Assessment Criteria of Innovations Risks: Analysis of Research Results

Abstract

In the times marked by sustainable economic development, innovations form the basis for operations aimed at economic development. In order to secure their implementation and achieve the projected goals, an adequate risk assessment is necessary. The evaluation criteria utilized in practice include a wide range of analytical aspects, from legal regulations and requirements related to environmental impact assessment to technical and economic issues. The paper reports outcomes of research aimed at defining the priority criteria for assessing the risk of innovation and their updating in relation to the new conditions for the performance of enterprises related to, among others, with the COVID-19 pandemic. As a consequence of this, it will be possible to establish a new hierarchy of evaluation criteria that could significantly affect the decision-making processes regarding implementing or rejecting specific innovative projects. The paper presents the results of questionnaire responses that involved Polish innovators: experts, constructors/designers, entrepreneurs, and scientists. The study involved experts from various industries (among others: energy, production, and the food or wood industry).