Background & Understanding, Mgt. of Risk & Uncertainty

Risk & Uncertainty is part and parcel of the World Class R&D enterprise...

Risk Framework shows the major categories for the management of risk

We seek blockbuster+ products in a competitive market, which means we need to be far out in front of the established science. We need to go beyond the facts. We make decisions in the face of uncertainty, sometimes great uncertainty.

This Focus Area is extremely important in some industries (e.g., pharmaceuticals) and recommendations for Risk & Uncertainty are aimed primarily at these type research settings. Throttle back the recommendations in this section if Risk and Uncertainty is of less concern in your industry. If your pursuits are more predictable, then quantifiable approaches may be appropriate. For unpredictable R&D+ we rely on the discontinuous approach that underpins this section.

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More Core Arguments for Mgt. of Risk & Uncertainty