RIMINO systematically reduces innovation risks, thus relieving the burden on the budget
RIMINO, minimal-risk innovation management, is a method developed by INVENSITY to systematically reduce innovation risks.
While systematic risk management has long been standard in other areas, there has so far been none for innovations. This is all the more astounding, as around 2/3 of all innovation projects fail. Given that, on average, around 50% of the R&D budget is invested in innovations, around 1/3 of all R&D expenditure is lost. Even if the success rate for innovations is only increased marginally, this still translates into great financial potential.
RIMINO systematically reduces innovation risks, thus freeing up the budget. This may mean that no external financing for innovations is required.
Within the RIMINO method, INVENSITY also fuses its expertise in safety management with that in project management as part of an integral innovation management.
In three simple systematic steps, RIMINO shows you possible courses of action to minimize risks
Thanks to the RIMINO method, you know exactly how to optimize your innovation success!
Specifically, you have
- precise awareness of the risk drivers for your innovation project, their causes and their likelihood of occurring
- an overview of your options for influencing the risk drivers
- an interlinking of the risk drivers in a risk tree
Using these intermediate data, INVENSITY creates risk levers that have a maximum effect on overall risk exposure, in that risk drivers are prioritized and matched to the influence options.
Combined with implementation recommendations, you know precisely where and how you have to take action in order to increase the probability of success for your innovation project.