• Olga Dobrovolschi Department of Management and Economics of the Enterprise, Faculty of Mechanical Engineering, CTU in Prague, Czech Republic
  • Jan Lhota Department of Management and Economics of the Enterprise, Faculty of Mechanical Engineering, CTU in Prague, Czech Republic




Risk Management, R&D, Innovation Risk, Risk Impact

Abstract [English]

Project risk management's aim is to afford vision of the risk profile of a project to support decision-makers to reduce the consequences of risks on project purposes such as time and budget. Risk evaluation and treatment of the whole project fronts the crises of developing irrelevant reactions. Despite every risk is by nature subjective, at the time of risk management progress many analytical models have been developed. Nowadays risk management tools are obtaining big attention, as it is a way to reduce costs, improve schedule and redevelop technical performance of new products. However, there is still a lack of researches directed on the investigation of the productive integration of risk management tools into an organization. Quantitative tools remain the best choice so this study broaches one of them named RFMEA. The research provides a basis for a quantitative approach to risk assessment in a project of an engineering company. Because of changes coming to the traditional risk management process caused by implementing Industry 4.0 in the automotive industry, there is considered management of Innovation. The outline is made of risk management trends.


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How to Cite

Dobrovolschi, O., & Lhota, J. (2019). RISK MANAGEMENT WITH A FINANCIAL IMPACT. International Journal of Research -GRANTHAALAYAH, 7(10), 418–428. https://doi.org/10.29121/granthaalayah.v7.i10.2019.416