Risk and uncertainty
Can risk be measured?
Yes
What is forecasting
Provides a framework for gathering and sharing data, making assumptions and risks more explicit.
Name 1 of the three phases for resource allocation.
Knowledge building
Strategic positioning
Business investment
What does “NPD” stand for in the context of fuzzy front end
New product development
What will the second case study be about?
HSBC: Embracing innovation for SMES
Is uncertainty predictable?
No
What is benchmarking forecasting?
Comparing with the best in the industry
Which of the stages is the most expensive?
Business investment
Name a success factor for managing the fuzzy front end
Leadership and strategy
Efficient decision making
Organizational culture
What is the shape of the curve describing spread and adoption of innovation?
S-curve
How does risk differ from uncertainty in business?
Risk can be measured and assessed, whereas uncertainty is about unpredictability
What is the Delphi forecasting method?
Asking experts
What stage do you do a broad market analysis?
Strategic positioning
What are the two key concepts of the fuzzy front end?
Idea generation
Judgment point
How long is the pre-diffusion phase on average? (menti)
5-10 years
What is a common tool used by businesses to identify potential risks and uncertainties in a project?
SWOT analysis
When is scenario forecasting useful?
Long term
Name all three stages of the resource allocation.
Knowledge building
Strategic positioning
Business investment
Why is the fuzzy front end important?
It’s during this phase the groundwork of success or failure is typically established.
What ISO standards were mentioned?
ISO 56000
ISO 31000
The key to creating real innovation in the context of risk and uncertainty
Daring to explore the unknown and not avoiding risks.
What is the real name of forecasting master Sakis?
Athanasios Migdalas
Name the primary objectives for companies in the knowledge building stage?
Basic research and monitoring in various fields
What are the three success factors of the fuzzy front end?
Leadership and strategy
Efficient decision making
Organizational culture
When is the next leap year (shooting year)?
2024