Use of risk matrix in innovation project management

This article updates the issue of the importance of risk assessment in the innovative development of the enterprise. The main goal of the study is to develop recommendations on the possibility of using the risk matrix when making decisions on the implementation of innovative projects. The systematization of literary sources and approaches to solving the problem of innovation risk assessment shows that not all enterprises (innovation managers) are aware of the possibility of using the risk matrix when making decisions about innovations. The urgency of solving this scientific problem lies in the fact that achieving effective operation of the enterprise, increasing its competitiveness is impossible without mastering innovations (products, technologies, services, markets). The study of the topic is carried out in the following logical sequence. The concept of innovative risk is considered, the relationship between risk and innovation is established. It is noted that any innovation - a new product or service - has its own life cycle: research and development, implementation, growth, maturity and decline (or new development) of the product. Classification of risks by stages of innovative measures is proposed. At each stage of the life cycle, separate risk management tools are used. Innovation risk management directly includes the analysis of the innovation portfolio. The process of managing innovative activities will allow effective selection of strategic programs and projects and ensure an acceptable level of risk and timeliness of response of the innovation system to its change. The methodological toolkit of research methods was the last ten years of research by leading scientists. The object of the study is an enterprise (innovation project), it is here that innovation processes are implemented, where it is necessary to evaluate innovative projects at various stages of their implementation, because it is the evaluation at various stages that indicates the need to continue the implementation of the project or withdraw it from implementation. The article presents the results of an empirical analysis of the relationship between risk and innovation, which showed that risk management is a component of innovation management. The study empirically confirms and theoretically proves that there is a direct relationship between risk and profitability from innovation. The results of the research can be useful for organizations of various levels and types of activity that implement innovative projects