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Description
Description
Risk management—coupled with programme and project management—is a critical element of the innovation life cycle and helps address ambiguity and uncertainty. Innovation has several dimensions and categories and can occur at any moment as a result of the continuous identification and exploitation of opportunities. The proactive identification of opportunities, managed with the same rigor and attention as potential threats, often results in process efficiencies, shortened project life cycles, an improved solution, and/or enhanced benefits. The module provides the theoretical foundations and contexts of risk in innovation processes and an introduction to the tools and frameworks used to manage the financial risks associated with innovation.
Objectives
After the training the participant will be able to:
recognise the characteristics and fundamentals of risk management and the challenges of risk in innovation processes
learning strategies and principles on how to deal with risks
identify and compare innovation / new venture finance and corporate finance
apply core risk management tools to a variety of risks faced by institutions
conduct the valuation of new venture / innovation opportunities using standard valuation methods
critically assess the application of regulatory and economic capital to financial risk management policies
Programme
Part 1 – Innovation and risk management
the nature of risk and risk management
innovation processes / diffusion of innovation and risk management
risk management standards and frameworks
risk assessment
communication of risks and risk management communication
risk management strategies; organisation models dealing with risk and uncertainty
Additionally case studies, related to risk factors and management will be discussed.
Part 2 – Innovation / New Venture Financing
In this part we apply financial economic theory and the economics of contracts to the study of new venture / innovation finance. Moreover, we blend finance theory with the practical aspects of new venture / innovation financing. Furthermore, we emphasise the importance of strategy in new venture planning. Therefore, we use a valuation perspective to approach topics such as strategic planning, business planning, financial modeling, assessing financing needs, raising outside financing, structuring financial contracts with investors, and harvesting.
Information and Agency
Innovation / New Venture Financing
Financial Forecasting & Valuation
Financial Decision Making: Real Options & Simulations
Optimal Choice of Financing
Harvesting
Additionally, case studies will be discussed.
Teaching will combine interactive lectures, accompanied by PowerPoint presentations and exercises. Beside this, modelling activities, case studies and discussions will be used to create favourable and interactive working environment for successful learning. This gives participants the opportunity to reflect, design and discuss.
Target Audience
Top Management, Leader, CEO, Manager.
Conditions
Course Material
Please note that for environmental reasons no paper version of the training material will be provided for your training. The course material can be downloaded free of charge via your portal before the start of the course (download the Client Portal User’s Guide here). You will be able to view it on the screen of your mobile device or print it if necessary. If your registration has been made by a training manager of your company please contact him/her so that he/she can give you access to it or send it to you.
Location
L-1615 Luxembourg
Luxembourg