Conceptional approach and management technique to manage risks of innovations in the space industry

Innovation growth in the Russian Federation is accompanied by the high level of risks. A significant number of the world rankings which do not suppose Russia to be a leader confirms this fact. It is necessary to take into account risks that each process includes dealing with innovations in the space industry due to the rapid growth of the negative consequences of violations in the “normal” functioning of economic processes. Building up the risk management of innovations in the space industry should be implemented based on the need to solve the following problems: to set up a unified regulatory framework, to have an ability to predict the results, to organize clear and timely communication, qualification and training of plant staff. To solve these problems there is a provided conceptual approach of risk management of innovations in the space industry. The conceptual approach is formed on the basis of the goals set by the company in the field of risk innovation management. Implementation of the conceptual approach involves adherence to certain principles at work. As a part of the approach it is supposed to manage risks through their identification, formation of risk management strategies, process optimization based on a strategy of innovation risk management. Optimization of the process should be carried out using the introduced method of innovation risk management in the space industry. The technique includes an analysis of the processes that are vulnerable to innovation risks using tensor method of risk analysis.