Appropriate risk management
Public agencies tend to be fearful of risk. The challenge is to manage risk, not eliminate it. Risk can be managed across a portfolio of projects that span the high return / high risk end as well as medium and low return agendas. A balanced view of risk is vital – some innovations spread too slowly but others spread too fast, without adequate evaluation and assessment, particularly when they win the backing of leaders. A commitment to evaluation and evidence, and staged development of new approaches, helps reduce risk.