After we determine strategy, identify markets, and conduct ideation events, a formal evaluation of all qualifying ideas must occur. A method to accomplish this is via a business case. The business case facilitates the identification of the few good ideas from the many submitted.
Risk mangement is one area associated with a business case. Explain the purpose of risk management in relation to the evaluation of an innovation idea/concept. Indicate what activities are required to complete the task. Also define any metrics and key terminology associated with the task.