| dc.description.abstract | Innovation is the key to growth however, the process of innovation is full of uncertainties. Organizations and project management teams that are open-minded and aware of the uncertainties, can tackle them more cleverly and efficiently. Identification of uncertainty type is the foremost step in this procedure. It is critical as it directly relates to the methods used to deal with them. There are a lot of different approaches used to tackle uncertainty, ranging from statistical analysis to a robust knowledge database to efficient managing systems.
In this research, classification of uncertainties is described and three approaches for treating uncertainties in the process of innovation are discussed. These approaches deal with uncertainty through knowledge, influential factors or a clever management. For the detailed analysis of this study, example of the energy transition is taken as an innovation. Moreover, some examples of failures in the energy transition process are discussed like how lack of society’s interest is proving as a major setback in this whole process or uncertainties in the technology being used is also full of uncertain consequences. A comprehensive study is conducted on the causes of these failures, the types of the uncertainties encountered and their treatment. This study includes implications of most effective approaches for different situations and type of uncertainties.
Each failure of energy transition is dissected towards its response to the three approaches discussed. An argument is carried out about the fruitfulness of each of the three approaches for every case of energy transition failure. Many experts are of the view that uncertainties can be handled through one strategy. However, treatment successful in one case can be regarded as completely obsolete in another. For example, lack of knowledge in technical or technological issues cannot be tackled through statistical analysis or effective management, Therefore, a better background of knowledge and expertise in different uncertainty handling domains must be used to avoid chaotic situations. Focus through any innovation process must be on types of uncertainties expected or encountered, and then the planning of its treatment accordingly, for instance, a technical default needs more data and information to get corrected whereas distress within human resource can be solved through administration. Sufficient knowledge and clever strategies can enhance the effectiveness of dealing with uncertain situations. | |
