Cooperation in an uncertain environment: The impact of stakeholders' concerted action on collaborative innovation projects risk management

Due to the impact of the epidemic, the risk management strategies of stakeholders in the project have undergone significant changes. Recently, more and more companies have adopted collaborative innovation to develop new businesses. While in an uncertain environment, it is difficult for stakeholders to generate complete trust to integrate resources to achieve systematic management of project risks. Concerted action by stakeholders becomes a viable solution to this problem. Based on collaborative theory and risk management lifecycle, this paper proposes a stakeholder-risk integration analysis framework and builds a double-layer network model to verify it. A case study was conducted, including parallel simulation experiments with different concerted action strategies. The results show that project risks can be effectively controlled when stakeholders take concerted actions to deal with the risks. Under the conditions of complex stakeholder and risk relationships in collaborative innovation projects, stakeholders can achieve systematic risk control through behavioral cooperation without devoting their personal resources, which is beneficial to protect stakeholders' interests. Our research will contribute to the theory by promoting risk management research from the perspective of resource integration to organization and action integration. Finally, we make recommendations for management and future research.