Innovation projects are inherently risky and face several challenges:
1. Resource Constraints: Limited financial, human, and technological resources can hinder progress. 2. Market Uncertainty: Predicting market acceptance is difficult, and there is always a risk of failure. 3. Resistance to Change: Organizational inertia and resistance from employees can stifle innovation. 4. Regulatory Hurdles: Compliance with regulations can complicate the innovation process.