Leung and Isaacs (2008) conducted a study that assessed the risk management methodologies used by various R&D organisations around the world in an attempt to identify best practices that could be adopted in public sector R&D projects. Their study found that some of these frameworks were more applicable to specific types of industries than to others. The results were later confirmed in the research study conducted by Vargas-Hernández, Noruzi and Sariolghalam (2010). Existing risk management techniques are targeted to industry needs, and as such, they have been found to be insufficient in effectively managing the risks associated with R&D projects (Ouédraogo, Groso, & Meyer, 2011). For this reason, several studies have been conducted in an attempt to identify specific risk management practices that work for R&D projects.