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This book focuses on the theory and practice involved in the management of innovative activities that enhance the competitiveness of enterprises, industries and economies. It presents a multi-criteria approach to the problem of selecting effective innovative projects and innovative technologies that increase competitiveness in high-tech industries. Further, the book develops a mathematical risk assessment model, and proposes new approaches for systematically identifying and assessing the probability of risk emergence. Lastly, it demonstrates how simulation models can be used to assess the impact of innovative technologies on the competitiveness of high-tech products.