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Risk.1.4: Financial risks for RI upgradingRelevance:The indicator describes the risk of sub-optimal financial resources for afacility upgrade that is considered important for the future operationof the RI. Insufficient resources for upgrading can affect the scientificattractiveness and competitiveness of the facility as well as qualityof results. A significant financial risk might exist in particular if futureupgrades of the facility have not been already included in the initialproject proposal and discussed with the investors in advance. Theuncertainty about the changes, which may occur in the social, political,economic, scientific or technological context of the RI during its longlifetime can also lead to financial risks, since such changes might influencethe support of the RI by its major stakeholders and affect also theavailable financial resources for upgrades negatively.Compilation:• If upgrading is already considered in the project proposal, use theinformation collected for indicator RI.5.5 (financial strategy andcontingency plans) in order to estimate, whether a significant financialrisk for the upgrading of the RI exists. Use the risk assessmentmatrix in the templates in order to quantify the risk.• Identify the financial risk for operation as perceived by the RI proposers/ managers and/or investors.• Report the obtained results.Data sources and collection methods:• Results from indicator RI.5.5 concerning the financial data andstrategy for the operation phase• Interviews with suitable experts from the project proposers, RImanagement and/or investors (e.g. project coordinator, financialmanager of the project or RI, CEO of the RI, involved financialexperts of the investors)Data analysis methods:• Risk analysis• Descriptive content analysisReferences:Risk assessment templateDefinitions and explanations:Likelihood for an event: Use the scale rare – unlikely – possible – likely –almost certain as defined in the risk assessment templates.Consequences of an event: Use the scale insignificant – minor – moderate– major – catastrophic as defined in the risk assessment templates.271