Rising inflation. Looming recession. Supply chain shortages. Our constantly evolving reality requires new ways to tackle emerging challenges. In the business world this means managing higher risk with more speed and agility. In the world of Sensory, this translates to mitigating risk by providing decision making support in the face of reduced time and/or budgets for testing. Sensory and consumer insights professionals are uniquely positioned to lead the way by providing risk-based and fit-to-purpose testing approaches as a framework for cost efficient and agile research. During this session, we propose a holistic approach to exploring and addressing innovation and renovation project risks across the value chain. The approach leverages the cross functional team spanning procurement, supply chain, nutrition, regulatory, product, packaging, processing, quality, and sensory functions. We also discuss four criteria for fit-for-purpose risk-based approach to be successful. Process steps include: (1) identifying the risks, (2) assessing the risks, (3) classifying the risks, and (4) providing risk-based recommendations and methods. Specific discussion areas include: forming key cross-functional relationships to develop powerful research plans and deliver impactful insights, developing and completing a checklist with partners to determine risks and potential mitigation strategies, managing and developing a smart testing plan - especially for recipe changes that cut across multiple SKUs, translating the risk to the business; and providing recommendations on success criteria, leveraging the full range of Sensory tools including internal methods like team evaluations, all the way to large scale consumer testing. Speakers: Lotika Savant, PhD, Janet McLean, MS, Dolores Oreskovich, PhD