  Technology trends as digitalization and Industry 4.0 initiate a growing
demand for new business models. Most of this models requires a fundamental
shift of operational and financial risks between seller and buyer. A key
question is therefore how to include additional risk pricing and hedging. In
this paper we propose a new approach for a risk theory of innovative
performance based business models as "Pay-for-Performance" or "Product as a
Service". A new model and calculation method for determination the risk premium
is presented. It contains beside financial price fluctuations also operational
failure behaviour of products. We apply the model for a typical industrial
application and simulate the pricing dependency for different cost
distributions.
