本文对失败创新项目进行了分析和探讨，指出在一定条件下，一些失败创新项目对企业存在“潜在收益效应”，即对企业的长期发展是有益的。并在理论和案例实证分析的基础上，得出了具有“潜在收益效应”的失败创新项目特征，这将为企业有效地制定技术发展战略和进行创新项目管理提供了有益的参考。 This paper analyzes and discusses the failure innovation projects, and points out that under certain conditions, some failed innovation projects have “potential return effects” on the enterprises, which is beneficial to the long-term development of the enterprise. Based on the empirical analysis of the theory and the case, it draws the characteristics of the failed innovation project with “potential return effect”, which will provide useful reference for the enterprise to effectively develop the technology development strategy and carry out the innovation project management.