Though much work has been devoted to developing a conceptual framework for Responsible Research and Innovation (RRI), RRI uptake in industry seems to lag behind. This study provides insights from implementing RRI in industrial pilot projects dealing with transformative technologies, performed within the Horizon 2020 PRISMA project. Our results are based on analyses of business practices and literature on RRI, corporate social responsibility and multi-criteria decision analysis. The lack of (management) models to assess and showcase the impact (the added value) of RRI uptake is one barrier to companies adopting RRI approaches. We propose a practical model to help companies identify RRI implementation strategies during product development – connecting goals, actions and impacts – and a simple methodology to perform qualitative evaluations of its impacts (benefits, barriers and costs). We suggest that the success of RRI uptake is strongly context-dependent and is affected by several factors, including organization size and complexity and the level of innovation and its associated risks. The benefits of RRI can be tangible and intangible, short-term and long-term. RRI could help companies improve the societal impacts of their innovative products. However, it should be implemented from the early stages of development and considered a medium- to long-term investment.