The project COSEISMIQ integrates seismic monitoring and imaging techniques, geo-mechanical models and risk analysis methods with the ultimate goal of implementing innovative tools recently developed but yet untested. These adaptive, data driven approaches for reservoir optimization and for the control and management of induced seismicity represent a major contribution to safe and sustainable geothermal energy exploitation. Within the project COSEISMIQ, we will demonstrate the usefulness of what we call the Real-Time Induced Seismicity Controller (RISC) in a commercial scale application in Iceland.