A Study on Project Management for Product Development using Quality Tools

Abstract

Purpose: The purpose of this paper proposes an effective and systematic methods of risk management in product development project. Methods: This paper first discusses what risk factors be considered during product development period and then presented a model for preventive risk management. For that, this paper proposes how to evaluate the risk factors and risk events, and how to select prevention action for managing risk factors effectively. For this process, this paper uses well-known quality tools such as House of Quality (HOQ) and Failure Mode and Effects Criticality Analysis (FMECA) methods. Results: There is an inherent need for the development of robust risk management framework in order for product development projects to be successful. The identification and quantification of risk factors, risk events, and prevention actions can have significant effects on the success of a product development projects. Project managers can implement the proposed model to improve project success. Conclusion: The findings showed that this method would be effective for project managements in dealing with risk management issues in product development projects. This method presented would be an one of good guidelines for practitioners in the industry.