An enterprise centric analytical risk assessment framework for new product development

Mohit Goswami,Shaofeng Liu

doi:10.1080/23311975.2018.1540255

Mohit Goswami, Shaofeng Liu

Open Access

https://doi.org/10.1080/23311975.2018.1540255

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Abstract

This research intends to aid product managers at early stages (before detailed design stage) of product development to identify and thus benchmark the minimal risk prone design concept for further ...

Highlights

New product development (NPD) endeavors to realize an end product starting from a concept such that customer’s needs are satisfied or exceeded while meeting the manufacturability aspects (Clark & Wheelwright, 1993)
The primary novelty of our work pertains to (1) development of analytical risk evaluation methodology for a product characterized by modularity in contrary to simpler products driven by integrated architecture; (2) the developed methodology considers technical risks emanating from considerations of various functional divisions that are part of internal value chain of any organization, viewing the risk mitigation for design related decision-making within the NPD from a systems standpoint
The presented studies have addressed the aspects related to risk identification, assessment, evaluation and mitigation from multiple perspectives, a crucial research gap persists in bridging the theoretical risk dimensions emanating from involvement of various functional divisions within the enterprise in the product development projects with quantitative decisionmaking such as design concept selection in the product development process

Summary

Introduction

New product development (NPD) endeavors to realize an end product starting from a concept such that customer’s needs are satisfied or exceeded while meeting the manufacturability aspects (Clark & Wheelwright, 1993). The primary novelty of our work pertains to (1) development of analytical risk evaluation methodology for a product characterized by modularity in contrary to simpler products driven by integrated architecture; (2) the developed methodology considers technical risks emanating from considerations of various functional divisions that are part of internal value chain of any organization, viewing the risk mitigation for design related decision-making within the NPD from a systems (enterprise) standpoint.

Results

Conclusion