IDEAS home Printed from https://ideas.repec.org/a/ids/ijisen/v46y2024i4p433-456.html
   My bibliography  Save this article

Comparative study of risk management in new product development

Author

Listed:
  • Mahmoud Awad
  • Yassir Shanshal

Abstract

New product development (NPD) is a volatile and challenging process carrying many uncertainties resulting in great amount of risk. The aim of this article is to identify critical risk factors contributing to NPD project success and to identify any major differences between different industries in terms of these critical risk factors. Such objectives will enable decision-makers in NPD projects to plan and mitigate risks accordingly. An online survey targeting NPD programs stakeholders is utilised to investigate the association of more than 24 risk factors and project success/failure. Results suggest that success of a project is strongly associated with requirement definition, risk management, and verification and validation process. Moreover, there is evidence that different industries share some common risk factors and differ in terms of importance/rankings of these factors. Finally, results suggest significant statistical difference between auto and oil and gas industries in terms of missed and mismanaged risks.

Suggested Citation

  • Mahmoud Awad & Yassir Shanshal, 2024. "Comparative study of risk management in new product development," International Journal of Industrial and Systems Engineering, Inderscience Enterprises Ltd, vol. 46(4), pages 433-456.
    • Handle: RePEc:ids:ijisen:v:46:y:2024:i:4:p:433-456
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=138031
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijisen:v:46:y:2024:i:4:p:433-456. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=188 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.