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New Product Development: Design Risk Assessment

In: MANAGING TECHNOLOGICAL INNOVATION Tools and Methods

Author

Listed:
  • Chung Yeh
  • Wen-Chin Liu
  • Chih-Lieh Lee

Abstract

To cope with uncertainty, risk management had been initiated at the beginning of the new product development (NPD) project. Risk management is the systematic process of identifying, analyzing, and responding to project risk. Failure Modes and Effects Analysis (FMEA) is widely spread and used to manage risks in diversity industrials. The benefit of FMEA concept and methods has a measurable way to prioritize and minimize risk. The chapter provides a similar method to emphasize to focus on the risk assessment and action selection from different aspects of NPD process.

Suggested Citation

  • Chung Yeh & Wen-Chin Liu & Chih-Lieh Lee, 2017. "New Product Development: Design Risk Assessment," World Scientific Book Chapters, in: Tugrul U Daim (ed.), MANAGING TECHNOLOGICAL INNOVATION Tools and Methods, chapter 12, pages 311-336, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813207271_0012
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    More about this item

    Keywords

    Technology Management; Innovation; R&D Management;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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