Risk-oriented development of innovative products: a model-based approach
Editor: Boks, Casper; Sigurjonsson, Johannes; Steinert, Martin; Vis, Carlijn; Wulvik, Andreas
Author: Neumann, Marc; Bender, Beate
Institution: Ruhr-University Bochum, Germany
Section: New Product Development
New product development is strongly accompanied by uncertainties which are understood in general as a consequence of insufficient experience and missing knowledge. Uncertainties occur at all stages of product development affecting the project success in a serious manner. Traditional engineering approaches do not address uncertainties sufficiently. Specific risk management approaches instead are rarely integrated in the development process. Models and methods of risk management either focus on the impact of uncertainty to quality, or the effects of uncertainties to schedule or costs, while an integrated view is not provided. Within this contribution a risk oriented development strategy for new products is proposed considering uncertainties in decision making on all stages of the development process. The suggested process is highly agile enabling immediate reactions to upcoming uncertainties by conducting risk oriented changes to both the product in development and the development process. The procedure is supported by an integrated modelling approach enabling the representation and analysis of product and process based uncertainties as well as potential response options. Competing response strategies can directly be evaluated with regards to the caused benefit and effort in the dimensions of quality, time and costs which makes them comparable to each other.