Risk Management in Product Development - Current Methods

The main interest of this paper is to review and discuss current methods employed in the area of risk management in product development. A very broad view is taken at the field, including process and product risks, as well as suggestions for methods from outside the realm of product development. In order to be able to present the methods in a structured manner, a general risk management process model is introduced. The aim is to unite both theory and practice by combining a detailed literature review with research into the industrial application of risk management. In our context, risk is understood in a wide sense as a uncertain and time-related loss of value, which is part of, and influenced by complex dynamic networks of factors and/or events.     «

The main interest of this paper is to review and discuss current methods employed in the area of risk management in product development. A very broad view is taken at the field, including process and product risks, as well as suggestions for methods from outside the realm of product development. In order to be able to present the methods in a structured manner, a general risk management process model is introduced. The aim is to unite both theory and practice by combining a detailed literature r...     »