Specification Risk Analysis: Introducing a Risk Management Method for Product Architectures

This paper introduces a method to identify and mitigate potential deficiencies of a product architecture. The risk management method was developed on the basis of the Failure Mode and Effect Analysis (FMEA) and is suitable for the phase of embodiment design. Successful product development is determined by the fulfillment of customer needs through a product under constraints of time, cost, and quality. Risk or uncertainty adds a forth dimension that is difficult to address. According to Browning, risk is a qualifier on schedule (time), cost, and performance (quality). Effectively managing risks in new product development can reduce the likelihood of cost, schedule, and performance deviations during execution. Risk management therefore is tightly connected to the success of a product development process. Managing product development processes thus requires a reliable method for assessing the risks and challenges of the product to develop. Unfortunately, only a very limited number of work methods exist which facilitate this.     «

This paper introduces a method to identify and mitigate potential deficiencies of a product architecture. The risk management method was developed on the basis of the Failure Mode and Effect Analysis (FMEA) and is suitable for the phase of embodiment design. Successful product development is determined by the fulfillment of customer needs through a product under constraints of time, cost, and quality. Risk or uncertainty adds a forth dimension that is difficult to address. According to Browning,...     »