A comparison of the integration of Risk management Principles in Product Development Approaches
The management and reduction of risk is a central part of product development processes. This paper analyses the extent to which four common product development approaches address risks (waterfall model, stage gate model, design for six sigma, and lean product development). They are analyzed along t...
| Main Authors: | , , , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | en_US |
| Published: |
The Design Society
2013
|
| Online Access: | http://hdl.handle.net/1721.1/78665 https://orcid.org/0000-0001-8846-4851 |
| _version_ | 1826212142373666816 |
|---|---|
| author | Oehmen, Josef Seering, Warren Bassler, Denis Ben-Daya, Mohamed |
| author2 | MIT Sociotechnical Systems Research Center |
| author_facet | MIT Sociotechnical Systems Research Center Oehmen, Josef Seering, Warren Bassler, Denis Ben-Daya, Mohamed |
| author_sort | Oehmen, Josef |
| collection | MIT |
| description | The management and reduction of risk is a central part of product development processes. This paper analyses the extent to which four common product development approaches address risks (waterfall model, stage gate model, design for six sigma, and lean product development). They are analyzed along the four principles of risk-driven design: 1. Identifying and quantifying risks; 2. Making risk-based decisions; 3. Reducing risks; and 4. Creating resilient PD systems. The analysis shows that the existing PD processes only partially address the four principles of risk-driven design and that they have their specific strengths and weaknesses. The paper concludes with a discussion of preliminary empirical findings through interviews and case studies on how to better integrate risk management principles into product development. |
| first_indexed | 2024-09-23T15:17:02Z |
| format | Article |
| id | mit-1721.1/78665 |
| institution | Massachusetts Institute of Technology |
| language | en_US |
| last_indexed | 2024-09-23T15:17:02Z |
| publishDate | 2013 |
| publisher | The Design Society |
| record_format | dspace |
| spelling | mit-1721.1/786652022-10-02T01:53:42Z A comparison of the integration of Risk management Principles in Product Development Approaches Oehmen, Josef Seering, Warren Bassler, Denis Ben-Daya, Mohamed MIT Sociotechnical Systems Research Center Oehmen, Josef Oehmen, Josef Seewring, Warren Bassler, Denis The management and reduction of risk is a central part of product development processes. This paper analyses the extent to which four common product development approaches address risks (waterfall model, stage gate model, design for six sigma, and lean product development). They are analyzed along the four principles of risk-driven design: 1. Identifying and quantifying risks; 2. Making risk-based decisions; 3. Reducing risks; and 4. Creating resilient PD systems. The analysis shows that the existing PD processes only partially address the four principles of risk-driven design and that they have their specific strengths and weaknesses. The paper concludes with a discussion of preliminary empirical findings through interviews and case studies on how to better integrate risk management principles into product development. Massachusetts Institute of Technology. Lean Advancement Initiative Center for Clean Water and Clean Energy at MIT and KFUPM 2013-05-01T20:05:33Z 2013-05-01T20:05:33Z 2011 2011-08 Article http://purl.org/eprint/type/ConferencePaper 978-1-904670-23-0 2220-4334 http://hdl.handle.net/1721.1/78665 Bassler, Dennis et al. "A comparison of the integration of Risk management Principles in Product Development Approaches." Proceedings of the 18th International Conference on Engineering Design (ICED 11); v.3 (2011): 306-316. https://orcid.org/0000-0001-8846-4851 en_US http://www.designsociety.org/publication/30518/a_comparison_of_the_integration_of_risk_management_principles_in_product_development_approaches Proceedings of the 18th International Conference on Engineering Design (ICED 11); v.3 Creative Commons Attribution-Noncommercial-Share Alike 3.0 http://creativecommons.org/licenses/by-nc-sa/3.0/ application/pdf The Design Society Josef Oehmen |
| spellingShingle | Oehmen, Josef Seering, Warren Bassler, Denis Ben-Daya, Mohamed A comparison of the integration of Risk management Principles in Product Development Approaches |
| title | A comparison of the integration of Risk management Principles in Product Development Approaches |
| title_full | A comparison of the integration of Risk management Principles in Product Development Approaches |
| title_fullStr | A comparison of the integration of Risk management Principles in Product Development Approaches |
| title_full_unstemmed | A comparison of the integration of Risk management Principles in Product Development Approaches |
| title_short | A comparison of the integration of Risk management Principles in Product Development Approaches |
| title_sort | comparison of the integration of risk management principles in product development approaches |
| url | http://hdl.handle.net/1721.1/78665 https://orcid.org/0000-0001-8846-4851 |
| work_keys_str_mv | AT oehmenjosef acomparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT seeringwarren acomparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT basslerdenis acomparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT bendayamohamed acomparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT oehmenjosef comparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT seeringwarren comparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT basslerdenis comparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches AT bendayamohamed comparisonoftheintegrationofriskmanagementprinciplesinproductdevelopmentapproaches |