Characteristics of successful risk management in product design

Alison Olechowski · Josef Oehmen · Warren P. Seering · Mohamed Ben‐Daya

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Product Development and Customization Construction Project Management and Performance Design Education and Practice

Abstract

The paper reports results of one of the largest empirical studies to-date on the impact of design risk management practices on product design success. Through a survey of 224 practices, 38 (in 7 categories) where found to be statistically significant for at least 3 out of 4 performance metrics. The categories are: 1. Organizational Design Experience; 2. Risk Management Personnel and Resources; 3. Tailoring and Integration of Risk Management Process; 4. Risk-Based Decision Making; 5. Specific Mitigation Actions; 6. Monitoring and Review; and 7. Other ISO Risk Management Principles.

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References

2004A guide to the project management body of knowledge (PMBOK guide)2002Risk management, project success, and technological uncertainty 2010Cost Overruns in Large-scale Transportation Infrastructure Projects: Explanations and Their Theoretical Embeddedness 2009Managing New Product Development and Supply Chain Risks: The Boeing 787 Case 2008Effect of risk management strategy on NPD performance 2010Risk Management in Product Design: Current State, Conceptual Model and Future Research

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2019Designing Risk Management: Applying Value Stream Mapping to Risk Management

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