Knowledge Base Repository
In addition to research papers, the Design Society is developing several valuable resources for those interested in the study of design. These include a repository of PhD theses, a library of case studies and transcripts of design activities, and an archive of our newsletters. Please note that these resources are accessible exclusively to Design Society members.
UNCERTAINTY HANDLING IN INTEGRATED PRODUCT DEVELOPMENT
Lindemann, U.; Lorenz,M.
Type:
Year:
2008
Editor:
Marjanovic D., Storga M., Pavkovic N., Bojcetic N.
Author:
Section:
Product development models and strategies
Page(s):
175 - 182
Abstract:
Innovation projects have to face uncertainties resulting from lacking or imperfect information on market or technology-related issues. Common development process model do not fully support radical and thus uncertain development projects. The widely recognized integrated product development framework can be expanded through a flexible but direction setting process. The overall set-up is front-loaded, embeds options on the market and technology side, and stipulates an integrative work mode. Uncertainties are thus addressed using real options that support integrated decision making. Cases study research applied in radical innovation projects in the engineered goods sector demonstrates the positive impact of such a real options approach.
Keywords:
