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ICED 11
Papers

UNCERTAINTY HANDLING IN INTEGRATED PRODUCT DEVELOPMENT

UNCERTAINTY HANDLING IN INTEGRATED PRODUCT DEVELOPMENT

Year: 2008

Section: Product development models and strategies

Editor: Marjanovic D., Storga M., Pavkovic N., Bojcetic N.

Author: Lindemann U., Lorenz M.

Section: Product development models and strategies

Pages: 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: design process model, uncertainty and risk, real options, integrated product development

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ds endorsed conferenceDESIGN 2008 - 10th International Design Conference

DESIGN 2008 - 10th International Design ConferenceDESIGN 2008 Conference was founded on the continuous development of organization and evaluation procedure that resulted in a capacity to deliver procedures and conditions of communicative competence. To assist the process of development for the engineering design research community the organizers of DESIGN 2008 propsed seven core areas for the conference as described below. It was required explicitly from all contributors to show how they are contributing to the overall area to emerge communities...

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Keywords
Design Science Journal