Developing a Taxonomy for Risks in Product Design and Development

DS 72: Modelling and Management of Engineering Processes - Concepts, Tools and Case Studies

Year: 2012
Editor: Peter Heisig, John Clarkson
Author: Josef, Oehmen; Mohamed, Ben-Daya
Series: MMEP
Section: Conceptual Papers
Page(s): 003-014
ISBN: 978-0-9564691-3-7


Based on a review of the pertinent literature, we develop a taxonomy to classify risks in product design and product development. The taxonomy is based on a matrix differentiating the impact areas in two dimensions: First, regarding their impact on the utility function (1. risks affecting either stakeholder needs or 2. risks affecting project outcomes), and second, regarding the area of impact (1. Program process execution attributes or 2. Engineering artefact attributes). The chapter concludes with results of an empirical quantification of selected categories of risks within the newly developed framework.

Keywords: Risk management, product development, taxonomy


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