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Author:

Tegeltija, Miroslava; Oehmen, Josef; McMahon, Christopher Alan; Maier, Anja; Kozin, Igor; Škec, Stanko

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Abstract:

While risk quantification research has grown over the last few decades, only a limited number of studies have addressed the overall process integration of these approaches in design risk management. This paper argues that the choice of risk quantification method has strong implications for several process aspects. We investigate current risk management maturity models and suggest an expansion to accommodate requirements originating from the choice of quantification method, and to inform the choice of quantification method, based on other process parameters, validated through 3 case companies.

Keywords:

design process, risk management, uncertainty, risk management maturity, tailoring approach