Risk Management in Product Design: Current State, Conceptual Model and Future Research
Name
Oehmen et al 2010 - OPEN ACCESS MANUSCRIPT - Risk management in product design.pdf
Description
Main article
Size
534.24 KB
Format
Adobe PDF
Checksum (MD5)
51642468dbeb92f85893ca5a7c01000b
Author(s)
Oehmen, Josef
Seering, Warren
Ben-Daya, Mohamed
Al-Salamah, Muhammad
Date Issued
August 2010
Journal
Proceedings of the ASME 2010 International Design Engineering Technical Conferences & Computers and Information in Engineering Conference IDETC/CIE 2010
Publisher
ASME International
Citation
Oehmen, Josef et al. “Risk Management in Product Design: Current State, Conceptual Model and Future Research.” ASME, 2010. 1033–1041.
Version
Author's final manuscript
Abstract
Risk management is an important element of product design. It helps to minimize the project- and product-related risks such as project budget and schedule overrun, or missing product cost and quality targets. Risk management is especially important for complex, international product design projects that involve a high degree of novel technology. This paper reviews the literature on risk management in product design. It examines the newly released international standard ISO 31000 “Risk management — Principles and guidelines” and explores its applicability to product design. The new standard consists of the seven process steps communication and consultation; establishing the context; risk identification; risk analysis; risk evaluation; risk treatment; and monitoring and review. A literature review reveals, among other findings, that the general ISO 31000 process model seems applicable to risk management in product design; the literature addresses different process elements to varying degrees, but none fully according to ISO recommendations; and that the integration of product design risk management with risk management of other disciplines, or between project and portfolio level in product design, is not well developed.
MIT Department
Massachusetts Institute of Technology. Department of Mechanical Engineering
MIT Sociotechnical Systems Research Center
Terms of Use
Creative Commons Attribution-Noncommercial-Share Alike 3.0
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1115/DETC2010-28539
