Characteristics of successful risk management in product design
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The paper reports results of one of the largest empirical studies to-date on the impact of design risk management practices on product design success. Through a survey of 224 practices, 38 (in 7 categories) where found to be statistically significant for at least 3 out of 4 performance metrics. The categories are: 1. Organizational Design Experience; 2. Risk Management Personnel and Resources; 3. Tailoring and Integration of Risk Management Process; 4. Risk-Based Decision Making; 5. Specific Mitigation Actions; 6. Monitoring and Review; and 7. Other ISO Risk Management Principles.
Date issued
2012-05Department
Massachusetts Institute of Technology. Department of Mechanical Engineering; MIT Sociotechnical Systems Research CenterJournal
Proceedings of DESIGN 2012, the 12th International Design Conference, Dubrovnik, Croatia
Citation
Olechowski, A., J. Oehmen, W. Seering, and M. Ben-Daya. "Characteristics of successful risk management in product design." Proceedings of the 12th International Design Conference – DESIGN 2012, pp. 269-278, Dubrovnik, Croatia. May 2012.
Version: Author's final manuscript