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RISK MANAGEMENT IN PRODUCT DEVELOPMENT: RISK IDENTIFICATION, ASSESSMENT, AND MITIGATION – A LITERATURE REVIEW

Part of: Design Organisation and Management

Published online by Cambridge University Press:  11 June 2020

J. Oehmen ,
A. Guenther ,
J. W. Herrmann ,
J. Schulte  and
P. Willumsen
J. Oehmen
Affiliation:
DTU-Technical University of Denmark, Denmark
A. Guenther
Affiliation:
Copenhagen Business School, Denmark
J. W. Herrmann
Affiliation:
University of Maryland, United States of America
J. Schulte*
Affiliation:
Blekinge Institute of Technology, Sweden
P. Willumsen
Affiliation:
DTU-Technical University of Denmark, Denmark
*
*jesko.schulte@bth.se

Abstract

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This paper reviews the literature on risk management practices and methods in product design and development. Based on an expert workshop by the Risk Management Processes and Methods in Design Special Interest Group within the Design Society and literature review, three key areas are discussed: risk identification, assessment, and mitigation. In each area, researchers have described practices that are used in product development organizations, proposed new methods to support risk management processes and decision-making, and generated evidence to evaluate the effectiveness of these activities.

Keywords

design managementproduct developmentrisk managementuncertaintyliterature review
Type
Article
Information
Proceedings of the Design Society: DESIGN Conference , Volume 1 , May 2020 , pp. 657 - 666
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
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Copyright
The Author(s), 2020. Published by Cambridge University Press

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