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Project Risk Management in New Product Development Projects
Varanasi, Chitra
Varanasi, Chitra
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Abstract
New product development (NPD) projects are efforts of cross-functional teams conducted in organizations by following a set of processes to achieve set goals for features, cost, performance, and at the right time. NPD efforts involve uncertainties that cross-functional teams categorize as technical risks and non-technical risks.
The focus of the NPD teams is more towards the technical risks associated with a product and less on non- technical risks, which threaten attainment of the target cost, scope, and time constraints. Focusing on non-technical risk management enables teams to employ strategies to effectively counter them. The field project undertaken studies the NPD project stages, project management procedures and non-technical risk management procedures defined by guiding bodies and compares them with the procedures written by companies known for their NPD efforts.
Description
Date
2016-07-29