A Dynamic Risk Scrutiny on New Product Development Process

International Journal of Industrial Engineering
© 2015 by SSRG - IJIE Journal
Volume 2 Issue 3
Year of Publication : 2015
Authors : L.Baghadur and Dr. Fadahunsi C.V
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How to Cite?

L.Baghadur and Dr. Fadahunsi C.V, "A Dynamic Risk Scrutiny on New Product Development Process," SSRG International Journal of Industrial Engineering, vol. 2,  no. 3, pp. 9-13, 2015. Crossref, https://doi.org/10.14445/23499362/IJIE-V2I5P103

Abstract:

- In the energetic and spirited market, managers seek to discover effectual strategies for new product expansion. Since there has not been a meticulous research in this field, this study is based upon the review of the risks accessible in the NPD process and on the psychiatry of the risks during FMEA approach. Consequently, we can prioritize present risks and then model the actions of the NPD process and main risks throughout system dynamics. At first, we present new product development concepts and the key definitions. We base our study on the literature review of the NPD risks and then provide an FMEA approach to define risks priority. Using the obtained foremost risks, we model the NPD process risks applying system dynamics to investigate the system and the risk effects.

Keywords:

- Product development, Risk analysis, Dynamic Simulation, Systems thinking.

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