Risk Handling Techniques of a New Product Development in the Industrial Sector

International Journal of Industrial Engineering

© 2016 by SSRG - IJIE Journal

Volume 3 Issue 3

Year of Publication : 2016

Authors : M.Sreenivas rao and T.Venkatakrishnan

10.14445/23499362/IJIE-V3I5P103

How to Cite?

M.Sreenivas rao and T.Venkatakrishnan, "Risk Handling Techniques of a New Product Development in the Industrial Sector," SSRG International Journal of Industrial Engineering, vol. 3,  no. 3, pp. 12-16, 2016. Crossref, https://doi.org/10.14445/23499362/IJIE-V3I5P103

Abstract:

The process of New product development and announce economic threat investigation have improved in significance by the reason of the requirement for advancement and speed, inspiring the growth of new models and works concerning this subject matter. As a result of the adjustment of customernecessities, the purposes and performance of products should be enhancedrapidly. In workplaces with aggressive competition, the effectiveimprovement of new products that confirmbetter functions and performance is essential for commercialexistence. Most initiatives have complications in fresh product improvement. Various risk aspects that arisein the course of product development are hindrances for the prosperous development of the goods.This paper is to evaluate and deliberaterecent methods working in the extent of threat management in product development. With the resolution of presenting the approaches in a plannedfashion, a common risk management process model is introduced.Thus, threatissues that may ensue during the product development must be documented all project steps, desires to be established.The purpose is to bond both concept and practice by uniting a comprehensive review with exploration into the industrial application of threat management.

Keywords:

New product development, risk management, product improvement, customer necessities.

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