New Product Development
Considering Risk Potential to Enhance Engineering Decision Making During Planned Product Innovation
Kiran Khadke, John K. Gershenson, Karol I. Pelc
Paper presented at the IAMOT 2007, International Association for Management of Technology Conference 2007, Miami, FL, May 2007, published in: Sherif, H., Management of Technology for the Service Economy, Proceedings of 16th IAMOT Conference, CD Format, p. 2473 - 2486.
ABSTRACT
Planned product innovation is the systematic pursuit of technological opportunities for establishing new products or improving existing ones. In planned product innovation, it is important to consider the potential for change of each technology within the product, as well as each technology change’s corresponding risk potential. This paper presents a qualitative assessment of the risks associated with technology change potential analysis. Using the Planned Product Innovation Methodology (PPIM), a technology’s potential for change in performance level, principle of operation, and technology architecture can be identified. An associated qualitative perspective on the corresponding risk for each technology change option at product concept stage will aid designers in developing feasible alternatives early on in the design process. The Planned Product Innovation Risk Assessment method considers three dimensions of risk - envisioning risk, design risk, and execution risk - for each potential technology change option. In this method, risk in each dimension is calculated based on the amounts at stake and uncertainty, using pre-determined factors and guidelines. Assessment of the overall risk for each technology within a product can then be quantified. The method improves designers’ perception of new product development risks by segregating the types of technology changes and providing a comprehensive risk assessment framework for planned innovation. The discussion in this paper pertains only to the engineering risks and does not consider other risks such as consumer acceptance and marketing risks, and competitor risks.
Considering Risk Potential to Enhance Engineering Decision Making During Planned Product Innovation
Kiran Khadke, John K. Gershenson, Karol I. Pelc
Paper presented at the IAMOT 2007, International Association for Management of Technology Conference 2007, Miami, FL, May 2007, published in: Sherif, H., Management of Technology for the Service Economy, Proceedings of 16th IAMOT Conference, CD Format, p. 2473 - 2486.
ABSTRACT
Planned product innovation is the systematic pursuit of technological opportunities for establishing new products or improving existing ones. In planned product innovation, it is important to consider the potential for change of each technology within the product, as well as each technology change’s corresponding risk potential. This paper presents a qualitative assessment of the risks associated with technology change potential analysis. Using the Planned Product Innovation Methodology (PPIM), a technology’s potential for change in performance level, principle of operation, and technology architecture can be identified. An associated qualitative perspective on the corresponding risk for each technology change option at product concept stage will aid designers in developing feasible alternatives early on in the design process. The Planned Product Innovation Risk Assessment method considers three dimensions of risk - envisioning risk, design risk, and execution risk - for each potential technology change option. In this method, risk in each dimension is calculated based on the amounts at stake and uncertainty, using pre-determined factors and guidelines. Assessment of the overall risk for each technology within a product can then be quantified. The method improves designers’ perception of new product development risks by segregating the types of technology changes and providing a comprehensive risk assessment framework for planned innovation. The discussion in this paper pertains only to the engineering risks and does not consider other risks such as consumer acceptance and marketing risks, and competitor risks.
No comments:
Post a Comment