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Risks Management in Agile New Product Development Project Environments: A Review of Literature

Author

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  • Brian J. Galli

    (Assistant Professor and Graduate Program Director, Master of Science in Engineering Management Industrial Engineering, Hofstra University, USA)

  • Paola Andrea Hernandez Lopez

    (Long Island University, Brookville, USA)

Abstract

This article reviews the risks associated with the implementation of Agile Project Management practices in projects that involved new products development in manufacturing companies and identified according to existing research the best strategies to approach those risks. Further, this article analyzes the events that can affect the implementation of APM practices in projects that involve the development of new products within manufacturing companies and provides some strategies to mitigate, avoid, and minimize the likelihood if they become risks and its impact in the customer requirements. Principal risks in manufacturing companies were highlighted, and its probability and impact were evaluated regarding scope, quality, schedule, and cost. Risk responses and strategies were noted align with the purpose of the agile practices, which is to deliver innovative products quickly and with high-quality standards.

Suggested Citation

  • Brian J. Galli & Paola Andrea Hernandez Lopez, 2018. "Risks Management in Agile New Product Development Project Environments: A Review of Literature," International Journal of Risk and Contingency Management (IJRCM), IGI Global, vol. 7(4), pages 37-67, October.
    • Handle: RePEc:igg:jrcm00:v:7:y:2018:i:4:p:37-67
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    Cited by:

    1. Brian J. Galli & Fuwei Qiu, 2023. "A Reflection Note on Applying Quantitative Decision-Making Approaches to Engineering Management," International Journal of Applied Management Sciences and Engineering (IJAMSE), IGI Global, vol. 10(1), pages 1-9, January.

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