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Risk Assessment And Action Selection In Preliminary Design

Author

Listed:
  • CHUNG YEH

    (Department of Industrial Engineering and Systems Management, Feng Chia University, Taichung, 407, Taiwan, R.O.C.)

  • WEN-CHIN LIU

    (Aero Industry Development Corporation, 13FL-3, No. 388, Tung Hwa Rd., Pei-Tung Division, Taichung 406, Taiwan, R.O.C.)

  • CHIH-LIEH LEE

    (Aeronautical Systems Research Division, Chung-Shan Institute of Science and Technology, Taichung, 407, Taiwan, R.O.C.)

Abstract

New product development (NPD) has typically had strategic implications for the success and prosperity of an organization. This paper applied refined failure mode and effect analysis and genetic algorithm techniques to develop and establish an integrated risk analysis model for improving preliminary design of NPD. Three core items, technological performance, cost, and schedule risk, were used to improve the process of preliminary design and resource allocation in NPD projects. Risk severity, occurrence, and correlation characteristics are collected for each core item. A real study case was implemented to conclude an improving design decision and process change for NPD project.

Suggested Citation

  • Chung Yeh & Wen-Chin Liu & Chih-Lieh Lee, 2011. "Risk Assessment And Action Selection In Preliminary Design," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 8(01), pages 77-94.
    • Handle: RePEc:wsi:ijitmx:v:08:y:2011:i:01:n:s0219877011002210
    DOI: 10.1142/S0219877011002210
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