Identification and ranking of the risk factors involved in PLM implementation

Shikha Singh, Subhas Chandra Misra and Sameer Kumar

International Journal of Production Economics, 2020, vol. 222, issue C

Abstract: Risk is a threat to every activity or system due to uncertainty with each component. Uncertainty of a system rises as the number of components increases. While uncertain risk elements cannot be assessed deterministically, a probability measurement helps an organization to combat those threats. Introduction of the Product Lifecycle Management (PLM) concept in an organization has the potential to offer substantial benefits. However, there are multiple risks in implementing PLM systems, and adequate care must be taken during PLM initiatives to get the desired benefits. If there are lacunae in the management of a PLM initiative, the whole purpose of adopting PLM may be lost partially or totally. The risk assessment of PLM systems’ implementation is performed by employing integrated grey DANP (DEMATEL-based ANP) and grey TOPSIS techniques for the first time. By considering the category and attribute of each risk factor, this integrated model reveals the critical risk factors: an inappropriate choice of a PLM system, mismatch in required data formats, and inefficient resource estimation.

Keywords: Risk factors; PLM implementation; Aircraft manufacturing; Grey DEMATEL; ANP; DANP; Grey TOPSIS (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0925527319303160
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:proeco:v:222:y:2020:i:c:s0925527319303160

DOI: 10.1016/j.ijpe.2019.09.017

Access Statistics for this article

International Journal of Production Economics is currently edited by Stefan Minner

More articles in International Journal of Production Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().