Comparing product development processes and managing risk

Darian W. Unger and Steven D. Eppinger

International Journal of Product Development, 2009, vol. 8, issue 4, 382-402

Abstract: Product Development Processes (PDPs) require careful design to reduce development time, create better products and manage the risks of bringing new products to market. This paper investigates the relationship between product development risk and PDP management. We begin by identifying risks and proposing several iteration- and review-based metrics by which PDPs can be effectively identified and compared. Data from ten company case studies demonstrate the utility of the proposed metrics and exemplify how different PDPs manage different risks. The cases also show that software companies face different risks and employ more flexible PDPs than manufacturing companies. We conclude that PDPs vary more than previously documented, that the proposed metrics are useful in distinguishing PDPs and that companies can tailor their PDP designs to suit their unique risk profiles.

Keywords: product development process; PDP management; risk management; innovation; technology management; development risk; risk profiles; software industry; manufacturing industry. (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijpdev:v:8:y:2009:i:4:p:382-402

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