New Product Development Risk Assessment in the Core Banking Using FMEA Combined with COPRAS Method and Grey Relations

Alireza Alinezhad (), Amir Amini () and Mahsa Rahmani
Additional contact information
Alireza Alinezhad : Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University
Amir Amini : Industrial Engineering, Alghadir Institute of Higher Education
Mahsa Rahmani : Faculty of Industrial and Mechanical Engineering, Qazvin Branch, Islamic Azad University

Journal of Money and Economy, 2015, vol. 10, issue 3, 87-121

Abstract: The present study tries to investigate the existing risks in the new product development process in the core banking field. Due to its use after production, new product development with the fewest errors and risks is always the subject of discussion and investigation among the researchers of this field. This study aims to investigate the most important risks existing in the new product development. The most important issue in this regard is that the market of manufactured products is increasingly competitive and the life-cycle of products is in decline due to environmental impacts. These factors force companies to follow such a process (new product development). Many techniques have been invented and applied in order to assess and manage the existing risks in different processes. Failure modes analysis technique and its resulted effects (FMEA) are considered as one of the most effective techniques that have been used for risk assessment of new product development in this study. Also, CORPAS-G method is used for prioritizing the detected risks. The purpose of this study is to identify the risks of new product and their priority for corrective measures to reduce the probable risks.

Keywords: Risk assessment; Risk management; New product development; Core banking; FMEA; COPRAS-G (search for similar items in EconPapers)
JEL-codes: D24 D40 D61 D81 D92 (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://jme.mbri.ac.ir/article-1-155-en.pdf (application/pdf)
http://jme.mbri.ac.ir/article-1-155-en.html (text/html)

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:mbr:jmonec:v:10:y:2015:i:3:p:87-121

Access Statistics for this article

More articles in Journal of Money and Economy from Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran Contact information at EDIRC.
Bibliographic data for series maintained by M. E. ().