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Risk Quantification for New Product Design and Development in a Concurrent Engineering Environment

✍ Scribed by B. Kayis; G. Arndt; M. Zhou; S. Savci; Y.B. Khoo; A. Rispler

Publisher
International Academy for Production Engineering
Year
2006
Tongue
English
Weight
147 KB
Volume
55
Category
Article
ISSN
0007-8506

No coin nor oath required. For personal study only.

✦ Synopsis

The challenges of product design and development in concurrent engineering are analysed. Bayesian Belief Networks are applied to map the relationships between risk events in a product's life-cycle. This approach enables the concurrency between risk items to be captured and the cumulative effects of dependencies between risk events to be determined. The inheritance of risks between different phases is modeled and quantified, which is impossible by traditional project management techniques. The combination of these factors has resulted in a user-interactive, unique dynamic risk management software package, which has been commercialised and deployed successfully by a major international manufacturer.

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