Applying lean thinking to risk management in product development

Pelle Lundquist Willumsen, Josef Oehmen, Monica Rossi, Torgeir Welo

    Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

    1705 Downloads (Pure)

    Abstract

    This paper re-conceptualizes risk management (RM) in product development (PD) through a lean thinking perspective. Arguably, risk management in PD projects became a victim of its own success. It is often implemented as a highly formalized, compliance driven activity, ending up disconnected from the actual value creation of the engineering task. Cost overrun, delay and low quality decision making is common in product development processes even if RM processes are in place. Product development is about reaching project objectives by gradually reducing uncertainty, but often fail to do so without delay or cost overrun. This paper explores the relationship between product development and risk management and proposes to make RM an integrated value adding part of PD. Through a literature review we identify the potential of re-conceptualizing RM through lean thinking. We then conceptualize an outline of how one could apply lean thinking to RM to create a simple, value focused and consensusforming perspective on how to make RM a meaningful part of PD.
    Original languageEnglish
    Title of host publicationDS 87-2 Proceedings of the 21st International Conference on Engineering Design (ICED 17) Vol 2: Design Processes, Design Organisation and Management
    PublisherDesign Society
    Publication date2017
    Pages269-278
    Publication statusPublished - 2017

    Fingerprint

    Dive into the research topics of 'Applying lean thinking to risk management in product development'. Together they form a unique fingerprint.

    Cite this