Reconceptualizing design risk management as a learning strategy

Pelle Lundquist Willumsen; Josef Oehmen; Sidsel Katrine Ernstsen

doi:10.21278/idc.2018.0224

Reconceptualizing design risk management as a learning strategy

Pelle Lundquist Willumsen, Josef Oehmen, Sidsel Katrine Ernstsen

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Abstract

We observed how risk management (RM) is perceived to hinder radical innovation in companies. RM is perceived to kill good ideas too early before they were explored thoroughly or leads to cancellation of projects after several years of development time due to critical risks. This paper contributes an empirical investigation and show that a multitude of value propositions for RM exist, among them innovation. The paper proposes 5 practices to reconcile risk management and innovation, and reconceptualise risk management as a learning strategy that supports innovation.

Original language	English
Title of host publication	DS 92: Proceedings of the DESIGN 2018 15th International Design Conference
Publisher	Design Society
Publication date	2018
Pages	2529-2540
ISBN (Electronic)	978-953-7738-59-4
DOIs	https://doi.org/10.21278/idc.2018.0224
Publication status	Published - 2018
Event	DESIGN2018 - 15th International Design Conference - Dubrovnik, Croatia Duration: 21 May 2018 → 24 May 2018 http://www.designconference.org/

Conference

Conference	DESIGN2018 - 15th International Design Conference
Country/Territory	Croatia
City	Dubrovnik
Period	21/05/2018 → 24/05/2018
Internet address	http://www.designconference.org/

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title = "Reconceptualizing design risk management as a learning strategy",

abstract = "We observed how risk management (RM) is perceived to hinder radical innovation in companies. RM is perceived to kill good ideas too early before they were explored thoroughly or leads to cancellation of projects after several years of development time due to critical risks. This paper contributes an empirical investigation and show that a multitude of value propositions for RM exist, among them innovation. The paper proposes 5 practices to reconcile risk management and innovation, and reconceptualise risk management as a learning strategy that supports innovation. ",

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AB - We observed how risk management (RM) is perceived to hinder radical innovation in companies. RM is perceived to kill good ideas too early before they were explored thoroughly or leads to cancellation of projects after several years of development time due to critical risks. This paper contributes an empirical investigation and show that a multitude of value propositions for RM exist, among them innovation. The paper proposes 5 practices to reconcile risk management and innovation, and reconceptualise risk management as a learning strategy that supports innovation.

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ER -

Reconceptualizing design risk management as a learning strategy

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