IRMAS – development of a risk management tool for collaborative multi‐site, multi‐partner new product development projects

Abstract

Purpose -The purpose of this paper is to develop comprehensive risk management tool, Intelligent Risk Mapping and Assessment System (IRMASe) with a contingency for multi-site, multi-partner concurrent engineering projects with the aim of achieving above-mentioned paradigms. Its unique knowledge warehouse enables the use of organisational knowledge, lessons learnt, captured as well as best practices to minimise risks in project management. Design/methodology/approach -IRMAS is designed to identify, prioritise, analyse and assist project managers to manage perceived sources of concurrent engineering risks. Several knowledge elicitation techniques were used to compile the knowledge used for the intelligent system developed. The core of the research is the reasoning methodology that not only supports the decision-making process of the user, but also aids the knowledge retrieving, storing, sharing and updating process of manufacturing organisations.

Risk Management in Product Design: Current State, Conceptual Model and Future Research

“…The literature contains examples of companies that standardized their risk management process across their different projects according to corporate guidelines, or across multiple teams on different sites in the same project [12,13,[24][25][26]. Other papers explicitly integrate risks across different sources (i.e.…”

“…By conducting a fault trees analysis (FTA) or developing cause-and-effect diagrams, related risks can be identified systematically [14,26]. Checklists ensure that risks from previous PD projects are considered [14,18,25].…”

“…[18,25,45,46]), it is difficult to identify concrete examples of actual risk treatment options in PD. No examples could be identified in the literature that showed the assessment of alternative treatment options and a structured selection process.…”

“…The remainder of the paper consists of a brief description of the research method, an overview of risk management process frameworks for PD, especially the ISO 31000 framework, a discussion of the PD risk management literature by process step, a summary of the findings, and the conclusion. Risk management processes [8,[10][11][12][13][14][15][16][17][18][19][20][21][22][23] RM process elements Communication and consultation [3,12,13,[17][18][19][20][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39] Establishing the context [14,18] Risk identification [14,18,[25][26][27][40][41][42]…”

Risk Management for Overseas Development Projects

“…One of the most important steps in project risk management believed by many authors is the identification of risks. Once risks have been identified, it is possible to adopt action to address it (Kayis and Ahmed, 2007). Accordingly, this paper is intent to identify and assess unique risks faced by overseas development projects and the response strategy to these risks.…”