The Future of Design Methodology

Reconceptualizing Design Risk Management as a Learning Strategy

“…While risk management is frequently acknowledged in innovation management, there is little discussion on how it should actually be executed, or integrated into innovation management. (Boothe, 2014;Bowers and Khorakian, 2014;Neumann, 2016) However, both innovation management of radical innovation ideas and risk management are processes that deal with managing uncertainty: It can be easily imagined that they clash (Sharma, 1999), if risk management is seen as a process that excludes high-risk options. In our understanding, there is no fundamental reason why risk management cannot support managing high-risk undertakings.…”

“…We observed two failure modes discussed in the literature: Either risk management is perceived to kill good concepts too early before they were explored thoroughly (Sharma, 1999;Dodgson, 2013). Alternatively, a lack of risk management in the early phases leads to cancellation of projects after several years of development time due to unresolved and often undiscovered critical risks, with a general sentiment that an earlier involvement of risk management(RM) could have identified and resolved the risk (Boothe, 2014;Bowers and Khorakian, 2014;Neumann, 2016;Haughey, 2017). Risk management is an important aspect of design and design-related processes and project management (Olechowski et al, 2012;PMI, 2013).…”

“…Risk management is an important aspect of design and design-related processes and project management (Olechowski et al, 2012;PMI, 2013). Risk management is about understanding and managing the effect of uncertainty on objectives (ISO, 2009) and addressing them appropriately (Paté-Cornell, 1996), for instance through acquiring knowledge (Oehmen and Seering, 2011). The ISO 31000 risk management standard argues that a key principle of risk management is to "create and protect value".…”

“…According to (Bowers and Khorakian, 2014), there is very little discussion about explicitly combining risk management and innovation management theories and specific risk management approaches are rarely integrated in the front end development process (Neumann, 2016). Risk management is not a very well acknowledged part of innovation management, and most risk management initiatives are linked to the later stages of innovation (Chapman and Ward, 1996;Goffin and Mitchell, 2005;Ilevbare et al, 2014).…”

Risk Management in Product Development: Risk Identification, Assessment, and Mitigation – A Literature Review

“…Every factor is uncertain due to potential delays, cost overruns, mistakes, higher or lower customer demand than expected, etc. Even though product development can be considered a structural way to reduce uncertainty, product development processes often do not emphasize the reduction of uncertainty, but rather focus on increasing the efficiency of the product design system (Oehmen and Seering, 2011). Thus, in the terms of Kaplan and Miles (2012), product development organizations face preventable risks and strategy risks, and they need to develop and employ sound risk management processes to mitigate and respond to these risks and increase the likelihood of a successful, profitable product.…”