A risk analysis model in concurrent engineering product development.

Area of Science:

• Engineering Management
• Risk Management
• Manufacturing Systems

Background:

• Concurrent Engineering (CE) is a strategic approach adopted by companies to accelerate time-to-market and reduce costs.
• Product Development (PD) within CE environments faces inherent risks and challenges that require effective management.
• Existing risk analysis methods may not fully address the complexities of CE PD.

Purpose of the Study:

• To propose a novel three-dimensional early warning approach for managing risks in concurrent engineering product development.
• To integrate Graphical Evaluation and Review Technique (GERT) and Failure Modes and Effects Analysis (FMEA) for enhanced risk assessment.
• To demonstrate the practical application and value of the proposed risk management model in the manufacturing sector.

Main Methods:

• Development of a conceptual framework to categorize risks in CE PD.
• Integration of quantitative tools, including GERT, FMEA, and Product Database Management (PDM), for risk analysis.
• Creation and simulation of a risk management model for CE PD to identify critical risk control points.

Main Results:

• The proposed approach effectively classifies and analyzes various risks inherent in CE PD.
• Simulation models successfully identified key points for risk control within the CE PD process.
• The methodology provides a valuable tool for monitoring and mitigating risks in manufacturing.

Conclusions:

• The integrated GERT and FMEA approach offers a robust framework for CE PD risk management.
• The developed model provides actionable insights for controlling risks in product development.
• The study validates the effectiveness of the proposed approach through a case study in the Chinese motor industry.