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Link back to DTU Orbit Citation (APA):Oehmen, J., Olechowski, A., Kenley, C. R., & Ben-Daya, M. (2014). Analysis of the effect of risk management practices on the performance of new product development programs. Technovation, 34(8), 441-453. DOI: 10.1016441-453. DOI: 10. /j.technovation.2013 Analysis of the effect of risk management practices on the performance of new product development programs Highlights Investigates the association between risk management practices and new product development program performance  Based on extensive empirical data collected through survey  Presents new framework to define risk management success in NPD programs  Identifies six categories of risk management practices associated with success  Out of 95 analysed risk management "best practices", only 30 show significant associations with success. AbstractRisk management is receiving much attention, as it is seen as a method to improve cost, schedule, and technical performance of new product development programs. However, there is a lack of empirical research that investigates the effective integration of specific risk management practices proposed by various standards with new product development programs and their association with various dimensions of risk management success. Based on a survey of 291 new product development programs, this paper investigates the association of risk management practices with five categories of product development program performance: A. Quality Decision Making, B. High program stability; C. Open, problem solving organization; D. Overall NPD project success and E. Overall product success. The results show that six categories of risk management practices are most effective: 1. Develop risk management skills and resources; 2. Tailor risk management to and integrate it with new product development; 3. Quantify impacts of risks on your main objectives; 4. Support all critical decisions with risk management results; 5. Monitor and review your risks, risk mitigation actions, and risk management process; and 6. Create transparency regarding new product development risks. The data shows that the risk management practices are directly associated with outcome measures in the first three categories (improved decision making, program stability and problem solving). There is also evidence that the risk management practices indirectly associate with the remaining two categories of outcome measures (project and product success). Additional research is needed to describe the exact mechanisms through which risk management practices influence NPD program success. KeywordsRisk management, new product development, program management Manuscript (Final Revision): Effect of Risk Management Practices

 Users may download and print one copy of any publication from the public portal for the purpose of private study or research.  You may not further distribute the material or use it for any profit-making activity or commercial gain  You may freely distribute the URL identifying the publication in the public portal If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim.

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