Tools To Manage Risk in New Product Development

Imagine this scenario: You’re a project manager in the Engineering department of a manufacturing company. You have a couple successful new product projects under your belt, and feeling confident. You’re proficient using Microsoft® Project and have an opportunity to manage the company’s next big, high-profile project. After a team meeting to kick off the project, you create a detailed Gantt chart. After all, that’s what you have used in the past, what could go wrong?  Continue reading

How Risk Impacts New Product Development

The only way to avoid risk in new product development is to never develop any new products. For most companies, that is not an option since new products are, or should be, an important growth driver.  Understanding, managing and mitigating risk, therefore, is inherent in innovation.  Continue reading