A study of risk management and performance measures on new product development

Abstract

Purpose The purpose of this paper is to analyze the management process considering risks and performances in developing new products. Design/methodology/approach The paper provides risk factors and performance factors based on literature reviews and then discusses risk and performance management processes during the product development period. Some lessons for effective risk management and performance measures are reported. Findings The timing of risk management and performance measures is important to the impact level of performance. Practical implications This proposed framework could be used as a basis for systematic management of R&D investment projects. Originality/value The paper provides insights into the R&D committee's role in developing new products.