A dynamic risk analysis on new product development process

Abstract In the dynamic and competitive market, managers seek to find effective strategies for new products development. Since There has not been a thorough research in this field, this study is based on a review on the risks exist in the NPD process and an analysis of risks through FMEA approach to prioritize the existent risks and a modeling behavior of the NPD process and main risks using system dynamics. First, we present new product development concepts and definition. We then based our study on a literature review on the NPD risks and then provide an FMEA approach to define risks priority. Using the obtained main risks, we model the NPD process risks applying system dynamics to analyze the system and the risks effect on. A safety clothing manufacturer is considered as a case study.