A framework for managing risks on concurrent engineering basis

Recently, risk management in product development processes has been regarded as an important issue in many manufacturers. Although many different approaches have been suggested to deal with various risks frequently occurred in business level such as cost related fields, there have been few studies for managing various risks in plant level. This paper suggests a new risk management framework (RMF) for managing risks in product development processes. The RMF presents risk factors along with their degrees and shows the proper activities to respond to those risks on the basis of operations, processes and departments under concurrent engineering environment. Also, this framework adapts a network model to determine the optimized paths for establish a successful product development process. In this paper, we focus on the structure or architecture defending systematically various risks.