Management of R&D projects for best quality and minimal risk

Summary form only as given. The new product development process is a specific example of an R&D project. Rapid product development methods, based on concurrent engineering, increase the risk of project and product failure or its substandard quality. A research survey conducted among professionals involved in product development activity confirms that unrecognized or ignored risk and indecisiveness are responsible for a majority of project and product failures, which happen to 46% of new products on the market. The authors propose a new approach to project management based on risk assessment and decision making techniques