Title: Interpretive structural modelling of risk factors in new product development process: development of an integrated framework

Authors: Avanish Singh Chauhan; Gunjan Soni; Ajay Pal Singh Rathore

Addresses: Department of Mechanical Engineering, Malaviya National Institute of Technology Jaipur, Jaipur-302017, India ' Department of Mechanical Engineering, Malaviya National Institute of Technology Jaipur, Jaipur-302017, India ' Department of Mechanical Engineering, Malaviya National Institute of Technology Jaipur, Jaipur-302017, India

Abstract: The focus of this study is on exploring the risk factors affecting new product development (NPD) processes in manufacturing enterprises. Interpretive structural modelling (ISM) approach is utilised in this research for analysing the interactions between different risk pillars, and among various risk factors within each risk pillar. The findings of this study reveal the underlying relations between various risk factors prevalent in NPD process. The ISM based integrated framework developed in this study would enable engineering managers and practitioners of NPD in understanding the inter-dependencies among the risk factors and would help them in directing their resources towards mitigating these factors occurring in NPD initiatives of their enterprises. These finding would be beneficial for identifying the driving risk factors having major impact on product development process, enabling the decision makers to make informed choices while managing NPD projects.

Keywords: new product development; NPD; risk factors; risk pillars; interpretive structural modelling; ISM; integrated framework.

DOI: 10.1504/IJIE.2017.089235

International Journal of Intelligent Enterprise, 2017 Vol.4 No.4, pp.361 - 377

Received: 25 Sep 2017
Accepted: 09 Oct 2017

Published online: 02 Jan 2018 *

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