Risk Management of Technical Products in their Life Cycle

Abstract:

The requirements of customers and society significantly increase the ever higher and higher requirements on quality, cost and delivery time of technical products. This consequently imposes higher and higher demands on quality and truncation of the engineering design process which substantially affects these products’ competitive attributes as has been declared and proved many times. There are many approaches, methodologies or tools which support the engineering design process with the aim of designing such a technical product, which occupies its right place on the market and becomes fully competitive. The Design Process, as with other activities, also brings risks to the Product Life Cycle. Analysis of current approaches/methods are briefly mentioned in this paper and then a pure new concept for risk indication is presented.