Paper Title :Risk Management in the New Product Development by using the Failure Mode Effect Analysis [FMEA] - Case Study

Author :Prashant Chaudhari, Dadarao. N. Raut

Article Citation :Prashant Chaudhari ,Dadarao. N. Raut , (2022 ) " Risk Management in the New Product Development by using the Failure Mode Effect Analysis [FMEA] - Case Study " , International Journal of Mechanical and Production Engineering (IJMPE) , pp. 15-21, Volume-10,Issue-10

Abstract : Abstract – New Product Development life cycle Project is highly multi-disciplinary, which increase various associated risk. And the managing that risk is very important during the Whole Project Life Cycle. Risk is always very important factor to consider while handling the New Product Development Project, Risk can be impacted Negative and Positive effect on the Project. The main Objective of Research to identify the risks , quantify and monitoring the risk in the Product life cycle and Prepare for the Model by using the Failure mode effect analysis Technique for Improving the Project Performance in order to reduce the Project Delay, Quality Issue. Total 20 failure mode in the whole product development process are identified and Categorized based on the factor and each Failure are analyzed on the basis of Severity , Occurrence , Detection and Risk Priority Number (RPN). Risk are broken in the different category based on the RPN Number (Critical, low Negligible). Total 7Risk are Found as a Critical Failure which are very important and The Model are Prepared with Preventive action are suggested for Critical Failure with the Help of Failure Mode effect analysis Technique. Keywords - Risk Management, New Product Development, Failure mode effect analysis, Risk Identification.

Type : Research paper

Published : Volume-10,Issue-10

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