Risk Management for New Product Development
Most companies want to increase the success rate or the time and cost to market launch, of their new product development and the commercialisation of their R&D work. Much of the disappointment comes from bad surprises leading to delays, development and manufacturing cost overruns, product performance shortfalls, poor sales figures and poor ROI. Robust risk assessment and management, supplementing well established NPD management processes are all vital to prevent, or at least minimise, these shortfalls.
For new product development (NPD) and the commercialisation of R&D projects, the need for risk management is still not well appreciated or understood, and therefore usually not formally applied. Indeed it is sometimes purposefully and dangerously ignored and even discouraged by senior management as being negative thinking, preparing excuses for lack of success and excuse for asking for more funding for risk contingencies.
This intensive 2 day course is to assist managers and staff working on NPD and R&D to improve their approaches to assessing and managing risks, to prevent or minimise as far as possible the damaging surprises and their impacts. The course will also help the participants to promote risk management to their seniors, peers, and juniors. The sessions, run as workshops will present risk management as a sensible requirement and provide the basics of the best approaches, methods and tools for it. Each session will typically consist of periods of presentations with cases and facilitated discussions. The various tools will be highlighted. The exchange of ideas and experience between the participants and the presenter will also be a valuable feature of the workshops.
Brief introduction of the Trainer
Dr Eur Ing John A Bauly Principal from John Bauly & Associates, Zurich, Switzerland and Singapore has a track record of over 25 years of hands on commercially successful new product development, R&D, technology and business management. He holds the Certification as an NPD Practitioner awarded by the Product Development and Management Association (PDMA), USA, the worlds foremost practice and academic Association for New Product Development. John has extensive project and risk management experience in telecommunication, power plant; electronic, residential and controls products; aircraft and automotive products, from working in those industries in Europe, North America, Singapore, Japan and Indonesia either as employed at director or CTO level in substantial companies like Pitney Bowes, ITT, and NEI (now Rolls Royce Power Engineering, UK), or as a consultant.