Risk Evaluation

by Ian Wright

This booklet on Risk Evaluation introduces Engineering and Product Designers to the idea of project risk. All designers are familiar with selecting and evaluating concepts on the basis of how well they meet the product design specification (PDS). However, concept choice involves risks like "will I be able to make that tricky mechanism work?" or "can I get a control system with the sensitivity needed?" Such questions are largely unanswerable during the early stages of product development but firm-up as the project takes shape.A designer who does not recognise the presence of risk in the decisions being made, is left wide open to nasty surprises down line. This booklet is a monograph that provides an introduction to the evaluation of risk in product development decision making. It is a primer for practising engineers and a starter for undergraduates.The monograph introduces the topic in an easy to follow way and uses a case-study to illustrate how the principles might be applied. Perhaps most importantly, it shows how risk assessment can be used by engineers, product designers, marketing staff and production specialists to provide a common platform on which they can communicate their concerns to each other.The monograph will not turn you into an expert on project risk, but it will help you to decide if it is something that you should be using.

34 pages, Kindle Edition

Published February 18, 2012

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