Decision Analysis Approach For Improving Product Development Decision Quality
- Topics:
- Product Development and Design
- Tags:
- Business Operations,
- Decision Analysis,
- Management,
- Marketing,
- Product Development,
- Product Marketing,
- Research & Development,
- Strategy
- Source:
- Stanford University
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Overview: Product development decisions in the early stages of the development process critically impact life cycle cost and revenue potentials. Design for Manufacturability tools and methods provide key insights into product's requirements based on the voice of customers. Other quantitative analysis tools, such as computer aided modeling and optimization techniques enhance product developers' understanding in the products under development. However, the dynamic nature of product development process suffers from unavoidable risks due to the lack of information on key parameters of a product's life cycle. This paper introduces the fundamentals of Decision Analysis applicable to product development process as a way of dealing with dynamic product development risks. The application of specific tools is shown via a simulation game based on a robot platform development case.
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Format: PDF | Size: 349KB | Date: Sep 2005 | Pages: 10
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