risk management

Managing Uncertainty and Risks in Product Development

To innovate successfully is exceedingly difficult in today’s environment, which often is characterized by volatility, uncertainty, complexity, and ambiguity. In some industries, change in the external environment is so radical that it can be hard to identify or predict. Customer preferences are in flux, uncertainty and risks is lurking in new technologies, unexpected competitors are offering better solutions, and constraints may be unclear or changing.

Attempting to identify and respond to the most pressing constraints and uncertainties can be complex, especially when change is occurring rapidly. To help companies manage this complexity, we developed a product development process called Exploratory PD (ExPD).

ExPD proposes a new approach to developing products, using a two-pronged solution: (1) treating product development from a comprehensive systems perspective, and (2) fundamentally redesigning the development process based on reducing project uncertainties and risk.

To learn more, read our Executive Version of ExPD or visit our ExPD site for further information, including case studies/infographics, blog articles and the latest information on our book and Business Fit Framework software tool.

We always look forward to hearing your feedback on this new approach to developing products.