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Article

Identification and Prioritisation of Risk Factors in R&D Projects Based on an R&D Process Model

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Department of Systems Management Engineering, Sungkyunkwan University, 2066, Seobu-ro, Jangan-gu, Suwon-si, Gyeonggi-do 16419, Korea
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Department of Industrial Engineering, School of Engineering, Ajou University, Woncheon-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do 16499, Korea
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Department of Industrial & Systems Engineering, School of Engineering, Dongguk University, 30, Pil-dong-ro, Chung-gu, Seoul 04620, Korea
*
Author to whom correspondence should be addressed.
Sustainability 2018, 10(4), 972; https://doi.org/10.3390/su10040972
Received: 5 March 2018 / Revised: 19 March 2018 / Accepted: 24 March 2018 / Published: 27 March 2018
(This article belongs to the Section Sustainable Urban and Rural Development)
Although the importance of risk management and failure management has been emphasized in many organizations for sustainable development, most of the related studies have dealt with manufacturing or service processes, rather than R&D processes. Since R&D projects have high uncertainty in schedule and the quality of output, more attention should be paid to manage the risks of R&D activities. Thus, this paper proposes a systemic approach to performing R&D failure and risk management in the R&D process. To these ends, failure mode and effect analysis (FMEA) is employed, and is modified to meet the specific features of R&D activities with a stage-gate model that can identify the failure modes in each stage of the R&D process model. In addition, a process to prioritize the risks of R&D failure is suggested to support a decision-making process in R&D management, by applying the decision-making trial and evaluation laboratory (DEMATEL). The proposed approach is applied to a case of R&D process of a software development company, in order to illustrate its validity. This paper can help R&D managers to identify and cope with the risks in the R&D process by employing a systematic method. View Full-Text
Keywords: R& D failure; uncertainty; FMEA; DEMATEL; R& D process model; stage-gate model R&; D failure; uncertainty; FMEA; DEMATEL; R&; D process model; stage-gate model
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MDPI and ACS Style

Shin, J.; Lee, S.; Yoon, B. Identification and Prioritisation of Risk Factors in R&D Projects Based on an R&D Process Model. Sustainability 2018, 10, 972. https://doi.org/10.3390/su10040972

AMA Style

Shin J, Lee S, Yoon B. Identification and Prioritisation of Risk Factors in R&D Projects Based on an R&D Process Model. Sustainability. 2018; 10(4):972. https://doi.org/10.3390/su10040972

Chicago/Turabian Style

Shin, Junseok, Sungjoo Lee, and Byungun Yoon. 2018. "Identification and Prioritisation of Risk Factors in R&D Projects Based on an R&D Process Model" Sustainability 10, no. 4: 972. https://doi.org/10.3390/su10040972

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