Risk assessment in concurrent engineering

A method is proposed for decomposing the decision making process based on risk factors in product development (e.g., redesign risk, schedule risk). The IDEF3 methodology is used to capture the macro-decision structure of the design process. Decision sets are identified based on logical connectors in the IDEF3 model. Each decision set corresponds to alternative paths through the IDEF3 model. A risk value is calculated for each path, thus, providing a measure of risk for the corresponding decision set. As a result, the paper (1) provides a method for decomposing the complex decision process inherent to concurrent design, and (2) extends the usefulness of IDEF3 models by integrating IDEF3 semantics, quantitative data, and a formal analysis procedure.