New product development (NPD) is vulnerable to a wide variety of risks arising from within the firm or from the external environment. Existing categorizations of NPD project risks are partial or ill-defined and consequently there is no clear consensus among researchers and practitioners about what constitute NPD project risks.
To address this gap, this thesis deploys a systematic literature methodology to inductively develop a comprehensive risk taxonomy from a review of 124 empirical studies. This taxonomy is then empirically validated through a survey capturing data from 263 NPD projects conducted by UK firms. The thesis further investigated the moderating effect of NPD project type (incremental or radical), firm size (SMEs and large firms) and industry sectors on the proposed risk taxonomy. Variation in the perceptions of NPD risk by different members of the team was explored as well.
The findings revealed that the principal risk factors affecting NPD projects are technological rapidity risk, supply chain risk, lack of funding and resource risk. The risk profile of radical NPD projects differed to that of incremental projects. SMEs were more vulnerable to NPD project risks than large firms. Most risks influenced NPD projects equally across industrial sectors. Members of NPD project teams from different backgrounds or with different roles perceived risks differently.
The proposed taxonomy and its subsequent empirical validation provides a comprehensive and robust taxonomy for identifying and managing risks associated with different types of NPD project conducted by firms of varying sizes from different industrial sectors.
| Identifer | oai:union.ndltd.org:CRANFIELD1/oai:dspace.lib.cranfield.ac.uk:1826/12722 |
| Date | 01 1900 |
| Creators | Akram Afzal, Muhammad |
| Contributors | Pilbeam, C. |
| Publisher | Cranfield University |
| Source Sets | CRANFIELD1 |
| Language | English |
| Detected Language | English |
| Type | Thesis or dissertation, Doctoral, PhD |
| Rights | © Cranfield University, 2017. All rights reserved. No part of this publication may be reproduced without the written permission of the copyright holder. |
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