Risky Business

“Risk comes from not knowing what you're doing.” - Warren Buffett

Product development is a high risk environment due to inherent technical, market, and operational risks. ? What are the sources of these risks? Uncertainties in customer demand, product performance, and execution of development tasks are major contributors to risk. How can these risks be mitigated?

Dr. John Jackman is addressing this question in the context of product development decisions related to completing development tasks. By understanding the effects of uncertainty parameters on the product development process, we can make better decisions that will reduce the time to market for new products. For example, we can predict time to market based on the likelihood of being successful in a given task and the structure of a product development process.