Kris Project Management School

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A5 Product RD Risk Management

Course Introduction

In product RD, out of 100 initial proposals, only 10 will be given a formal 'go'. Out of those 10, only 5 will get into test manufacturing. And probably only 2 will actually get good sales in the market. And these 2 successful products' sales and profit probably accounts for 50% or more of a company's profits.

If this company's product RD projects' successful rate doubles, its sales and profit will clearly also double (or more). At the same time, internal RD resources use efficiency can increase. RD cost and time proportionately decrease, and the product can go to market sooner to enjoy higher sales prices, longer product lifecycle, and more profit.

What stops companies from getting into the above positive lifecycle? Let's look at product RD's 5 characteristics: temporary, unique, complex, uncertain, conflicting. It is easy to understand that for any product RD projects, issues, changes and risks are 3 main constraints. Therefore, only with effective management of the 3 constraints, can there be a decrease of various negative impacts. Thereby increasing project success rates.

Our "Product RD Risk Management" course uses case studies and exercises to guide students in the use of effective risk management processes, tools, techniques and skills. It will help you learn how to effectively control various risks in product RD, in order to increase product RD project success rates.

Course Contents

Day	No	Unit	Contents	Hours
Day 1	1	Course Introduction	Course introduction, teams forming, and assignments briefing	1.5
	2	Risk and Risk Management Definition	What is risk? What is risk management and its objectives? Project risks sources Psychological factors of identifying degrees of risks Characteristics of risk management
	3	Product RD Risk Management Strategies, Objectives and Scope Activities	Product RD project failure reasons and gravity Link between uncertainty and product RD risks Product RD risk management strategies and objectives Product RD risk management scope and activities
	4	Risk Management Methodology	Risk management's role in integrated project management system Link between risk management and issue, change, configuration managements. Risk management lifecycle, process, activities, tools and techniques Risk management process inputs and outputs	1.5
	5	Risk Identification	Risk identification definition and objectives Risk identification tools and methods Risk categories and risk breakdown structure	1.5
	6	Risk Analysis	Risk analysis definition and objectives Risk analysis data sources Define risk probability and impact Define risk priority number (RPN) and gravity level Risk prioritizing and sorting method	2
	7	Risk Mitigation Plan	Risk handling and mitigation definition and objectives Risk response strategies Risk response plan Risk contingency plan and emergency cash reserve	2
	8	Risk Monitoring and Control	Risk monitoring and control definition and objectives Risk monitoring tools and techniques Risk log Risk input form Risk monitoring and control outputs	2
	9	Risk Management Plan Preparation and Case Studies	Risk management plan contents, preparation method and case studies
	10	Discussion and Conclusion	Q&A

(In order to improve course quality, we reserve the right to modify course contents in part or in whole)

Course Benefits

Understand project risk management definition, process and characteristics.
Understand product RD risk management strategies, objectives, scope and activities.
Learn how to construct product RD project risk management plan.
Learn how to use Mindmap, Fishbone and WBS software tools to identify product RD risk items.
Learn how to use project risk analysis tools and techniques.
Learn how to use various risk response strategies to mitigate product RD risk impacts.
Learn how to use risk monitoring and control process, methods, tools, techniques and skills to ensure risk response strategies and plan are successfully implemented.
Learn how to construct product RD project risk response plan.

Course Targets and Execution

Target	Market and product planners, product RD designers and managers, purchasing managers, quality and manufacturing personnel, financial and cost controllers, and all those interested in RD time management and schedule compression.
Emphasis	RD risk management theoretical framework, process, procedures, forms, techniques, methodologies, actual practice and application.
Method	Case studies, templates, exercises, team discussions and presentations.
Time	09:00-12:00.13:00-17:00, 7 hours, 1 day

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