Generated Risk Event Effect Neutralization: Identifying and Evaluating Risk Mitigation Strategies during Conceptual Design

Abstract

In the design of new products and systems, the mitigation of potential failures is very important. The sooner potential mitigation strategies can be employed, the lower the cost of those changes will be. Still, there needs to be a means to generate and evaluate mitigation strategies to supplement the existing expertise of the designer. By combining a mitigation strategy taxonomy with various rating strategies, a means to quickly select strategies and demonstrate their effect on the risk of failure can be obtained. This paper explains the risk mitigation selection and evaluation methods, including the mapping calculations used to evaluate strategies and their use in a method to move from a functional model of a new product to a selection of mitigation strategies that can be compared, and select the best strategy for the product.

Meeting Name

22nd Annual International Symposium of the International Council on Systems Engineering and the 8th Biennial European Systems Engineering Conference (2012: Jul. 9-12, Rome, Italy)

Department(s)

Engineering Management and Systems Engineering

Second Department

Psychological Science

Keywords and Phrases

Functional model; Mitigation strategy; Potential failures; Risk mitigation; Risk mitigation strategy; Risk of failure; Selection and evaluations; Conceptual design; Systems engineering; Product design

International Standard Book Number (ISBN)

978-1622769162

Document Type

Article - Conference proceedings

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2012 International Council on Systems Engineering (INCOSE), All rights reserved.

Publication Date

12 Jul 2012

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