Answered: true or false Risk assessment is not…

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

Related questions

Question

true or false

Risk assessment is not considered to be a success factor in new product development.

Expert Solution

Introduction:

Risk assessment is a crucial process in the development of new products.
It involves identifying and analyzing potential risks associated with the product's development, launch, and post-launch phases.
The purpose of risk assessment is to anticipate and mitigate potential problems that could arise and negatively impact the success of the product.
This process allows companies to make informed decisions and take necessary actions to minimize or avoid risks. In new product development, risk assessment plays a critical role in ensuring product quality, regulatory compliance, customer satisfaction, and overall success.
In this context, conducting a thorough risk assessment is essential for any company looking to develop and launch a new product.