Risk management in product development Embedded verification and validation

Design involves two major risks: a product prototype will not align with the requirements/specifications for the product, and even if there is alignment with specifications, the product will not work in a user setting. Product development involves these key risk concepts that underlie the project risk management process, verification, and validation. Verification is the process of ensuring that a product design meets the specification for the product, e.g., that the design will do what the specifications would have it do. Validation is testing the product in a user setting to ensure that the product meets customer needs. Each of these risk strategies should be integrated into the product development process to yield useful data on both risks. Thus product development is a good example of the integration of risk into the project process.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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