| The competing environment has changed greatly because of the fast development of technology and the deepening constantly of economic globalization. The traditional product development approach cannot adapt to the market now. IPD, as an advanced approach of new product development, has been used in many companies. It has been proved that IPD can shorten the time of designing, reduce the cost and increase the profit, so as to create more value for the company and the customer.The new product development is a complicated process full of risk, which is influenced by many uncertain factors such as technology, market, organization, fund and so on. Therefore, the company must adopt proper strategies to identify, appraise and response to the risk, in order to develop the new product timely, thus created their own competition advantages.For Sigma Elevator as an example, this paper analyzes the approach and the risk of the new product development in this company. Firstly, by analyzing the application of IPD in the new product of Sigma Elevator, we summarize the experience and achievements of IPD deployment. Secondly, we analyze the risk of the new product development and the response strategies, to provide references for other companies. |
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