Schedule Risk Management Study On Project Of New Product Development

A project is a temporary endeavor undertaken to create a unique product, service, orresult. The temporary nature of projects indicates that a project has a definite beginningand end. Projects vary in size and complexity. All projects can be mapped to the followinggeneric life cycle structure by Starting the project, Organizing and preparing, Carrying outthe project work, and Closing the project. Project risk has its origins in the uncertaintypresent in all projects. If it occurs, has a positive or negative effect on one or more projectobjectives such as scope, schedule, cost, and quality.Similarly, new product development project also full of risks. The main point westudy in this paper is schedule risk management of new product development project,the schedule risks may bring the opportunity in the market for enterprise, but most of thenwill lead the project delay, which will bring huge loss. The most important role schedulerisk play is why we have to study the management ways. It will provide one more guideline to the enterprise during growing up.First part of the paper will introduce the study background, purpose and meaning,also the related theories, concepts and methods. The second part will introduce Scorporation and its LED new product development project. The third part is the mostimportant point we would like to study, it will introduce the Monte Carlo SimulationMethod, which will use for identifying the significant schedule risks of LED NPD project.The2ndstep of how to response the significant schedule risk will be discussed. Finally,Microsoft Project software will help draft a LED NPD project plan by according to thesimulation data. The basic manage method is ref. to PMBOK5th, from which there aresever main processes, the study is mainly using Monte Carlo Simulation for recognizesignificant schedule risk, and then give out the risk response method by considering the finaltarget and resources of the project. Microsoft Project tracking the real schedule and proved therisk management method is valuable. It will be a schedule risk template for S corporationwhen carry on NPD project in future, at least can take as a reference.