University Research Proposal: Risk Management and Product Development

This research proposal investigates the improvement of risk management performance and product development uncertainty. The study identifies uncertainties in product development, often stemming from a lack of information and experience, and proposes a methodology to address these challenges. The research includes a literature review, identifying research opportunities and proposing a positivism research philosophy with a deductive approach and descriptive research design. Qualitative research methodology, utilizing secondary data collection from journal articles and newspapers, will be employed. The expected results highlight the use of business intelligence tools to identify and mitigate risks, fostering innovation and professional network growth. The proposal outlines proposed publications, a timetable, and a comprehensive list of references.

Running head: RESEARCH PROPOSAL
Improving performance in risk management and product development uncertainty
Name of the Student
Name of the university
Author’s Note

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RESEARCH PROPOSAL
Table of Contents
1. Introduction including research issues.........................................................................................2
2. Literature review and identification of research opportunities....................................................2
3. Proposed methodology................................................................................................................4
4. Expected results...........................................................................................................................5
5. Titles of the proposed publications and newspapers...................................................................6
6. Timetable.....................................................................................................................................7
References........................................................................................................................................8

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RESEARCH PROPOSAL
1. Introduction including research issues
The paper mainly reflects on “improvement of risk management performance and
product development uncertainty”. It is found that the uncertainties or risks that occur during
product development is mainly due to lack of information, experience as well as due to use of
improper risk management strategies. This further creates problem during promotion of products
as well as while making technological changes in context to product development. The main aim
of the paper is to determine an appropriate way of risk management with the help of which
product related uncertainties can be resolved effectively. The paper reviews a number of journal
articles as well as newspapers in order to proper to analyze improvement within the risk
management performance as well as product development-based uncertainty.
Research problem
The domain of new product-based development is mainly subject to a considerable
amount of uncertainties and it is mainly due to the degree of innovativeness that is used for
product development as well as due to lack of information and experience of the team members.
In addition to this, unclear goals as well as unclear product specifications can also cause a
number of uncertainties including substantial delays within the project.
2. Literature review and identification of research opportunities
According to Laine, Korhonen and Martinsuo (2016), it is found that the companies
generally need to manage some of the innovative procedures quite effectively. In addition to this,
it is identified that the resulting demands generally leave the various companies struggling for
achieving flexibility as well as efficiency due to their often-opposing implications in order to
organize as well as manage different types of NPD related projects (Hong & Lee, 2019).

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RESEARCH PROPOSAL
It is stated by Hernandez et al. (2018) that shaving weeks off from the development
timeline generally can guarantee the companies about proper space for capitalizing everything
from being first to market as well as seasonal demands. However, it is found that the urge to save
time further helps in providing a number of opportunities in order to skip some of the important
development phases that further creates a lot of challenges and issues (Broekhuizen et al., 2017).
Furthermore, failing to properly organize as well as define product management related process
is considered as one of the major cause inabilities for launching the product effectively such that
no results can generally be derived from initial brainstorming. Moreover, a number of products
as well as software development-based companies have faced a lot of glitches when it generally
comes to proper handling of the competitive strategy as well as cost related requirements from
the initial phase to the design and implementation phase.
According to Bansal, Gutierrez and Keiser (2016), product management is considered as
the key for success while launching new products. It is quite necessary to properly track the
goals by effectively defining a plan and by properly defining different types of actionable goals
in order to decide the minimum margin of profit that an individual is mainly willing to accept for
a new type of product (Cash & Kreye, 2017). Furthermore, it is quite necessary to properly
define different types of sales plan, marketing plans as well as strategy launch for accomplishing
positive response from the customers. Furthermore, within the entire procedure of development,
it is necessary to properly test as well as experiment the product starting from ideation to proper
production and the ultimate project success or failure is mainly circling the customers
It is stated by Bastchen, Silva and Borsato (2018) that the project manager must utilize
proper product risk framework which is one of the business intelligence SW tools that is used by
the project teams for making proper product development related decisions. It further helps in

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enabling the product team for properly identifying, evaluating as well as prioritizing most
important sources of risk that is mainly associated with the product idea. It further employs a
number of behavioural economic approaches for rooting out uncertainties as well as risks
including proper risk framework (Hong & Lee, 2019). Furthermore, the product risk framework
helps in reducing different types of product uncertainty as well as risks throughout the entire
product development procedure. Moreover, risk profile helps in properly communicating
progress by properly reducing the product related risk that further assists in allowing risk
evaluation for the entire product portfolio.
3. Proposed methodology
Research philosophy
A research philosophy is considered as one of the beliefs about different types of way in
which the entire data about a particular phenomenon can be gathered, analyzed as well as
utilized. It is found that the research utilizes positivism research philosophy so that proper
information about improvement of risk management performance and product development
uncertainty can be properly gathered as well as analyzed (Polonsky & Waller, 2018).
Research approach
It is stated by Kumar (2019) that research approach is one of the plans as well as
procedures that mainly comprises of a number of steps of board assumptions for proper
collection of data quite effectively. In this specific research, deductive approach is mainly used
such that the researchers can properly analyze different techniques of risk management
performance for product development-based uncertainty.

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RESEARCH PROPOSAL
Research design
It is opined by Fletcher (2017) that research design is used for properly studying
different types of scientific challenges which are mainly associated with the research which is
undertaken. It is found that the undertaken research design generally helps in properly defining
the entire study. Out of different research design methods, descriptive method is used in this
research as by using this particular research design, the researchers can be able to get proper
information and knowledge that are mainly related with the theoretical framework for the entire
study. Furthermore, it helps in giving proper detailed information that is mainly associated with
the entire topic.
Research method
The research methodology is defined as one of the procedures as well as techniques that
are mainly utilized for identifying, selecting, processing as well as analyzing different types of
information. It is found that there are two different types of research methodology and they are
qualitative methodology and quantitative methodology.
Within this particular research paper, qualitative research methodology will be used and
in order to collect proper information for achieving the objectives of the research. It is identified
that information will be collected from different journal articles as well from the official websites
of the organization.
Data collection procedure
According to Page et al. (2017), data collection is mainly defined as one of the process
that helps in effectively gathering and measuring various types of data as well as information on
different types of targeted variables in a quite systematic fashion. The method of data collection

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RESEARCH PROPOSAL
is mainly considered as input in order to take proper decision that is mainly related with the
research that is undertaken. It is found that there are two different ways of data collection
including secondary data collection as well as primary data collection.
In this particular paper, secondary data collection procedure is mainly used for gathering
information and details about improvement of risk management performance and product
development uncertainty. It is found that a number of journal articles as well as newspapers are
reviewed for gathering details.
4. Expected results
After conducting the research, the researcher will get proper option with the help of
which improvement of risk management performance and product development uncertainty is
achieved successfully. It is found that the organization must utilize business intelligence SW
tools that further helps in identifying, evaluating as well as prioritizing most important sources of
risk that is mainly associated with the product idea which helps in reducing the chances of risks
as well as uncertainties during product development. As a result, the newly developed product
will be helpful in creating proper culture of innovation, assists in driving higher value of
proposition and it further helps in growing proper professional network.
5. Titles of the proposed publications and newspapers
The titles of the proposed publications as well as newspapers that are mainly used while
conducting the research effectively are listed below:
1. Risk management analysis in the product development process
2. Managing program impacts in new product development: An exploratory case study on
overcoming uncertainties

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RESEARCH PROPOSAL
3. Latency and Criticality of Uncertainties in the Development of Product-Service Systems
4. Quantifying uncertainties and risks using managerial judgments in a dynamic new product
development environment
5. Supply Chain Contracts under New Product Development Uncertainty

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RESEARCH PROPOSAL
6. Timetable
Activities Timeline
Week 1 Week 2 Week 3 Week 4 Week 5 Week 6
Topic
selecting
Finding
issues
Determining
solutions
Reviewing
articles and
newspapers
Research
methodolog
y selection
Creating
rough draft

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RESEARCH PROPOSAL
References
Bansal, S., Gutierrez, G. J., & Keiser, J. R. (2016). Quantifying uncertainties and risks using
managerial judgments in a dynamic new product development environment. Production
and Operations Management, 25(12), 2010-2013.
Bastchen, G., Silva, F., & Borsato, M. (2018). Risk management analysis in the product
development process. Procedia Manufacturing, 17, 507-514.
Broekhuizen, T. L., Giarratana, M. S., & Torres, A. (2017). Uncertainty avoidance and the
exploration-exploitation trade-off. European Journal of Marketing.
Cash, P., & Kreye, M. (2017). Uncertainty Driven Action (UDA) model: A foundation for
unifying perspectives on design activity. Design Science, 3.
Fletcher, A. J. (2017). Applying critical realism in qualitative research: methodology meets
method. International journal of social research methodology, 20(2), 181-194.
Hernandez, T. R., Kreye, M., & Pigosso, D. C. A. (2018). Latency and Criticality of
Uncertainties in the Development of Product-Service Systems. In The Spring
Servitization Conference. University of Aston in Birmingham.
Hong, J., & Lee, P. (2019). Supply Chain Contracts under New Product Development
Uncertainty. Sustainability, 11(23), 6858.
Kumar, R. (2019). Research methodology: A step-by-step guide for beginners. Sage Publications
Limited.

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RESEARCH PROPOSAL
Laine, T., Korhonen, T., & Martinsuo, M. (2016). Managing program impacts in new product
development: An exploratory case study on overcoming uncertainties. International
Journal of Project Management, 34(4), 717-733.
Page, D., Gilroy, M., Hurrion, E., Clark, L., & Wilkinson, S. (2017). Optimising early neonatal
nutrition using translational research methodology. Nutrition & Dietetics, 74(5), 460-470.
Polonsky, M. J., & Waller, D. S. (2018). Designing and managing a research project: A
business student's guide. Sage publications.