Risk management methodology for the development of technological products in a multinational company

Abstract

A multinational company seeks innovative solutions to meet market needs and offer customers competitive products. This requires efficient and goal-oriented project management, in which a quality and risk management system adapted to the company is applied. Many of the projects have a high degree of complexity with specific requirements for each one. In this work methodology for risk management is developed taking into account the characteristics of the company and its products. The risk management model consists of four stages: Identification, Evaluation, Strategic Plan and, Monitoring and control of risks. This cyclical sequence makes it possible to consider all possible risks, assign priorities to them and carry out regular monitoring not only of them but also of their prevention and action measures. The methodology developed for risk management represents an appreciated value for the development of technological products of the company. This systematic and iterative process has identified risks, being able to define a strategic plan and control risks in projects that had not been previously taken into account. Without such a systematic approach, the probability that risks will not be identified or will be identified late is high. Finally, if the situation of the company is compared with the application of the developed risk management, the profits increase by approximately 6%, which is equivalent to approximately 3 million euros.