Product development processes are primarily driven by time, cost and consumer acceptance. Industries developing innovative products with a fast turnaround and demanding customers face a compounded problem due to risks, uncertainties and reliability issues inherent in the development of a new product. This paper tries to address these by developing and applying a methodology known as the Reliability and Quality Matrix (RQM) to the product development process of a Multi-National Company (MNC) that produces innovative domestic irons. The RQM is used to manage the risks, uncertainties and reliability issues of a new product. This involved facilitating a cross-functional product design team in developing a RQM. However from a product management and engineering perspective, the RQM displayed excellent potential. It served as a mechanism to manage the requirements of development, manufacturing and the end-customer with respect to the risks, uncertainties and reliability issues they pose.
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