Product Design (PD) currently faces challenges in new product development, since the industry is in a rush to introduce new products into the market, with customers demanding products that are faster, cheaper, and free from failure. In addition, global companies are trying to improve their product design risk assessment process to gain advantages over competitors, using proven tools like Failure Mode and Effect Analysis (FMEA) and mixing risk assessment methods. However, with current risks assessment tools and a combination of other methods, there is the opportunity to improve risk analysis. This document aims to reveal a novel integrated method, where FMEA, Pythagorean Fuzzy Sets (PFS), and Dimensional Analysis (DA) are cohesive in one model. The proposed method provides an effective technique to identify risks and remove uncertainty and vagueness of human intervention during risk assessment using the Failure Mode and Effect Analysis method. A real-life problem was carried out to illustrate the proposed method. Finally, the study was substantiated by using a correlation and sensitivity analysis, demonstrating the presented integrated method’s usefulness in decision-making and problem-solving.

The new product development process (NPDP) is crucial for maintaining business up and running in manufacturing corporations worldwide. NPDP helps firms improve their profits, where stakeholder attention is mostly focused. NPDP Risk Assessment (NPDP-RA) is a vital activity to achieve a successful new product launch. However, managing different kinds of risks over the process presents enormous challenges; thus, risk assessment over NPDP still shows gaps, even when different tools are employed to identify, mitigate, and eliminate risks throughout the process. The identified gaps are mainly produced because the uncertainty added by the individuals assessing the risks, and the currently used tools are generally focused on a single phase of the NPDP, disregarding the stakeholders’ project objectives. This paper presents the main NPDP risks for stakeholders through the NPDP phases; likewise, the integration of Pythagorean fuzzy dimensional analysis – failure mode and effect analysis and value stream mapping (PFDA-FMEA-VSM). This novel integrated method is intended to improve the manner to perform the NPDP-RA for stakeholders. A practical example is presented to demonstrate the proposed integration of PFDA-FMEA-VSM for stakeholders at NPDP of electronic devices project.