Project risk management in global manufacturing environment

Injection mold industry is a fundamental industry which decides competitiveness of manufacturing industries. Due to the OEM operation nature of injection mold industry, product standardization is difficult and market demands request short production lead time. Today, SMEs(Small and Medium-sized Enterprises) in injection mold industry seeks more efficient production process which can decrease lead time and cost by improving utilization of automated production equipment. However, compared to the other industries, injection mold industry become to be more specialized internationally and those manufacturing process needs tight data sharing and correlation between each process. Then project risk management becomes more important because multiple processes progress simultaneously with globally distributed manner with more uncertain conditions. In this paper, a project risk management method based on Bayesian Network model is proposed for accurate prediction of job completion time and preventing delay of delivery. Bayesian Network model is used as a probabilistic prediction tool to find risk of project delay and its root cause with means of measuring and monitoring performance of project progress.