The second one is epistemic uncertainty (also known as subjective uncertainty or reducible - certainty) – it is the uncertainty of the outcome of some random event due to lack of knowledge or information in any phase or activity of the modeling process.
New product development is a highly creative exercise, often involving an interdisciplinary decision making and execution process.
This book is a compendium of research articles on various issues concerning product research,
written by research scholars both from academia and industry.
The papers have been divided into four main parts. The first part is on innovation and information sharing in product design. The second part deals with decision making in engineering design.
The third part treats customer driven product definition, and the last part brings together articles on quantitative methods for product planning.