Activity

  • To me, risk/benefit ratio for a company mainly comes down to money. For any company that wants to create a high quality product, cutting corners should be kept to a minimum. However, there are certain specifications that can be made that will have the benefit of keeping costs down. One example would be designing a device that is only meant to last for 10 years instead of going with a more expensive material that can last 20 years. Choosing a material a cheaper material may come with the risk of breaking more easily or even degrading into toxic microparticles if it is an implantable device. Choosing a longer lasting material also involves some risks. If the device lasts so long that there is never a need to replace it, this may limit potential profits as opposed to a device that needs to be replaced multiple times. Therefore, I think comparing the risks to benefits of how the design will affect the customer should be the priority but comparing the risks to benefits as applied to the company should be a close second.