Risk can be defined as uncertainty that could create opportunities or threats for businesses [13]. According to [14], the NPD has two types of risks, namely internal risks (e.g.operational, technology and organization risks) and external risks (e.g. market risk and suppliers risk). Risk management is needed to effectively manage all of those risks, to avoid company from failure and hence to enhance the possibility of company success in NPD project. Risk management can help the decision maker to evaluate and to decide whether a project is feasible to execute considering the company capability including organizational structure, level of technology, the ability of human resources, financial condition, production level and marketing level [14]. Risk management on NPD could improve decisions, solve problems and assist in stabilizing the NPD program [15]. There have been many research focused in risk management,but, according to Park [14], most of that these research were still limited in conceptual framework, hence requires more research that discuss risk management applications in other stages of NPD