TITLE:
An Enhanced CPI-Based Framework for Risk Management in New Energy Vehicle Development
AUTHORS:
Yu Li, Jiaona Xie, Mamuti Malina, Linlin Liu, Hongding Tong, Fuyi Bai, Ruijie Zhang
KEYWORDS:
NEV Project, Risk Management, Risk Qualitative Assessment, Three-Dimensional Assessment
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.16 No.6,
June
22,
2026
ABSTRACT: The rapid expansion of the global new energy vehicle (NEV) industry has introduced unprecedented technical, operational, and systemic risks, driven by increasing system complexity and intelligent connectivity features. This study critically examines prevailing risk management practices in NEV development and evaluates the effectiveness of existing qualitative risk assessment approaches used by automakers. The analysis reveals significant methodological limitations, particularly in consistency, standardization, and decision-support capability. To address these gaps, this paper develops an enhanced Criticality Priority Index (CPI) framework that integrates maturity assessment into a structured three-dimensional risk evaluation model. By embedding technological maturity and process readiness into CPI calculations, the proposed approach strengthens the analytical rigor and comparability of qualitative risk assessments. The study validates the enhanced framework through empirical case applications, demonstrating its superiority over conventional qualitative methods in risk classification accuracy and managerial usability. Furthermore, the findings show that the enhanced CPI model improves risk-level discrimination, supports more precise resource prioritization, and enhances project-level decision-making under uncertainty. Overall, the research advances risk management methodology for complex engineering projects and provides a practical, multi-dimensional assessment tool tailored to the technologically intensive environment of NEV development.