In view of the innumerable uncertainties involved in the product development process (PDP), it is essential to study the risks that can obstruct the course of the PDP. This study is even more relevant in the product design process, since it is here that the most important decisions involving the product conception are made and the greater part of product life cycle costs are defined. In this regard, guidelines for the conception of a risk management methodology for the product design process are presented here based on a bibliographical review and a critical analysis. Using these procedures, guidelines are defined to underpin the proposed methodology, considering not only the technical risks involved in the various phases of the product design process but also the management risks of the project. Based on this methodology, undesirable results can be avoided, the product design process can be improved, and the areas of expertise (integration, scope, time, cost, quality, human resources, communications and procurement) of project management can be defined. This paper concludes with a partial and general conceptual vision of the methodology to be developed.