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A guide to using the power of design flexibility to improve the performance of complex technological projects, for designers, managers, users, and analysts. Project teams can improve results by recognizing that the future is inevitably uncertain and that by creating flexible designs they can adapt to eventualities. This approach enables them to take advantage of new opportunities and avoid harmful losses. Designers of complex, long-lasting projects--such as communication networks, power plants, or hospitals--must learn to abandon fixed specifications and narrow forecasts. They need to avoid the "flaw of averages," the conceptual pitfall that traps so many designs in underperformance. Failure to allow for changing circumstances risks leaving significant value untapped. This book is a guide for creating and implementing value-enhancing flexibility in design. It will be an essential resource for all participants in the development and operation of technological systems: designers, managers, financial analysts, investors, regulators, and academics. The book provides a high-level overview of why flexibility in design is needed to deliver significantly increased value. It describes in detail methods to identify, select, and implement useful flexibility. The book is unique in that it explicitly recognizes that future outcomes are uncertain. It thus presents forecasting, analysis, and evaluation tools especially suited to this reality. Appendixes provide expanded explanations of concepts and analytic tools.
Given that engineering flexibility can potentially provide a competitive advantage, the question then becomes: Precisely how valuable is this flexibility? However, traditional methods often fail to accurately capture the economic value of investments in an environment of widespread uncertainty and rapid change. The real options method represents the new state-of-the-art technique for valuation and management of strategic investments, enabling corporate decision-makers to leverage uncertainty and limit downside risk. Real Options in Engineering Design, Operations, and Management presents and synthesizes the body of knowledge in the area of real options for engineering systems. Providing case studies and step-by-step computations of real options valuation, it covers engineering applications across different disciplines such as industrial and civil engineering, and computer science. The authors review financial-option research results, consider how to quantify engineering activities, and analyze optimal business strategies based on a variety of real option models. They integrate academic work on real options in engineering, current practice, and discussion of future needs and opportunities. Flexibility in decision making allows firms to compete more effectively in a world of substantial price and demand uncertainty, product variety, short product life cycles, and rapid product development. And with more frequent demands being placed on engineering systems to change, managers and manufacturing systems must react to events as they unfold. This book explores a real options modeling framework for engineering transitions that allows decision makers to capture and investigate several alternatives for improving an engineering system.
strategy, but we also focus on execution. We talk about organizational design, and also refect on leadership practices. Our assumption is that in a dynamic world, leaders at all levels, have to constantly switch gears, wear different hats, and na- gate at different altitudes. They have to think about the “total” enterprise, not in terms of compartmentalized silos or felds of functional expertise. Much like a g- eral contractor, they have to draw on specialized expertise, as and when needed, yet keep the big picture in mind. Our hope is that our diagnostic tools can help teams develop a shared frame of reference and generate cross-functional dialogue. The third driving force behind this second edition is the gradual convergence between the worlds of entrepreneurial start-ups and challenges facing established corporations. Innovation, agility, and initiative are no longer the exclusive preserve of start-ups. Established companies are looking for ways to re-invent themselves, to innovate, to think creatively, and to make their enterprises more fexible, agile and entrepreneurial. We have had the good fortune to sit at the intersection of these two worlds. We hope our ideas can beneft both groups. We set out to provide a “buffet table”, a menu of options that can be helpful for the two ends of the spectrum.
This book provides a synthesis of recent developments in Axiomatic Design theory and its application in large complex systems. Introductory chapters provide concise tutorial materials for graduate students and new practitioners, presenting the fundamentals of Axiomatic Design and relating its key concepts to those of model-based systems engineering. A mathematical exposition of design axioms is also provided. The main body of the book, which represents a concentrated treatment of several applications, is divided into three parts covering work on: complex products; buildings; and manufacturing systems. The book shows how design work in these areas can benefit from the scientific and systematic underpinning provided by Axiomatic Design, and in so doing effectively combines the state of the art in design research with practice. All contributions were written by an international group of leading proponents of Axiomatic Design. The book concludes with a call to action motivating further research into the engineering design of large complex systems.
Control and Dynamic Systems: Advances in Theory and Applications, Volume 57: Multidisciplinary Engineering Systems: Design and Optimization Techniques and their Application deals with techniques used in the design and optimization of future engineering systems. Comprised of 11 chapters, this book covers techniques for improving product design quality in multidisciplinary systems. These techniques include decomposition techniques for synthesis process; optimization for aircraft systems; actuator and sensor placement; and robust techniques in system design and control process. Students, research workers, and practising engineers will find this book invaluable.
This book contains all refereed papers that were accepted to the third edition of the « Complex Systems Design & Management » (CSD&M 2012) international conference that took place in Paris (France) from December 12-14, 2012. (Website: http://www.csdm2012.csdm.fr) These proceedings cover the most recent trends in the emerging field of complex systems sciences & practices from an industrial and academic perspective, including the main industrial domains (transport, defense & security, electronics, energy & environment, e-services), scientific & technical topics (systems fundamentals, systems architecture& engineering, systems metrics & quality, systemic tools) and system types (transportation systems, embedded systems, software & information systems, systems of systems, artificial ecosystems). The CSD&M 2012 conference is organized under the guidance of the CESAMES non-profit organization (http://www.cesames.net).
The three volume set LNAI 4692, LNAI 4693, and LNAI 4694, constitute the refereed proceedings of the 11th International Conference on Knowledge-Based Intelligent Information and Engineering Systems, KES 2007, held in Vietri sul Mare, Italy, September 12-14, 2007. The 409 revised papers presented were carefully reviewed and selected from about 1203 submissions. The papers present a wealth of original research results from the field of intelligent information processing in the broadest sense; topics covered in the first volume are artificial neural networks and connectionists systems, fuzzy and neuro-fuzzy systems, evolutionary computation, machine learning and classical AI, agent systems, knowledge based and expert systems, hybrid intelligent systems, miscellaneous intelligent algorithms, intelligent vision and image processing, knowledge management and ontologies, Web intelligence, multimedia, e-learning and teaching, intelligent signal processing, control and robotics, other intelligent systems applications, papers of the experience management and engineering workshop, industrial applications of intelligent systems, as well as information engineering and applications in ubiquotous computing environments.

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