Journal article

Options-based multi-objective evaluation of product platforms

Javier P Gonzalez-Zugasti, Kevin N Otto, Clifford A Whitcomb

NAVAL ENGINEERS JOURNAL | AMER SOC NAVAL ENG INC | Published : 2007

Abstract

A platform is the set of elements and interfaces that are common to a family of products. Design teams must choose among feasible platform concepts upon which a product family could be based, often involving new technologies. Multiple performance objectives need to be considered. A standard approach is to convert the performance outcomes into financial figures, which can then be weighed against the required investments. However, it is not always possible to transform performance outcomes (benefits) into monetary terms, such as in defense or highly technical projects. A multi-objective form of real-options-based platform selection is developed. Systems are compared based on multiple technical..

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University of Melbourne Researchers