Benchmarking a new design management system using process simulation approach

Abstract

Purpose – The purpose of the paper is to put forward a researchbased argument on the benefits of simulation approach in managing design at an early stage of a project. Having selected an optimal design configuration, the operational uncertainties can be removed and investment decisions are fully justified over the lifecycle of projects. Design/methodology/approach – A simulationbased methodology embodying balanced scorecard (BSC) for measuring the operational and business performance has been synthesised in the research. Multicriteria decision analysis (MCDA) has been employed to evaluate the tradeoffs between feasible design alternatives and to select the optimum design configuration. F..