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Flexibility in engineering design

Author: Richard De Neufville; Stefan Scholtes
Publisher: Cambridge, Mass. : MIT Press, ©2011.
Series: Engineering systems.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
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  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
De Neufville, Richard, 1939-
Flexibility in engineering design.
Cambridge, Mass. : MIT Press, ©2011
(DLC) 2011002055
(OCoLC)702357296
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Richard De Neufville; Stefan Scholtes
ISBN: 9781613444115 1613444117 9780262303569 0262303566
OCLC Number: 773036015
Description: 1 online resource (xvi, 293 pages) : illustrations.
Contents: High-level overview --
Methods of analysis.
Series Title: Engineering systems.
Responsibility: Richard de Neufville and Stefan Scholtes.

Abstract:

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.
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"Planning for large-scale infrastructure systems is a problem as monumental as the systems themselves. De Neufville and Scholtes present a powerful and innovative new way of thinking about this Read more...

 
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