Pub Date : 2016-01-02DOI: 10.1080/1941658X.2016.1155185
Amir Reza Kashani Pour, P. Sandborn, Qingbin Cui
Understanding the total life-cycle cost is an essential part of all sustainment contracts. Sustainment constitutes 70% or more of the total life-cycle cost of safety-, mission-, and infrastructure-critical systems. For many types of systems, availability is the most critical factor in determining the total life-cycle cost of the system. To address this, availability-based contracts have been introduced in the governmental and non-governmental acquisitions space (e.g., energy, defense, transportation, and healthcare). As a result, in the new service-oriented environment, formulating contracts in cost effective ways (for both the customer and the contractor) is of great importance for pricing, negotiations, and transparency. Meanwhile, the development, implementation, and impact of contract and availability requirements within contracts is not well understood. This article reviews quantitative studies that address the critical elements for designing availability-based contracts. Assessments of current methodologies ranging from optimization- to simulation-based methods in domains of practice that utilize availability-based contracts are included, and research gaps are identified.
{"title":"Review of Quantitative Methods for Designing Availability-Based Contracts","authors":"Amir Reza Kashani Pour, P. Sandborn, Qingbin Cui","doi":"10.1080/1941658X.2016.1155185","DOIUrl":"https://doi.org/10.1080/1941658X.2016.1155185","url":null,"abstract":"Understanding the total life-cycle cost is an essential part of all sustainment contracts. Sustainment constitutes 70% or more of the total life-cycle cost of safety-, mission-, and infrastructure-critical systems. For many types of systems, availability is the most critical factor in determining the total life-cycle cost of the system. To address this, availability-based contracts have been introduced in the governmental and non-governmental acquisitions space (e.g., energy, defense, transportation, and healthcare). As a result, in the new service-oriented environment, formulating contracts in cost effective ways (for both the customer and the contractor) is of great importance for pricing, negotiations, and transparency. Meanwhile, the development, implementation, and impact of contract and availability requirements within contracts is not well understood. This article reviews quantitative studies that address the critical elements for designing availability-based contracts. Assessments of current methodologies ranging from optimization- to simulation-based methods in domains of practice that utilize availability-based contracts are included, and research gaps are identified.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124625590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-01-02DOI: 10.1080/1941658X.2016.1155186
Bradley C. Boehmke, Alan W. Johnson, E. White, J. Weir, Mark A. Gallagher
Current constraints in the fiscal environment are forcing the Air Force, and its sister services, to assess force reduction considerations. With significant force reduction comes the need to model and assess the potential impact that these changes may have on support resources. Previous research has remained heavily focused on a ratio approach for linking the tooth and tail ends of the Air Force cost spectrum and, although recent research has augmented this literature stream by providing more statistical rigor behind tooth-to-tail relationships, an adequate decision support tool has yet to be explored to aid decision-makers. The authors of this research directly address this concern by introducing a systematic approach to perform tooth-to-tail policy impact analysis. First, multivariate linear regression is applied to identify relationships between the tooth and tail. Then, a novel decision support system with Bayesian networks is introduced to model the tooth-to-tail cost consequences while capturing the uncertainty that often comes with such policy considerations. Through scenario analysis, the authors illustrate how a Bayesian network can provide decision-makers with (i) the ability to model uncertainty in the decision environment, (ii) a visual illustration of cause-and-effect impacts, and (iii) the ability to perform multi-directional reasoning in light of new information available to decision-makers.
{"title":"Tooth-to-Tail Impact Analysis: Combining Econometric Modeling and Bayesian Networks to Assess Support Cost Consequences Due to Changes in Force Structure","authors":"Bradley C. Boehmke, Alan W. Johnson, E. White, J. Weir, Mark A. Gallagher","doi":"10.1080/1941658X.2016.1155186","DOIUrl":"https://doi.org/10.1080/1941658X.2016.1155186","url":null,"abstract":"Current constraints in the fiscal environment are forcing the Air Force, and its sister services, to assess force reduction considerations. With significant force reduction comes the need to model and assess the potential impact that these changes may have on support resources. Previous research has remained heavily focused on a ratio approach for linking the tooth and tail ends of the Air Force cost spectrum and, although recent research has augmented this literature stream by providing more statistical rigor behind tooth-to-tail relationships, an adequate decision support tool has yet to be explored to aid decision-makers. The authors of this research directly address this concern by introducing a systematic approach to perform tooth-to-tail policy impact analysis. First, multivariate linear regression is applied to identify relationships between the tooth and tail. Then, a novel decision support system with Bayesian networks is introduced to model the tooth-to-tail cost consequences while capturing the uncertainty that often comes with such policy considerations. Through scenario analysis, the authors illustrate how a Bayesian network can provide decision-makers with (i) the ability to model uncertainty in the decision environment, (ii) a visual illustration of cause-and-effect impacts, and (iii) the ability to perform multi-directional reasoning in light of new information available to decision-makers.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"390 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115981965","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/1941658x.2015.1098517
{"title":"Editorial Board EOV","authors":"","doi":"10.1080/1941658x.2015.1098517","DOIUrl":"https://doi.org/10.1080/1941658x.2015.1098517","url":null,"abstract":"","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124061822","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/1941658X.2015.1096219
Gregory Brown, E. White, J. Ritschel, Michael J. Seibel
Early research on time phasing primarily focuses on the theoretical foundation for applying the cumulative distribution function, or S-curve, to model the distribution of development expenditures. Minimal methodology prior to 2002 provides for estimating the S-curve’s parameter values. Brown et al. (2002) resolved this shortcoming through regression analysis, but their methodology is not specific to aircraft and does not consider aircraft-specific variables, such as first flight. Using a sample of 26 Department of Defense aircraft programs, we build upon Brown et al.’s work by examining whether a model driven by aircraft-specific variables can more accurately predict budget requirements. As a baseline, we compare our model to the commonly cited 60/40 “rule of thumb,” which assumes 60% expenditures at 50% schedule. We discover that our developed Weibull model explains 74.6% of total variation in annual budget, improving the estimation of budgets by 6.5%, on average, over the baseline 60/40 model.
{"title":"Time Phasing Aircraft R&D Using the Weibull and Beta Distributions","authors":"Gregory Brown, E. White, J. Ritschel, Michael J. Seibel","doi":"10.1080/1941658X.2015.1096219","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1096219","url":null,"abstract":"Early research on time phasing primarily focuses on the theoretical foundation for applying the cumulative distribution function, or S-curve, to model the distribution of development expenditures. Minimal methodology prior to 2002 provides for estimating the S-curve’s parameter values. Brown et al. (2002) resolved this shortcoming through regression analysis, but their methodology is not specific to aircraft and does not consider aircraft-specific variables, such as first flight. Using a sample of 26 Department of Defense aircraft programs, we build upon Brown et al.’s work by examining whether a model driven by aircraft-specific variables can more accurately predict budget requirements. As a baseline, we compare our model to the commonly cited 60/40 “rule of thumb,” which assumes 60% expenditures at 50% schedule. We discover that our developed Weibull model explains 74.6% of total variation in annual budget, improving the estimation of budgets by 6.5%, on average, over the baseline 60/40 model.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123223230","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/1941658X.2015.1096221
A. Lelkes
This study introduces Modified Duration-Based Costing (MDBC) as an alternative to Duration-Based Costing (DBC) developed in Lelkes and Deis (2013). Both DBC and ABC have a tendency to treat fixed costs as though they were variable. This study expands on the DBC model by showing an alternative way of dealing with fixed costs instead of treating them as variable costs. This study uses analytical methodology and simulations to analyze MDBC relative to an Activity-Based Costing (ABC) system. The results of this study imply that the proportion of fixed costs will affect how close the MDBC cost assignments are to those of ABC. The lower the proportion of fixed costs, the closer the MDBC cost assignments are to those of ABC. MDBC has the potential to be a feasible alternative of ABC. MDBC is valuable if, for decision-making purposes, management wants to keep the effects of fixed costs separate from variable costs. Moreover, using MDBC is less costly and easier to implement, maintain, and update than ABC.
{"title":"Modifying Duration-Based Costing to Illustrate the Effect of Fixed Costs","authors":"A. Lelkes","doi":"10.1080/1941658X.2015.1096221","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1096221","url":null,"abstract":"This study introduces Modified Duration-Based Costing (MDBC) as an alternative to Duration-Based Costing (DBC) developed in Lelkes and Deis (2013). Both DBC and ABC have a tendency to treat fixed costs as though they were variable. This study expands on the DBC model by showing an alternative way of dealing with fixed costs instead of treating them as variable costs. This study uses analytical methodology and simulations to analyze MDBC relative to an Activity-Based Costing (ABC) system. The results of this study imply that the proportion of fixed costs will affect how close the MDBC cost assignments are to those of ABC. The lower the proportion of fixed costs, the closer the MDBC cost assignments are to those of ABC. MDBC has the potential to be a feasible alternative of ABC. MDBC is valuable if, for decision-making purposes, management wants to keep the effects of fixed costs separate from variable costs. Moreover, using MDBC is less costly and easier to implement, maintain, and update than ABC.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117184175","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-09-02DOI: 10.1080/1941658X.2015.1096220
C. Smart
When Jimmy Buffett sang the words “All of those tourists covered with oil” in his song Margaritaville he probably never imagined that this phrase might apply to crude oil instead of suntan lotion. Both the cost and the environmental impact from the 2010 oil spill in the Gulf of Mexico were much worse than anyone had expected or could have predicted. It was, in the words of financial writer, Nassim Taleb, a “black swan”—an unexpected event with tremendous consequences. These types of events, like Hurricane Katrina in 2005, the giant tsunami in the Indian Ocean in 2004, and the financial crisis that began in 2007, are all examples of events with huge impacts that were hard to foresee. In the arena of government projects, outsized events, such as the Challenger and Columbia Space Shuttle disasters, cost billions of extra dollars and are not budgeted against. It may be reasonable to not budget for some events that are outside of the project management’s control, since doing so will likely lead to excess reserves that go unspent. Unlike natural disasters, project managers have some control over their destiny to the extent that they can meet budget, schedule, and scope by cutting content, and in the cases of extreme overruns, those in authority can cancel projects once they become unmanageable. But budgets for public projects typically include very little risk reserves and do not account for even minimal changes in a project’s design or relatively mild external forces that should be accounted for. In this article, the author examines historical cost risk analyses and compares them to final actual costs, finding significant differences between the two. Reasons for under-representation of risk are discussed, and remedies for this situation are discussed, including the notion of calibration.
{"title":"Covered with Oil: Incorporating Realism in Cost Risk Analysis","authors":"C. Smart","doi":"10.1080/1941658X.2015.1096220","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1096220","url":null,"abstract":"When Jimmy Buffett sang the words “All of those tourists covered with oil” in his song Margaritaville he probably never imagined that this phrase might apply to crude oil instead of suntan lotion. Both the cost and the environmental impact from the 2010 oil spill in the Gulf of Mexico were much worse than anyone had expected or could have predicted. It was, in the words of financial writer, Nassim Taleb, a “black swan”—an unexpected event with tremendous consequences. These types of events, like Hurricane Katrina in 2005, the giant tsunami in the Indian Ocean in 2004, and the financial crisis that began in 2007, are all examples of events with huge impacts that were hard to foresee. In the arena of government projects, outsized events, such as the Challenger and Columbia Space Shuttle disasters, cost billions of extra dollars and are not budgeted against. It may be reasonable to not budget for some events that are outside of the project management’s control, since doing so will likely lead to excess reserves that go unspent. Unlike natural disasters, project managers have some control over their destiny to the extent that they can meet budget, schedule, and scope by cutting content, and in the cases of extreme overruns, those in authority can cancel projects once they become unmanageable. But budgets for public projects typically include very little risk reserves and do not account for even minimal changes in a project’s design or relatively mild external forces that should be accounted for. In this article, the author examines historical cost risk analyses and compares them to final actual costs, finding significant differences between the two. Reasons for under-representation of risk are discussed, and remedies for this situation are discussed, including the notion of calibration.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117342784","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-05-04DOI: 10.1080/1941658X.2015.1070562
R. Valerdi
This article provides an historical account of the development of the field of software cost estimation, specifically the area of parametrics, through information obtained during interviews of 13 pioneers in the field. Cost model developers, users, and practitioners were interviewed with the intent to capture their views on the impact between cost estimation research and practice. Each perspective sheds light on the areas in which the field of parametrics has had an impact and which synergies have been influential in the development of the field. The implications of the findings are discussed in light of the future challenges for the field of parametrics.
{"title":"Pioneers of Parametrics: Origins and Evolution of Software Cost Estimation","authors":"R. Valerdi","doi":"10.1080/1941658X.2015.1070562","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1070562","url":null,"abstract":"This article provides an historical account of the development of the field of software cost estimation, specifically the area of parametrics, through information obtained during interviews of 13 pioneers in the field. Cost model developers, users, and practitioners were interviewed with the intent to capture their views on the impact between cost estimation research and practice. Each perspective sheds light on the areas in which the field of parametrics has had an impact and which synergies have been influential in the development of the field. The implications of the findings are discussed in light of the future challenges for the field of parametrics.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123435642","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-05-04DOI: 10.1080/1941658X.2015.1064046
Bradley C. Boehmke, Alan W. Johnson, E. White, J. Weir, Mark A. Gallagher
“Bending the cost curve” has become the ambiguous jargon employed in recent years to emphasize the notion of changing unwanted cost trends. In response to the planned $1 trillion Department of Defense budget reduction over the next six years, the Air Force has launched its own Bending the Cost Curve initiative in an effort to reduce cost growth. A principal concern with Bending the Cost Curve initiatives and research to date is the central focus on aggregate cost trajectories which can obscure the true underlying growth curves which require attention. In response, the authors apply a novel growth curve clustering approach to identify underlying cost curve behavior across the Air Force enterprise. They find that micro-level growth curves vary greatly from the aggregate cost curves. Furthermore, they illustrate how this approach can help decision-makers to direct their focus, proposals, and policy actions toward specific growth curves that must be “bent.”
{"title":"Bending the Cost Curve: Moving the Focus from Macro-level to Micro-level Cost Trends with Cluster Analysis","authors":"Bradley C. Boehmke, Alan W. Johnson, E. White, J. Weir, Mark A. Gallagher","doi":"10.1080/1941658X.2015.1064046","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1064046","url":null,"abstract":"“Bending the cost curve” has become the ambiguous jargon employed in recent years to emphasize the notion of changing unwanted cost trends. In response to the planned $1 trillion Department of Defense budget reduction over the next six years, the Air Force has launched its own Bending the Cost Curve initiative in an effort to reduce cost growth. A principal concern with Bending the Cost Curve initiatives and research to date is the central focus on aggregate cost trajectories which can obscure the true underlying growth curves which require attention. In response, the authors apply a novel growth curve clustering approach to identify underlying cost curve behavior across the Air Force enterprise. They find that micro-level growth curves vary greatly from the aggregate cost curves. Furthermore, they illustrate how this approach can help decision-makers to direct their focus, proposals, and policy actions toward specific growth curves that must be “bent.”","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129014356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-05-04DOI: 10.1080/1941658X.2015.1062817
Shedrick M Bridgeforth, J. Ritschel, E. White, Grant Keaton
Traditional earned value management techniques to predict final costs of space acquisition programs are historically inaccurate. A 2015 study by the Air Force Cost Analysis Agency (Keaton 2015) sought to improve the accuracy of the cost estimate at completion for space system contracts through a linear relationship between budgeted cost for work performed and time. That study found schedule duration to be a cost driver, but assumed the underlying schedule duration estimate was accurate. This research expands upon the previous research through an improved duration estimation methodology. Next, we incorporate our duration methodology into various estimate at complete models to derive a more accurate estimate at complete for space acquisition programs. Our methods improve the accuracy by 6.5% over existing methods. The results offer an alternative approach to schedule duration estimates and earned value estimate at complete calculations that may be useful to cost analysts and program managers.
{"title":"Using Earned Value Data to Forecast the Duration of Department of Defense Space Acquisition Programs","authors":"Shedrick M Bridgeforth, J. Ritschel, E. White, Grant Keaton","doi":"10.1080/1941658X.2015.1062817","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1062817","url":null,"abstract":"Traditional earned value management techniques to predict final costs of space acquisition programs are historically inaccurate. A 2015 study by the Air Force Cost Analysis Agency (Keaton 2015) sought to improve the accuracy of the cost estimate at completion for space system contracts through a linear relationship between budgeted cost for work performed and time. That study found schedule duration to be a cost driver, but assumed the underlying schedule duration estimate was accurate. This research expands upon the previous research through an improved duration estimation methodology. Next, we incorporate our duration methodology into various estimate at complete models to derive a more accurate estimate at complete for space acquisition programs. Our methods improve the accuracy by 6.5% over existing methods. The results offer an alternative approach to schedule duration estimates and earned value estimate at complete calculations that may be useful to cost analysts and program managers.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131693656","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-05-04DOI: 10.1080/1941658X.2015.1068717
S. Tyagi, Xianming Cai, Kai Yang
Product development process follows a sequence of activities, methods, and tools to design and develop a high quality product. An optimized strategy for a single generation product development may not be the best choice when multi-generation scenarios are considered. In this article an attempt has been made to study the nature of multi-generational product development and compare it with that of single generation product development to drive validating arguments. Further, a qualitative analysis framework for multi-generational product development is developed to identify correct user requirements and to propose a reusability concept during the concept design stage. In order to capture the right customer requirements clearly in the product definition phase, axiomatic design with design failure mode and effects analysis approach is reviewed. For architecture development, the design for modularity and design for reusability have been discussed. This qualitative analysis framework is based on the related case studies summarized from the industrial projects during the past 2 years. The qualitative data is obtained through face-to-face interviews, site visits, observations, and documentation at several companies, which produce both types of product. With detailed design information up front, a better concept could be selected to meet the overall objective of an organization. Additionally, targeting product development from multi-generational product development aspects optimizes the overall resource planning, investment, and thus maximizing the profit.
{"title":"A Literature Survey and Future Directions for Product Development: A Focus on Conceptual Design Stage","authors":"S. Tyagi, Xianming Cai, Kai Yang","doi":"10.1080/1941658X.2015.1068717","DOIUrl":"https://doi.org/10.1080/1941658X.2015.1068717","url":null,"abstract":"Product development process follows a sequence of activities, methods, and tools to design and develop a high quality product. An optimized strategy for a single generation product development may not be the best choice when multi-generation scenarios are considered. In this article an attempt has been made to study the nature of multi-generational product development and compare it with that of single generation product development to drive validating arguments. Further, a qualitative analysis framework for multi-generational product development is developed to identify correct user requirements and to propose a reusability concept during the concept design stage. In order to capture the right customer requirements clearly in the product definition phase, axiomatic design with design failure mode and effects analysis approach is reviewed. For architecture development, the design for modularity and design for reusability have been discussed. This qualitative analysis framework is based on the related case studies summarized from the industrial projects during the past 2 years. The qualitative data is obtained through face-to-face interviews, site visits, observations, and documentation at several companies, which produce both types of product. With detailed design information up front, a better concept could be selected to meet the overall objective of an organization. Additionally, targeting product development from multi-generational product development aspects optimizes the overall resource planning, investment, and thus maximizing the profit.","PeriodicalId":390877,"journal":{"name":"Journal of Cost Analysis and Parametrics","volume":"2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128339043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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