Engineering systems design must have the flexibility to take advantage of new …
Engineering systems design must have the flexibility to take advantage of new opportunities while avoiding disasters. This subject develops “real options” analysis to create design flexibility and measure its value so that it can be incorporated into system optimization. It builds on essential concepts of system models, decision analysis, and financial concepts. Emphasis is placed on calculating value of real options with special attention given to efficient analysis and practical applications. The material is organized and presented to deal with the contextual reality of technological systems, that substantially distinguishes the analysis of real options in engineering systems from that of financial options. Note This MIT OpenCourseWare site is based on the materials from Professor de Neufville’s ESD.71 Web site. Additional materials, updated as needed by Professor de Neufville, can be found there.
This was a collaborative effort between Kimberly Whittaker, Eileen Duggan and Rebeca …
This was a collaborative effort between Kimberly Whittaker, Eileen Duggan and Rebeca Pietrzak. Student design a student classroom workstation to meet 21st century learning needs.
The engineer of the year 2020 and beyond will require an increasingly …
The engineer of the year 2020 and beyond will require an increasingly broad set of technical and business skills. Today's technical environment already spans from product development to design to planning for manufacture to manufacture to qualification to marketing and to maintenance of a product. In the future, engineers will also address business requirements to include: marketing, capital equipment justification and procurement, pricing and capitalization. In general, engineers of the future will provide many of the business and technical integration requirements linking engineering and business. Our focus and presentation of the technologies of engineering will strongly be skewed toward how these activities fit into the manufacturing of a product but also with emphasis of design and planning for manufacturing. Integration (both functional where design is linked to manufacturing and informational where data is available to everybody) is key to future engineering success. Our presentation of materials in this repository will be directed toward this vision.
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