Given that engineering flexibility can potentially provide a competitive advantage, the question then becomes: Precisely how valuable is this flexibility? However, traditional methods often fail to accurately capture the economic value of investments in an environment of widespread uncertainty and rapid change. The real options method represents th
Introduction. Real Options in Practice. Origins of Real Options in Engineering. Real Options in Manufacturing Operations. Real Options Valuation for Quality Improvement. Real Options in Outsourcing. Barriers to Real Options Adoption and Use in Architecture, Engineering, and Construction Project Management Practice. Identifying Real Options to Improve the Design of Engineering Systems. Real Options in Underground Mining Systems Planning and Design. Real Options in Engineering Systems Design. Real Options Model for Workforce Cross-Training. Real Options Design for Sustainable Product Quality Management. Real Options in Nanotechnology R&D. Real Options-Based Analysis in Pharmaceutical Partnerships for Research and Development. Hands-On Applications: Real Option Super Lattice Solver Software. Index.