Real Options in Engineering Design, Operations, and Management: 1st Edition (e-Book) book cover

Real Options in Engineering Design, Operations, and Management

1st Edition

Edited by Harriet Black Nembhard, Mehmet Aktan

CRC Press

253 pages

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Hardback: 9781420071696
pub: 2009-10-27
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pub: 2009-10-27
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Description

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

Table of Contents

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.

About the Editors

Dr. Harriet Black Nembhard is associate professor of industrial engineering at Penn State University and Bashore Career Professor Director of QUEST (Quality Engineering and System Transitions Lab), established in 1998. Her research mission is to investigate the design and implementation of concepts and methods of quality, productivity, and system improvement for organizations during periods of change and transition. She examines ways to combine these methods with economic cost, risk, and capital measurements to advance the understanding of dynamic systems and improve decision making. Her current work focuses on the areas of nanomanufacturing, health-care and environmental sustainability. A certified Six Sigma Black Belt, she has served as a consultant for numerous corporations. She is a senior member of the American Society for Quality and of the Institute for Industrial Engineers. In 2003, she won the Armand V. Feigenbaum Medal award and the Lloyd S. Nelson award for her professional contributions. In 2006, she was elected to the International Academy for Quality.

Subject Categories

BISAC Subject Codes/Headings:
BUS101000
BUSINESS & ECONOMICS / Project Management
TEC016000
TECHNOLOGY & ENGINEERING / Industrial Design / General
TEC032000
TECHNOLOGY & ENGINEERING / Quality Control