1st Edition

Real Options in Engineering Design, Operations, and Management

Edited By Harriet Black Nembhard, Mehmet Aktan Copyright 2010
256 Pages 107 B/W Illustrations
by CRC Press

253 Pages
by CRC Press

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 the new state-of-the-art technique for valuation... Read more

Introduction, H. Black Nembhard and M. Aktan

Real Options in Practice, J. Mun, Ph.D.

Origins of Real Options in Engineering, H. Black Nembhard and M. Aktan

Real Options in Manufacturing Operations, H. Black Nembhard, M. Aktan, and L. Shi

Real Options Valuation for Quality Improvement, H. Black Nembhard and M. Aktan

Real Options in Outsourcing, M. Aktan, H. Black Nembhard, and L. Shi

Barriers to Real Options Adoption and Use in Architecture, Engineering, and Construction Project Management Practice, D.N. Ford and M.J. Garvin

Identifying Real Options to Improve the Design of Engineering Systems, R. de Neufville, O. de Weck, J. Lin, and S. Scholtes

Real Options in Underground Mining Systems Planning and Design, V. Kazakidis and Z. Mayer

Real Options in Engineering Systems Design, K. Kalligeros

Real Options Model for Workforce Cross-Training, D.A. Nembhard, H. Black Nembhard, and R. Qin

Real Options Design for Sustainable Product Quality Management, J. Ann Stuart Williams, M. Aktan, and H. Black Nembhard

Real Options in Nanotechnology R&D, A. Ayanso and H. Herath

Real Options-Based Analysis in Pharmaceutical Partnerships for Research and Development, M. Kim

Hands-On Applications: Real Option Super Lattice Solver Software, J. Mun

Index

Biography

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.