Value Based Decision Models of Management for Complex Systems

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dc.contributor.author Willey, K. en_US
dc.contributor.author Watt, D. J en_US
dc.contributor.editor M. Xie, T. S. Durrani, H. K. Tang en_US
dc.date.accessioned 2009-11-09T05:36:15Z
dc.date.available 2009-11-09T05:36:15Z
dc.date.issued 2004 en_US
dc.identifier 2006007565 en_US
dc.identifier.citation Watt, D. and Willey, K. 2004 'Value Based Decision Models of Management for Complex Systems', IEEE Engineering Management Conference, The Institute of Electrical and Electronic Engineers Inc (IEEE), Singapore, pp. 1278-1283. en_US
dc.identifier.issn 0-7803-8519-5 en_US
dc.identifier.other E1 en_US
dc.identifier.uri http://hdl.handle.net/10453/2712
dc.description.abstract Large Scale Complex Engineering Systems (LSCES), or Complex systems, and their development comprise many factors of influence, of which some are currently known, others not yet known, and some may never be fully understood. Given the very nature of, and operating difficulties in developing complex systems, often there are inconsistencies associated with providing an objective business case and in establishing a realistic (acquisition) program. The inconsistencies arise as a result of measurement difiiculties in determining overall value in the presence of both “hard” and “soft” factors. The traditional approach and continued practice of allocating subjective weightings to each factor of interest also contributes to the problem of inconsistency. This paper provides a structural framework that establishes a measure of value through the application of Discrete Choice Methods. The methods are widely used to identify the decision making behaviour of individuals and organizations. This is achieved through considering relevant qualitative and quantitative factors or attributes that as a whole provide a measure of utility, and therefore value. Whilst there has been considerable success in the use of these models within the marketing and transportation domains, there has been little application toward their use in evaluating and assessing Competitively Tendered Contracts (CTC) for the acquisition of Complex Systems. en_US
dc.publisher The Institute of Electrical and Electronic Engineers Inc (IEEE) en_US
dc.relation.isbasedon http://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=1408900&isnumber=30511 en_US
dc.title Value Based Decision Models of Management for Complex Systems en_US
dc.parent 2004 IEEE International Engineering Management Conference en_US
dc.journal.volume en_US
dc.journal.number en_US
dc.publocation Piscataway, USA en_US
dc.identifier.startpage 1278 en_US
dc.identifier.endpage 1283 en_US
dc.cauo.name Management, Policy and Practice en_US
dc.conference IEEE Engineering Management Conference en_US
dc.conference.location Singapore en_US


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