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dc.contributor.authorRoss, Adam Michael
dc.contributor.authorO'Neill, Michael Gregory
dc.contributor.authorHastings, Daniel E.
dc.contributor.authorRhodes, Donna H.
dc.date.accessioned2013-11-04T18:11:27Z
dc.date.available2013-11-04T18:11:27Z
dc.date.issued2010-08
dc.identifier.isbn978-1-60086-966-2
dc.identifier.urihttp://hdl.handle.net/1721.1/81981
dc.description.abstractRecent years have seen a push to use explicit consideration of “value” in order to drive design. This paper conveys the need to explicitly align perspectives on “value” with the method used to quantify “value.” Various concepts of value are introduced in the context of its evolution within economics in order to propose a holistic definition of value. Operationalization of value is discussed, including possible assumption violations in the aerospace domain. A series of prominent Value-Centric Design Methodologies for valuation are introduced, including Net Present Value, Multi-Attribute Utility Theory, and Cost-Benefit Analysis. These methods are compared in terms of the assumptions they make with regard to operationalizing value. It is shown that no method is fully complete in capturing the definition of value, but selecting the most appropriate one involves matching the particular system application being valued with acceptable assumptions for valuation. Two case studies, a telecommunications mission and a deep-space observation mission, are used to illustrate application of the three prior mentioned valuation methods. The results of the studies show that depending on method used for valuation, very different conclusions and insights will be derived, therefore an explicit consideration of the appropriate definition of value is necessary in order to align a chosen method with desired valuation insights.en_US
dc.description.sponsorshipMassachusetts Institute of Technology. Systems Engineering Advancement Research Initiativeen_US
dc.language.isoen_US
dc.publisherAmerican Institute of Aeronautics and Astronauticsen_US
dc.relation.isversionofhttp://dx.doi.org/10.2514/6.2010-8797en_US
dc.rightsCreative Commons Attribution-Noncommercial-Share Alike 3.0en_US
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/en_US
dc.sourceMIT web domainen_US
dc.titleAligning Perspectives and Methods for Value-Driven Designen_US
dc.typeArticleen_US
dc.identifier.citationRoss, Adam, M. Gregory O Neill, Daniel Hastings, and Donna Rhodes. “Aligning Perspectives and Methods for Value-Driven Design.” In AIAA SPACE 2010 Conference & Exposition. American Institute of Aeronautics and Astronautics, 2010.en_US
dc.contributor.departmentMassachusetts Institute of Technology. Department of Aeronautics and Astronauticsen_US
dc.contributor.departmentMassachusetts Institute of Technology. Engineering Systems Divisionen_US
dc.contributor.departmentMIT Sociotechnical Systems Research Centeren_US
dc.contributor.mitauthorRoss, Adam Michaelen_US
dc.contributor.mitauthorO'Neill, Michael Gregoryen_US
dc.contributor.mitauthorHastings, Daniel E.en_US
dc.contributor.mitauthorRhodes, Donna H.en_US
dc.relation.journalProceedings of the AIAA SPACE 2010 Conference & Expositionen_US
dc.eprint.versionAuthor's final manuscripten_US
dc.type.urihttp://purl.org/eprint/type/ConferencePaperen_US
eprint.statushttp://purl.org/eprint/status/NonPeerRevieweden_US
dspace.orderedauthorsRoss, Adam; O'Neill, M. Gregory; Hastings, Daniel; Rhodes, Donnaen_US
dc.identifier.orcidhttps://orcid.org/0000-0003-4421-5110
mit.licenseOPEN_ACCESS_POLICYen_US
mit.metadata.statusComplete


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