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Book Cover
Author De Neufville, Richard, 1939-

Title Flexibility in engineering design / Richard de Neufville and Stefan Scholtes
Published Cambridge, Mass. : MIT Press, [2011]
Online access available from:
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Description 1 online resource (xvi, 293 pages) : illustrations
Series Engineering systems
Engineering systems.
Contents High-level overview -- Methods of analysis
Summary Project teams can improve results by recognizing that the future is inevitably uncertain and that by creating flexible designs they can adapt to eventualities. This approach enables them to take advantage of new opportunities and avoid harmful losses. Designers of complex, long-lasting projects--such as communication networks, power plants, or hospitals--must learn to abandon fixed specifications and narrow forecasts. They need to avoid the "flaw of averages," the conceptual pitfall that traps so many designs in underperformance. Failure to allow for changing circumstances risks leaving significant value untapped. This book is a guide for creating and implementing value-enhancing flexibility in design. It will be an essential resource for all participants in the development and operation of technological systems: designers, managers, financial analysts, investors, regulators, and academics. The book provides a high-level overview of why flexibility in design is needed to deliver significantly increased value. It describes in detail methods to identify, select, and implement useful flexibility. The book is unique in that it explicitly recognizes that future outcomes are uncertain. It thus presents forecasting, analysis, and evaluation tools especially suited to this reality. Appendixes provide expanded explanations of concepts and analytic tools
Bibliography Includes bibliographical references (pages 283-287) and index
Notes Print version record
Subject Engineering design.
Engineering economy.
Flexible manufacturing systems.
Manufacturing industries -- Risk management.
Modularity (Engineering)
Form Electronic book
Author Scholtes, Stefan.
LC no. 2011002055
ISBN 0262303566 (electronic bk.)
1613444117 (electronic bk.)
9780262303569 (electronic bk.)
9781613444115 (electronic bk.)