Systems engineering rigor has been used successfully in the aerospace and defense industries where the development cycles tend to be rather long. However, the practice of using a traditional waterfall, spiral or V-model systems engineering life cycle framework, in other industries brings into...
Healthcare costs are at an all-time high and there is no sign of ever relinquishing its upward trend or being controlled at the current level. The high cost of healthcare is partly attributed to the high cost of medicine. Research and development (R&D;) costs have been identified as a contributor...
In an effort to control cost and schedule growth, the US Department of Defense mandates that defense acquisition programs perform Technology Readiness Acquisitions (TRAs) during the acquisition cycle. Technology maturity is widely believed to correlate with cost and schedule risk in complex...
The Chicago Board Options Exchange Volatility Index (VIX) is widely used to gauge investor fear and measures the “insurance premiums” of the stock market. Traditionally, VIX prediction was done using time-series analysis models (e.g., GARCH), and some attempt was made to predict it using...
The U.S. Department of Defense (DoD) Major Defense Acquisition Programs (MDAPs) continue to provide engineering managers challenges in meeting cost, schedule and performance targets. To better identify acquisition programs that are at risk of failure, numerous studies have called for an expanded...
Engineering managers involved in product development and manufacturing are responsible for proposing and developing ideas and concepts that will benefit new or existing products and processes. Improved methods are required to identify, prioritize, and integrate the opinions, ideas, and concepts...