The definition and application of a stepwise approach to model conceptualisation and analysis

Article Abstract:

Guidelines for model construction employing a stepwise approach are presented as an alternative to quantitative methods. The method equips analysts and system owners with a tool for creating simulation models for problem solving and management decision making. The stepwise approach combines the identification of information feedback loops and the modular approach by integrating aspects of quantitative system dynamics and simulation modeling. Application in a case study is included.

Methods, Management, Design and construction, Command and control systems

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The option value of advanced R&D

Article Abstract:

A stochastic jump amplitude model is employed in the field of multimedia at Philips Electronics, reducing the differences between real option theory and decision making in relation to investments in research and development (R and D). The option value of the proposed model relies on the predicted number and size of jumps in a particular business.

Research and Development in the Physical, Engineering, and Life Sciences, Commercial physical research, Research & Development-Industry, Analysis, Industrial research

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Market entry, phased rollout or abandonment? A real option approach

Article Abstract:

A model to value phased rollout is presented.

Research, New products, Product introduction

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