Create a value model for a low-earth orbital launch system. For orbital mechanics geeks, the goal is sun-synchronous circular orbit at 700 kilometer altitude. However, no knowledge of satellites or mechanics is necessary.

Your point of view is the owner and operator of a large family of satellites that you want to put into orbit over the next decade. The satellite vary in mass from 300 kilograms to 20,000 kilograms.

Choose some satellite application. Possibilities are weather observation or prediction, space telescopes, tracking ships on the ocean, internet relays, or spying. Or add your own.

Pick five attributes you would care about for the launch system that will put your satellites in orbit. If you think of more than five, just use the five you consider most important.

Make a model of your satellite business, in which the five attributes are inputs, and the output, which is value, reflects how well you are doing. You can hypothesize (invent) everything in the model that is about your satellite part of the operation -- the results will come from the combination of what you do and what the launch system does, but the important part of the model is how the launch system attributes affect your overall outcome.

1) a list of five attributes, including units

2) a set of equations (the model) that take the attributes and generate the output (value).

3) description of any assumptions you include in the model, including what you set the assumption to, and the units.