Determining Value in Concept Generation

Understanding Value in Systems Engineering

In the concept generation phase of systems engineering, determining the value of a system involves assessing how well it meets the defined needs and requirements while considering various factors such as cost$,$ performance, and risks. Value is often a subjective measure, influenced by the perspectives of different stakeholders and the specific context of the system.

Key Factors to Consider:

Stakeholder Needs and Requirements:

Identify stakeholders: Determine who will be affected by or benefit from the system. Gather requirements: Collect and analyze the needs, wants, and expectations of stakeholders. Prioritize requirements: Rank requirements based on their importance and urgency.

Technical Feasibility:

Evaluate technology: Assess the availability and maturity of necessary technologies. Consider constraints: Identify any technical limitations or constraints that could impact the system's feasibility.

Economic Viability:

Estimate costs: Calculate the potential costs associated with development, operation, and maintenance. Assess revenue: Determine potential sources of revenue or cost savings. Calculate ROI: Evaluate the return on investment $($ROI$)$ of the system.

Risk Assessment:

Identify risks: Identify potential risks that could impact the system's success. Assess likelihood and impact: Evaluate the likelihood and potential impact of each risk. Develop mitigation strategies: Plan how to address or mitigate identified risks.

Performance Metrics:

Define metrics: Establish measurable criteria to evaluate the system's performance. Benchmark against competitors: Compare the system's performance to similar systems or industry standards.

User Experience:

Conduct usability testing: Evaluate how easy it is for users to interact with the system. Gather feedback: Collect feedback from potential users to identify areas for improvement.

Methods for Determining Value:

Value Proposition Canvas: A framework for capturing the value a product or service offers to customers.

Decision Matrix: A tool for comparing and evaluating alternative concepts based on multiple criteria.

Cost$-$Benefit Analysis: A quantitative method for comparing the benefits and costs of a project.

Quality Function Deployment $($QFD$)$: A structured approach for translating customer requirements into engineering characteristics.

Analytic Hierarchy Process $($AHP$)$: A decision$-$making technique for assigning weights to different criteria and alternatives.