Selecting military weapon systems development portfolios: challenges in value measurement

Greiner, Michael; McNutt, Ross T.; Shunk, Dan L.; Fowler, John W.

doi:10.1109/picmet.2001.952153

Cited by 2 publications

(2 citation statements)

References 9 publications

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“…For these government agencies, optimization solutions can utilize the large amounts of data from different sources to provide decision makers with alternative choices that optimally meet agency objectives. Greiner, McNutt, Shunk, and Fowler (2001) correctly stated that standard economic measures such as internal rate of return (IRR), net present value (NPV), and ROI are commonly used in evaluating commercial-based R&D projects to help identify optimal choices. However, such economic measures in their commercial form are of little use in evaluating weapon systems development efforts.…”

Section: Literature Review Portfolio Modeling In Military Applicationsmentioning

confidence: 99%

Risk-based ROI, capital budgeting, and portfolio optimization in the Department of Defense

Mun

2020

Defense ARJ

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This article shows a reusable, extensible, adaptable, and comprehensive advanced analytical modeling process to help the U.S. Department of Defense (DoD) with risk-based capital budgeting and optimizing of acquisition and program portfolios with multiple stakeholders while subject to budgetary, risk, schedule, and strategic constraints. The article covers traditional capital budgeting methodologies in industry and explains how these methods can be applied in the DoD by using DoD-centric, noneconomic, logistic, readiness, capabilities, and requirements variables. Portfolio optimization for the purposes of selecting the best combination of programs and capabilities is also addressed, as are alternative methods such as average ranking, risk metrics, lexicographic methods, PROMETHEE, ELECTRE, and others. Finally, an illustration from the Program Executive Office Integrated Warfare Systems (PEO-IWS) and Naval Sea Systems Command (NAVSEA) showcases the methodology’s application in developing a comprehensive and analytically robust case study that senior leadership at the DoD may utilize to make optimal decisions.

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Section: Literature Review Portfolio Modeling In Military Applicationsmentioning

confidence: 99%

Risk-based ROI, capital budgeting, and portfolio optimization in the Department of Defense

Mun

2020

Defense ARJ

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“…First, Greiner, et al found that traditional economic measures are insufficient to assist in the selection of a portfolio of projects for military weapon systems [28]. Next, few industries need to make as many decisions under extreme risk and uncertainty as the petroleum industry does when making exploration and development decisions.…”

Section: Technology and Project Selectionmentioning

confidence: 99%

Knowledge economy in the e-world

Kocaoglu

Anderson²

PICMET '01. Portland International Conference on Management of Engineering and Technology. Proceedings Vol.1: Book of Summaries

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With the transition to the third millennium, the world is undergoing a profound shift to a knowledge based economy. Success in navigating this transition will require skills in technology management for both companies and People-In this paper, we provide an introduction to these topics and how the papers in this volume relate to those topics.coming decades. The reason is simple: It is clear that those who can meet the challenges and manage them will survive; those who cannot do it will c e s e to exist. In short, Success and failure in the emerging knowledge-driven e-World will be measured by how effectively we will be able to manage technology in that world. What has to be done to meet the management challenges in the knowledge economy is summarized in the next five sections of this paper. The rest of

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Selecting military weapon systems development portfolios: challenges in value measurement

Cited by 2 publications

References 9 publications

Risk-based ROI, capital budgeting, and portfolio optimization in the Department of Defense

Risk-based ROI, capital budgeting, and portfolio optimization in the Department of Defense

Knowledge economy in the e-world

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