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Engineering Systems Analysis for Design

Engineering systems design must have the flexibility to take advantage of new opportunities while avoiding disasters. This subject develops "real options" analysis to create design flexibility and measure its value so that it can be incorporated into system optimization. It builds on essential concepts of system models, decision analysis, and financial concepts. Emphasis is placed on calculating value of real options with special attention given to efficient analysis and practical application...

Start Date: Sep 01, 2008 Topics: Design, Engineering Systems, General Engineering
Cost: Free

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Description

Engineering systems design must have the flexibility to take advantage of new opportunities while avoiding disasters. This subject develops "real options" analysis to create design flexibility and measure its value so that it can be incorporated into system optimization. It builds on essential concepts of system models, decision analysis, and financial concepts. Emphasis is placed on calculating value of real options with special attention given to efficient analysis and practical applications. The material is organized and presented to deal with the contextual reality of technological systems, that substantially distinguishes the analysis of real options in engineering systems from that of financial options.This MIT OpenCourseWare site is based on the materials from Professor de Neufville's ESD.71 Web site. Additional materials, updated as needed by Professor de Neufville, can be found there.

Details

  • Dates: Sep 01, 2008 to Dec 20, 2008
  • Days of the Week: Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, Sunday
  • Level of Difficulty: Beginner
  • Size: Massive Open Online Course
  • Instructor: Prof. Richard de Neufville
  • Cost: Free
  • Institution: MIT OCW
  • Topics: Design, Engineering Systems, General Engineering

Provider Overview

About MIT OCW: MIT OpenCourseWare (OCW) is a web-based publication of virtually all MIT course content. OCW is open and available to the world and is a permanent MIT activity.

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