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Option-Based Risk Management Method of Challenging Design Project

[+] Author Affiliations
Yutaka Nomaguchi, Takahiro Horinouchi, Chunzhi Dong, Kikuo Fujita

Osaka University, Suita, Osaka, Japan

Paper No. DETC2013-12846, pp. V004T05A024; 12 pages
  • ASME 2013 International Design Engineering Technical Conferences and Computers and Information in Engineering Conference
  • Volume 4: 18th Design for Manufacturing and the Life Cycle Conference; 2013 ASME/IEEE International Conference on Mechatronic and Embedded Systems and Applications
  • Portland, Oregon, USA, August 4–7, 2013
  • Conference Sponsors: Design Engineering Division, Computers and Information in Engineering Division
  • ISBN: 978-0-7918-5591-1
  • Copyright © 2013 by ASME


This paper proposes an adaptive method of planning design project to handle uncertainty with a task option model. The model considers a task option to perform a challenging design or change it to a conservative one which is a backup of it in order to accommodate various risks. A planning problem is formulated under the assumption that a design project and its process consist of multiple task options, each of which corresponds to a component of the product. A project manager decides the switches of the task by checking the design progress at the milestones. A growth curve model of design progress is adopted to predict the design progress for risk assessment. This research also demonstrates a planning example of a student formula car project and discusses the application of the proposed method.

Copyright © 2013 by ASME



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