Premium
6.6.1 RACE for Faster, Better, Value
Author(s) -
M'Pherson Philip K.,
Pike Stephen
Publication year - 2001
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.2001.tb02394.x
Subject(s) - key (lock) , computer science , architecture , task (project management) , value (mathematics) , race (biology) , reliability engineering , risk analysis (engineering) , systems engineering , industrial engineering , engineering , machine learning , computer security , medicine , art , botany , visual arts , biology
The Rapid Assessment of Cost Effectiveness, ie RACE, is a key tool for the early concept and synthesis stages of systems engineering projects, during which the best candidate system has to selected for delivery from a ‘faster, better, cheaper’ project. The selected system should then offer the best value for money throughout an often long operational life. The paper outlines an integrated methodology for through‐life cost‐effectiveness analysis. Its structure is conventional, but it incorporates some novel features that provide (1) a powerful and fast ‘system builder’ to synthesise system candidates within mythical future operations, (2) tests to show that user, system and architecture requirements are matched, (3) a measuring multidimensional value criterion to serve for effectiveness, (4) whole‐life cost‐effectiveness analysis conducted in a true value for money sense. RACE has been tested on a real task, and specimen (but disguised) results are presented.