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10.4.1 Measuring the Lifecycle Value of a System
Author(s) -
Browning Tyson R.,
Honour Eric C.
Publication year - 2005
Publication title -
incose international symposium
Language(s) - English
Resource type - Journals
ISSN - 2334-5837
DOI - 10.1002/j.2334-5837.2005.tb00769.x
Subject(s) - value (mathematics) , adaptability , systems engineering , stakeholder , product (mathematics) , process management , system of systems , key (lock) , computer science , new product development , system lifecycle , product lifecycle , engineering management , engineering , business , systems design , marketing , management , geometry , mathematics , computer security , machine learning , economics
The goal of systems development is to produce enduringly valuable systems—i.e., systems that are valuable when delivered to their users and which continue to be attractive to their stakeholders over time. However, quantifying the lifecycle value (LCV) provided by a system has proven elusive. We propose an approach to quantifying a system's LCV based on the key parameters that have perceived value to the system's stakeholders. For this, we draw upon insights from the management, marketing, product development, value engineering, and systems engineering literature. By designing systems for maximum LCV, systems architects and engineers will provide dramatically increased value to their organizations. However, to provide maximum LCV, a system may need to be designed to facilitate adaptability to changing circumstances and stakeholder preferences.