Abstract
This paper presents a value quantification model for multistage product development using lean principles. the proposed value model considers four main stages of product development (PD) including conceptual development, systems design, detailed design and prototyping. the model determines an optimal solution for each of the design variables to maximize the value at each of the PD stages. the value at each of the PD stages is formulated as a function of the six factors: (a) importance of customer requirements (b) cost of customer's ownership, (c) parts/service availability, (d) weighted average cost of capital, (e) information evolution and (f) risk reduction. Factors (a)-(d) have been adequately addressed in the literature. This study focuses on information evolution and risk reduction. These two factors are defined by a set of value attributes including performance, risk, schedule, cost, form, fit, function and timeliness. an example of Detonator Disposal (DD) robot family is used to explain the working of the proposed model. Copyright © 2009 by ASME.
Recommended Citation
S. Yadav and V. Allada, "Developing a Lean Value Model for Product Development," Proceedings of the ASME International Design Engineering Technical Conferences and Computers and Information in Engineering Conference 2009, DETC2009, vol. 2, no. PART A, pp. 481 - 488, American Society of Mechanical Engineers, Jun 2010.
The definitive version is available at https://doi.org/10.1115/DETC2009-86491
Department(s)
Engineering Management and Systems Engineering
Publication Status
Available Access
International Standard Book Number (ISBN)
978-079184899-9
Document Type
Article - Conference proceedings
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2024 American Society of Mechanical Engineers, All rights reserved.
Publication Date
25 Jun 2010
