"This research presents a value quantification model for multi-stage product development Process (PDP) using lean value principles. The PDP stages considered in this research include conceptual development, systems design, detailed design and prototyping stages. The value at any of the PDP stages is formulated as a function of 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) are adequately addressed in the literature. This study focuses on information evolution and risk reduction factors. These two factors are defined by a set of value attributes including performance, risk, schedule, cost, form, fit, function, and timeliness. The efficacy of the proposed value quantification model is demonstrated using a case example of a Detonator Disposal (DD) robot family. The proposed model determines an optimal solution for each of the design variables to maximize the overall value of the PDP"--Abstract, page iv.
Dagli, Cihan H., 1949-
Grantham Lough, Katie, 1979-
Engineering Management and Systems Engineering
M.S. in Engineering Management
Missouri University of Science and Technology. Intelligent Systems Center
National Science Foundation (U.S.)
Missouri University of Science and Technology
xii, 54 pages
© 2010 Salik Yadav, All rights reserved.
Thesis - Open Access
Information theory in economics
New products -- Development
Risk assessment -- Methodology
Value analysis (Cost control)
Print OCLC #
Electronic OCLC #
Link to Catalog Record
Yadav, Salik, "A value model for product development process using lean principles" (2010). Masters Theses. 4981.