Using Future Value Analysis to Select an Optimal Portfolio of Force Protection Initiatives
AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH SCHOOL OF ENGINEERING AND MANAGEMENT
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With the recent increase in terrorist activity, force protection has become a key issue for the Department of Defense, Leading the research for new ideas and concepts in force protection for the US Air Force is the Air Force Force Protection Battlelab FPB. The FPB is charged with searching out force protection ideas and selecting those most worthy for future consideration. In 2002, a Value-Focused Thinking VFT hierarchy was created to help the FPB select those ideas that provided the most value to the Air Force and its force protection goals. This research effort uses the Future Value Analysis FVA approach, a decision-making methodology, to provide a more accurate project selection tool to the FPB. FVA incorporates the ideals of multi-attribute utility theory, specifically using the VFT process, as well as linear programming optimization techniques, to provide an optimal portfolio of initiatives for the FPB to pursue. FVA provides a solution that optimizes the value of initiatives selected, while remaining within the organizational constraints of the FPB. This research provides a proof of implementation for the FVA process in the force protection environment.
- Statistics and Probability
- Operations Research