Dynamic Multipoint Optimization Application to Corporate Portfolio Management
STEVENS INST OF TECH HOBOKEN NJ SCHOOL OF SYSTEMS AND ENTERPRISES
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There are many challenges facing complex system development in todays environments. Systems have become far more complex, operating in a net-centric environment with ever-increasing threats to system security posing a challenging design and development task for program managers and systems engineers. We have seen an increasing number of major DoD system development programs experiencing difficulties and failing to achieve their intended goals successfully. Reasons for these difficulties and failures include both technical and programmatic type issues. At the top of the list has been the failure to properly assess the technical maturity of complex systems during system development, leading to cost overruns program delays, program cancellations, and unacceptable system performance. Recently introduced corporate or program portfolio management ideologies supporting system development in the DoD have shown some promise in providing a more dynamic approach to project management. Advantages include the ability to make dynamic changes to the mixture of technology investments in a development program and increased probability of attaining the desired end-state goals at planned cost and on schedule. The programs need to consider external technology shifts and ensure the programs and their technology investments stay ahead of the critical S-Curve. The dynamics of program management, including effective decision-making, also play an important role in ensuring end-goal success. Missing from corporate portfolio management are good maturity metrics to assess the system development process throughout the lifecycle. This paper addresses the application of system maturity metrics and decision theory ideologies to a portfolio management framework supporting multitechnology- based system development.
- Administration and Management