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SUMMARY:Real Options and Flexibility in Engineering Design: An Emerging Pa
 radigm for Infrastructure Systems Research
DTSTART:20160210T141500
DTEND:20160210T151500
DTSTAMP:20260407T045523Z
UID:ee8c2b9b524c0351b7d7034ea602ed76feeea890a95dcd46e6f8879a
CATEGORIES:Conferences - Seminars
DESCRIPTION:Prof. Dr Michel-Alexandre Cardin\, Assistant Professor of Indu
 strial and Systems Engineering at National University of Singapore\nArchit
 ecting\, designing\, and managing infrastructure systems are increasingly 
 challenging tasks. Architects\, designers and operators are required to de
 sign and manage large-scale\, systems of high complexity that will perform
  well over long-time horizons\, inevitably facing uncertainty in changing 
 operating\, markets\, regulatory\, and technological environments. Designi
 ng infrastructure systems for flexibility – also known as real option 
 – is an emerging paradigm that aims to provide the system with the abili
 ty to adapt pro-actively to changing conditions\, so as to extract additio
 nal economic value and performance from uncertainty. Inspired from the fie
 lds of finance and economics\, this paradigm aims to improve standard engi
 neering design and project evaluation by focusing on better management of 
 the distribution of performance outcomes and risks through flexibility\, c
 onsidering architectures and designs that enable better protection against
  downside conditions – acting like an insurance policy – and providing
  contingencies to capitalize on upside opportunities – like a call optio
 n on a stock.\nThe talk provides an overview of the latest research develo
 pments in this emerging field by introducing a framework to enable flexibi
 lity in complex engineering systems under uncertainty. The framework can a
 lso be used as a taxonomy to classify the latest procedures developed to s
 upport this process as part of early conceptual architecture and design ac
 tivities. Novel procedures are introduced covering topics such as creative
  concept generation techniques\, design space exploration using optimizati
 on and statistical techniques\, and process management using simulation ga
 mes. Procedure evaluation is done through example studies in waste-to-ener
 gy and emergency medical services\, two examples of distributed urban infr
 astructure systems.\nBio: Dr. Michel-Alexandre Cardin is Assistant Profess
 or of Industrial and Systems Engineering at the National University of Sin
 gapore and Lead of the Strategic Engineering Laboratory. He has research a
 ffiliation at the Massachusetts Institute of Technology (MIT)\, Singapore-
 ETH Center\, and Singapore-MIT Alliance for Research and Technology. He is
  Associate Editor of the INCOSE journal Systems Engineering\, and served o
 n the Editorial Review Board of the journal IEEE Transactions on Engineeri
 ng Management. His research focuses on the development\, experimental eval
 uation\, and applications of novel procedures to design and architect comp
 lex systems for uncertainty and flexibility – also known as real options
  – in sectors including aerospace\, nuclear\, real estate\, offshore oil
  exploration\, and transportation. He earned a PhD in Engineering Systems 
 and MSc degree in Technology and Policy from MIT\, a Master’s in Aerospa
 ce Engineering from the University of Toronto\, a honors BSc in Physics fr
 om McGill University\, and is a graduate of the Space Science Program at t
 he International Space University.
LOCATION:GC G1 515 http://plan.epfl.ch/?lang=fr&room=GC+G1+515
STATUS:CONFIRMED
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