Seminar by Prof. Michel-Alexandre Cardin, National University of Singapore
Event details
| Date | 11.02.2016 |
| Hour | 15:00 › 16:30 |
| Speaker | Prof. Michel-Alexandre Cardin, National University of Singapore |
| Location | |
| Category | Conferences - Seminars |
"Generating flexibility in the design of engineering systems to enable better sustainability and lifecycle performance"
et
"Enabling Flexibility in Engineering Systems: A Taxonomy of Procedures and a Design Framework"
Abstract
Architecting, designing, and managing complex engineering systems like infrastructures are increasingly challenging tasks. Architects, designers and operators are required to design 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. Designing engineering systems for flexibility – also known as real option – is an emerging paradigm that aims to provide the system with the ability to adapt pro-actively to changing conditions, so as to extract additional economic value and performance from uncertainty. Inspired from the fields of finance and economics, this paradigm aims to improve standard engineering design and project evaluation by focusing on better management of the distribution of performance outcomes and risks through flexibility, considering 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 option on a stock.
The talk provides an overview of the latest research developments in this emerging field by introducing a framework to enable flexibility in engineering systems under uncertainty. The framework can also be used as taxonomy to classify the latest procedures developed to support this process as part of early conceptual architecture and design activities. Novel procedures are introduced covering topics such as creative concept generation techniques, design space exploration using optimization and statistical techniques, and process management using simulation games. Procedure evaluation is done through example studies in waste-to-energy and emergency medical services, two examples of urban infrastructure systems.
et
"Enabling Flexibility in Engineering Systems: A Taxonomy of Procedures and a Design Framework"
Abstract
Architecting, designing, and managing complex engineering systems like infrastructures are increasingly challenging tasks. Architects, designers and operators are required to design 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. Designing engineering systems for flexibility – also known as real option – is an emerging paradigm that aims to provide the system with the ability to adapt pro-actively to changing conditions, so as to extract additional economic value and performance from uncertainty. Inspired from the fields of finance and economics, this paradigm aims to improve standard engineering design and project evaluation by focusing on better management of the distribution of performance outcomes and risks through flexibility, considering 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 option on a stock.
The talk provides an overview of the latest research developments in this emerging field by introducing a framework to enable flexibility in engineering systems under uncertainty. The framework can also be used as taxonomy to classify the latest procedures developed to support this process as part of early conceptual architecture and design activities. Novel procedures are introduced covering topics such as creative concept generation techniques, design space exploration using optimization and statistical techniques, and process management using simulation games. Procedure evaluation is done through example studies in waste-to-energy and emergency medical services, two examples of urban infrastructure systems.
Practical information
- General public
- Free
Organizer
Contact
- cdm-seminars@epfl.ch