Title:
Development of a Strategic Business Decision-Making Environment for Commercial Jet Engine Selection
Development of a Strategic Business Decision-Making Environment for Commercial Jet Engine Selection
Author(s)
Mavris, Dimitri N.
Fernandez, Ismael
Briceño, Simón Ignacio
Fernandez, Ismael
Briceño, Simón Ignacio
Advisor(s)
Editor(s)
Collections
Supplementary to
Permanent Link
Abstract
In today?s business climate, aerospace companies
are more than ever in need of rational methods and
techniques that provide insights as to the best
strategies which may be pursued for increased
profitability and risk mitigation. However, the use of subjective, anecdotal decision-making remains
prevalent due to the absence of analytical methods
capable of capturing and forecasting future needs.
Negotiations between airframe and engine
manufacturers could benefit greatly from a
structured environment that facilitates efficient,
rational, decision-making. Creation of such an
environment can be developed through a parametric
physics-based, stochastic formulation that uses
meta-models to expedite the process. This paper
describes such an approach in order to demonstrate
the types of insights that might be gained as an
engine manufacturer tries to forecast the effects of
uncertainties and future vehicle requirements on
engine related characteristics for the design of a
hypothetical regional business jet. Game theory
concepts are suggested as a potential means by
which one can attach business payoffs to the
selection of any engine design point.
Sponsor
Date Issued
2003-01
Extent
372464 bytes
Resource Type
Text
Resource Subtype
Paper