Completed Applications 

Last revised:  Spring, 2013

Each application presents several forms of options analyses applied to a common problem selected by each author.  Each represents an edited and corrected portfolio of exercises done over a semester as part of the MIT course on the the Use of Flexibility (or real options)  in Design  (ESD 71 --Engineering Systems Analysis for Design).

The emphasis in preparing these applications was on the use of methods to explore the value of flexibility in design.  While the students spent considerable time on their projects, and often brought extensive experience to their topics, the emphasis was on the use of methods, not on the substance.  Thus the results are suggestive and not definitive.


Topic  --  Author -- Year
Slide Show
Write Up
Investing in Human Capital -- Marie-Claude Nadeau -- 2007
Using Flexible Business Development Plans to Raise Value of High-Technology Start-up Companies -- Samir Mikati -- 2008
Slides
Write up



Real Estate
Real Estate, Condo Development -- Michel-Alexandre Cardin --  2005
Heating System for a Group of Condos -- Rory Clune -- 2008
Slides
Write up
Ft. Carson Colorado Solar Project Incorporating Flexibility into Design -- James Enos -- 2008
Slides
Write up
Flexibility for the Design of Residential Heat Pump System -- Kevin Ferrigno -- 2009
Slides
Evaluation of Flexibility for a Primary Residence -- Michael Pasqual -- 2009
Slides
Write up



Climate Change
Flexible Design for Global Climate Change Policy -- Nidhi Santen -- 2009
Slides
Write up



Fire Management


The Wildfire Risk Management System of Portugal: Using Decision Rules in a Simulation Model to Reduce Costs -- Ross Collins -- 2010
Slides
Write up



Transportation Issues

Municipal Vehicle Fleet Options -- Christopher Evans -- 2006
ADS-B Deployment at Newark  --  Antonio Abad -- 2005
An Assessment of Unmanned Aircraft Systems for Flight in the National Airspace -- Luke Cropsey -- 2007
GPS Automated Certification -- Dietrich Falkenthal -- 2006

Hybrid Vehicles -- Matt Kromer -- 2006
Intelligent Parking System -- Arthur Mak -- 2006

Valuation of Fuel Flexibility in a Vehicle Fleet -- Don MacKenzie -- 2007
Buenaventura Port Expansion -- Isabel Aguledo -- 2008
Slides
Write up
Construction of a New Transportation Corridor -- Andre Carrell -- 2008
Slides
Write up
Option Valuation for a National Retailer: Business Strategy for Transportation Fleet -- Bogdan Popescu -- 2008
Slides
Write up
Real Options Analysis: Runway Expansion at a New Airport in Lisbon -- Julia Nickel -- 2007
Slides
Write up
Analyze Technology Options in Electric Vehicle Infrastructure -- David Diaz -- 2009

Write up
Berthing Pain Prevention: Flexibility in the Design of a Marine Dock for Bulk Liquid Chemicals Loading -- Brian Ramos -- 2010
Slides
Write up
Flexible Analysis in Ocean Freight Transportation Systems -- Lita Das -- 2011
Slides
Write up






Communications

Second-Mile Internet Data Backhaul in Kenya -- Kevin Berkoben -- 2010
Slides
Write up



Health Care


Health Care Planning Decisions: A Simulation Approach -- Patrick Riechel -- 2010 Slides
Write up






Space

Space Station Assembly and Supply -- Brandon Owens -- 2006
Real Options for the Satellite Fleet of a Commercial Remote Sensing Company -- Danielle Wood -- 2007
Space Shuttle External Tanks -- Theresa Robinson -- 2005
Slides
Write up
Space Communication Architecture -- Jennifer Underwood -- 2005 
Slides
Write up
Micro Air Vehicle System -- Jennifer Wilds -- 2006

Space Transport External Tanks -- Robb Wirtlin -- 2006

Common Design of Common and Independent NASA Space Suit Designs -- Richard Rhodes -- 2008
Slides
Write up
An Engineering Systems Analysis of Crewed Lunar Exploration Habitation Alternatives -- Arthur Guest -- 2008

Write up
Flexibility for In-Space Propulsion Technology Investment -- Jonathan Alexander Battat -- 2010
Slides
Write up



Power

Potential of Nuclear Power for Portugal -- Paulina Ponce de Leon -- 2006 Slides Write up
Coal Power Plant Design -- Kathy Donnelly -- 2005 Slides Write up
Electricity Generation Choices: Portugal -- J P Connolly -- 2006
Write up
Prospects for a Wind Farm Installation in Wapakoneta, Ohio: An Initial Study on Economic Feasibility  -- Katherine Dykes -- 2007
Slides
Write up
Power Plant Development Options in Abu Dhabi -- Kyle Frazier -- 2007
Slides
Write up
The Value of Flexibility in New Power Plant Construction in Municipal Shanghai, P. R. China -- Valerie Karplus -- 2007
Slides
Write up
Reducing Cost of a Natural Gas Plant when a Federal Carbon Tas is likely: considerations for design and construction -- Paul Murphy -- 2008

Write up
East-Coast Offshore Wind Farm Development -- David Hwang -- 2009
Slides
Write up
Real Option Valuation of Investment in Solar Parabolic Trough Technology -- Arjun Gupta -- 2009
Slides
Write up
Diversification of Energy Power Plants in the North of Chile -- Matias Raby -- 2010
Slides
Write up
Community Level Solar Energy System -- Daniel Marticello -- 2010
Slides
Write up
Evaluating Flexibility: Grid Scale PV Plants in India -- 2011 -- Tanvir Madan
Slides
Write up
Flexibility Options in Wind Gearbox Rebuilding Business -- 2011-- Padmabhushana Desam
Slides







Logistics
Supply Chain -- Paul Jan -- 2005  Slides Write up
Distribution Centers in Peru -- Nestor Quispez-Asin -- 2006 Slides Write up
Simulating Tomorrow's Supply Chain: Conveying the Value of Flexibility in Supply Chain Design -- Randolph Bradley -- 2011
Slides
Write up



Product Design

Flexibility in the Product Design Process -- Alison Olechowski -- 2010
Slides
Write up
Flexibility in Large Commercial Aircraft Program Valuation -- James Morrison -- 2010
Slides
Write up
Flexibility in a Biotech Manufacturing Facility: an Options Analyis for Monoclonal Antibody Protection -- Nishanth Dev -- 2011
Slides
Write up






Manufacturing Issues

Drug Discovery Techniques -- Daniel Harjes -- 2005 Slides Write up
Metalforming Technologies -- Juan Martin -- 2006 Slides Write up
Electronic Waste Recycling -- Susan Fredholm -- 2007

Write up
Real Options in Composite Manufacturing Considering Demand Uncertainty and Staged Tool Investment -- R. Cirincione -- 2007

Write up
Design of a Replacement German Main Battle Tank in 1941 -- Andrew Rader -- 2007
Slides
Write up
Introducing Flexibility into an Aircraft Manufacturing Plant -- Anna Massie -- 2008
Slides
Write up
KC-X Tanker Replacement Progeram: Value of Flexibility -- Winchesley Vixama -- 2008
Slides
Write up
Flexibility in Automotive Assembly System -- Hadi Zaklouta -- 2009
Slides
Write up
Production Planning with Flexible Production -- Andres Garro -- 2010
Slides
Write up



Water Resources


Exploring Flexibility in Hydroelectric Projects: A case study in Ethiopia -- Jonathan Baker -- 2010
Slides
Write up
Value of Flexibility in Irrigation Projects -- Anjuli Jain Figueroa -- 2010
Slides
Write up
Flexible Decision-Making Frameworks for Long-Term Water Resources Planning -- Melanie Wong -- 2011
Slides
Write up
Irrigation in the Zambezi River Basin: Flexibility under Climate Uncertainty -- Arthur Gueneau -- 2011
Slides
Write up