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This book provides a synthesis of the theory of decision making and its practical application in decision analysis. Part 1 provides a detailed guide to the principles of decision theory. The authors introduce the literature on key ideas such as value theory, subjective probability theory and utility theory, and assess how these ideas, developed for individual decision makers, may apply to decision-making within organisations. Part 2 deals with the various strategies and techniques employed in decision analysis, and the application of decision theory in particular, documented cases. The authors also appraise the validity and usefulness of these procedures of decision synthesis. The book will be of interest to students and teachers of the theory and practice of decision analysis, and to psychologists, economists and operations researchers in universities and business schools; it will also be invaluable as a handbook to these and to professional managers in business and government, and to management consultants.
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The Engineering Design of Systems Comprehensive resource covering methods to design, verify, and validate systems with a model-based approach, addressing engineering of current software-centric systems The newly revised and updated Fourth Edition of The Engineering Design of Systems includes content addressing model-based systems engineering, digital engineering, digital threads, AI, SysML 1.0 and 2.0, digital twins, and GENESYS software. The authors explore system and software-centric architecture, allocations, and logical and physical architecture development, including revised terminologies for a variety of subsections throughout. Composed of 15 chapters, this book includes important new sections on modeling approaches for middle-out engineering, reverse engineering, and agile systems engineering, with a separate section on emerging trends within systems engineering to explore the most update-to-date methods. The authors include comprehensive diagrams and a separate chapter on a complete exercise of the System Engineering process, ranging from the operational concept to integration and qualification. To aid in reader comprehension and retention of concepts, the text is embedded with problems at the end of each chapter, along with relevant case studies. Sample topics covered in The Engineering Design of Systems include: Structural system models to executable models, verification and validation on systems of systems, and external systems and context modelingDigital engineering, digital threads, artificial/augmented intelligence (AI), stakeholder requirements, and scientific foundations for systems engineeringQuantifying a context and external systems’ model, including intended and unintended inputs, both deterministic and non-deterministicFunctional architecture development, logical and physical architecture development, allocated architecture development, interface design, and decision analysis for design tradesThe Engineering Design of Systems is highly suitable as a main text for undergraduate and graduate students studying courses in system engineering design, systems architecture, and systems integration. The text is also valuable as a reference for practicing system architects, systems engineers, industrial engineers, engineering management professionals, and systems integrators.