A module configuration and valuation model for operational flexibility in ship design using contract scenarios

Modular Ship Design

“…However, in the design of MASs, complexity may arise in valuating flexibility due to their dynamic nature in responding to contextual changes. Addressing this challenge, Choi and Erikstad (2017) and Choi et al (2017) present optimization models combining module configuration and valuation problems of MASs. Additionally, propose an optimization model for the design of the platform module of MASs, which serves as the basis accommodating various mission-related modules.…”

Optimal Ship Lifetime Fuel and Power System Selection Under Uncertainty

“…Flexible systems, for example retrofittable ships, are one potential response strategy to handle such uncertainty (De Neufville and Scholtes 2019, Rehn et al 2018, Parker and. Choi and Erikstad (2017) and Knight and Singer (2012) show how such flexible ships can be evaluated by means of real-options theory in across-scenario thinking.…”

On the adoption of innovation in the housing sector

“…Modularity is a relative concept and therefore product modularity should be measured along a continuum, from integral to fully modular product systems (Campagnolo and Camuffo, 2010;Mikkola, 2006). Modularity has been successfully introduced in various industries (Baldwin and Clark, 1997;Sanchez and Mahoney, 1996;Ulrich and Eppinger, 2012) of which personal computers (Langlois and Robertson, 1992) power tools (Utterback, 1996), kitchens (Franke et al, 2008), ships (Choi and Erikstad, 2017) and cars (Wilhelm, 1997) are very good examples. Fine et al (2005) emphasised the need to balance modularity in product, process and supply chain design in order to introduce a potentially successful modular product.…”