2021
DOI: 10.1109/jsyst.2020.3000361
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Measurement of Resilience and the Time Value of Resilience

Abstract: In prior work a measure of resilience for use in systems design and management was presented. The measure has the form of a time integral of the system performance level. This form generates the research question: is time value of resilience a meaningful concept; like the time value of money in engineering economics. This paper presents four scenarios to explore the relationship of time and the value of resilience of a product or system. The scenarios are: perishable commodity packaging, the value of resilienc… Show more

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Cited by 6 publications
(3 citation statements)
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“…Equation ( 1) is a generalized formulation for FOM proposed by Ferris [129]. Table 5 includes the equation, which was found in a second publication by Ferris [130], as well as the mathematical approaches used to tackle system resilience.…”
Section: Mathematical Interpretations and Applicationsmentioning
confidence: 99%
See 1 more Smart Citation
“…Equation ( 1) is a generalized formulation for FOM proposed by Ferris [129]. Table 5 includes the equation, which was found in a second publication by Ferris [130], as well as the mathematical approaches used to tackle system resilience.…”
Section: Mathematical Interpretations and Applicationsmentioning
confidence: 99%
“…This benefit is not exclusive to one sector of the industry or to a particular field. FOM is conveniently fitting to any system in any greenfield (i.e., building new systems in a new climate) or brownfield (i.e., modifying existent systems) development project [130]. It must be clarified that FOMs, in turn, can convert into measures of resilience when they signal the value outputted by the system, or v ij , where i tallies performance attributes up to n in the trade-space analysis, and j truncates the system's lifecycle into m equal timeslots at t = 0.…”
Section: Mathematical Interpretations and Applicationsmentioning
confidence: 99%
“…Further, there have been arguments made to use resilience in analysis of alternatives for military systems [44] and from a mission engineering perspective [45]. Our proposed measure is similar to the value-oriented measure described by Ferris [46,47], except we provide a means to define value as mission impact, whereas Ferris presented a general framework.…”
Section: Background and Literature Reviewmentioning
confidence: 99%