The profitability of platform investments depends on the ability to seize uncertain opportunities in launching follow-on products. Decision analytic models which capture these uncertainties help guide these investments.
Research question to be addressed
What kinds of changes are needed in the business models, strategic planning procedures, resilient business strategies, investment and risk management, operations management, innovation and added value distribution of the platform network?
To develop decision analytic approaches for guiding the development of platforms and the individual products enabled by them.
Description of tasks
Formulation of decision analytic models which capture salient decisions in the development of both platforms and products based on them.
Decision analytic models that:
1. help quantify the impacts of platform development,
2. guide investments into platform development,
3. provide decision support for the optimization product decisions.
Formulation and validation of decision analytic models for stage-gate decisions in platform development (Year 3); High-impact deployment of the decision analytic tools to a representative set of case studies (Year 6).