Title

A Framework For Project Selection Using Knowledge

Keywords

Knowledge value-added; Kolmogorov complexity; Matrix of change; Return on knowledge; System dynamics

Abstract

Presently, organizations' outputs are heavily dependent on intangibles such as knowledge and therefore use knowledge as a major asset. This business landscape shows the importance that intangible assets have in benefits and value because project selection cannot be appropriately managed without considering the role of knowledge. This research develops a framework to measure the value that processes add based on their knowledge. The framework starts by studying current systems and analyzing proposed changes with the Matrix of Change to propose a "to be" system. System dynamics is then used to model the desired system and obtain behavior measurements. At this phase the framework can use knowledge as a way to generate benefits following the concept of Kolmogorov complexity. The Kolmogorov complexity theory relates the amount of knowledge required to successfully execute change as a determinant of the change itself. Therefore criteria for project selection can be based on the amount of knowledge measured to generate change. Finally, the framework is applied to a case study in mobile weapon system using Unmanned Aerial Vehicles (UAV).

Publication Date

1-1-2013

Publication Title

IIE Annual Conference and Expo 2013

Number of Pages

874-883

Document Type

Article; Proceedings Paper

Personal Identifier

scopus

Socpus ID

84900343532 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/84900343532

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