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Chapter
Efficiency, Effectiveness, Ongoing Costs and Upgrades/Replacement
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Efficiency, Effectiveness, Ongoing Costs and Upgrades/Replacement book
Efficiency, Effectiveness, Ongoing Costs and Upgrades/Replacement
DOI link for Efficiency, Effectiveness, Ongoing Costs and Upgrades/Replacement
Efficiency, Effectiveness, Ongoing Costs and Upgrades/Replacement book
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ABSTRACT
Continuing along the Technology Management path are the concepts of ongoing analysis for efficiency, effectiveness and the reduction of ongoing costs. This is an ongoing process, just like a process loop, which involves daily, weekly, monthly and annual review to identify areas of improvement. Again, this path is unique to Technology Management and has no equivalent in Systems Engineering.
Optimization takes many forms with the most popular being Enterprise, Stochastic, Deterministic and Probabilistic approaches. The Team must determine which form, or combination of forms is best for their enterprise. Once the approach is defined, it needs to be defined what is efficient and what is effective within an enterprise needs to be clearly outlined. From these analyses being performed, areas of improvement can be determined and improvements requested following the disciplined approach.
Of particular note is the End-of-Life concept, where no investment will improve or otherwise optimize the operation. Knowing when to not invest in the existing enterprise, and replace the enterprise is always a high-priced item. The analysis is tedious but yields excellent decision points. Knowing how and when to invest, and when to replace is crucial for best uses of scarce resources.