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Engineering management - Essay Example

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Progress and development are important goals and aspirations of a company. These critical elements, which determine a company's success and market strength, are key aspects during the course of formulation of all kinds of tactics and strategies. Before making any strategies or a general plan, one has to take a lot of factors and situations into consideration before moving ahead with any kind of implementation…
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Engineering management
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Download file to see previous pages Therefore, it can be said that the company or the management of the company in particular would have to take all these aspects into consideration and ascertain whether all the constraints associated with these factors are suitable or not. The product can only be introduced if and only if a majority of these factors are found or are projected to be favorable to the interests of the company. Therefore, a company needs to two things in this regard. The first and the foremost requirement is to conduct a fair assessment of the various constraints and make a forecast. Secondly, the company also needs to come up with an action plan in order to be able to handle any situation such as things not going along as expected or detecting some errors in the forecast etc (Blanchard & Fabrycky, 2004). therefore, all these factors need to be considered before the introduction of the product into the market. Therefore, this is the key consideration that the current paper would attempt to discuss in depth in line with the concepts of System engineering. The paper would accurately determine the resources that would be required for each phase of the project in addition to determining the implications if any of the calculations went wrong.
These p
Systems engineering & Analysis
The introduction of a new product into the market may be regarded as a project. Generally, such a development would usually comprise the following stages (Blanchard, 2001):
Analyze the current products in the market.
Drive internal R&D (Research & Development).
Design new Product.
Ensure that the new product's attributes are competitive enough to survive the market pressures and be able to offer healthy competition to existing and established products.
Be able to make the necessary adjustments in all possible respects in order to achieve the above-mentioned objective.
These phases are not sequential in order and may vary in their sequence of occurrence. In many cases, these steps have been found to be iterative in nature. The focus of the company that intends to develop and market a new product would be to use the resources to the least possible extent and to be able to use them in an efficient manner. This can be achieved through the concept of system analysis. Under this, the entire development is considered to be a complex system. Thus, system analysis would concentrate on studying every part of the system as well as the relationships between these parts in detail. It must be mentioned that it does not matter whether the system under consideration is an abstract system or a physical system, the former being the one in the present case. Most operations that are conducted under systems analysis are based on the use of certain mathematical models for generating the appropriate results. These mathematical equations are used for describing the behavior of the system's individual components as well as the effects caused as a result of the interaction of these individual components. The estimation of the various resources along with their quantities can be classified into two main categories, which are discussed in detail:
Operations Research.
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