| Article ID: | iaor20071953 |
| Country: | United States |
| Volume: | 9 |
| Issue: | 1 |
| Start Page Number: | 5 |
| End Page Number: | 18 |
| Publication Date: | Mar 2004 |
| Journal: | Military Operations Research |
| Authors: | Burk Roger C., Parnell Gregory S., Westphal Deborah, Schulman Aaron, Kwan Lauren, Blackhurst Jack L., Verret Phillip M., Karasopoulos Harry A. |
| Keywords: | military & defence, allocation: resources |
The Air Force Research Laboratory (AFRL) develops space technologies to provide future warfighting capabilities of the U.S. Air Force. In 2001, AFRL asked Toffler Associates to help develop and implement a Space Technology Value Model to identify future warfighting capabilities and help develop the best space R&D portfolio to provide these capabilities. We describe the model development process, and illustrate how the value model was used to improve resource allocation decision-making. This methodology has been used for two POM cycles. We used Value-Focused Thinking and some new techniques for analyzing R&D portfolios, including an explicit model of risk and a nonlinear aggregation of project value into portfolio value.