1. Explain the Design Criteria. (Feasibility, Acceptability and Vulnerability)Note: lesson for reference is in the photo attached 11:31cdn.fbsbx.comBroad Categories of Design CriteriaFeasibilityAcceptabilityVulnerabilityLTEThe feasibility of the design option-can we do it?-Do we have the skills (quality ofresources)?-Do we have the organizationalcapacity (quantity ofresources)?-Do we have the financialresources to cope with thisoption?-Does the option satisfy theperfoce criteria which the design istrying to achieve? (These will differ fordifferent designs.)DoneWill our customers want it?-Does the option give a satisfactoryfinancial return?The acceptabilityof the design option -do we want to do it 11:31cdn.fbsbx.comThe criteriafor screeningconceptsThe vulnerability of each designoption-do we want to take the risk?Feasibility-howdifficult is it?Acceptability-howworthwhile is it?Broad categories of evaluation criteriafor assessing conceptsVulnerability-whatcould go wrong?we tinderstand the fullconsequences of adopting theoption?Beint desSsTimstcould go wrong it we adopt theOption? What would be theconsequences ofeverythinggwrong? (This is called thedownside risk' of an option.)Design Funneldepicting the progressivereduction of design optionsfrom many to oneThis means that theuncertainty surrounding thedesign reduces as the numberof alternative designs beingconsidered decreases.What INVESTMENT,both managerialand financialwill be needed?What RETURN,in terms of benefitsLTEto the operationwill it give?What RISKS,do we runif thingsgo wrong?DoneConBOveralevaluationof theconceptLarge number ofdesign optionsUhartyCertyregarding121314

When making a product or project certain factors need to be evaluated before and on the basis of…

Answered: 1. Explain the Design Criteria.…

1. Explain the Design Criteria. (Feasibility, Acceptability and Vulnerability) Note: lesson for reference is in the photo attached

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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