Author Archives: lottacollard

From Model-Based Engineering to Model-Based Systems Enterprise

WHAT IS MODELING ABOUT? George E.P. Box, said: “Essentially, all models are wrong, some models are useful.” Modeling, in the broadest sense, is the cost-effective use of something in place of something else for some cognitive purpose. It allows us to use something that is simpler, safer or cheaper than “reality.” A model represents reality […]

A Summary of “Going Digital: Implications for Firm Value and Performance” by Chen, W. & Srinivasan, S. (2019)

This academic article represents a large empirical study investigating the implication of implementing digital technologies on firm-level performance and the perceived market value. In essence, the findings suggest that the market values investment in digital transformation as disclosed in the management text of the 10k, but the non-financial value of digitalization is poorly reflected in […]

You Can’t Always Tell by Looking

Our Green Belt course includes an exercise where students create a histogram from a file of 100 data values.  Here is the histogram of the data, with a normal probability distribution curve superimposed: Students are not asked to comment on the result, but most are unable to resist doing so.  The majority who do comment […]

Is there a better way to manage product development projects?

The last three decades have seen an explosion in project management software tools and certifications for project management methodologies. Terms like agile, resource management, critical path analysis, risk mitigation, etc. are now commonplace throughout the corporate world. However, has all of this attention to the project management discipline resulted in product development executing as planned? […]