AbstractSystem engineering, as a function, is responsible for oversight of risk and opportunity management of a project. Design engineering is likewise responsible for risk and opportunity management at the Configuration Item level and below. Any complete process model, designed to illustrate engineering responsibilities, must emphasize the risk and opportunity aspects of system engineering management, and must illustrate these important activities in the context of the overall system engineering process. The model presented in this paper meets these objectives.The evolving baseline for the technical aspects of the project cycle can be illustrated during decomposition and definition process in a set of descending steps, and during the integration and verification process in a set of ascending steps. This representation creates a “Vee,” with the evolving baseline represented by the legs, or core, of the “Vee.” Risk and opportunity management activities, which are essential to the process, are shown as supporting activities off the core of the “Vee.”Use of a “Vee” model was introduced in our paper presented at the first NCOSE symposium in Chattanooga in October 1991. The “Vee” model illustrates the end‐to‐end involvement of system engineering in the development process, emphasizes the use of risk reduction and opportunity enhancement techniques, and encourages the implementation of concurrent engineering (including integrated product teams).During the past three years we have gained valuable experience in using this model as the heart of our System Engineering and Project Management training and consulting with major government and commercial clients. As a result of this highly illustrative model we have experienced considerable success in conveying the intricacies of the system engineering process to system engineers, project and program managers, and executives.As noted in our 1991 paper, others have considered a “Vee” project model in the past, but they only considered the core of the “Vee.” The enthusiastic acceptance of our model by many professionals is based on the power of the model in providing visualization of the complete development process. Key features of the model are: 1) Only the activities on the core of the “Vee” are part of the evolving baseline managed under configuration control, 2) project risk and opportunity management activities are off‐core activities external to the current baseline, and 3) time and baseline maturity move to the right, which helps illustrate the impact to the approved baseline caused by users with changing requirements.Enhanced graphics and lessons‐learned examples have been included to provide full understanding of how these concepts are used to drive toward optimum solutions based on value, risk, and opportunity.
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