Overview

The purpose of this research was to examine the potential for applying the concept of real options to the DoD acquisition system. The key premise of real options is the application of strategic decision making and flexibility in the face of future uncertainties. This thesis sought to answer three research questions, how could real options be applied to the acquisition system, how could the acquisition system benefit, and what are the potential challenges to implementation within the acquisition system. These research questions were addressed through a comprehensive literature and a case study of the Operationally Responsive Space (ORS) initiative. The ORS initiative is a transformational activity sponsored by the DoD to develop a strategy for deploying a flexible and responsive satellite system architecture for meeting the direct needs of the Combatant Commanders. Transcripts from interviews with six members of the ORS initiative, representing senior decision makers and project leads, were reviewed to gain insight into the goals and strategies of ORS. This research identified several consistent themes in the execution of the ORS initiative that present opportunities for the implementation of a real options framework in the defense acquisition system: the need for a new business strategy; the need for flexibility in our systems and processes to respond to future threats; and the need to exploit emerging capabilities and technologies. The culmination of this research is recommendations for further study of the real options, in particular how it might be codified for the use within the defense acquisition system. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

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