Objectives: Develop value-based principles and techniques to address emerging software engineering challenge areas: especially the high dependable systems, software architecting.

Approach: Identify seven key elements as the foundations of Value-Based Software Engineering (VBSE):

• Benefits Realization Analysis
• Stakeholder Value Proposition Elicitation and Reconciliation
• Business Case Analysis
• Continuous Risk and Opportunity Management
• Concurrent System and Software Engineering
• Value-based Monitoring and Control
• Change as Opportunity

Identify useful techniques from economics, finance, decision theory and other disciplines and adapt them to use in software design and development. Seek to inform technical decision making with sound models of linkages between technical parameters and value-based outcomes.

Results:

1. L. Huang, "Strategic Design Issues Encountered with the SAIV Process Model: A Case Study," 3rd International Workshop on Economics-Driven Software Engineering Research (EDSER), May 2001, pp. 41-44.
2. B. Boehm, D. Port, L. Huang, and W. Brown, "Using the Spiral Model and MBASE to Generate New Acquisition Process Models: SAIV, CAIV, and SCQAIV", CrossTalk, vol. 15, no. 1, January 2003, pp. 20-25.
3. D. Port, L. Huang, and B. Boehm, "Strategic Architectural Flexibility," 4th International Workshop on Economics-Driven Software Engineering Research (EDSER), May 2002, pp. 32-37.
4. B. Boehm, L. Huang, "Value-Base Software Engineering: Reinventing 'Earned Value' Monitoring and Control," ACM Software Engineering Notes, vol. 28, no. 2, March 2003, pp. 29.
5. B. Boehm, L. Huang, "Value-Based Software Engineering: A Case Study," IEEE Computer, vol. 36, no. 3, March 2003, pp. 33-41.
6. D. Port, L. Huang, " Strategic Architectural Flexibility," Proceedings IEEE International Conference on Software Maintenance, September 2003.
   

Future Plans:
Develop the value-based model and tool for evaluating software dependability alternatives and trade-offs among them at both development and run time.