Designers develop product platforms when they wish to offer variety to the customer and simultaneously keep costs down to a reasonable level. It has been shown that it is feasible and useful to design hierarchic product platforms for customizable products as a problem of optimization of access in a geometric space, allowing the designer to thoroughly explore a product family’s market space. However, the presence of risk, uncertainty, and tradeoffs, which are inevitable aspects of a real-world design problem, are not considered in this method. We have addressed these limitations through the infusion of utility theory into the multi-stage decision-making process. The proposed approach is illustrated with an example: the design of a product platform for a line of customizable pressure vessels.

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