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Joseph C. Hartman
Department
Chair and Professor
Industrial and Systems Engineering
303 Weil Hall, PO Box 116595
University of Florida
Gainesville, FL 32611
PHONE: (352) 392-1464
FAX: (352) 392-3537
EMAIL:hartman@ise.ufl.edu
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Welcome to my homepage! Here, you can learn a little about my work -- both
research and teaching. If I ever get around to it, you'll learn a bit more
about me too!
I currently serve as Chair of the Department of Industrial and Systems Engineering at University of Florida.
Read on for research, teaching and professional interests, in addition to
some fun stuff.
My page seems to be getting bigger by the day, so if you
would like to jump to a topic, choose a link. Otherwise, feel free to peruse
the whole page!
Textbook: My new
undergraduate text Engineering Economy and the Decision-Making Process
presents the material in a decision-making context.
Research Interests: Topics
that I spend my time researching. This includes links to papers and
presentations.
Current Research Projects:
Information about projects, sponsors, collaborators and papers.
Students: Information
about my graduate (and undergraduate) students and their research.
The Engineering Economist:
Information about the journal devoted to the problems of capital investment.
I currently serve as Editor.
Teaching Interests:
Information on courses I have taught and papers related to teaching research.
Background Information:
Further information on schooling, job history, etc.
Professional Interests:
Links to societies with which I am an active member.
Some Fun Stuff: Information
about my family, favorite music, sports and hobbies.
This book presents engineering economy in
a decision-making context. After reviewing basic topics such as the cash
flows, interest, interest rates, inflation, utility, the time value of money,
interest factors, and the cost of capital, the text takes the reader through
the decision making process, including:
- Decision-Making Preliminaries: Topics
covered include defining the problem or opportunity; generating solution
alternatives; and estimating before and after-tax cash flows.
- Making the Decision for a Single Project:
Topics covered include evaluating a project under certainty (using PW,
MVA, IRR, ERR, and BC analysis); risk (payback, project balance, break-even,
sensitivity, scenario, and simulation analysis); and with non-economic
factors and mutliattributes.
- Making the Decision for a Multiple
Projects: Topics covered include the analysis of revenue and service
projects with equal and unequal lives; considering options in time; and
multicriteria.
- Postimplementation Analysis: The text
concludes with postimplementation analysis; abandonment; and replacement
analysis.
If you are interested in
reviewing the text, please visit the Prentice-Hall website: Engineering
Economy and the Decision-Making Process. The text comes with a number of
online resources.
With my work in the area of industrial engineering,
I have had the opportunity to explore many research interests. My research
focuses on problems in economic decision analysis. I am interested in
developing models that aid in decision making for industry and the
government. Specifically, I am interested in the following areas:
- Engineering
Economic Decision Analysis
- Parallel Replacement Analysis:
Determining equipment replacement schedules for groups of assets that
are economically interdependent and operate in parallel.
- Replacement Analysis of Evolving
Technologies: Developing models to examine the serial and parallel
replacement problem under continuous and breakthrough technological
change.
- Capital Budgeting: Developing models
which allocate dollars to projects such that companies meet their
investment goals.
 Engineering Economic Analysis Publications
- Transportation Logistics
- Fleet Replacement:
An application of parallel replacement analysis, this work determines
replacement schedules for fleets of assets.
- Network Design:
A broad research area generally concerned with fixed charge network
flow problems and their applications.
- Fleet Sizing and
Mix: Fleet sizing and mix examines the tradeoff between operating
expenses (smaller fleet with high utilization) versus capital expenses
(larger fleet with lower utilization) and thus tradeoffs between
operating and tactical decisoins.
Transportation Logistics Publications
- Manufacturing Logistics
- Investment
Justification: Investments in manufacturing systems are extremely
expensive. Estimating relevant cash flows can be difficult as costs are
hard to quantify and benefits may be intangible. Methods are
investigated to aid in decision making in this difficult environment.
- Investment/Utilization
Tradeoffs: Similar to fleet sizing, the number of machines and
their utilization rates are interdependent.
- Capacity
Planning: The problems specified above often fall into a larger
context of capacity planning, at the machine, line, plant and
enterprise level.
Manufacturing Logistics Publications
To tackle these problems, current methods being employed
include: Dynamic Programming, as this methodology is excellent for
making decisions at discrete points in time and allows for stochastic
information. Approximation methods are extensively investigated; Integer
Programming, with the use of cutting plane algorithsm; and Networks
and Graphs as many decision problems can be represented as networks with
nodes representing states and arcs representing decisions.
Optimization Publications
If you would like more information, feel free to drop me an e-mail.
- Equipment
Replacement under Technological Change This research examines
equipment replacement decisions under continuous and discontinuous
technological change. Continuous technological change refers to
incremental improvements in available assets over time while
discontinuous technological change refers to jumps in technological
improvements. Unfortunately, the amount of improvement is usually
uncertain. We model this as a stochastic dynamic programming problem.
This research is being sponsored in part by the National
Science Foundation, PITA,
and a local hospital.
- R&D Investment Decision Analysis
Research and development investment decisions are critical to future growth
in a number of industries, especially pharmaceuticals. This research
examines the case where new projects arrive and previously funded
projects come up for renewal. The decision each period is whether to
invest in a project (or continue a project) or reject it and reallocate
funding to other projects. Approximate dynamic programming techniques
are being developed for this large-scale, computationlly challenging
problem. This research is sponsored in part by a large, pharmaceutical
firm.
- Capacity Expansion in a Reservation SystemCustomers
often reserve capacity from a contract manufacturer over a number of
periods (months, quarters or even years). As these potential orders
arrive dynamically over time, an interesting question is which orders
should be accepted (to reserve capacity) or which should be rejected
(freeing capacity for future orders) and when should expansions occur.
This research has been sponsored by local manufacturers.
- Pricing Extended WarrantiesThis research
began with Dr. Nat Jack while on sabbatical in Scotland.
Using dynamic programming, we are finding optimal policies for consumer
decisions (keep an asset with or without a warranty or replace the
asset) and also pricing decisions for manufacturers or third party
providers of warranties. The work has been extended to developing menus
of options with integer programming.
- Large-Scale Parallel Replacement AnalysisThis
research looks at the use of integer and dynamic programming to solve
large-scale parallel replacement problems with multiple asset types. As
assets are linked economically through budgeting, demand or availability
constraints, single asset replacement solutions are no longer valid.
Solution techniques include decomposition and cutting plane methods. The
technqiues are also being used to examine different combinatorial
optimization problems (resource allocation and cutting stock). This
research was initiated by an NSF
CAREER award.
- Integrating Asset Utilization and Replacement
Decisions. Traditional replacement models, which provide
decisions over discrete (annual) intervals, are based on expected
operating, maintenance and salvage costs which are dependent on asset
utilization levels determined by operational (daily) decisions. However,
due to uncertainty associated with operations, such as fluctuating
demand or budget levels, these expected utilization levels may not be
realized in practice, thus invalidating the replacement schedule. The
research links tactical (replacement) and operational (utilization)
decisions such that replacement schedules are functions of asset
utilization. This work extends to other capital investment decisions,
such as capacity planning or expansion. This work is a continuation of
the work from an NSF
grant and support from a local fleet operator.
I have had the good
fortune to work with a number of students. Both current students and previous
graduates are listed here with their dissertation and/or thesis topic.
Ph.D. Students
Ozer
Akus, "Parallel Replacement under Variable Utilization"
Esra Buyuktahtakin, "Integrated Dynamic and Integer Programming"
Chin Hon Tan, "Equipment Replacement under Technological Change"
M.S. Students
Lisa Dipsingh,
"Sensitivity Analysis in Dynamic Programming"
Ph.D.
Graduates
Kamonkan
Laksana, Summer 2007
"Pricing
Extended Warranties"
Pinar
Keles, Summer 2007, currently with Air Products Corporation
"Evaluating
Portfolios of Multistage R&D Investment Projects"
Jennifer
Rogers, Spring, 2005, currently with University of San Diego
"Equipment
Replacement under Technological Change"
Thomas
Perry, Fall, 2004, currently with Agere Systems
"Order
Acceptance in Manufacturing Settings"
Jinlong
Ban, Fall, 2003, currently with Health Products Research
"The
Series-Parallel Replacement Problem"
Shangyuan
Luo, Fall, 2003, currently with Sentient Jet
"Generalized
Parallel Replacement Analysis"
Peter
Huegler, Spring, 2003, currently with Lock Haven
University
"Steel
Slab Cutting Stock Problem"
Peiling
Wu, Spring, 2001, currently with GM Research
"An
Integrated Fleet Sizing Model and Two-Phase Solution Approach"
M.S.
Graduates
Ozer
Akus, Fall 2001, currently in Ph.D. Program
"Dynamic
Vehicle Routing"
Adrienne
Appello, Spring 1999, currently with Intel
"Multiple
Machine Investment and Replacement in a Dynamic Environment"
Molly
Clarke, Fall 2001, currently with Alpen, Inc.
"Parallel
Replacement Analysis under Variable AssetUtilization"
Lisa
Dipsingh, Fall 2006, currently with IBM Business Consulting
"Multiple
Replacement Analysis under Budget Constraints"
Nilay
Donmez, Spring 2000, currently with American Express
"Parallel
Replacement under Economies of Scale"
Matthew
Galati, Fall 1999, currently in Ph.D. program
"Parallel
Replacement and Utilization Scheduling via Geometric Programming"
Gauruv
Galati, Fall 2006, currently in Ph.D. program
"Facility
Location and Re-Location with Fixed and Variable Cost Considerations"
Abhishek
Jha, Fall 2000, currently with Avadhi Finance and Technology
"Multiple
Asset Parallel Replacement and Utilization Analysis"
Pinar
Keles, Fall, 2003, currently in the Ph.D. program
"Revisiting
the OCRR in Parallel Replacement"
Vahap
(Akin) Kisakurek, Fall 2002, currently with Proctor and Gamble
"After-Tax
Replacement Analysis"
Alison
Kulp, Spring 2003, currently with Productivity Management Consultants
"Optimal
Depreciation in Loss-Carrying Forwad Situations"
Tim
McGeary, Spring 2006, currently with Lehigh University Library Services
"Electronic
Resource Management: A Capital Budgeting Approach"
Vishvesh
Oza, Spring 1998, currently with Schneider Logistics
"A
Simulation Approach to Fleet Sizing"
Ingrid
Schafrik, Spring, 2003, currently with Norfolk
Southern
"Analysis
of Multiple IRRs"
Kapil
Tayal, Spring, 2003, currently with State Farm Insurance
"Facility
Location and Relocation"
Gretchen
Trump (with R. Berger), Fall, 2005, currently with Air Products
"Network
Design and Content Engine Location Analysis"
Nicholas
Umoh, Spring 2003
"Portfolio
Analysis with Tax Considerations"
Shalu
Wadhwa, Fall 2000, currently with American Express
"Analysis
of a Network Design Problem"
Hui
Wang, Fall 2000, currently with Bank One
"Fleet
Assignment and Utilization in the Truck Rental Industry"
Undergraduate Theses
Emily
Jarina, Spring 2006, currently with IBM Business Consulting
"Implementing
an Equipment Replacement Policy with Multiple Assets and Vintages"
Amanda
Jasinowski, Spring 2006, currently with IBM Business Consulting
"On
the Feasibility of Wind Power"
Alison
Murphy, Fall 2002, currently with ICG Commerce
"Investigations
of the Integer Knapsack Problem"
Anthony
Hillman, Spring 2001, currently with marketRX
"A
Convergent Node Algorithm for Vehicle Routing"
I currently serve as Editor of The
Engineering Economist, a quarterly, peer-reviewed journal devoted to
problems of capital investment. The journal is published by Taylor and
Francis and is supported by both the Institute of Industrial
Engineers and American Society of Engineering
Education. The journal seeks submissions in the areas of capital investment
analysis, cost accounting, cost estimation, cost of capital, economic
decision analysis, and engineering economy education.
The Engineering
Economist Aims and Scope
Research advances, case studies, book and software reviews
are all sought. For more information about submitting an article, consult the
following:
Information for
Authors
I am currently teaching EIN 4354,
Engineering Economy. The course is being maintained on WebCT.
I also research better ways to teach,
especially in the area of engineering economy. The following link is to
papers and work in progress. As the projects progress, this area of
information will grow.
Publications on Teaching
I came to Florida from Lehigh
University where I served as an Associate Professor in the Department of Industrial and Systems Engineering,
holding the Soteria and George N. Kledaras Chair. I took my sabbatical with
the Management Science group at the School of Management
at the The University of Edinburgh in Scotland. If
you ever want to travel to an amazing place.... visit Scotland.
I graduated from the School of
Industrial and Systems Engineering at the Georgia
Institute of Technology with a Ph.D. in Industrial Engineering,
concentrating in Engineering Economic Analysis (June of 1996). I received my
B.S. in General Engineering from the University
of Illinois at Urbana-Champaign in 1992 and my M.S. in Industrial
Engineering from Georgia Tech in 1994.
The Engineering
Economist
IIE Engineering
Economy Division Homepage
ASEE Engineering Economy
Division Homepage
Institute of Industrial Engineers Homepage
INFORMS Homepage
American
Society for Engineering Education Homepage
American
Association for Higher Education
National
Society of Professional Engineers Homepage
We had a wonderful
sabbatical in Scotland
during the 2003-04 academic semester. Just to give you a taste of what we
enjoyed on a daily basis:
Edinburgh Castle, not a bad view on a daily basis!
Bass
Rock, just off the coast of North Berwick. We definitely miss the sea after
living next to it for a year...
St.
Andrews, a beautiful college town with amazing sights, including the castle
on the sea.
Last updated by jch on 12 November 2007.
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