This paper provides a new life cycle model that takes into account key elements of bounded rationality. The paper shows that the model can account for patterns in the data that are hard to explain by the standard life cycle model. Among other patterns, the model predicts that, typically, the...

In this paper, a model-based planning approach within the framework of distributed hierarchical enterprise management is developed. Suitable algorithms are provided, especially for the case of manufacturing companies. Requirements for a decision support system based on this concept are derived....