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Optimizing Development Resource Allocation in Formula One
- Client
Undisclosed/Formula 1 - Project
Resource Optimization
RRA Adherence - Sector
Advanced Industries - Services
Decision Consulting
Data Analytics
Bespoke Engineering
Decision Mapping
Options Analytics
Since 2010, Formula One teams’ operations are subject to a headcount and spending cap, making resource allocation and utilization an ever greater part of how teams compete in the development race. Working with one Formula One team, we developed a decision platform to help improve how resources are deployed to development and production activities.
How resources are deployed across development and production activities has implications for the rate of innovation and the speed at which a team derives benefit from these innovations. The constraints imposed on teams’ operations by the Formula One Teams’ Association (FOTA) Restricted Resource Agreement (RRA) have made it all the more critical for teams to understand the effectiveness of how resources are deployed across their organization.
Working with one Formula One team, we developed a decision platform to help capture data about resource utilization and performance gains, investigate and understand the tradeoffs of different resource allocation strategies, and help optimize resource deployments to maximize performance over a specified time horizon.
The platform allows the team to systematically capture and collect information about how resources are used for different development and production activities, to visualize and probe the performance implications of different resource allocations, to investigate the impact of different budgetary constraints, and to provide a principled way by which to make short-term tactical and long-term strategic decisions in relation to how the team is structured, how it operates, and ultimately what areas it opts to invest in.
