The document outlines the Model-Based Systems Engineering (MBSE) initiative led by the International Council on Systems Engineering (INCOSE) focusing on a Cubesat framework, detailing the phases of development from a reference model to simulation applications. It emphasizes collaboration among various engineering teams, educational institutions, and commercial modeling tool providers, along with the use of SysML for complex system modeling. Key challenges include ensuring system specification consistency and improving communication through advanced modeling tools and techniques.