An interactive approach to R&D project selection and termination

Jonathan F. Bard · Ramaiya Balachandra · P.E. Kaufmann

129 citations0/0 files storedIEEE Transactions on Engineering Management

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Capital Investment and Risk Analysis Multi-Criteria Decision Making Management and Optimization Techniques

Abstract

A decision support tool is developed that can be used by the R&D manager to effectively update his or her portfolio when a review is called for. The approach is interactive and builds on two sets of critical factors. Initially, projects are screened to see if they are at an acceptable level, and if they are making reasonable progress toward completion. Those failing the test are terminated, those remaining are weighed with candidate projects to determine which should be included in the portfolio. This is achieved with a mathematical programming routine that maximizes expected returns. A case study centering on a peripheral equipment manufacturer is presented to demonstrate the methodology.>

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References

1987Critical factors in successful project implementation 1964Risk analysis capital investment 1987An extension of the analytic hierarchy process for industrial R&D project selection and resource allocation 1983The Practice of Management Science in R&D Project Management 1974R & D project selection models: An assessment 1986Why R&D Projects Succeed or Fail

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