A decision support system using judgmental modeling: a case of R&D in the pharmaceutical industry

Abstract

The development of a computerized decision support system for R&D project ranking, monitoring and control in the pharmaceutical industry is described. Using a series of techniques based on a judgmental modeling approach, an overall system has been developed that covers several different aspects of the whole decision making process. Illustrative examples are given to show how the components of the model are used in practice, indicating their place in the overall management process. The results provide evidence supporting the value of such models which help reduce ambiguity by using structured approaches.>

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