A practical r&d project-selection scoring tool

IEEE Transactions on Engineering Management

Volumn 46, Issue 2, 1999, Pages 158-170

  Henriksen, Anne Depiante ^a   Traynor, Ann Jensen ^b  

^a JAMES MADISON UNIVERSITY   (United States)

^b Department of Electrical and Computer Engineering   (United States)

Author keywords

R d decision making; R d management; R d project selection; Ranking r d projects; Scoring

Indexed keywords

ALGORITHMS; BENCHMARKING; COMPUTATIONAL METHODS; COSTS; DECISION MAKING; DECISION THEORY; PERT; PROJECT MANAGEMENT; RISK MANAGEMENT;

PROJECT-SELECTION SCORING TOOLS; SCORING ALGORITHMS;

RESEARCH AND DEVELOPMENT MANAGEMENT;

EID: 0032637622     PISSN: 00189391     EISSN: None     Source Type: Journal    
DOI: 10.1109/17.759144     Document Type: Article

References (68)

1. H. Averch, Criteria for evaluating research projects and portfolios, in Assessing R&D Impacts: Methods and Practice, B. Bozeman and J. Melkers, Eds. Norwell, MA: Kluwer, 1993, pp. 264-277.
2. N. R. Baker and W. H. Pound, R&D project selection: Where we stand, IEEE Trans. Eng. Manag., vol. EM-11, pp. 124-134, Dec. 1964.
3. N. Baker and J. Freeland, Recent advances in R&D benefit measurement and project selection methods, Manage. Sei., vol. 21, no. 10, pp. 1164-1175, 1975.
4. J. F. Bard, R. Balachandra, and P. E. Kaufmann, An interactive approach to R&D project selection and termination, IEEE Trans. Eng. Manag., vol. 35, pp. 139-146, Aug. 1988.
5. J. F. Bard, Using multicriteria methods in the early stages of new product development, J. Oper. Res. Soc., vol. 41, no. 8, pp. 755-766, 1990. [6] R. J. Bedell, Terminating R&D projects prematurely, Res. Manage., vol. 26, no. 4, pp. 32-35, 1983.
6. M. Bohanec, V. Rajkovic, B. Semolic, and A. Pogacnik, Knowledgebased portfolio analysis for project evaluation, Inform. Manage., vol. 28, no. 5, pp. 293-302, 1995.
7. J. M. Booker and M. C. Bryson, Annotated bibliography on decision analysis with applications to project management, Los Alamos National Laboratory, Los Alamos, NM, Tech. Rep. LA-10027-MS, 1984.
8. J. M. Booker and M. C. Bryson, Decision analysis in project management: An overview, IEEE Trans. Eng. Manag., vol. EM-32, pp. 3-9, Feb. 1985.
9. R. A. A. Boschi, H. U. Balthasar, and M. M. Menke, Quantifying and forecasting exploratory research success, Res. Manage., vol. 22, no. 5, pp. 14-21, 1979.
10. M. S. Brenner, Practical R&D project prioritization, Res. Technol. Manage., vol. 37, no. 5, pp. 38-12, 1994.
11. D. M. Cardus, J. Fuhrer, A. W. Martin, and R. M. Thrall, Use of benefit-cost analysis in the peer review of proposed research, Manage. Sei., vol. 28, no. 4, pp. 439-445, 1982.
12. Y. H. Chun, Sequential decisions under uncertainty in the R&D project selection problem, IEEE Trans. Eng. Manag., vol. 40, pp. 404-113, Nov. 1994.
13. W. D. Cook and Y. Roll, R&D project selection: Productivity considerations, R&D Manage., vol. 18, no. 3, pp. 251-256, 1988.
14. D. Costello, A practical approach to R&D selection, Technol. Forecasting and Social Change, vol. 23, pp. 353-368, 1983.
15. A. F. Czajkowski and S. Jones, Selecting interrelated R&D projects in space planning technology, IEEE Trans. Eng. Manag., vol. 33, pp. 17-24, Feb. 1986.
16. N. Danila, Strategic evaluation and selection of R&D projects, R&D Manage., vol. 19, no. 1, pp. 47-62, 1989.
17. B. V. Dean and M. J. Nishry, Scoring and profitability models for evaluating and selecting engineering projects, Oper. Res., vol. 13, no. 4, pp. 550-569, 1965.
18. O. P. Dias, Jr., The R&D project selection problem with fuzzy coefficients, Fuzzy Sets and Syst., vol. 26, no. 3, pp. 299-316, 1988.
19. P. Fahrni and M. Spätig, An application-oriented guide to R&D project selection and evaluation methods, R&D Manage., vol. 20, no. 2, pp. 155-171, 1990.
20. E. Fox, N. R. Baker, and J. L. Bryant, Economic models for R&D project selection in the presence of project interactions, Manage. Sei., vol. 30, no. 7, pp. 890-902, 1984.
21. H. Gaynor, Selecting projects, Res. Technol. Manage., vol. 33, no. 4, pp. 43-5, 1990.
22. K. Golabi, Selecting a group of dissimilar projects for funding, IEEE Trans. Eng. Manag., vol. 34, pp. 138-145, Aug. 1987.
23. P. M. Goldstein and H. M. Singer, A note on economic models for R&D project selection in the presence of project interactions, Manage. Sei., vol. 32, no. 10, pp. 1356-1360, 1986.
24. D. L. Hall and A. Nauda, A strategic methodology for IR&D project selection, in Proc. 1988 IEEE Engineering Management Conf., 1988, pp. 59-66.
25. S. W. Hess, Swinging on the branch of a tree: Project selection applications, Interfaces, vol. 23, no. 6, pp. 5-12, 1993.
26. J. C. Higgins and K. M. Watts, Some perspectives on the use of management science techniques in R&D management, R&D Manage., vol. 16, no. 4, pp. 291-296, 1986.
27. M. G. Iyigun, A decision support system for R&D project selection and resource allocation under uncertainty, Project Manage. J., vol. 24, no. 4, pp. 5-13, 1993.
28. X. Y. Jin, A. L. Porter, F A. Rossini, and E. D. Anderson, R&D project selection and evaluation: A microcomputer-based approach, R&D Manage., vol. 17, no. 4, pp. 277-288, 1987.
29. R. Khorramshahgol and Y. Gousty, Delphic goal programming (DGP): A multi-objective cost/benefit approach to R&D portfolio analysis, IEEE Trans. Eng. Manag., vol. 33, pp. 172-175, Aug. 1986.
30. D. F. Kocaoglu and M. G. lyigun, Strategic R&D project selection and resource allocation with a decision support system application, in Proc. 1994 IEEE Int. Engineering Management Conf., pp. 225-232.
31. R. N. Kostoff, A cost/benefit analysis of commercial fusion-fission reactor development, J. Fusion Energy, vol. 3, no. 2, pp. 81-93, 1983.
32. _, Evaluation of proposed and existing accelerated research programs by the office of naval research, IEEE Trans. Eng. Manag., vol. 35, pp. 271-279, Nov. 1988.
33. F. Krawiec, Evaluating and selecting research projects by scoring, Res. Manage., vol. 27, no. 2, pp. 22-26, 1984.
34. C. E. Kruytbosch, The role and effectiveness of peer review, in The Evaluation of Scientific Research, D. Evered and S. Harnett, Eds. Chichester, UK: Wiley, 1989, pp. 69-85.
35. Y. Kuwahara and T. Yasutsugu, An empirical view of a managerial evaluation of overall R&D cost-effectiveness, in Proc. 1988 IEEE Engineering Management Conf., 1988, pp. 67-71.
36. J. Lee, S. Lee, and Z. T. Bae, R&D project selection: Behavior and practice in a newly industrializing country, IEEE Trans. Eng. Manag., vol. 33, pp. 141-147, Aug. 1986.
37. M. J. Liberatore and G. J. Titus, The practice of management science in R&D project management, Manage. Sei., vol. 29, no. 8, pp. 962-975, 1983.
38. M. J. Liberatore, A decision support system linking research and development project selection with business strategy, Project Manage. J., vol. 19, no. 5, pp. 14-21, 1988a.
39. ___, An expert system for R&D project selection, Math. Comput. Modeling, vol. 11, pp. 260-265, 1988b.
40. M. J. Liberatore, An extension of the analytic hierarchy process for industrial R&D project selection and resource allocation, IEEE Trans. Eng. Manag., vol. 34, pp. 12-18, Feb. 1989.
41. G. Lockett, B. Hetherington, P. Yallup, M. Stratford, and B. Cox, Modeling a research portfolio using AHP: A group decision process, R&D Manage., vol. 16, no. 2, pp. 151-160, 1986.
42. G. Lockett and M. Stratford, Ranking of research projects: Experiments with two methods, OMEGA, vol. 15, no. 5, pp. 395-100, 1987.
43. P. M. Mäher and A. H. Rubenstein, Factors affecting adoption of a quantitative method for R&D project selection, Manage. Sei., vol. 21, no. 2, pp. 119-129, 1974.
44. T. F. Mandakovic and W. E. Souder, Experiments with microcomputers to facilitate the use of project selection models, J. Eng. Technol. Manage., vol. 7, no. 1, pp. 1-16, 1990.
45. J. P. Martino, Technological Forecasting for Decision Making, 3rd ed. New York, NY: McGraw-Hill, 1993, pp. 96-105.
46. A. Mehrez, Selecting R&D projects: A case study of the expected utility approach, Technovation, vol. 8, pp. 299-311, 1988.
47. J. R. Moore, Jr. and N. R. Baker, An analytical approach to scoring model design-Application to research and development project selection, IEEE Trans. Eng. Manag., vol. EM-16, pp. 90-98, Aug. 1969a.
48. ___, Computational analysis of scoring models for R and D project selection, Manage. Sei., vol. 16, no. 4, pp. B-212-B-232, 1969b.
49. D. P. Newton and A. W. Pearson, Application of option pricing theory to R&D, R&D Manage., vol. 24, no. 1, pp. 83-89, 1994.
50. M. Oral, O. Kettani, and P. Lang, A methodology for collective evaluation and selection of industrial R&D projects, Manage. Sei., vol. 37, no. 7, pp. 871-885, 1991.
51. J. L. Ringuest and S. B. Graves, The linear multi-objective R&D project selection problem, IEEE Trans. Eng. Manag., vol. 36, no. 1, pp. 54-57, 1989.
52. _, The linear R&D project selection problem: An alternative to net present value, IEEE Trans. Eng. Manag., vol. 37, pp. 143-146, May 1990.
53. P. A. Roussel, K. N. Saad, and T. J. Erickson, Third Generation R&D: Managing the Link to Corporate Strategy. Boston, MA: Harvard Business School Press, 1991.
54. A. H. Rubenstein and H. H. Schröder, Managerial differences in assessing probabilities of technical success for R&D projects, Manage. Sei., vol. 24, no. 2, pp. 137-148, 1977.
55. P. V. Rzasa, T. W. Faulkner, and N. L. Sousa, Analyzing R&D portfolios at eastman kodak, Res. Technol. Manage., vol. 33, no. 1, pp. 27-32, 1990.
56. A. M. Sanchez, R&D project selection strategy: An empirical study in spain, R&D Manage., vol. 19, no. 1, pp. 63-68, 1989.
57. R. L. Schmidt, A model for R&D project selection with combined benefit, outcome and resource interactions, IEEE Trans. Eng. Manag., vol. 40, pp. 403-10, Nov. 1993.
58. R. L. Schmidt and J. R. Freeland, Recent progress in modeling R&D project-selection processes, IEEE Trans. Eng. Manag., vol. 39, pp. 189-201, May 1992.
59. Peer review reforms get good review, Science, vol. 265, p. 467, July 22, 1994.
60. P. Silvennoinen, R&D project selection for promoting the efficiency of energy use, R&D Manage., vol. 24, no. 4, pp. 317-324, 1994.
61. W. Souder, A scoring methodology for assessing the suitability of management science models, Manage. Sei., vol. 18, no. 10, pp. B-526-B-543, 1972.
62. W. E. Souder, A system for using R&D project evaluation methods, Res. Manage., vol. 21, no. 5, pp. 29-37, 1978.
63. W. E. Souder and T. Mandakovic, R&D project selection models, Res. Manage., vol. 29, no. 4, pp. 36-42, 1986.
64. W. Stadje, Optimal selection of R&D projects, Appl. Math. Optimization, vol. 28, no. 2, pp. 149-160, 1993.
65. L. W. Steele, What we've learned: Selecting R&D programs and objectives, Res. Technol. Manage., vol. 31, no. 2, pp. 17-36, 1988. [67] T. J. Stewart, A multi-criteria decision support system for R&D project selection, J. Oper. Res. Soc., vol. 42, no. 1, pp. 17-26, 1991.
66. M. Uenohara, A management view of Japanese corporate R&D, Res. Technol. Manage., vol. 34, no. 6, pp. 17-23, 1991.
67. U.S. General Accounting Office, Peer Review: Reforms Needed to Ensure Fairness in Federal Agency Grant Selection: Report to the Chairman, Committee on Governmental Affairs. Washington, DC: U.S. Senate/US-GAO, 1994.
68. R. Venkatraman and S. Venkatraman, R&D project selection and sched-uling for organizations facing product obsolescence, R&D Manage., vol. 25, no. 1, pp. 57-70, 1995.