R & D Management
Project management, Technology -- Management, Research and development projects -- Evaluation
Evaluation and selection of new projects is vital to the health of an organization. For many firms, especially those that depend on technology innovation to stay in business, the key to continued competitiveness lies in their ability to develop and implement new products and processes. For these organizations, research and development (R&D) is an integral function within the technology strategic management framework. There are two related sub-problems to selection of R&D projects: to access the evaluation of individual projects and to build a portfolio of the most promising projects among all submitted to a certain call for projects. Finally what really matters is the portfolio, which contains only the projects to be funded and amounts assigned to each project. This paper reviews some of the frequently used models and tools by different governmental and nongovernmental firms to select their R&D projects and briefly explore, based on literature reviews, the contribution of each model to the firm‟s strategies down the organizational hierarchy (Top-Down); from the institutional strategy down to the R&D strategy. Conclusions and suggestions for future research are also provided.
Boemo-Mokhawa, Nametsegang; Gomez, Fredy; Hsieh, I-Hsuan; and Lotfi, Theodore Nyma, "Review of R&D Project Selection Models" (2010). Engineering and Technology Management Student Projects. 880.