Abstract
This paper proposes an "Evaluation and Selection Method for Research and Development Projects" in the field of research and development (R & D) management. The concept employs a technique in which multiple decision parameters are utilized to access and choose projects; especially the problem structure parameter from the viewpoint of practical application in actual situations. We first discuss the corporate executives and R & D managers that assess new projects and evaluate various ongoing programs. Project variety is usually labeled as follows: basic research, applied research, development research or improvement research. A number of assumptions are presumed when evaluating different projects, such as: 1) To what extent is the project connected to the business or technological strategy of the company? 2) How will the project contribute to current business and the prospect of future corporate growth? And, 3) Can the company complete the project utilizing its current labor force and technologies? All organizations must consider these points in order to select the best project combinations for expanding their business opportunities. Following these considerations, the company then makes a decision on R & D investments. In this paper, we propose a new method that can be used as a tool to ensure the validity of project assessment and selection. Tangible examples with numerical data are provided. It is believed that this method can greatly support the R & D investment decision-making processes of corporate executives and R & D managers.
