Abstract
In the first edition, we proposed a method that could be used as a tool to ensure the validity of project assessment and selection. In that discussion, tangible examples with numerical data were provided. However, we have come across a new problem. There has been little consideration for the "member's condition" and the "mutual relationship among projects." Taking this into account, in this paper, we therefore propose a new evaluation and selection method for R&D projects. The new approach will hopefully become relevant to the former problem as well. In the current proposition, we will 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. The following aspects must be considered when evaluating different projects: 1) To what extent the project is connected to the business or technological strategy of the company; 2) How the project will contribute to current business and the prospect of future corporate growth; 3) Who the project members are and the extent of their ability; and 4) Whether the company can complete the project utilizing its current labor force, equipment and technologies. All organizations must consider these dimensions, in order to select the best project combinations for expanding their business opportunities. It is the contention of this paper that this new method can provide utility information about the R & D investment decision-making, while it will help improve member's contribution to the project.
