R&D project selection: A decision process approach

Mordechai I. Henig*, Haim Katz

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

15 Scopus citations

Abstract

The fundamental decision problem of an R&D firm is to select projects in which to invest. Most reported models dealing with this subject use sophisticated mathematical models maximizing specific attributes of the projects without dealing with the underlying motivation of the decision maker. This paper summarizes a successful application of a decision-making process involving multicriteria in the selection of R&D projects in the Ecogen Israel Partnership. We emphasize the structure of the decision problem, with the main goal of helping the decision maker to better understand the nature of his problem. We systematically generate the objective hierarchy of the decision maker, including his main criteria, subcriteria attributes and alternatives. The ‘best’ alternative can then be found using most interactive procedures found in the literature. As the decision maker is totally involved in the entire decision-making process he is better able to understand his problem and preferences.

Original languageEnglish
Pages (from-to)169-177
Number of pages9
JournalJournal of Multi-Criteria Decision Analysis
Volume5
Issue number3
DOIs
StatePublished - Sep 1996

Keywords

  • MCDM
  • Objective hierarchy
  • R&D

Fingerprint

Dive into the research topics of 'R&D project selection: A decision process approach'. Together they form a unique fingerprint.

Cite this