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By focusing its attention on one particular scoring method that is used to evaluate R&D projects, this paper seeks to specify empirically the factors that discriminate successful projects from failed projects in the Japanese chemical industry. Our statistical analysis revealed that when projects are evaluated in this industry, three factors, marketability, technology, and synergistic potential, tend to be valued by practitioners approximately in a 3:2:1 ratio. Although the project evaluations in this research were conducted ex-post, the findings suggest that the results may also be applicable in the project selection stage. Building on our findings, we propose a Continuous Improvement Scoring Method (CISM) that contains continuous improvement cycles and links ex-ante project selection with ex-post project evaluation.

A Note on New Product Project Selection Model