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Research and development project selection and resource allocation: a review of quantitative modelling approaches
Author(s) -
Heidenberger Kurt,
Stummer Christian
Publication year - 1999
Publication title -
international journal of management reviews
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 4.475
H-Index - 107
eISSN - 1468-2370
pISSN - 1460-8545
DOI - 10.1111/1468-2370.00012
Subject(s) - selection (genetic algorithm) , resource allocation , resource (disambiguation) , quantitative analysis (chemistry) , core (optical fiber) , business , computer science , operations research , management science , industrial organization , economics , process management , management , engineering , computer network , telecommunications , chemistry , chromatography , artificial intelligence
This paper reviews the literature on quantitative modelling for research and development (R&;D) project selection and resource allocation. The topic has been a subject of operations research for about four decades. Its importance stems from the fact that R&D projects are a core element of corporate renewal, heavily influence a firm's market success and, if not properly chosen and trimmed, may waste large amounts of resources or even ruin the enterprise. Our survey classifies and characterizes the various modelling approaches.