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| Author: | Graves, S. B. Ringuest, J. L. |
| Title: | Evaluating competing R&D investments |
| Journal: | Research Management
1991 : JUL-AUG, VOL. 34:4, p. 32-36 |
| Index terms: | R&D INVESTMENTS PROJECTS PROJECT FINANCING DECISION MAKING MODELS |
| Language: | eng |
| Abstract: | Since R&D projects typically last for a number of years, their quantitative analysis and comparison requires some rational means of adjusting project worth as a function of the time profile of project expenditures and returns. An additional adjustment must be made to account for the risk that is present in virtually all R&D activities. Since many projects last for as long as 10 years, these time and risk adjustments may be quite substantial, and may dominate the decision calculus. The state of the art in such decision making models is examined, and methods are recommended for improvement. First adjustments for time alone are dealt with, ignoring risk. Later, methods for adjusting for both time and risk are examined. |
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