The application of a new research and development project selection model in SMEs

Lawson, Craig; Longhurst, Philip J.; Ivey, Paul

doi:10.1016/j.technovation.2004.07.017

Cited by 75 publications

(46 citation statements)

References 13 publications

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“…In the past several years, numerous efforts have been made to help companies become better at making decisions in terms of R&D project selection [1,2,5]. Past studies have focused on building integrated decision models and creating decision-making methods.…”

Section: The Related Literaturementioning

confidence: 99%

“…It is indeed one of the key factors enhancing competitiveness. Offering a technically superior product can be a significant advantage in the marketplace, especially for high tech companies, making investment in R&D for the development of technological products very important [1]. However, it is also known that product development is dependent on the ability of a team to work together and that good teamwork is needed to smooth the product development process.…”

Section: Introductionmentioning

confidence: 99%

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A Consistent Fuzzy Preference Relations Based ANP Model for R&D Project Selection

2017

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In today's rapidly changing economy, technology companies have to make decisions on research and development (R&D) projects investment on a routine bases with such decisions having a direct impact on that company's profitability, sustainability and future growth. Companies seeking profitable opportunities for investment and project selection must consider many factors such as resource limitations and differences in assessment, with consideration of both qualitative and quantitative criteria. Often, differences in perception by the various stakeholders hinder the attainment of a consensus of opinion and coordination efforts. Thus, in this study, a hybrid model is developed for the consideration of the complex criteria taking into account the different opinions of the various stakeholders who often come from different departments within the company and have different opinions about which direction to take. The decision-making trial and evaluation laboratory (DEMATEL) approach is used to convert the cause and effect relations representing the criteria into a visual network structure. A consistent fuzzy preference relations based analytic network process (CFPR-ANP) method is developed to calculate the preference-weights of the criteria based on the derived network structure. The CFPR-ANP is an improvement over the original analytic network process (ANP) method in that it reduces the problem of inconsistency as well as the number of pairwise comparisons. The combined complex proportional assessment (COPRAS-G) method is applied with fuzzy grey relations to resolve conflicts arising from differences in information and opinions provided by the different stakeholders about the selection of the most suitable R&D projects. This novel combination approach is then used to assist an international brand-name company to prioritize projects and make project decisions that will maximize returns and ensure sustainability for the company.

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Section: The Related Literaturementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

A Consistent Fuzzy Preference Relations Based ANP Model for R&D Project Selection

2017

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“…They are invited to take into consideration information pertaining to varied operational aspects of the project, such as production, marketing, finance, or personal administration as well as strategic ones, such as long term impact Hervé Corvellec & Nikos Macheridis The moral responsibility of project selectors on the parent organisation's performance. They are also increasingly invited to take uncertainty and risk into consideration [24]. It is therefore all the more remarkable that the moral dimensions of their choices have so far received so little attention.…”

Section: Project Selectionmentioning

confidence: 99%

The moral responsibility of project selectors

Corvellec

Macheridis

2010

International Journal of Project Management

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The starting point of this paper asserts that managers who elicit and select projects have a moral responsibility. Correspondingly, its purpose is to provide a means for project selectors to appreciate this responsibility so that it can be put into practice. A model of the moral responsibility involved in project selection is presented. This model combines a) an explication of responsibility into attributability-what choices the project manager can ultimately be praised or blamed for, and accountability-the necessity of being prepared to answer for one's choices; with b) an explication of the project selection process into an initialisation phase, an appraisal phase, and a decision phase. Various moral philosophers are called upon to make explicit the moral issues that are at stake for each of these two dimensions of responsibility at each stage of the project selection process. Concluding remarks point to the need for project selectors to contextualise their use of the model.

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“…Central to their survival and growth strategy is the need to innovate, as new technology may offer companies a leading edge over competitors in the current market and open new markets [1]. That is, R&D, as a core of innovation, plays a major role in developing competitive technologies to support core business growth.…”

Section: Introductionmentioning

confidence: 99%

R&D Project Selection Incorporating Customer-Perceived Value and Technology Potential: The Case of the Automobile Industry

et al. 2017

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Abstract:As user-centric innovation has recently emerged as a successful way of developing new products, services, and concepts, it is worth considering the perspectives of potential technology users during R&D project selection processes. Nevertheless, little effort has been made to reflect customer-perceived value in establishing selection criteria, with the focus mainly on technological potential instead. Therefore, this study aims to develop an R&D project selection model incorporating not only technological potential but also customer-perceived value. For this purpose, a new R&D project evaluation model and process is proposed, and its feasibility is tested by potential users in a real scenario. The automobile industry is suitable for our evaluation model because it is a B2C and system-based industry where customer needs are critical to market success and a number of R&D projects are proposed every year. Finally, a supporting tool is developed to help interact with various evaluators and visualize the evaluation results, as customer involvement is recommended for accurate project evaluation from the perspective of technology users. This study is one of the earliest attempts to reflect customer-perceived value in R&D project selection, and practically, the research outputs are expected to be useful to automobile manufacturers in creating value from R&D projects.

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The application of a new research and development project selection model in SMEs

Cited by 75 publications

References 13 publications

A Consistent Fuzzy Preference Relations Based ANP Model for R&D Project Selection

A Consistent Fuzzy Preference Relations Based ANP Model for R&D Project Selection

The moral responsibility of project selectors

R&D Project Selection Incorporating Customer-Perceived Value and Technology Potential: The Case of the Automobile Industry

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