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

The work reported in this paper investigates Research and Development (R&D) project selection models, focusing on the application of a new hybrid project selection model in a UK based engineering Small to Medium-sized Enterprise (SME). Work is done to enable the new project selection model to be applied in an SME and the model is then field tested. Field test results provide insight into the barriers to the adoption of such a model in an SME, either as a decision support tool or as a knowledge acquisition and learning tool. Insights are gained into the suitability and limits that exist within SMEs for the use of such decision support models. As an outcome of the field test results a simple R&D project portfolio cash-flow tracking method is proposed.