کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5080931 | 1477590 | 2012 | 9 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Flexibility planning for managing R&D projects under risk
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کلمات کلیدی
موضوعات مرتبط
مهندسی و علوم پایه
سایر رشته های مهندسی
مهندسی صنعتی و تولید
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چکیده انگلیسی
Incorporating managerial flexibility in an innovative R&D project is important, because managers face greater uncertainty in today's competitive and dynamic changing environment. It is essential to bring managerial flexibility into R&D project planning to decrease technical and market risks, while increasing potential market value. The objective of this paper is to develop a flexibility planning methodology based on real option analysis to improve managerial flexibility for R&D projects. The proposed methodology identifies potential risks that may occur during every R&D stage. It also recognizes a cascading option structure to resolve the identified risks, and evaluates and selects adequate options that maximize the potential value of the project. Instead of using a traditional option pricing method, a dynamic programming model that considers multidimensional product performance and market payoff is used to evaluate the R&D project value. Using the proposed methodology, managers can identify future scenarios as a function of their management actions. The proposed flexibility planning methodology can help managers improve managerial flexibility of R&D project and increase the success rate of product launch. A drug development project is used to illustrate the proposed methodology.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Journal of Production Economics - Volume 135, Issue 2, February 2012, Pages 823-831
Journal: International Journal of Production Economics - Volume 135, Issue 2, February 2012, Pages 823-831
نویسندگان
Juite Wang, Chung-Yu Yang,