Electronic Resource
Oxford, UK
:
Blackwell Publishing Ltd
R & D management
11 (1981), S. 0
ISSN:
1467-9310
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
The model has been developed specifically for the great uncertainties obtaining in new-product chemical researchparticularly in the pharmaceutical industry-but it is hoped that it will prove flexible enough to be used in other circumstances. The program is in Fortran and could be run on most computer systems.Procedures for selecting projects and reviewing their progress are becoming increasingly important aspects of R & D management. Modelling a procedure mathematically can prove advantageous, especially if such a model is capable of computational analysis, for then the policy alternatives can easily be explored and compared. This paper describes one such computer based procedure. In quantifying the value of any effort allocation, the program automatically takes account of the fact that estimates of the likelihood that a project will result in a new discovery change as work continues on the project. It also computes a marginal profitability index for each project. Comparison of these indices suggests ways in which effort might profitably be re-allocated among projects.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/j.1467-9310.1981.tb00471.x
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