Fuzzy Multi-Criteria Evaluation of R&D Projects and A Fuzzy Trinomial Lattice Approach for Real Options
Project selection decisions could be thought withinthe strategic objectives and plans of the firm.So,strategic R&D project selection decision is veryimportant in twO ways.First,in many organizations,R&D budget represents huge investment.Second,R&D projects organizational returns aremultidimensional in nature and risky in terms ofprojected outcome.The risky side of the selectionprocess is calculated by real options approach.Newfuzzy trinomial lattice solution method is used in realoptions approach.Multidimensional side of the R&Dproject selection process is included in the model bymulti-criteria method.Another consideration is thevagueness in the evaluation process.The fuzzy AHP,which takes monetary(fuzzy real option value)andnonmonetary(capability,success probability,trends,etc.)criteria into account,is used to make thisselection among alternative R&D projects.
A.Cagri Toiga Cengiz Kahraman
Industrial Engineering Department,Galatasaray University,Ortakoy,Istanbul,34357,Turkey Industrial Engineering Department,Istanbul Technical University,Maeka,Istanbul,34367,urkey
国际会议
厦门
英文
418-423
2008-11-17（万方平台首次上网日期，不代表论文的发表时间）