Selecting R&D projects for technology-based innovation: An application of the core model approach

To optimize the use of knowledge when selecting R&D projects for technology-based innovation, all possible techniques - whether based on mathematical programming, or behavior, organization and information, or strategic consistency and integration - should be considered. We present a readily oper...

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Bibliographic Details
Main Authors: Cheung, M.T., Greenfield, P.F., Ziqi Liao
Format: Conference Proceeding
Language:English
Subjects:
Australia
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core model
Decision making
Investments
knowledge management
Mathematical programming
Portfolios
project selection
R&D
Research and development
Sensitivity analysis
Technological innovation
technology-based innovation
Utility theory
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Summary:To optimize the use of knowledge when selecting R&D projects for technology-based innovation, all possible techniques - whether based on mathematical programming, or behavior, organization and information, or strategic consistency and integration - should be considered. We present a readily operationalized and flexible approach to this task, under which different project selection techniques are rendered comparable with reference to the normative methodology in economics and relevance to a core-model description of the real world in any application.
ISSN:2157-3611
2157-362X
DOI:10.1109/IEEM.2009.5373527