The linear multi-objective R&D project selection problem

A multi-objective model of the project-selection problem is described. The model departs from an earlier goal-programming formulation of the problem, which suggested Delphic methods for selection of priorities and aspiration levels. It is shown that the multiobjective formulation yields multiple non...

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Bibliographic Details
Published in:IEEE transactions on engineering management 1989-02, Vol.36 (1), p.54-57
Main Authors: Ringuest, J.L., Graves, S.B.
Format: Article
Language:English
Subjects:
Applied sciences
Computer industry
Decision making
Decision theory. Utility theory
Exact sciences and technology
Functional programming
Intelligent robots
Linear programming
Machine intelligence
Mathematical model
Mathematical models
Mathematical programming
Operational research and scientific management
Operational research. Management science
Project evaluation
R&D
Research & development
Research and development
Selection
Service robots
Uncertainty
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Summary:A multi-objective model of the project-selection problem is described. The model departs from an earlier goal-programming formulation of the problem, which suggested Delphic methods for selection of priorities and aspiration levels. It is shown that the multiobjective formulation yields multiple nondominated solutions for the same problem solved by goal programming, whereas the goal-programming formulation revealed only one solution, and that the goal-programming solution is sensitive to choice of aspiration levels. The multiobjective model is recommended as a more general approach to the research and development project-selection problem, since it will develop a set of all nondominated solution. Subjective methods (such as the Delphic technique) can then be called for at a later point in the analysis to choose among alternative nondominated solutions.< >
ISSN:0018-9391
1558-0040
DOI:10.1109/17.19984