Deciding on new products using a computer-assisted real options approach
by Alexandra Rese, Daniel Baier
International Journal of Technology Intelligence and Planning (IJTIP), Vol. 3, No. 3, 2007

Abstract: Technical and market uncertainties are significant challenges for R&D management. Especially, in the case of New Product Development (NPD), investment decisions have to be made under uncertainty due to unknown costs and returns which arise from project complexity and duration. The framework of real options has been proposed for a better understanding of R&D project's uncertainty, for modelling management's flexibility during the project and for selecting the best project alternative. This paper describes the application of a real options approach to the management of NPD projects using standard computer-assisted add-ons to spreadsheet technology.

Online publication date: Wed, 14-Nov-2007

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