Authors: Dan-mei Zhu, Tie Zhang, Xing-tong Wang, Dong-ling Chen
Addresses: School of Science, Northeastern University, Shenyang, 110004, P.R. China. ' School of Science, Northeastern University, Shenyang, 110004, P.R. China. ' Department of Project Audit, Fushun Research Institute of Petroleum and Petrochemicals, Fushun, 113001, P.R. China. ' School of Information and Engineering, Shenyang University, Shenyang, 110044, P.R. China
Abstract: Since Research and Development (R&D) projects portfolio decision deals with future events and opportunities, much of the information required making portfolio decisions is at best uncertain and at worst very unreliable. R&D projects are sometimes hard to be evaluated and selected. In this paper, an R&D projects portfolio selection decision system has been proposed based on fuzzy logic, in which construct a fuzzy evaluation function by considering fuzzy expanded net present value of each project. In particular, we propose a real-time correction process to renew timely abandoned project, which will carry out a dynamic management for projects portfolio. In the whole frame, we discuss how our methodology can be used to build decision support tools for optimal R&D projects portfolio selection in a corporate environment.
Keywords: R&D projects; R&D portfolio selection; decision making; fuzzy logic; fuzzy expanded NPV; real-time correction process; research and development; net present value; project portfolios; decision support systems; DSS: corporate R&D.
International Journal of Modelling, Identification and Control, 2009 Vol.8 No.3, pp.205 - 212
Available online: 17 Nov 2009 *Full-text access for editors Access for subscribers Purchase this article Comment on this article