The R&D funding decision: the need for a systemic approach Online publication date: Wed, 09-Jul-2008
by Mike Towler, Jonathan D. Moizer
International Journal of Management and Decision Making (IJMDM), Vol. 9, No. 4, 2008
Abstract: There is an abundance of techniques for selecting between potential R&D projects. A brief taxonomy of these indicates the importance of the role of both dynamics and learning in such evaluations. This may be an implicit indication that a systemic feature to the funding decision is required. System Dynamics (SD) then seems to be an appropriate method to explore resource allocation within R&D. Insight models using system dynamics further highlight the systemic nature of resource allocation decisions and a simple model confirms the importance of soft factors in such decisions. Hence we argue the need to develop and use a systemic approach to R&D resource allocation decisions.
Online publication date: Wed, 09-Jul-2008
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