A Scoring Methodology for Assessing the Suitability of Management Science Models

Souder, William E.

doi:10.1287/mnsc.18.10.b526

Cited by 72 publications

(17 citation statements)

References 24 publications

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“…Souder (1972) suggested the general scoring systems methodology for rating and ascertaining the relative degrees of suitability of R&D project selection models. It is still useful for selecting the best practices among projects because of its simplicity, easy understanding, and economics.…”

Section: Previous Literaturementioning

confidence: 99%

THE APPLICATION OF REAL OPTIONS THEORY IN DEFENSE R&D PROJECTS: AN EIGHT-FOLD SEQUENTIAL COMPOUND OPTION MODEL

Jang

Lee

2011

Int. J. Innovation Technol. Management

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Today, despite the needs of more credible valuation models in defense research and development (R&D), defense decision makers mainly focus on previous cost and NPVbased approaches to evaluate them. Defense R&D projects should be considered as a sequential compound real option due to its relevant characteristics. This paper presents a real option valuation model with the use of an eight-fold compound option in the valuation of defense R&D projects and its illustrative application using a case study in the Republic of Korea. Compared to the traditional net present value (NPV) methods and their sensitivity analyses with value drivers, the paper shows the necessity of using real option approaches and their mindsets for defense decision makers to decide their defense R&D projects. The contribution of this paper is to present the real option framework in valuating of defense R&D projects, providing for the managerial flexibility with option mindsets. It also shows some limitations of using cost-and NPV-based approaches and presents real options valuation methods as its solution. The paper suggests some feasible defense policy implications that can be applied to the actual process of defense acquisition projects.

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Section: Previous Literaturementioning

confidence: 99%

THE APPLICATION OF REAL OPTIONS THEORY IN DEFENSE R&D PROJECTS: AN EIGHT-FOLD SEQUENTIAL COMPOUND OPTION MODEL

Jang

Lee

2011

Int. J. Innovation Technol. Management

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“…Then the overall score of the technology is computed by addition or multiplication of individual scores (Souder 1972). The popularity of the scorecard is due to its simplicity and robustness.…”

Section: Related Literature and A Motivating Casementioning

confidence: 99%

CASE-BASED REASONING FOR PREDICTING MULTIPERIOD FINANCIAL PERFORMANCES OF TECHNOLOGY-BASED SMEs

Moon

Sohn

2008

Applied Artificial Intelligence

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“…Souder (1972b) In this study, based on five criteria (realism, flexibility, capability, ease of use, and cost), the author used a rating system to evaluate the suitability of 26 project selection models.…”

Section: Scoring Modelmentioning

confidence: 99%

“…Profitability Index (Economic Model) Linear Programming Model Gear et al (1971) The authors reviewed mathematical programming models that might aid in the selection of a portfolio of projects. Souder (1972b) In this study, based on five criteria (realism, flexibility, capability, ease of use, and cost), the author used a rating system to evaluate the suitability of 26 project selection models.…”

Section: Scoring Modelmentioning

confidence: 99%

A portfolio–evaluation framework for selecting R&D projects

Chien

2002

R & D Management

125

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This study aims to form the basis for constructing a framework for evaluating alternative portfolios of R&D projects. This study provides an extensive literature review on portfolio selection. Most of the existing studies deal with the portfolio selection problem by evaluating individual projects and then seeking ways to combine them for an R&D portfolio. However, the combination of individually good projects unnecessarily constitutes the optimal portfolio. In particular, this study discusses three portfolio effects: (1) the difference between the preference for the portfolio as a whole and the preference for the projects, (2) the interrelation among projects, (3) the size of portfolio selection problems. This study develops a three-phase framework for evaluating R&D portfolios and proposes a new taxonomy of the portfolio attributes (i.e. independent, interrelated, and synergistic). This study concludes with a discussion of future research, directed toward increasing the applicability of portfolio-selection approaches for managing R&D portfolios.

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A Scoring Methodology for Assessing the Suitability of Management Science Models

Cited by 72 publications

References 24 publications

THE APPLICATION OF REAL OPTIONS THEORY IN DEFENSE R&D PROJECTS: AN EIGHT-FOLD SEQUENTIAL COMPOUND OPTION MODEL

THE APPLICATION OF REAL OPTIONS THEORY IN DEFENSE R&D PROJECTS: AN EIGHT-FOLD SEQUENTIAL COMPOUND OPTION MODEL

CASE-BASED REASONING FOR PREDICTING MULTIPERIOD FINANCIAL PERFORMANCES OF TECHNOLOGY-BASED SMEs

A portfolio–evaluation framework for selecting R&D projects

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