Project selection under uncertainty
Subtitle: dynamically allocating resources to maximize value
By: Stylianos Kavadias, Christoph H. Loch.
Contributors: Loch, C.
Series: International series in operations research & management science -- 69
Publisher: Kluwer Academic Publishers; Springer
Published: 2004
Place of publication: Boston
Language: eng
Number of pages: 145
Subjects: Project management -- Mathematical models.; Resource allocation -- Mathematical models.; Uncertainty -- Mathematical models.; Value -- Mathematical models.
Description: "This book takes a step in developing a theory that addresses the need for quantitative prioritization criteria within the broader strategic context of the R & D portfolios. Its foundation lies in mathematical theory of resource-constrained optimization with the goal to maximize quantitative returns. The book seeks to broaden the portfolio discussion in two ways. First, simplified models - appropriate for the data-poor NPD context - are developed, which attempt to illuminate the structure of the choice problem and robust qualitative rules of thumb, rather than detailed algorithmic decision support. Such robust rules can be applied in the R & D environment of poor data availability. Second, the annual portfolio review is not the only important choice in resource allocation.

In addition, the book discusses how ideas might be pre-screened as they emerge, and how projects should be prioritized once they are funded and ongoing."--Jacket.
Notes: "Part of the material is based on the first author's Ph.D. thesis research"--Pref.

Includes bibliographical references (p. 127-137) and index.