Industrial R&D project portfolio selection method using a multi-objective optimization program: A conceptual quantitative framework
| Autor: | Mads Kjærgaard Nielsen, Anders MSØ Jacobsen, Jeppe Lykke Carstensen, Mathilde Toft Nielsen, Torben Tambo |
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| Jazyk: | angličtina |
| Rok vydání: | 2024 |
| Předmět: | |
| Zdroj: | Journal of Industrial Engineering and Management, Vol 17, Iss 1, Pp 217-234 (2024) |
| Druh dokumentu: | article |
| ISSN: | 2013-8423 2013-0953 |
| DOI: | 10.3926/jiem.6552 |
| Popis: | Design/methodology/approach: Research and development (R&D) activities are crucial if companies are to adapt to technology changes, but budget constraints and limited resources often force companies to select a subset of candidate projects through portfolio selection techniques. However, existing models for R&D portfolio selection do not adequately consider interdependencies and types of projects, and this can lead to suboptimal selection and misalignment with corporate objectives. Findings: A Multi-Objective Optimisation Program (MOOP) is suggested transcending from classic manpower, time and financial planning into addition of strategic, skills and commercial objectives. A Pareto front is used as validation mechanism. Research limitations/implications: Project selection processes are widened with select and critical quantitative positions. Potentials remain in areas of team capability, corporate capabilities, deeper skill understanding, and stakeholder engagement. Practical implications: A quantitative validation is often overlooked in PPM project selection over more qualitative or idiosyncratic selection methods. Originality/value: A quantitative validation is often overlooked in PPM project selection over more qualitative or idiosyncratic selection methods. |
| Databáze: | Directory of Open Access Journals |
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