A Study for Allocating Resources in Research and Development Programs by Integrated Subjective and Objective Decision Method
DOI : 10.3844/ajassp.2005.976.979
American Journal of Applied Sciences
Volume 2, Issue 5
A decision model is developed to help managers select the most appropriate sequences of plans for product Research and Development (R and D) projects that have strict constraints on budget, time, and resources. In recent years, many organizations have changed from a discipline orientation to a focus on integrated programs and related outcomes. For decision-maker of these high-profile R and D programs, it is critical to understand which activities are most important, considering both investment feasibility and cost-effectiveness. This study proposes a two-dimensional decision model that integrates analytic hierarchy process (subjective judgment method) and data envelopment analysis (objective judgment method) to perform this essential task. Based on information about these two decision science tools, the model develops a two-axis evaluation space for research alternatives. By locating particular activities in this decision space, a program manager can compare and prioritize alternative research investments.
© 2005 Chun-Chu Liu. This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.