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Programme Selection in Research and Development

Author

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  • A. Geoffrey Lockett

    (The University of Hull)

  • Anthony E. Gear

    (Manchester Business School)

Abstract

Mathematical programming as an aid to R & D project portfolio selection has been suggested by many authors, but few practical applications have been reported. This paper discusses some, of the difficulties, associated with the application of the proposed models, and describes procedures for handling these problems. Problem areas considered are: Allowance for future opportunities in multi-period models, Generation of alternative risk-return solutions, Inclusion of projects not completed during the planning period, Comparison of linear and integer programming outputs. In the main, both the problems and methods of solution are clarified by means of numerical examples, and details of a practical case study are given.

Suggested Citation

  • A. Geoffrey Lockett & Anthony E. Gear, 1972. "Programme Selection in Research and Development," Management Science, INFORMS, vol. 18(10), pages 575-590, June.
    • Handle: RePEc:inm:ormnsc:v:18:y:1972:i:10:p:b575-b590
    DOI: 10.1287/mnsc.18.10.B575
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    Cited by:

    1. Scobie, Grant M., 1984. "Investment in Agricultural Research: Some Economic Principles," Economics Working Papers 232447, CIMMYT: International Maize and Wheat Improvement Center.
    2. Scott A. Shane & Karl T. Ulrich, 2004. "50th Anniversary Article: Technological Innovation, Product Development, and Entrepreneurship in Management Science," Management Science, INFORMS, vol. 50(2), pages 133-144, February.

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