TY - GEN
T1 - Fuzzy multi-criteria evaluation of R&D projects and a fuzzy trinomial lattice approach for real options
AU - Tolga, A. Çagri
AU - Kahraman, Cengiz
PY - 2008
Y1 - 2008
N2 - Project selection decisions could be thought within the strategic objectives and plans of the firm. So, strategic R&D project selection decision is very important in two ways. First, in many organizations, R&D budget represents huge investment. Second, R&D projects' organizational returns are multidimensional in nature and risky in terms of projected outcome. The risky side of the selection process is calculated by real options approach. New fuzzy trinomial lattice solution method is used in real options approach. Multidimensional side of the R&D project selection process is included in the model by multi-criteria method. Another consideration is the vagueness in the evaluation process. The fuzzy AHP, which takes monetary fuzzy real option value) and nonmonetary (capability, success probability, trends, etc.) criteria into account, is used to make this selection among alternative R&D projects.
AB - Project selection decisions could be thought within the strategic objectives and plans of the firm. So, strategic R&D project selection decision is very important in two ways. First, in many organizations, R&D budget represents huge investment. Second, R&D projects' organizational returns are multidimensional in nature and risky in terms of projected outcome. The risky side of the selection process is calculated by real options approach. New fuzzy trinomial lattice solution method is used in real options approach. Multidimensional side of the R&D project selection process is included in the model by multi-criteria method. Another consideration is the vagueness in the evaluation process. The fuzzy AHP, which takes monetary fuzzy real option value) and nonmonetary (capability, success probability, trends, etc.) criteria into account, is used to make this selection among alternative R&D projects.
UR - https://www.scopus.com/pages/publications/60349113781
U2 - 10.1109/ISKE.2008.4730966
DO - 10.1109/ISKE.2008.4730966
M3 - Conference contribution
AN - SCOPUS:60349113781
SN - 9781424421978
T3 - Proceedings of 2008 3rd International Conference on Intelligent System and Knowledge Engineering, ISKE 2008
SP - 418
EP - 423
BT - Proceedings of 2008 3rd International Conference on Intelligent System and Knowledge Engineering, ISKE 2008
T2 - Proceedings of 2008 3rd International Conference on Intelligent System and Knowledge Engineering, ISKE 2008
Y2 - 17 November 2008 through 19 November 2008
ER -