Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.19/2574
Título: A Stochastic Model for Managing Tasks of R&D Projects
Autor: Fialho, Joana
Godinho, Pedro
Costa, João Paulo
Palavras-chave: Research and development; R&D; analytic hierarchy process; AHP; project evaluation;
Real options
Stochastic models
Optimal decisions
Data: 2011
Editora: Organizing Commitee
Resumo: In this paper, we propose a model for managing tasks of R&D projects. We assume that di®erent amounts of resources may be allocated to a task, leading to different costs, and di®erent average execution speeds. The advancement of the task will be stochastic, and the manager may change the allocated amount of resources according to the way the task is progressing. The revenues will depend on the time to the completion of the task, and their expected value will follow a stochastic process. We consider that a strategy for completing the task will consist on a set of rules that de¯ne the level of resources to be chosen at each moment, according to the values of several state variables. We discuss the evaluation for completing the task, and we brie°y address the problem of finding the optimal strategy
Peer review: yes
URI: http://hdl.handle.net/10400.19/2574
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