The R&D funding decision: the need for a systemic approach

Mike Towler and Jonathan D. Moizer

International Journal of Management and Decision Making, 2008, vol. 9, issue 4, 402-414

Abstract: There is an abundance of techniques for selecting between potential R&D projects. A brief taxonomy of these indicates the importance of the role of both dynamics and learning in such evaluations. This may be an implicit indication that a systemic feature to the funding decision is required. System Dynamics (SD) then seems to be an appropriate method to explore resource allocation within R&D. Insight models using system dynamics further highlight the systemic nature of resource allocation decisions and a simple model confirms the importance of soft factors in such decisions. Hence we argue the need to develop and use a systemic approach to R&D resource allocation decisions.

Keywords: system dynamics; research and development; resource allocation; R&D intensity; R&D project valuation; real options; R&D funding; project selection; learning. (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmdma:v:9:y:2008:i:4:p:402-414

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