Research Reports from the Department of Operations

Document Type

Dissertation

Publication Date

5-1-1984

Abstract

This thesis describes an R&D decision support model that was developed and subsequently tested for use within a division of an aerospace firm. The model is used for R&D project evaluation, selection and budgeting. The model uses multiattribute utility theory to describe the preference structure of the organization's decision makers. Data defining the projects is obtained from the firm's decision support system. Mathematical programming techniques are used to select a portfolio of R&D projects that maximizes the expected utility of the firm. Several multiobjective mathematical programming approaches for maximizing expected utility are formulated and evaluated. These include (1) minimization of the weighted sum of deviations from the "ideal" expected utility, (2) minimization of the maximum deviation from the "ideal" expected utility, and (3) preemptive goal programming.

Keywords

Operations research, Research and development projects--Management, Decision support systems, Aerospace industries, Project management--Mathematical models, Utility theory, Mathematical optimization, Industrial management--Decision making

Publication Title

Dissertation/Technical Memorandums from the Department of Operations, School of Management, Case Western Reserve University

Issue

Technical memorandum no. 543 ; Submitted in partial fulfillment of the requirements for the Degree of Doctor of Philosophy.

Rights

This work is in the public domain and may be freely downloaded for personal or academic use

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