Project selection under uncertainty: dynamically allocating resources to maximize value
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Boston
Kluwer Academic Publishers
c2004
|
| Series: | International series in operations research & management science
69 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | "Part of the material is based on the first author's Ph.D. thesis research"--Pref. Includes bibliographical references (p. 127-137) and index |
| Physical Description: | vi, 145 p. ill. 25 cm |
| ISBN: | 1402077033 |
Staff View
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| 490 | 1 | |a International series in operations research & management science |v 69 | |
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Record in the Search Index
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| adam_text | Contents
List of Figures vii
Preface ix
Acknowledgments xi
1. INTRODUCTION TO THE PORTFOLIO SELECTION
PROBLEM 1
1 Introduction 1
2 Portfolio Selection: A Complex Task 1
3 Research Questions and Overview of this Book 6
2. WHAT HAS BEEN DONE SO FAR? 13
1 Introduction 13
2 Operational Decisions 14
3 Strategie Decisions 22
4 Strategie Alignment of R D: an Example 25
5 Implications for this Book 29
3. DYNAMIC SELECTION OF NPD PROGRAMS 31
1 Introduction 31
2 Model Setup 33
3 Increasing Returns 36
4 Decreasing Returns 37
5 Decreasing Returns and Market Interactions 43
6 Decreasing Returns and Risk Aversion 44
7 Numerical Example 49
8 n Product Lines and T Periods 53
9 Discussion and Conclusion 54
vi PROJECT SELECTION UNDER UNCERTAINTY
4. APPLYING PROJECT SELECTION AT GEMSTONE 67
1 Introduction 67
2 The Diamond Producer GemStone Inc. 68
2.1 History and Background 68
2.2 The Role of R D at GemStone 71
3 Selecting the Portfolio at GemStone 73
3.1 The Selection Method 73
3.2 Collecting the Project Data 79
3.3 Selecting the Portfolio With Linear Returns 82
4 Discussion and Conclusion 84
5. ADMITTING PROJECTS ONE BY ONE 89
1 Introduction 89
2 Model Setup 90
3 Optimal policy 94
4 Discussion and Conclusion 95
6. PRIORITIZING ONGOING PROJECTS 103
1 Introduction 103
2 Model and Optimal Sequencing Policy 106
3 Discussion and Examples 113
3.1 Importance of Recourse 113
3.2 Limitations Under Stochastic Delay Losses 115
4 Conclusion 117
7. WHAT HAVE WE LEARNED? 123
References 127
About the Authors 139
Index
143
List of Figures
1.1 The Dynamic Portfolio Selection Problem 4
1.2 Qualitative Portfolio Selection Tools 6
2.1 Overview of Portfolio Selection Literature 14
2.2 GemStone s Business, Development and Research
Strategy 26
3.1 Program Data for Numerical Example 50
3.2 Optimal Allocation in the Risk Neutral Scenario 51
3.3 Optimal Allocation in the Risk Averse Scenario 52
4.1 GemStone s Corporate and R D Structure 70
4.2 Areas of Expertise in the Research Function 72
4.3 Decision Tree Representation of Project ES 2 75
4.4 Qualitative Form of Project Return Functions 77
4.5 Overview of Candidate Projects 81
4.6 Optimal Portfolio with Linear Returns 83
6.1 Data of Example With Circular Sequencing Index 112
6.2 Two Projects Competing for a Scarce Resource 115
7.1 Portfolio Management in the Development Funnel 124
|
| adam_txt |
Contents
List of Figures vii
Preface ix
Acknowledgments xi
1. INTRODUCTION TO THE PORTFOLIO SELECTION
PROBLEM 1
1 Introduction 1
2 Portfolio Selection: A Complex Task 1
3 Research Questions and Overview of this Book 6
2. WHAT HAS BEEN DONE SO FAR? 13
1 Introduction 13
2 Operational Decisions 14
3 Strategie Decisions 22
4 Strategie Alignment of R D: an Example 25
5 Implications for this Book 29
3. DYNAMIC SELECTION OF NPD PROGRAMS 31
1 Introduction 31
2 Model Setup 33
3 Increasing Returns 36
4 Decreasing Returns 37
5 Decreasing Returns and Market Interactions 43
6 Decreasing Returns and Risk Aversion 44
7 Numerical Example 49
8 n Product Lines and T Periods 53
9 Discussion and Conclusion 54
vi PROJECT SELECTION UNDER UNCERTAINTY
4. APPLYING PROJECT SELECTION AT GEMSTONE 67
1 Introduction 67
2 The Diamond Producer GemStone Inc. 68
2.1 History and Background 68
2.2 The Role of R D at GemStone 71
3 Selecting the Portfolio at GemStone 73
3.1 The Selection Method 73
3.2 Collecting the Project Data 79
3.3 Selecting the Portfolio With Linear Returns 82
4 Discussion and Conclusion 84
5. ADMITTING PROJECTS ONE BY ONE 89
1 Introduction 89
2 Model Setup 90
3 Optimal policy 94
4 Discussion and Conclusion 95
6. PRIORITIZING ONGOING PROJECTS 103
1 Introduction 103
2 Model and Optimal Sequencing Policy 106
3 Discussion and Examples 113
3.1 Importance of Recourse 113
3.2 Limitations Under Stochastic Delay Losses 115
4 Conclusion 117
7. WHAT HAVE WE LEARNED? 123
References 127
About the Authors 139
Index
143
List of Figures
1.1 The Dynamic Portfolio Selection Problem 4
1.2 Qualitative Portfolio Selection Tools 6
2.1 Overview of Portfolio Selection Literature 14
2.2 GemStone's Business, Development and Research
Strategy 26
3.1 Program Data for Numerical Example 50
3.2 Optimal Allocation in the Risk Neutral Scenario 51
3.3 Optimal Allocation in the Risk Averse Scenario 52
4.1 GemStone's Corporate and R D Structure 70
4.2 Areas of Expertise in the Research Function 72
4.3 Decision Tree Representation of Project ES 2 75
4.4 Qualitative Form of Project Return Functions 77
4.5 Overview of Candidate Projects 81
4.6 Optimal Portfolio with Linear Returns 83
6.1 Data of Example With Circular Sequencing Index 112
6.2 Two Projects Competing for a Scarce Resource 115
7.1 Portfolio Management in the Development Funnel 124 |
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| spelling | Kavadias, Stylianos Verfasser aut Project selection under uncertainty dynamically allocating resources to maximize value Stylianos Kavadias, Christoph H. Loch Boston Kluwer Academic Publishers c2004 vi, 145 p. ill. 25 cm txt rdacontent n rdamedia nc rdacarrier International series in operations research & management science 69 "Part of the material is based on the first author's Ph.D. thesis research"--Pref. Includes bibliographical references (p. 127-137) and index Affectation des ressources Gestion de projets Incertitude Mathematische programmering gtt Projectmanagement gtt Valeur aProject management xMathematical models aResource allocation xMathematical models aUncertainty xMathematical models aValue xMathematical models Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd rswk-swf Portfoliomanagement (DE-588)4115601-8 gnd rswk-swf Allokation (DE-588)4001302-9 gnd rswk-swf Forschung (DE-588)4017894-8 gnd rswk-swf Entscheidung bei Unsicherheit (DE-588)4070864-0 s Portfoliomanagement (DE-588)4115601-8 s Allokation (DE-588)4001302-9 s Forschung (DE-588)4017894-8 s DE-604 Loch, Christoph Sonstige oth International series in operations research & management science 69 (DE-604)BV011630976 69 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=014278959&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Kavadias, Stylianos Project selection under uncertainty dynamically allocating resources to maximize value International series in operations research & management science Affectation des ressources Gestion de projets Incertitude Mathematische programmering gtt Projectmanagement gtt Valeur aProject management xMathematical models aResource allocation xMathematical models aUncertainty xMathematical models aValue xMathematical models Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Portfoliomanagement (DE-588)4115601-8 gnd Allokation (DE-588)4001302-9 gnd Forschung (DE-588)4017894-8 gnd |
| subject_GND | (DE-588)4070864-0 (DE-588)4115601-8 (DE-588)4001302-9 (DE-588)4017894-8 |
| title | Project selection under uncertainty dynamically allocating resources to maximize value |
| title_auth | Project selection under uncertainty dynamically allocating resources to maximize value |
| title_exact_search | Project selection under uncertainty dynamically allocating resources to maximize value |
| title_exact_search_txtP | Project selection under uncertainty dynamically allocating resources to maximize value |
| title_full | Project selection under uncertainty dynamically allocating resources to maximize value Stylianos Kavadias, Christoph H. Loch |
| title_fullStr | Project selection under uncertainty dynamically allocating resources to maximize value Stylianos Kavadias, Christoph H. Loch |
| title_full_unstemmed | Project selection under uncertainty dynamically allocating resources to maximize value Stylianos Kavadias, Christoph H. Loch |
| title_short | Project selection under uncertainty |
| title_sort | project selection under uncertainty dynamically allocating resources to maximize value |
| title_sub | dynamically allocating resources to maximize value |
| topic | Affectation des ressources Gestion de projets Incertitude Mathematische programmering gtt Projectmanagement gtt Valeur aProject management xMathematical models aResource allocation xMathematical models aUncertainty xMathematical models aValue xMathematical models Entscheidung bei Unsicherheit (DE-588)4070864-0 gnd Portfoliomanagement (DE-588)4115601-8 gnd Allokation (DE-588)4001302-9 gnd Forschung (DE-588)4017894-8 gnd |
| topic_facet | Affectation des ressources Gestion de projets Incertitude Mathematische programmering Projectmanagement Valeur aProject management xMathematical models aResource allocation xMathematical models aUncertainty xMathematical models aValue xMathematical models Entscheidung bei Unsicherheit Portfoliomanagement Allokation Forschung |
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