Organization Evaluation of Product Development Process Using Agent Based Simulation
Computer Supported Cooperative Work in Design IV
Improving efficiencies and patient safety in healthcare through human factors and ergonomics
Journal of Intelligent Manufacturing
Healthcare management through organizational simulation
Decision Support Systems
Organizational simulation in support of global manufacturing enterprises
Information-Knowledge-Systems Management - Enterprise Transformation: Manufacturing in a Global Enterprise
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Research and development functions are fundamental drivers of value creation in technology-based enterprises. Successful R&D is a function of invention and R&D management. This paper studies R&D management issues from the perspective of their effect on value creation. The particular issues studied are: (i) How does one attach a value to a particular proposed R&D activity, and (ii) how does one allocate funding over the various stages comprising an R&D value stream? Organizational simulation is used in an experiment to determine the value creation effectiveness of alternative investment policies. Experimental results indicate the superiority of valuation methods (options pricing vs. traditional net present value approaches) and budget allocation strategies under differing conditions and differing value-oriented performance measures. An application of the model to R&D in the forest products industry is presented. © 2007 Wiley Periodicals, Inc. Syst Eng 10: 64–82, 2007