Neueste Publikation des Lehrstuhls: Deciding on new products using a computer-assisted real options approach

Rese, Alexandra; Baier, Daniel (2007): Deciding on new products using a computer-assisted real options approach. in: Int. J. Technology Intelligence and Planning, Vol. 3, No. 3, pp. 292–303 (<link fileadmin uploads marketing files rese_baier__2007__ijtip_3_3_.pdf>Download)

Abstract: Technical and market uncertainties are significant challenges for R&D management. Especially, in the case of New Product Development (NPD), investment decisions have to be made under uncertainty due to unknown costs and returns which arise from project complexity and duration. The framework of real options has been proposed for a better understanding of R&D project’s uncertainty, for modelling management’s flexibility during the project and for selecting the best project alternative. This paper describes the application of a real options approach to the management of NPD projects using standard computer-assisted add-ons to spread sheet technology.

Keywords: New Product Development; NPD; real options; uncertainty; computer-assisted decision support; resources for risk analysis.

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