Article ID: | iaor20063556 |
Country: | United States |
Volume: | 52 |
Issue: | 1 |
Start Page Number: | 119 |
End Page Number: | 129 |
Publication Date: | Feb 2005 |
Journal: | IEEE Transactions on Engineering Management |
Authors: | Wang C.K., Wang Kangmao, Chun Hu |
Keywords: | developing countries, fuzzy sets, research, analytic hierarchy process |
A system for evaluating the outcomes of multidisciplinary R&D projects was developed in China by using the analytic hierarchy process (AHP) model. The AHP framework was structured as a ‘vertical’ AHP with ‘horizontal’ fuzzy scoring. Original inputs for the index system were elicited from a survey of expert evaluators on a national level. The AHP-based system was then applied by the Chinese Ministry of Science and Technology to evaluate a large number of completed R&D projects from multiple fields. The new R&D evaluation system reduced the heavy workload for experts and government agencies, significantly enhanced the efficiency and quality of the award process, and made the evaluation process transparent and fair. In addition, the new evaluation system was user-friendly and fully computerized, an important attribute required for widespread usage. Although the system was initially developed for R&D project evaluation, it can be extended to evaluations in other fields such as investment selection in venture capital and in corporate capital budgeting.