A methodology for collective evaluation and selection of industrial R&D projects

This paper proposes a methodology for evaluating and selecting R&D projects in a collective decision setting, especially useful at sectorial and national levels. It consists of two major phases: Evaluation and Selection. The evaluation process repeatedly uses mathematical programming models to determine the ‘relative values’ of a given R&D project from the viewpoint of the other R&D projects. The selection process of R&D projects is based on these ‘relative values’ and is done through a model-based outranking method. The salient features of the methodology developed are its ability to (1)permit the evaluation of an R&D project from the viewpoint of the other R&D projects without at first imposing a uniform evaluation scheme, and (2)maximize the level of consensus as to which projects should not be retained in the R&D Program being funded, thus minimizing the level of possible resentment in those organizations or department whose projects are not included in the R&D Program. Also discussed in this paper is an application of the methodology to evaluate and select major R&D projects in the iron and steel industry of Turkey.