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A two-phase methodology for technology selection and system designA two-phase methodology that can be used to guide R&D managers in the evaluation and selection of competing technologies is presented. Deterministic multiattribute utility theory is used in the first phase to rank the technological alternatives; the example presented involves the evaluation of electric and hybrid passenger vehicles. In all, 39 individuals from eight automotive firms were interviewed to assess their risk preferences and attitudes toward the vehicle design. In the second phase, the decision-maker must allocate a fixed amount of resources to different projects for the technology selected, some of which may be undertaken in parallel, to maximize a given measure of performance. When parallel funding is pursued the best outcome is chosen. The problem is formulated as a probabilistic network and solved heuristically using Monte Carlo simulation. Results are presented for two decision-makers and three budget options. In each case, the heuristic finds the optimal allocation of funds.
Document ID
19890041376
Acquisition Source
Legacy CDMS
Document Type
Reprint (Version printed in journal)
External Source(s)
Authors
Bard, Jonathan F.
(Texas, University Austin, United States)
Feinberg, Abe
(California Institute of Technology, Jet Propulsion Laboratory, Pasadena; California State University Northridge, United States)
Date Acquired
August 14, 2013
Publication Date
February 1, 1989
Publication Information
Publication: IEEE Transactions on Engineering Management
Volume: 36
ISSN: 0018-9391
Subject Category
Administration And Management
Accession Number
89A28747
Distribution Limits
Public
Copyright
Other

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