R&D project evaluation: An integrated DEA and balanced scorecard approach

Harel Eilat, Boaz Golany, Avraham Shtub

Research output: Contribution to journalArticlepeer-review

Abstract

We present and demonstrate a multi-criteria approach for evaluating R&D projects in different stages of their life cycle. Our approach integrates the balanced scorecard (BSC) and data envelopment analysis (DEA) and develops an extended DEA model. The input and output measures for the integrated DEA-BSC model are grouped in "cards" which are associated with a "BSC for R&D projects". The BSC is embedded in the DEA model through a hierarchical structure of constraints that reflect the BSC balance considerations. We illustrate the proposed approach with a case study involving an industrial research laboratory that selects and executes dozens of R&D projects every year.

Original languageEnglish
Pages (from-to)895-912
Number of pages18
JournalOmega
Volume36
Issue number5
DOIs
StatePublished - Oct 2008

Keywords

  • Balanced scorecard
  • Data envelopment analysis
  • Project evaluation

ASJC Scopus subject areas

  • Strategy and Management
  • Management Science and Operations Research
  • Information Systems and Management

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