Assessment and Evaluation, Assessment Framework, Portfolio Analysis, R & D Assessment, Analytic Hierarchy Process
Electrical and Computer Engineering
This paper presents a software tool (the Investment Comparison Tool), a methodology (the Investment Comparison Methodology), and a decision support system (the Investment Comparison System) to aid decision makers with Research and Development Investment allocations. The Investment Comparison System (ICS) can be used vertically within an organization and horizontally across organizations at multiple portfolio investment levels. The ICS is applicable to any R&D environment ranging from Industry Research Environments to Federal Agencies. The ICS described in this paper is comprised of a system architecture, databases, Group Decision Making (GDM) methods, an Investment Comparison Tool (ICT) that includes various algorithms, and reporting tools. To aid in the usage of the ICS, an Assessment and Evaluation Framework, a detailed methodology with its technical foundation, and a corresponding example are also presented. The decision making process used in the methodology is the Analytical Hierarchy Process combined with methods for GDM. ICS is unique because of how it uses a combination of algorithms for assessing R&D Investments and the wide flexibility of its use.