Project valuation for the strategic management of research and development
"The most widely used technique for evaluating projects is discounted cash flow. However, discounted cash flow analysis fails to consider flexibility. Real options analysis offers an alternative technique that provides value for the inherent managerial flexibility that most R&D projects contain. The intent of this study is to investigate methods of valuating research and development projects. This consists of the comparison of alternative techniques including a detailed investigation of real options analysis. The investigation compares the relationships of future cash flow, investment costs, interest rates, time, and volatility with the estimated net present value of the project using computer simulations. Such valuation analysis can aid the firm in managing R&D projects for maximum strategic value."--Abstract, page iii.
Engineering Management and Systems Engineering
Ph. D. in Engineering Management
University of Missouri--Rolla
xv, 199 leaves
© 2004 Neal Arthur Lewis, All rights reserved.
Dissertation - Citation
Library of Congress Subject Headings
Real options (Finance)
Project management -- Evaluation
Print OCLC #
Link to Catalog Record
Full-text not available: Request this publication directly from Missouri S&T Library or contact your local library.http://laurel.lso.missouri.edu/record=b5136860~S5
Lewis, Neal, "Project valuation for the strategic management of research and development" (2004). Doctoral Dissertations. 1535.