A Multi-Criteria Approach For Research And Development Project Selection Based On Fuzzy Logic

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Abstract

Due to the increasingly competitive marketplace, research and development (R‌&‌D) as the key element of innovation are among the most efficient activities for the firms’ managers. All companies that engage in R‌&‌D are faced with the important problem of selecting the most appropriate project. The aim of this paper is to present an efficient framework to evaluate the R‌&‌D projects, to model the experts’ opinions and finally, to select the most appropriate one. We utilize analytic hierarchy process (AHP) technique with fuzzy logic and the Delphi method together to assess the projects efficiently. Finally, a case study is presented to illustrate the procedure of the proposed methodology, together with conclusions and suggestions for future research.   

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