R&D project selection: Productivity considerations
The paper consists of a theoretical discussion of the circumstances justifying the use of RD re-equip with purchased existing best-practice technology; or use R&D to develop new technology. 
 
 
 
The choice depends on which of the four following situations exist: 1) When the productivity of existing capacity is well below its potential and is also well below that of the industry's best-practice; in this case the right strategy is first to bring actual productivity up to potential, and then to consider the purchase of best-practice. 2) When productivity is well up to potential but is well below best practice; the advice is then to purchase best-practice. 3) When existing capacity is already best-practice but productivity is well below capacity; in this case productivity of existing plant should be increased. 4) When existing capacity is bestpractice and productivity is near the maximum; then and only then is R&D to develop new technology justified. 
 
 
 
The paper concludes with a brief account of the process to be undergone between the establishment of a case for R&D using the above criteria and, if R&D is undertaken and completed, the retrospective review of its outcome.
A practical R&D project-selection scoring tool
An improved scoring tool for research and development (R&D) project evaluation and selection is presented that ranks project alternatives based on the criteria of relevance, risk, reasonableness, and return. The scoring algorithm explicitly incorporates tradeoffs among the evaluation criteria and calculates a relative measure of project value by taking into account the fact that value is a function of both merit and cost. Implementation of the selection method in a federal research laboratory is discussed. A comprehensive overview of the R&D project selection literature is included.
Annual Reports
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