Specific approaches related to risk assessment in the context of ensuring sustainable performance
Risk assessment has an important role in defining business objectives and strategies. Organizations have to identify, evaluate and handle the top impacting risks in order to ensure sustainable performance and increase profitability, quality assurance and clients’ satisfaction. The current economic and political climate has involved changes with impact on all business process; as a consequence, organizations have to find new methods of adapting to the new challenges in order to achieve business objectives.
In order to help manager to make termination decision for the ongoing RD project timely and correctly, the authors review and compare the theory and methodology of termination decision from the literature. Furthermore, we discuss the considerable importance to identify attributes of an ongoing RD project. To identify attributes of an ongoing RD project, the authors examine characteristics and scopes of neural network. Thus, the feasibility of neural network, which is possibly used in RD project termination decisions, is further explored. On the basis of the theory and methodology of neural network, this study attempts to develop a mode identification method to make RD project termination decisions in an effective manner. Finally, the validity of the proposed method is verified by an example. The result shows that the method is both simple and practical.