Modelling a Research Portfolio Using AHP: A Group Decision Process |
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Authors: | Geoff Lockett Barrie Hetherington Peter Yallup Mike Stratford Barry Cox |
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Institution: | Manchester Business School, Booth Street West, Manchester M15 6PB;ICI Pharmaceuticals Division, Alderley Park, Macclesfield, Ches, SK10 4TF |
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Abstract: | The problem of choosing a research portfolio has been in the literature for many years. Suggested solutions have ranged from simple scoring models to complex mathematical resource allocation models, but the acceptance rate has been low. In this paper we present an application of a model based on the Analytical Hierarchy Process to a group decision situation. The results are encouraging, showing the positive nature of a model as a focal point in the process. They show that the interactive nature of the methodology encourages the development of subjective estimates and their subsequent discussion. An attempt to counter the problems of biasing has also been made. The methodology presented is seen to be easy to use and adaptable, and becomes an integrating mechanism for the group. |
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