Do Managers' Heuristics Affect R&D Performance Volatility?

Topics:
Efficiency
Tags:
Business Operations,
Product Development,
R&D,
R&D Performance Volatility,
Research & Development
Source:
President and Fellows of Harvard College

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Overview: R&D performance volatility plays a critical role in various industries. Prior work in the innovation and product development literature has examined the factors influencing various dimensions of R&D performance. However, still little is known about the volatility of R&D output over time at the firm level. This paper uses a simulation model to explore such phenomenon, with a specific focus on the pharmaceutical industry. The fluctuations in R&D performance over time is argued, while rooted in the uncertainty characterizing the development process, can be exacerbated by the heuristics decision makers use in managing the firm's R&D project portfolio. In particular, paper focuses on the impact on volatility of two types of heuristics: resource allocation and project termination strategies.

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Format: PDF | Size: 110KB | Date: Feb 2006 | Pages: 32

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