Supporting the project portfolio selection decision of research and development investments by means of multi-criteria resource allocation modelling

J. M. Hummel*, Monica D. Oliveira, Carlos A. Bana e Costa, Maarten J. IJzerman

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review

8 Citations (Scopus)

Abstract

The healthcare industry needs to carefully balance their research and development (R&D) project portfolios in terms of the diverse benefits, risks and costs of the technology they aim to develop. Although not common in healthcare, multi-criteria portfolio selection modelling can provide a structured and transparent approach to support decision-makers to share information on the performances of their R&D projects, to negotiate the necessary trade-offs to evaluate the projects and to arrive at a decision for an R&D project portfolio that decision-makers are committed to. In this chapter we illustrate how the Measuring Attractiveness by a Categorical Based Evaluation Technique (MACBETH) approach, assisted by the recent portfolio module of the M-MACBETH decision support system, was used to build a model to select a portfolio of robotic innovations for minimal invasive surgical interventions. We show how these projects were prioritized according to their value for money and how the value of the R&D portfolio was maximized under a budget constraint and under the presence of interdependencies between projects that could affect their benefits, risks and/or costs.

Original languageEnglish
Title of host publicationMulti-Criteria Decision Analysis to Support Healthcare Decisions
EditorsKevin Marsh, Mireille Goetghebeur, Praveen Thokala, Rob Baltussen
PublisherSpringer International Publishing AG
Pages89-103
Number of pages15
ISBN (Electronic)9783319475400
ISBN (Print)9783319475387
DOIs
Publication statusPublished - 18 Apr 2017

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    Hummel, J. M., Oliveira, M. D., Bana e Costa, C. A., & IJzerman, M. J. (2017). Supporting the project portfolio selection decision of research and development investments by means of multi-criteria resource allocation modelling. In K. Marsh, M. Goetghebeur, P. Thokala, & R. Baltussen (Eds.), Multi-Criteria Decision Analysis to Support Healthcare Decisions (pp. 89-103). Springer International Publishing AG. https://doi.org/10.1007/978-3-319-47540-0_6