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Portfolio analysis and investment strategy for naval research and development [electronic resource] / Richard Silberglitt ... [et al.].

Published
Santa Monica, CA : RAND, 2004.
Physical Description
xxii, 74 p. : ill. ; 23 cm.
Additional Creators
Silberglitt, R. S. (Richard S.), Sherry, Lance, Wong, Carolyn, 1952-, Tseng, Michael S., Ettedgui, Emile, Watts, A. Frank, Stothard, Geoffrey, National Defense Research Institute (U.S.). Acquisition and Technology Policy Center, Rand Corporation, and United States. Office of Naval Research
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Summary
The Office of Naval Research (ONR) has the responsibility for defining and sponsoring research and development (R&D) necessary to support both the current and future requirements of the Navy and Marine Corps. To accomplish this mission, ONR must fund a broad spectrum of research, ranging from basic research needed to open up new options for the long-term to near-term advanced technology development to support the current fleet. Moreover, ONR must make its R&D funding decisions in the presence of uncertainty: uncertainty in required capabilities, in performance requirements, and in the feasibility of a technology or R&D approach. This monograph describes the adaptation of an R&D portfolio management (PortMan) decision framework developed by the RAND Corporation to support ONR's R&D decisionmaking, and the demonstration of its use by means of a case study evaluation of 20 sample ONR applied-research projects. PortMan computes the expected value of an R&D project as the product of three factors estimated by experts: value to the military of the capability sought through R&D, the extent to which the performance potential matches the level required to achieve the capability, and the project's transition probability. This approach allows identification of those R&D projects with high-value capabilities but formidable technical or fielding problems that remain to be solved-projects for which management attention may have the greatest leverage.
Report Numbers
RAND/MG-271-NAVY
Subject(s)
Genre(s)
ISBN
0833036815 (pbk.)
Note
"RAND National Defense Research Institute."
"This research was conducted ... within the Acquisition and Technology Policy Center of RAND's National Defense Research Institute"--Pref.
Bibliography Note
Includes bibliographical references (p. 73-74).
View MARC record | catkey: 14051088