AHP-based formal system for R&D project evaluation

Abstract

The paper dwells on a judgement model for R&D project evaluation using multifactor criteria based on hierarchic considerations. The idea is to employ formal tools in quantification of subjective evaluations where expert judgement is involved. Comparative evaluations on a priority scale are converted to quantities using the eigen vector concept. This is also the essence of the Analytic Hierarchic Process (AHP) of Satty [Satty T L, <i style="">The analytic hierarchic process</i> (Mc Graw Hill, New York) 1980] which as a technique is employed for R&D project evaluation. It is argued that AHP is more effective than scoring charts and utility models in priority setting based on judgemental evaluation through peer rating.