He has spoken in 15 countries to a total audience of more than 100,000 people on project management, project portfolio management and leadership skills. #Real options valuation inc professional(is a management consultant, executive coach and inventor with nearly 20 years of professional experience. Prasad Kodukula, PMP, President, Kodukula & Associates, Inc. Reprinting Research and Shipping LogisticsĪuthor BiographyDr.Schools, School Libraries, and School Supply Stores.Independent Booksellers and Regional Wholesalers.IPG Academic and Professional Publishing.Trigeorgis, Real Options Managerial Flexibility and Strategy in Resource Allocation ( MIT Press, Boston, 1996 ). Saaty, The Analytic Hierarchy Process ( McGraw-Hill, New York, 1980 ). D. Pohekar and M. Ramachandran, Renewable Sustain. The Study on Decision Factors of Optimal Timing of New Weapon System Introduction as a New Investment Opportunity from Real Option Approach, Master Thesis of the Seoul National University. Mun, Real Options Analysis: Tools and Techniques for Valuing Strategic Investments and Decisions ( John Wiley & Sons Inc, New York, 2002 ). Treverton, New Challenges, New Tools for Defense Decisionmaking ( Rand Corporation, Santa Monica, 2003 ). Research on the Price Decision Models of the Future Options, Master Thesis of the Seoul National University. Research on the Pareto Efficiency of the Stock Markets and the contribution of Real Options, Master Thesis of the Seoul National University. Glaros, Real Options for Defense ( Department of Defense, U.S.A, 2003 ). Defense Project Management Regulations, Seoul. #Real options valuation inc upgradeChoi, Defense Technology Upgrade Plan ( Korea Institute of Defense Analysis, 2004 ). Empirical Research on B-S OPM: Comparison of the Merton Model, Master Thesis of the Seoul National University. Boer, The Valuation of Technology ( John Wiley & Sons Inc, New York, 1999 ). R. Brealey and S. Myers, Principles of Corporate Finance, 5th edn.The paper suggests some feasible defense policy implications that can be applied to the actual process of defense acquisition projects. It also shows some limitations of using cost- and NPV-based approaches and presents real options valuation methods as its solution. The contribution of this paper is to present the real option framework in valuating of defense R&D projects, providing for the managerial flexibility with option mindsets. Compared to the traditional net present value (NPV) methods and their sensitivity analyses with value drivers, the paper shows the necessity of using real option approaches and their mindsets for defense decision makers to decide their defense R&D projects. This paper presents a real option valuation model with the use of an eight-fold compound option in the valuation of defense R&D projects and its illustrative application using a case study in the Republic of Korea. Defense R&D projects should be considered as a sequential compound real option due to its relevant characteristics. Today, despite the needs of more credible valuation models in defense research and development (R&D), defense decision makers mainly focus on previous cost and NPV-based approaches to evaluate them.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |