Project Evaluation

Abstract

Project evaluation is a dynamic process in R&D management. This chapter provides objectives of the project evaluation, the risks associated with project selection and criteria for evaluation for research proposals. R&D project evaluation is an art combined of Quantitative measures and expert judgments to assess and evaluate R&D projects. At the end of the chapter we have given a brief assessment on criteria for evaluations of project proposals, its costs and benefits and selection.

Learning Objectives

• 1. To understand the meaning, need and benefits, and costs of project evaluation.

• 2. To enumerate the various risks associated with R&D projects, selection, and assorted criteria for evaluation of research project proposals.

• 3. To explore the estimation of costs and benefits of R&D projects.

• 4. To describe the several factors to identify the different possible fields of benefits.