Authors:
Guilherme A. Barucke Marcondes
1
and
Claudia Barucke Marcondes
2
Affiliations:
1
National Institute of Telecommunications, Inatel, Av. Joao de Camargo, 510, Santa Rita do Sapucai, Brazil
;
2
Federal Center for Technological Education Celso Suckow da Fonseca, CEFET-RJ, Av. Maracana, 229, Rio de Janeiro, Brazil
Keyword(s):
Innovation Project Selection, Multicriteria Decision Methods, WPM, Uncertainty.
Abstract:
Nowadays, organizations and companies are increasingly seeking to innovate in products and processes. In general, innovation materializes in the form of project execution. However, such projects are complex to implement, the evaluation of which requires understanding and knowledge of many factors. This makes its selection also difficult, given that it is necessary to experiment, which may or may not be successful, involving volatility and uncertainty, which increases when the open approach is implemented (to compensate for a lack of information, resources and skills). The selection of innovation projects can be supported by appropriate tools, in order to assist the decision maker in their choices. Multi-criteria decision methods (MCDM) can provide this support, especially if they take uncertainty into account. This work proposes the application of the Weighted Product Model (WPM), an MCDM, in the selection of innovation projects. To address uncertainty, assessments performed by more
than one expert are translated into three-point estimates and Monte Carlo simulation applied for a stochastic approach. The proposed method is applied to the selection in a group of 13 innovation projects, as an example.
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