MOTI: Real Options for Management of Technological Innovations

小行星9732470 技术创新管理中的风险是不可避免的。 然而，很少有资料存在的金融风险管理技术（如“真实的期权”的估值），以反映在研发项目的管理灵活性。 在拟议的研究中，期权定价理论的适用性，以现实世界的项目管理（最近解除管制）电力公用事业行业将进行测试。 特别是，真实的期权方法开发的迪米特里平迪克，Grenadier韦斯和米切尔汉密尔顿将被用来分析选定的电力公用事业行业的创新管理问题。 提出了一种新的用于评价公用事业企业R D投资方案的真实的期权方法。 该方法考虑了公用事业行业特有的因素，包括新的竞争环境;技术的成熟性和员工对工作实践变化的抵抗危险，这可能是采用新技术所必需的。 将开发一套执行这一方法的软件。 将介绍基于这项工作的跨学科产业导向的“能源市场”计划的研究生课程和研讨会。 研究结果和方法也将适用于其他创新管理情况。

9732470 Ramesh Risk is inevitable in management of technological innovations. However, little information exists on the adoption of financial risk management techniques (such as valuation of "real options") to reflect managerial flexibility in R&D projects. In the proposed research, the applicability of option pricing theory to real-world project management in the (recently deregulated) electric utility industry will be tested. In particular, the real options methodologies developed by Dixit & Pindyck, Grenadier & Weiss and by Mitchell & Hamilton will be used to analyze selected electric utility industry innovation management problems. A new real options methodology for evaluating R&D investment alternatives in the utility industry is proposed. This proposed methodology consider factors unique to utility industry including the new competitive environment; the matured nature of technological and the danger of employee resistance to changes in work practices, which may be necessary for adoption of new technology. A software package that implements this methodology will be developed. Graduate courses and seminars based on this work for the interdisciplinary industry-oriented "energy markets" program will be introduced. The findings and the methodology will also be adapted to other management of innovation situations.