The concept of effectiveness in R&D project selection

The concept of effectiveness in R&D project selection is proposed in this article. The effectiveness is defined as the degree of overlapping among the three sets of items, that is, the items the proponents of an R&D project consider important, the items the evaluators of the proposal take into account, and the items that the top managers perceive substantially affecting success and failure of the projects. Then, the potential usefulness of the concept is demonstrated by applying it to Korean data. The result shows that meaningful analysis regarding the difference in the effectiveness between public and private R&D institutes can be made.