Abstract
For the evaluation of new product development (NPD) and – alternatively – research & development (R&D) projects, the consideration of technical, market, and environmental uncertainties is of highest importance. Such uncertainties often result from changes in the markets and their environment. In these cases, real options assessment can provide a better understanding of the value of a project, since this approach allows to model management actions during the products’ lifetime very flexible and allows to select best project alternatives. This paper describes the use of the real options approach in information technology (IT). The application field is the production of a new desktop video-conference system with possible product extensions to be developed during lifetime.
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