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Enhancing R&D Performance Management: A Case of R&D Projects in South Korea

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  • Kiwon Lee

    (Department of Industrial and Management Engineering, Pohang University of Science and Technology, Pohang 37673, Republic of Korea)

  • Suchul Lee

    (Department of Business Administration, Sangmyung University, Seoul 03016, Republic of Korea)

Abstract

This study introduces a comprehensive system designed to monitor and manage the performance of research and development (R&D) projects. The proposed system offers project managers a systematic methodology to enhance the efficiency of R&D performance management. To achieve this, the system categorizes R&D performance indicators based on their feasibility of measurement and the frequency of output generated during R&D activities. The progress rate of each indicator is then represented in terms of observable and latent progress, considering the unique characteristics of each indicator. The calculation methods vary depending on the classification of the indicator. Additionally, a progress priority matrix is developed to aid decision-making by evaluating the current progress and rate of progress increment of the indicators. This matrix enables project managers to prioritize tasks effectively. To assess the validity and usefulness of the proposed system, it is applied to a real case of large-scale R&D projects conducted at a Korean research institute. Interviews with project managers validate that the proposed system surpasses the effectiveness of the legacy system in monitoring R&D progress. Through its comprehensive framework and practical application, this study contributes to the enhancement of R&D project performance monitoring, providing valuable insights for project managers seeking to optimize their R&D management processes.

Suggested Citation

  • Kiwon Lee & Suchul Lee, 2023. "Enhancing R&D Performance Management: A Case of R&D Projects in South Korea," Sustainability, MDPI, vol. 15(15), pages 1-14, July.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:15:p:11752-:d:1206697
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    References listed on IDEAS

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