IDEAS home Printed from https://ideas.repec.org/h/tkp/tiim13/s2_98-109.html
   My bibliography  Save this book chapter

The Selection of Project in Rapid Environment’s Industry Using Zero Based Budget

Author

Listed:
  • Supachart Iamratanakul

    (Kasetsart University, Thailand)

Abstract

Purpose: The strategic selection of projects deals with the determination of a strategic fit and prioritization. The impact of the project selection process obviously shows on the future profits and growth of an organization. Since the organization is much relied on that growth, this study is initiated to present the case study that the projects can set the plan to prioritize and allocate the resource of an organization. Design/methodology/approach: The budgeting method i.e. “the Zero Based Budget (ZBB)” can be a tool to prioritize projects and allocate those scare resources to the project at the top list. Findings: The article shows the case study of a company from a rapid environment’s industry that needs fast development in their projects. The case provide lesson learn that a technology company should practice the six steps process to maximize their project contributions and deliver results using all available resources. Originality/value: The article shows the key to success for practicing good prioritization for project management at high technology companies. The practical guidelines of Zero Based Budget (ZBB) are also useful for selecting projects.

Suggested Citation

  • Supachart Iamratanakul, 2013. "The Selection of Project in Rapid Environment’s Industry Using Zero Based Budget," Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management,, ToKnowPress.
    • Handle: RePEc:tkp:tiim13:s2_98-109
    as

    Download full text from publisher

    File URL: http://www.toknowpress.net/ISBN/978-961-6914-07-9/papers/S2_98-109.pdf
    File Function: full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. E. P. Winkofsky & N. R. Baker & D. J. Sweeney, 1981. "A Decision Process Model of R&D Resource Allocation in Hierarchical Organizations," Management Science, INFORMS, vol. 27(3), pages 268-283, March.
    2. William F. Sharpe, 1963. "A Simplified Model for Portfolio Analysis," Management Science, INFORMS, vol. 9(2), pages 277-293, January.
    3. Bernard W. Taylor, III & Laurence J. Moore & Edward R. Clayton, 1982. "R&D Project Selection and Manpower Allocation with Integer Nonlinear Goal Programming," Management Science, INFORMS, vol. 28(10), pages 1149-1158, October.
    4. Stanley Reiter, 1963. "Choosing an Investment Program among Interdependent Projects," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 30(1), pages 32-36.
    5. S. L. Schwartz & I. Vertinsky, 1977. "Multi-Attribute Investment Decisions: A Study of R&D Project Selection," Management Science, INFORMS, vol. 24(3), pages 285-301, November.
    6. Keown, Arthur J & Taylor, Bernard W & Duncan, Calvin P, 1979. "Allocation of research and development funds: A zero-one goal programming approach," Omega, Elsevier, vol. 7(4), pages 345-351.
    7. Donald C. Hambrick & Ian C. MacMillan & Ricardo R. Barbosa, 1983. "Business Unit Strategy and Changes in the Product R&D Budget," Management Science, INFORMS, vol. 29(7), pages 757-769, July.
    8. Carole Aldrich & Thomas E. Morton, 1975. "Optimal Funding Paths for a Class of Risky R&D Projects," Management Science, INFORMS, vol. 21(5), pages 491-500, January.
    9. Joel Cord, 1964. "A Method for Allocating Funds to Investment Projects when Returns are Subject to Uncertainty," Management Science, INFORMS, vol. 10(2), pages 335-341, January.
    10. Glazebrook, KD, 1978. "Some ranking formulae for alternative research projects," Omega, Elsevier, vol. 6(2), pages 193-194.
    11. Glazebrook, K. D., 1976. "A profitability index for alternative research projects," Omega, Elsevier, vol. 4(1), pages 79-83.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Heidenberger, Kurt, 1996. "Dynamic project selection and funding under risk: A decision tree based MILP approach," European Journal of Operational Research, Elsevier, vol. 95(2), pages 284-298, December.
    2. Adam, Klaus, 2001. "Learning While Searching for the Best Alternative," Journal of Economic Theory, Elsevier, vol. 101(1), pages 252-280, November.
    3. Farrell E. Jensen, 1985. "Allocating synthesis R & D resources in the agricultural chemicals industry," Agribusiness, John Wiley & Sons, Ltd., vol. 1(3), pages 227-235.
    4. Scott A. Shane & Karl T. Ulrich, 2004. "50th Anniversary Article: Technological Innovation, Product Development, and Entrepreneurship in Management Science," Management Science, INFORMS, vol. 50(2), pages 133-144, February.
    5. Hannart, Alexis & Naveau, Philippe, 2014. "Estimating high dimensional covariance matrices: A new look at the Gaussian conjugate framework," Journal of Multivariate Analysis, Elsevier, vol. 131(C), pages 149-162.
    6. Hanke, Michael & Stöckl, Sebastian & Weissensteiner, Alex, 2020. "Political event portfolios," Journal of Banking & Finance, Elsevier, vol. 118(C).
    7. Magdalena Mikolajek-Gocejna, 2021. "Estimation, Instability, and Non-Stationarity of Beta Coefficients for Twenty-four Emerging Markets in 2005-2021," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 370-395.
    8. Bao, Te & Diks, Cees & Li, Hao, 2018. "A generalized CAPM model with asymmetric power distributed errors with an application to portfolio construction," Economic Modelling, Elsevier, vol. 68(C), pages 611-621.
    9. Dimson, Elroy & Marsh, Paul, 1997. "Stress tests of capital requirements," Journal of Banking & Finance, Elsevier, vol. 21(11-12), pages 1515-1546, December.
    10. Martin, Will, 2021. "Tools for measuring the full impacts of agricultural interventions," IFPRI-MCC technical papers 2, International Food Policy Research Institute (IFPRI).
    11. S. Saravanakumar & S. Gunasekaran & R. Aarthy, 2011. "Investors Attitude towards Risk and Return Content in Equity and Derivatives," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 2(2), pages 01-11, March.
    12. Kanwal Iqbal Khan & Syed M. Waqar Azeem Naqvi & Muhammad Mudassar Ghafoor & Rana Shahid Imdad Akash, 2020. "Sustainable Portfolio Optimization with Higher-Order Moments of Risk," Sustainability, MDPI, vol. 12(5), pages 1-14, March.
    13. Božović, Miloš, 2023. "Can a dynamic correlation factor improve the pricing of industry portfolios?," Finance Research Letters, Elsevier, vol. 53(C).
    14. Chowdhury, Biplob & Jeyasreedharan, Nagaratnam & Dungey, Mardi, 2018. "Quantile relationships between standard, diffusion and jump betas across Japanese banks," Journal of Asian Economics, Elsevier, vol. 59(C), pages 29-47.
    15. Ponta, Linda & Puliga, Gloria & Lazzarotti, Valentina & Manzini, Raffaella & Cincotti, Silvano, 2023. "To copatent or not to copatent: An agent-based model for firms facing this dilemma," European Journal of Operational Research, Elsevier, vol. 306(3), pages 1349-1363.
    16. Wang, Christina Dan & Chen, Zhao & Lian, Yimin & Chen, Min, 2022. "Asset selection based on high frequency Sharpe ratio," Journal of Econometrics, Elsevier, vol. 227(1), pages 168-188.
    17. Christian Thimann, 2015. "The Economics of Insurance, its Borders with Finance and Implications for Systemic Regulation," CESifo Working Paper Series 5207, CESifo.
    18. Bartłomiej Lisicki, 2023. "Sektorowe zróżnicowanie efektu interwału akcji spółek z GPW w dobie pandemii COVID-19," Ekonomista, Polskie Towarzystwo Ekonomiczne, issue 2, pages 174-194.
    19. Kajtazi, Anton & Moro, Andrea, 2019. "The role of bitcoin in well diversified portfolios: A comparative global study," International Review of Financial Analysis, Elsevier, vol. 61(C), pages 143-157.
    20. Daniel Melser & Robert J. Hill, 2019. "Residential Real Estate, Risk, Return and Diversification: Some Empirical Evidence," The Journal of Real Estate Finance and Economics, Springer, vol. 59(1), pages 111-146, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tkp:tiim13:s2_98-109. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Maks Jezovnik (email available below). General contact details of provider: http://www.toknowpress.net/conferences .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.