Issue: 2015/Vol.25/No.3, Pages 73-85
REAL OPTIONS IN A SYSTEMIC APPROACH TO THE TIMING PROBLEM IN DEVELOPMENT PROJECTS
Krzysztof Targiel
Cite as: K. Targiel. Real options in a systemic approach to the timing problem in development projects. Operations Research and Decisions 2015: 25(3), 73-85. DOI 10.5277/ord150305
Abstract
The management environment at the beginning of the XXI century is characterized by high volatility. Development projects should take into account not only certain deliverables but also any oppor- tunities that may arise. These opportunities are called real options. The paper describes a systems approach to various types of real options that can be found in a project’s environment. A method is presented for using such options in the timing problem.
Keywords: real options, project management, multicriteria decision making
Received: 26 January 2015 Accepted: 10 July 2015