Issue: 2015/Vol.25/No.3, Pages 73-85
REAL OPTIONS IN A SYSTEMIC APPROACH TO THE TIMING PROBLEM IN DEVELOPMENT PROJECTS
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
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