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如何对“失败”项目进行激励是一个难题。本文论述了基于实物期权价值对“失败”研发项目实现有效激励的一种思路。这种方法把企业在“失败”项目中积累的资源与能力看作是后续技术项目期权价值的构成部分,对应的实物期权类型分别为:延迟期权、收缩期权、放弃期权、转换期权、扩张期权和分期增长期权(产品的升级换代)。企业可以根据不同实物期权的价值设计激励方案,并选择相应的行权方式。
How to motivate “failed ” project is a challenge. This article discusses an idea of effective incentive based on the value of real option to the “fail” R & D project. This method regards the resources and capabilities accumulated by the enterprise in the “fail” project as an integral part of the value of subsequent technology projects. The corresponding types of real options are delayed option, systolic option, abort option, conversion option, Expansion options and installment growth options (product upgrades). Businesses can design incentives based on the value of different real options, and choose the appropriate way to exercise.