Research and development project evaluation based on an integrated common set of weights in data envelopment analysis and balanced scorecard approach

The objective of this article is to propose a new approach for evaluating research and development (R and D) projects in different stages of their life cycle. More recently, some researchers have proposed data envelopment analysis (DEA) as a tool for evaluating R&D projects. In order to eliminate the inconsistency caused by using different frontier facets to calculate efficiency, common set of weights DEA models have been developed, under which a group of decision making units (DMUs) can be ranked for a specific period. Our approach integrates the balanced scorecard (BSC) and common set of weights (CSW) in DEA and develops a new model for project evaluation.   Key words: Data envelopment analysis, common set of weights, balanced scorecard, project evaluation.