Considers the implications for budgeting and performance measurement of the emphasis on strategic management of human and information resources to obtain global competitive advantage. Summarizes relevant research, noting increasing use of economic value added, non‐financial measures and the...

The literature on R&D performance measurement identifies the need for an integrated performance measurement system for strategy implementation. R&D investment opportunities exhibit real option characteristics. Real options techniques can be used to value managers' options to shelter investments...

R&D programs are critical for many firms to achieve and sustain competitive advantage. Yet, measuring R&D performance over time can be quite complex due to inherent uncertainty. The paper responds to calls in the R&D literature to explore integrated performance measurement systems that capture...