Besed on the analysis of technology and market uncertainty of R&Dproject, a multi-step quadranomial option pricing model is presented for valuing an ongoing R&D project.
This has substantially increased the difficulty of R&D, led to soaring R&D costs, and finally threatened the progress of the whole project.
这就为研发增添了不少困难，导致研发成本上涨，最终威胁到整个项目的进度。
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Mr Autuori is a Design Dept Manager at Bouygues, in charge of underground engineering (especially tunnel project) and maritime project, concurrently in management of R&D.