10/12/1999
Amram and Kulatilaka offer a new method for managing strategic investments. The "real options" approach is an innovative process that brings a financial market discipline to the evaluation of non-financial assets. Through real-world examples the authors show how to use "real options" to evaluate investments in R&D, information technology, start-up ventures, product design, and contracts. The goal is to help managers target crucial opportunities to re-focus, delay, modify or even abandon their projects as events unfold.