View article

The purpose of this paper is to review the content and contributions of the article by Klein and Meckling entitled “Application of operations research to development decisions” which was published in the journal Operations Research in May‐June 1958. The paper explores the major concepts and contributions in the article and suggests that these are relevant to today's complex and uncertain development projects.

The paper outlines the context in which the research on which the article is based took place and presents the main ideas in the article which relate to decision making in the procurement and development of complex systems.

The paper demonstrates the utility of the concepts in the original article, shows how they have been used in academic research on project management and innovation and that they are still relevant for both practical project …