資訊管理學報
巫亮全;翁崇雄;許耀文;
頁: 1-16
日期: 2006/10
摘要: 企業資源規劃系統(ERP)乃一昂貴、費時，且牽涉許多不確定因素之投資。ERP系統與其他資訊系統投資之不同處，在於其特有之可遞延投資前階段(deferrable pre-investment phase)。以往以淨現值法(Net Present Value)為基礎之評估方式，無法將ERP此一可遞延之特性納入考慮，致使組織評估ERP投資時無法反應出真正的價值。選擇權理論為一針對管理彈性，強調在不確定性下的投資評估方法。本文以選擇權理論觀點納入此－ERP投資特性以評估ERP投資。結果顯示，選擇權理論與以往使用之淨現值法所得到之評估結果存在很大差異，而此差異來自於ERP投資所具有且向來被忽略之管理彈性。
關鍵字: 不確定性;企業資源規劃;投資評估;選擇權理論;
Abstract: ERP investments are costly, lengthy, and risky, replete with complex organizational factors such as initially unknown requirements, unexpected user adoption contingencies, and rapidly changing IT environments. Previous knowledge reveals that the ERP investment is a phased process. Companies do not invest all their resources until the pre-investment phase is finished. To justify ERP investments, it is necessary to consider the value of this deferral option value under uncertainty. Traditional ERP evaluation methods such as NPV, require a ”now-or-never” decision, which does not take this managerial flexibility into account; thus important opportunities may be missed. Given this background, we view ERP investments from a deferral options perspective, rather than as ”now-or-never events”. Our contribution is twofold. 1) We evaluate costly and risky ERP investments under uncertainty. 2) We investigate the value of managerial flexibility offered by the deferral option, which is the unique feature in the pre-investment phase of an ERP investment.
Keywords: ERP investment;evaluation;options;uncertainties;
瀏覽次數: 9486 下載次數: 152
引用 導入Endnote
頁: 1-16
日期: 2006/10
摘要: 企業資源規劃系統(ERP)乃一昂貴、費時，且牽涉許多不確定因素之投資。ERP系統與其他資訊系統投資之不同處，在於其特有之可遞延投資前階段(deferrable pre-investment phase)。以往以淨現值法(Net Present Value)為基礎之評估方式，無法將ERP此一可遞延之特性納入考慮，致使組織評估ERP投資時無法反應出真正的價值。選擇權理論為一針對管理彈性，強調在不確定性下的投資評估方法。本文以選擇權理論觀點納入此－ERP投資特性以評估ERP投資。結果顯示，選擇權理論與以往使用之淨現值法所得到之評估結果存在很大差異，而此差異來自於ERP投資所具有且向來被忽略之管理彈性。
關鍵字: 不確定性;企業資源規劃;投資評估;選擇權理論;
ERP投資評估－以實質選擇權理論為基礎
Abstract: ERP investments are costly, lengthy, and risky, replete with complex organizational factors such as initially unknown requirements, unexpected user adoption contingencies, and rapidly changing IT environments. Previous knowledge reveals that the ERP investment is a phased process. Companies do not invest all their resources until the pre-investment phase is finished. To justify ERP investments, it is necessary to consider the value of this deferral option value under uncertainty. Traditional ERP evaluation methods such as NPV, require a ”now-or-never” decision, which does not take this managerial flexibility into account; thus important opportunities may be missed. Given this background, we view ERP investments from a deferral options perspective, rather than as ”now-or-never events”. Our contribution is twofold. 1) We evaluate costly and risky ERP investments under uncertainty. 2) We investigate the value of managerial flexibility offered by the deferral option, which is the unique feature in the pre-investment phase of an ERP investment.
Keywords: ERP investment;evaluation;options;uncertainties;
瀏覽次數: 9486 下載次數: 152
引用 導入Endnote