Tham khảo tài liệu 'mechatronic systems applications part 14', kỹ thuật - công nghệ, cơ khí - chế tạo máy phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Advanced Manufacturing Technology Projects Justification 325 models involving various weights of individual factors are rather vulnerable to bias brought along with subjective judgments. The strategic justification approaches tend to be less technical that economic and analytic methods but it should be stressed that they are quite often used in combination with them. The main advantage of the strategic approaches is their direct linkage to the goals of the company. Criteria such as meeting the business objectives comparison with competitors the retention or attainment of competitive advantage and industry leadership might be utilized as suitable factors for the relevant decision making processes where AMT projects are scrutinized. Of course it would be unwise to assign too much importance to strategic justification methods and to overlook the economic and tactical impact of the project. That is why recent studies have promoted hybrid approaches based on suitable combination of economic analytic and strategic appraisal techniques see Raafat 2002 . We will focus on the economic justification techniques in the rest of this chapter. These techniques seem to be widely used in manufacturing companies worldwide when the decision concerning AMT investments should be made. It is quite natural because the cost of such project is usually well known although it could be very easily underestimated too and it is necessary to cover the cost by relevant revenues and various benefits. We will show some typical problems related to the utilization of economic justification techniques and we would like to stress that some researchers have even claimed that these techniques are inappropriate for evaluating AMT projects Bucher Lee 2000 . 3. Literature review There are many interesting papers describing various issues of AMT projects justification from different points of view. Perhaps the easiest way to get quickly oriented in the field is to start with a comprehensive bibliography on .
