How would you decide between doing project (a) this quarter, or project (b)?
If you cannot (or refuse to) estimate cost or probability of success in a timebox you have no way to figure out ROI.
To rationally allocate money to something, someone has to do the estimate.
The exact same way you'd treat any other investment decision.
In the real world, if you've got $100k, you could choose to invest all of it into project A, or all into project B, or perhaps start both and kill whichever one isn't looking promising.
You'd need to weigh that against the potential returns you'd get from investing all or part of that money into equities, bonds, or just keeping it in cash.