[{"title":"A new strategic approach for R&D project portfolio selection using efficiency-uncertainty maps","publisher":"Emerald","date_created":"2024-04-04T14:03:24Z","year":"2023","issue":"10","keyword":["Business and International Management","Strategy and Management"],"language":[{"iso":"eng"}],"abstract":[{"text":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose</jats:title><jats:p>New business practices and the globalization of markets force firms to take innovation as the fundamental pillar of their competitive strategy. Research and Development (R&amp;D) plays a vital role in innovation. As technology advances and product life cycles become shorter, firms rely on R&amp;D as a strategy to invigorate innovation. R&amp;D project portfolio selection is a complex and challenging task. Despite the management's efforts to implement the best project portfolio selection practices, many projects continue to fail or miss their target. The problem is that selecting R&amp;D projects requires a deep understanding of strategic vision and technical capabilities. However, many decision-makers lack technological insight or strategic vision. This article aims to provide a method to capitalize on the expertise of R&amp;D professionals to assist managers in making informed and effective decisions. It also provides a framework for aligning the portfolio of R&amp;D projects with the organizational vision and mission.</jats:p></jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design/methodology/approach</jats:title><jats:p>This article proposes a new strategic approach for R&amp;D project portfolio selection using efficiency-uncertainty maps.</jats:p></jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings</jats:title><jats:p>The proposed strategy plane helps decision-makers align R&amp;D project portfolios with their strategies to combine a strategic view and numerical analysis in this research. The proposed strategy plane consists of four areas: Exploitation Zone, Challenge Zone, Desperation Zone and Discretion Zone. Mapping the project into this strategic plane would help decision-makers align their project portfolio according to the corporate perspectives.</jats:p></jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality/value</jats:title><jats:p>The new approach combines the efficiency and uncertainty dimensions in portfolio selection into an integrated framework that: (i) provides a complete representation of the stochastic decision-making processes, (ii) models the endogenous uncertainty inherent in the project selection process and (iii) proposes a computationally practical and visually unique solution procedure for classifying desirable and undesirable R&amp;D projects.</jats:p></jats:sec>","lang":"eng"}],"publication":"Benchmarking: An International Journal","doi":"10.1108/bij-02-2022-0129","date_updated":"2024-05-28T09:31:36Z","volume":30,"author":[{"first_name":"Mehdi","last_name":"Namazi","full_name":"Namazi, Mehdi"},{"first_name":"Madjid","id":"31858","full_name":"Tavana, Madjid","last_name":"Tavana"},{"first_name":"Emran","last_name":"Mohammadi","full_name":"Mohammadi, Emran"},{"last_name":"Bonyadi Naeini","full_name":"Bonyadi Naeini, Ali","first_name":"Ali"}],"page":"4193-4220","intvolume":"        30","citation":{"ama":"Namazi M, Tavana M, Mohammadi E, Bonyadi Naeini A. A new strategic approach for R&#38;D project portfolio selection using efficiency-uncertainty maps. <i>Benchmarking: An International Journal</i>. 2023;30(10):4193-4220. doi:<a href=\"https://doi.org/10.1108/bij-02-2022-0129\">10.1108/bij-02-2022-0129</a>","ieee":"M. Namazi, M. Tavana, E. Mohammadi, and A. Bonyadi Naeini, “A new strategic approach for R&#38;D project portfolio selection using efficiency-uncertainty maps,” <i>Benchmarking: An International Journal</i>, vol. 30, no. 10, pp. 4193–4220, 2023, doi: <a href=\"https://doi.org/10.1108/bij-02-2022-0129\">10.1108/bij-02-2022-0129</a>.","chicago":"Namazi, Mehdi, Madjid Tavana, Emran Mohammadi, and Ali Bonyadi Naeini. “A New Strategic Approach for R&#38;D Project Portfolio Selection Using Efficiency-Uncertainty Maps.” <i>Benchmarking: An International Journal</i> 30, no. 10 (2023): 4193–4220. <a href=\"https://doi.org/10.1108/bij-02-2022-0129\">https://doi.org/10.1108/bij-02-2022-0129</a>.","apa":"Namazi, M., Tavana, M., Mohammadi, E., &#38; Bonyadi Naeini, A. (2023). A new strategic approach for R&#38;D project portfolio selection using efficiency-uncertainty maps. <i>Benchmarking: An International Journal</i>, <i>30</i>(10), 4193–4220. <a href=\"https://doi.org/10.1108/bij-02-2022-0129\">https://doi.org/10.1108/bij-02-2022-0129</a>","bibtex":"@article{Namazi_Tavana_Mohammadi_Bonyadi Naeini_2023, title={A new strategic approach for R&#38;D project portfolio selection using efficiency-uncertainty maps}, volume={30}, DOI={<a href=\"https://doi.org/10.1108/bij-02-2022-0129\">10.1108/bij-02-2022-0129</a>}, number={10}, journal={Benchmarking: An International Journal}, publisher={Emerald}, author={Namazi, Mehdi and Tavana, Madjid and Mohammadi, Emran and Bonyadi Naeini, Ali}, year={2023}, pages={4193–4220} }","short":"M. Namazi, M. Tavana, E. Mohammadi, A. Bonyadi Naeini, Benchmarking: An International Journal 30 (2023) 4193–4220.","mla":"Namazi, Mehdi, et al. “A New Strategic Approach for R&#38;D Project Portfolio Selection Using Efficiency-Uncertainty Maps.” <i>Benchmarking: An International Journal</i>, vol. 30, no. 10, Emerald, 2023, pp. 4193–220, doi:<a href=\"https://doi.org/10.1108/bij-02-2022-0129\">10.1108/bij-02-2022-0129</a>."},"publication_identifier":{"issn":["1463-5771"]},"publication_status":"published","_id":"53232","department":[{"_id":"277"}],"user_id":"51811","status":"public","type":"journal_article"},{"issue":"6","publication_status":"published","publication_identifier":{"issn":["1463-5771"]},"citation":{"short":"M.A. Kaviani, M. Tavana, F. Kowsari, R. Rezapour, Benchmarking: An International Journal 27 (2020) 1929–1949.","mla":"Kaviani, Mohamad Amin, et al. “Supply Chain Resilience: A Benchmarking Model for Vulnerability and Capability Assessment in the Automotive Industry.” <i>Benchmarking: An International Journal</i>, vol. 27, no. 6, Emerald, 2020, pp. 1929–49, doi:<a href=\"https://doi.org/10.1108/bij-01-2020-0049\">10.1108/bij-01-2020-0049</a>.","bibtex":"@article{Kaviani_Tavana_Kowsari_Rezapour_2020, title={Supply chain resilience: a benchmarking model for vulnerability and capability assessment in the automotive industry}, volume={27}, DOI={<a href=\"https://doi.org/10.1108/bij-01-2020-0049\">10.1108/bij-01-2020-0049</a>}, number={6}, journal={Benchmarking: An International Journal}, publisher={Emerald}, author={Kaviani, Mohamad Amin and Tavana, Madjid and Kowsari, Fatemeh and Rezapour, Roghayeh}, year={2020}, pages={1929–1949} }","apa":"Kaviani, M. A., Tavana, M., Kowsari, F., &#38; Rezapour, R. (2020). Supply chain resilience: a benchmarking model for vulnerability and capability assessment in the automotive industry. <i>Benchmarking: An International Journal</i>, <i>27</i>(6), 1929–1949. <a href=\"https://doi.org/10.1108/bij-01-2020-0049\">https://doi.org/10.1108/bij-01-2020-0049</a>","ama":"Kaviani MA, Tavana M, Kowsari F, Rezapour R. Supply chain resilience: a benchmarking model for vulnerability and capability assessment in the automotive industry. <i>Benchmarking: An International Journal</i>. 2020;27(6):1929-1949. doi:<a href=\"https://doi.org/10.1108/bij-01-2020-0049\">10.1108/bij-01-2020-0049</a>","ieee":"M. A. Kaviani, M. Tavana, F. Kowsari, and R. Rezapour, “Supply chain resilience: a benchmarking model for vulnerability and capability assessment in the automotive industry,” <i>Benchmarking: An International Journal</i>, vol. 27, no. 6, pp. 1929–1949, 2020, doi: <a href=\"https://doi.org/10.1108/bij-01-2020-0049\">10.1108/bij-01-2020-0049</a>.","chicago":"Kaviani, Mohamad Amin, Madjid Tavana, Fatemeh Kowsari, and Roghayeh Rezapour. “Supply Chain Resilience: A Benchmarking Model for Vulnerability and Capability Assessment in the Automotive Industry.” <i>Benchmarking: An International Journal</i> 27, no. 6 (2020): 1929–49. <a href=\"https://doi.org/10.1108/bij-01-2020-0049\">https://doi.org/10.1108/bij-01-2020-0049</a>."},"page":"1929-1949","intvolume":"        27","year":"2020","date_created":"2024-05-04T15:54:26Z","author":[{"first_name":"Mohamad Amin","last_name":"Kaviani","full_name":"Kaviani, Mohamad Amin"},{"first_name":"Madjid","last_name":"Tavana","full_name":"Tavana, Madjid","id":"31858"},{"first_name":"Fatemeh","last_name":"Kowsari","full_name":"Kowsari, Fatemeh"},{"first_name":"Roghayeh","last_name":"Rezapour","full_name":"Rezapour, Roghayeh"}],"volume":27,"date_updated":"2024-05-04T15:56:56Z","publisher":"Emerald","doi":"10.1108/bij-01-2020-0049","title":"Supply chain resilience: a benchmarking model for vulnerability and capability assessment in the automotive industry","type":"journal_article","publication":"Benchmarking: An International Journal","status":"public","user_id":"51811","department":[{"_id":"277"}],"_id":"53904","language":[{"iso":"eng"}]},{"publisher":"Emerald","date_updated":"2024-05-04T15:57:03Z","volume":27,"date_created":"2024-05-04T15:51:45Z","author":[{"first_name":"Madjid","last_name":"Tavana","id":"31858","full_name":"Tavana, Madjid"},{"full_name":"Hajipour, Vahid","last_name":"Hajipour","first_name":"Vahid"}],"title":"A practical review and taxonomy of fuzzy expert systems: methods and applications","doi":"10.1108/bij-04-2019-0178","publication_identifier":{"issn":["1463-5771"]},"publication_status":"published","issue":"1","year":"2020","intvolume":"        27","page":"81-136","citation":{"mla":"Tavana, Madjid, and Vahid Hajipour. “A Practical Review and Taxonomy of Fuzzy Expert Systems: Methods and Applications.” <i>Benchmarking: An International Journal</i>, vol. 27, no. 1, Emerald, 2020, pp. 81–136, doi:<a href=\"https://doi.org/10.1108/bij-04-2019-0178\">10.1108/bij-04-2019-0178</a>.","bibtex":"@article{Tavana_Hajipour_2020, title={A practical review and taxonomy of fuzzy expert systems: methods and applications}, volume={27}, DOI={<a href=\"https://doi.org/10.1108/bij-04-2019-0178\">10.1108/bij-04-2019-0178</a>}, number={1}, journal={Benchmarking: An International Journal}, publisher={Emerald}, author={Tavana, Madjid and Hajipour, Vahid}, year={2020}, pages={81–136} }","short":"M. Tavana, V. Hajipour, Benchmarking: An International Journal 27 (2020) 81–136.","apa":"Tavana, M., &#38; Hajipour, V. (2020). A practical review and taxonomy of fuzzy expert systems: methods and applications. <i>Benchmarking: An International Journal</i>, <i>27</i>(1), 81–136. <a href=\"https://doi.org/10.1108/bij-04-2019-0178\">https://doi.org/10.1108/bij-04-2019-0178</a>","ama":"Tavana M, Hajipour V. A practical review and taxonomy of fuzzy expert systems: methods and applications. <i>Benchmarking: An International Journal</i>. 2020;27(1):81-136. doi:<a href=\"https://doi.org/10.1108/bij-04-2019-0178\">10.1108/bij-04-2019-0178</a>","ieee":"M. Tavana and V. Hajipour, “A practical review and taxonomy of fuzzy expert systems: methods and applications,” <i>Benchmarking: An International Journal</i>, vol. 27, no. 1, pp. 81–136, 2020, doi: <a href=\"https://doi.org/10.1108/bij-04-2019-0178\">10.1108/bij-04-2019-0178</a>.","chicago":"Tavana, Madjid, and Vahid Hajipour. “A Practical Review and Taxonomy of Fuzzy Expert Systems: Methods and Applications.” <i>Benchmarking: An International Journal</i> 27, no. 1 (2020): 81–136. <a href=\"https://doi.org/10.1108/bij-04-2019-0178\">https://doi.org/10.1108/bij-04-2019-0178</a>."},"_id":"53901","department":[{"_id":"277"}],"user_id":"51811","language":[{"iso":"eng"}],"publication":"Benchmarking: An International Journal","type":"journal_article","status":"public"},{"intvolume":"        23","page":"937-982","citation":{"ieee":"D. Di Caprio, F. J. Santos-Arteaga, and M. Tavana, “An optimal sequential information acquisition model subject to a heuristic assimilation constraint,” <i>Benchmarking: An International Journal</i>, vol. 23, no. 4, pp. 937–982, 2016, doi: <a href=\"https://doi.org/10.1108/bij-01-2014-0008\">10.1108/bij-01-2014-0008</a>.","chicago":"Di Caprio, Debora, Francisco J. Santos-Arteaga, and Madjid Tavana. “An Optimal Sequential Information Acquisition Model Subject to a Heuristic Assimilation Constraint.” <i>Benchmarking: An International Journal</i> 23, no. 4 (2016): 937–82. <a href=\"https://doi.org/10.1108/bij-01-2014-0008\">https://doi.org/10.1108/bij-01-2014-0008</a>.","ama":"Di Caprio D, Santos-Arteaga FJ, Tavana M. An optimal sequential information acquisition model subject to a heuristic assimilation constraint. <i>Benchmarking: An International Journal</i>. 2016;23(4):937-982. doi:<a href=\"https://doi.org/10.1108/bij-01-2014-0008\">10.1108/bij-01-2014-0008</a>","apa":"Di Caprio, D., Santos-Arteaga, F. J., &#38; Tavana, M. (2016). An optimal sequential information acquisition model subject to a heuristic assimilation constraint. <i>Benchmarking: An International Journal</i>, <i>23</i>(4), 937–982. <a href=\"https://doi.org/10.1108/bij-01-2014-0008\">https://doi.org/10.1108/bij-01-2014-0008</a>","mla":"Di Caprio, Debora, et al. “An Optimal Sequential Information Acquisition Model Subject to a Heuristic Assimilation Constraint.” <i>Benchmarking: An International Journal</i>, vol. 23, no. 4, Emerald, 2016, pp. 937–82, doi:<a href=\"https://doi.org/10.1108/bij-01-2014-0008\">10.1108/bij-01-2014-0008</a>.","bibtex":"@article{Di Caprio_Santos-Arteaga_Tavana_2016, title={An optimal sequential information acquisition model subject to a heuristic assimilation constraint}, volume={23}, DOI={<a href=\"https://doi.org/10.1108/bij-01-2014-0008\">10.1108/bij-01-2014-0008</a>}, number={4}, journal={Benchmarking: An International Journal}, publisher={Emerald}, author={Di Caprio, Debora and Santos-Arteaga, Francisco J. and Tavana, Madjid}, year={2016}, pages={937–982} }","short":"D. Di Caprio, F.J. Santos-Arteaga, M. Tavana, Benchmarking: An International Journal 23 (2016) 937–982."},"year":"2016","issue":"4","publication_identifier":{"issn":["1463-5771"]},"publication_status":"published","doi":"10.1108/bij-01-2014-0008","title":"An optimal sequential information acquisition model subject to a heuristic assimilation constraint","volume":23,"author":[{"full_name":"Di Caprio, Debora","last_name":"Di Caprio","first_name":"Debora"},{"first_name":"Francisco J.","full_name":"Santos-Arteaga, Francisco J.","last_name":"Santos-Arteaga"},{"id":"31858","full_name":"Tavana, Madjid","last_name":"Tavana","first_name":"Madjid"}],"date_created":"2024-05-11T11:46:13Z","date_updated":"2024-05-11T11:51:54Z","publisher":"Emerald","status":"public","publication":"Benchmarking: An International Journal","type":"journal_article","language":[{"iso":"eng"}],"department":[{"_id":"277"}],"user_id":"51811","_id":"54175"}]