[{"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","keyword":["Business and International Management","Strategy and Management"],"language":[{"iso":"eng"}],"year":"2023","issue":"10","title":"A new strategic approach for R&D project portfolio selection using efficiency-uncertainty maps","publisher":"Emerald","date_created":"2024-04-04T14:03:24Z","status":"public","type":"journal_article","_id":"53232","department":[{"_id":"277"}],"user_id":"51811","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>","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>.","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>.","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>","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>.","short":"M. Namazi, M. Tavana, E. Mohammadi, A. Bonyadi Naeini, Benchmarking: An International Journal 30 (2023) 4193–4220.","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} }"},"publication_identifier":{"issn":["1463-5771"]},"publication_status":"published","doi":"10.1108/bij-02-2022-0129","date_updated":"2024-05-28T09:31:36Z","volume":30,"author":[{"full_name":"Namazi, Mehdi","last_name":"Namazi","first_name":"Mehdi"},{"id":"31858","full_name":"Tavana, Madjid","last_name":"Tavana","first_name":"Madjid"},{"full_name":"Mohammadi, Emran","last_name":"Mohammadi","first_name":"Emran"},{"full_name":"Bonyadi Naeini, Ali","last_name":"Bonyadi Naeini","first_name":"Ali"}]}]