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