Volume 55, 2021Regular articles published in advance of the transition of the journal to Subscribe to Open (S2O). Free supplement sponsored by the Fonds National pour la Science Ouverte
|Page(s)||S1487 - S1513|
|Published online||02 March 2021|
A technology portfolio optimization model considering staged financing and moratorium period under uncertainty
School of Progress Engineering, Iran University of Science and Technology, Tehran, Iran
2 School of Industrial Engineering, Iran University of Science and Technology, Tehran, Iran
* Corresponding author: email@example.com
Accepted: 4 April 2020
Technology commercialization needs a large amount of financial resources and governments in developed and developing countries play a critical role in resource allocation to the technology commercialization, especially through “Technology Development Funds (TDFs)”. But, because of resource limitations, determining high priority technologies with higher impact on the country’s innovative performance and the optimal resource allocation to technology development is very important for science and technology policymakers. “Technology portfolio planning” has been developed and applied in this regard. Accordingly, a two-phase decision-making framework has been proposed. At the first phase, the priorities of technology fields are determined by using the best-worst method (BWM) and at the second phase, a two-stage stochastic technology portfolio planning model is developed by considering technological projects’ risks and export market, as one of the important factor in the “Global Innovation Index” (GII) ranking. It also has been considered technology fields’ priorities, staged-financing, moratorium period, reinvestment strategy, and technology readiness levels (TRL) in allocating financial resources to technological projects The main advantages of our proposed model are considering uncertainty and early signaling about under performing technological projects Due to the uncertain nature of the problem, our solution methodology is based on the Sample Average Approximation (SAA). In order to demonstrate the applicability of this model, a real case study and its computational results are presented.
Mathematics Subject Classification: 90B50 / 90C90
Key words: Technology portfolio optimization / Staged financing / Moratorium period / Stochastic model / Sample average approximation (SAA)
© EDP Sciences, ROADEF, SMAI 2021
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.