A Novel Hybrid Approach for Technology Selection in the Information Technology Industry

Nima Mokhtarzadeh, Hannan Amoozad Mahdiraji, Moein Beheshti, Edmundas Kazimieras Zavadskas

Research output: Contribution to journalArticle

Abstract

High-tech companies are rapidly growing in the world. Research and development (hereafter R&D) department strength is the main asset that allows a firm to achieve a competitive advantage in high-tech businesses. The allocated budget to this sector is finite; thus, integration, human resource, risk and budget limitations should be considered to choose the most valuable project in the best portion of time. This paper investigates a case study from a high-tech company in Iran to prioritize the most attractive technologies for the R&D department. The case consists of twenty three technology options and the goal is to find the most attractive projects to sort them out for implementation in the R&D department. In this research, scholars proposed the best–worst method (henceforth BWM) to find the weight of the criteria of the attractive technologies in first step and utilize the newly developed method total area based on orthogonal vectors (henceforward TAOV) to sort the selected technologies based upon the identified criteria. Project integration is one of the least-noticed subjects in scientific papers; therefore, the researchers presented a zero or one linear programming (ZOLP) model to optimize and schedule the implementation procedure on the project risk, budget and time limitation simultaneously. The results indicate that starting few but attractive projects in the first years and postponing the rest to the future, helps a firm to manage funds and gain profit with the least amount of risk.
Original languageEnglish
Number of pages17
JournalTechnologies
Volume6
Issue number1
DOIs
Publication statusPublished - 16 Mar 2018
Externally publishedYes

Fingerprint

Industry
Hybrid approach
Technology selection
High-tech companies
Iran
Assets
Schedule
Competitive advantage
High-tech
Linear programming
Profit
Human resources

Bibliographical note

This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution
(CC BY) license (http://creativecommons.org/licenses/by/4.0/

Cite this

A Novel Hybrid Approach for Technology Selection in the Information Technology Industry. / Mokhtarzadeh, Nima; Amoozad Mahdiraji, Hannan; Beheshti, Moein; Zavadskas, Edmundas Kazimieras.

In: Technologies, Vol. 6, No. 1, 16.03.2018.

Research output: Contribution to journalArticle

Mokhtarzadeh, Nima ; Amoozad Mahdiraji, Hannan ; Beheshti, Moein ; Zavadskas, Edmundas Kazimieras. / A Novel Hybrid Approach for Technology Selection in the Information Technology Industry. In: Technologies. 2018 ; Vol. 6, No. 1.
@article{c43f7d62dafb429d90c8e89a975e47ed,
title = "A Novel Hybrid Approach for Technology Selection in the Information Technology Industry",
abstract = "High-tech companies are rapidly growing in the world. Research and development (hereafter R&D) department strength is the main asset that allows a firm to achieve a competitive advantage in high-tech businesses. The allocated budget to this sector is finite; thus, integration, human resource, risk and budget limitations should be considered to choose the most valuable project in the best portion of time. This paper investigates a case study from a high-tech company in Iran to prioritize the most attractive technologies for the R&D department. The case consists of twenty three technology options and the goal is to find the most attractive projects to sort them out for implementation in the R&D department. In this research, scholars proposed the best–worst method (henceforth BWM) to find the weight of the criteria of the attractive technologies in first step and utilize the newly developed method total area based on orthogonal vectors (henceforward TAOV) to sort the selected technologies based upon the identified criteria. Project integration is one of the least-noticed subjects in scientific papers; therefore, the researchers presented a zero or one linear programming (ZOLP) model to optimize and schedule the implementation procedure on the project risk, budget and time limitation simultaneously. The results indicate that starting few but attractive projects in the first years and postponing the rest to the future, helps a firm to manage funds and gain profit with the least amount of risk.",
author = "Nima Mokhtarzadeh and {Amoozad Mahdiraji}, Hannan and Moein Beheshti and Zavadskas, {Edmundas Kazimieras}",
note = "This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/",
year = "2018",
month = "3",
day = "16",
doi = "10.3390/technologies6010034",
language = "English",
volume = "6",
journal = "Technologies",
issn = "2227-7080",
publisher = "MDPI",
number = "1",

}

TY - JOUR

T1 - A Novel Hybrid Approach for Technology Selection in the Information Technology Industry

AU - Mokhtarzadeh, Nima

AU - Amoozad Mahdiraji, Hannan

AU - Beheshti, Moein

AU - Zavadskas, Edmundas Kazimieras

N1 - This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/

PY - 2018/3/16

Y1 - 2018/3/16

N2 - High-tech companies are rapidly growing in the world. Research and development (hereafter R&D) department strength is the main asset that allows a firm to achieve a competitive advantage in high-tech businesses. The allocated budget to this sector is finite; thus, integration, human resource, risk and budget limitations should be considered to choose the most valuable project in the best portion of time. This paper investigates a case study from a high-tech company in Iran to prioritize the most attractive technologies for the R&D department. The case consists of twenty three technology options and the goal is to find the most attractive projects to sort them out for implementation in the R&D department. In this research, scholars proposed the best–worst method (henceforth BWM) to find the weight of the criteria of the attractive technologies in first step and utilize the newly developed method total area based on orthogonal vectors (henceforward TAOV) to sort the selected technologies based upon the identified criteria. Project integration is one of the least-noticed subjects in scientific papers; therefore, the researchers presented a zero or one linear programming (ZOLP) model to optimize and schedule the implementation procedure on the project risk, budget and time limitation simultaneously. The results indicate that starting few but attractive projects in the first years and postponing the rest to the future, helps a firm to manage funds and gain profit with the least amount of risk.

AB - High-tech companies are rapidly growing in the world. Research and development (hereafter R&D) department strength is the main asset that allows a firm to achieve a competitive advantage in high-tech businesses. The allocated budget to this sector is finite; thus, integration, human resource, risk and budget limitations should be considered to choose the most valuable project in the best portion of time. This paper investigates a case study from a high-tech company in Iran to prioritize the most attractive technologies for the R&D department. The case consists of twenty three technology options and the goal is to find the most attractive projects to sort them out for implementation in the R&D department. In this research, scholars proposed the best–worst method (henceforth BWM) to find the weight of the criteria of the attractive technologies in first step and utilize the newly developed method total area based on orthogonal vectors (henceforward TAOV) to sort the selected technologies based upon the identified criteria. Project integration is one of the least-noticed subjects in scientific papers; therefore, the researchers presented a zero or one linear programming (ZOLP) model to optimize and schedule the implementation procedure on the project risk, budget and time limitation simultaneously. The results indicate that starting few but attractive projects in the first years and postponing the rest to the future, helps a firm to manage funds and gain profit with the least amount of risk.

U2 - 10.3390/technologies6010034

DO - 10.3390/technologies6010034

M3 - Article

VL - 6

JO - Technologies

JF - Technologies

SN - 2227-7080

IS - 1

ER -