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Technologies 2018, 6(1), 34; doi:10.3390/technologies6010034

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

1
Faculty of Management, University of Tehran, Tehran 1417614418, Iran
2
Department of Management, University of Tehran, Kish International Campus, Kish 7941655655, Iran
3
Faculty of Civil Engineering, Vilnius Gediminas Technical University, Vilnius 10223, Lithuania
*
Author to whom correspondence should be addressed.
Received: 30 January 2018 / Revised: 12 March 2018 / Accepted: 14 March 2018 / Published: 16 March 2018
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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. View Full-Text
Keywords: technology selection; best–worst method; total area based on orthogonal vectors; optimization; binary programming; zero or one linear programming (ZOLP) technology selection; best–worst method; total area based on orthogonal vectors; optimization; binary programming; zero or one linear programming (ZOLP)
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Mokhtarzadeh, N.G.; Mahdiraji, H.A.; Beheshti, M.; Zavadskas, E.K. A Novel Hybrid Approach for Technology Selection in the Information Technology Industry. Technologies 2018, 6, 34.

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