Impact assessment based sectoral balancing in public r&d project portfolio selection problem

2017-09-08
Government funding agencies provide considerable amount of R&D funds through funding programs. While constructing R&D project portfolio, Decision Maker (DM) wants to balance program budget over sectors or scientific disciplines. Existing approaches in the literature assume budget share of each sector is known at the beginning. However, in practice, the DM wants to decide on sectoral budgets. In this study, we incorporate results of so-called "sectoral impact assessments" into public R&D project portfolio selection decisions. We develop a two-stage model. In the first stage, the DM deals with sectoral budget decisions to maximize the total impact of the budget while ensuring relative sectoral budget balances. In the second stage, the DM wants to maximize the total score of supported projects under allocated sectoral budgets. We illustrate proposed approach on an example problem. We show the value of the proposed approach by comparing it with alternative policy options to give managerial insights to the DM.

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Citation Formats
S. Gürel, “Impact assessment based sectoral balancing in public r&d project portfolio selection problem,” Berlin, Germany, 2017, p. 62, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/87879.