The process of selecting technology development projects : a practical framework

In this article a practical framework is proposed, that can be used to organise the activities related to the selection-process of technology development projects. The framework is based upon recent literature and application at DAF Trucks Company. A technology development project has a long way to go, before it contributes to the productivity of the company. This long lead-time causes uncertainties and risks. Changes in market-preferences and upcoming alternative technologies can prematurely make the developing technology become obsolete. In order to reduce the uncertainties and risks, the main technology opportunities and threats need to be identified as early as possible and submitted to a validation process. The technology opportunities and threats then have to be moulded into well-defined project-propositions. Out of the project-propositions those projects should be selected that will best meet the long-term objectives of the company. This paper is intended to be used as a reference for companies whowant to improve their technology development selection process