Technology Selection Using the TOPSIS Method

Katarzyna Halicka ()
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Katarzyna Halicka: Bialystok University of Technology (Poland)

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2020, vol. 14, issue 1, 85-96

Abstract: Innovative technologies are increasingly determining the competitive advantage of enterprises. They also form the basis for modern manufacturing processes, enabling them to meet the needs of society. Awareness of the need for technological development has become widespread, which has been confirmed by international and national programs, scientific and research activities, as well as emerging institutions. Considering the increasing demand for innovative technologies and the developed market, it appears important to use specific methods and tools for the effective analysis and selection of technologies. This paper presents a proposal to use multi-attribute decision-making methods during technology assessment and selection. The proposed concept combines an S-life-cycle analysis (S-LCA), which determines the performance of a technology, the method of Technology Readiness Levels (TRL), which examines the technological maturity, and the TOPSIS method, which allows for developing a technology ranking. To verify this approach, the example of a ranking and selection of the best road technology in Poland is presented, considering the proposed set of criteria and sub-criteria. In the technology assessment, the criteria for innovation, competitiveness, and usefulness of this technology were used in addition to S-LSA and TRL methods.

Keywords: technology; innovation; technology selection; technology assessment; technology readiness levels; TOPSIS; Multi-Attribute Decision-Making methods (search for similar items in EconPapers)
JEL-codes: O32 O33 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (6)

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