IDEAS home Printed from https://ideas.repec.org/a/eee/tefoso/v180y2022ics0040162522002141.html
   My bibliography  Save this article

Exploring the structures and design effects of EU-funded R&D&I project portfolios

Author

Listed:
  • Kosztyán, Zsolt T.
  • Katona, Attila I.
  • Kuppens, Kurt
  • Kisgyörgy-Pál, Mária
  • Nachbagauer, Andreas
  • Csizmadia, Tibor

Abstract

Joint R&D&I projects and programs increase performance but entail project-related risks; namely, concurrent projects may share resources, delays may be inherited by later projects, and costs may overrun. With a project portfolio, one can better plan budgets, timelines, and risks, manage the resource-sharing of parallel projects, and map content-related projects as one program. However, large (publicly funded) research programs are rarely designed and managed as portfolios. This paper discerns the structure of the European Union-funded 7th Framework Program from a project management perspective. The proposed method estimates the structure based on the content, collaboration, and duration, which enables very accurate mapping of a naturally evolved, unstructured portfolio using limited publicly available data. We tested the sensitivity of overruns/delays, relative costs, and outputs to changes in the distribution of single projects, multi-projects, and programs. The results indicate that supporting programs leads to an improvement in performance, while the duration increases only slightly. The relative costs and output can be improved by moderately increasing the proportion of multi-projects and programs without the risk of overrun or delay. Although we used data from an unstructured portfolio, we believe that the results are valid for R&D&I portfolios in general. To address research policy, we suggest that understanding framework programs as portfolios of projects and managing their structure support collaboration and increase output with only a marginal impact on the cost and duration.

Suggested Citation

  • Kosztyán, Zsolt T. & Katona, Attila I. & Kuppens, Kurt & Kisgyörgy-Pál, Mária & Nachbagauer, Andreas & Csizmadia, Tibor, 2022. "Exploring the structures and design effects of EU-funded R&D&I project portfolios," Technological Forecasting and Social Change, Elsevier, vol. 180(C).
    • Handle: RePEc:eee:tefoso:v:180:y:2022:i:c:s0040162522002141
    DOI: 10.1016/j.techfore.2022.121687
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0040162522002141
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.techfore.2022.121687?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Victor Chang & Lihao Ni & Jingqi Zhang & Taiyu Li, 2020. "The current trends and overview for portfolio management," International Journal of Business and Systems Research, Inderscience Enterprises Ltd, vol. 14(4), pages 434-454.
    2. Ugur Muldur & Fabienne Corvers & Henri Delanghe & Jim Dratwa & Daniela Heimberger & Brian Sloan & Sandrijn Vanslembrouck, 2006. "A New Deal for an Effective European Research Policy," Springer Books, Springer, number 978-1-4020-5551-5, November.
    3. Rank, Olaf N., 2008. "Formal structures and informal networks: Structural analysis in organizations," Scandinavian Journal of Management, Elsevier, vol. 24(2), pages 145-161, June.
    4. Hoekman, Jarno & Frenken, Koen & Tijssen, Robert J.W., 2010. "Research collaboration at a distance: Changing spatial patterns of scientific collaboration within Europe," Research Policy, Elsevier, vol. 39(5), pages 662-673, June.
    5. Georghiou, Luke, 2001. "Evolving frameworks for European collaboration in research and technology," Research Policy, Elsevier, vol. 30(6), pages 891-903, June.
    6. Liesiö, Juuso & Punkka, Antti, 2014. "Baseline value specification and sensitivity analysis in multiattribute project portfolio selection," European Journal of Operational Research, Elsevier, vol. 237(3), pages 946-956.
    7. Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, March.
    8. Aimilia Protogerou & Yannis Caloghirou & Evangelos Siokas, 2013. "Twenty-five years of science-industry collaboration: the emergence and evolution of policy-driven research networks across Europe," The Journal of Technology Transfer, Springer, vol. 38(6), pages 873-895, December.
    9. Rodríguez, Hannot & Fisher, Erik & Schuurbiers, Daan, 2013. "Integrating science and society in European Framework Programmes: Trends in project-level solicitations," Research Policy, Elsevier, vol. 42(5), pages 1126-1137.
    10. Tamás Sebestyén & Attila Varga, 2013. "Research productivity and the quality of interregional knowledge networks," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 51(1), pages 155-189, August.
    11. Madsen, Emil Bargmann & Aagaard, Kaare, 2020. "Concentration of Danish research funding on individual researchers and research topics: Patterns and potential drivers," SocArXiv j874c, Center for Open Science.
    12. Pérez, Fátima & Gómez, Trinidad & Caballero, Rafael & Liern, Vicente, 2018. "Project portfolio selection and planning with fuzzy constraints," Technological Forecasting and Social Change, Elsevier, vol. 131(C), pages 117-129.
    13. Mario A. Maggioni & Mario Nosvelli & Teodora Erika Uberti, 2007. "Space versus networks in the geography of innovation: A European analysis," Papers in Regional Science, Wiley Blackwell, vol. 86(3), pages 471-493, August.
    14. Stefano Breschi & Franco Malerba, 2011. "Assessing the scientific and technological output of EU Framework Programmes: evidence from the FP6 projects in the ICT field," Scientometrics, Springer;Akadémiai Kiadó, vol. 88(1), pages 239-257, July.
    15. Mario Maggioni & Teodora Uberti, 2009. "Knowledge networks across Europe: which distance matters?," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 43(3), pages 691-720, September.
    16. Caloghirou, Yannis & Tsakanikas, Aggelos & Vonortas, Nicholas S, 2001. "Univeristy-Industry Cooperation in the Context of the European Framework Programmes," The Journal of Technology Transfer, Springer, vol. 26(1-2), pages 153-161, January.
    17. Junjie Chen & Shurong Tong & Hongmei Xie & Yafei Nie & Jingwen Zhang, 2019. "Model and Algorithm for Human Resource-Constrained R&D Program Scheduling Optimization," Discrete Dynamics in Nature and Society, Hindawi, vol. 2019, pages 1-13, April.
    18. Ramajo, Julián & Márquez, Miguel A. & Hewings, Geoffrey J.D. & Salinas, María M., 2008. "Spatial heterogeneity and interregional spillovers in the European Union: Do cohesion policies encourage convergence across regions?," European Economic Review, Elsevier, vol. 52(3), pages 551-567, April.
    19. Gonzalez-Brambila, Claudia N. & Veloso, Francisco M. & Krackhardt, David, 2013. "The impact of network embeddedness on research output," Research Policy, Elsevier, vol. 42(9), pages 1555-1567.
    20. Kopmann, Julian & Kock, Alexander & Killen, Catherine & Gemünden, Hans Georg, 2017. "The role of project portfolio management in fostering both deliberate and emergent strategy," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 92881, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    21. Defazio, Daniela & Lockett, Andy & Wright, Mike, 2009. "Funding incentives, collaborative dynamics and scientific productivity: Evidence from the EU framework program," Research Policy, Elsevier, vol. 38(2), pages 293-305, March.
    22. Kastrinos, Nikos & Weber, K. Matthias, 2020. "Sustainable development goals in the research and innovation policy of the European Union," Technological Forecasting and Social Change, Elsevier, vol. 157(C).
    23. Jan Saint-Macary & Lavagnon A. Ika, 2015. "Atypical perspectives on project management: moving beyond the rational, to the political and the psychosocial," International Journal of Project Organisation and Management, Inderscience Enterprises Ltd, vol. 7(3), pages 236-250.
    24. Di Cagno, Daniela & Fabrizi, Andrea & Meliciani, Valentina & Wanzenböck, Iris, 2016. "The impact of relational spillovers from joint research projects on knowledge creation across European regions," Technological Forecasting and Social Change, Elsevier, vol. 108(C), pages 83-94.
    25. Martin Lerch & Patrick Spieth, 2012. "Innovation Project Portfolio Management: a meta-analysis," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 16(1), pages 77-94.
    26. María-Antonia Ovalle-Perandones & Juan Gorraiz & Martin Wieland & Christian Gumpenberger & Carlos Olmeda-Gómez, 2013. "The influence of European Framework Programmes on scientific collaboration in nanotechnology," Scientometrics, Springer;Akadémiai Kiadó, vol. 97(1), pages 59-74, October.
    27. Colvin, Matthew & Maravelias, Christos T., 2011. "R&D pipeline management: Task interdependencies and risk management," European Journal of Operational Research, Elsevier, vol. 215(3), pages 616-628, December.
    28. Sara Amoroso & Alex Coad & Nicola Grassano, 2018. "European R&D networks: a snapshot from the 7th EU Framework Programme," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 27(5-6), pages 404-419, August.
    29. Henri Delanghe & Ugur Muldur, 2007. "Ex-ante impact assessment of research programmes: The experience of the European Union's 7th Framework Programme," Science and Public Policy, Oxford University Press, vol. 34(3), pages 169-183, April.
    30. Hans, E.W. & Herroelen, W. & Leus, R. & Wullink, G., 2007. "A hierarchical approach to multi-project planning under uncertainty," Omega, Elsevier, vol. 35(5), pages 563-577, October.
    31. Oguguo, Prince C. & Bodas Freitas, Isabel Maria & Genet, Corine, 2020. "Multilevel institutional analyses of firm benefits from R&D collaboration," Technological Forecasting and Social Change, Elsevier, vol. 151(C).
    32. Bellandi, Marco & Donati, Letizia & Cataneo, Alessandra, 2021. "Social innovation governance and the role of universities: Cases of quadruple helix partnerships in Italy," Technological Forecasting and Social Change, Elsevier, vol. 164(C).
    33. Larson, Mia & Wikström, Ewa, 2007. "Relational interaction processes in project networks: The consent and negotiation perspectives," Scandinavian Journal of Management, Elsevier, vol. 23(3), pages 327-352, September.
    34. Fernandez de Arroyabe, Juan Carlos & Schumann, Martin & Sena, Vania & Lucas, Pablo, 2021. "Understanding the network structure of agri-food FP7 projects: An approach to the effectiveness of innovation systems," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    35. Vincent Larivière & Benoit Macaluso & Éric Archambault & Yves Gingras, 2010. "Which scientific elites? On the concentration of research funds, publications and citations," Research Evaluation, Oxford University Press, vol. 19(1), pages 45-53, March.
    36. Solak, Senay & Clarke, John-Paul B. & Johnson, Ellis L. & Barnes, Earl R., 2010. "Optimization of R&D project portfolios under endogenous uncertainty," European Journal of Operational Research, Elsevier, vol. 207(1), pages 420-433, November.
    37. Jean O. Lanjouw & Mark Schankerman, 2004. "Patent Quality and Research Productivity: Measuring Innovation with Multiple Indicators," Economic Journal, Royal Economic Society, vol. 114(495), pages 441-465, April.
    38. Kaur, Jasleen & Ferrara, Emilio & Menczer, Filippo & Flammini, Alessandro & Radicchi, Filippo, 2015. "Quality versus quantity in scientific impact," Journal of Informetrics, Elsevier, vol. 9(4), pages 800-808.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mafini Dosso & Antonio Vezzani, 2020. "Firm market valuation and intellectual property assets," Industry and Innovation, Taylor & Francis Journals, vol. 27(7), pages 705-729, August.
    2. Sara Amoroso & Alex Coad & Nicola Grassano, 2018. "European R&D networks: a snapshot from the 7th EU Framework Programme," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 27(5-6), pages 404-419, August.
    3. Sara Amoroso & Alex Coad & Nicola Grassano, 2017. "European R&D networks: A snapshot from the 7th EU Framework Programme," JRC Working Papers on Corporate R&D and Innovation JRC107546, Joint Research Centre (Seville site).
    4. Laurent R. Bergé, 2017. "Network proximity in the geography of research collaboration," Papers in Regional Science, Wiley Blackwell, vol. 96(4), pages 785-815, November.
    5. Valentina Meliciani & Daniela Cagno & Andrea Fabrizi & Marco Marini, 2022. "Knowledge networks in joint research projects, innovation and economic growth across European regions," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 68(3), pages 549-586, June.
    6. Ernest Miguélez & Rosina Moreno, 2013. "“Mobility, networks and innovation: The role of regions’ absorptive capacity”," IREA Working Papers 201316, University of Barcelona, Research Institute of Applied Economics, revised Oct 2013.
    7. Marina Van Geenhuizen & Pieter Stek, 2015. "Mapping innovation in the global photovoltaic industry: a bibliometric approach to cluster identification and analysis," ERSA conference papers ersa15p697, European Regional Science Association.
    8. Gergő Tóth & Sándor Juhász & Zoltán Elekes & Balázs Lengyel, 2021. "Repeated collaboration of inventors across European regions," European Planning Studies, Taylor & Francis Journals, vol. 29(12), pages 2252-2272, December.
    9. Yutao Sun & Kai Liu, 2016. "Proximity effect, preferential attachment and path dependence in inter-regional network: a case of China’s technology transaction," Scientometrics, Springer;Akadémiai Kiadó, vol. 108(1), pages 201-220, July.
    10. Christoph Grimpe & Wolfgang Sofka & Andreas P. Distel, 2022. "SME participation in research grant consortia—the emergence of coordinated attention in collaborative innovation," Small Business Economics, Springer, vol. 59(4), pages 1567-1592, December.
    11. Daniel Nepelski & Vincent Roy & Annarosa Pesole, 2019. "The organisational and geographic diversity and innovation potential of EU-funded research networks," The Journal of Technology Transfer, Springer, vol. 44(2), pages 359-380, April.
    12. Fernandez de Arroyabe, Juan Carlos & Schumann, Martin & Sena, Vania & Lucas, Pablo, 2021. "Understanding the network structure of agri-food FP7 projects: An approach to the effectiveness of innovation systems," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    13. Robert Huggins & Daniel Prokop, 2017. "Network structure and regional innovation: A study of university–industry ties," Urban Studies, Urban Studies Journal Limited, vol. 54(4), pages 931-952, March.
    14. Faraz Salehi & S. Mohammad J. Mirzapour Al-E-Hashem & S. Mohammad Moattar Husseini & S. Hassan Ghodsypour, 2023. "A bi-level multi-follower optimization model for R&D project portfolio: an application to a pharmaceutical holding company," Annals of Operations Research, Springer, vol. 323(1), pages 331-360, April.
    15. Robert Huggins & Daniel Prokop & Piers Thompson, 2020. "Universities and open innovation: the determinants of network centrality," The Journal of Technology Transfer, Springer, vol. 45(3), pages 718-757, June.
    16. Fabrizi, Andrea & Guarini, Giulio & Meliciani, Valentina, 2018. "Green patents, regulatory policies and research network policies," Research Policy, Elsevier, vol. 47(6), pages 1018-1031.
    17. Ran Etgar & Yuval Cohen, 2022. "Roadmap Optimization: Multi-Annual Project Portfolio Selection Method," Mathematics, MDPI, vol. 10(9), pages 1-23, May.
    18. Matthias Firgo & Peter Mayerhofer, 2015. "Wissens-Spillovers und regionale Entwicklung - welche strukturpolitische Ausrichtung optimiert des Wachstum?," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 144, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    19. Marco Cavallaro & Benedetto Lepori, 2021. "Institutional barriers to participation in EU framework programs: contrasting the Swiss and UK cases," Scientometrics, Springer;Akadémiai Kiadó, vol. 126(2), pages 1311-1328, February.
    20. Aurélien Fichet de Clairfontaine & Manfred Fischer & Rafael Lata & Manfred Paier, 2015. "Barriers to cross-region research and development collaborations in Europe: evidence from the fifth European Framework Programme," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 54(2), pages 577-590, March.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:tefoso:v:180:y:2022:i:c:s0040162522002141. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.sciencedirect.com/science/journal/00401625 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.