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A novel hybrid MCDM model for performance evaluation of research and technology organizations based on BSC approach

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  • Varmazyar, Mohsen
  • Dehghanbaghi, Maryam
  • Afkhami, Mehdi

Abstract

Balanced Scorecard (BSC) is a strategic evaluation tool using both financial and non-financial indicators to determine the business performance of organizations or companies. In this paper, a new integrated approach based on the Balanced Scorecard (BSC) and multi-criteria decision making (MCDM) methods are proposed to evaluate the performance of research centers of research and technology organization (RTO) in Iran. Decision-Making Trial and Evaluation Laboratory (DEMATEL) are employed to reflect the interdependencies among BSC perspectives. Then, Analytic Network Process (ANP) is utilized to weight the indices influencing the considered problem. In the next step, we apply four MCDM methods including Additive Ratio Assessment (ARAS), Complex Proportional Assessment (COPRAS), Multi-Objective Optimization by Ratio Analysis (MOORA), and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) for ranking of alternatives. Finally, the utility interval technique is applied to combine the ranking results of MCDM methods. Weighted utility intervals are computed by constructing a correlation matrix between the ranking methods. A real case is presented to show the efficacy of the proposed approach.

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  • Varmazyar, Mohsen & Dehghanbaghi, Maryam & Afkhami, Mehdi, 2016. "A novel hybrid MCDM model for performance evaluation of research and technology organizations based on BSC approach," Evaluation and Program Planning, Elsevier, vol. 58(C), pages 125-140.
    • Handle: RePEc:eee:epplan:v:58:y:2016:i:c:p:125-140
    DOI: 10.1016/j.evalprogplan.2016.06.005
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    18. Ecer, Fatih, 2021. "A consolidated MCDM framework for performance assessment of battery electric vehicles based on ranking strategies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 143(C).
    19. Kim, Eungdo & Kim, Soyoung & Kim, Hongbum, 2017. "Development of an evaluation framework for publicly funded R&D projects: The case of Korea's Next Generation Network," Evaluation and Program Planning, Elsevier, vol. 63(C), pages 18-28.
    20. Qi-Gan Shao & James J. H. Liou & Sung-Shun Weng & Yen-Ching Chuang, 2018. "Improving the Green Building Evaluation System in China Based on the DANP Method," Sustainability, MDPI, vol. 10(4), pages 1-20, April.
    21. Moraga, Javier A. & Quezada, Luis E. & Palominos, Pedro I. & Oddershede, Astrid M. & Silva, Hernán A., 2020. "A quantitative methodology to enhance a strategy map," International Journal of Production Economics, Elsevier, vol. 219(C), pages 43-53.
    22. Sarraf, Fatemeh & Nejad, Shabnam Hashemi, 2020. "Improving performance evaluation based on balanced scorecard with grey relational analysis and data envelopment analysis approaches: Case study in water and wastewater companies," Evaluation and Program Planning, Elsevier, vol. 79(C).

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