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Technology Selection Using the TOPSIS Method

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  • Katarzyna Halicka

    (Bialystok University of Technology (Poland))

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.

Suggested Citation

  • Katarzyna Halicka, 2020. "Technology Selection Using the TOPSIS Method," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 14(1), pages 85-96.
    • Handle: RePEc:hig:fsight:v:14:y:2020:i:1:p:85-96
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    References listed on IDEAS

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    Cited by:

    1. Sławomira Hajduk, 2021. "Multi-Criteria Analysis of Smart Cities on the Example of the Polish Cities," Resources, MDPI, vol. 10(5), pages 1-23, May.
    2. Parolin, Giácomo & McAloone, Tim C. & Pigosso, Daniela C.A., 2024. "How can technology assessment tools support sustainable innovation? A systematic literature review and synthesis," Technovation, Elsevier, vol. 129(C).
    3. Sławomira Hajduk & Dorota Jelonek, 2021. "A Decision-Making Approach Based on TOPSIS Method for Ranking Smart Cities in the Context of Urban Energy," Energies, MDPI, vol. 14(9), pages 1-23, May.
    4. Anna Veretennikova & Kseniya Kozinskaya, 2022. "Assessment of the Sharing Economy in the Context of Smart Cities: Social Performance," Sustainability, MDPI, vol. 14(19), pages 1-15, September.
    5. Chaplygin, V. & Moroz, V., 2022. "Decision making on the technology transfer in regional innovation cluster under uncertainty and risk," Journal of the New Economic Association, New Economic Association, vol. 53(1), pages 121-142.
    6. Bukar, Ahmed M. & Asif, Muhammad, 2024. "Technology readiness level assessment of carbon capture and storage technologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 200(C).

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    More about this item

    Keywords

    technology; innovation; technology selection; technology assessment; technology readiness levels; TOPSIS; Multi-Attribute Decision-Making methods;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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