Systematic Review
MCDM-Based R&D Project Selection: A Systematic
Literature Review
Dalton Garcia Borges de Souza
1,2,3,
* , Erivelton Antonio dos Santos
4,5
, Nei Yoshihiro Soma
1,2,6
and Carlos Eduardo Sanches da Silva
4,7
Citation: de Souza, D.G.B.;
dos Santos, E.A.; Soma, N.Y.; da Silva,
C.E.S. MCDM-Based R&D Project
Selection: A Systematic Literature
Review. Sustainability 2021, 13, 11626.
https://doi.org/10.3390/su
132111626
Academic Editors: João Carlos de
Oliveira Matias and Paolo Renna
Received: 6 September 2021
Accepted: 1 October 2021
Published: 21 October 2021
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4.0/).
1
Division of Computer Science, Aeronautics Institute of Technology, São José dos Campos 12.228-900, Brazil;
nys@ita.br
2
Institute of Science and Technology, Federal University of Sao Paulo, São José dos Campos 12.247-014, Brazil
3
Lorena School of Engineering, University of São Paulo, Lorena 12.602-810, Brazil
4
Institute of Industrial Engineering and Management, Federal University of Itajubá, Itajubá 37.500-903, Brazil;
erivelton.santos@unifenas.br (E.A.d.S.); sanches@unifei.edu.br (C.E.S.d.S.)
5
Department of Administration Course, José do Rosário Vellano University, Alfenas 37.132-440, Brazil
6
Department of Mechanical Engineering, University of Taubate, Taubaté 12.020-270, Brazil
7
Secretariat of Higher Education, Ministry of Education, Brasília 70.047-900, Brazil
* Correspondence: dalton.borges@unifesp.br
Abstract:
From small spin-offs deploying innovative software to big pharmaceutical complexes
making vaccines, Research and Development (R&D) Project Portfolio Selection (PPS) is an essential
strategic process for various companies. It was never easy to select a set of projects among many
feasible possibilities, even for yesterday’s paces. However, the world is rapidly changing, and so
is R&D PPS. The portfolio objectives excel profit in the same manner that model constraints go
beyond budget limitations. In parallel, project selection approaches and solving algorithms followed
the increase of computational power. Despite all those changes, the importance of Multi-Criteria
Decision Making (MCDM) methods and the decision criteria used for R&D PPS, there is still room
for a systematic literature review (SLR) for the topic. Thus, this paper offers an SLR of the existing
literature from the half-century, 1970, and onward MCDM-based R&D PPS performed in Scopus
and Web of Science Core Collection. We provide a comprehensive picture of this field, show how it
is changing, and highlight standard practices and research opportunities in the area. We perform
a broad classification of the MCDM methods, categorized by the nature of alternatives, types of
integration approach, the MCDM method itself, and types of uncertainty, by the 66 studies in the SLR
database. The portfolios’ classification obeys the application domain and the number of projects. We
have also explored all the 263 criteria found in the literature by grouping them according to experts
from five Brazilian R&D organizations that together manage portfolios valued around US$ 5 billion
a year, accounting for 38% of all Brazilian annual expenditure in R&D projects. We also include a
bibliometric analysis of the considered papers and research opportunities highlighted or not explored
by researchers. Given the increasing number of decision-making approaches and new technologies
available, we hope to provide guidance on the topic and promote knowledge production and growth
concerning the usage of MCDM methods and decision criteria in R&D PPS.
Keywords:
research and development; portfolio management; decision support systems; multi-
attribute decision making; systematic literature review
1. Introduction
In the last 50 years, many authors have suggested project selection approaches for
different topics such as healthcare, construction, and the public sector. One of the most
relevant topics is R&D, with many relevant articles indexed in scientific databases. Thore [
1
]
suggests that, by the end of the 20th century, as a consequence of the unbridled increase of
communication and information technology, a new economy has arisen, recognizing it as
Sustainability 2021, 13, 11626. https://doi.org/10.3390/su132111626 https://www.mdpi.com/journal/sustainability
