Abstract Book of the 9th International Conference on Management, Economics and Finance
Year: 2025
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Optimized Approach for a Successful Licensed Technology Evaluation in Mega Projects
Abdulrahman AlKhateeb , M. Odail , A. Dossary , A. Haqawi
ABSTRACT:
The evaluation of licensed technologies is a critical component of mega projects, requiring a careful and structured approach to ensure the selection of the most suitable technology. This paper presents an optimized framework for evaluating licensed technologies, comprising seven key steps to guarantee a successful outcome. Initially, a thorough capability due diligence of potential technology licensers is conducted to assess their credibility and expertise. A clear and detailed request for proposal is then developed, outlining the project’s scope and requirements, and agreed upon by all stakeholders. To maintain objectivity, a neutral project management consultant contractor is carefully selected to contribute in the evaluation process. A well-defined evaluation timeframe and scope are established to ensure a systematic assessment. A structured process for addressing technical and commercial queries is implemented, and a standardized technology information template is utilized to evaluate and score the proposed technologies. Furthermore, a robust economic model is developed to calculate and compare the Net Present Value (NPV) and Investment Rate of Return (IRR) of each technology, enabling an informed decision. By adopting this optimized approach, mega project stakeholders can ensure a comprehensive and unbiased evaluation of licensed technologies, ultimately leading to the selection of the most suitable technology and maximizing project success. This framework provides a valuable tool for project managers, investors, and other stakeholders involved in large-scale projects, helping to mitigate risks and optimize returns on investment.
Keywords: assessment, commercial, framework, stakeholders, technical