Portfolios of promise: A review of R&D investment techniques and how they apply to technology development in space agencies

Despite a rich legacy of impressive technological accomplishments, the government acquisition of advanced space systems is increasingly synonymous with schedule slips and cost overruns. Program reviews have suggested that investing more in centralized and strategic research and development outside particular programs will reduce technical uncertainties and improve cost and schedule outcomes. This paper suggests roles for a centralized technology office by examining the methods available in the literature for managing portfolios of research projects.