Space Technology Management: An Integrated Approach

Managing the space technology development process in the best possible way is a priority for any space related organization. Finance and decision analysis are two critical fields, which can make major contributions to technology development in general, and to space technology development in particular. In this context, two main methods will be examined in this paper: real options methodology and portfolio optimization. Maintaining a close alignment between strategic objectives and technological capability is crucial for both public and private space entities. An integrated decision support system, including cost/benefit and risk analyses, can be very instrumental for this alignment. This paper outlines the basic components of such a system, considering both theoretical and practical aspects.