## 2 Research Background and Framework  
### Innovation Framework  
Humankind has always been able to realize ideas with innovations such as controlling fire, democracy, railways, the light bulb, and the development of new medicine [1]. In this regard, various scholars from social and economic fields were pioneers in advancing the concept of a knowledge-based economy and predicting the decline of an industrial manufacturing culture [2]. Knowledge plays a key role in the global economy as it is the basis of innovation [12]. In the mid-1990s, the knowledge-driven economy concept evolved as knowledge became more important than ever before, especially as applications of information and communication technologies were the drivers of the new economy [2]. In this context, investment by private companies in research and development (R&D) and by universities in research and education are crucial sources of knowledge and innovation [13]. The first definition of innovation was proposed by [PERSON] (1934). He associated it with economic development and considered it a new combination of productive resources. The conception of innovation has evolved significantly over the last 60 years. During the 1950s, innovation was considered a discrete development resulting from studies carried out by isolated researchers [2]. Moreover, innovation models have developed from a process within the firm to include factors of the external environment [4]. Nowadays, innovation is no longer considered a specific result of individual actions but more a holistic view of innovation, leading to the challenge of transforming information into knowledge [2]. As a result, technological development and innovation are at the core of the political and economic discussions as it has a qualitative nature (new products, technologies, etc.) that is also converted into quantitative measures (profits, market share, etc.) [4]. Every innovation model is based on the reduction of complexity of reality and, therefore, inevitably tends to overlook the specific factors of each innovation case [4]. In this context, the purpose of innovation management is to control and reduce the risk of the development strategy, considering that innovation is a high-risk activity [14] and that our mental models are limited [15]. The development of innovation project portfolios has attracted the attention of practitioners and researchers in the last two decades [16]. Moreover, an innovation project performance assessment can be performed in several ways, for instance, by considering technical, economic, and other factors [10]. During the 1980s and 1990s, debates over economic growth and competitiveness reoriented upon the centrality of innovation and pointed out the lack of measurement tools to transform the existing innovation theory into effective managerial management methods to link macro-approaches to the micro-level [17], i.e., from the strategic to the operative management levels. Moreover, innovation can have different outcomes depending on its application scope. One of the highest priorities should be given to gaining clarity on how to assess the outcomes of innovation. Simplification, conceptual clarification, theoretical models, and cumulative empirical work are needed [18] with an innovation measurement method depending on the innovation phase [9]. Innovation and continuous improvement are based on the company's ability to be creative and learn [5]. However, innovation inevitably gives rise to new problems. It can cause chain reactions throughout an entire company [13]. The objective of innovative project management is to better integrate and control the risk associated with the stress that accompanies the process of innovation; it is the management of uncertainty [13]. A management and control model can only work if you manage to grasp all its processes and understand their interdependence [19]. In this context, innovation management techniques include a range of tools, techniques, and methodologies that help companies in a systematic way [2].