Goal-based Key Performance Indicators of Science Parks' Effectiveness: A Case Study at Riyadh Techno-Valley

Abstract

Science and Technology Parks (S&TP) play an important role in creating a supportive eco- system to build innovation, developing new businesses, transferring of technologies, establishing tight collaboration with the industry and positively impacting the growth of knowledge economy. To successfully manage this eco-system and determine its significance a well-defined evaluation system is needed to continually assess the performance of S&TP. In this paper, a procedure for measuring the effectiveness of Riyadh Techno Valley (RTV) using a set of comprehensive and well known multi-criterion performance indicators has been described. The performance indicators are assessed in relation to the goals of RTV by estimating its optimal achievement values and compared to actual performance to determine the gaps and recommend appropriate improvement. Due to uncertainty in human experts' judgment psychometric fuzzy scale have established to measure the actual against the optimal overall performance.