Heavy duty gas turbine developments are major endeavors which use significant resource for development. Optimization of the technology portfolio is critical to yield a competitive product-line which is robust enough to compete in a dynamic market where vantage positions bring large profits but quickly erode over time. The current research addresses some of these challenges by proposing a transparent and integrated method aimed at investigating technology portfolio selection for future gas turbine-based power plants. The value-driven methodology analyzes technology investments, and is the foundation for a strategic decision framework that facilitates the formulation of robust and competitive technology portfolio solutions. A three-step process is proposed in this paper. A market response analysis is first carried out to estimate market penetration. A technology impact and readiness level analysis is performed next and augmented with a portfolio optimization. Finally, “what-if” scenarios are investigated to assess the robustness of selected technology portfolio candidates against a set of market conditions.Copyright © 2011 by Siemens Energy, Inc.