Benchmarking is a tool for monitoring performance and searching for the best practice through learning from others. This paper introduces a new model, namely the Virtual Benchmarking Model (VBM), for benchmarking the R&D projects. This model uses the Data Envelopment Analysis (DEA) technique and identifies output indicators based on R&D steps and addresses the problem of monhomogeneous outputs. The proposed model was examined empirically using input-output indicators captured from 30 electronics R&D projects in IROST. Results indicate that efficiency and effectiveness criteria should be used jointly for identifying the best practices. Based on the VBM model, 17 % of R&D projects were distinguished as providing benchmarks for other projects. The main characteristics of these projects were 1) effective human resource planning and; 2) marketing the results of R&D projects. Use of the virtual benchmarking process can lead to enhance mont 08 the performance of R&D projects.
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