modernization-n; 2 Senses

Sense Number 1: making modern

Commentary: MODERNIZATION[+event] The act of changing the appearance or behavior of something to meet current standards.

The modernization of Nigeria will be a long process.
The building underwent an expensive modernization, but the electricity still doesn't work.
The Senate supports the modernization of the highway system.

WordNet 2.0 Sense Numbers: 1

Sense Number 2: something modernized

Commentary: Something that has been modernized. Usually refers to a artistic work.

The popular Broadway musical "Rent" is a modernization of "La Boheme" with updated themes and musical styles.
John sent his modernization of "The Great Gatsby" to a dozen publishers, but nobody liked it.

WordNet 2.0 Sense Numbers: 2