nep-ppm New Economics Papers
on Project, Program and Portfolio Management
Issue of 2007‒10‒20
seven papers chosen by
Arvi Kuura
Parnu College - Tartu University

  1. Financing sports arenas - options for large and middle-size projects By Rebeggiani, Luca; Witte, Sebastian
  2. The Appraisal of Projects with Environmental Impacts. Efficiency and Sustainability By Joan Pasqual Rocabert; Emilio Padilla Rosa
  3. Hospital Process Orientation (HPO): The development of a measurement tool By P. GEMMEL; D. VANDAELE; W. TAMBEUR
  4. Knowledge Flows through Social Networks in a Cluster: Interfirm versus University- Industry Contacts By Christian R. Østergaard
  5. Public expenditure and growth By Herrera, Santiago
  6. Does the Order and Timing of Active Labor Market Programs Matter? By Michael Lechner; Stephan Wiehler
  7. Climate Change and Sustainable Development By Tariq Banuri; Hans Opschoor

  1. By: Rebeggiani, Luca; Witte, Sebastian
    Abstract: Hosting the 2006 FIFA World Championship induced a boom in stadium investments in Germany. A second wave of smaller arena constructions can currently be observed across the country. These projects are promoted by smaller clubs of the first and the second Bundesliga, aiming not to fall behind the top clubs. The present paper gives an overview over recent financing models for large stadiums and then focuses on the special case of middle-size arenas.
    Keywords: Sportökonomie; Stadionbau; Kommunale Investitionen; sports facilities
    JEL: H82 G31 L83
    Date: 2007–09
  2. By: Joan Pasqual Rocabert (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona); Emilio Padilla Rosa (Departament d'Economia Aplicada, Universitat Autonoma de Barcelona)
    Abstract: It is usually assumed that the appraisal of the impacts experienced by present generations does not entail any difficulty. However, this is not true. Moreover, there is not a widely accepted methodology for taking these impacts into account. Some of the controversial issues are: the appropriate value for the discount rate, the choice of the units for expressing the impacts, physical or monetary units —income, consumption or investment— and the valuation of tangible and intangible goods. When approaching the problem of very long term impacts, there is also the problem of valuing the impacts experienced by future generations, through e.g., the use of an intergenerational discount rate. However, if this were the case, the present generation perspective would prevail, as if all the property rights on the resources were owned by them. Therefore, the sustainability requirement should also be incorporated into the analysis. We will analyze these problems in this article and show some possible solutions.
    Date: 2007–09
    Abstract: This paper looks at how process orientation can be measured using data from one large European University hospital. After a restructuring in divisions and the implementation of the care programs and clinical pathways, hospital management came to the conclusion that they had no tools to evaluate if these changes were resulting in a process orientation on the work-floor. In agreement with hospital management, an existing tool of business process orientation measurement was adopted and adapted to the specific context of healthcare. This paper reports on how the measurement tool was changed and validated in order to come up with a useful instrument to measure the process orientation of the employees in the hospital. The Hospital Process Orientation (HPO) tool can be useful to measure the effects of changes which are assumed to lead to more process-orientation or even patient focus. In this way the pay-off of these investments can be made more tangible. The HPO tool offers hospitals a way to evaluate how they are evolving towards more process orientation.
    Keywords: business process orientation, healthcare management, measurement tool
    Date: 2007–09
  4. By: Christian R. Østergaard
    Abstract: Knowledge spillovers from a university to the local industry play an important role in clusters, but we know little about these spillovers. This paper examines empirically the extent of university-industry informal contacts. Furthermore, it analyses the characteristics of an engineer that acquire knowledge from informal contacts with university researchers. The university-industry contacts are compared with results for interfirm contacts. The research shows that the interfirm informal contacts are more numerous than university informal contacts. Likewise, knowledge is more frequently acquired from other firms than through university-industry contacts. Engineers that have participated in formal projects with university researchers and engineers that are educated at the university have a higher likelihood of acquiring knowledge from informal contacts with university researchers.
    Keywords: Knowledge flows; informal contacts
    JEL: D83 O32 I23
    Date: 2007
  5. By: Herrera, Santiago
    Abstract: Given that public spending will have a positive impact on GDP if the benefits exceed the marginal cost of public funds, the present paper deals with measuring costs and benefits of public spending. The paper discusses one cost seldom considered in the literature and in policy debates, namely, the volatility derived from additional public spending. The paper identifies a relationship between public spending volatility and consumption volatility, which implies a direct welfare loss to society. This loss is substantial in developing countries, estimated at 8 percent of consumption. If welfare losses due to volatility are this sizeable, then measuring the benefits of public spending is critical. Gauging benefits based on macro aggregate data requires three caveats: a) considering of the impact of the funding (taxation) required for the additional public spending; b) differentiating between investment and capital formation; c) allowing for heterogeneous response of output to different types of capital and differences in network development. It is essential to go beyond country-specificity to project-level evaluation of the benefits and costs of public projects. From the micro viewpoint, the rate of return of a project must exceed the marginal cost of public funds, determined by tax levels and structure. Credible evaluations require microeconomic evidence and careful specification of counterfactuals. On this, the impact evaluation literature and methods play a critical role. From individual project evaluation, the analyst must contemplate the general equilibrium impacts. In general, the paper advocates for project evaluation as a central piece of any development platform. By in creasing the efficiency of public spending, the government can permanently increase the rate of productivity growth and, hence, affect the growth rate of GDP.
    Keywords: Public Sector Economics & Finance,,Economic Theory & Research,Debt Markets,Public Sector Expenditure Analysis & Management
    Date: 2007–10–01
  6. By: Michael Lechner; Stephan Wiehler
    Abstract: This paper extends the traditional focus of active labor market policy evaluation from a static comparison of participation in a program versus nonparticipation (or participation in another program) to the evaluation of the effects of program sequences, i.e. multiple participation or timing of such programs. We use a dynamic evaluation framework that explicitly allows for dynamic selection into different stages of such sequences based on past intermediate outcomes to analyze multiple programs, the timing of programs, and the order of programs. The analysis is based on exceptionally comprehensive data on the Austrian labor force. Our findings suggest that (i) active job search programs are more effective after a qualification program compared to the reverse order, that (ii) multiple participations in qualification measures dominates single participation, and that (iii) the effectiveness of specific labor market programs deteriorates the later they start during an unemployment spell.
    Keywords: Active Labor market policy, matching estimation, program evaluation, panel data
    JEL: J68
    Date: 2007–10
  7. By: Tariq Banuri; Hans Opschoor
    Abstract: This paper argues that in the future the primary focus of policy research and global agreements should be the de-carbonization of economic development. Consequently, instead of treating climate stabilization and economic development as separate and equal, the strategy should be to re-integrate the two global policy goals, in part by separating responsibility (and funding) from action. This will require an approach that goes beyond Kyoto. The paper invokes the example of the Manhattan Project to argue for a massive, globally funded public investment program for the deployment of renewable energy technologies in developing countries.
    Keywords: carbon emissions, climate change, sustainable development, international cooperation, mitigation, adaptation
    JEL: Q51 Q54 Q56 F59 H23 H87
    Date: 2007–10

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