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on Project, Program and Portfolio Management |
| By: | Moszoro, Marian (IESE Business School); Krzyzanowska, Magdalena (Kozminski University) |
| Abstract: | Public-Private Partnerships (PPPs) realize three critical strategic issues for improving the quality of urban services: the enhancement of governmental financing capabilities, the improvement of public investment efficiency, and the harnessing of consumer-orientated management expertise. Based on a sample of 20 projects embarked upon by the city of Warsaw, we examine the process of project selection, planning, and prerequisites for satisfactory completion. The paper contributes to the literature on the PPP pre-implementation process and offers a perspective on the potential of PPPs in emerging economies. Key policy recommendations: 1) central headquarters for coordination of planning process; 2) clear project selection criteria; 3) involvement of independent consulting companies to legitimate the process under subsequent administrations; 4) ex ante risk allocation and ex post performance measurement procedures; 5) pre-determined termination conditions; 6) determination to start the process and learn by doing, and 7) knowledge transfer and retention mechanisms. |
| Keywords: | Public Services; Public-Private Partnerships; Urban Development; Central and Eastern Europe; Emerging Markets; |
| JEL: | D73 H83 L32 L33 R51 |
| Date: | 2011–02–09 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:iesewp:d-0908&r=ppm |
| By: | Fung, Kwok-Chiu (Asian Development Bank Institute); Garcia-Herrero, Alicia (Asian Development Bank Institute); Ng, Francis (Asian Development Bank Institute) |
| Abstract: | In this paper the authors critically review the relevant information and literature that can enhance the feasibility and the successful implementation of cross-border infrastructure projects. They provide detailed information concerning foreign direct investment in the major emerging regions: East Asia and the Pacific, Latin America, and Eastern Europe. They also discuss the theoretical and empirical literature which sheds light on the characteristics of transnational infrastructure projects, who should conduct them, and what determines their existence. The literature points to the importance of government involvement in transnational infrastructure projects as there are clear external benefits which will otherwise not be reaped. It also points to the importance of coordination for the success of the project. The Asian Development Bank is well placed to perform that role. Lastly, they provide six cases of cross-border infrastructure projects, two each from East Asia, Latin America, and Eastern Europe. These cases illustrate the critical need for smooth coordination of the diverse groups of team players, top-level backing of the projects, as well as a thorough understanding of all the political and financial factors involved that can influence the success of these projects. |
| Keywords: | cross-border infrastructure; transnational infrastructure projects; foreign direct investment; east asia pacific |
| JEL: | F15 F36 O19 R58 |
| Date: | 2011–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0274&r=ppm |
| By: | Schneider, Hilmar (IZA); Uhlendorff, Arne (University of Mannheim); Zimmermann, Klaus F. (IZA and University of Bonn) |
| Abstract: | We evaluate a pilot workfare project of a Berlin city community to integrate young people in social assistance into the labor market. Reference data are generated in collaboration with the German Employment Office. The participation effect is found to be positive and of relevant size, but not statistically significant. This indicates that selection biases detected in the allocation process of individuals to the program can be adjusted by econometric techniques, but only on the prize of reduced significance levels. Given the small sample sizes of pilot projects this calls for social experiments in controlled project designs. |
| Keywords: | workfare, labor supply, evaluation, social experiments |
| JEL: | J22 J64 H43 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp5599&r=ppm |
| By: | Carlo Alberto Magni; Flavio Pressacco; Patrizia Stucchi |
| Abstract: | The internal rate of return (IRR) and the corresponding criterion has well-known difficulties of applicability and reliability. Among other problems, a project may have no real-valued IRR. The latter problem has been recently solved by Magni (2010a), who shows that, for any project, a unique return function exists which maps aggregate capitals into rates of return, each of which is a weighted average of one-period (internal) rates of return, so it is called Average Internal Rate of Return (AIRR). Given the extent to which the IRR notion is rooted in real-life applications as well as in academia, this paper aims to supply a genuine IRR even for a project which has no IRR. This seemingly paradoxical result is achieved by introducing a twin project which has a unique IRR and the same NPV as the original project's, and which is obtained through an appropriate minimization of the distance between the original project's cash flow stream and the twin project's. Given that the latter's IRR lies on the original project's return function, it genuinely expresses a rate of return (an AIRR) of the original project. And while it is not the IRR of the project, the measure presented is `almost' the IRR of the project, so it is actually the ``quasi-IRR" of the project. |
| Date: | 2011–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:col:000162:008249&r=ppm |
| By: | OWAN Hideo; NAGAOKA Sadao |
| Abstract: | This paper theoretically and empirically evaluates the relationship between the strength of inventors’ motives and their productivity, and the interaction between intrinsic and extrinsic motivation. For our empirical analyses, we use novel data from a survey of Japanese inventors on 5,278 patents conducted by the Research Institute of Economy, Trade and Industry (RIETI) in 2007 matched with a firm-level survey of remuneration policies for employee inventions conducted by the Institute of Intellectual Property (IIP) in 2005. The RIETI survey contains rich information about inventors, patents, and project characteristics, as well as two new measures of inventor productivity. Our study first reveals that satisfaction from contributing to science and technology and interest in solving challenging technical problems are highly associated with inventor productivity. Most notably, the science motivation measure has the largest and the most significant correlation with our measures of inventor productivity. Science orientation may be strongly associated with high R&D productivity because early access to scientific discoveries gives inventors an advantage or because interest in science correlates with inventive ability. However, careful analysis using additional measures of knowledge spillovers from academia and a proxy of inventor ability find little support for either explanation. This result makes the third explanation (science orientation) plausible, that is, the above two task motives simply encourage researchers to dedicate themselves to challenging projects. In order to explore further and based on our interpretation of motivation mentioned above, we present a principal-agent model where the agent selects the type of research projects and exerts effort in the presence of monetary incentives. The model offers the following two empirical implications: (a) firms with many intrinsically motivated employees are less likely to introduce revenue-based pay; and (b) the average value of patents is more positively correlated with the strength of intrinsic motivation in the absence of revenue-based pay than in its presence. Finally, we test the above empirical implications using the matched dataset from the RIETI and IIP surveys and we find little significant support for either prediction. We offer possible explanations for the result. |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:11022&r=ppm |
| By: | TSUKADA Naotoshi; NAGAOKA Sadao |
| Abstract: | This paper analyzes how standards as a knowledge source are important for R&D, how significantly the (backward) citations by a patent of standard-related documents measure such knowledge flow, and how significantly they affect the performance of downstream R&D. Using both the RIETI inventor survey in Japan and the bibliographic information of triadic patents families, we show that standard information-that embodied in the standards and related documents-has become very important as a knowledge source for the conception of R&D projects in the information and telecommunication area (ICT), and that the frequency of the patents citing standard documents has been increasing. The citation information in US patent documents can be effectively used to measure the knowledge flows from standards to inventions, although it covers only a limited portion of the knowledge flow. The R&D projects intensively using standard information tend to generate valuable patents and also a large number of patents, controlling for research labor input, the use of scientific literature, as well as that of patent literature. A patent that uses private international forum standards as a knowledge source is significantly more cited than a patent that uses national or international public standards as a knowledge source. |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:11018&r=ppm |
| By: | Pablo D'Este; Frederick Guy; Simona Iammarino |
| Abstract: | Research collaborations between universities and industry (U-I) are considered to be one important channel of potential localised knowledge spillovers. These collaborations favour both intended and unintended flows of knowledge and facilitate learning processes between partners from different organisations. Despite the copious literature on localised knowledge spillovers, still little is known about the factors driving the formation of U-I research collaborations and, in particular, about the role that geographical proximity plays in the establishment of such relationships. Using collaborative research grants between universities and business firms awarded by the UK Engineering and Physical Sciences Research Council (EPSRC), in this paper we disentangle some of the conditions under which different kinds of proximity contribute to the formation of U-I research collaborations, focussing in particular on technological complementarity among the firms participating in such partnerships. |
| Keywords: | university-industry research collaborations, proximity, geography, industrial clustering, technological complementarity |
| JEL: | O31 O32 O33 R10 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:egu:wpaper:1106&r=ppm |