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on Project, Program and Portfolio Management |
| By: | Beatrice D'Ippolito (MTS - Management Technologique et Strategique - Grenoble École de Management (GEM)) |
| Abstract: | Scholars dedicated increasing attention towards appreciating how design has changed individuals' perception of new products, firms' understanding and formulation of strategy, or other relevant actors' approach to innovation and technology management. By emphasising the importance of design for the definition of consumers' needs, the restructuring of firms' organisational structures and strategies, and the evolution of firms' value creation processes, this review paper identifies relevant research gaps and questions that would benefit from future scholarly attention. In particular, it is suggested that such effort should address the analysis of: how design consumption can help better comprehend consumers' needs; what are the implications of design thinking on the skill sets of design professionals; the organisational structure of firms, including the reconfiguration of other business functions, and their strategy; and whether and how design thinking can shape firms' value creation processes and contribute to the formalisation of design tasks. |
| Keywords: | Design; strategy making; consumers' needs; value creation; literature review; firm competitiveness; research gaps |
| Date: | 2014–01–28 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-00936947&r=ppm |
| By: | Matthew Ryan (The University of Auckland); Flávio Menezes (School of Economics, The University of Queensland) |
| Abstract: | This paper models a Public-Private Partnership (PPP) to construct a highway. It captures some of the key features of the Transmission Gully PPP. The winner of the tender recovers its costs (including capital costs) via an availability payment rather than toll revenue. While the availability payment eliminates demand risk, the winner of the tender faces cost risk: maintenance costs are only learned after construction is complete. The winning firm can make investments during the construction phase that reduce subsequent maintenance costs. As the government faces transaction costs to replace the successful bidder, firms use debt strategically to pass on some of the cost risk to the government. This distorts incentives to invest in maintenance cost reduction. Private financing therefore undermines some of the benefits from bundling construction and maintenance, which is often mentioned as an important advantage of PPPs. |
| Date: | 2014–02–05 |
| URL: | http://d.repec.org/n?u=RePEc:qld:uq2004:499&r=ppm |
| By: | Hubert De La Bruslerie (DRM - Dauphine Recherches en Management - CNRS : UMR7088 - Université Paris IX - Paris Dauphine) |
| Abstract: | The analyses of the tender offer premiums and of the means of payment should not be performed separately. In the empirical literature, these two variables are often considered independently, although they may have an endogenous relationship in a contractual setting. Using a sample of European M&As over the 2000-2010 decade, we show that these two variables are jointly set in a contractual empirical approach. The relationship between the percentage of cash and the offer premium is positive: higher premiums yield payments with more cash. We highlight that the payment choice is not a continuum between full cash and full share payments. Two different regimes of payment in M&A transactions are empirically characterized. We analyze the major determinants of M&A terms when the offer premium and the means of payment are jointly set. The underlying rationale of an asymmetry of information and a risk-sharing calculus is found to be significant in the setting of the agreement. |
| Keywords: | M&A, takeover premium, means of payment, contract setting |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00937550&r=ppm |
| By: | Gulnara A. Minnigaleeva (National Research University Higher School of Economics) |
| Abstract: | This paper discusses the strategy and success factors of development of age-friendly programs in the City of Tuymazy and Republic of Bashkortostan, Russian Federation, as a part of the Global Age-Friendly Project of World Health Organization. A research followed by a small grass root initiative led to development of a large regional program with 21 municipalities involved. The key success factors included: creating an agency to trigger, promote and implement age-friendly practices; establishing partnerships with government and other organizations in the area; building and maintaining media and public relations; building on culture; expanding and encouraging civic engagement; starting small; providing recognition and credit. Building awareness and partnerships is vital for advancing age-friendly programs. With multiple stakeholders involved it is important to maintain regular communications conduct information sessions and stick to the planning and reporting schedule. For continuity and sustainability of a large scale project it is essential to hire paid staff |
| Keywords: | Age-friendly Cities, Ageing Policies, Nongovernmental Organizations, Community Development, Social Policies, Nonprofit-Government Partnerships, Municipalities, Quality of Life, Welfare, Russia |
| JEL: | H75 I31 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:12/pa/2014&r=ppm |
| By: | Marie Renner |
| Abstract: | As policy makers assess strategies to reduce greenhouse gas emissions (GHG), they need to know the available technical options and the conditions under which these options become economically attractive. Carbon Capture and Storage (CCS) techniques are widely considered as a key option for climate change mitigation. But integrating CCS techniques in a commercial scale power plant adds significant costs to the capital expenditure at the start of the project and to the operating expenditure throughout its lifetime. Its additional costs can be offset by a sufficient CO2 price but most markets have failed to put a high enough price on CO2 emissions: currently, the weak Emission Unit Allowances price threatens CCS demonstration and deployment in the European Union (EU). A different dynamic is rising in China: a carbon regulation seems to appear and CCS techniques seem to encounter a rising interest as suggest their inclusion in the 12th Five-Year Plan and the rising number of CCS projects identifies/planned. However, there are very few in-depth techno-economic studies on CCS costs. This study investigates two related questions: how much is the extra-cost of a CCS plant in the EU in comparison with China? And then, what is the CO2 price beyond which CCS power plants become more profitable/economically attractive than classic power plants, in the EU and in China? To answer these questions, I first review, analyze and compare public studies on CCS techniques in order to draw an objective techno-economic panorama in the EU and China. Then, I develop a net present value (NPV) model for coal and gas plants, with and without CCS, in order to assess the CO2 price beyond which CCS plants become the most profitable power plant type. This CO2 value is called CO2 switching price. I also run some sensitivity analyses to assess the impact of different parameter variations on this CO2 switching price. I show that CCS power plants become the most profitable baseload power plant type with a CO2 price higher than 70 €/t in the EU against 30 €/t in China, without transport and storage costs. When the CO2 price is high enough, CCS gas plants are the most profitable power plant type in the EU whereas these are CCS coal plants in China. Through this study, I advise investors on the optimal power plant type choice depending on the CO2 market price, and suggest an optimal timing for CCS investment in the EU and China. |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:cec:wpaper:1402&r=ppm |