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on Project, Program and Portfolio Management |
| By: | Sophie Hooge (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris); Cédric Dalmasso (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris) |
| Abstract: | In competitive industries, intensive innovation is a recognized necessity (Wheelwright and Clark, 1992; Le Masson et al., 2010). One success factor of breakthrough R&D projects lies in the knowledge articulation between innovation definition phases, composed of fuzzy front-end (FFE) and innovative new product development (NPD) stages (Koen et al, 2002; Cooper et al, 2001), and industrial development processes. Then, central issue for innovation projects managers becomes internal R&D stakeholders’ management (Elias et al., 2002) and sustainable learning dynamics across the two parts of the organization (O’Connor, 2008). Our paper fits into this research gap for local breakthrough R&D in the dominant design. We discuss the role of technical expertise level of NDP stakeholders involved in early stages of innovative projects. The research mobilized two longitudinal studies (Yin, 1989) carried out with a global car manufacturer through collaborative management research (Radaelli et al., 2012) since 2005, one focusing on the FFE management, while the other was devoted to learning dynamics of engineering development departments. A cartography of the internal network of breakthrough R&D (Mitchell et al, 1997) underlined a stable organizational network across projects. Nevertheless, a quantitative analysis of accounting data on 8 projects highlights important dynamics of involvement or dis-engagement within the network. The analysis showed that the accounting reporting at the portfolio level used to hide to top-managers the heterogeneity and depth of resources dynamics at the project level. The impacts of local breakthrough R&D on the engineering development organization was similar to waves: some stakeholders, who played roles of experts, spokespersons or innovation design strategists, were able to involve quickly the individuals to maintain the project progress, sometime generating an over-commitment on innovation projects. At the opposite, a lack of trust of the design partners generated withdrawal of resources that needed a strong stakeholder management to be prevented. |
| Keywords: | Breakthrough R&D, Stakeholders management , Commitment |
| Date: | 2015–06–17 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01202541&r=all |
| By: | Geraldine Barker; Grace Beardsley; Annie Parsons |
| Abstract: | The UK National Audit Office (NAO) scrutinises public spending on behalf of Parliament, helping it to hold government departments to account and helping public bodies improve performance and delivery. We publish around 60 value for money studies each year across a range of government activities, of which, around three of these usually cover transport topics. Our reports look at how government projects, programmes and initiatives have been implemented and make recommendations on how it can be improved. Our value for money work is not strictly ex-post assessment in the usual sense of assessing a programme once it has been in operation for some time. Due to the length of time needed to complete major transport investments and our remit to focus on accountability, we often carry out an assessment of a project before its completion. In some cases, particularly for significant infrastructure investments, a series of value for money reports is appropriate as the programme will develop over time. These tend to focus on how the programme is being delivered, in terms of the planning, procurement or construction phases of infrastructure projects. |
| Date: | 2014–08 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2014/12-en&r=all |
| By: | Robert Akerlof Author-1-Name-First: Robert Author-1-Name-Last: Akerlof (University of Warwick); Richard Holden Author-2-Name-First: Richard Author-2-Name-Last: Holden (UNSW Australia Business School) |
| Abstract: | Most projects, in most walks of life, require the participation of multiple parties. While it is difficult to unite individuals in a common endeavor, some people, whom we call “movers and shakers,” seem able to do it. The paper specifically examines moving and shaking of an investment project. We analyze a model with two types of agents: managers and investors. Managers and investors initially form social connections. Managers then bid to buy control of the project, and the winning bidder puts effort into raising awareness of the project among investors. Investors who become aware receive private signals of the project’s quality. Finally, they choose whether to invest in the project, whose return is a function both of its quality and aggregate investment. We characterize the equilibrium of this game, including the endogenously formed network structure and payoffs. We show that, while managers are identical ex ante, a single manager emerges as most connected; these connections confer the ability to increase aggregate investment (i.e., “move and shake” the project); he consequently earns a rent. In extensions, we move away from the assumption of ex ante identical managers to highlight various forces that lead one manager or another to become a mover and shaker. Finally, we explore various applications, including: entrepreneurship, funds management, and seed capital. |
| Keywords: | Global games, investment, network capital. |
| JEL: | D85 D20 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2015-18&r=all |
| By: | Daniel Albalate (Faculty of Economics, University of Barcelona); Germà Bel (Faculty of Economics, University of Barcelona); Richard R. Geddes (College of Human Ecology,Cornell University) |
| Abstract: | Public-Private-Partnerships are long-term, relational contracts between a public-sector sponsor and a private partner to deliver infrastructure projects across a range of economic sectors. Efficiency gains may derive from risk transfer and bundling different tasks within a single contract. We study the factors explaining the scope of bundling. We focus on the choice between weak vertical integration, which includes operational tasks alone or construction tasks alone, versus strong vertical integration, which involves the combination of operational and construction tasks. We utilize a new data set that includes 553 PPPs concluded in the U.S. between 1985 and 2013. |
| Keywords: | Privatization, Public–Private Partnerships, Contracting, Vertical Integration JEL classification: L14; L33; L51; L88 |
| Date: | 2015–09 |
| URL: | http://d.repec.org/n?u=RePEc:ira:wpaper:201518&r=all |
| By: | Giuseppe Gori; Patrizia Lattarulo (Istituto Regionale per la Programmazionae Economica della Toscana); Stefano Maiolo; Francesca Petrina; Piero Rubino (Unità di Valutazione degli Investimenti Pubblici, DPS-UVAL) |
| Abstract: | Quite often public projects’ design in Italy does not ensues a dedicated feasibility study, in spite of a legislative drive aimed at implementing their appraisal. Over the last decades several manuals have been released, both in Italy and abroad, without really achieving an operational status with reference to financial viability and the economic impact assessment of the projects. This Guide and its related software have been developed having in mind public decision makers willing to rely on an handy toolkit to carry-out a pre-feasibility study of a public project. The toolkit lends itself to the appraisal of projects funded either by public budget or under a Public-Private Partnership (PPP) scheme. Relying on the standard approach found in feasibility studies manuals, the package breaks up into several connected sections such as demand analysis, financial assessment and market values conversion into economic ones by means of imputed shadow prices. Since the application was purposely developed for the Tuscany context, some basic data entering the economic analysis were uniquely calibrated to that territory. However, financial analysis modules can equally be used to assess the feasibility of projects located elsewhere in Italy. The Guide recalls the main steps required in project evaluation by presenting a practical case study. It is complemented by two monographs: the first one, endowed with a more methodological trait, describes the approach used in the economic analysis, while the second one focuses on some of the characteristics, principles and operational issues in PPPs schemes. |
| Keywords: | valutation, public project |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:irp:msclln:526&r=all |
| By: | Jonathan Gifford; Lisardo Bolaños; Nobuhiko Daito |
| Abstract: | Public-private partnerships (P3s) typically rely on long-term contracts between participants. When conditions arise that fall outside the expectations embodied in the contract, one party may seek to renegotiate the contract terms. Globally, the frequency of P3 contract renegotiations has been sufficient to raise questions regarding why these events occur and what their consequences are for the projects and society. The literature highlights four relevant causes behind renegotiation occurrences: unexpected exogenous changes, the complexity of the contractual relationship, winner´s curse and rent seeking behavior. This study examines the US experience with highway P3 renegotiations, including four types of event: contract modifications, defaults, bankruptcies and buyouts. While the US highway P3 market has grown gradually, failure to understand renegotiations and their potential consequences may dampen the market and adversely affect national infrastructure investment efforts. The analysis finds that insufficient evidence exists to disentangle the drivers of renegotiation in the US, although exogenous changes and contractual relationship complexity appear to be paramount. The analysis highlights the distinct political and institutional environment that shapes highway P3 renegotiations in the US, suggesting the need for continuing and sensible analysis to effectively manage the undesirable consequences of renegotiations. |
| Date: | 2014–12 |
| URL: | http://d.repec.org/n?u=RePEc:oec:itfaab:2014/16-en&r=all |
| By: | Seong-Yun Jeong (Korea Institute of Civil Engineering and Building Technology) |
| Abstract: | The safety and quality of national road facilities must be guaranteed in the project implementation process. So the proper use of the construction standards in the project management planning process is a key success factor of a construction project. This study suggested a way for promote the use of the construction standards. For this purpose, this study was conducted to propose an information structure for construction standards based on WBS and CBS information structures used in the Standard for Digital Quantity Calculation of South Korea and the code numbering system of Korea Construction Standard. And the proposed structure was defined as XML schema so that the project participants could easily exchange or reuse the information and contents of the construction standards. |
| Keywords: | Project management planning, National road Construction, Construction standards, WBS, CBS, XML schema |
| JEL: | L74 O21 D80 |
| URL: | http://d.repec.org/n?u=RePEc:sek:ibmpro:3005345&r=all |
| By: | Balázs Murakozy (Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences); Almos Telegdy (National Bank of Hungary and Central European University) |
| Abstract: | Using application-level data on successful and rejected applications for the European Union’s Structural and Cohesion Funds between 2004 and 2012 in Hungary, we study which grant types are susceptible to political manipulation and how politicians achieve this goal. Using township fixed-effect estimators to attenuate the simultaneity bias between municipality characteristics and political affiliation, we find that townships with a mayor endorsed by the governing parties obtain 10 percent higher grant value per capita. This effect varies widely by grant attributes: it is of 16-19 percent when the applicant is a public entity or the project’s purpose is construction so it is visible to voters and thus may bring about electoral benefits. For private applications and non-construction grants, where electoral gains are likely to be limited, the estimated effect is zero. Decomposing the township alignment effect into grant application effects (application intensity and the average value of grant) and grant decision effects (grant success rate and proportion of grant value received) reveals that both margins play a role in the political manipulation of grant distribution. When analyzing the effect of grants on votes, we show that voters indeed reward construction and public projects. |
| Keywords: | Redistributive politics; Political alignment; European Structural Funds, Hungary |
| JEL: | D72 D78 H77 |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:has:discpr:1531&r=all |
| By: | Romain Boulongne (GROUPE HEC); Eva Boxenbaum (CGS - Centre de Gestion Scientifique - MINES ParisTech - École nationale supérieure des mines de Paris, Copenhagen Business School - Copenhagen Business School) |
| Abstract: | The present article examines the process of collective identity formation in the context of hybrid organizing. Empirically, we investigate hybrid organizing in a collaborative structure at the interface of two heterogeneous organizations in the domain of new renewable energies. We draw on the literature on knowledge sharing across organizational boundaries, particularly the notions of transfer, translation and transformation, to examine in real time how knowledge sharing in a hybrid setting contributes (or not) to the emergence of a new collective identity at the interface of two heterogeneous organizations. Our findings point to two factors that limit knowledge sharing and hence to new collective identity formation in a hybrid space: 1) ambiguous or multiple organizational roles and 2) strong identities of the collaborating organizations. These findings contribute to illuminating the initial formation of a new collective identity in hybrid organizing, and hence how new hybrid organizational forms may emerge non-intentionally. |
| Keywords: | hybrid organizing, collective identity, renewable energy |
| Date: | 2015–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01202515&r=all |