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on Project, Program and Portfolio Management |
| By: | Gianluca Misuraca (European Commission – JRC); Giulio Pasi (European Commission – JRC); Dimitri Gagliardi; Fabienne Abadie (European Commission – JRC) |
| Abstract: | This issue of the ‘JRC Insights’ discusses how ICT-enabled social innovation initiatives that promote social investment through integrated approaches to social services delivery can contribute to the policy objectives of the EU Social Investment Package. Digitally-enhanced social service delivery can promote social investment. ICTs often play a game-changing role in the development of platforms that support innovative partnerships. Here, social challenges can be addressed by focusing on two objectives: (i) the modernisation of social protection systems in the EU Member States and, (ii) promoting experimental approaches to innovation-driven social investments. Modernisation and experimentation in social protection systems has been revived by the emergence of a new type of business, private or not for profit, in the field of social services. These businesses explore or even co-create innovative financial instruments. In particular, evidence gathered shows that ICT-enabled social innovation initiatives respond to the social needs of society or specific groups in society by facilitating co-creation and co-production processes. These processes enrich policy design with stakeholders' specific knowledge and competencies. ICT-enabled social innovation initiatives have the capacity to identify emerging or unmet needs, engage stakeholders and turn their governance models into sustainable production processes. This aspect makes their contributions to social investment approaches particularly apt. |
| Keywords: | Social investment, social policy innovation, SIP, Social Investment Package, social economy, social enterprise, ICT enabled social innovation, ICT, services, social protection, social welfare |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc105678&r=ppm |
| By: | Shahryar Afra (Cambridge Resources International Inc.) |
| Abstract: | In this study a project model is built to conduct an appraisal and sensitivity analysis of a gold mine. At the same time, the most up to date modeling standard, known as FAST (i.e., Flexible, Appropriate, Structured, and Transparent), is implemented. The purpose of choosing this standard is to identify the strengths and weaknesses that may result from the implementation of this methodology for the modeling project appraisals. The FAST standard noticeably reduces the rate of error, while the speed of modeling and the appraisal of investment projects increase noticeably. The results of the analysis using FAST also becomes more communicable after implementing this standard. An important conclusion of the appraisal is that the royalty rates charged by governments on the extraction of gold are found to be too insensitive to the magnitude of the financial surplus generated by a specific mine. In particular, our study suggests that even if the royalty rates are increased up to six times, the project still generates a positive financial net present value for the mine owners. According to this finding it should be a public finance priority to redesign the systems for setting royalty rates in mineral producing countries that would allow host countries to benefit more from high return investments while at the same time not damaging the financial viability of higher cost natural resource extraction projects. |
| Keywords: | Investment Appraisal, Royalty Rates, Gold Mine, FAST Modeling Standard, Financial and Sensitivity Analysis |
| JEL: | L72 D61 H43 L78 |
| Date: | 2017–07 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:304&r=ppm |
| By: | Neyestani, Behnam; Juanzon, Joseph Berlin P. |
| Abstract: | This paper provides a significant contribution to the knowledge by identifying the impact of ISO 9001 implementation on the most vital factors of project management within large scale (AAA) construction firms in Metro Manila, Philippines. Thus, the study was accomplished an extensive literature review for identifying the main factors of project management, ISO 9001 standard, and other concepts, for developing an appropriate survey instrument. Then the questionnaires were distributed randomly among selected ISO 9001:2008-certified projects of large-scale (AAA) construction firms. For data analysis, the study adopted the descriptive and inferential statistics analysis, in order to find the results and conclusions. Lastly, the findings indicated that ISO 9001 certification can statistically affect the two main factors of project management, except time length of projects in Metro Manila, Philippines. |
| Keywords: | Cost of Project, Critical Factors, ISO 9001, and Project Management. |
| JEL: | H43 L15 L74 O22 |
| Date: | 2017–01–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76602&r=ppm |
| By: | Neyestani, Behnam |
| Abstract: | The general aim of the study was to identify the effects of ISO 9001 certification on project success, and its main criteria into large-scale construction companies in Metro Manila, Philippines. For this aim, the research was conducted an in-depth literature review for identifying the main variables first. Subsequently, a survey questionnaire was designed, and distributed randomly among 67 managers working in ISO 9001:2008-certified projects of large-scale construction firms. Then the descriptive and inferential statistics analysis employed, in order to find the results and conclusions. Finally, the findings revealed that ISO 9001 certification can significantly affect the construction project success and its main criteria, except time length of projects in Metro Manila, Philippines |
| Keywords: | ISO 9001 Certification; Construction Project Success; Construction Quality; Quality Management System; Customer's satisfaction |
| JEL: | L74 M11 O22 |
| Date: | 2016–11–02 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:76604&r=ppm |
| By: | Glenn P. Jenkins (Queen's University, Canada and Eastern Mediterranean University, North Cyprus); Mikhail Miklyaev (JDINT’L Executive Programs Department of Economics, Queen’s University, Canada and Cambridge Resources International Inc.); Shahryar Afra (Cambridge Resources International Inc.); Majid Hashemi (Cambridge Resources International Inc.) |
| Abstract: | Recently enforced Public Investment Law (PIL) provides a strong basis for the enhancement of the PIM system’s efficiency, however, the implementation of the PIL is progressing slowly. Quang Ninh province has been selected for an analysis of the practical difficulties authorities face in complying with PIL requirements, particularly in the preparation of investment intention reports. Discussions with provincial authorities revealed two major constraints: 1. lack of an investment intention report template and guidelines; 2. absence of methodologies and guidelines on the preliminary assessment of the socio-economic effectiveness of PIPs. The efficiency of the PIM system in Vietnam can only be improved if the investment intention reports prepared by project promoters are to form the basis for technical analysis of PIPs. The major component of technical analysis is an evaluation of PIP socio-economic returns. This evaluation should be done using CBA methodologies formulated from basic principles of applied welfare economics. The results of technical analysis must drive the project approval (or rejection) process, in sharp contrast to the current practice of approving projects to be included in regional development master plans before due diligence has been carried out. |
| Keywords: | Public Investment Law, Cost benefit analysis, Vietnam |
| JEL: | E22 G11 H54 G3 |
| Date: | 2017–08 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:305&r=ppm |
| By: | Mikhail Miklyaev (JDINT’L Executive Programs Department of Economics, Queen’s University, Canada and Cambridge Resources International Inc.); Shahryar Afra (Cambridge Resources International Inc.); Melani Schultz (International Development Group) |
| Abstract: | This paper presents the findings of the CBA of Rwanda’s work with the dairy value chain (VC). The analysis looks at evaluating the recent Feed the Future (FtF) activities implemented under the Rwanda Dairy Competitiveness Program II (RDCP II). It was discovered that the USAID investments have resulted in an increase in the annual incomes of dairy farmers by more than 40%. The analysis has also revealed that because of project interventions, the VC has reached a stage when investments in dairy farming are financially feasible without government or other donors support. The consumer gains are estimated at US$ 18.83 million. Following the successful piloting of activities aimed at boosting domestic production of butter, cheese, and yogurt under the RDCP II project, it is recommended that future USAID interventions focus on increasing the market for raw milk. |
| Keywords: | cost-benefit analysis, investment appraisal, stakeholder analysis, dairy value chain, marketing, Rwanda. |
| JEL: | D13 D31 D61 D62 E23 H42 |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:299&r=ppm |
| By: | Mikhail Miklyaev (JDINT’L Executive Programs Department of Economics, Queen’s University, Canada and Cambridge Resources International Inc.); Shahryar Afra (Cambridge Resources International Inc.); Melani Schultz (International Development Group); Adeline Awantang (International Development Group); Mathilde Laval (International Development Group) |
| Abstract: | This paper presents the findings of the CBA of Mali’s work with the sorghum and millet value chains (VCs). The analysis looks at evaluating the recent Feed the Future (FtF) activities implemented under the Africa RISING’ large-scale diffusion of technologies for sorghum and millet systems (ARDT_SMS). It is seen that ARDT_SMS project has produced positive economic returns, with an ERR of 24 percent and an ENPV of USD 14.33 million. The annual income of the millet farmers has increased from 27 to 126 USD/ha. In the sorghum VC the annual income of farmers has increased from 50.0 USD/ha to 115.0 USD/ha. Another important finding of the analysis is that significant fiscal savings due to reduced subsidy on fertilizers can be attributed to the project. The annual fiscal savings for the GoM from reduced subsidy requirement are estimated at 816,011 USD. The PV over project life amounts to 6.8 mill USD. Moreover, positive environmental impacts can be attributed to the project due to the reduced fertilizer consumption |
| Keywords: | cost-benefit analysis, investment appraisal, stakeholder analysis, Sorghum and Millet value chain, marketing, Mali |
| JEL: | D13 D31 D61 D62 E23 H42 |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:300&r=ppm |
| By: | Cesare Dosi (University of Padova and Centro di Ricerca Interuniversitario sull’Economia Pubblica (CRIEP)); Michele Moretto (University of Padova and Fondazione Eni Enrico Mattei (FEEM)) |
| Abstract: | Drawing on the real-options theory we analyse bidding behaviour in a sealed-bid-first-score procurement auction where suppliers, facing variable production costs, must simultaneously report the contract price and the cost level at which they intend to perform the project. We show that this award mechanism is potentially able to maximize total welfare. Next we look at the time incentives required to ensure compliance with the promised optimal trigger value. We show that ex-post efficiency may call for delay penalties higher than the anticipated harm caused by time overruns, in so doing questioning the efficiency rationale of existing liquidated damages rules. |
| Keywords: | Public Procurement, Fixed-price Contracts, Real Options, Time Overruns, Scoring Auctions, Liquidated Damages |
| JEL: | C61 D44 D86 K12 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:fem:femwpa:2017.02&r=ppm |