nep-ppm New Economics Papers
on Project, Program and Portfolio Management
Issue of 2018‒10‒08
six papers chosen by
Arvi Kuura
Tartu Ülikool

  1. The Limitations of the Conceptual Framework of the Heterogeneous Engineer for Leadership in Megascience Projects By David Eggleton
  2. Personal And Social Proximity: Shaping Leadership In A Free Software Project By Clement Bert-Erboul; Nicholas S. Vonortas
  3. Innovative Open Spaces Impact on New Product Development Teams By Hélène Sicotte; Andrée De Serres; Hélène Delerue; Virginie Ménard
  4. Public Private Partnerships Vs. Traditional Roads Project Delivery Time, Costs and Quality By Ram Singh
  5. Public Development Banks and Credit Market Imperfections By Marcela Eslava; Xavier Freixas
  6. Crowdfunding in a duopoly under asymmetric information By Miglo, Anton

  1. By: David Eggleton (SPRU, University of Sussex, UK)
    Abstract: The concept of the ‘heterogeneous engineer’, devised by Krige (2001) offers the intriguing possibility of applying a concept devised in the history of science literature to the academic study of leadership. This study sought to use the heterogeneous engineer as a conceptual framework to develop wider leadership theory. Two case studies were selected – the Tevatron at Fermilab in the United States and the Large Hadron Collider (LHC) at CERN on the Franco-Swiss border. The LHC was of particular interest because Carlo Rubbia, identified by Krige (2001) as a classic heterogeneous engineer, played a leading role in its conception. However, the results of this study indicate that Carlo Rubbia is a relative anomaly within the context of scientific leadership and therefore the heterogeneous engineer is an inappropriate construct for the development of wider leadership theory. The paper also identifies and describes the generalised characteristics of leaders in megascience projects as a starting point for future work in this field.
    Keywords: Megaprojects, big science, leadership, project management, research infrastructure
    Date: 2018–09
  2. By: Clement Bert-Erboul (University of Campinas); Nicholas S. Vonortas (National Research University Higher School of Economics)
    Abstract: Open software projects are usually portrayed by focusing on charismatic leaders, friendly communities, and meritocratic language. We dig under the surface of this stereotypical picture and analyse the social relationships of the people involved; specifically, whether they are related through personal proximity or they are distant social partners. We contribute to the literature on free/open source innovation in three ways. First, we highlight the continuum of roles played by individual leaders in the open source project, as brokers and/or initiators. Second, we delve deeper in the social networks of the Videolan software community to layout where and how leaders are organised in groups and play the role of brokers and initiators. We study leadership emergence over time by taking into account the context of activities. Finally, we produce a typology of three Videolan communities with specific social networks that evolved over time in terms of leaders and social structure
    Keywords: Open source, community, leadership, social network, proximity, computer software
    JEL: D90 L86
    Date: 2018
  3. By: Hélène Sicotte; Andrée De Serres; Hélène Delerue; Virginie Ménard
    Abstract: It is a new trend in knowledge-based industries to pay attention to the physical and social aspects of their office. Workspaces for new product development (NPD) teams are meant to support creativity and innovation (Coradi et al., 2015). Our research objective is to further explore the relationship between project teams and their workspaces. Indeed ""As leaders consider their workspace needs, they should be informed of workspace fads versus workspace intent"" (Blakey, 2015, p. 107).Certain characteristics of a space stand out as having significant impact: the modularity of elements that make up meeting rooms and individual workspaces, the possibility of transforming spaces according to needs and work styles, and the connectivity and intelligence of spaces (Vischer, 2008). Employees are also affected by density, the proximity of team colleagues, privacy and control over one's environment. Kristensen (2004) concludes that spaces affect individuals' well-being, impact channels of communication and the availability of knowledge tools, and influence coherence and continuity. McElroy and Morrow (2010) argue that changing a workplace layout can have a number of positive impacts. It can nurture lateral relationships among individuals on the same team or different teams, which in turn fosters innovation and creativity. To summarize, the literature points to positive effects between the physical and architectural characteristics of the space dedicated to project teams. Part of this influence is supposed to come from the impact on communication and collaboration (aggregated to team integration) between members and sub-teams, which improves their creativity and effectiveness. We report here the results of survey of ten teams in the same companie but different locations. The tested model includes two dependent variables: team creativity and effectiveness and a mediating variable: team integration. The independent variables are space variety, interior environment quality, satisfaction with large meeting room, project commitment, IT environment, workstation. Control variable is team size. The Cronbach's alpha are good ranging from 74.1 to 87.6. Our main results support the literature: the impact of innovative spaces on the efficiency and creativity of teams go through their effect on integration (measured by collaboration and communication).
    Keywords: corporate property management; Innovation; Open Space; team-based workplace; workplace creativity
    JEL: R3
    Date: 2018–01–01
  4. By: Ram Singh (Department of Economics, Delhi School of Economics)
    Abstract: The Public Private Partnerships (PPPs) have become a mainstay of plans of the Centre and the State governments towards infrastructure development. In this article, we discuss the various considerations behind the rampant use of PPPs for infrastructure services. Next, we empirically examine a widely held belief that PPPs are better than the traditional approach towards infrastructure in that they can deliver superior quality infrastructure at a faster rate and lower costs. Using a dataset of 313 national highways projects, we compare the performance of the PPP and the traditional government (non-PPP) road projects. We show that the project delays are relatively short for PPPs, but the cost overruns are significantly higher for PPP roads than for the government managed road projects. The available evidence suggests that the quality of PPP roads is superior to the government roads. However, the overall quality of road services under PPPs is deficient on several counts.
    Date: 2018–09
  5. By: Marcela Eslava; Xavier Freixas
    Abstract: Which projects/firms should be the target of lending by a Public Development Bank (PDB)? What is the optimal design for the PDB’s loans, and the optimal structure for delivering them? We analyze these questions in the context of a model where screening is costly to banks and underprovision of credit results from the inability of banks to appropriate the full benefits of projects they finance, more pronounced for high value projects. PDB intervention arises as a natural alternative to alleviate this inefficiency, since it originates in a failure in the private provision of credit. Lending to commercial banks at subsidized rates or providing credit guarantees, targeting the firms that generate high added value, are valid policy alternatives. Though in normal times PDB lending and credit guarantees are shown to be equivalent, lending is preferred when banks are facing a liquidity shortage, while a credit guarantees program is preferred when banks are undercapitalized. Direct lending by the PDB to the targeted industries could be superior to these subsidies to private lending, but only if the PDB’s corporate governance is strong enough for public credit to respond to efficiency considerations rather than political concerns. PDB intervention naturally addresses credit underprovision stemming from failures directly affecting financial institutions, but it can also alleviate that arising from firm’s moral hazard or insufficient access to collateral.
    Keywords: Public development banks; governmental loans and guarantees; costly screening; credit rationing.
    JEL: H81 G20 G21 G23
    Date: 2018–09–27
  6. By: Miglo, Anton
    Abstract: Traditionally crowdfunding has been used for funding very innovative projects. Recently, however, companies have begun using crowdfunding to finance more traditional products where they compete against other sellers of similar products. One of the major platforms Indiegogo launched several projects consistent with this trend. This paper offers a model of a duopoly where firms can use crowdfunding prior to direct sales. The model is based on asymmetric information between competitors regarding the demand for the product. It provides several implications that have not yet been tested. For example we find that high-demand firms can use crowdfunding to signal their quality.
    Keywords: crowdfunding, asymmetric information, reward-based crowdfunding, duopoly, signalling
    JEL: D43 D82 G32 L11 L13 L26 M13
    Date: 2018

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