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on Project, Program and Portfolio Management |
| By: | Agathe Gilain (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Pascal Le Masson (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique); Benoît Weil (CGS i3 - Centre de Gestion Scientifique i3 - MINES ParisTech - École nationale supérieure des mines de Paris - PSL - PSL Research University - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Central in this paper is a puzzling innovation project involving the introduction of a new machine in an assembly plant in the aviation industry. The project drew our attention because it achieved remarkably high performance results despite being launched with a negative business case. The observed performance trend neither corresponds to uncertainty reduction nor results from a pure investment in the unknown: we demonstrate that this case is an anomaly with regards to investment decision-making logics and learning dynamics (Learning by Doing) which traditionally explain performance gains. We find that the dynamics at work were made possible by an original and rigorous managerial approach adopted to address the significant presence of unknown at project launch and during project deployment. Based on this case study, we identify three principles respectively aiming at guiding investment decisions, at (economically) managing projects and at organizing learning in the unknown. The first principle recommends to keep using the classical economic tools (e.g. business cases) which advise against the project, but in a "diverted" way, i.e. as a means to keep the losses under control in case of failure. The second one suggests to clearly set in the team's mission the objective to discover new performance variables. The third one proposes to deploy a learning strategy related to the newly-discovered variables that is based on the very objective to build profitability and turn the project into a profitable one. |
| Date: | 2018–07–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-01900961&r=ppm |
| By: | Marco Buso (University of Padova); Cesare Dosi (University of Padova); Michele Moretto (University of Padova) |
| Abstract: | We study the effects of granting an exit option that enables the private party to early terminate a PPP project if it turns out to be loss-making. In a continuous-time setting with hidden information about stochastic operating proï¬ ts, we show that a revenue-maximizing government can optimally trade-off direct subsidies for capital investment against the right of opting out the PPP. In particular, the exit option, acting as a risk-sharing device, can soften agency problems and increase the value-for-money of public spending, even while taking into account the budgetary resources needed to resume the project in the event of early termination by the contractor. |
| Keywords: | Public projects, Public-private partnerships, Adverse selection, Real options, Investment timing, Termination fees |
| JEL: | D81 D82 D86 H54 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:pad:wpaper:0227&r=ppm |
| By: | Ronette Briefel; Micah Melia; Bonnie Harvey; Sarah Forrestal; Gregory Chojnacki; Pia Caronongan; Andrew Gothro; Charlotte Cabili; Rebecca Kleinman; Vivian Gabor; Nicholas Redel; Philip Gleason |
| Abstract: | USDA funded innovative strategies to end child hunger and food insecurity, and an independent, rigorous impact evaluation―the Evaluation of Demonstration Projects to End Childhood Hunger. This report describes the planning, early implementation, and baseline findings for the demonstrations. |
| Keywords: | childhood hunger, food security, nutrition assistance, demonstration project |
| JEL: | I0 I1 |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:bd47848e99584631827d4385da2a2943&r=ppm |
| By: | Robert Fornango; Gina M. Tignini; Cindy Strickland; Rochelle Malinoff; Michael Lichter; Ravee Nithianandam; Nikhil Nagaraj; Bin Gu; Jason Martindale; Sunny Bateman; Julia Lewis; Malissa Mojica; Brian Starr; Valerie Cheh; Suzanne Felt-Lisk; Jelena Zurovac; Keith Kranker; Jessica Heeringa; Lori Timmins; Andrea Wysocki; Javier Rodriguez; Linda Barterian; Mariel Finucane; Arnold Chen; Catherine McLaughlin; Kirsten Barrett; Tyler Fisher; Lauren Vollmer; Alex Bryce; Boriana Pratt |
| Abstract: | This is an interim evaluation report for the Partnership for Patients (PfP) campaign. The goals of the evaluation were to assess the reduction in inpatient harms and readmissions during the period 2011–2014, and to assess, if possible, the contribution that PfP made to those reductions. |
| Keywords: | Partnership for Patients, inpatient harms and readmissions |
| JEL: | I |
| URL: | http://d.repec.org/n?u=RePEc:mpr:mprres:eaad3859e28a4cc2bcb8141991fec223&r=ppm |