|
on Project, Program and Portfolio Management |
| By: | Bergantiños, Gustavo; Lorenzo, Leticia |
| Abstract: | A planner wants to carry out a project involving several firms. In many cases the planner, for instance the Spanish Administration, includes in the contract a penalty clause that imposes a payment per day if the firms do not complete their activities or the project on time. We discuss two ways of including such penalty clauses in contracts. In the first the penalty applies only when the whole project is delayed. In the second the penalty applies to each firm that incurs a delay even if the project is completed on time. We compare the two penalty systems and find that the optimal penalty (for the planner) is larger in the second method, the utility of the planner is always at least as large or larger in the second case and the utility of the firms is always at least as large or larger in the first. Surprisingly, the final delay in the project is unrelated to which penalty system is chosen. |
| Keywords: | game theory; PERT; delays; penalties |
| JEL: | C72 |
| Date: | 2019–01–25 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:91718&r=all |
| By: | Sounman Hong; Jungmin Ryu |
| Abstract: | This study explores the potential of crowdfunding as a tool for achieving citizen co-funding of public projects. Focusing on philanthropic crowdfunding, we examine whether collaborative projects between public and private organizations are more successful in fundraising than projects initiated solely by private organizations. We argue that government involvement in crowdfunding provides some type of accreditation or certification that attests to a project aim to achieve public rather than private goals, thereby mitigating information asymmetry and improving mutual trust between creators (i.e., private sector organizations) and funders (i.e., crowd). To support this argument, we show that crowdfunding projects with government involvement achieved a greater success rate and attracted a greater amount of funding than comparable projects without government involvement. This evidence shows that governments may take advantage of crowdfunding to co-fund public projects with the citizenry for addressing the complex challenges that we face in the twenty-first century. |
| Date: | 2019–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1902.02480&r=all |
| By: | Jean-Claude Berthelemy (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Arnaud Millien (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper is the first product of a project which aims to build a Collaborative Smart Mapping of Mini-grid Action (CoSMMA), whose principal objective is to identify best practice in decentralized electrification projects. By evaluation of 421 projects, from published research papers, we have built a pilot CoSMMA which proves its feasibility. Its relevance is demonstrated by a meta-analysis, which reveals the principal characteristics of decentralized electrification projects which have positive impacts on sustainable development. Four main characteristics were considered: technology (source or energy), system size (power), decision level (from local to country level), geographic location. When searching for best practice, technology and system size must be considered together, because the chosen technology may constrain the power, which is provided by the system. We find that the most popular projects, which are based on Solar Home Systems (SHS) are not the most effective. The problem with SHS is not the use of solar energy, but the small system size often chosen for SHS. Mini-grids, of larger size, especially those which use hybrid renewable sources of energy, have more positive impacts, because these systems combine the benefits of sustainability and flexibility. In terms of decision level, we find that both top-down and bottom-up approaches have advantages, with the observation of a U-shaped curve for the influence of the decision level on the probability of obtaining positive impacts. Geographical location matters, as it is very often the key to system feasibility. We find that DEPs are more effective in Latin America than in Asia, and more effective in Asia than in Africa. We also attempted to study the type of effects resulting from DEPs. Descriptive data suggest that for some types of effects, positive impacts are more likely than for others. Decentralized electrification projects have a more positive impact on Lifestyle & NICT or Household agenda than on Economic transformation or Community life. However, this pilot CoSMMA does not contain enough information to study precisely the types of effects, because some types of effects have not been studied frequently in the existing literature. This is the case, for instance, for environmental effects, which have been rarely measured scientifically. Finally, we attempted to broaden our information set by including expert data, which was entered into the CoSMMA meta-analysis. We define expert data as data that are not supported by statistical tests with measures of significance, whereas the evaluations based on scientific data were supported by statistical tests of significance. The expert data may be valid, but our attempt to include it in the analysis failed at this stage. The determinants of unproven effects appear to be quite different from the determinants of proven effects in our meta-analysis, and using expert data would imply merging proven and unproven effects, which would totally blur the conclusions. |
| Keywords: | Decentralized electrification,sustainable development,impact assessment,meta-analysis |
| Date: | 2018–11–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01922517&r=all |
| By: | O. A. Malafeyev; A. N. Malova; A. E. Tsybaeva |
| Abstract: | All people have to make risky decisions in everyday life. And we do not know how true they are. But is it possible to mathematically assess the correctness of our choice? This article discusses the model of decision making under risk on the example of project management. This is a game with two players, one of which is Investor, and the other is the Project Manager. Each player makes a risky decision for himself, based on his past experience. With the help of a mathematical model, the players form a level of confidence, depending on who the player accepts the strategy or does not accept. The project manager assesses the costs and compares them with the level of confidence. An investor evaluates past results. Also visit the case where the strategy of the player accepts the part. |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1901.08772&r=all |
| By: | Fabre, Anaïs; Straub, Stéphane |
| Abstract: | This paper summarizes what is known about the impact of Public-Private Partnerships (PPPs) in infrastructure (energy, transport, water and sanitation, and telecommunications), education, and health. It reviews evaluations of the effectiveness of PPPs and, whenever possible, the implications for coverage and affordability. For infrastructure, there is some evidence of PPPs leading to gains in labor productivity, as most transitions to private participation have entailed significant labor downsizing, but only mixed support for improvements in total factor productivity or quality, coverage, and affordability. Selection issues plague most available studies, calling for caution when considering the conclusions. For education, micro-level studies shows that PPPs have the potential to increase enrollment and respond to a growing demand for education, but that their impact on educational outcomes appears to depend greatly on the institutional details and the scale of the programs considered. Finally, PPPs appear to be likely to increase socio-economic and ethnic segregation in education systems. Finally, there is inconclusive evidence of an impact of PPPs on health service utilization, the quality of services, patient satisfaction and health-related outcomes. The review points to the need to identify the reasons for service under-utilization, such as lack of information on the side of users, poor quality of services, before implementing interventions, and to combine demand- and supply-side policies if needed. Overall, more work appears to be due to rigorously evaluate the impact of PPPs, especially regarding infrastructure and health. |
| Keywords: | Public private partnership; evaluation; infrastructure; education; health |
| JEL: | H54 I11 I21 L33 |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:tse:wpaper:33287&r=all |
| By: | Elisabetta Cornago (OECD); Alexandros Dimitropoulos (OECD); Walid Oueslati (OECD) |
| Abstract: | The purpose of this study is to investigate the effect of congestion pricing on the demand for clean transport modes. To this end, it draws on an empirical analysis of the effect of Milan’s congestion charge on the use of bike sharing. The analysis indicates that congestion pricing increases daily bike-sharing use by at least 5% in the short term. Extending the schedule of the congestion charge in the early evening increases bike-sharing use in the affected time window by 12%. The impact of the policy on bike-sharing use mainly occurs through the reduction of road traffic congestion, which makes cycling safer and more pleasant. The findings of the study indicate that policies aiming to reduce car use also have positive repercussions on the uptake of green mobility options. Relying solely on direct incentives for cycling, which often involve infrastructure projects, is likely insufficient to remove barriers to bike use. |
| Keywords: | bike sharing, Congestion pricing, sustainable mobility, urban road pricing |
| JEL: | Q58 R41 R48 |
| Date: | 2019–02–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:143-en&r=all |
| By: | Joelle Noailly; Roger Smeets |
| Abstract: | The objective of this study is to examine the impact of firms’ financing constraints on innovation activities in renewable (REN) versus fossil-fuel (FF) technologies. Our empirical methodology relies on the construction of a firm-level dataset for 1,300 European firms over the 1995-2009 period combining balance-sheet information linked with patenting activities in REN and FF technologies. We estimate the importance of the different types of financing (e.g. cash flow, long-term debt, and stock issues) on firms’ patenting activities for the different samples of firms. We use count estimation techniques commonly used for models with patent data and control for a large set of firm-specific controls and market developments in REN and FF technologies. We find evidence for a positive impact of internal finance on patenting activities for the sample of firms specialized in REN innovation, while we find no evidence of this link for other firms, such as firms conducting FF innovation or large mixed firms conducting both REN and FF innovation. Hence, financing constraints matter for firms specialized in REN innovation but not for other firms. Our results have important implications for policymaking as the results emphasize that small innovative newcomers in the field of renewable energy are particularly vulnerable to financing constraints. |
| Keywords: | R&D;.; Financing constraints; renewable energy |
| JEL: | O14 O33 Q41 Q42 |
| Date: | 2019–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:gii:ciesrp:cies_rp_58&r=all |