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on Project, Program and Portfolio Management |
| By: | Atif Ansar; Bent Flyvbjerg |
| Abstract: | How should government and business solve big problems? In bold leaps or in many smaller moves? We show that bespoke, one-off projects are prone to poorer outcomes than projects built on a repeatable platform. Repeatable projects are cheaper, faster, and scale at lower risk of failure. We compare evidence from 203 space missions at NASA and SpaceX, on cost, speed-to-market, schedule, and scalability. We find that SpaceX's platform strategy was 10X cheaper and 2X faster than NASA's bespoke strategy. Moreover, SpaceX's platform strategy was financially less risky, virtually eliminating cost overruns. Finally, we show that achieving platform repeatability is a strategically diligent process involving experimental learning sequences. Sectors of the economy where governments find it difficult to control spending or timeframes or to realize planned benefits - e.g., health, education, climate, defence - are ripe for a platform rethink. |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2206.08754&r= |
| By: | Viral V. Acharya; Cecilia Parlatore; Suresh Sundaresan |
| Abstract: | We examine the optimal financing of infrastructure when governments have limited financial commitment and can expropriate rents from private sector firms that manage infrastructure. While private firms need incentives to implement projects well, governments need incentives to limit expropriation. This double moral hazard limits the willingness of outside investors to fund infrastructure projects. Optimal financing involves government guarantees to investors against project failure to incentivize the government to commit not to expropriate which improves private sector incentives and project quality. The model captures several other features prevalent in infrastructure financing such as government co-investment, tax subsidies, development rights, and cross-guarantees. |
| JEL: | D82 G30 G32 G38 H20 H41 H44 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:30131&r= |
| By: | Aditya Kuvalekar; João Ramos; Johannes Schneider |
| Abstract: | Agents, some with a bias, decide between undertaking a risky project and a safe alternative based on information about the project's efficiency. Only a part of that information is verifiable. Unbiased agents want to undertake only efficient projects, while biased agents want to undertake any project. If the project causes harm, a court examines the verifiable information, forms a belief about the agent's type, and decides the punishment. Tension arises between deterring inefficient projects and a chilling effect on using the unverifiable information. Improving the unverifiable information always increases overall efficiency, but improving the verifiable information may reduce efficiency. |
| Keywords: | deterrence, chilling effect, screening |
| JEL: | D01 K13 L51 |
| Date: | 2022–06 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2022_357&r= |
| By: | Dimitrios Karamanis |
| Abstract: | This paper employs a panel vector autoregressive (PVAR) approach to investigate the relationship among military expenditure, investment, and economic growth, over the period after the enforcement of the Maastricht treaty (1994–2018) in 25 European countries that participate in the Permanent Structured Cooperation (PESCO). By using the Louvain community detection algorithm on the network links that have been established through defence partnerships in PESCO projects, two different country clusters emerge. Findings suggest that military expenditures can stimulate economic growth but the effects may not be common for all Member States, which might benefit from the involvement in joint defence projects to maximize the effectiveness of their defence spending. |
| Keywords: | Defence; Military; Military Expenditure; Investment; Economic Growth; PESCO |
| Date: | 2022–07 |
| URL: | http://d.repec.org/n?u=RePEc:hel:greese:173&r= |
| By: | Ragasa, Catherine; Carrillo, Lucia; Balakasi, Kelvin |
| Abstract: | This report summarizes the baseline data that describe the rural population of five districts in Malawi targeted in the Scaling up Radio and ICTs for Enhanced Extension Delivery (SRIEED) II project that started in 2020 and ends in 2024. It also provides the impact evaluation strategy for the overall project as well as a causal impact evaluation of a major component of the project (impact ICT hubs). |
| Keywords: | MALAWI, SOUTHERN AFRICA, AFRICA SOUTH OF SAHARA, AFRICA, radio, Information and Communication Technologies, extension systems, development, food security, farm income, resilience |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:fpr:masspr:135917&r= |
| By: | Mai, Nhat Chi |
| Abstract: | The final report intends to respond to the requirement according to the provision of the contract agreement signed between Bangladesh Regional Connectivity Project-1 (BRCP 1) and South Asian Network on Economic Modeling (SANEM) for conducting “Policy Review/Policy Study/Policy Paper Preparation under the Bangladesh Regional Connectivity Project 1)’’ in collaboration with International Development Association (IDA), The World Bank. The objective of this technical assistance project is to review the existing government policies related to trade to strengthen cooperation in trade, transport, and transit facilities and facilitate the economic empowerment of women traders. The ongoing context and challenges are compared with the existing policies. It has also analysed the best practices of regional comparators to promote and improve trade-related activities as well as the relevance of SHE trade with the existing policies. Finally, based on the findings, the recommendation for future policy has been identified. Consultancy services for conducting the “Policy Review/Policy Study/Policy Paper Preparation under the Bangladesh Regional Connectivity Project 1)’’ was provided by the South Asian Network on Economic Modeling (SANEM), Bangladesh. The study team consists of four senior-level experts. The major objective of the study is to depict a clear picture of the current situation state of the implementation of the policies, challenges for upcoming LDC graduation to provide the suggestion for future policies. Furthermore, Reviewing and identifying the gaps in the existing policies were also aimed to be found out for this study. |
| Date: | 2021–12–14 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:t8mcd&r= |
| By: | Mai, Nhat Chi |
| Abstract: | My engagement with Cambodia and Vietnam has followed a winding path. I first worked in these two countries between 2005 and 2007. As an analyst with the Bangkok-based Centre for People and Forests, my role was to engage with my Cambodian and Vietnamese counterparts to document early lessons from the community forestry projects that had started to emerge there. The experience sparked my deep interest in this region’s history and challenges. After I joined the Australian National University in 2007, I found opportunities to continue my research there. During 2009–2012, I collaborated with the Vietnamese Institute of Policy and Research in Agriculture and Rural Development to study how craft villages in the Red River Delta were coping with toxic levels of pollution. In 2011 I studied the prospects for community-run timber extraction in Mondulkiri, Cambodia. then, during 2012–2014, I led a collaboration that studied the social entanglements of forest carbon schemes in mainland Southeast Asia (ARC DP120100270), where my field efforts focused on a scheme in Mondulkiri. It was during this last project that I witnessed the dramatic changes sweeping this province, arising from its transborder trading networks and crop booms—especially for cassava. This inspired my more detailed research on crossborder commodity networks, with the support of an Australian Research Council Future Fellowship (2014–2018, FT130101495). |
| Date: | 2022–03–21 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:frmxn&r= |