nep-ppm New Economics Papers
on Project, Program and Portfolio Management
Issue of 2023‒03‒06
nine papers chosen by
Arvi Kuura
Tartu Ülikool

  1. Reviewing the Success Factors of Adaptive Reuse Strategy in Practice; A Case Study of Fenix Food Factory By Fatemeh Vafaie; Hilde Remøy
  2. Cooperative cultural groupings (extract) By Philippe Henry
  3. The effects of a project and play-based early education program on medium term developmental trajectories of young children in a low-income setting By Raquel Bernal; Michele Giannola; Milagros Nores
  4. A demonstration case study on the use of living lab and governance for smart city construction and the establishment of a smart solution space By Heecheol Shim; Jaehwan Kim
  5. Participatory interventions for collective action and sustainable resource management: linking actors, situations and contexts through the IAD, NAS and SES frameworks By Ortiz-Riomalo, Juan Felipe; Koessler, Ann Kathrin; Miranda-Montagut, Yaddi; Cardenas, Juan Camilo
  6. Democratic Republic of the Congo: Technical Assistance Report on Public Investment Management Assessment - PIMA and Climate PIMA By International Monetary Fund
  7. Defining enhancement strategies for public real estate according to the mission of institution. The case of non-instrumental assets of ASP IMMeS e PAT in Milan By Genny Cia; Andrea Ciaramella; Mario Claudio Dejaco
  8. The Science of Research Grants: A Scoping Review of Journal Articles in Grantology Published in 1970-2020 By Yan, Zheng; Yang, Panpan; Liu, Qingyang; Erickson, Joan J.
  9. NPV, IRR, PI, PP, and DPP: a unified view By Mikhail V. Sokolov

  1. By: Fatemeh Vafaie; Hilde Remøy
    Abstract: Purpose – “The revitalisation of the Deliplein has enabled Katendrecht to shed its longstanding reputation as one of the worst districts in Rotterdam. It is now one of the most sought-after neighbourhoods in the city”. The Fenix food factory is located near Deliplein in the Katendrecht neighbourhood, and plays an essential role for the success of this regeneration project. The purpose of this paper is to evaluate the success of the adaptive reuse project of the Fenix food factory, as part of a case study research of several adaptive reuse projects in the Netherlands. Accordingly, this paper seeks to answer the following questions: What are the factors that lead to the success of adaptive reuse projects? How can the success factors of adaptive reuse be implemented in the Dutch redevelopment practice?Design Methodology/approach – The case study approach has been adopted to evaluate the success factors for adaptive reuse of heritage real estate as found through previous literature review. As part of the case study, interviews are held with the stakeholders of Fenix Food Factory, for better understanding the overall framework of the project, such as stakeholder partnerships, reuse regulations and limitations determined by the municipality, financial and social viability. The case study material furthermore includes project documentation and written sources about the project. Findings – The findings show how success factors are applied in the decision making process of adaptive reuse projects. Furthermore, new factors that are not found in existing literature but are considered effective for the success of the Fenix food factory will be added to the body of knowledge on this topic. Originality/value- This research contributes to providing more comprehensive data as input for decision making models for successful adaptive reuse projects. This study reviews the classification of success factors that was revealed in previous studies. The final result of this study will contribute to develop knowledge for the management of heritage real estate.
    Keywords: Adaptive Reuse; case study; Industrial heritage real estate; The Netherlands
    JEL: R3
    Date: 2022–01–01
  2. By: Philippe Henry (Scènes et savoirs - UP8 - Université Paris 8 Vincennes-Saint-Denis)
    Abstract: The book aims at better understanding how each in their own way cultural organizations fit together the individual and the collective, the singular and the common. It focuses on the structures or devices that play an essential role in supporting or intermediating artistic or cultural projects in France characterized by both a professional aim and a modest size (cooperatives, wastelands, cultural third places, professional networks, cultural projects of territory...). More specifically, it explores the relationship between the support for the specific identity of projects and the coordination of the plurality of actors they involve. Although not exclusive, the reported cases rather refer to the cultural branches of crafts – in particular performing arts and plastic arts. The approach is based on the observation and analysis of a set of concrete situations, backed by contextual and theoretical references which problematize the cases studied. It does not imply prior knowledge of the topics covered, while offering prospects of deepening their knowledge to the readers who are more familiar with them. The cooperative cultural groupings thus appear to be exemplary of a general operating system – the community regime of singularities. This proves to be in tune with current sociological and technological developments, while experimenting with the possibilities and limits of a cultural democracy that feeds as much on pragmatism as on ideality.
    Abstract: L'ouvrage vise à mieux appréhender comment les organisations culturelles articulent, chacune à leur manière, l'individuel et le collectif, le singulier et le commun. Il se focalise sur les structures ou dispositifs qui jouent un rôle essentiel d'accompagnement ou d'intermédiation pour des projets artistiques ou culturels à visée professionnelle et de taille modeste en France (coopératives, friches, tiers-lieux culturels, réseaux professionnels, projets culturels de territoire...). Il explore plus précisément les rapports entre soutien à l'identité propre des projets et coordination de la pluralité des acteurs qu'ils impliquent. Sans que ce soit exclusif, les cas signalés renvoient plutôt aux branches culturelles artisanales – notamment spectacle vivant et arts plastiques. L'approche s'appuie sur l'observation et l'analyse d'un ensemble de situations concrètes, adossées à des références contextuelles et théoriques qui les problématisent. Elle n'implique pas une connaissance préalable des thèmes abordés, tout en proposant des perspectives d'approfondissement aux lecteurs qui en sont plus familiers. Les groupements culturels coopératifs apparaissent alors exemplaires d'un régime général de fonctionnement – le régime communautaire de singularités. Celui-ci s'avère en phase avec les évolutions sociologiques et technologiques actuelles, tout en expérimentant les possibilités et les limites d'une démocratie culturelle qui se nourrit autant de pragmatisme que d'idéalité.
    Keywords: Cooperation, Culture, Socioeconomics, Coopération, Socioéconomie
    Date: 2023–01
  3. By: Raquel Bernal (Universidad de Los Andes); Michele Giannola (University of Naples Federico II, CSEF, and the Institute for Fiscal Studies.); Milagros Nores (National Institute for Early Education Research, Graduate School of Education, Rutgers, The State University of New Jersey)
    Abstract: Extensive research has shown comprehensive early interventions can improve the developmental outcomes of disadvantaged children. However, the evidence on the effectiveness of high-quality center-based programs for young children in developing countries is still scarce, where programs are typically of low quality and only short-term impacts have been assessed. This paper reports short and medium-run effects from a high-quality early education intervention characterized by key elements of process quality such as project and play-based learning and rich adult-child interactions, on children younger than four years of age in two communities in northern Colombia. We find strong positive effects on cognitive development and health, and no significant impacts on socioemotional development.
    Keywords: early childhood development, early education, poverty, impact evaluation
    JEL: J13 I10 I20 H43
    Date: 2023–02–03
  4. By: Heecheol Shim; Jaehwan Kim
    Abstract: Urban problems in rural small towns in Korea are manifested in various forms, such as the aging of the population, the smart gap, the departure of young people, and the inefficiency of urban space. Accordingly, the state and local governments are presenting various solutions to solve the above urban problems. Among them, the Ministry of Land, Infrastructure and Transport conducted a public competition project to develop and demonstrate technologies such as smart common cultural space creation, smart education support, smart crime prevention and safety, smart healthcare, and smart information plaza as a way to create a smart city. Based on the project selected in the 2021 public contest, this study collects the opinions of actual residents through the operation of a living lab before the actual smart solution space construction, and based on this, secures the direction for space composition and curriculum development, and applies local customized applications We tried to derive a method for To this end, a living lab was operated prior to the establishment of a smart solution space, and various opinions were shared and collected through the participation of experts in each field, local residents, and universities. Based on the convergence results, the present day problems and local issues of small towns were discovered and served as a test bed to solve them. In addition, in order to further secure the justification and feasibility of building a smart space, the opinions of local residents were actively collected through a total of three surveys. As a result of living lab and governance results and survey analysis results, the necessary services and solutions were built in the order of smart crime prevention, smart healthcare, convenience for living, education support, smart information plaza, smart shelter, and multi-purpose studio. Through this, it was possible to build a space that maximizes the sensibility of actual residents.This study presented a methodology for how to build a resident-led bottom-up development model rather than the central government-led top-down development, and carried out actual demonstration. It is judged that this study can be provided as basic data to some extent in the design of a smart city customized for each region in the future to spread a similar public offering project. Smart cities and proptech following the 4th Industrial Revolution are an irresistible trend, and accordingly, they will become more sophisticated and concrete. Therefore, it is hoped that various results for actual verification through demonstration projects can be drawn, rather than looking at smart cities, living labs, and smart solutions only from an academic point of view, and various policy implications can be derived.
    Keywords: Construction of space; Governance; Livinglab; Smart Solution
    JEL: R3
    Date: 2022–01–01
  5. By: Ortiz-Riomalo, Juan Felipe; Koessler, Ann Kathrin; Miranda-Montagut, Yaddi; Cardenas, Juan Camilo
    Abstract: Overcoming complex environmental challenges demands different forms of stakeholder participation and collective action. While informative and relevant for participatory interventions, the literatures on collective action and participatory governance have largely remained disconnected. We illustrate how the institutional analysis and development (IAD), network of (adjacent) action situation (NAS) and social–ecological system (SES) frameworks can be combined to provide a coherent approach that integrates these literatures, applies their insights and bridges this disconnect. We compare two similar participatory interventions, one in Colombia and one in Peru, whose design and implementation we supported. Transdisciplinary in nature, both sought to foster collective action for watershed management. The frameworks allow us to demarcate, characterise and reflect upon the action situations (ASs) for the collective choice, coordination and knowledge generation that constituted each participatory intervention (i.e. the constituent NAS) and other relevant operational and institutional ASs that lay outside the boundaries of the participatory interventions. These other ASs may not be linked to one another or to the intervention’s constituent NAS, but they influence the outcomes of interest nevertheless, thereby shaping the potential of the participatory interventions for collective action and sustainable natural resource management. The framework then suggests, and our comparative analysis illustrates, that organisers and researchers of participatory interventions, such as multi-actor deliberative platforms and transdisciplinary research projects, should carefully consider, reflect upon and address the constellation of relevant actors, ASs and contexts co-determining the outcomes of interest. Our study demonstrates how the IAD, SES and NAS frameworks can support that endeavour.
    Keywords: collective action; institutional analysis and development; networks of adjacent action situations; participatory governance; social–ecological systems; sustainable natural resource management
    JEL: R14 J01
    Date: 2023–01–01
  6. By: International Monetary Fund
    Abstract: This technical report discusses the results of the Public Investment Management Assessment (PIMA) of the Democratic Republic of Congo (DRC) undertaken in March 2022. Despite some recovery in the 2000s, the levels of public investment in the DRC remain well below the average for comparator countries, and access and quality of infrastructure are very poor, with major risks of deterioration. While the government aims to meet part of these needs by creating fiscal space, successful infrastructure development will hinge on improvements in investment efficiency, which can be achieved by strengthening public investment management practices. Public investment management in the DRC suffers from weaknesses across the whole project cycle, both on paper (legal and regulatory framework) and in practice. Efficient project management is hampered by administrative and legal fragmentation, which leads to dilution of capacity, and by budget credibility issues. This report proposes seven high-priority recommendations that could greatly improve public investment management in the short to medium term. The report also includes the results of the climate module of the PIMA evaluation, which reflect that the DRC’s commitments in the fight against climate change are beginning to feed into public investment management practices.
    Keywords: Budget planning and preparation Capital spending Expenditure Fiscal Policy Infrastructure International Organization National accounts Public financial management (PFM) public investment spending
    Date: 2023–01–30
  7. By: Genny Cia; Andrea Ciaramella; Mario Claudio Dejaco
    Abstract: In 2021, the Public Company for Social Services Istituti Milanesi Martinitt e Stelline e Pio Albergo Trivulzio (ASP IMMeS and PAT), the Politecnico di Milano - Department of Architecture, Construction Engineering and Built Environment (DABC) and the University of Trento - Department of Civil, Environmental and Mechanical Engineering (UNITN-DICAM) promote a scientific and technical research project aimed at “developing tools and methods of analysis and audit for the knowledge of the current state of assets and defining guidelines to manage non-instrumental assets”. The research project is a result of the cooperation between public entities, and it enhances the know-how and experiences of each actor. The integrated, synergistic and multidisciplinary approach is functional to pursuit the principles of efficiency and good performance of public administration. In the logic of applied research project, the real estate assets of the Institution represent a case study of national relevance and maximum scientific interest in the field of public real estate management (PREM). The real estate assets have a significant consistency and a value of about € 500 million (including agricultural properties). The research has a twofold objective. The first consists in defining an integrated system of analysis and verification of tools and methods for the knowledge of the real estate assets. The second is represented by the definition of guidelines for managing non-instrumental assets with criteria for their classification, monitoring, maintenance, and management. To pursue the aims, the research project divides the activities into two stages: the reconnaissance of the state of assets and then, a methodological proposal aimed at evaluating the feasible evaluation strategies. The activities refer to: (1) the reconnaissance of non-instrumental real estate assets by techno-typological characteristics, by intended use, age, etc .; (2) the analysis of tools adopted by the Entity; (3) the analysis of procedures and parameters used for the definition and classification of critical issues; (4) the analysis of the “state” classification of buildings and their parametric indications of recovery costs; (5) the analysis of the evaluation criteria used for defining disposal plan (where applicable); (6) the proposal of a procedure to compare real estate values; (7) the definition of guidelines and procedures for analyzing the current state of buildings to support the definition of priorities and/or opportunities; (8) a proposal of methodologies, tools and control parameters (technical, documentary, economic) to support the evaluation phase, technical and economic management of the real estate portfolio; and finally, (9) the test of proposals on a significant sample of case studies. This paper presents the applied methodologies and the results achieved in the early stages of the research. In particular, the paper presents the importance of the correct setting of information, the methodologies and the first procedural proposals based on the profitability criteria. The overall results will be achieved one year after the start of the research.
    Keywords: Asset efficiency strategies; Enhancement strategies; Management strategies; Public Real Estate Management
    JEL: R3
    Date: 2022–01–01
  8. By: Yan, Zheng; Yang, Panpan; Liu, Qingyang; Erickson, Joan J.
    Abstract: Research grants are a critical means for research policy, research management, and research administration to generate scientific breakthroughs, technical innovations, and social impacts. Currently, the exponential growth of the research literature on research grants has been scattered across diverse outlets and disciplines. The present paper is the first scoping review to generate an overall coherent picture of the science of research grants or grantology by focusing on the basic literature published from 1970 to 2020. Based on both a process-based conceptual framework and 275 identified important research articles, we synthesize the current knowledge in seven key areas, i.e., grant writers, grant writing, grant agents, grant review, grant projects, grant management, and grant impacts. Our review indicates that three major topics, grant writing practices, grant review, and scientific impacts, have dominated the existing literature, Future research should examine four key topics, development of grant writers, grant resubmission, grant professionals, and grant use, to further advance the science of research grants. Limitations and implications of the study are discussed.
    Date: 2023–01–30
  9. By: Mikhail V. Sokolov
    Abstract: This paper introduces a class of investment project's profitability metrics that includes the net present value criterion (which labels a project as weakly profitable if its NPV is nonnegative), the internal rate of return (IRR), the profitability index (PI), the payback period (PP) and its discounted counterpart (DPP) as special cases. An axiomatic characterization of this class, as well as of the mentioned conventional metrics within the class, is presented. This approach is useful at least in three respects. First, it suggests a unified interpretation for profitability metrics as measures of financial stability of a project with respect to a collection of scenarios of economic environment. Second, it shows that, with the exception of the NPV criterion, a profitability metric is necessarily incomplete (i.e., there are incomparable projects). In particular, this implies that any extension of the IRR to the space of all projects does not meet a set of reasonable conditions. A similar conclusion is valid for the other mentioned conventional metrics. For each of these metrics, we provide a complete characterization of pairs of compatible projects and describe the largest subset of projects to which the metric can be unambiguously extended. Third, it determines the conditions under which the use of one metric is superior to the others.
    Date: 2023–02

This nep-ppm issue is ©2023 by Arvi Kuura. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
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