|
on Project, Program and Portfolio Management |
| By: | Savvakis C. Savvides (Visiting Lecturer, John Deutsch International Executive Programs, Queens University, Canada.) |
| Abstract: | There are four key areas in a capital investment evaluation that make for a good and sound appraisal of risk and return. The methodology of cost benefit analysis for capital investment projects is of course a prerequisite for a sound appraisal. There is general consensus regarding the practice and application of cost benefit analysis in the appraisal of capital investment projects and in determining economic viability. Although the correct methodology is necessary, it is not always sufficient to facilitate the decision of whether to invest.For a sound investment appraisal, one further needs to use a sound and robust integrated financial model which correctly and prudently applies the methodology of Cost-Benefit Analysis. Secondly, it is also fundamental to structure the projection parts of such a model only after first doing the serious homework on the market and competitive analysis data to be projected in the appraisal. This phase which unfortunately is not given enough attention in practice is essential to reveal the driving parameters and to be projecting growth patterns for key variables in a consistent and coherent manner. A good and thoughtful marketing analysis is also key when subjecting the financial projections to risk analysis using Monte Carlo Simulation. Last but not least, the above analysis should lead to the derivation of the project’s risk profile and how it may impact the various stakeholders and financiers of the project. This facilitates an appropriate agreement for a financing structure and for sharing of the risks among all stakeholders. Each of these aspects of investment appraisal are addressed in this manuscript. |
| Keywords: | cost-benefit analysis, development bank, risk analysis, project evaluation. |
| JEL: | D61 |
| Date: | 2023–12–12 |
| URL: | http://d.repec.org/n?u=RePEc:qed:dpaper:4612&r=ppm |
| By: | Andrej Woerner (LMU Munich); Sander Onderstal (University of Amsterdam , Tinbergen Institute); Arthur Schram (University of Amsterdam, Tinbergen Institute) |
| Abstract: | For reward-based crowdfunding, we introduce the strategy-proof Generalized Moulin-Shenker mechanism (GMS) and compare its performance to the prevailing All-Or-Nothing mechanism (AON). Theoretically, GMS outperforms AON in equilibrium profit and funding success. We test these predictions experimentally, distinguishing between a sealed-bid and a dynamic version of GMS. We find that the dynamic GMS outperforms the sealed-bid GMS. It performs better than AON when the producer aims at maximizing funding success. For crowdfunding in practice, this suggests that the current standard of financing projects may be improved upon by implementing a crowdfunding mechanism that is similar to the dynamic GMS. |
| Date: | 2023–11–24 |
| URL: | http://d.repec.org/n?u=RePEc:rco:dpaper:464&r=ppm |
| By: | Shelby Bourgault (Center for Global Development); Kelsey Ross (Center for Global Development); Megan O’Donnell (Center for Global Development) |
| Abstract: | This paper aims to determine the extent to which gender was considered in the Inter-American Development Bank’s (IDB) operations aimed at responding to the COVID pandemic and associated economic crisis. Using keywords to identify COVID response projects, we found 264 projects approved between March 1, 2020, and July 31, 2021 for our analysis. We found that 135 projects (51 percent) had publicly available project documents for analysis, and of these, 32 projects (24 percent) included gender-focused indicators in their results frameworks. Most gender indicators focus on women as participants of social protection programs or as owners of small- and medium-sized enterprises. Our recommendations to the IDB include increasing transparency by publishing more project documents and ensuring gender indicators are included in projects’ results frameworks across sectors. This project builds on previous analysis of gender integration in COVID response projects at the World Bank, Asian Development Bank, and African Development Bank. |
| Date: | 2022–01–14 |
| URL: | http://d.repec.org/n?u=RePEc:cgd:ppaper:248&r=ppm |
| By: | Ferran Pérez Pedrola (EESC-GEM Grenoble Ecole de Management); Claudio Vitari (CERGAM - Centre d'Études et de Recherche en Gestion d'Aix-Marseille - AMU - Aix Marseille Université - UTLN - Université de Toulon) |
| Abstract: | This paper explores the Information Systems project implementations in organizations. It focuses on the actualization of the affordances that result from the intertwining of the Information Technology (IT) artefact and the organization and we answer to the following research question "How do organizations actualize affordances?" With a qualitative multiple case study on the different local entities of an international leading retailer, this research identifies that previous research omitted the top management sponsorship as one of the main influences for the actualization process. Moreover, constrains perception is observed in the collected data and its role is assessed. This paper contributes the development of the affordance theory by providing an updated process-based integrative theoretical framework for affordances at the organizational level, aimed to support further research on Information Systems. |
| Keywords: | Multiple Case Study, Affordance Theory, Affordance Actualization, Affordance Effect, Multinational Corporation |
| Date: | 2023–08–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04299444&r=ppm |
| By: | Bellefontaine, Andre; Rich Steinmetz, Lindsay; Buffa, Valkyrie; Storment, David; Fraas, Arthur G. (Resources for the Future) |
| Abstract: | Decarbonizing the electric utility sector will require a substantial investment in renewable energy projects. The federal government has set the goal of reducing greenhouse gas emissions by half by 2030 and entirely by 2050. Investing in clean renewable energy is a vital part of realizing a goal of net zero-emissions. States have a key role in promoting the development of renewable energy facilities to replace fossil fuels in the electricity sector. They have established Renewable Portfolio Standards (RPSs) requiring that a certain percentage of electricity sold to customers must be from renewable sources; 31 states, Washington, DC, and three territories have adopted RPSs, and seven states and one territory have set renewable energy goals (Shields 2021). The time required to complete National Environmental Policy Act (NEPA) review of major infrastructure projects—including for renewable energy—has been a key concern in recent years. The recently enacted Fiscal Responsibility Act of 2023 (FRA) included a permitting reform provision that codified presumptive deadlines for completing NEPA reviews. At the end of July, CEQ issued a proposed NEPA rule implementing the FRA provisions.This case study examines the federal permitting processes affecting siting and construction of utility-scale solar projects to identify the possible barriers associated with achieving federal and state renewable energy goals. The Western Solar Plan defines utility-scale solar as having a nameplate capacity of 20 or more megawatts (MW). We used the 20 MW threshold to identify major utility-scale projects. We assembled a sample of 46 utility-scale solar projects completing NEPA review for 2005–2021. We believe this sample covers most—if not all—of the solar projects completing NEPA review over this period.We find that most of these projects completed formal NEPA review within two years. However, many of them required 8–10 years from filing an initial application to reach operational status. The delay in taking these projects from initial application to full operation often occurred before (in a prequel stage) and/or after formal NEPA review. Resolving potential NEPA issues before formal review has likely contributed to delays in the early prequel stage. We also examine the efforts of the Bureau of Land Management (BLM) to expedite review and find that a major BLM initiative—the Western Solar Plan launched in 2012—has yielded a disappointing record over its first 10 years.Section I provides background information on utility-scale solar facilities. Section II describes the NEPA process and associated reviews (Fish and Wildlife Service (FWS), US Army Corps of Engineers (USACE), etc.). Section III presents summary info on the projects that went through NEPA reviews and shows that many of the operational projects took 8–10 years (as of the end of 2021) from the initial application to reach operational status; Section IV outlines BLM’s actions, including the Western Solar Plan, to expedite its review process for siting solar projects on public lands. |
| Date: | 2023–12–15 |
| URL: | http://d.repec.org/n?u=RePEc:rff:dpaper:dp-23-45&r=ppm |
| By: | Haufler, Andreas; Luelfesmann, Christoph |
| JEL: | G38 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc23:277623&r=ppm |
| By: | International Monetary Fund |
| Abstract: | The Public Investment Management Assessment (PIMA) for Seychelles shows a relatively well-designed public investment management system, with well-unified budgeting arrangements and effective funding processes for capital projects. However, the assessment also notes under-execution of capital budgets and identifies important areas for improvement in medium-term budgeting, project planning, and asset management. The Climate Public Investment Management Assessment (C-PIMA) provides a climate perspective on public investment management in Seychelles. This module identifies proactive climate-related public investment coordination but gaps in the incorporation of climate resilience measures within the investment framework. Recommended reforms are geared towards enhancing project appraisal, defining roles in the public investment system, and integrating climate change adaptation into the planning process. These reforms, aligned with Seychelles' National Development Strategy, aim to optimize public investment management and ensure sustainable development in the face of climate-related challenges. |
| Keywords: | Public investment management; climate; fiscal risk; small island states; Seychelles. |
| Date: | 2023–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:2023/371&r=ppm |