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on Project, Program and Portfolio Management |
| By: | Kock, Alexander; Gemünden, Hans Georg |
| Abstract: | Innovation project portfolio management (IPPM) is a key task in R&D management because this decision‐making process determines which R&D projects should be undertaken and how R&D resources are allocated. Previous research has developed a good understanding of the role of IPPM in R&D strategy implementation and of successful IPPM practices. But the fundamental orientations that drive the strategy formation and implementation process have never been investigated in the context of IPPM, and it is unclear whether successful practices are equally valid for different strategic orientations. This study, therefore, investigates the moderating impact of a firm’s entrepreneurial orientation on the relationship between strategic portfolio management practices and portfolio success. An empirical analysis of 257 firms shows that both innovativeness and risk taking as entrepreneurial orientation’s dimensions positively moderate the relationship between managerial practices and performance. Specifically, we find that firms high in innovativeness profit more from stakeholder engagement compared to firms low in innovativeness. Firms high in risk‐taking profit more from a clearly formulated strategy. With increasing innovativeness and risk‐taking propensity, firms also profit more from business case monitoring and agility in portfolio steering. The results suggest that a firm’s entrepreneurial orientation can leverage the effect of IPPM practices. Vice versa, a lacking entrepreneurial orientation can render these practices ineffective. Strategic orientation and IPPM practices should, therefore, be aligned with each other to enable firms to better implement their strategy and generate competitive advantage. |
| Date: | 2024–01–09 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:142184&r=ppm |
| By: | Kaufmann, Carsten; Kock, Alexander; Gemünden, Hans Georg |
| Abstract: | Decision makers find creating an innovation portfolio challenging, because more innovative projects are associated with a higher degree of uncertainty. In this study, we investigate the potential benefits of applying real options reasoning (ROR) in innovation portfolio management from an attention‐based view. Using a sample of 137 innovation portfolios with multiple informants, we investigate ROR's influence on portfolio innovativeness and, ultimately, on portfolio success in a mediated model. Further, we analyze the moderating influence of an innovation portfolio's organizational context — entrepreneurial orientation and innovation climate — on ROR's application. The results support ROR's positive relationship to portfolio innovativeness and portfolio success. The analysis also supports the positive interaction between entrepreneurial orientation and ROR with respect to portfolio innovativeness. This study contributes to the literature by demonstrating the relationship between ROR and portfolio success, mediated by portfolio innovativeness. In addition, the study's analysis offers an explanation of previously mixed findings regarding ROR's benefits by considering the firm's strategic and cultural innovation contexts. The findings underline the relevance of strategic support for ROR's effectiveness in innovation portfolio management. Furthermore, the findings encourage managers to implement ROR, but also stress the essential contribution an entrepreneurial orientation makes when the managers do so. |
| Date: | 2023–12–22 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:142038&r=ppm |
| By: | Eilers, Yota (University of Oxford); Kluve, Jochen (KfW Development Bank); Langbein, Jörg (World Bank); Reiners, Lennart (Asian Development Bank) |
| Abstract: | In 2022, governments around the world committed USD 211 bn. to official development assistance. Despite these high contributions, systematic assessments of the determinants of success - or failure - of development aid projects remain limited, particularly for bilateral development aid. This paper provides such a systematic, quantitative analysis: we construct a unique database covering 5, 608 evaluation results - success ratings - for bilateral development aid projects financed through one of the biggest global donors, KfW Development Bank. Detailed data on project characteristics allow us to link success ratings to five clusters of key explanatory factors along the entire project life-cyle and context: (a) In terms of project financing, we find a statistically significant positive association between the financial budget volume of the project and its success ratings, ceteris paribus. Second, concerning the (b) project structure, the type of project partner - government, private sector, multilateral organizations - shows no significant association with project success, suggesting that project implementation works equally well with different partners. (c) Project complexity as measured by both technical complexity and longer implementation duration exerts a negative influence on success ratings. Regarding (d) project risks, a highly relevant and significant predictor for less successful projects is the share of ex-ante identified risks that eventually materialized - suggesting that project designs correctly identify the relevant risks in advance, but are not able to mitigate (all of) them during execution. Finally, concerning (e) the project context there is some indication that higher GDP growth rates are positively associated with project success. |
| Keywords: | development finance, OECD DAC evaluation criteria, meta analysis |
| JEL: | C40 F35 O10 O19 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp16691&r=ppm |
| By: | Anna Goldstein; Michael Kearney |
| Abstract: | There is a long-standing tradition in public research funding agencies of distributing funds via peer review, which aggregates evaluations of proposed research ideas from a group of external experts. Despite complaints that this process is biased against novel ideas, there is poor understanding of an alternative system that may overcome this bias: the use of individual discretion. Here, we conduct the first quantitative study of how individual discretion affects a research funding portfolio. Using internal project selection data from the Advanced Research Projects Agency-Energy (ARPA-E), we describe how a portfolio of projects selected by individual discretion differs from a portfolio of projects selected by traditional peer review. We show that ARPA-E program directors tend to fund proposals with greater disagreement among experts, and they also appear to prefer proposals described in reviewer comments as “creative.” These choices do not result in a significant tradeoff with short-term project performance, and they enable ARPA-E to fund more uncertain and creative research ideas, which supports the agency’s mission of pursuing novel ideas for transformational energy technology. |
| JEL: | O31 O38 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32033&r=ppm |
| By: | Barbara Biasi; Julien M. Lafortune; David Schönholzer |
| Abstract: | This paper identifies which investments in school facilities help students and are valued by homeowners. Using novel data on school district bonds, test scores, and house prices for 29 U.S. states and a research design that exploits close elections with staggered timing, we show that increased school capital spending raises test scores and house prices on average. However, impacts differ vastly across types of funded projects. Spending on basic infrastructure (such as HVAC) or on the removal of pollutants raises test scores but not house prices; conversely, spending on athletic facilities raises house prices but not test scores. Socio-economically disadvantaged districts benefit more from capital outlays, even conditioning on project type and the existing capital stock. Our estimates suggest that closing the spending gap between high- and low-SES districts and targeting spending towards high-impact projects may close as much as 25% of the observed achievement gap between these districts. |
| JEL: | H41 H75 I22 I24 R30 R53 |
| Date: | 2024–01 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:32040&r=ppm |
| By: | Ez-Zaouine Jamila (UIZ - Ibn Zohr University of Agadir); Adil Kouskous (UH2MC - Université Hassan II [Casablanca]) |
| Abstract: | Public-private partnerships (PPPs) are popular globally, but their performance sparks debates. Indeed, as a strategic tool, these PPPs have emerged as potential catalysts for innovation and the achievement of Sustainable Development Goals (SDGs), thus highlighting the urgent need for effective and innovative public governance. This study aims to closely examine how innovation within PPP governance can significantly contribute to achieving the SDGs, focusing on insights from PPP experiences in Africa to identify best practices and lessons learned. It employs a Grounded Theory Analysis based on case studies of various PPPs focused on SDGs concluded between 2017 and 2023 in 21 African countries to develop our governance model, geared towards creating a specific understanding framework for PPPs in Africa, capturing the complexity of dynamics between public and private actors, success factors, challenges faced, and, most importantly, how governance innovation can be integrated to optimize PPPs' contribution to the SDGs. The results of this analysis indicate that "PPP Governance Management" is necessary to provide a structural and decision-making framework to help public and private partners collaborate, innovate, and create synergies to achieve project goals in a compliant and strategic manner. This study aims to actively contribute to enhancing the decision-making capacities of stakeholders. |
| Abstract: | RÉSUMÉ : Les partenariats public-privé (PPP) sont populaires à l'échelle mondiale, mais leurs performances suscitent des débats. En effet, en tant qu'outil stratégique, ces PPP ont émergé comme des catalyseurs potentiels pour l'innovation et la réalisation des Objectifs de Développement Durable (ODD), mettant ainsi en lumière la nécessité impérieuse d'une gouvernance publique efficace et novatrice. Cette étude s'engage à examiner de près comment l'innovation au sein de la gouvernance des PPP peut contribuer de manière significative à l'atteinte des ODD, en se penchant sur les enseignements tirés des expériences des PPP en Afrique pour identifier les meilleures pratiques et les leçons apprises, à travers une Analyse par Théorisation Ancrée basée sur des études de cas de différents PPP axés sur les ODD conclus entre 2017 et 2023 dans 21 pays africains, afin de développer notre modèle type de gouvernance, orienté vers la création d'un cadre de compréhension spécifique des PPP en Afrique, et permettant de capturer la complexité des dynamiques entre les acteurs publics et privés, les facteurs de succès, les obstacles rencontrés et, surtout, la manière dont l'innovation dans la gouvernance peut être intégrée pour optimiser la contribution des PPP aux ODD. Les résultats de cette analyse ont indiqué qu'une « Gestion de la gouvernance des PPP » est nécessaire pour fournir un cadre structurel et décisionnel aidant les partenaires publics et privés à collaborer, innover et créer des synergies pour atteindre les objectifs du projet de manière conforme et stratégique. Cette étude ambitionne de contribuer activement au renforcement des capacités décisionnelles des parties prenantes. |
| Keywords: | Public-Private Partnerships (Ppps), Governance, Innovation, Sustainable Development Goals (Sdgs), African Countries, Grounded Theory Analysis, Partenariats Public-Privé (PPP), gouvernance, innovation, Objectifs de Développement Durable (ODD), pays de l'Afrique, Analyse par théorisation ancrée |
| Date: | 2023–11 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04369070&r=ppm |
| By: | Briones, Roehlano M.; Navarro, Adoracion M.; Umlas, Anna Jennifer L.; Latigar, Jokkaz S.; Abrigo, Michael R.M. |
| Abstract: | This study presents a baseline survey for the Rural Agro-enterprise Partnership for Inclusive Development and Growth (RAPID-Growth) project implemented by the Department of Trade and Industry. Operating in six regions of Mindanao and Region VIII, the project focuses on key value chains, including cacao, coconut, coffee, and processed fruits and nuts. The study delves into the current conditions of smallholder farming households and farmer organizations (FOs), complementing another PIDS study on matching grants as a strategy for enterprise development (Umlas and Briones 2023). Utilizing quantitative impact and process evaluation, the research undertakes the first step toward assessing program effects and understanding program implementation. Survey key findings underscore the alignment of the treatment group with project selection criteria, particularly from high-poverty municipalities and vulnerable groups. Some differences between the treatment and control groups are already evident in terms of income sources, economic enterprise participation, and credit access, which needs to be carefully considered when isolating project impact at the endline. The enterprise profiling reveals that most involved FOs are larger entities with over 200 members, operating for 0–9 years, and comprising cooperatives, corporations, and worker associations. Despite challenges, such as the absence of a robust M&E system, the process evaluation highlights positive aspects, including the effectiveness of the matching grant scheme, FO empowerment, FO capacity development, and private sector involvement. Finally, baseline study recommendations relate to expediting project completion, reconsidering certain project components, and enhancing technical assistance to FOs. Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph. |
| Keywords: | smallhold farmers;farmer organizations;enterprise development;agricultural value chain;matching grant;baseline study;impact evaluation;process evaluation |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2023-39&r=ppm |