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on Project, Program and Portfolio Management |
| By: | Stig-Johan Wiklund; Magnus Ytterstad |
| Abstract: | Project portfolio management is an essential process for organizations aiming to optimize the value of their R&D investments. In this article, we introduce a new tool designed to support the prioritization of projects within project portfolio management. We label this tool the PIT-plot, an acronym for Project Impact Tornado plot, with reference to the similarity to the Tornado plot often used for sensitivity analyses. Many traditional practices in portfolio management focus on the properties of the projects available to the portfolio. We are with the PIT-plot changing the perspective and focus not on the properties of the projects themselves, but on the impact that the projects may have on the portfolio. This enables the strategic portfolio management to identify and focus on the projects of largest impact to the portfolio, either for the purpose of risk mitigation or for the purpose of value-adding efforts. |
| Date: | 2025–06 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2506.12068 |
| By: | Anna Maria C. Menichini (Università di Salerno and CSEF); Peter Simmons (University of York) |
| Abstract: | We propose a rationale for the joint financing of two independent projects based on the reduction in audit costs resulting from endogenous sequential verification. This cost reduction occurs not only when joint financing offers coinsurance benefits, but, remarkably, also in the presence of contagion losses -where the failure of one project negatively impacts the other. This is because the benefits from endogenous verification - namely, the cost saving from audits optimally decreasing in the reported outcome - may offset the additional cost arising from contagion, specifically, the potential need to audit a successful project due to the failure of the other. We provide a detailed characterisation of the optimal contract, showing that under certain conditions it may take the form of standard debt. Furthermore, we conduct a comparative static analysis relating the optimality of joint financing to the quality of accounting information. Importantly, we find that with fully transparent accounting information, joint financing always dominates single financing even under contagion. The results remain robust across scenarios involving simultaneous audits and multiple projects. |
| Keywords: | financial contracts, auditing, joint financing, project finance, conglomerates. |
| JEL: | D82 D86 G32 G34 |
| Date: | 2024–12–01 |
| URL: | https://d.repec.org/n?u=RePEc:sef:csefwp:742 |
| By: | Asmus-Bluhm, Gerda; Eichenauer, Vera Z.; Fuchs, Andreas; Parks, Bradley |
| Abstract: | China and India increasingly provide aid and credit to developing countries. This article explores whether India uses these financial instruments to compete for geopolitical and commercial influence with China. We build a new geocoded dataset of Indian government-financed projects in the Global South between 2007 and 2014 and combine it with data on Chinese government-financed projects. Our regression results for 2, 333 provinces within 123 countries demonstrate that India’s Exim Bank is significantly more likely to locate a project in a given jurisdiction if China provided government financing there in the previous year. Since this effect is more pronounced in countries where India is more popular relative to China and where both lenders have a similar export structure, we interpret this as evidence of India competing with China. By contrast, we do not find evidence that China uses official aid or credit to compete with India through co-located projects. |
| Keywords: | development finance, foreign aid, official development assistance, official credits, South-South cooperation, China, India, geostrategic competition |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:ifwkie:319916 |
| By: | Kim, Keuntae; Volker, Jamey M.B.; McGinnis, Claire; Zepeda, Melissa; Barajas, Jesus M. |
| Abstract: | In 2018, pursuant to Senate Bill (SB) 743 (2013), the Governor’s Office of Planning and Research (OPR) and the California Natural Resources Agency promulgated regulations and technical guidance that eliminated automobile level of service (LOS) as a transportation impact metric for land development projects under the California Environmental Quality Act (CEQA), and replaced it with Vehicle Miles Traveled (VMT). The authors investigated the equity effects of VMT mitigation measures and developed a framework for evaluating those effects at the project level. The authors then applied the framework to two highway expansion case studies in California. They found that most VMT mitigation would be implemented at least partially within the project impact areas, as well as some disadvantaged communities, but would generally benefit communities outside of the project area, too. Most of the proposed mitigation measures would not displace existing residences or businesses or pose a significant risk of gentrification. Many of the measures showed substantial potential to improve accessibility to jobs, though less potential to improve accessibility to grocery stores. Community engagement and empowerment was harder to gauge. Overall, the five-part framework can provide a first-cut assessment of the equity effects of VMT mitigation measures during the environmental review phase of VMT-generating projects, like roadway expansions. View the NCST Project Webpage |
| Keywords: | Social and Behavioral Sciences, VMT, mitigation, equity, environmental justice, induced travel, gentrification, displacement, accessibility |
| Date: | 2025–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt3vq3k9h3 |
| By: | Handy, Susan L.; Volker, Jamey M. B. |
| Abstract: | Guidelines for the California Environmental Quality Act require the mitigation of projected increases in vehicle miles traveled (VMT) stemming from highway expansion projects. Quantifying the likely effects of proposed mitigation measures enables an assessment of the degree to which the mitigation program offsets the estimated increase in VMT for a project. The purpose of this report is to provide an overview of possible estimation methods for 45 mitigation strategies and recommendations on the most appropriate method for estimating the reduction in the number of miles of vehicle travel that could be expected to result from the implementation of a specific measure. The methods take into account the extent of the measure but may not account for the specific context. In general, two types of methods are available: travel demand forecasting models, and effect-size approaches. For several measures, this report concludes that the reduction in VMT cannot be estimated based on the available evidence. The Evidence Assessment Report provides as assessment of the strength of the evidence for each of the measures (Handy et al., 2024). |
| Keywords: | Social and Behavioral Sciences, Vehicle miles traveled, mitigation strategies, effect size, quantification |
| Date: | 2025–06–01 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:itsdav:qt29r3h971 |
| By: | Carvalho, Frederico; Lee, Changha; Byanjeru, Yvonne |
| Abstract: | Digital technologies are increasingly important for delivering inclusive, resilient, and high-quality education, yet financing their effective deployment remains a key constraint in many low- and middleincome countries). This paper examines the scale of investment needed to achieve universal digital learning against the backdrop of constrained education budgets. It highlights common challenges ministries face, including limited fiscal space, underutilization of available funds, and inefficiencies in procurement practices. Drawing on global case studies and the World Bank’s EdTech principles, the paper outlines a practical framework for innovative financing that combines two strategic approaches: (1) stretching existing budgets through improved planning, cost-benefit analysis, and procurement reform; and (2) mobilizing additional funding from underleveraged sources such as Universal Service Access Funds, philanthropic capital, and blended finance. The report offers actionable recommendationsto help ministries of education make smarter, result-oriented EdTech investments and build partnerships that enhance long-term impact and sustainability. |
| Date: | 2025–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:wbk:hdgens:203096 |
| By: | Schuß, Eric; Thöne, Michael |
| Abstract: | Im Zuge der durch die Bundesregierung formulierten Klimaschutzziele haben sich auch zahlreiche Kommunen in Deutschland eigene ambitionierte Ziele zur Reduzierung der Treibhausgase gesetzt. Als lokale Akteure können die Kommunen oftmals besser als übergeordnete Ebenen einschätzen, in welchen Maßnahmen vor Ort das größte Potenzial zur Einsparung von Treibhausgasen ruht. Aufgrund ihrer zentralen Rolle bei der Erreichung der Klimaschutzziele betrachtet der vorliegende Projektbericht explizit die Rolle der Kommunen und den Investitionspfad, der nötig ist, um ihren Kapitalstock klimaorientiert zu transformieren. Hierzu werden mehrere finanzwissenschaftliche Instrumente vorgestellt, die dabei helfen sollen, die finanziellen Ressourcen, die für den Klimaschutz und die Klimaanpassung zur Verfügung stehen, auszuweiten und effizient(er) einzusetzen. Im Zentrum steht dabei der Vorschlag eines wirkungsorientierten Förderbudgets, das den Kommunen langfristig als Finanzierungsgrundlage zur Verfügung stehen soll, um in die klimaorientierten Maßnahmen investieren zu können, die aus Sicht der Kommunen am dringlichsten sind. Dieser Vorschlag sieht vor, die Klimawirkung einer Maßnahme in den Mittelpunkt bei der Frage zu stellen, in welche Maßnahmen investiert werden soll. Gleichzeitig soll dadurch die Autonomie der Kommunen im Rahmen der Auswahl der Maßnahmen gestärkt werden. Als zweite wichtige Frage wird untersucht, welche klimaorientierten Maßnahmen in den Kommunen überhaupt ergriffen werden müssen, um die Klimaziele zu erreichen. Basierend auf der bisherigen Forschung wurde hierzu eine Übersicht mit den wichtigsten Maßnahmen in den Investitionsbereichen Verkehr, Energie und Gebäude sowie Grund und Boden erstellt. Dabei wurde auch geprüft, anhand welcher Indikatoren Fortschritte in den genannten Bereichen beschrieben und welche Indikatoren mit Daten auf kommunaler Ebene gefüttert werden können. Dadurch wird ersichtlich, inwiefern und in welchen Investitionsbereichen und bei welchen Maßnahmen die Datengrundlage noch ausbaufähig ist. Diese Fragen sind Grundlage für eine konsistente "Gesamtperspektive 2045" als Wissens-, Planungs- und Entscheidungsgrundlage für die Kommunen. Durch dieses Projekt wird insbesondere deutlich, dass für die Erreichung der Klimaziele nicht nur die Durchführung einzelner Maßnahmen wichtig ist, sondern vor allem das Verfolgen eines zusammenhängenden Gesamtkonzepts. Gleiches gilt für eine entsprechende Datengrundlage, mit der die klimaorientierte Investitionstätigkeit vor allem auf kommunaler Ebene hinsichtlich seiner Klimaschutzwirkung sowie seiner Wirkung auf Wirtschaftskraft, öffentliche Finanzen und den Arbeitsmarkt fundiert evaluiert werden könnte. |
| Abstract: | In the context of the climate protection targets of the German federal government, numerous municipalities have set their own ambitious targets for reducing greenhouse gases. As local actors, municipalities are often in a better position than superior levels to assess which local measures offer the greatest potential for reducing greenhouse gases. Due to their central role in achieving climate protection targets, this project considers explicitly the role of the German municipalities and the investment pathway that is required to transform their capital stock in a climate-oriented manner. For this purpose, several financial instruments are presented that should help to expand the financial resources available for climate change mitigation and adaptation and to use them more efficiently. At the centre of this project, we consider the proposal of an impact-oriented funding budget, which should provide a long-term financing basis to local authorities to enable them to invest in climate-oriented measures that are most urgent from the local authorities' perspective. This proposal is aimed at placing the climate impact of a measure at the centre of the question as to which measures should be invested in. At the same time, the funding budget is intended to strengthen the autonomy of local authorities in the selection of measures. The second important question is which climate-oriented measures need to be used in the municipalities in order to achieve the climate targets. Based on previous research, an overview of the most important measures in the investment areas of transport, energy and buildings as well as land and soil was elaborated. In this context, it was examined which indicators can be used to describe progress in these areas and whether data at the municipal level is available to empirically assess this progress. This should underline to what extent and in which investment areas and for which measures the data basis should be expanded. These questions form the basis for a consistent "Overall Perspective 2045" as a knowledge, planning and decision-making basis for the municipalities. This project highlights that it is not only the implementation of individual measures that is important for achieving the climate targets, in particular, a coherent overall concept is very essential. The same applies to a corresponding data basis that can describe the climate-oriented investment activities, especially at the municipal level, and that also helps to evaluate the effects of local climate protection measures on economic development, public finances and the labour market. |
| Keywords: | Climate change and climate adoption, municipalcapital stock, investments, impact-oriented funding budget, Klimaschutz und -anpassung, kommunaler Kapitalstock, Investitionen, wirkungsorientiertes Förderbudget |
| JEL: | H71 Q58 R11 R53 |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:fifore:319879 |