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on Project, Program and Portfolio Management |
| By: | Miguel Vazquez; Otaviano Canuto |
| Abstract: | Low-carbon hydrogen is a potential contributor to the goals defined in the Paris Agreement, i.e. limiting the increase in the global average temperature to 1.5°C above pre-industrial levels. The transformation of hydrogen production is a part of this effort, as current production methods in the hydrogen industry are carbon-intensive. To achieve net-zero scenarios, hydrogen production and consumption will need to change. Creating a pipeline of projects plays a central role in driving overall costs down. However, notwithstanding the impressive targets and project announcements that have been made, few low-carbon hydrogen projects have reached the final investment decision stage. It is necessary to design a set of policy tools to promote low-carbon hydrogen investment. To that end, we assess the matching process between the potential supply of capital and the demand for capital associated with projects. This paper looks at the problem from the point of view of financial closure of those projects. |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:pbcoen:pb_09-24 |
| By: | Hafez Ghanem |
| Abstract: | Humanity is losing the climate battle, and existing international institutions are not delivering on climate change. Hence, there is a need for a new international institution that would be a repository for global knowledge on climate change, and would advise governments on climate policies, develop green projects across the Global South, mobilize financing for those projects, and support project implementation. The proposed Green Bank would be different from existing multilateral development banks: (1) it would include private shareholders as well as governments; (2) voting rights would be organized so that countries of the Global South would have the same voice as countries of the Global North and private shareholders; and (3) it would only finance green projects which could be national, regional, or global. The Green Bank would primarily support private green investments through equity contributions, loans, and guarantees. It could also support public investments by using grants to buy-down the interest on other multilateral development bank loans that finance projects that support adaptation to climate change. The Loss and Damage Fund agreed at COP27 could be the source of those grants. This proposal builds on the Bridgetown Initiative, with the aim of mobilizing private funding, in addition to the public trust fund that the initiative proposes. The Green Bank would partner with other institutions and complement the work of existing multilateral development banks, and of specialized funds. |
| Date: | 2023–02 |
| URL: | https://d.repec.org/n?u=RePEc:ocp:rpcoen:pb_06-23 |
| By: | Albanese, Marina; Varlese, Monica |
| Abstract: | Digitalization, driven by the transformative impact of digital technologies, plays a crucial role in the energy transition process. Advancements in these technologies are bringing about significant changes in how energy is generated, transmitted, and utilized. In particular, digital technologies enable modern smart grids to optimize energy management by integrating renewable energy sources more effectively. In this context, the paper explores the effects of smart grids on the energy transition, emphasizing their benefits and the key incentives that promote investment. Additionally, it reviews current trends in smart grid development across European countries, with a specific focus on Italy. The objective is to provide a comprehensive overview of the investments required to implement both existing and new smart grid projects. |
| Keywords: | Energy sector, Transition energy, Digitalization, ICT, Smart grids. |
| JEL: | O13 O33 P28 P48 Q01 Q43 Q55 Q56 |
| Date: | 2024–09–11 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121992 |
| By: | Lena Abou El-Komboz; Thomas A. Fackler; Moritz Goldbeck; Thomas Fackler |
| Abstract: | Software engineering is prototypical of knowledge work in the digital economy and exhibits strong geographic concentration, with Silicon Valley as the epitome of a tech cluster. We investigate productivity effects of knowledge worker agglomeration. To overcome existing measurement challenges, we track individual contributions in software engineering projects between 2015 and 2021 on GitHub, the by far largest online code repository platform. Our findings demonstrate individual productivity increases by 2.8 percent with a ten percent increase in cluster size, the share of the software engineering community in a technology field located in the same city. Instrumental variable and dynamic estimation results suggest these productivity effects are causal. Productivity gains from cluster size growth are strongest for clusters hosting between 0.67 and 13.5% of a community. We observe a disproportionate activity increase in high-quality, large, and leisure projects and for co-located teams. Overall, software engineers benefit from productivity spillovers due to physical proximity to a large number of peers in their field. |
| Keywords: | high-skilled labor, geography, innovation, peer effects, collaboration |
| JEL: | D62 J24 O33 O36 R32 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_11277 |
| By: | WOOLFORD Jayne (European Commission - JRC); LALANNE Marie (European Commission - JRC) |
| Abstract: | European Regional Development Fund (ERDF) programming in the 2021-2027 financial period rec-ognises the role of human capital in place-based approaches to territorial development and innova-tive transformation, allowing for investment in skills for smart specialisation, industrial transition and entrepreneurship. This research quantifies the amount of investment earmarked across the EU-27 for this, alongside similar investments under the temporary Recovery and Resilience Facility (RRF), acknowledging the importance, and yet complexity, of ensuring complementarity between the funding streams. Whilst the legal basis for both resides in the Union’s goal of strengthening eco-nomic, social and territorial cohesion and reducing disparities, the design and implementation of the two instruments reflects different governance models, performance frameworks, policy priorities and actors. The analysis aims to capture how these two instruments support skills development rel-evant to the twin transitions and smart specialisation domains across heterogeneous socio-economic and institutional territories within the context of the European Semester recommenda-tions. However, it provides an overview of proposed investment at the point of adoption of the two sets of programmes in 2022 and 2023, recognising that the results and impact of the allocations, and their integration and connection with their local innovation ecosystem, will depend upon the ter-ritorial context, the projects and beneficiaries selected and implementation approaches. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc139050 |
| By: | Christoph Carnehl; Marco Ottaviani; Justus Preusser |
| Abstract: | This paper overviews the economics of scientific grants, focusing on the interplay between the inherent uncertainty in research, researchers' incentives, and grant design. Grants differ from traditional market systems and other science and innovation policy tools, such as prizes and patents. We outline the main economic forces specific to science, noting the limited attention given to grant funding in the economics literature. Using tools from information economics, we identify key incentive problems at various stages of the grant funding process and offer guidance for effective grant design. In the allocation stage, funders aim to select the highest-merit applications while minimizing evaluation costs. The selection rule, in turn, impacts researchers' incentives to apply and invest in their proposals. In the grant management stage, funders monitor researchers to ensure efficient use of funds. We discuss the advantages and potential pitfalls of (partial) lotteries and emphasize the effectiveness of staged grant design in promoting a productive use of grants. Beyond these broadly applicable insights, our overview highlights the need for further research on grantmaking. Understudied areas include, at the micro level, the interplay of different grant funding stages, and at the macro level, the interaction of grants with other instruments in the market for science. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2410.12356 |
| By: | WOOLFORD Jayne (European Commission - JRC); ESPARZA MASANA Ricard |
| Abstract: | Higher education (HE) is increasingly recognised as a driver of innovation and an actor of change in territorial transformation. Three EU initiatives specifically support the contribution of HE to territorial development and transformative innovation and were analysed to determine the extent of their impact. The impact of the initiatives and projects funded is highly heterogeneous, reflecting distinct territorial, institutional, policy and sectoral contexts across the EU, as well as varying institutional capabilities. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc139228 |
| By: | Onuchic, Paula; Ray, Debraj |
| Abstract: | We study collaborative work in pairs when potential collaborators are motivated by the reputational implications of (joint or solo) projects. In equilibrium, individual collaboration strategies both influence and are influenced by the public assignment of credit for joint work across the two partners. We investigate the fragility of collaboration to small biases in the public’s credit assignment. When collaborators are symmetric, symmetric equilibria are often fragile, and in nonfragile equilibria individuals receive asymmetric collaborative credit based on payoff-irrelevant “identities.” We study payoff distributions across identities within asymmetric equilibria, and compare aggregate welfare across symmetric and asymmetric equilibria. (JEL A11, D82, I23). |
| JEL: | J1 |
| Date: | 2023–01–31 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:125652 |
| By: | Asuamah Yeboah, Samuel |
| Abstract: | This review examines the pivotal role of government incentives-tax breaks, subsidies, and green bonds- in advancing sustainable construction practices within developing countries. Tax incentives encourage investment in energy-efficient technologies, stimulate innovation, and enhance market competitiveness for eco-friendly buildings. Subsidies provide crucial financial support, making sustainable building materials and practices accessible, particularly in affordable housing initiatives and underserved regions. Green bonds facilitate capital for large-scale sustainable projects, fostering market confidence and scaling up green building technologies. Effective policy integration ensures alignment with national sustainability goals, supported by continuous monitoring and capacity building. This review explores how these incentives collectively promote sustainable development and resilience in the construction sector of developing economies. |
| Keywords: | Tax breaks, subsidies, green bonds, sustainable construction practices, energy efficiency, innovation, affordable housing, economic development, policy integration, capacity building |
| JEL: | H23 O13 O18 Q56 Q58 |
| Date: | 2024–08–18 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122480 |
| By: | Max Roessler (University of Greifswald); Paula Prenzel (University of Greifswald); Daniel Schiller (University of Greifswald) |
| Abstract: | Large-scale industrial settlements, such as the establishment of MNE subsidiaries, are megaprojects that face additional challenges when embedding the subsidiary in the region. Part of these challenges may be due to conflicting symbolic value of the industrial project, which can facilitate or hinder embeddedness. This study considers the relevance of symbolic value for the embeddedness of an industrial megaproject through the case of Tesla’s Gigafactory BerlinBrandenburg. Based on 23 interviews, we examine differences in the symbolic representation of the project among stakeholder groups and show that symbolic value can have supportive or divisive effects on the settlement process and embeddedness. |
| Keywords: | symbolic value, embeddedness, megaprojects, foreign direct investment, multinational enterprise |
| JEL: | F23 O22 R11 R58 |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:ahy:wpaper:wp51 |
| By: | Thapa, Manish; Jebin, Sharmin; Ababil, Saify |
| Abstract: | Urban green infrastructure, such as parks and reforestation programs, is critical for building municipal resilience to environmental, social, and economic concerns. The Metro Forest Project in Bangkok shows this by converting an abandoned site into a thriving biological forest utilizing the Miyawaki technique. The PTT Reforestation and Ecology Institute began this initiative, which focuses on using native species to reproduce past landscapes, enhancing biodiversity and ecological resilience. Despite its success, the initiative faces obstacles such as climate change effects, air and water pollution, and obtaining long-term finance. The study's goal is to assess the project's resilience by comparing it to the National Garden of Athens, identifying strengths, flaws, and areas for improvement. The study used diverse research methodologies, including qualitative and quantitative approaches, to examine the resilience of the Metro Forest Project and the National Garden of Athens. Data were gathered from both secondary and primary sources, including literature studies, field trips, and key informant interviews. The data was examined using a contextualized city resilience paradigm that considered social, environmental, economic, and institutional components. This thorough approach gave a full picture of the resilience status of both urban green areas, allowing for a comparative analysis that yielded valuable insights. According to the study, the Metro Forest Project successfully boosted urban biodiversity and resilience through innovative design and community engagement. Due to the limitation of this study, the resilience for sitting in the perspective of a broad urban fabric could not be identified. Some ongoing obstacles have been identified including the need for consistent funding, active community participation, and intensive data gathering to monitor environmental changes. To improve the project's resilience, recommendations include creating a strong data collection system, increasing community participation, improving institutional backing, and performing frequent resilience evaluations. By tackling these issues and using its strengths, the Metro Forest Project can make a substantial contribution to Bangkok's overall resilience programs, supporting a sustainable and livable city environment. |
| Keywords: | Urban Resilience, Green Infrastructure, Public Space, Eco-Friendly Space |
| JEL: | I3 R0 Z0 Z00 |
| Date: | 2024–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122419 |
| By: | Thomas Vogl; Malin Caniullan Kaiser |
| Abstract: | The objective of this study was to explore the perceived connection between the physical work environment and the cultural values of knowledge workers, focusing on a case study that compares the workplace environments of a midsized German project management company with office locations in Germany, Spain, and Ethiopia. To achieve this objective, a multi-step methodology was adopted. Initially, a thorough literature review was conducted to identify key physical workplace factors and relevant cultural values. Subsequently, the results built the base for a survey, which was distributed to the employees of the examined organization. The study's findings revealed that while clear-cut differences in workplace preferences based on national cultural values were not conclusively established, there was evidence indicating that cultural values do indeed influence preferences for physical workplace factors. These findings align with an expanding body of literature that explores the interplay between culture and the physical workplace. Thus, this study contributes novel insights into the relationship between the physical work environment and the cultural values of knowledge workers, particularly within the context of comparing German, Spain, and Ethiopian office workers. |
| Keywords: | Corporate real estate management; Cultural Values; Diversity; workplace management |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-220 |