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on Project, Program and Portfolio Management |
| By: | Mascioli, Lorenzo; Leek, Lauren Caroline (European University Institute) |
| Abstract: | The scholarly literature on development projects primarily focuses on implementation and outcomes, yet little is known about how projects are designed and funded. This study addresses this gap by investigating how local communities initiate development projects. We propose that communities learn from their geographic neighbors and past experiences, with local administrative capacity moderating this learning process. Using data from Italy’s National Recovery and Resilience Plan, we find robust evidence of positive spatial and temporal effects and a significant interaction between temporal effects and administrative capacity. Additional evidence from project descriptions and interviews with beneficiaries elucidates the mechanisms driving these effects. |
| Date: | 2025–11–14 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:k27ax_v1 |
| By: | Ting Jiang; Kwok Yuen Fan; Eddie ChiMan Hui; Jian Fu Shen |
| Abstract: | This study examines the impact of climate risk on the adoption of green real estate projects and its broader implications by investing the U.S. real estate companies. Drawing on a comprehensive dataset of real estate projects spanning 2000 to 2023, we identify a positive relationship between green project adoption and climate risks. While market reactions to announcements of green projects are generally neutral, firms facing higher climate risk exposure experience significantly greater abnormal returns, suggesting that market participants value such initiatives as strategic responses to firm-level climate risk exposure. Lastly, our findings show that green projects enhance financial performance for firms with greater climate risks, reflected in increased market valuations and operating profitability. However, these projects provide limited environmental impact, with negligible reductions in greenhouse gas emissions intensity and minimal mitigation of reputation incidences, apart from governance incidences. These findings suggest that the financial benefits of green projects depend on firms’ climate risk profiles, but their ability to deliver meaningful environmental outcomes remains constrained. |
| Keywords: | Climate Risk; Corporate Environmental Strategy; Green Projects; Real Estate Investment |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_139 |
| By: | Mantey, Vida; Bosch, Christine; Missiame, Arnold; Birner, Regina; Birkenberg, Athena; Yameogo, Viviane Guesbeogo; Mburu, John |
| Abstract: | Dairy production is an important contributor to food security and poverty reduction, but it is also a major source of greenhouse gas (GHG) emissions. The development of smallholder agricultural carbon projects, such as the Mt. Elgon project, provides an opportunity for farmers to receive benefits for adopting sustainable practices that not only potentially increase farm productivity but also reduce GHG emissions. While there is growing evidence that agricultural cooperatives in conventional development projects improve the adoption of agricultural technologies and the economic performance of smallholder farms, there is a research gap on the role that dairy cooperatives can play in smallholder agricultural carbon projects. This study examines the role of dairy cooperatives in smallholder agricultural carbon projects and assesses the impact of cooperative membership on the technical efficiency of smallholder dairy carbon farmers in Western Kenya. The study used a mixed methods approach. A participatory and visual mapping tool, Net-Map, was used to identify key actors and their linkages. Stochastic frontier and endogenous switching regression models were used to estimate technical efficiency and assess the impact of cooperative membership on the technical efficiency of smallholder dairy carbon farmers, respectively. The results show that dairy cooperatives in carbon projects play an important role in project design and implementation, as well as in carbon monitoring and reporting. On average, smallholder farmers are 35.3 percent technically efficient, and cooperative members have lower technical efficiency than non-members. This finding can be attributed to the way these dairy cooperatives were set up and the fact that some farmers joined the cooperatives to participate in the project. Furthermore, an average treatment effect on the treated (ATT) and an average treatment effect on the untreated (ATU) of 0.311 and 0.251 respectively was observed. In general, the study concludes that without critical sources of heterogeneity, dairy cooperatives can support smallholder carbon farmers not only to improve their efficiency but also to promote sustainable dairy farming. |
| Keywords: | Livestock Production/Industries |
| Date: | 2024–08–07 |
| URL: | https://d.repec.org/n?u=RePEc:ags:iaae24:344343 |
| By: | Euan Ritchie (Center for Global Development) |
| Abstract: | This paper reviews the performance metrics by which the World Bank judges the success of its climate mitigation projects. These indicators provide valuable insights into what such projects are aiming to achieve, as well as shedding light on what the World Bank is actually achieving through each of its projects. Overall, despite common conceptions, performance metrics suggest that World Bank mitigation projects are rarely motivated by reducing greenhouse gas (GHG) emissions. This metric is rarely tracked, and projects tend to focus instead on energy access and other infrastructure. However, where the World Bank does report its GHG emissions impact, performance metrics suggest that the World Bank mitigation projects are reasonably cost-effective in reducing emissions, with an average cost per ton of CO2 equivalent averted of between $26 and $43. But projects financed from trust funds specifically targeting climate objectives avert GHG emissions at much lower costs. |
| Date: | 2025–11–06 |
| URL: | https://d.repec.org/n?u=RePEc:cgd:ppaper:369 |
| By: | Marijana Sreckovic; Bernhard Wurdinger |
| Abstract: | This research investigates the potential of blockchain technology for real estate development, focusing on the economic, legal, and technical conditions necessary for implementing tokenization in this sector. Real estate development is traditionally a high-risk and capital-intensive activity, often characterized by expensive financing and lengthy project timelines. Blockchain technology offers a promising solution by enabling the division of property ownership and preliminary project development into digital tokens, allowing for more efficient financing and liquidity. The study examines the conditions under which tokenization can be implemented in real estate projects, explores suitable token structures, and analyzes its impact on the project conception phase. It also considers how the type and intended use of a property influence tokenization strategies. Through expert interviews, the empirical analysis identifies potential applications and challenges. The findings suggest that blockchain technology holds significant potential for transforming real estate development, creating new business models, and enhancing efficiency. However, the successful standardization of tokenization requires its integration into the entire project development process. |
| Keywords: | Blockchain technology; Financing; New business models; tokenization |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_157 |
| By: | Oliver, Miquel; López-Fernandez, Daniel |
| Abstract: | Generative AI (GenAI) has rapidly gained traction as a transformative technology, promising to revolutionize business processes across various sectors. However, the gap between theoretical potential and real-world implementation remains substantial, with many enterprises struggling to transition from experimental pilots to scalable applications. This study critically examines 31 GenAI projects from different industries evaluating the strategic, technical and operational factors that influence their success or stagnation. To ensure a methodologically rigorous and comparable analysis, we adopt a mixed-methods approach that integrates primary data—collected through direct project involvement and stakeholder feedback— with secondary data from project documentation, industry reports, and academic research. Our case selection is based on practical exposure to enterprise GenAI implementations, focusing on projects where organizations have actively engaged in experimentation and deployment efforts. Rather than applying rigid selection criteria, we leverage first-hand access to real-world implementations to extract patterns, challenges, and success factors across different organizational contexts. This approach allows us to identify both industry-specific challenges and broader cross-sectoral trends in GenAI adoption. Our findings indicate that most GenAI projects remain stalled at the PoC phase, with organizations facing significant obstacles in scalability, predictability, and enterprise-wide integration. The primary barriers include: (1) Unpredictability of AI outputs, limiting reliability in mission-critical applications; (2) Regulatory, ethical, and legal concerns, particularly in relation to data privacy, intellectual property, and compliance with evolving AI governance frameworks. (3) Fragmented AI strategies within enterprises, leading to siloed innovation efforts and a lack of alignment between technical development and business objectives. Despite these challenges, early indicators of business value are emerging, particularly in process automation, knowledge augmentation, and customer interaction enhancement. However, without robust governance structures, clear strategic alignment, and adaptive technical strategies, enterprises risk failing to realize the long-term benefits of GenAI. This research contributes to both academic and industry discourse by providing a nuanced, multi-sector examination of GenAI implementation. By identifying critical success factors and common failure points, we offer actionable insights for enterprises aiming to transition from experimentation to sustainable deployment. The study ultimately highlights the conditions under which GenAI can move beyond hype to deliver tangible enterprise value, emphasizing the importance of human-AI collaboration, regulatory foresight, and business-driven AI adoption strategies. |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:itse25:331294 |
| By: | Frank Milne (Economics Department Queen’s University Kingston Ontario, Canada) |
| Abstract: | For the past 20 years, Australia has introduced policies encouraging and subsidizing renewable electricity generation. Since the election of the Australian Labor Party government in 2022, these policies have been accelerated. We show that international evidence of the heavy cost of renewable energy projects has been ignored. Cost-benefit studies show that these projects cannot be justified with any reasonable price for carbon dioxide emissions. Consequently, the Australian economy has suffered greatly increased prices for electricity provided by the grid. In turn, this has increased the rate of deindustrialization in key industries, contributed to a cost-of-living crisis for consumers and made the country more strategically vulnerable. |
| JEL: | Q2 Q3 Q4 H54 |
| Date: | 2025–11–24 |
| URL: | https://d.repec.org/n?u=RePEc:qed:dpaper:4638 |
| By: | Marzia Morena; Tommaso Truppi |
| Abstract: | Limited funds for public works and bureaucratic limitations in the allocation of public money push Public Administrations to identify different way to collect additional resources in order to finance projects and social activities. Innovative alternative instruments as civic crowdfunding could be helpful to ease this critical situation in different fields of intervention, from social impact schemes to the preservation and enhancement of environment and the cultural heritage. Civic crowdfunding could provide public authorities with a transparent decision-making process for implementing these projects, giving citizens the opportunity to contribute. This paper highlights the potentialities of civic crowdfunding related to small Italian municipalities, including some case studies, pointing out its strengths and weaknesses, starting from an analysis carried out by the Permanent Observatory on Local Public Administration (OPPAL) of the REC Real Estate Center of the ABC Department of Politecnico di Milano. |
| Keywords: | Civic Crowdfunding; small Italian municipalities |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_21 |
| By: | Aziz Can ensazl; Ece Özmen |
| Abstract: | Sustainable urban transformation emerges as a comprehensive solution to the infrastructure challenges and environmental degradations caused by industrialization and rapid urbanization, addressing economic, social, and environmental dimensions. This study analyzes the direct and indirect economic impacts of urban transformation projects, emphasizing employment creation and value increases in the construction sector and related industries. Additionally, the research highlights the contributions of green investments to price increases in the real estate market and their benefits in terms of energy efficiency and environmental sustainability. The study examines two example projects from Turkey, Piyalepaa Istanbul and WE Haliç, in detail. It was determined that these projects were developed in accordance with sustainable urban transformation principles under green building certifications such as LEED-ND and generated significant economic multiplier effects. The findings reveal that sustainable approaches provide not only environmental benefits but also long-term economic advantages. The study demonstrates that promoting green investments contributes to making cities more resilient and livable while fostering sustainable growth in the real estate market. |
| Keywords: | economic multiplier; LEED-ND; Real Estate Market; sustainable urban transformation |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_178 |
| By: | Khondaker Golam Moazzem; Abrar Ahammed Bhuiyan |
| Abstract: | This brief, drawing on a CPD study, explores the current state of investment facilitation in Bangladesh’s renewable energy sector, particularly at the stages of business establishment and project implementation, with a special focus on Chinese investors. |
| Keywords: | renewable energy investment, foreign investment barriers, investment facilitation, regulatory transparency, digital governance, inter-agency coordination, responsible business conduct, anti-corruption practices, Chinese investors, UNCTAD framework |
| Date: | 2025–10 |
| URL: | https://d.repec.org/n?u=RePEc:pdb:pbrief:81 |
| By: | Marianne Wyrwoll; Elisabeth Beusker |
| Abstract: | A multitude of profitability indicators are at the disposal of the construction and property industry for the purpose of evaluating the profitability of construction projects. These indicators offer a comprehensive overview, enabling the synthesis of important information. Nevertheless, the application of profitability indicators also results in the compression of data, potentially leading to the loss of crucial information. The failure to consider prospective developments in property development decisions can incur substantial risks. As part of the research, profitability indicators were analysed with regard to their application contexts in real estate development. A total of 249 real estate developers in Germany were surveyed on the use of profitability indicators in the project business. In addition, data was collected on the respective companies, on the employees responsible for the application of the indicators, and on the specific projects. Overall, 63 profitability indicators were identified. The findings indicate that the application of indicators is not solely based on their target orientation, but that alternative factors also influence the application of profitability indicators. The objective of this study is twofold: firstly, to ascertain the application of these indicators in the context of real estate development, and secondly, to identify inaccuracies in the application. |
| Keywords: | application context; profitability indicators; Real Estate Development |
| JEL: | R3 |
| Date: | 2025–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2025_164 |