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Volume XI - Issue I - January 2009
Featured Papers
By Russ Martinelli, Jim Waddell, and Tim Rahschulte Introduction Visionary leaders of today have recognized that competitive advantages can be gained over their rivals with an effective globalization strategy. Globalization is now an essential business strategy for companies engaged in developing products and services. Those organizational leaders who are not currently engaged in global expansion of their businesses have come to realize that the competitive distance between themselves and the market leaders within their industries is vast and expanding. This expansion will continue unless they enter the globalization race. However, it should also be recognized that the competitive advantage established by the globalization leaders was not established overnight. In reality, these globalization leaders have spent many years, and have learned many hard lessons, establishing their global business models. In contrast, newcomers to the globalization game are in many cases being forced into the global arena in order to compete with and survive against the globalization leaders. Read complete paper in English
Project Families and their Application
for Project Evaluation
By Stanisław Gasik Introduction There may be several reasons for project grouping. The best-known of them are achievement of an organization’s strategic goals (these project aggregates being called portfolios) or better management (for which we have programs). But sometimes it is natural to focus on another type of project sets. Consider a situation in which a project-oriented company invests in a new technology. The effects of such investments should be observable in projects applying this technology. So in order to fully analyze this project one should take into account the investment project and all commercial projects executed as an effect of the investment project. Or looking from another point of view: consider a commercial project that delivers its products to a customer. When analyzing such a project one should take into account not only the project under consideration, but also all of the investment projects which made the execution of this project possible. There may also be other, non-financial reasons for collectively analyzing more than one project – like tracing changes in processes of project execution or tracing innovations introduced and used by projects. So there may be another reason for project grouping: analyzing them. This analysis in turn is performed for the purpose of better management of projects performed in an organization. This paper describes project families, a way of grouping projects for analytical purposes originally presented by the author at the 22nd IPMA World Congress (Gasik, 2008) Read complete paper in English
Yours, Mine and Ours:
Risk and Risk Allocation By Bob Prieto
Public private partnerships are much like marriages. There are good ones, bad ones, and some which just seem to struggle forward. And similar to the outset of any new marriage, each party brings to the table different assets, with different senses of value and ownership. When each brings significant assets to the table, there may be a pre-nuptial agreement that defines how those individual assets may be used in good times and how they will be divided in bad times. For public private partnerships, comprehensive development agreements and definitive concession agreements represent the pre-nuptial basis for sharing rewards and allocating risks. Some risks will accrue to only one partner in this very public marriage while others, much like community property, will be shared. In this paper, we will examine some of the risks that accrue to the different parties in this “marriage” and how that risk allocation changes as the nature of the marriage changes. Read complete paper in English
Innovative Product R&D – The Value of Project Management Practice in China By Professor Hubert Vaughan
Project Management is more than delivering project deliverables on time, under budget, with quality specified. A majority of project assignments were “Missions Impossible” to Project Managers and it becomes a challenge for a professional project manager’s initiative and creative thinking during project life cycle. It is what we called competency and sometimes changed the project organization as well as the engineering life cycle. 1 The R&D model in modern China. In the mid-50s, the Chinese Central Government was determined to transform the nation from an agricultural country into an industrialized country as quickly as possible. Being closed off to the rest of the world at that era of history, the government decided to move ahead with a vision but lacked a clear path to achieve the final goal. They finally took the approach of “Plan, Execute, and Adjust” along the way. This approach is theoretically viable for delivering strategic outcomes (which is still being used to achieve economic growth and political changes) and filtered into a tactical process for delivering objectives. This “Plan, Execute, and Adjust” has become a culture since then, and became the Do and Fix (DAF) model that lasts for more than half a century in China for Engineering and Scientific works. Read complete paper in English
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