IMPROVING PROJECT PORTFOLIO DECISION MAKING IN THEORY AND PRACTICE

Project Portfolio Management (PPM) is “a dynamic decision process wherein a list of active devel-opment projects is constantly revised. In this process, new projects are evaluated, selected and priori-tised; existing projects may be accelerated, killed or reprioritised, and resources are allocated and reallocated among the projects in the portfolio” (Gutierrez & Magnusson, 2014). PPM is perceived to be a means to implement strategy through projects and programs. This study focuses on ICT projects. Current PPM research is focused on project selection, prioritization, and portfolio balancing in few research areas and there are major limitations to the approaches used in practice. There is clearly a need for more empirical PPM research. The following main research question was employed: How can an information intensive organization improve decision making for project selection within its project portfolio management process? A second problem is that there seems to be no agreement on what constitutes PPM. This is a second aim of the study. Three data collection methods were used to answer both questions. As a result, it can be stated that PPM is still in its infancy. Based on the study, seven recommendations are made for improving PPM decision making

A critical examination of the effectiveness of faculty-based student learning support

This thesis presents an investigation into the effectiveness of faculty-based student learning support and comprises three volumes. Volume 1 provides an overview of the background literature, research methodology, ethical and reliability considerations linked to two projects whose overarching theme is the support and improvement of the student experience. The overview begins with an outline of the aim of this thesis, followed by a synopsis of the literature concerning student support in higher education and the use of technology to support learners. The methodological framework is then discussed and a brief introduction to the projects is provided. The overview concludes with an exploration of the effectiveness of faculty-based student learning support and the presentation of a new blended approach to the organisation, delivery and typology of advising. This seeks to demonstrate the strength of a blended approach and thus makes a contribution to the practice, theory and method of supporting student learning. Volume 2 discusses the Advice Shop project and considers the processes, methods and ethics of this student learning support. A summary of eight interventions is presented together with details of how the project was subsequently rolled out across the University. A consideration of the organisational model and personnel involved in student advising is also offered. The volume concludes with student and staff feedback and a discussion of how the project aims have been achieved. Evidence of the research output and components of practice relating to Project 1 can be found in Volume2 Part 2. Volume 3 presents a discussion of Project 2 - the use of technology to support learners. The project presents two technology-enhanced interventions - an electronic student attendance monitoring scheme, and the development of two online learner support tools using QuestionMark Perception as the delivery software. The methods and ethical considerations used to establish and implement these interventions are present together with feedback from students and staff. The volume concludes with a discussion of how the aims of the project have been achieved. Evidence of the research output and components of practice relating to Project 2 can be found in Volume 3 Part 2

Influence of Portfolio Management in Decision-Making

Purpose: Today’s manufacturing facilities are challenged by highly customized products and just in time manufacturing and delivery of these products. In this study, a batch scheduling problem has been addressed to enable on-time completion of customer orders in a lean manufacturing environment. The problem is optimizing the partitioning of product components into batches and scheduling of the resulting batches where each customer order is received as a set of products made of various components. Design/methodology/approach: Three different mathematical models for minimization of total earliness and tardiness of customer orders are developed to provide on-time completion of customer orders and also, to avoid excess final product inventory. The first model is a non-linear integer programming model whereas the second is a linearized version of the first. Finally, to solve larger sized instances of the problem, an alternative linear integer model is presented. Findings: Computational study using a suit set of test instances showed that the alternative linear integer model is able to solve all test instances in varying sizes within quite shorter computer times compared to the other two models. It has also been showed that the alternative model is able to solve moderate sized real-world problems. Originality/value: The problem under study differentiates from existing batch scheduling problems in the literature owing to the inclusion of new circumstances that are present in real-world applications. Those are: customer orders consisting of multi-products made of multi-parts, processing of all parts of the same product from different orders in the same batch, and delivering the orders only when all related products are completed. This research also contributes to the literature of batch scheduling problem by presenting new optimization models.Peer Reviewe

Lower Mekong Portfolio: Interim Evaluation

This report summarizes a portfolio evaluation of the MacArthur Foundation's conservation investments in the Lower Mekong region since 2011. It is explicitly a portfolio-level evaluation, focusing on common themes rather than individual grants. The evaluation involved understanding the portfolio context through reviewing relevant documents and speaking with donor partners; gathering data from MacArthur grantees; calibrating initial evaluation findings through consultations with independent regional experts and donor partner grantees; improving future evaluation ability by cooperating with NatureServe to improve the Lower Mekong Dashboard; and presenting results in this evaluation report and to MacArthur directly

A conceptual framework for changes in Fund Management and Accountability relative to ESG issues

Major developments in socially responsible investment (SRI) and in environmental, social and governance (ESG) issues for fund managers (FMs) have occurred in the past decade. Much positive change has occurred but problems of disclosure, transparency and accountability remain. This article argues that trustees, FM investors and investee companies all require shared knowledge to overcome, in part, these problems. This involves clear concepts of accountability, and knowledge of fund management and of the associated ‘chain of accountability’ to enhance visibility and transparency. Dealing with the problems also requires development of an analytic framework based on relevant literature and theory. These empirical and analytic constructs combine to form a novel conceptual framework that is used to identify a clear set of areas to change FM investment decision making in a coherent way relative to ESG issues. The constructs and the change strategy are also used together to analyse how one can create favourable conditions for enhanced accountability. Ethical problems and climate change issues will be used as the main examples of ESG issues. The article has policy implications for the UK ‘Stewardship Code’ (2010), the legal responsibilities of key players and for the ‘Carbon Disclosure Project’

Taming the ‘trolls’ : major public projects in the making

Major projects are not yet sufficiently understood, and practices in project governance and project management do not yet reflect the current state of knowledge of large, complex projects. In an attempt to understand the reasons, the authors therefore investigated the latest relevant findings documented in three countries: the UK, Norway, and the Netherlands. Their examination of the effect of implementing governance frameworks for public projects in these countries indicates that efforts to improve major projects are giving rewards: Even if complex public projects, the ‘trolls’, become more challenging, efforts to ‘tame’ them are improving. The results of the study show that project planning has improved and cost overruns are reduced. However, recent observations indicate that the effect may wear off remarkably quickly. Hence, the need for continuous improvement and change is prominent. There are fundamental limitations in the use of formal systems as they cannot detect all problems and there are limitations to humans' ability in terms of optimism bias that cannot be eliminated

Disruptive Innovation: Enabling Practitioners to Tackle the "Innovators Dilemma" With Graphical Techniques - A Focus on Resource Allocation

This paper presents the findings of part of a 30 month investigation, conducted to better understand the persistent failure of management practitioners to fund potentially disruptive innovations. A Mode 2 case study strategy was employed. The iterative transfer of knowledge, between four industrial cases and academia, has successfully culminated in new academic understanding of disruptive innovation and guidance for practitioners. It was found that funding decisions are mainly constrained by mental not physical processes. Organisations wishing to pursue disruptive innovations can challenge psychological attachments to incrementalism, and overcome the funding barrier, with a holistic understanding delivered through graphical portfolio tools

The role of learning on industrial simulation design and analysis

The capability of modeling real-world system operations has turned simulation into an indispensable problemsolving methodology for business system design and analysis. Today, simulation supports decisions ranging from sourcing to operations to finance, starting at the strategic level and proceeding towards tactical and operational levels of decision-making. In such a dynamic setting, the practice of simulation goes beyond being a static problem-solving exercise and requires integration with learning. This article discusses the role of learning in simulation design and analysis motivated by the needs of industrial problems and describes how selected tools of statistical learning can be utilized for this purpose

Catalyzing Change in Secondary Education in Africa and India

Mathematica Policy Research started working with the PSIPSE in late 2014 as its learning partner. In this brief, the organisations share their independent analysis of the PSIPSE approach to effecting change in secondary education—starting with the partnership's theory of change, countries of focus, and interventions supported. They end by presenting the monitoring, evaluation, and learning (MEL) framework developed for the PSIPSE and distilling some implications of an analysis for the future

Benefits realisation management: panacea or false dawn?

Benefits Realisation Management (BRM) is becoming an increasingly important aspect of project and programme management. However, commentators have observed that the practice of BRM is often flawed, and have made suggestions as to how practice might be improved. This paper is concerned with the reasons why the implementation of BRM might not be straightforward, by focusing on the underlying assumptions. It will approach the issue by drawing on the author's experience from the 1990s and 2000s in working in the management of government-funded regeneration programmes in the UK. In this field there was a rigid benefits management framework, although it precedes the development of BRM. The paper will argue that there are important underlying conceptual issues in benefits management which have practical implications and need to be recognised in the development of theory for BRM