Managing highly innovative projects: the influence of design characteristics on project valuation

The climate change debate and economic recovery strategies in various industries demand highly innovative projects featuring stretched performance goals for developing clean technology. These projects face multiple sources of uncertainty in high risk situations, and require specialized know-how and longer periods for revenue growth than their counterparts in other industries. We use data from 207 clean technology projects funded by the U.S. Advanced Research Projects Agency-Energy to conduct a comparative study of how operations design can hedge risk and enhance project valuation in technology development and deployment stages. We find that deployment feasibility is significantly and positively related to project valuation. On the other hand, stretched technical performance goals, development feasibility and market growth targets are associated with lower valuation. We also find some significant differences for these results across institution types: mature firms, start-ups, universities, and research centers. We examine the risk profile of these projects by technology and institution type, and discuss the managerial and policy implications for these findings

The outlook of building information modeling for sustainable development

As human needs evolve, information technologies and natural environments require a wider perspective of sustainable development, especially when examining the built environment that impacts the central of social-ecological systems. The objectives of the paper are (a) to review the status and development of building information modeling (BIM) in regards to the sustainable development in the built environment, and (b) to develop a future outlook framework that promotes BIM in sustainable development. Seven areas of sustainability were classified to analyze forty-four BIM guidelines and standards. This review examines the use of BIM in sustainable development, focusing primarily on certain areas of sustainability, such as project development, design, and construction. The developed framework describes the need for collaboration with the multiple disciplines for the future adoption and use of BIM for the sustainable development. It also considers the integration between “BIM and green assessment criteria”; and “BIM and renewable energy” to address the shortcomings of the standards and guidelines