Is project management the new management 2.0?

This paper considers the evolving nature of project management (PM) and offers a comparison with the evolving nature of management generally. Specifically, we identify a number of management trends that are drawn from a paper that documents a proposed ‘Management 2.0’ model, and we compare those trends to the way in which PM is maturing to embrace the challenges of modern organizational progress.Some theoretical frameworks are offered that assist in explaining the shift from the historically accepted ‘tools and techniques’ model to a more nuanced and behaviorally driven paradigm that is arguably more appropriate to manage change in today’s flexible and progressive organizations, and which provide a more coherent response, both in PM and traditional management, to McDonald’s forces. In addition, we offer a number of examples to robustly support our assertions, based around the development of innovative products from Apple Inc. In using this metaphor to demonstrate the evolution of project-based work, we link PM with innovation and new product development.

The Chrysler effect : the impact of the Chrysler bailout on borrowing costs

Did the U.S. government's intervention in the Chrysler reorganization overturn bankruptcy law? Critics argue that the government-sponsored reorganization impermissibly elevated claims of the auto union over those of Chrysler's other creditors. If the critics are correct, businesses might suffer an increase in their cost of debt because creditors will perceive a new risk, that organized labor might leap-frog them in bankruptcy. This paper examines the financial market wherethis effect would be most detectible, the market for bonds of highly unionized companies. The authors find no evidence of a negative reaction to the Chrysler bailout by bondholders of unionized firms. They thus reject the notion that investors perceived a distortion of bankruptcy priorities. To the contrary, bondholders of unionized firms reacted positively to the Chrysler bailout. This evidence suggests that bondholders interpreted the Chrysler bailout as a signal that the government will stand behind unionized firms. The results are consistent with the notion that too-big-to-fail government policies generate moral hazard in the credit markets.Debt Markets,Bankruptcy and Resolution of Financial Distress,Emerging Markets,Deposit Insurance,Access to Finance