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Project portfolio implementation under uncertainty and interdependencies: A simulation study of behavioural responses

Published on May 21, 2019in Journal of the Operational Research Society 1.75
· DOI :10.1080/01605682.2019.1609890
Lin Wang (CAS: Chinese Academy of Sciences), Martin Kunc14
Estimated H-index: 14
(University of Southampton)
+ 0 AuthorsJianping Li (CAS: Chinese Academy of Sciences)
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References41
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Published on Jan 1, 2018in International Journal of Project Management 4.69
Pierre A. Daniel1
Estimated H-index: 1
,
Carole Daniel1
Estimated H-index: 1
Abstract In project management research, it is acknowledged that two perspectives on project performance must be considered: project efficiency (delivering efficient outputs) and project success (delivering beneficial outcomes). The first perspective is embedded in a deterministic paradigm of project management, while the second appears more naturally connected to the emerging non-deterministic paradigm. Complexity and uncertainty are key constructs frequently associated with the non-determinist...
Published on Apr 1, 2017in International Journal of Project Management 4.69
Lin Wang1
Estimated H-index: 1
(NPU: Northwestern Polytechnical University),
Martin Kunc14
Estimated H-index: 14
(Warw.: University of Warwick),
Si-jun Bai1
Estimated H-index: 1
(NPU: Northwestern Polytechnical University)
Project Implementation is not a trivial task even after careful planning and scheduling. One of the reasons is the existence of unexpected events at strategic and operational levels during the project execution process. This paper presents a system dynamics model of a project monitoring and control system. Embedded with both strategic and tactical uncertainties, the model experiments with typical remedial actions to disturbances during the implementation of a project under a behavioral paradigm....
Published on Nov 1, 2015in IEEE Transactions on Engineering Management 1.87
Julian Kopmann2
Estimated H-index: 2
(Technical University of Berlin),
Alexander Kock14
Estimated H-index: 14
(Technische Universität Darmstadt)
+ 1 AuthorsHans Georg Gemünden31
Estimated H-index: 31
(Technical University of Berlin)
Practitioners place strong emphasis on business cases with the expectation that using business cases to inform and drive investment decisions will assist in creating value from those investments. Maximizing the value generated by project investments is a central aim of the project portfolio management, and the business case provides the underlying rationale for the evaluation of the value created in each project. However, research regarding the use of business cases at a project portfolio level ...
Published on Oct 1, 2015in International Journal of Project Management 4.69
Thomas Lechler14
Estimated H-index: 14
(Stevens Institute of Technology),
Janice Thomas17
Estimated H-index: 17
(Athabasca University)
Abstract When to terminate a new product development (NPD) project is an important economic decision and an interesting managerial dilemma. To date research examining NPD termination decisions has been largely focused on the single project level examining the impact of formal termination decision processes. This study examines these decisions at the organizational level exploring the impact of both executive advocacy behaviors and organizational context on the quality of 150 termination decision...
Published on Jun 1, 2015in European Journal of Operational Research 3.81
Morteza Jafarzadeh1
Estimated H-index: 1
(FUM: Ferdowsi University of Mashhad),
Hamed Reza Tareghian5
Estimated H-index: 5
(FUM: Ferdowsi University of Mashhad)
+ 1 AuthorsReza Ghanbari11
Estimated H-index: 11
(FUM: Ferdowsi University of Mashhad)
In this paper, we address the issue of optimal selection of portfolio of projects using reinvestment strategy within a flexible time horizon. We assume that an investor intends to invest his/her initial capital on the implementation of some projects in a flexible time horizon. The investor’s motivation for considering a flexible time horizon is to maximize his/her gain by determining the optimal time horizon for investing on the selected portfolio of projects. Projects have different durations a...
Published on Apr 1, 2015in Journal of the Operational Research Society 1.75
Özge Pala4
Estimated H-index: 4
(Koç University),
Dirk Vriens8
Estimated H-index: 8
(Radboud University Nijmegen),
J.A.M. Vennix16
Estimated H-index: 16
(Radboud University Nijmegen)
Escalation of commitment, the tendency of decision makers to keep on investing in losing courses of action, has been shown to be a costly decision bias that affects many areas of decision making. Even though escalation is a widely studied phenomenon, there has been comparatively little research on how to avoid this bias. The present study focuses on de-escalation of commitment and proposes that causal loop diagrams (CLDs) can help to decrease escalating commitment to a failing course of action. ...
Published on Jul 1, 2014in International Journal of Project Management 4.69
Miia Martinsuo21
Estimated H-index: 21
(TUT: Tampere University of Technology),
Tuomas Korhonen5
Estimated H-index: 5
(TUT: Tampere University of Technology),
Teemu Laine7
Estimated H-index: 7
(TUT: Tampere University of Technology)
Abstract Uncertainties in the organization, external environment and from single projects may hamper project portfolio performance unless managed properly. This paper introduces a framework on uncertainties and their management in project portfolios and pursues increased understanding on how managers can take uncertainty into account better. We explore uncertainties, how managers frame them as opportunities or threats, and the actual practice of managing them across ten R&D project portfolios. T...
Published on Feb 1, 2014in Project Management Journal 2.04
Tuomas Korhonen5
Estimated H-index: 5
(TUT: Tampere University of Technology),
Teemu Laine7
Estimated H-index: 7
(TUT: Tampere University of Technology),
Miia Martinsuo21
Estimated H-index: 21
(TUT: Tampere University of Technology)
This article presents empirical results on different managers' viewpoints regarding the sources and management of project portfolio uncertainty. As a key result, this study demonstrates the versatility of uncertainties experienced by managers, the limited degree of perceived control over them, the use of an almost complete management control package in managing uncertainties, and the necessity of managers' cooperation in the skilled use of the management control package when managing uncertainti...
Published on Aug 1, 2013in International Journal of Project Management 4.69
Miia Martinsuo21
Estimated H-index: 21
(TUT: Tampere University of Technology)
Abstract Companies struggle with the sub-optimization and changes among their projects, even if various normative instructions and good practices have been introduced for project portfolio management. At the center of this paper is the need to understand project portfolio management in practice and in context. The purpose is to report a review on recent empirical research literature regarding project portfolio management, to draw attention to the limitations with viewing portfolio management as ...
Published on Jun 1, 2013in Information Technology & Management
I. Robert Chiang6
Estimated H-index: 6
(Fordham University),
Manuel A. Nunez8
Estimated H-index: 8
(UConn: University of Connecticut)
Managing project portfolios has been a challenge to many IT organizations due to the size and complexity of their initiatives that are often cross-functional, fast changing, and transformational in nature. A governance process on project solicitation, evaluation, and monitoring is thus essential to ensure the resulting portfolio creates tangible values, balances across priorities, and supports business objectives. An optimization model to streamline the decision processes for IT portfolios and p...
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