Out of 74,053 projects containing temporal data, we selected successfulprojects each of which had a project goal equal to or greater than $100 since it is less interesting to find patterns from projects whose goal is less than $100, considering them as noisy data. Finally, we had 30,333 successfulprojects. Since each project has the different duration (e.g., 30 days or 60 days), first, we converted each project duration to 20 states (time slots). Then, in each state, we measured obtained pledged money during each state. We created 20 temporal/time buckets and inserted each project’s pledged money during each state to each bucket (e.g., the 1st bucket contains each project’s pledged money obtained during the first state – first 5% duration in this context). To make sure which project got relatively higher or lower pledged money in each bucket, first we measured the mean (µ) and standard deviation (σ) of pledged money in each bucket for all successfulprojects. Then, we normalized pledged money (pm i ) of each project in the i th bucket (i.e., pledged money
Different research studies have been made which describe and summarise the most common failure factors in IS projects. Most of the results show similar failure factors but each factor can have different priorities which link to the project and the
Industrial investment is one of the most important factors that help achieving sustainable economic development. This study aims to explore the obstacles, which constrain industrial investments in Ma'an Governorate (located in south Jordan) and the incentives to promote these investments. It also aims to explore investment projects with successful future opportunities. A survey on government and private departments’ managers, individual entrepreneurs, and professionals in Ma’an Governorate was conducted for data collection. A total of 300 questionnaires were distributed. Out of this number, only 186 were returned. The response rate was about 58%. One-sample t-test and descriptive statistics showed that there are obstacles facing industrial investments, on the other side it showed that there are real incentives for industrial investments. The research findings show that the Governorate of Ma'an is eligible to attract various industrial projects, which have opportunities to be highly successful in the future such as glass factories, plastics, marble, clothing, and construction materials industries. This study recommends Jordanian government to improve basic infrastructure, promote private industrial investments and exploit the opportunities in the area through directing industrial investments towards the available resources. It also recommends promoting the governorate of Ma'an through media and highlights the prospects of success in various fields of industrial investment in a positive way.
The brief is the decisive interactive element in which the client’s needs and requirements are translated and incorporated into the building process. If this process can take place in a way that strengthens and develops relationships in a positive way, there is every chance that the brief will also improve and strengthen the client’s business activity. Today more and more professionals consider briefing to be an important factor for project success. Thus, it is important for practitioners to have a better understanding of the critical success factors for briefing and the interactions between them. Improper design briefing is a challenge to most of the construction projects. Without a proper communication strategy between clients, stakeholders and design team, the project output might experience failure and under performance. It is necessary and essential to ensure adequate design briefing at the conception stage of every construction process. The clarity of client’s requirement and the proper documentation of the requirements in the design briefing process would most likely help construction projects improve performance delivery. This goes on to say that more attention should be given to the design briefing process in the construction process because of its importance in improved performance delivery. Capturing knowledge that exists in the design briefing process through elicitation helps in problem solving, managing change, increased performance, satisfied clients, higher bidding power, to name a few. The effective implementation of knowledge capturing could reduce costly mistakes and ensure improved services to clients. Knowledge capture enables organisational growth as a result of number of successfulprojects completed. Knowledge capture is not about a one-off investment. It is an investment that requires consistent attention over a substantial period of time, even after it begins to deliver results. More research effort needs to be targeted at improving knowledge capturing in the design briefing process and identifying effective knowledge capturing tools and techniques that are more efficient in the requirement elicitation process in the construction industry.
PPP implementation in Malaysia has proven to provide many benefits to the Government and the public as a whole. Through PPP projects, Malaysia has experienced many successfulprojects that can benefit the public, such as KL Sentral, Light Rail Transit (LRT), medical facilities, many highways, bus stations and others (Abd Karim, 2011; Beh, 2010). However, there are also constraints that hinder the successful implementation of PPP projects through the possibility of project default, projects completed at a higher cost to the Government and where value for money is not realised (Cheung et al., 2009). The growing importance of PPP implementation as well as the existence of the constraints in its implementation in Malaysia motivated the researcher to undertake the present study, which seeks the perception of key PPP players with the focus on the negative or hindrance factors of successful PPP implementation. In particular, there are two objectives of the present study. First, it intends to examine the importance of factors that hinder the successful adoption of PPP in Malaysia. Second, it aims to investigate the differences in the perceptions of the Government and the private sector pertaining to the hindrance factors.
The use of indicated tools during pre-project planning as part of project management strategies is dismal. Lessons learnt from previous projects at 66.3% is the only reasonably considered factor. The rest like project definition index is rarely or never used at 93.8%. Other factors not usually used are agreement matrix, alignment thermometer and benchmarking. Scope definition checklist, value engineering and brainstorming are inadequately used at 37.5%. Ideally, clients play a significant role in construction projects and clear scope definition is useful. The role of clients in construction projects can be rated at 18% overall for successfulprojects execution otherwise if they do not cooperate with consultants, it is very rare for project performance to achieve above 70% on overall performance success. The perfection of these tools usage will go a long way in ensuring efficiency in the construction industry with closer coordination, monitoring and evaluation of the performance of construction projects.
Historically, the DoD has adopted successful commercial-sector initiatives to improve efficiency and effectiveness. Total Quality Management (TQM) and the current Federal Acquisition Regulation (FAR) Part 12 commercial acquisition techniques are examples of DoD implementing commercial-sector initiatives to drive improvements. In this tradition and as part of the transformation initiative, the DoD has already begun to implement some KM projects to improve efficiency and effectiveness. For the USAF specifically, the office of the Chief Information Officer (CIO) is currently working on developing and implementing an enterprise level KM strategy. This strategy focuses on establishing an infrastructure (establishing leadership and implementation teams and deploying software that serves as a “portal” for knowledge sharing throughout the USAF) (Nguyen, 2002). Another USAF initiative currently being developed is Aeronautical Enterprise Knowledge Management (AEKM), which focuses on multi-discipline collaboration (“What is AEKM?” 2002). In addition to these enterprise level projects, there are a variety of organizational level projects. For example, the Contracting
Information Communicating Technology (ICT) and technology, has caused significant changes to the execution of projects and programs. These changes require managers and individuals who initiate public, private and community solution programs to have a high level of emotional intelligence. A lack of emotional intelligence on the part of project and program managers can affect the entire managerial system, including the financial ad- ministration and the implementation of project goals. This would mean that the project manager did not meet the competence baseline set by IPMA. Poor emotional intelligence on the part of project and program managers has a negative impact on the management of human resources, which plays a key role in project execution. Low emotional intelligence also affects financial resources administration and other material resources because they all interact with human resources. Emotional intelligence is a multi-dimensional concept that links emotion and cognition to improve human interactions and poses greater challenges to the management and financial adminis- tration of projects .
The Malaysian Government has adopted the legislation specific approach in managing BOT projects. For instance in the road transportation sector, the Federal Roads (Private Management) Act 1984 was enacted to allow the Government to grant to private developers the right to collect tolls on public roads. This Act enabled private developers to construct, operate and maintain new road systems and thereafter recover the costs of doing so through the collection of tolls. Then, in September 1990, the Government of Malaysia enacted the Electricity Supply Act 1990 which started the privatisation of the electricity supply industry. Subsequently, two important regulations were made under the Act; namely the Licensee Supply Regulations 1990, and Electricity Regulations 1994. In addition, the Malaysian Grid Code is being introduced as a set of comprehensive technical and operational requirements for all plants connected to the national grid to ensure safe, secure, reliable and economic electricity supply system, and access to it of all users without discrimination. ( Jacob, 1997). 3.1. Laws Relating to BOT
Figure 2, area C). A very innovative product or a totally unproven business strategy typically falls in this group: the complexity is high because of the many interrelated aspects that make up a business and its environment, and the change is large because it breaks with the existing ways of doing business. The easy way out is to say “a guess is the best we can do.” This argument could even be defended as some researchers argue that there is a minimal penalty for not using optimal game theory solutions, especially in complex competitive environments 12 and other researchers find that profitability correlates negatively with extensive business data collection and processing. 13 Some authors 14 argue that theory, not data, can help us analyze problems that differ significantly from what we know, in particular radical innovation. However, theory without data gives only qualitative results. Qualitative results can be useful in many situations: in terms of evaluating projects they may, for example, identify one alternative that is better than another. 15
authority of project managers have in traditional projects (Gandomani et al, 2013). An Agile project depends on a product backlog which is delivered over several iterations called sprints. Every one of them passes through all periods of software development: necessities definition, examination, plan, advancement and testing (Hass, 2007). Toward the end is conveyed a model that is assessed by the configuration team and customers and output reviewed with respect to the project advancement. The study was based on joint project exceuted by Chinese and german teams. Haider (2007) say that One of the key objectives of a project is to convey the project on time and budget regardless of requirements, scope and, time changes. Cost estimation unquestionably has been a difficult task in software development and a lot of research is done on traditional cost estimation systems yet little is looked into on agile procedures. Agile provides a way to maintain cost and time along with consistently changing business condition and prerequisites. This investigation decides the effect of agile approaches on cost estimation procedures in software advancement industry by concentrating on various sort of agile methodologies being utilized in software development industry in few projects in the region. This examination uncovers how cost estimation toward the start of every cycle makes a difference organization in making more effectively and precise gauge than traditional cost estimation methods. The most well- known estimation methods are estimates provided by specialist or domain expert in the software development organization. The utilization of agile methodologies in software development industry for cost estimation objects is still new concept. For the concept to be propagated in future on large scale, a detailed examination on agile techniques is required
Construction industry is one of the most important sectors that stimulates economic growth in any country (Ortiz, Castells & Sonnemann, 2009). According to Economic Watch (2010), this industry’s contribution to global GDP is estimated to be 10% and the total amount of all resources that are used in construction sector sums up to about 50% of the world resources. It is therefore necessary to ensure that the processes within the construction industry are prudently and effectively managed, bearing in mind the impact this industry has in the world economy. Owoko (2013), argued that developments in this industry are rapidly increasing in many aspects, some of them are the technological complexity and size of the projects, different demands from stakeholders and the need to cope with the interdependencies of activities within a project. The most important underlying factor to note is that the built environment provides a significant contribution to the GDP of any nation, this directly points to the magnitude and impact that this industry plays in the world’s economy in general. Weiss and Potts, (2012) noted that there has been continuous use of projects as a measure of a sound strategic management of an organization. The cost and duration of time taken to complete a project and deliver to a satisfied client determines its success. This successful completion is as a result good management decisions such as cost containment, project scope and quality (Seddon, 2008).
Despite the Mode selected above, all business and management research projects can be placed on a continuum based on their purpose and context according to Saunders, Lewis, and Thornhill (2007). Refer to figure 5. The continuum on one extreme is research that is done to understand the processes of business and management and their outcomes. This form of research is termed basic, fundamental or pure research. Mode 2 and Mode 3 do not fall into this section of the continuum because they do give consideration to the practical consequences of research. The other side of the continuum is called applied research. This type of research deals with issues that are relevant to managers and are presented in such a way they can understand and act on.
This research is applicable that research literature has been used to explore successful factors of knowledge management projects from Rehman and Mahmood (2010) model with factors of excellent management supports (1), proper knowledgeable culture (2), financial resources (3), technologic infrastructure (4), intersections relationship (5), human resources development (6), scholar people employment (7), knowledge management strategy (8), knowledge performance motives and rewards (9), knowledge management systematic activities and processes (10), business principal values (11) and organizational infrastructure (12). Notice that these factors are numbered according to their mental and relative important not to make any problem in interpretative structural modeling, then it is made using experts ideas structural self-interactive matrix and in the next step reachability matrix is made, by its help we can make all inputs and outputs matrix and finally, research interactive model comes out. Self-interactive matrix sign includes:
In the case of projects and innovative initiatives, you may include the problem solved, context of implementation, added value of the project, methodology of resolution, solution/conclusions, and any other useful information to synthetically understand the main ideas of your project/initiative. Keywords (max 50 characters)
Sustainability describes a form of economy and society that is lasting and can be lived on a global scale. Sustainable development ties together concerns for carrying out capacity of natural systems with the social challenges facing humanity. The society-changing potential of the claim: „More justice between generations, more global justice at the same time‟ faces the peril of getting out sight. Sustainability is just not the trivial general claim to take social, economic and environmental policy serious independent of any relationship in time and space and to strike a sound balance between these aspects. In its literal rudiments, sustainability means a capacity to maintain some entity, outcome, or process over time. According to the economist Amartya Sen‟s “development as freedom” dictum (1999), we create options for the future by creating options for today‟s poor because more options will drive greater development. The study was based on this theory due to its relevance in addressing global and local sustainability issues especially development projects aimed at alleviating poverty at grass root level.
Recently, attention has been devoted to the allocation of projects between traditional bank financing, involving loans, and venture capital, which typically involves equity contracts. Ueda (2000) models the choice of startup entrepreneurs between bank and venture capital financing when intellectual property rights are not well protected. In contrast to banks, venture capitalists have some technological expertise that allows them to better screen projects, but also to steal the idea and conduct the project without the entrepreneur. In order to receive finance, entrepreneurs must reveal their idea, either to a bank or a venture capitalist. Disclosing the idea to a venture capitalist makes him fully informed about the quality of the project. However, if the entrepreneur chooses bank financing, the bank receives a signal that imperfectly reveals the quality of the project. The choice of financing method reflects a trade-off between the cost of asymmetric information under bank financing, and the threat of expropriation with venture capital. If entrepreneurs have low collateral, they tend to choose venture capital, since banks must charge a higher interest rate for screening purposes. Venture capital is also more attractive when intellectual property rights are better protected, since it reduces the threat of expropriation.
example, in 2018, the global IT spending is forecasted to total US$3.7 trillion (a 4.3% increase from 2017) focusing on artificial intelligence, cloud computing platforms, and digital business (Gartner Inc., 2017, 2018). Despite this growth in IT investments, IT projects still fail at an alarming rate (Standish Group, 2013, 2015). IT project managers are still battling to manage and deliver successful IT projects. Failed IT projects have resulted in organizations not achieving some of their strategic objectives, wasting vast amounts of money and not realizing a return on their IT investment. The global state of IT projects is shown in Table 1.
A trend emerges in Table 3, the three basic criteria of time, cost and quality appear regularly. Additionally, client satisfaction was deemed as significant and must be an objective to achieving overall project success. Westerveld (2003) factored in the appreciation of the various parties involved both directly and indirectly on the project but may lead to issues of conflict when determining whether a project was successful or not. The critical success factors uncovered many varying factors that could be implemented and used as a tool for success. Before considering these factors, it is important to reiterate that SMEs are generally characterised as having basic organisational structures with simple planning and control systems in place. Therefore, a new process of project management for SMEs would be more beneficial as a simplified methodology with specific reference to selected focus on key factors. Having reviewed the factors considered above, six were highlighted as having the greatest potential influence: