Search

Purpose: Comprehensive project portfolio risk (PPR) analysis is essential for the success and sustainable development of project portfolios (PPs). However, project interdependency creates complexity for PPR analysis. In this study, considering the interdependency effect among projects, the authors develop a quantitative evaluation model to analyze PPR based on a fuzzy Bayesian network. Design/methodology/approach: In this paper, the primary purpose is to comprehensively evaluate project portfolio risk considering the interdependency effect using a systematical model. Accordingly, a fuzzy Bayesian network (FBN) is developed based on the existing studies. Specifically, first, the risks in project portfolios are identified from the project interdependencies perspective. Second, a fuzzy Bayesian network is adopted to model and quantify the interaction relationships among risks. Finally, the model is implemented to analyze the occurrence situation and characteristics of risks. Findings: The interdependency effect can lead to high-stake risks, including weak financial liquidity, a lack of cross-project members and project priority imbalance. Furthermore, project schedule risks and inconsistency between product supply and market demand are relatively sensitive and should also be prioritized. Also, the validity of this risk evaluation model has been proved. Originality/value: The findings identify the most sensitive risks for guaranteeing portfolio implementation and reveal interdependency effect can trigger some specific risks more often. This study proposes for the first time to measure and analyze project portfolio risk by a systematical model. It can help systematically assess and manage the complicated and interdependent risks associated with project portfolios. [ABSTRACT FROM AUTHOR]

Climate change caused by carbon emissions continuously threatens sustainable development. Due to China’s immense territory, there are remarkable regional differences in carbon emissions. The construction industry, which has strong internal industrial differences, further leads to carbon emission disparity in China. Policymakers should consider spatial effects and attempt to eliminate carbon emission inequality to promote the sustainable development of the construction industry and realize emission reduction targets. Based on the classic Markov chain and spatial Markov chain, this paper investigates the club convergence and spatial distribution dynamics of China’s carbon intensity in the construction industry from 2005 to 2014. The results show that the provincial carbon intensity in the construction industry is characterized by “convergence clubs” during the research period, and very low-level and very high-level convergence clubs have strong stability. Moreover, the carbon intensity class transitions of provinces tend to be consistent with that of their neighbors. Furthermore, the transition of carbon intensity types is highly influenced by their regional backgrounds. The provinces with high carbon emissions have a negative influence on their neighbors, whereas the provinces with low carbon emissions have a positive influence. These analyses provide a spatial interpretation to the “club convergence” of carbon intensity. [ABSTRACT FROM AUTHOR]

A synergistic perspective to selecting the right project portfolio is the key to realizing strategic organizational objectives. Based on the theory of the composite system, this paper identifies the factors that affect the science of project portfolio selection (PPS) and investigates the synergistic relationship among the organizational strategic objective subsystem, the project portfolio subsystem and the environment subsystem, which collectively constitute the composite system of project portfolio selection. Utilizing the concept of order parameters, an order parameter system is built for each subsystem to reflect the synergistic relationships in the composite system of PPS. The PPS model is constructed based on the degree of synergy in the composite system by describing the order degree of the subsystem and the synergy degree of the composite system, which helps to quantify the synergistic relationships among these subsystems. The effectiveness and feasibility of the proposed model are demonstrated and validated by a case study. [ABSTRACT FROM AUTHOR]

To explore the mechanism for generating and promoting project portfolio (PP) synergy, a model applying the causal loop diagram (CLD) is established. The efforts have been done include four parts. First, a sustainable objective system is determined through the improved balanced scorecard. Second, three categories of manufacturing projects are identified to illustrate the characteristics and objectives. Third, a CLD model is constructed based on the objective achievement process of PPs. Fourth, suggestions are made to promote the objective realization by synergy. The major result is that the generation and promotion mechanism are portrayed through the causal loops and feedbacks of CLD. CLD is adopted as the analytical approach for superiority in visualizing complex relationships. The main findings are: (1) The synergy generation mechanism is specified that PP synergy generates from the collaborative behaviors among PPs. (2) PP synergy promotes objective realization through additional effects arise from complex feedbacks among behaviors. [ABSTRACT FROM AUTHOR]

With economic development and globalization, more organizations have been cooperating with foreign enterprises, which brings not only opportunities but also management difficulties and competitions with organizations. Organizations must improve their management and adapt to changing market conditions and the requirements and needs of its customers to maintain and strengthen its position in the market. Management by Project (MBP) uses technical methods of modern project management (PM) to manage various tasks and activities that are considered as projects. It is an effective way to solve management problems and improve management levels and enterprise competitiveness. However, few small and medium-sized enterprises apply MBP in their operation and management processes. Therefore, this paper presents a new idea to promote the application of MBP and the formation of a PM culture within society. In this paper, we searched a major database using the systematic literature review method and analyzed the articles directly or indirectly linked to our paper to obtain literature supporting the views of this article. First, this paper presents a new kind of management culture from the social aspect, termed as Social Project Culture (SPC), which can promote sustainable development and improve the management level and efficiency of organizations by promoting MBP application across society. Second, by analyzing the SPC definition, its three functions, i.e., project management behavior, management and risk control capacity, and international competitiveness, are provided. Then, to help organizations apply this method, an evolutionary path is proposed, including the creation stage, formative stage, mature stage, and heritage stage. Finally, to ensure the continued optimization of SPC, four safeguard measures in terms of theory, institution, behavior, and ideology are proposed. [ABSTRACT FROM AUTHOR]

This paper considers a prefabricated construction supply chain (PCSC) consisting of a project contractor who shoulders the on-site assembly task and orders prefabs from a prefabricated factory. To mitigate the heavy double handling costs associated with early and late delivery of prefabs, the project contractor requires the right quantity and exact type of prefabs are carried to construction sites according to its assembly schedule. This is known as just-in-time purchasing (JITP). However, JITP may increase the pressure on the prefabricated factory to hold excessive inventory or to compress production time. For these reasons, the prefabricated factory may be reluctant to switch to JITP. To initiate the operation of JITP and establish a win-win outcome, side-payment contracts including a delivery-time dependent subsidy and two constant transfer terms are designed as coordinate schemes. Employing Stackelberg, we explore participants' optimal decisions. The results show that the JITP yields higher profit for PCSC, and the proposed contracts are capable of achieving a win-win coordination. In particular, the constant transfer cost term is relatively equitable to participants, while the constant cost-sharing transfer term outperforms the constant transfer cost term under a high double handling cost. Moreover, the prefabricated factory earns more profit when the double handling cost for early or late delivery is high. Some managerial implications are also obtained and help to strengthen cooperation among participants and promote the sustainable development of the PCSC. • The effect of just-in-time purchasing on double handling costs is investigated by mathematical model. • Information sharing between participants under just-in-time purchasing is considered and quantified. • The different contract combinations are employed to provide participants with various coordination schemes. • Just-in-time purchasing yields higher profits for the prefabricated construction supply chain. • Side-payment contracts can resolve profit conflicts between participants arising from just-in-time purchasing. [ABSTRACT FROM AUTHOR]