The purpose of this thesis was to explore what challenges are identified in project portfolio management (PPM) in an internal multi-project environment. The aim of this study was to find the underlying reason for the occurrence of challenges in terms of how these challenges occur, and why do they occur. To realize the purpose and the aim of the study, the research was conducted at ABB Components, a business unit of ABB Group. Further, based on identified challenges provide a set of guidelines and recommendations for managing and countering the challenges. To understand the research problem a literature review was employed and a case study was conducted at ABB Components. The purpose of the literature review was to gain a theoretical background related to the research topic, identify challenges or problems, and potential solutions, with the purpose of establishing a connection to the challenges identified in the case study. The empirical work consisted of the case study conducted at ABB Components and was constituted by interviews person. The analysis of the results was validated with a workshop held with interviewees, with discussions regarding the findings. Guidelines and recommendations for managing challenges related to project portfolio management were designed from the results of empirical and theoretical work. The 11 main challenges related to project portfolio management were identified throughout three defined project phases, initiation of a project, execution of a project and project closure, and was appearing either in one phase or across phases. The challenges in this research were correlated to four main causes; limited resources (budget & time), limited resources (personnel), vague directives, and project maturity. The identified challenges can be encountered and managed by utilizing existing models for project management, improved information handling, expanding the notion of criteria for project success, performing a resource capacity analysis, and planning for the project closure. The theoretical and practical work have contributed to a collective analysis of what types of challenges are evident in phases throughout a single project, and what outcomes these challenges can have on a project portfolio in an internal multi-project environment and . It has to some extent indicated differences among challenges and causes evident in multi-project settings, for projects that are classified as internal development or product development, implicating differences throughout the project phase. Furthermore the challenges have pivoted around the three main themes centered indicating that there are challenges related to each phase of the project life, as well as challenges which are apparent across the project phases.

Thesis (Ph. D.)--University of Chicago, Dept. of Economics, December 2002. / Includes bibliographical references. Also available on the Internet.

Bakgrund Byggföretagen står för en väsentlig del av det svenska näringslivet och har de senaste åren upplevt en hög omsättningstillväxt. Dessa företag arbetar i en projektbaserad miljö vilket skapar ett behov av en styrning för att hantera alla projekt ur ett helhetsperspektiv. Med hjälp av Project Portfolio Management kan byggföretagen hantera den risk och låga marginaler som präglar branschen och i bästa fall öka sin lönsamhet. Syfte Syftet med denna studie är att skapa en helhetsbild av hur hanteringen av projektportföljen ser ut i svenska byggföretag och att analysera vilka faktorer som är betydelsefulla vid projekturvalet. Detta sker genom att utveckla en teoretiskt förankrad referensram som sedan används för att analysera byggföretagens process för hanteringen av företagets projektportfölj. Metod Studien är baserad på en kvalitativ forskningsmetod där semi-strukturerade intervjuer genomförts med beslutsfattare och chefer inom respektive byggföretag. Intervjuerna har genomförts för att söka efter mönster och samband mellan de studerade byggföretagens hantering av projektportföljen. Slutsats De svenska byggföretagens hantering av projektportföljen sker i en decentraliserad organisation där graden av formell styrning varierar beroende på företagets storlek. En formalisering av byggföretagens PPM kan bidra till förbättrad riskhantering och en möjlighet för ökad lönsamhet. Resurser, tid och kompetens är grundläggande kriterier för att byggföretaget ska kunna ta sig an ett projekt. Vem kunden är och vad det är för typ av projekt har också en betydelse då byggföretagen är riskaverta och föredrar att ge sig in i projekt de är duktiga på. / Background The construction industry represents a vital part of the Swedish GDP and have been experiencing a high revenue growth during the last years. The construction companies work in a project based environment which calls for a holistic management system. Using Project Portfolio Management, the construction companies can manage their risks and low profit margins that characterizes the industry and in best case scenario increase their margins. Purpose The purpose of this thesis is to create a holistic view of the management of the project portfolio in Swedish construction companies and to analyze which factors are important in the project selection process. This is done by developing a theoretically-based reference frame that is used to analyze the construction companies process for managing their project portfolios. Method The thesis is based on a qualitative research method where semistructured interviews were conducted with decision makers and managers within each construction company. Interviews have been conducted to search for patterns and relationships between the studied construction companies' management of the project portfolio. Conclusio The management of the Swedish construction companies’ project portfolios occurs in decentralized organizations where the degree of formal management varies depending on the size of the company. A formalization of construction companies' PPM can contribute to improved risk management and an opportunity for increased profitability. Resources, time and skills are fundamental criterias for the construction company to be able to undertake a project. Other significant criterias in this process are the customer and the type of project.

Traditional manufacturing firms today are on the way to extend their product portfolio with services in order to broaden their offering and to strengthen the relation to their customers. New services are being developed, old services are substituted and replaced and existing services adapted, while the amount of services tends to increase in total. As the number of services increases, so does the administrative work and complexity that comes along with services. This thesis aims at investigating how to handle the rising amount of data internally created around services and which service data need to be managed to describe a service. The objective is to find a way that allows Volvo to focus on the development and adaptation of services and not being distracted with work on administration of data around services, but rather focus on value-creating work. Different types of metadata are identified that describe a service along its lifecycle, e.g. versions, lifecycle stages, dependencies to other services, etc. The way is summarized in a framework that illustrates which data are needed and how this information can be managed. Besides the literature study, a benchmarking study is conducted within three other, global operating companies that have made their way from a manufacturer to a service provider or are still on the way to become one. The objective is to analyze their way on handling service data and to compare those to the one of Volvo and use the gathered information to provide a recommendation that suits Volvo’s way of working. The benchmarking study aimed at investigating the current status and future objectives of the firms through interviews with service experts. The results show that there is a great variation among the firms, including Volvo. While the third benchmarking firm has a mature way of dealing with services in their administration, Volvo and the benchmarking firm 2 are at an early stage in the servitization process. However, benchmarking firm 1 has an intermediate state that is strongly supported by an existing ERP system that is capable of registering service data. The Volvo Group acts in a strong competitive market that demands fleet management services, maintenance agreements and repair contracts in addition to the product offering. A lean way of service data management with high efficiency allows Volvo to compete in this market successfully. Services can be developed quicker by reuse of existing modules, a tracking of changes allows users to see the evolution of a particular service and the impact of a change can be estimated with the right system that considers dependencies among services. A solution to improve in the service data management is presented in the developed framework of this thesis. It is one way to account for the growing number of data and services and to simplify the daily work with services with a software-based solution. It can help to approach the growing number of services and to structure them in a daily work environment as well as from a more holistic portfolio management perspective.

The literature reveals that, behavioural finance lends some support to the methodologies of both fundamental and technical analysis. Behavioural Finance supports the concept of investment behaviour being grounded in two dimensions, viz., the dimensions of emotion and rationality. The evidence, presented in the literature suggests that fundamental analysis is grounded in the rational investor, while technical analysis is an attempt to model the behavioural side of investing through trend following, charting and the use of indicators (e.g., momentum, stochastic, etc.). Typically large investment houses tend to use both technical and fundamental analysis; technical analysis appears to be used primarily for timing, while fundamental analysis is used to establish intrinsic or fair value of the share under focus – thus making it easy to establish whether the share is cheap or expensive.

No description available.

Thesis (MBA)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: In this study investors were informed of the benefits of diversification and the reduction of systematic risk when property is included in an asset allocation portfolio. It also provided investors with information that will assist them in deciding on asset class allocations, specifically including real estate within a mixed-asset portfolio for both the short and long term. The method applied to answer the research questions started with a detailed literature review in order to gain a thorough understanding of the topic. The second part involved a quantitative approach. The South African Property Index (SAPI), All Share Index (ALSI) and All Bond Index (ALBI) total returns were analysed using descriptive statistics in order to gain knowledge about the return (mean) and risk (standard deviation) performances of the three asset data series. The final part analysed the allocation weights of assets in a mixed portfolio to determine the optimal portfolio weights to either reduce risk or enhance returns. It was found for the period under review that property quarterly returns outperformed equity and bonds. The compound annual growth rate for the period was calculated and it was found that property had a growth rate of 26.1 per cent, equity a growth rate of 17.9 per cent and bonds a growth rate of 10.9 per cent. The risk rate for property was also determined and it was higher than for equity and bonds. The study also found a correlation between bonds and properties, meaning that adding bonds to a real estate portfolio would not give much diversification benefit. Equity to bonds had a negative correlation, showing diversification benefits of adding bonds to an equity portfolio. However, equity to property had a low correlation, meaning that adding property to an equity portfolio would reduce portfolio risk and increase returns. Should an investor not want to be exposed to more risk than simply holding one asset, namely bonds, a portfolio gives substantially higher returns without increasing the risk The study also observed the changes in the asset class returns during certain economic activities. Bonds were found to be the most resistant of the three asset classes and equity the most affected.

The organization I work in has 13 subsidiary businesses operating in the branded footwear and apparel industry. The industry currently faces significant macroeconomic and industry challenges. One of our biggest challenges is how to avoid excessive and wasteful new product development whilst still building an attractive range of products for the customer. So the focus of my research is on the management control and governance of the New Product Development (NPD) process to solve a pressing business problem. However, there is a gap in the literature. Many authors have claimed that our knowledge of the governance of NPD processes is incomplete and there is a dearth of actual studies in this area. My literature review looked at management control and in particular at the enduring problem of the need to generate control without stifling creativity. The literature led me to focus on the use of feedforward controls to influence NPD management teams to improve portfolio value and strategic alignment whilst simultaneously encouraging NPD experimentation. During this research I developed the concept of Feedforward Anticipatory Control (FAC), which encompasses the combination of feedforward control and double-loop learning. From this start my research question became “How does the use of FAC influence NPD management teams to improve portfolio value and strategic alignment?” From theory and my initial case study research I developed, tested and refined a tool for ascertaining the level of FAC sophistication in use by NPD teams in their development process. The tool was then used in action research interventions to help the teams develop their sophistication in the use of FAC. The tool was found to be useable, useful and have value. The action research case studies were embedded in a case study protocol to ensure the rigour of my research. This involved developing a framework to investigate the consequences of my interventions, in terms of both hard performance metrics and softer team perceptions. The contribution is in the use of management controls in NPD. The findings show that different levels of FAC sophistication can be applied in NPD and that the use of higher levels of FAC influences NPD teams to improve portfolio value and strategic alignment. The contribution to practice is an intervention “toolkit” that can influence NPD teams to develop higher levels of FAC sophistication and generate improvements in NPD portfolio performance.

This thesis presents three essays on the Chinese equity market. Specifically I focus on the long run common trends and microstructure of the market after a set of regulatory events that surrounded a trading reform in 2001. The major goal of the thesis is to establish the interaction between the composition and medium of the transaction environment and the overall observed trends within the market at the aggregate level. In Chapter 2, I present a model of common trends amongst the Chinese equity market segments and implement a robust test for cointegrating relations.  In Chapter 3, I derive a multivariate linear rational expectations model in the presence of heteroscedasticity and information asymmetry.  In Chapter 4, I implement this theoretical model for A and B share cross listed stocks on the Shanghai stock exchange and impute the model parameters.  Whilst these chapters concentrate on China, the methodology and economic rationale are of practical relevance to all countries and most types of traded securities.

The literature reveals that, behavioural finance lends some support to the methodologies of both fundamental and technical analysis. Behavioural Finance supports the concept of investment behaviour being grounded in two dimensions, viz., the dimensions of emotion and rationality. The evidence, presented in the literature suggests that fundamental analysis is grounded in the rational investor, while technical analysis is an attempt to model the behavioural side of investing through trend following, charting and the use of indicators (e.g., momentum, stochastic, etc.). Typically large investment houses tend to use both technical and fundamental analysis; technical analysis appears to be used primarily for timing, while fundamental analysis is used to establish intrinsic or fair value of the share under focus – thus making it easy to establish whether the share is cheap or expensive.