This document proposes a feasibility study to identify factors that would impact the growth of the blue economy in Europe. The study would use various analytical tools and research methodologies to examine market size, growth trends, stakeholders, risks, and other economic and environmental factors. The objectives are to identify innovations that could optimize profitability in the sector, strengthen market surveys and risk assessment, identify potential bottlenecks, and ensure the project's alignment with EU legal frameworks. A combination of desk research, stakeholder consultations, surveys, and analytical tools like SWOT and input-output analysis would be used to provide recommendations to maximize sustainable growth in the blue economy.
A feasibility study involves analyzing a proposed project to determine if it is worthwhile to pursue further development. Key factors analyzed in a feasibility study include the potential market, costs, demand, social and environmental impacts. A complete feasibility study contains analyses of commercial/market factors, technical aspects, organizational structure, financial forecasts, environmental impacts, economic effects, and socio-political considerations. The study assesses all relevant inputs and outputs to determine if the proposed project is a viable investment option.
This document provides an overview of project formulation, including its key elements and significance. It discusses the need for project formulation, highlighting issues like technology selection, resource constraints, and legal/policy impacts. The main elements of project formulation are identified as feasibility analysis, techno-economic analysis, project design/network analysis, input analysis, financial analysis, social cost-benefit analysis, and project appraisal. The document also distinguishes project formulation from a detailed project report, and outlines the steps in India's planning commission's project appraisal process.
This document discusses project success criteria for engineering and refurbishment projects at Eskom, a South African power utility. It conducted a survey of stakeholders to identify key success criteria. The survey found that while time, cost and quality were important, other factors like satisfying business goals, customer satisfaction, and impact on plant were rated as even more important. Different stakeholders had differing views, with clients prioritizing satisfying goals, customer satisfaction and impact, while project managers prioritized quality, time and cost. Most respondents felt that time, cost and quality were not the only important success criteria. The document concludes that multiple factors are important for measuring project success.
This document discusses project management and monitoring the business environment. It outlines six sectors to monitor: economic, government, technological, socio-demographic, competition, and supplier. When screening project ideas, factors to consider include compatibility with the promoter, consistency with government priorities, availability of inputs, adequacy of the market, reasonableness of cost, acceptability of risk level, and eliminating ideas that are technically unsound, have no market, inadequate inputs, or are too costly. Environmental monitoring refers to observing an environment, characterizing its quality, and establishing parameters to quantify an activity's impact in a risk assessment report.
Public enterprises are businesses owned and controlled by the state to serve public interests. They produce goods like steel, chemicals, and transportation equipment. While they may earn profits, their primary goals are economic development, equitable distribution of wealth, and strategic national interests. Financial advisors play an important role in public enterprises by providing financial guidance and oversight. Major capital expenditures require approval from the government according to guidelines evaluating technical, economic, social, and environmental impacts.
This document discusses different organizational models for project management: functional, pure project, and matrix.
The functional model involves projects being managed within existing functional departments, allowing flexibility in staffing but risking that projects are not the primary focus.
The pure project model makes projects independent from the main organization, giving full responsibility and authority to project managers but risking duplication of resources across multiple projects.
The matrix model aims to combine advantages of the functional and pure project models by drawing on existing departments' expertise while also giving projects dedicated resources and leadership. It represents a middle ground between the two extremes.
A feasibility study involves analyzing a proposed project to determine if it is worthwhile to pursue further development. Key factors analyzed in a feasibility study include the potential market, costs, demand, social and environmental impacts. A complete feasibility study contains analyses of commercial/market factors, technical aspects, organizational structure, financial forecasts, environmental impacts, economic effects, and socio-political considerations. The study assesses all relevant inputs and outputs to determine if the proposed project is a viable investment option.
This document provides an overview of project formulation, including its key elements and significance. It discusses the need for project formulation, highlighting issues like technology selection, resource constraints, and legal/policy impacts. The main elements of project formulation are identified as feasibility analysis, techno-economic analysis, project design/network analysis, input analysis, financial analysis, social cost-benefit analysis, and project appraisal. The document also distinguishes project formulation from a detailed project report, and outlines the steps in India's planning commission's project appraisal process.
This document discusses project success criteria for engineering and refurbishment projects at Eskom, a South African power utility. It conducted a survey of stakeholders to identify key success criteria. The survey found that while time, cost and quality were important, other factors like satisfying business goals, customer satisfaction, and impact on plant were rated as even more important. Different stakeholders had differing views, with clients prioritizing satisfying goals, customer satisfaction and impact, while project managers prioritized quality, time and cost. Most respondents felt that time, cost and quality were not the only important success criteria. The document concludes that multiple factors are important for measuring project success.
This document discusses project management and monitoring the business environment. It outlines six sectors to monitor: economic, government, technological, socio-demographic, competition, and supplier. When screening project ideas, factors to consider include compatibility with the promoter, consistency with government priorities, availability of inputs, adequacy of the market, reasonableness of cost, acceptability of risk level, and eliminating ideas that are technically unsound, have no market, inadequate inputs, or are too costly. Environmental monitoring refers to observing an environment, characterizing its quality, and establishing parameters to quantify an activity's impact in a risk assessment report.
Public enterprises are businesses owned and controlled by the state to serve public interests. They produce goods like steel, chemicals, and transportation equipment. While they may earn profits, their primary goals are economic development, equitable distribution of wealth, and strategic national interests. Financial advisors play an important role in public enterprises by providing financial guidance and oversight. Major capital expenditures require approval from the government according to guidelines evaluating technical, economic, social, and environmental impacts.
This document discusses different organizational models for project management: functional, pure project, and matrix.
The functional model involves projects being managed within existing functional departments, allowing flexibility in staffing but risking that projects are not the primary focus.
The pure project model makes projects independent from the main organization, giving full responsibility and authority to project managers but risking duplication of resources across multiple projects.
The matrix model aims to combine advantages of the functional and pure project models by drawing on existing departments' expertise while also giving projects dedicated resources and leadership. It represents a middle ground between the two extremes.
Do you really understand your customers? Our experience shows that innovation projects are much more likely to succeed by applying this simple interview-based approach.
121220012 incentives in the chinese construction industryAshutosh Patekar
The document summarizes a study on the use of incentives in the Chinese construction industry. It found that while current contracts allocate risks, they lack incentives to promote better performance. Respondents agreed incentives make risk allocation fairer by sharing rewards for good performance. Quality objectives were most important. Incentives are mainly decided by clients during construction and bidding, though some are negotiated. Nearly half of projects spent limited resources on incentives under 0.5% of costs, but incentives were deemed effective in motivating performance.
This document provides a product development plan for a transaction management system called eClaim that targets the insurance sector. Over 5 years, it projects sales to increase from 2 deals in year 1 to 5 deals in year 5. Net profit is projected to rise from $31,000 in year 1 to $132,145 in year 5. The plan outlines the product features, pricing strategies, staffing needs, financial projections, and sales distribution targets across various Middle Eastern countries.
This document provides an overview of economic forecasting. It defines forecasting and economic forecasting, and outlines the 7 key steps in the economic forecasting process: 1) determining the forecast's use, 2) identifying items to forecast, 3) setting time limits, 4) collecting data, 5) selecting a forecasting model, 6) estimating the forecast, and 7) making the forecast. It also discusses forecast types, including qualitative vs. quantitative and short, medium, and long-term, as well as common forecasting methods.
Developing a new product development & launch process Case: Company Xvarun rathod
This document provides an overview of developing a new product development and launch process for Company X. It begins with introducing the Stage-Gate model, which is a structured process used for new product development and launch. It describes the key stages of idea generation, scoping, building a business case, development, testing and validation, and launching the product onto the market. The document then discusses applying this model to Company X by analyzing the company's current process, identifying gaps, and developing recommendations to create a customized process to increase the success of new product launches. In the end, it proposes a new product launch process tailored for Company X to clarify the steps from idea to market launch.
How do we measure of r & d (research and development) in companiesBhavana Rohidekar
This document discusses measuring the performance of research and development (R&D). It outlines several dimensions for analyzing R&D performance, including inputs, throughput, outputs, and outcomes. It then describes specific methods used by Bharat Electronics Limited (BEL), an Indian company, to measure R&D performance. BEL measures the number of in-house projects developed, patents obtained, papers published, value added, knowledge management contributions, and R&D awards. Challenges in measuring R&D performance include selecting appropriate measures and determining norms for comparison.
This document summarizes findings from two EU projects, INNOVATION IMPACT and IMPLORE, that studied the innovation impacts of EU Framework Programme (FP) R&D projects and national R&D programmes. The projects found that a majority of FP participants reported commercializable outputs and programme managers reported high innovation impacts. FP projects were found to focus more on knowledge sharing and exploration rather than direct commercialization. Additionality was higher for smaller firms and riskier projects. The document recommends focusing on thematic areas' needs rather than differences between instruments and not expecting huge impacts from individual projects.
In the past, technology implementation was a lower priority project tacked on after other business projects were complete. Today, businesses can use technology to run a more profitable and competitive business. They can strengthen product development, gather customer insight, increase worker efficiency, and much more. With thorough research and planning, business technology projects can reinforce the vision, mission, values, and goals of an organization. Consider creating a business technology strategy.
This document provides an overview of forecasting techniques. It defines forecasting as estimating future demand and resources needed to meet that demand. The document outlines the steps in the forecasting process, including determining the purpose and time horizon of forecasts, selecting a technique, gathering and analyzing data, preparing forecasts, and monitoring forecasts. It also discusses different types of forecasts like short, intermediate, and long-term and qualitative and quantitative approaches to forecasting. The overall purpose is to help operations managers understand how to develop accurate forecasts to aid in planning and decision making.
The document discusses success factors for new product development processes. It categorizes 57 success factors into organizational, technological, market, and environmental factors. These factors are mapped to six phases of product development cycles: idea generation, product concept testing, product design, prototype development, market testing, and commercialization. Understanding which factors are most important in each phase can help organizations optimize resources and improve new product development.
Rammer - Measuring output of process innovation at the firm levelinnovationoecd
This document discusses measuring the output of process innovation at the firm level using data from German panel surveys. It presents two measures of process innovation output: (1) the share of unit cost reduction from process innovation and (2) the share of sales growth resulting from quality improvements. The document finds that both measures work reasonably well, though responses to the quantitative parts are categorical. Process innovation output is positively associated with firm performance indicators like export share and profit margins. While determinants of undertaking process innovation can be identified, the level of output is more difficult to explain.
Scenario method for defining the strategy in the garment industrydr Gordana Colovic
The document discusses the scenario method, which provides a qualitative description of evolution from present to future rather than numerical predictions. Scenarios are hypothetical sequences of events that determine cause-and-effect links and start from a goal to explore ways to achieve it. Scenarios help fashion companies prepare for unexpected events by having pre-prepared plans to respond faster with less damage. Scenarios are constructed by establishing driving forces, trends, and combinations to obtain alternative future situations over 5-10 years to inform strategic options. They provide a wider vision of alternative events to support or avoid.
Muzi - measuring firm level innovation using short questionnairesinnovationoecd
- A study conducted innovation surveys in 15 developing countries using both a short 9-question survey and a longer, more in-depth survey to test if the short survey accurately captured firm-level innovation.
- The results showed large differences between innovation rates reported in the short vs long surveys, with over 30% of firms changing their responses. The short survey significantly overestimated innovation rates.
- Explanations for the differences included cognitive challenges understanding innovation concepts, respondent framing biases, and difficulties recalling innovation over the period between surveys. The quality of the interview and time elapsed between surveys impacted response accuracy.
This document outlines the contents of a study on project management conducted by Rana ratnakar for their MBA in Marketing. It contains 6 units that cover key concepts in project management like the project life cycle, identification and formation, appraisal, planning and scheduling, execution and administration, and control. Project management involves temporarily organizing resources to achieve specific goals within time and cost constraints. The project life cycle typically involves pre-investment, implementation, and operational phases with activities like feasibility analysis, design, construction, and evaluation.
CONSTRUCTION PERFORMANCE MANAGEMENT SLIDESHIRE.pptxabateniguse
The document provides an overview of resource management topics for construction performance and optimization, including:
1) Financial management which involves planning, acquiring, and utilizing funds efficiently. It also discusses the goals and functions of financial management.
2) Human resource management which involves recruitment, selection, employment legislation, discipline, development, training, and rewarding systems to manage workers.
3) Physical and information resource management, including construction materials management, construction equipment management, and the use of project information and management systems.
This document discusses setting up a research and development organization. It explains that R&D involves both research to identify problems and development to solve them. It also outlines taxonomy for R&D including blue sky, product centric, and applied research. Additionally, it recommends companies determine their customers, partners, competition and unique skills when establishing an R&D organization.
Impact and Exploitation in Horizon 2020Mathew Lowry
Some slides from META's training workshop at Trinity College, Dublin, November 2016.
Context: http://www.meta-group.com/news/Pages/Research-Projects-Officer,-Trinity-Research-and-Innovation-at-Trinity-College-Dublin.aspx
See also: http://www.meta-group.com/Training/Pages/Training-Services.aspx
This summary provides an overview of the key details from the document in 3 sentences:
The document discusses project management plans for the Girls in Tech Design-a-Thon event, including the scope, work breakdown structure, cost estimates, schedule, network diagram and critical path. It analyzes these project management elements and provides recommendations to improve the management of the event. The event aims to promote women in technology through design challenges over 3 days with support from sponsor AT&T.
7 key analytic elements for the evaluation of DSM policiesLeonardo ENERGY
This Briefing Note describes seven key analytic elements that should be addressed in the evaluation of Demand Site Management (DSM) and Energy Efficiency (EE) policy measures:
1. A policy measure theory, consisting of the domain of the policy, the expected effects of the policy, and an evaluation methodology
2. Specifications of the evaluation indicators, namely the output (= direct output of the program), the outcome (= results on the level of economy, society, and environment), and the impact (net improvements on the level of economy, society, and environment taking rebound effects into account)
3. The indicator baselines, set with consideration
4. An assessment of the outputs and outcomes
5. An assessment of the energy savings and emission reductions
6. A calculation of the cost, cost-efficiency and cost-effectiveness
7. The ambition level: how much effort should be dedicated to the evaluation, and how accurate should it be?
The document discusses various aspects of project appraisal, including market appraisal, technical appraisal, financial appraisal, and economic appraisal. It provides details on steps involved in market and demand analysis, sources of secondary information for feasibility studies, and how to determine a project rating index. Key aspects covered include analyzing aggregate future demand, competition, and pricing options for market appraisal, and evaluating costs, profitability, and risk for financial appraisal.
Do you really understand your customers? Our experience shows that innovation projects are much more likely to succeed by applying this simple interview-based approach.
121220012 incentives in the chinese construction industryAshutosh Patekar
The document summarizes a study on the use of incentives in the Chinese construction industry. It found that while current contracts allocate risks, they lack incentives to promote better performance. Respondents agreed incentives make risk allocation fairer by sharing rewards for good performance. Quality objectives were most important. Incentives are mainly decided by clients during construction and bidding, though some are negotiated. Nearly half of projects spent limited resources on incentives under 0.5% of costs, but incentives were deemed effective in motivating performance.
This document provides a product development plan for a transaction management system called eClaim that targets the insurance sector. Over 5 years, it projects sales to increase from 2 deals in year 1 to 5 deals in year 5. Net profit is projected to rise from $31,000 in year 1 to $132,145 in year 5. The plan outlines the product features, pricing strategies, staffing needs, financial projections, and sales distribution targets across various Middle Eastern countries.
This document provides an overview of economic forecasting. It defines forecasting and economic forecasting, and outlines the 7 key steps in the economic forecasting process: 1) determining the forecast's use, 2) identifying items to forecast, 3) setting time limits, 4) collecting data, 5) selecting a forecasting model, 6) estimating the forecast, and 7) making the forecast. It also discusses forecast types, including qualitative vs. quantitative and short, medium, and long-term, as well as common forecasting methods.
Developing a new product development & launch process Case: Company Xvarun rathod
This document provides an overview of developing a new product development and launch process for Company X. It begins with introducing the Stage-Gate model, which is a structured process used for new product development and launch. It describes the key stages of idea generation, scoping, building a business case, development, testing and validation, and launching the product onto the market. The document then discusses applying this model to Company X by analyzing the company's current process, identifying gaps, and developing recommendations to create a customized process to increase the success of new product launches. In the end, it proposes a new product launch process tailored for Company X to clarify the steps from idea to market launch.
How do we measure of r & d (research and development) in companiesBhavana Rohidekar
This document discusses measuring the performance of research and development (R&D). It outlines several dimensions for analyzing R&D performance, including inputs, throughput, outputs, and outcomes. It then describes specific methods used by Bharat Electronics Limited (BEL), an Indian company, to measure R&D performance. BEL measures the number of in-house projects developed, patents obtained, papers published, value added, knowledge management contributions, and R&D awards. Challenges in measuring R&D performance include selecting appropriate measures and determining norms for comparison.
This document summarizes findings from two EU projects, INNOVATION IMPACT and IMPLORE, that studied the innovation impacts of EU Framework Programme (FP) R&D projects and national R&D programmes. The projects found that a majority of FP participants reported commercializable outputs and programme managers reported high innovation impacts. FP projects were found to focus more on knowledge sharing and exploration rather than direct commercialization. Additionality was higher for smaller firms and riskier projects. The document recommends focusing on thematic areas' needs rather than differences between instruments and not expecting huge impacts from individual projects.
In the past, technology implementation was a lower priority project tacked on after other business projects were complete. Today, businesses can use technology to run a more profitable and competitive business. They can strengthen product development, gather customer insight, increase worker efficiency, and much more. With thorough research and planning, business technology projects can reinforce the vision, mission, values, and goals of an organization. Consider creating a business technology strategy.
This document provides an overview of forecasting techniques. It defines forecasting as estimating future demand and resources needed to meet that demand. The document outlines the steps in the forecasting process, including determining the purpose and time horizon of forecasts, selecting a technique, gathering and analyzing data, preparing forecasts, and monitoring forecasts. It also discusses different types of forecasts like short, intermediate, and long-term and qualitative and quantitative approaches to forecasting. The overall purpose is to help operations managers understand how to develop accurate forecasts to aid in planning and decision making.
The document discusses success factors for new product development processes. It categorizes 57 success factors into organizational, technological, market, and environmental factors. These factors are mapped to six phases of product development cycles: idea generation, product concept testing, product design, prototype development, market testing, and commercialization. Understanding which factors are most important in each phase can help organizations optimize resources and improve new product development.
Rammer - Measuring output of process innovation at the firm levelinnovationoecd
This document discusses measuring the output of process innovation at the firm level using data from German panel surveys. It presents two measures of process innovation output: (1) the share of unit cost reduction from process innovation and (2) the share of sales growth resulting from quality improvements. The document finds that both measures work reasonably well, though responses to the quantitative parts are categorical. Process innovation output is positively associated with firm performance indicators like export share and profit margins. While determinants of undertaking process innovation can be identified, the level of output is more difficult to explain.
Scenario method for defining the strategy in the garment industrydr Gordana Colovic
The document discusses the scenario method, which provides a qualitative description of evolution from present to future rather than numerical predictions. Scenarios are hypothetical sequences of events that determine cause-and-effect links and start from a goal to explore ways to achieve it. Scenarios help fashion companies prepare for unexpected events by having pre-prepared plans to respond faster with less damage. Scenarios are constructed by establishing driving forces, trends, and combinations to obtain alternative future situations over 5-10 years to inform strategic options. They provide a wider vision of alternative events to support or avoid.
Muzi - measuring firm level innovation using short questionnairesinnovationoecd
- A study conducted innovation surveys in 15 developing countries using both a short 9-question survey and a longer, more in-depth survey to test if the short survey accurately captured firm-level innovation.
- The results showed large differences between innovation rates reported in the short vs long surveys, with over 30% of firms changing their responses. The short survey significantly overestimated innovation rates.
- Explanations for the differences included cognitive challenges understanding innovation concepts, respondent framing biases, and difficulties recalling innovation over the period between surveys. The quality of the interview and time elapsed between surveys impacted response accuracy.
This document outlines the contents of a study on project management conducted by Rana ratnakar for their MBA in Marketing. It contains 6 units that cover key concepts in project management like the project life cycle, identification and formation, appraisal, planning and scheduling, execution and administration, and control. Project management involves temporarily organizing resources to achieve specific goals within time and cost constraints. The project life cycle typically involves pre-investment, implementation, and operational phases with activities like feasibility analysis, design, construction, and evaluation.
CONSTRUCTION PERFORMANCE MANAGEMENT SLIDESHIRE.pptxabateniguse
The document provides an overview of resource management topics for construction performance and optimization, including:
1) Financial management which involves planning, acquiring, and utilizing funds efficiently. It also discusses the goals and functions of financial management.
2) Human resource management which involves recruitment, selection, employment legislation, discipline, development, training, and rewarding systems to manage workers.
3) Physical and information resource management, including construction materials management, construction equipment management, and the use of project information and management systems.
This document discusses setting up a research and development organization. It explains that R&D involves both research to identify problems and development to solve them. It also outlines taxonomy for R&D including blue sky, product centric, and applied research. Additionally, it recommends companies determine their customers, partners, competition and unique skills when establishing an R&D organization.
Impact and Exploitation in Horizon 2020Mathew Lowry
Some slides from META's training workshop at Trinity College, Dublin, November 2016.
Context: http://www.meta-group.com/news/Pages/Research-Projects-Officer,-Trinity-Research-and-Innovation-at-Trinity-College-Dublin.aspx
See also: http://www.meta-group.com/Training/Pages/Training-Services.aspx
This summary provides an overview of the key details from the document in 3 sentences:
The document discusses project management plans for the Girls in Tech Design-a-Thon event, including the scope, work breakdown structure, cost estimates, schedule, network diagram and critical path. It analyzes these project management elements and provides recommendations to improve the management of the event. The event aims to promote women in technology through design challenges over 3 days with support from sponsor AT&T.
7 key analytic elements for the evaluation of DSM policiesLeonardo ENERGY
This Briefing Note describes seven key analytic elements that should be addressed in the evaluation of Demand Site Management (DSM) and Energy Efficiency (EE) policy measures:
1. A policy measure theory, consisting of the domain of the policy, the expected effects of the policy, and an evaluation methodology
2. Specifications of the evaluation indicators, namely the output (= direct output of the program), the outcome (= results on the level of economy, society, and environment), and the impact (net improvements on the level of economy, society, and environment taking rebound effects into account)
3. The indicator baselines, set with consideration
4. An assessment of the outputs and outcomes
5. An assessment of the energy savings and emission reductions
6. A calculation of the cost, cost-efficiency and cost-effectiveness
7. The ambition level: how much effort should be dedicated to the evaluation, and how accurate should it be?
The document discusses various aspects of project appraisal, including market appraisal, technical appraisal, financial appraisal, and economic appraisal. It provides details on steps involved in market and demand analysis, sources of secondary information for feasibility studies, and how to determine a project rating index. Key aspects covered include analyzing aggregate future demand, competition, and pricing options for market appraisal, and evaluating costs, profitability, and risk for financial appraisal.
The document discusses various aspects of project appraisal, including market appraisal, technical appraisal, financial appraisal, and economic appraisal. It covers topics such as the information required for market analysis, demand forecasting, assessing materials and equipment needs, cost projections, and measuring the costs and benefits of a project. Market appraisal considers factors like future demand, market share, competition, location, and technological changes.
The document provides a starting report for the Iktimed project which aims to improve open innovation between research institutions, businesses, and public policymakers in regions of southern Europe and the Mediterranean area by establishing collaboration systems and knowledge communities. It outlines the background and goals of the project, describes the main problems it seeks to address, and provides details on the project structure, management, components, and operational plan.
1. The document discusses the process of generating and screening project ideas, which begins with analyzing the economy and conducting surveys to identify potential ideas. SWOT analysis, clear objectives, and fostering innovation can help stimulate new ideas.
2. Potential ideas are then screened through preliminary evaluation based on factors like compatibility with promoters, government priorities, market availability, costs, and risk levels. Projects can be rated using a rating index to evaluate multiple factors.
3. Successful projects tend to have advantages like economies of scale, product differentiation, cost advantages, marketing reach, technology edge, or supportive government policies. Qualities of successful entrepreneurs are also discussed.
The document provides guidance on preparing project feasibility studies. It discusses the key components of a feasibility study, including the project summary, market study, technical study, financial study, socio-economic study, organization and management study, and environmental impact assessment study. The project summary section should include the name and location of the project, a descriptive definition, major assumptions and findings on market feasibility, technical feasibility, financial feasibility, socio-economic feasibility, and management feasibility. It also states the current status and timetable of the project. Conducting comprehensive and systematic analysis of all factors through separate studies is important to establish a project's viability and enhance its chances of success.
Making eu innovation policies fit for the web defosimod
This document discusses making EU innovation policies better suited for web-based innovation. It argues that current policies, like the Framework Programme, were designed for 20th century capital-intensive R&D and do not attract innovative SMEs or translate research to marketable products. "Light and fast" funding that is open, bottom-up, and rewards achievement rather than paperwork could help. The document examines cases like inducement prizes in the US and Europe that use these principles successfully. It concludes that options like open funding, prizes, and procurement of innovation should be adopted to address gaps and make EU policy fit for web-based innovation challenges.
Customerlogo hereProject Name Project CharterCompanyOllieShoresna
Customer
logo here
Project Name: Project Charter
Company
logo here
Project Name:
Value Driven Project and Portfolio Management in the Pharmaceutical Industry
Project Charter
Project:
Value Driven Project and Portfolio Management in the Pharmaceutical Industry
Title:
Project Charter
Document number:
Version
0.1
Document status:
Final
Author:
Chellyn Jones
Responsible:
Date created:
14/08/2021
Protection class:
"For internal use only"
Document history
Version
Date
Author
Comment/Change
0.1
10/08/2021
Draft
14/08/2021
Final
Page
1Background/Project purpose or justification4
2Goals5
2.1Goals
2.2Scheduling goals/milestones
3Project product description6
4Delivery units7
4.1Delivery units/services
5Project success criteria8
6High-level risks9
7Key stakeholders10
8Assumptions, restrictions and external dependencies11
9Responsibility of the customer12
9.1Tasks
9.2Resources and staffing
10Project category13
11Project budget (overview)14
12Project startup15
13Project end16
13.1Signatures for release
Annex17
A.Glossary and abbreviations17
B.References, accompanying documents
1.
Background/Project Purpose or Justification
Pharmaceuticals' perspective has shifted as a result of the rising healthcare expenses that are currently affecting everyone, and pharmaceuticals are focusing on the generation of value in research and development. Value-driven portfolio management is a term that has long been associated with the financial sector but has recently gained popularity in the pharmaceutical industry. The notion of value-driven portfolio management focuses on connecting a company's strategic goals and objectives with resource allocation. A corporation can raise the value of pharmaceuticals while also lowering healthcare expenses by focusing on studying the risks and effects.
The project's purpose is to create a value-driven project for the pharmaceutical company by following a set of decision-making stages. The steps will include developing a targeted product profile, defining a timeframe, developing a budget that is consistent with the goal product profile, and ultimately developing a stage gate decision-making system.
2. Goals
This section addresses the goals of the project which indicate what the project intends to achieve and the milestones related to the goals established.
a. Goals
Goal
Description
Efficiency
Efficiency in the drug development process will mean that pharmaceuticals develop drugs through maximum utilization of the resources and ensuring that the waste products from the process are as minimal as possible.
Strategic alignment
The goal is to come up with projects that are aligned with financial and strategic goals of pharmaceuticals.
b. Scheduling Goals/Milestones
Schedule
Description
Phase 1
· Defining the scope and the budgets for the projects
· Developing the goals of the project.
· Evaluation of the potential risks
Phase 2
· Coming up with the key performance indicators
· Tracking per ...
This document provides a marketing communication strategy for the Southwark Pilot of the OPTIMUM2 project. It recommends adopting a six-step process based on social marketing theory: 1) set objectives, 2) specify target groups, 3) design techniques, 4) set a schedule, 5) specify a budget, and 6) monitor and evaluate. The strategy identifies key target groups and recommends techniques like presentations and conferences to promote results to professionals, policymakers, and funders. It provides an estimated budget of €36,000 and evaluation methods to assess the strategy's effectiveness.
This document provides an overview of three emerging business innovation trends: Design for Innovation, Smart Living, and Innovative Business Models. It describes each trend and provides examples of companies demonstrating success in each trend through four case studies per trend. The document also discusses the drivers and obstacles these companies face, relevant policy challenges around supporting these trends, and recommendations for policymakers based on discussions with stakeholders. The overall goal is to better understand new innovation practices and how policy can help scale successful approaches.
This document provides an impact assessment framework for evaluating small and medium enterprise (SME) finance policies. It discusses why impact evaluations are important for assessing SME policies and programs. The framework covers both experimental and non-experimental evaluation methods that can be used, including randomized control trials, difference-in-differences, instrumental variables, regression discontinuity, and propensity score matching. It provides examples of evaluations using these various methods and discusses operational considerations like budget, timing, and choosing the appropriate method. The goal is to help policymakers assess and improve SME interventions to maximize their effectiveness.
This document summarizes a case study on Germany's standardization strategy. It identifies 5 key goals of Germany's strategy: 1) securing its position as a leading industrial nation, 2) using standardization as a strategic instrument to support economic and societal success, 3) using standardization for deregulation purposes, 4) promoting technological convergence, and 5) providing efficient standards bodies procedures and tools. It then analyzes which goals would be most appropriate for Indonesia given its status as a developing country, prioritizing standardization as a strategic instrument, efficient procedures and tools, and as an instrument for deregulation. Reasons for selecting these goals and their priority order are provided.
Fealing - Improving indicators to inform policyinnovationoecd
The document discusses improving indicators to inform policy. It recommends establishing a framework for developing indicators, improving data quality, linking and sharing data between agencies, conducting methodological research, using existing data and establishing a chief analyst position. The main conclusion is that indicators cannot be developed without a framework to contextualize them.
An Assessment of Project Portfolio Management Techniques on Product and Servi...iosrjce
The crises of product and service innovation in most organisations due to global competition and
the need for scientific research in the project portfolio management discipline were factors that motivated this
research. The purpose of this study is to investigate how project portfolio management(ppm) contributes to
product and service innovation. A questionnaire was developed to gather data to compare the PPM methods
used, PPM performance and resulting new product success measures in sixty Nigeria organisations in a diverse
range of service and manufacturing industries. The study findings indicated that PPM practices have a greater
impact in the new product and services success rate. Also, business strategy method result in better alignment
of the projects in the portfolio. This conclusion is supported by the 0.630 Pearson correlations at 0.000
significance between percentage of successful products and PPM performance level. The results reveal that for
better innovation outcomes, management should place a priority on developing and improving PPM.
PROJECT MANAGEMENT 1 STADIO SECOND YEAR.pdfAlison Tutors
This document comprises of notes from Chapter 1 and Chapter 4 from STADIO
Chapter 1 assesses the following :
- differentiating between different types of feasibility and detailing the process of conducting a feasibility study
-applying the best practice to create the components of the proposal
- applying the knowledge of project initiation process to both fictional and real-life cases and scenarios
Chapter 4 focuses on project stakeholders and scope.
The topic covers the following:
- explaining the role and importance of project stakeholders
- identifying project stakeholders in a project and the key characteristic of each
-create a project charter
- defining a project's scope and highlight its purpose
This document discusses feasibility studies and their importance in project evaluation and business success. It provides definitions and descriptions of various types of feasibility studies, including their objectives and key components. Specifically, it outlines the five common factors assessed in feasibility studies: technical, economic, legal, operational, and schedule feasibility. It also discusses other important factors like market and real estate feasibility, resource feasibility, and cultural feasibility. Overall, the document emphasizes that feasibility studies are critical for determining if a proposed project or business idea is viable and should be pursued.
ANALYSIS OF RISK CATEGORIES AND FACTORS FOR PPP PROJECTS USING ANALYTIC HIERA...A Makwana
Success of Public Private Partnership projects is greatly influenced by proper management of the risks associated with the project. All projects which are undertaken using conventional procurement method or using a PPP approach have known risks and unknown risks. Risk identification plays an important role in development of PPP framework. The participation and investment of Private sector has been the main stay of the Government of India policy toward infrastructural growth. In this study main risk categories and factors of Public Private Partnership projects have been recognized. A total of 7 risk categories and 31 risk sub-factors for each category were identified for PPP projects safety listed under subheads. The questionnaire was prepared on the basis of literature review and was filled by 100 Stakeholders namely Consultant/Client, Project Manager/ Contractor, Engineer. Generally Analytic Hierarchy Process (AHP) is widely used as multi criteria decision making. Normally it is very hard to meet the consistence need of a comparison matrix in analytic hierarchy process. In this study AHP is used to categories the risks of PPP projects in different levels and the impact of those risks on the PPP projects are identified.
This document discusses opportunity studies conducted at the subsector level to identify potential investment projects. It outlines the objectives, scope, data sources, organization, and outputs of opportunity studies. Key points include: Opportunity studies provide relevant information and data on subsectors to enable investors to identify the best opportunities and lower costs of feasibility studies. They draw data from public and private sources and are often conducted by public development institutions. The studies result in an executive summary that concisely describes typical projects in a subsector, business conditions, and recommendations. The summary highlights feasibility for decision makers.
This document summarizes the key findings of a survey conducted by KPMG on monitoring and evaluation practices in the development sector. Some of the main findings include:
1) There is no clear consensus on terminology or approaches to monitoring and evaluation among organizations. This can create issues with lack of clarity.
2) While sophisticated evaluation models and techniques exist, the most commonly used techniques are quite basic, such as logical frameworks and performance indicators.
3) There is a need for stronger feedback loops to better synthesize lessons learned and ensure they are acted upon in a timely manner. Many evaluations are produced but not acted upon.
4) The adoption of new technologies for data collection and analysis is lagging,
Horizon 2020 rules outline funding rates and eligibility criteria for different types of actions in 2017. The evaluation process is designed to be fair, impartial and efficient, taking around 5 months. Proposals are evaluated based on excellence, impact, and quality of implementation against weighted criteria. Successful proposals clearly address the call topics, have measurable objectives, and convincingly demonstrate how impacts will be achieved and work implemented.
3. 3
1.0 Executive Summary
The document that follows this summary is a bid which aims to secure an SME’s place in a
study which purposes to identify the factors which would impact on the growth of the blue
economy – a terminology which describes the sustainability of growth in the marine and
maritime industrial sector. The deliverables this bid aims to present would iterate to the client
specifications on how the use of innovation and creativity would impact on the sustainability
of blue growth industrial sector, citing pilot tested techniques, research methodologies as well
as the impact of the geopolitical issues on the growth of the industry. The bid would also
expatiate on the size of the industry as well as the growth rate of the industry utilising standard
tools such as stakeholder mapping, market analysis, observation of historical trends as well as
utilizing vetted forecasting techniques. The bid also seeks to identify what the advantages and
disadvantages of using the proposed techniques would be as well as relate these merits/demerits
to the blue growth industry sustainability; this would be done using PESTLE analysis as well
as cost-benefit analysis. A SWOTanalysis as well as an environmentally extended input-output
analysis on what needs to be done to employ a positive growth of the blue industry would be
carried out as well.
This bid would clearly identify the most suitable and practical means which would maximise
the productivity for the sector, the problems that could affect the viability of the project would
be clearly identified thus furnishing the client with a practical and methodical means which
iterate ways by which the project aims would be satisfied. The project lifecycle is iterated using
a Gantt chart which details the steps as well as the activities utilized in the project methodology.
4. 4
1.1 Scope of Feasibility Study
The prospects of economic viability being derived from oceans, seas and shorelines in Europe
impacts upon job creation as well as potential investments in research purposes in the maritime
industry in the region. Aquaculture, marine biotechnology and the development of allied
applications can be impacted upon by the involvement of SMEs in the blue growth strategic
development. It is however noted that the non-availability of finance for SME’s impact on the
development of blue growth as finance is suggested as a key barrier which directly impacts the
ability to utilize innovations in the economic events in the maritime industry.
The basis of this study is important in providing a clearer understanding of the aims and
objectives of the project. It is suggested that the enhancement of profitability as well as the
growth of SME’s in the blue economy would be facilitated by the utilization of new and
existing knowledge for innovation and competition purposes which will in turn enhance the
development of the blue economy. The study bases the proffering of solutions on supply chain
mechanisms which enhances innovation distribution to improve the sustainability of blue
growth, an analysis of the upsurge of private ventures into technological improvements in the
industry as well as forecasts of anticipated influences on the industry. This presumably would
help in providing a clear description both in quantitative and qualitative terms blue growth
crucial points including market size, profit, investment return percentage, turnover,
employment growth and sales.
This will in turn translate to a clearer identification of client aims and objectives that would
affect the growth of the blue economy by the following means;
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• Identifying verification processes which iterate ideas which are practical to the
technology/ innovations available thus optimizing the profit margin that would be
derived from the sector.
• Reinforcing the standardization of risk assessment procedures, market surveys as well
as the management of intellectual property.
• Identification of the bottlenecks which affect the viability of the suggested techniques
• Production of a project which is potentially revolutionary and also in vision with SME’s
objective and also within legal and political framework of Europe as a geographical
location of the SME.
Objective 1 – This iterates the verification process for which the best innovations that would
optimize the profitability of the sector would be identified. The investigation for this objective
would be made possible by utilizing:
Market analysis
Stakeholder analysis
Objective 2 – This would identify how market surveys, risk assessment as well as intellectual
property management would be strengthened. The investigation therein would be carried out
by:
Incorporation of all risk assessment elements using economic cost benefit analysis.
Utilization of relevant processes that reduce measurement errors and optimize survey
processes.
Utilization of Lean process management for the optimization of intellectual
management process.
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Objective 3 – This involves the identification of problems which would impact on whether or
not a technique would be useful for the optimization of the growth of the blue economy. This
would be done by:
Distinguishing between long term and short term bottlenecks
Utilization of flow chart techniques for identification of where the bottlenecks occur
and self-inquest into the “whys” of the bottleneck.
Production of a project which is potentially revolutionary and also in vision with SME’s
objective and also within legal and political framework of Europe as a geographical
location of the SME.
Objective 4 – This involves ensuring that the project aim which is to produce a piece of research
which optimizes the growth of the blue economy is enshrined within the legal framework in
the EU. This would be done by:
PESTLE Analysis
Environmentally Extended Input-Output Analysis
SWOT Analysis
The adopted methodology would ensure that best practices are utilized to ensure that the finest
available value is made available to the client within the iterated project time frame. The study
would encompass utilizing previous researches from both academic and industrial based
material. Primary data would also be collated by utilizing focus groups as well as consultations
with key parties and utilization of survey for data collection from stakeholders at different
levels.
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2.0 Project References
This section of the bid would clearly iterate as well as evaluate the various models from
industry studies as well as academic theories that would be applicable to this research. The
section would also place emphasis on the fundamental purposes of the study, and link theories
relevant to the study for the sole purpose of making sure the objectives are attained. Valid
practices would be utilized within this research task for analysis, measurement and
appropriateness in informing clients on the research development phases. This is in agreement
with Saunders et al (2012) which suggests the need for the identification of mapping as well as
the key stakeholders as a the initiation process during a research project.
2.1 Objective 1
2.1.1 Stakeholder Analysis
Reiterating Saunders et al (2012), identification of key stakeholders as well as charting their
relevance to the project is the initiation stage that all research projects must go through.
Oyegoke (2011) further expands on the importance of stakeholder identification as the interests
of this key group would be impacted either negatively or positively by decisions taken in
regards to the project process. In agreement, Winter et al (2006) suggests that divergence of
interests between stakeholders as a result of not clearly understanding each stakeholders need
could be developed and thus resulting in a failure of the attainment of all stakeholders’
expectation.
The stakeholders in the blue economy within Europe includes governments, maritime agencies,
investors, technology manufacturers, representatives from the public sector, environmental
agencies, regulatory authorities and human resources (Europa, 2014). It can be thus suggested
that there is no clarity on which stakeholder is the most important or relevant
8. 8
in the development of the blue economy thus requiring the important phase of stakeholder
mapping as the first activity to be carried out to ensure project success.
Iterating the importance of stakeholder mapping, previous exemplary projects have revealed
the need for not just the identification of key stakeholders but those relevant to the study. For
instance Rodriguez (2005) identifies the stakeholders in the EU blue economy as including
heads of shipping industries, seaports, maritime equipment manufacturers, the Navy, ship
building and off shore supply organizations, recreational boating companies, inland navigation,
maritime engineering works firms and consumers. Exploring the need to identify the
stakeholders, it is suggested that knowledge of the stakeholders would help in the identification
of added value to the economy by aiding the full understanding that the blue growth is
dependent on innovation, sustainability, economic growth and employment growth.
2.1.2 Market Analysis
It is necessary to explore the market size and forecasts for growth trends of the EU region as
the aims and objectives of this analysis is focusing on the size and growth of the blue economy
in this region. Harrison and Reilly (2011) suggest that two approaches usually utilized in
market analysis are the top-down approach and bottom-up approach.
West and Prendergast (2009) expatiating on the top-down approach otherwise known as the
chain-ratio method identifies that this method if adopted lays emphasis on the universal market
and approximates a net market after considerations have been made during the analysis on
demographics as well as disposable income of consumers, etc. The top-down approach
methodology utilizes governmental and industry data; this means that the compilation of the
9. 9
analysis would be done by utilizing desk based research based on data already available
(Harrison and Reilly, 2011).
While the International Finance Corporation (IFC, 2014) identifies that the exploration of the
bottom-up methodology in the analysis of markets where individual bands can be forecasted,
the long time phase utilized in the market investigation process using this method is no doubt
a demerit. Hooley et al (2008) however suggests the use of the bottom-up approach as a result
of its accuracy especially in dispersed geographical regions. Considering the European
Commission’s Maritime Affairs (2014) report which identifies five probable blue economy
growth areas, the utilization of the combination between the bottom-up and top-down analysis
process would be recommended to this study because the aims and objectives are applicable to
the growth of the blue economy in these areas. IFC (2014) also suggests the use of surveys and
interviews for the determination of figures for the total market size of the researched industry.
Primary research would be conducted as this is iterated by the utilization of data from
governmental sources and organizational sources; utilization of primary research in
combination with desk based research as done when using the top-down approach allows for
strengthening and reinforcement of the analysis report for production of accuracy in the
measurement of market size (Harrison and Reilly, 2011). In agreement with Hooley et al
(2008), the two methods of analysis when engaged would help in the production of a high
quality measurement of market size data.
Labonte (2010) however in contrast reiterates the difficulty that comes with the estimation of
market size as a result of the errors based on overestimation of statistics from surveys and
ommission of some segments of the market thus leading to the inaccuracy of the analysis.
10. 10
Varga et al (2013) also suggests that the resultant complexity of the blue economy is also
responsible for the inaaccurate assessment of the market size and this questions the
applicability of this analysis method.
The utlization of these approaches for the purpose of this feasibility study is in agreement with
similar approaches used in other projects of the same nature and other industrial sector’s
standard practises on market research.
Exemplifying this, the Malta Aquaculture Research Centre (2014) produced a report which
iterated the blue economy growth in Malta where a combined use of the bottom up and top-
down method was used in the assessment of the market size. This report showed that utilization
of these approaches for market size assessment was useful as a result of the ability of the
method to aid the determination of market share held by stakeholder organizations in the
industry as well as the trade quantities of products done in the region. Further emphasizing on
the improper identification of market size, Labonte (2010) stresses the difficulty in being able
to make an accurate analysis on the development of the economy of the industry of the
researched geographical region.
3.0 Objective 2
3.1 Risk Assessment
The prominence of risks to industries and sectors of economies has increased and thus realized
in managerial stakeholders engaging in the assessment of risks (Mooreland, 2014). While risks
usually iterate the negative and undesirable chances of mishaps, the positive association of risk
includes the opportunities available to organizations. For the blue economy growth, it is with
no doubt that the social establishment enshrined within the sector are constantly occupied with
11. 11
risks and non-awareness as well as lack of proper understanding of these risks results in the
avoidable consequences to the industry (Mooreland, 2014).
The risk analysis for this feasibility study would involve performing an economic benefit
analysis due to the reasons that this research would be expatiating on means of improving the
economic growth of the blue economy as well as ensuring the sustainability of this industry.
In agreement, Dixon (2013) iterates that the identification of the economic benefits of projects
would play an important role in risk analysis and expatiating on the probable forecasts that can
result as a consequence of the effects of the study. In determining the risks associated with the
economic growth and investments for organizations, cost benefit analysis or economic cost
benefit analysis could be utilized; while economic cost benefit analysis focuses on the fiscal
benefits to the economy, cost benefit analysis utilizes social factors and is a much wider method
for analysis of economic benefit (Mooreland, 2014). As a result of the wider merits of the
economic cost benefit analysis, it would be utilized to produce optimum results for the client.
While it is argued that economic cost benefit analysis (ECBA) requires the utilization of
calculations such as net present value in the determination of the feasibility of the five blue
growth economy areas, in this study it would be useful in the monetary benefit and financial
data in the five identified blue growth areas (Linn, 2011). It is however argued that risk analysis
using the net present value alone for the economic cost benefit investigation would not provide
optimum data from the survey and a sensitivity analysis for the process is also recommended.
Linn (2010) describes the sensitivity analysis as a tool which allows for better understanding
of risks involves as a result of the modifications in variables and external environments. Using
this would be valuable to the feasibility study as it impacts positively on the market analyst’s
potential to identify the risks that could negatively impact on the project.
Supporting the notion to use the ECBA in this feasibility analysis, Varga et al (2013) iterates
the similar use of this analysis method in the EU where the geographic macro and regional
12. 12
framework took into cognizance the national and regional roles different economic
interventions played in the development of blue growth in the region. This study showed that
the economic cost benefit analysis played a beneficial role in helping the determination of the
monetary benefits of undergoing the project. Pauli (2010) however iterates the utilization of
real governmental data as well as financial data from organizations that are stakeholders to the
blue economy for the ECBA to be effective and also improve the accuracy of the information
available for analysis. This tool would utilize desk based research methodology made possible
from current financial information to ensure the accuracy of the analysis.
Iterating the errors and limits that the utilization of ECBA could pose to the analysis, Portney
(2008) suggests that the ECBA as a tool does not allow for assessment of indirect benefits and
expenditure in blue economy industries in the local economy and factors such as employment
growth rate cannot be accurately measured using this tool. Identifying the importance of
employment to blue economy growth, Fujiwara (2010) suggests the importance of the
measurement of employment growth rates, the impacts of these growth rates on the profitability
of the organization and inadvertently the importance of knowledge of this to economic growth
analysis. As identified that the ECBA does not allow for proper and accurate analysis of the
employment growth rates, this study seeks to create a resolution for this by seeking to address
the impact on the wider economic development of the sector.
As exemplified by the case study iterated, this research would also utilize related structure by
utilization of information from government sources and organizations that are within the
identified five blue growth areas in the EU for the calculation of the net present value. Doing
this would allow a sensitivity analysis to be carried out; this would in turn enable the financial
risks that could possible crop up during the implementation of this research process to be
identified and help in the strengthening of the project.
3.2 Utilization of Lean Six Sigma
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For this study, the use of the lean six sigma would play an important role as it would help
organizations that operate in the blue economy sector attain profitability as a result of the tool’s
ability to aid organization attain optimization of operational speed, aid reduction in cost as well
as make possible the attainment of top quality products and services available to the industry
(Nicoletti, 2013). Further agreeing with the importance of the use of lean six sigma in the
optimization of economic productivity is Rana and Tse (2011) which suggests the use of lean
six sigma in industrial sectors where the manufacturing is done as it is a key ingredient to the
development of organizations found in such sectors due to its ability to aid the transformation
of industrial operations through the elimination of wasting.
Illustrating the use of this tool in past research, it is noted that the APM terminals, Bahrain,
which is key to the economic growth of the country had to implement the utilization of the six
sigma tools and as a result of its investment of research in this tool and by extension
implementation in organizations and government agencies that operate within that blue
economy. This improved the productivity and growth of its terminal facilities as well as inland
services and helped expand the terminal’s global network of employees to 68 countries thus
resulting in the boom of its blue economy (APM Terminals Bahrain, 2014).
Objective 3
4.0 Identification of Bottlenecks for Blue Growth
The identification of areas which would reduce the optimization of profit and thus growth of
the blue economy would no doubt aid the sustainability and identification of growth potentials
in the maritime sector. Emphasizing this is the feasibility study embarked upon by UNESCO
(2000) in El hierro, named the “Gorona del Viento El Hierro” which identified the potential
risks to the economic benefits of the project which was aimed at de-salinity of the water in the
14. 14
region for agricultural production optimization as well as power production to improve the
economy of the region. Embarking on a feasibility of this study twelve years down the line no
doubt affected the economic development of El heirro, allowing for systemic solutions to the
agricultural and power industries of the economy of the iterated community (UNESCO, 2012).
As this report is focused on the growth of the EU blue economy as a role, the identification of
bottlenecks would be done in the following phases:
- Identifying the maritime clusters and the problems of synergies between these clusters
- Identification of all regulatory bottlenecks which are enshrined within each EU
country’s legal frameworks
- Ascertain the degree of maritime spatial planning issues which inadvertently affects the
integration in maritime legal framework, sea bed mapping (which affects the degree to
which maritime resources would be explored by member nations).
- Ascertaining to what degree environmental factors affect the sustainability of blue
growth.
This is in agreement with previous desk research embarked upon by the European Council on
Maritime Research (2014) which iterates similar procedure for bottleneck identification for
blue economy development in historical feasibility studies embarked upon by the council.
In identifying the bottlenecks and its impact on the economic growth, this study would illustra te
in thematic phases, areas of identification to make for easier clarification and allow for
provisional actions to be taken accordingly. These themes can be classified into coastal
development and preservation, new resource technology and creative maritime activities. This
is in agreement with Jones (2014) which iterates the need for the utilization of thematic
structures to allow for accountability in projects. The use of this structure in previous reports
15. 15
by Hwang (2010) on the blue economy of Korea and aquaculture also resulted in the optimal
results in the identification of bottlenecks for that case study.
To clearly identify to the SME’s the development plan and choices to make as well as to iterate
innovative solutions which would help in the development of their blue growth plan, flow
charts would be used to clearly identify the best fit innovative steps to follow. Illustrations in
pictorial form would also be available to the SME’s analyzing the statistical information to
guide strategic decision making. This is in agreement with Longmire (2014) which suggests
the use of flowcharts in benchmarking and analysis process during projects.
Objective 4
5.0 PESTLE Analysis
As a result of the geographical boundary associated with the nature of this feasibility study in
respect to the blue economy growth and sustainability therein, the PESTLE analysis is being
utilized. PESTLE which denotes Political, Economic, Social, Technological, Legal and
Environmental analysis is a preferred method of analysis to the PEST analysis which would
not put into consideration the Legal and Environmental aspects of the study. The legal and
environmental analysis of the study is important as a result of the diversity of the nature of
policies in the different EU states despite similar governmental and organizational structures.
The Project Management Institute (2009) suggests that in the utilization of PESTLE analysis,
organizations would be able to make strategic decisions that would optimize the effectiveness
of the firm’s profit as well as aid the awareness of threats to the firms’ existence. In relation to
this study, utilization of the PESTLE analysis would aid the SME’s within the blue economy
in the sustainability of their profit margin as well as aid SME’s forecast of future snags thus
aiding the ability of the firm to reduce or avoid the effects of these snags.
16. 16
Further emphasizing on the use of PESTLE analysis, Bell and Anderson (2002) emphasizes
that the government policies that are enshrined within the EU countries, although similar, are
characterised with peculiar policies for each demographic and regional area. Some political
dynamics that affect the sustainability of the blue growth economy for SME’s include taxation
rules, trade bodies, economic stability, legislation, consumer protection laws, tariff regulations
etc.
5.1 Environmentally Extended Input – Output Analysis
The Environmentally-Extended Input-Output (EEIO) analysis has been identified as a useful
and vigorous tool useful for the evaluation of relationships that exist between economic
undertakings and environmental impacts (Kitzes, 2013). As this research is EU-focused in
regards to economic growth and development, this tool would prove useful in the evaluation
of the upstream and consumption-based drivers of the blue growth economy; vis-à-vis the trade
that occurs within the blue economy of the EU.
While the EEIO analysis is a fairly new tool developed on the traditional input-analysis model
which is a basically “a multi-country set of supply and use tables and symmetric in-put output
tables”, the EEIO analysis would be useful to this research as it utilizes data based on the
sustainability of production as well as consumption in each indicated geographical study area
(Weidmann et al, 2013). As this feasibility is concerned with SME’s and the sustainability of
blue economy growth in the EU region, this tool would prove useful as it further iterates
econometric forecasts on consumption patterns as well as trade switch patterns which would
17. 17
be useful to organizations’ trade and strategic decisions to be taken and by extension the blue
economy.
Illustrating an instance of the use of the EEIO in previous industrial feasibility studies and its
economic impact on the project aims concerned, the EEIO was used in a Swiss Analysis which
analysed the economic impact of consumption and production on Switzerland’s economic
development. With the use of the EEIO analysis tool, the study was able to iterate in detail the
environmental intensity of exports per value currency of the region concerned as well as iterate
clearly the domestic environmental impact of organizational consumption and production on
the national economy (Weidmann et al, 2013).
5.2 SWOT Analysis
The use of SWOT as a tool in management and in the optimization of project returns is no
doubt important. This is because the SWOT is useful in the identification of strengths,
weaknesses, opportunities and threats to organizational existence and profit maximization
(Choudrie, 2005). While the strengths and weaknesses as denoted in the SWOT analysis iterate
internal dynamics which craft or destroy value, the opportunities and threats are factors, usually
external which the firm has no control over. Further expatiating on the notations, Coffield et al
(2004) explains strengths as the features which make the firm preferable to its competitors in
the market, the weaknesses as the incompetent areas of the firm which makes it undesirable to
its consumers and thus affects the organizations profitability. Opportunities iterate
circumstances that give the organization a competitive edge on a project or in its profitability
quest while threats are external environmental factors that could affect the firm negatively in
terms of profitability and existence.
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Exemplifying the use of SWOT analysis, a case study by North West Europe (2013) was used
to clearly illustrate the smart, sustainable and inclusive growth objectives for the European
2020 strategy on cooperation between European territories.
5.3 Gantt chart Methodology
The utilization of Gantt charts as a project management tool is arguable very common as a
result of the effective nature of the Gantt chart in iterating project activities and process
development within a specific time frame (Geraldi and Lechter, 2012).
For the purpose of this study, the Gantt chart would be utilised in the validation of activity time
frame, the interrelationship between activities as well as the connection of project activities
over the twenty four week period. It would also emphasize on key actions associated with the
project task and its aggregation with the time phase allocated to each activity.
As illustrated in appendix 9.3, the different activity phases for the research are segmented with
each section corroborating to the client’s objectives. This was done to demonstrate the ability
to utilize analytical means to meet the requirement of the each objective; this led to the further
division of segments into subsections with analytical tools being utilized in the completion of
iterated activities for the analysis goals to be met. The utilization of this method would enable
for easy tracking of the project progression by the client, analysts and key stakeholders of the
project.
Further expatiating on the Gantt chart structure, it is noted that the main actions taken during
the project process are iterated using a critical path; these main activities are covert towards
meetings with client and phase-by-phase activities leading to the project completion. These key
actions/activities iterated can be described as benchmarks or signposts in regards to the project
phases. Further illustrating this structure, it is noted that following the initial meeting with the
19. 19
client tagged the “primary meeting”, the first objective can be completed after which a second
meeting will be held with the client to discuss feedbacks on the first phase and discuss the
second objective process with the client. The utilization of these steps will ensure that the
satisfaction and needs of the clients are met and also to allow for consistency in communication
between the project analyst and the client team.
For the aim of each objective to be attained, the activities iterated in relation to the objectives
need to be completed; this study has several dependent activities and this structure results in
less fluidity with the structure of the project thus allowing for easy management of the project
activities due to the rigid nature of its structure. The rigidity in the structure of the project also
helps ensure that all deadlines to meet the project time frame are met with each benchmark
period for each project activity allowing for a meeting and feedback to allow for the objectives
and activities associated with meeting the key aims of the project lifeline to be achieved. The
time frame as illustrated for each activity helps in ensuring the efficiency as iterated for each
scheduled activity. The time frame also allows for the allocation of time to each analytical tool
and this helps in the reinforcement of the rigidity of the project structure. A closer view of the
activities for each tool suggests the need for a thorough research to be embarked upon
throughout the course of the project lifeline. This is evident at the initiation stage of the project
where primary or secondary research would be utilized in the accurate measurement of the
compilation of the model. The Gantt chart also shows an allowance of enough time by the
analyst for the completion of primary data and desk research as the process for doing this could
take quite some time. After the collation of the data required for the project has been done and
the measurement has been validated as accurate within a testing framework, the data would
then undergo further analysis.
It is however noted that for the third objective, more time is allocated to the compilation of the
models due to details required for the Environmentally Extended Input Output analysis and the
20. 20
investigational requirements of these models. The required time for each objective was put into
consideration in the design of the Gantt chart and as such the first and second objectives iterated
in the chart was so positioned; also the complexity of the nature of the tools in objectives two
and three led to their positioning for the latter parts.
The Gantt chart also made use of slack time; this term iterates the idea that some project tasks
can be undertaken at the same times as others and not affect the schedule iterated on the critical
path activity of the chart. The slack time would be utilized in this project to prevent unforeseen
circumstances affecting the time schedule of completion as well as provide analysts flexibility
to allow the productivity of high quality analysis. The Gantt chart can thus be said to have been
designed in a manner which allows all client objectives to be met in record time in line with
the highest standard practices and efficiency.
6.0 Contribution
The iterated frameworks in the report above are within legal practices and are of the highest
standard quality to provide the clients with best output. The Gantt chart displays the tasks that
are needed to be completed to meet the terms and requirements for the models and framework
and in turn satisfy the client requirements; case studies are also iterated for clarification and
better illustration. This segment of the study aims to validate the utilized framework and its
feasibility in ensuring the project requirements and stakeholder expectations are met. The
rationale behind the use of the utilized models would be detailed by elaborating them in
relationship with their objectives.
6.1 Stakeholder Analysis
McDonald et al (2012) suggests the importance of the identification of stakeholders when
making an analysis of the market size in the prospective industry in order to know the key
21. 21
players as well as gain insight into some essential market data. For the Blue Economy,
utilization of stakeholder analysis is not also far-fetched as suggested by Bunn et al (2002)
which emphasizes the utilization of stakeholder analysis in desk research, mapping and
identification of main players at the initiation stage of a project. As the supporting theory
iterates, the implementation of the stakeholder analysis would entail carrying out of primary
research and this could be by interviews, surveys and group meetings with the key stakeholders
who have an influence over the project. This is illustrated by CARIS (2014) which suggests
the need to map the probable bottlenecks that would influence the development of the project
by identification of key players.
While the stakeholder analysis might not seem useful as the project timeline progresses, Bunn
et al (2002) further reemphasizes the usefulness of the data obtained from the stakeholder
analysis in the latter part of the research.
6.2 Market Analysis
Harrison and Reilly (2011) suggest that the best approach for market analysis is utilization of
a combination of the top-down and bottom-top approach when examining market size. While
other traditional approaches to market analysis are available, Hooley et al (2008) iterates the
effectiveness of market analysis using the combined approaches due to its potency in related
market sizing surveys. West and Prendergast (2009) further emphasizes the cogency of the
utilization of this method as a result of its ability to measure the market size based on total
population for the top-down approach and the ability of the tool to measure accurately markets
which are scattered which happens to be what the study would do as a result of the scattered
nature of EU governmental policies and regional data. The utilization of the combination of
the approaches would ensure the highest standard quality analysis report is produced as poor
22. 22
analysis would affect the overall outcome of the project. The market analysis as previously
iterated concentrates on the validation as well as use of the primary and secondary data. Failure
to identify the size of the blue economy and the key components of the blue economy as a
result of inaccuracy of the market analysis would lead to the inability to assess the economic
progress or developments in the researched region.
The stakeholder analysis can thus be said to be essential to this study as it helps in the
identification of the key stakeholders to communicate with respect to future studies or
investigations; also the analysis for market sizing would satisfy a requirement for an iterated
objective for stakeholder consultation.
6.3 Risk Assessment
The importance of risk assessment to the economic growth of organizations and social units is
iterated by Mooreland (2014) suggesting that for industries such as the maritime industry which
is part of the blue economy, assessment of possible risk factors is important because
identification of bottlenecks could result in loss of profit and avoidable consequences for the
organization therein. The risk assessment makes use of tools such as the Economic Cost Benefit
Analysis (ECBA) to assess the financial feasibility of the project and also estimate the impacts
of growth and development, technologically and otherwise on the blue economy. The ECBA
is utilized at this stage to aid the analysis in the determination of the economic value of the
development on blue growth; this tool is the preferred method of risk analysis at this stage not
just because it is the most widely used economic impact determination tool but as a result of
the accuracy of data and statistics it has proven to give in several preceding similar studies
(Linn, 2011). The utilization of ECBA would be helpful in enabling SMEs accurately
determine short term benefits of their investment in the blue economy (Pauli, 2010). Using the
ECBA would involve the utilization of desk based research to aid the accurate measurement of
23. 23
the Net Present Value after which a sensitivity analysis would be carried out to identify the
weak areas of the project and strengthen them (Varga et al 2013).
6.4 Environmentally Extended Input Output Analysis (EEIO)
The evaluation of interrelationships between economic activities and its environmental impacts
no doubt plays an important role in being able to analyse the sustainability of blue growth.
EEIO as a tool is the most effective means for the accurate measurement of this analysis
(Kitzes, 2013).
The EEIO also makes up for areas that the ECBA cannot effectively measure; these areas
include the maritime economy, aquaculture, blue biotechnology other aspects of the blue
economy. The EEIO is also useful as a result of its ability to estimate accurately cash flow
within the several industrial sectors of the blue economy and geographical region being
researched (Weidmann et al, 2013). The importance of this is the ability of the EEIO to
ascertain the extent of impact, financially, of SME’s and Governmental strategic decision on
the blue growth economy and its sustainability as well as held determine the economic
feasibility of the project.
7.0 Reflection
The evolution of the study can thus be further reflected at this point by emphasizing the areas
of benefits this research will provide to the client and in view of future reports. The literature
used in the course of this report iterates the degree of success that SME’s and perhaps other
organizations and by extension the blue economy would derive by investment into research in
this area. The models utilised in this tender which are relevant to aid the sustainability of blue
24. 24
growth includes lean six sigma, the EEIO, PESTLE analysis, ECBA European Commission’s
Maritime Affairs (2014).
Although EEIO is a partly new technique it is suggested for future research economic
sustainability because of its merit in being able to provide a simplified means for the evaluation
of links of environmental bearings and economic profiteering. It is also suggested for future
research because of its use in the evaluation of profit-drivers between nations (Kitzes, 2013).
Due to the development of the Blue Economy as a new one, only a few papers were able to
identify the growth areas and sustainability index of the industries concerned and as such the
research into the growth and development indicators for this industry would prove useful to the
client as it would provide useful information as well as accurate and current data useful in
future strategic decisions and analysis (Labonte, 2010).
In reviewing this bid, it is important to notice the changes that have been made on the A3 maps
iterating development to optimize the best results for the client. This establishes that the
analysts are interested in the inclusion of innovative and investigational models and structures
as iterated in the appendix. The evolution of the bid has not only changed in terms of
methodologies adopted, the utilization of innovative and investigational structures such as the
EEIO has also been adopted in the bid. The bid has also utilized historical and applicable case
studies to iterate similar economic sustainability research in its arguments and emphasized the
validity of these sustainability methods and in furtherance to the argument of the usefulness of
the models and its use in this investigation.
The study would no doubt be useful to SME’s and their development in the blue economy as
well as in further analysis of the blue growth sustainability within the EU. It would aid the
stakeholders in decision making regarding development of the blue economy and also add to
development of the research area and limitation with regards to studies carried in this area.
25. 25
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