Creating value in project management using PRINCE2

This important research is published at a critical time in the history of PRINCE2. The world’s project managers are under incredible scrutiny and pressure to ensure their projects deliver quality on time and on budget – and even more so during a world recession. The research shows that PRINCE2 goes a long way to helping them achieve these goals. Although its origins began in the UK, PRINCE2 now has a truly international reach. We are delighted that the Queensland University of Technology (QUT) has undertaken this global, thorough and informative research project. While it highlights the strengths of the methodology itself, the report also looks at the challenges organisations face when using a project management method such as PRINCE2. We’re sure the challenges will resonate with project managers around the world. Securing executive support to champion the adoption of PRINCE2, creating a robust business case and prioritising project governance are key issues that all project managers will grapple with during their career. The research also shows that to be thoroughly effective, organisations need to properly embed PRINCE2 and tailor it to suit their particular circumstances. Many successful organisations have sought the effective help of accredited consulting organisations to assist them in developing a programme to tailor and inculcate this method into their organisational culture. The latest version incorporates a whole chapter on tailoring PRINCE2. We believe that the publication of PRINCE2 Directing Successful Projects using PRINCE2 and the development of further support in the form of materials, mentoring and training for senior executives will be of significant benefit to contemporary project based organisations. The APM Group has already developed a qualification for sponsors in conjunction with the UK’s Home Office to help with this.

Generating new economic activity through design

Firms face the challenge of remaining competitive through both entrepreneurial activities and the strategic management of resources. Strategic entrepreneurship around notions of acquiring, bundling and leveraging resources to create value for customers and firm competitive advantage has been studied in relation to large established firms (Hitt et al 2010) but largely overlooked in studies of small and medium enterprises. Recent theorizing regarding the processes by which firms orchestrate resources to create new economic activity (Sirmon et al, 2011) has focused on the managerial capabilities of structuring, bundling and leveraging resources across the firms breadth, depth and lifecycle. This approach offers a potential framework for investigating processes of economic activity and strategic renewal (Agarwal & Helfat, 2009).

Domestic and international strategies in the Queensland wine industry

Purpose Over the past decade, the Queensland wine industry has experienced a greater percentage growth than the Australian national average. The aim of the research undertaken for this article is to identify specific national and international strategies that have allowed the industry to achieve this level of growth. Design/methodology/approach The study involved a quantitative survey of all Queensland wineries at the time (n=101), using a five-point Likert-scaled questionnaire with questions developed from the literature, together with a small-scale qualitative survey involving in-depth interviews of winery managers and industry leaders. Findings The findings indicated that key strategies in the domestic sector included a focus on cellar door sales combined with establishing links with the tourism industry, together with an incremental expansion of domestic markets. For the international sector, additional strategies included targeting familiar, psychically-close and niche markets in the initial stages of exporting, as well as taking advantage of firm-specific strengths and managerial competencies. Originality/value Not previously regarded as a major wine producing region of Australia, the Queensland wine industry has received limited attention in the literature, particularly the reasons for its rapid growth in recent years. The article helps to identify the strategies used by wineries in growing the industry.

Four years on – are the Gazelles still running? A longitudinal study of firm performance after a period of rapid growth

Gazelles, or very rapidly growing firms, are important because they contribute disproportionately to economic growth. There is a concern that some of these firms pursue growth too aggressively resulting in lower subsequent performance. We investigate the relationship between growth and subsequent profitability for gazelle firms, and how this is moderated by firm strategy. Previous empirical research regarding the growth-profitability relationship for firms in general is rather inconclusive, with only one study specifically investigating gazelle firms. Likewise, there are theoretical arguments both for and against growth leading to profitability that equally apply to gazelle firms. Further, while contingency theory might suggest the relationship depends on the firm’s strategy, earlier studies have not investigated this relationship. We address these questions using longitudinal data (seven years) for a sample of 964 Danish Gazelle firms. Our study finds a clear positive relationship between growth and subsequent profitability among gazelle firms. Moreover, this relationship is stronger for firms pursuing a broad market strategy rather than a focus or niche strategy. An important managerial implication is that the growth strategy should be clearly integrated with the general strategic orientation of the firm.

Nonprofit organisations and value added (GST) taxation

The subject of this paper is the changes in the taxation of non-profit organisations which seem to be more or less inherent in the value added taxes. The Australian federal Coalition's proposed goods and services tax will be part of the discussion.

An Econometric Analysis of Inter-Firm Labour Mobility

This paper utilizes the Survey of Work History (1981) data to examine the importance of non-random sampling in the context of a model of interfirm labour mobility. The paper adopts Heckman's two-step procedure in order to estimate a three-equation model incorporating an individual's mobility status as endogenously determined. The main conclusion is that in estimating wage equations it is important to consider the role of job mobility and to correct for the effects of sample-selection bias. The results generally accord with those reported by Osberg et al. (1986) in the only previous Canadian study of job mobility in a sample-selection context.

The "free-factor" impact on value in health services

Purpose - This paper seeks to understand the impact of financial cost on customer value in health prevention services by comparing free government services with private fee-charging providers. This is important as there is a common belief that a free health service is of lower quality and thus lower value than a paid service. However there is no evidence to verify this notion. Design / Methodology / Approach - A large-scale online survey was administered nationwide to Australian women. The respondents were asked about the functional and emotional value derived from their service experiences. Findings - Structural equation modelling (SEM) revealed non significant relationships between fee/free services and functional and emotional value (FV/EV). The non-significant relationship with FV is contrary to the theory of price quality relationship in services. This could be attributed to consumer perceptions that the technical quality of health professionals is comparable across free and paid services. The non-significant relationship with EV could be explained by the indicators used to reflect EV. These indicators were reflective of breast screening behaviour, not breast screening services. Subsequently, it may be posited that the act of having a breast screen is sufficient for consumers to derive emotional value, regardless of the financial cost. Originality / Value - This research fills an important gap in the literature by investigating the impact of financial cost on a service that consumers use proactively(prevention), rather than reactively (treatment). Insights are provided into the impact of cost on customer value in preventive health services, which are valuable to social marketing academics, health practitioners, and governments

A ‘Value Ecology’ approach to the performing arts

In recent years, ecological thinking has been applied to a range of social, cultural and aesthetic systems, including performing arts as a living system of policy makers, producers, organisations, artists and audiences. Ecological thinking is systems-based thinking which allows us to see the performing arts as a complex and protean ecosystem; to explain how elements in this system act and interact; and to evaluate its effects on Australia’s social fabric over time. According to Gallasch, ecological thinking is “what we desperately need for the arts.” It enables us to “defeat the fragmentary and utilitarian view of the arts that dominates, to make connections, to establish overviews of the arts that can be shared and debated” (Gallasch NP). John Baylis took up these issues in "Mapping Queensland Theatre" (2009), an Arts Queensland-funded survey designed to map practices in Brisbane and in Queensland more broadly, and to provide a platform to support future policy-making. In this paper, we propose a new approach to mapping Brisbane’s and Queensland’s theatre that extends Baylis’ ‘value chain’ into a ‘value ecology’ that provides a more textured picture of players, patterns, relationships and activity levels in local performing arts.

Assessing occupational stress in psychiatric nurses using the full job strain model the value of social support to nurses

The present research examined the effects of occupational stress in psychiatric nursing on employee well!being using the full Job Strain Model.The Job Strain Model was assessed for its ability to predict employee well!being in terms of job satisfaction and mental health. The original Job Strain Model was expanded to include social support based on previous research concerning the impact of social support on well!being[ In the present study\ both work support and non-work were assessed for their contribution to wellbeing.The results of this study indicate that the full Job Strain Model can be used to significantly predict job satisfaction and mental health in this sample of Australian psychiatric nurses. Furthermore social support was shown to be an important component of the Job Strain Model.

Waving or drowning? Managing resource constraints in entrepreneurial firm with bricolage as a response to the global financial crisis

These are challenging times for new entrepreneurial firms. The development of the Global Financial Crisis shook the very foundations of global markets and institutions that most firms relied on to do business (Claessens, et al., forthcoming). In the midst of institutional flux and resource constraints, entrepreneurial firms, which have been shown to make a range of contributions to the economy (van Praag & Versloot 2007) faced increasing constraints. The Australian Federal Government quickly implemented the Green Loan program in response to the financial crisis. Unfortunately, the green loans program was flawed with obsolete processes and information (Faulkner, 2011), further constraining new firms. Prior research provides few clues regarding how resource-constrained entrepreneurial firms deal with these institutional flaws within institutional change and how they might overcome these challenges and prosper. One promising theory that evaluates behavioural responses to constraints and institutional flaws is bricolage (Levi Strauss, 1967). Bricolage aligns with notions of resourcefulness: defined here as “making do by applying combinations of the resources at hand to new problems and opportunities” (Baker and Nelson 2005: 333). Using three case studies, we consider how institutional flaws impact firm behaviours and illustrate the use of bricolage in attempts to reinforce, shape and change the GL program further extending bricolage domains of Baker and Nelson (2005).

Unpacking the opportunities for change within a family owned manufacturing SME : a design led innovation case study

The following paper presents insights found during an ongoing industry engagement with a family-owned manufacturing SME in Australia. The initial findings presented as a case study look at the opportunities available to the firm engaging in a design led approach to innovation. Over the period of one year, the first author’s immersion within the firm seeks to unpack the cultural, strategic, product opportunities and challenges when adopting design led innovation. This can provide a better understanding of how a firm can more effectively assess their value proposition in the market and what factors of the business are imperative in stimulating competitive difference. The core insight identified from this paper is that design led innovation cannot be seen and treated as a discrete event, nor a series of steps or stages; rather the whole business model needs to be in focus to achieve holistic, sustainable innovation. Initial insights were found through qualitative interviews with internal employees including: overcoming silos; moving from reactive to proactive design; empowerment; vision for growth and the framing of innovation.

On governing collaborative Information Technology (IT) : a relational perspective

Organizations today invest in collaborative IT to engage in collaborative alliances to sustain or improve their competitive positions. Effective use of this collaborative IT in an alliance requires a deeper understanding of their governance structures. This effort is to ensure the sustainability of these alliances. Through the relational view of the firm, we suggest relational lateral IT-steering committees, relational IT operational committees, and relational IT performance management systems as IT governance structures for collaborative alliances. We then incorporate these structures, develop a model for approaches to governing collaborative IT, and evaluate the effectiveness for such governance structures in the IT-dependent alliances. We suggest that IT governance efforts of an alliance should contribute to their collaborative rent. We also suggest that the collaborative rent of an alliance would relate to the business value of its alliance partners. Field survey data containing 192 responses indicates a positive influence of the suggested IT governance efforts of the alliance on the collaborative rent of the alliance. The results also suggest a positive impact of the collaborative rent of the alliance on the business value of the alliance partners.

Beyond demand management : the value of sharing electricity information

Technologies such as smart meters and electricity feedback are becoming an increasingly compelling focus for HCI researchers in light of rising power prices and peak demand. We argue, however, that a pre-occupation with the goal of demand management has limited the scope of design for these technologies. In this paper we present our work-in-progress investigating the potential value of socially sharing electricity information as a means of broadening the scope of design for these devices. This paper outlines some preliminary findings gathered from a design workshop and a series of qualitative interviews with householders in Brisbane, Australia, regarding their attitudes towards electricity feedback and sharing consumption information. Preliminary findings suggest that; (1) the social sharing of electricity feedback information has the potential to be of value in better informing consumption decisions, however; (2) the potential for sharing may be constrained by attitudes towards privacy, trust and the possibility of misinformation being shared. We conclude by outlining ideas for our future research on this topic and invite comments on these ideas.