International partner selection Indian technical textile market

Due to a combination of a vast agricultural industry and a tremendously growing technical textile industry, Ludvig Svensson identified India as target market for possible expansion through domestic production and supply. However, Svensson needed additional information about the industry structure and key players. Therefore, this project focused on a detailed analysis of the technical textile market and its players by following the international partner selection process. Thereby, five key players were identified as potential partners, as well as the need for additional research to determine alternative entry modes, as the market does not currently seem to be receptive for Svensson products.

On project finance and the first road concession in Portugal

In broad sense, Project Financing1 as a mean of financing large scale infrastructural projects worldwide has had a steady growth in popularity for the last 20 years. This growth has been relatively unscathed from most economic cycles. However in the wake of the 2007 systemic Financial Crisis, Project Financing was also in trouble. The liquidity freeze and credit crunch that ensued affected all parties involved. Traditional Lenders, of this type of financial instrument, locked-in long-term contractual obligations, were severely hit with scarcity of funding compounded by rapidly increasing cost of funding. All the while, Banks were “rescued” by the concerted actions of Central Banks and other Multi-Lateral Agencies around the world but at the same time “stressed” by upcoming regulatory effort (Basel Committee). This impact resulted in specific changes to this type of long-term financing. Changes such as Commercial Banks’ increased risk aversion; pricing increase and maturities decrease of credit facilities; enforcement of Market Disruption Event clauses; partial responsibility for project risk by Multilateral Agencies; and adoption of utility-like availability payments in other industrial sectors such as transportation and even social infrastructure. To the extent possible, this report is then divided in three parts. First, it begins with a more instructional part, touching academic literature (theory) and giving the Banks perspective (practice), but mostly as an overview of Project Finance for awareness’ sake. The renowned Harvard Business School professor – Benjamin Esty, states2 that Project Finance is a “relatively unexplored territory for both empirical and theoretical research” which means that academic research efforts are lagging the practice of Project Finance. Second, the report presents a practical case regarding the first Road Concession in Portugal in 1998 ending with the lessons learned 10 years after Financial Close. Lastly, the report concludes with the analysis of the current trends and changes to the industry post Financial Crisis of the late 2000’s. To achieve this I’ll reference relevant papers, books on the subject, online articles and my own experience in the Project Finance Department at a major Portuguese Investment Bank. Regarding the latter, with the signing of a confidentiality agreement, I’m duly omitting sensitive and proprietary bank information.

How do global born companies ignite their internationalization and survive in international markets?

Over the last decades, the born global firms or the international new ventures (“INVs”) have assumed a growing role in international business, including in Portugal. The rise of this new type of multinational has challenged several theories concerning the development of multinational companies and the origin of companies’ competitive advantage. This qualitative, case-based research explores the most relevant traits shown by some Portuguese born-global firms. More concretely, the aim of this work is to compare some Portuguese international new ventures in order to understand the role of leadership, culture and strategy in their rapid internationalization and the source of their lasting competitive advantage. It was noticed that these firms’ lasting competitive advantage results from a singular combination of resources and dynamic capabilities that evolves over time. Moreover, it was found that these firms’ foreign subsidiaries and local networks may be essential to enhance the firms competitive advantage as it provides each firm a distinctive source of knowledge and capabilities. As a consequence, the effective assimilation of such resources and capabilities in these firms’ may become crucial for their lasting success. In addition, the leadership, strategy and culture in these firms seem to be quite aligned and form a quite virtuous cycle that contributed to the firms rapid internationalization and for the way the firms developed their own resources and dynamic capabilities and adapted to external environment.

Valuing an offshore exploration project through real options analysis

This thesis applied real options analysis to the valuation of an offshore oil exploration project, taking into consideration the several options typically faced by the management team of these projects. The real options process is developed under technical and price uncertainties, where it is considered that the mean reversion stochastic process is more adequate to describe the movement of oil price throught time. The valuation is realized to two case scenarios, being the first a simplified approach to develop the intuition of the used concepts, and the later a more complete cases that is resolved using both the binomial and trinomial processes to describe oil price movement. Real options methodology demonstrated to be capable of assessing and valuing the projects options, and of overcoming common capital budgeting methodologies flexibility limitation. The added value of the application of real options is evident, but so is the method's increased complexity, which adversely influence its widespread implementation.

A deslocalização produtiva em Portugal: o caso de uma empresa do setor das cutelarias

Projeto de estágio de mestrado em Economia Industrial e da Empresa

The encore project: sustainable solutions for cementitious materials

Since concrete is the most widely utilized construction material, several solutions are currently being developed and investigated for enhancing the sustainability of cementitious materials. One of these solutions is based on producing Recycled Concrete Aggregates (RCA) from existing concrete members resulting by either industrial processes or demolitions of existing structures as a whole. Moreover, waste resulting from industrial processes other than the building construction (i.e., tire recycling, production of steel, powders resulting from other depuration processes) are also being considered as possible low-impact constituents for producing structural concrete and Fiber-Reinforced Cementitious Composites (FRCC). Furthermore, the use of natural fibers is another option for producing environmentally-friendly and cost-effective materials, depending on the local availability of raw materials. To promote the use of concretes partially composed of recycled constituents, their influence on the mechanical and durability performance of these concretes have to be deeply investigated and correlated. This was the main goal of the EnCoRe Project (www.encore-fp7.unisa.it), a EU-funded initiative, whose activities and main findings are summarized in this paper.

Project management: evaluation of the problems in the portuguese construction industry

During recent decades it has been possible to identify several problems in construction industry project management, related with to systematic failures in terms of fulfilling its schedule, cost and quality targets, which highlight a need for an evaluation of the factors that may cause these failures. Therefore, it is important to understand how project managers plan the projects, so that the performance and the results can be improved. However, it is important to understand if other areas beyond cost and time management that are mentioned on several studies as the most critical areas, receive the necessary attention from construction project managers. Despite the cost and time are the most sensitive areas/fields, there are several other factors that may lead to project failure. This study aims at understand the reasons that may cause the deviation in terms of cost, time and quality, from the project management point of view, looking at the knowledge areas mentioned by PMI (Project Management Institute).

A construção de um currículo de project-based learning: o currículo ideal e o currículo formal

O objetivo deste trabalho é apresentar os resultados da análise das concepções de dois protagonistas de uma reforma curricular que está sendo implementada numa escola de engenharia. A principal característica do novo currículo é o uso de projetos e oficinas como atividades complementares a serem realizadas pelos estudantes. As atividades complementares acontecerão em paralelo ao trabalho realizado nas disciplinas sem que haja uma relação de interdisciplinaridade. O novo currículo está sendo implantado desde fevereiro de 2015. Segundo Pacheco (2005) há dois momentos, dentre outros, no processo de mudança curricular, o currículo “ideal”, determinado por dimensões epistemológica, política, econômica, ideológica, técnica, estética, e histórica e, que recebe influência direta daquele que idealiza e cria o novo currículo e, o currículo “formal” que se traduz na prática implementada na escola. São essas duas etapas estudadas nesta pesquisa. Para isso serão considerados como fontes de dados dois protagonistas, um mais ligado à concepção do currículo e outro da sua implementação, a partir dos quais se busca compreender as motivações, crenças e percepções que, por sua vez, determinam a reforma curricular. Entrevistas semiestruturadas foram utilizadas como técnica de pesquisa, com o propósito de se entender a gênese da proposta e as mudanças entre essas duas etapas. Os dados revelam que mudanças aconteceram desde a idealização até a formalização do currículo, motivadas por demandas do processo de implementação, revela ainda diferenças na visão de currículo e a motivação para romper com padrões na formação de engenheiros no Brasil.

Implementation of a lean six sigma project in a production line

Companies from the motorcycles components branch are dealing with a dynamic environment, resulting from the introduction of new products and the increase of market demand. This dynamic environment requires frequent changes in production lines and requires flexibility in the processes, which can cause reductions in the level of quality and productivity. This paper presents a Lean Six Sigma improvement project performed in a production line of the company's machining sector, in order to eliminate losses that cause low productivity, affecting the fulfillment of the production plan and customer satisfaction. The use of Lean methodology following the DMAIC stages allowed analyzing the factors that influence the line productivity loss. The major problems and causes that contribute to a reduction on productivity and that were identified in this study are the lack of standardization in the setup activities and the excessive stoppages for adjustment of the processes that caused an increase of defects. Control charts, Pareto analysis and cause-and-effect diagrams were used to analyze the problem. On the improvement stage, the changes were based on the reconfiguration of the line layout as well as the modernization of the process. Overall, the project justified an investment in new equipment, the defective product units were reduced by 84% and an increase of 29% of line capacity was noticed.

Shining examples analysed within the EBC Annex 56 project

The International Energy Agency established an Implementing Agreement within the Energy in Buildings and Communities Program to undertake research and provide an international focus on Cost Effective Energy and Carbon Emissions Optimization in Building Renovation (EBC Annex 56). The project aims at developing a new methodology to enable cost effective renovation of existing buildings while optimizing energy consumption and carbon emissions reduction. Gathering of case studies is one of the activities undertaken to reach the overall project. Of the case studies a selection of â Shining Examplesâ is made to encourage decision makers to promote efficient and cost effective renovations. This paper presents the results of the analyses made on the Shining Examples.

The importance of risk assessment in the context of investment project management: a case study

Risk management is an important component of project management. Nevertheless, such process begins with risk assessment and evaluation. In this research project, a detailed analysis of the methodologies used to treat risks in investment projects adopted by the Banco da Amazonia S.A. was made. Investment projects submitted to the FNO (Constitutional Fund for Financing the North) during 2011 and 2012 were considered for that purpose. It was found that the evaluators of this credit institution use multiple indicators for risk assessment which assume a central role in terms of decision-making and contribute for the approval or the rejection of the submitted projects; namely, the proven ability to pay, the financial records of project promotors, several financial restrictions, level of equity, level of financial indebtedness, evidence of the existence of a consumer market, the proven experience of the partners/owners in the business, environmental aspects, etc. Furthermore, the bank has technological systems to support the risk assessment process, an internal communication system and a unique system for the management of operational risk.

Project management under uncertainty: a study on solution methods

Project Management involves onetime endeavors that demand for getting it right the first time. On the other hand, project scheduling, being one of the most modeled project management process stages, still faces a wide gap from theory to practice. Demanding computational models and their consequent call for simplification, divert the implementation of such models in project management tools from the actual day to day project management process. Special focus is being made to the robustness of the generated project schedules facing the omnipresence of uncertainty. An "easy" way out is to add, more or less cleverly calculated, time buffers that always result in project duration increase and correspondingly, in cost. A better approach to deal with uncertainty seems to be to explore slack that might be present in a given project schedule, a fortiori when a non-optimal schedule is used. The combination of such approach to recent advances in modeling resource allocation and scheduling techniques to cope with the increasing flexibility in resources, as can be expressed in "Flexible Resource Constraint Project Scheduling Problem" (FRCPSP) formulations, should be a promising line of research to generate more adequate project management tools. In reality, this approach has been frequently used, by project managers in an ad-hoc way.

Project scheduling and cost minimization with multiple availability constrained resources under stochastic conditions

The authors propose a mathematical model to minimize the project total cost where there are multiple resources constrained by maximum availability. They assume the resources as renewable and the activities can use any subset of resources requiring any quantity from a limited real interval. The stochastic nature is inferred by means of a stochastic work content defined per resource within an activity and following a known distribution and the total cost is the sum of the resource allocation cost with the tardiness cost or earliness bonus in case the project finishes after or before the due date, respectively. The model was computationally implemented relying upon an interchange of two global optimization metaheuristics – the electromagnetism-like mechanism and the evolutionary strategies. Two experiments were conducted testing the implementation to projects with single and multiple resources, and with or without maximum availability constraints. The set of collected results shows good behavior in general and provide a tool to further assist project manager decision making in the planning phase.

OPM3® Portugal project: information systems and technologies organizations: outcome analysis

Increasing the maturity in Project Management (PM) has become a goal for many organizations, leading them to adopt maturity models to assess the current state of its PM practices and compare them with the best practices in the industry where the organization is inserted. One of the main PM maturity models is the Organizational Project Management Maturity Model (OPM3®), developed by the Project Management Institute. This paper presents the Information Systems and Technologies organizations outcome analysis, of the assesses made by the OPM3® Portugal Project, identifying the PM processes that are “best” implemented in this particular industry and those in which it is urgent to improve. Additionally, a comparison between the different organizations’ size analyzed is presented.