Assessing the real value in residential property investment

One of the major fall outs from the Global Financial Crisis has been the decline in residential property construction, home lending and residential property prices. This has lead to some extent to a reduction in the number of small investors willing to commit funds to an investment market that is not seen to perform as well as other investment assets, particularly in relation to income return.With a decreasing supply of rental accommodation in the housing markets, less public housing being constructed by both State and Commonwealth Governments, there is the potential for the residential property market to provide more substantial returns than previous years.This paper will analyse the current residential housing market in Brisbane, Australia to determine if there are sectors in this market that are outperforming the average income and total return for residential investment property and the variation in investment performance across the various housing sub-markets. The results show that property investment in residential property provides opportunities to maximize returns based on geographic location and socio-economic economic status, with lower value areas showing the highest income returns and higher value suburbs showing greater capital returns

The influence of architecture on degradation and tissue ingrowth into three-dimensional poly(lactic-co-glycolic acid) scaffolds in vitro and in vivo

The in vitro and in vivo degradation properties of poly(lactic-co-glycolic acid) (PLGA) scaffolds produced by two different technologies - thermally induced phase separation (TIPS), and solvent casting and particulate leaching (SCPL) were compared. Over 6 weeks, in vitro degradation produced changes in SCPL scaffold dimension, mass, internal architecture and mechanical properties. TIPS scaffolds produced far less changes in these parameters providing significant advantages over SCPL. In vivo results were based on a microsurgically created arteriovenous (AV) loop sandwiched between two TIPS scaffolds placed in a polycarbonate chamber under rat groin skin. Histologically, a predominant foreign body giant cell response and reduced vascularity was evident in tissue ingrowth between 2 and 8 weeks in TIPS scaffolds. Tissue death occurred at 8 weeks in the smallest pores. Morphometric comparison of TIPS and SCPL scaffolds indicated slightly better tissue ingrowth but greater loss of scaffold structure in SCPL scaffolds. Although advantageous in vitro, large surface area:volume ratios and varying pore sizes in PLGA TIPS scaffolds mean that effective in vivo (AV loop) utilization will only be achieved if the foreign body response can be significantly reduced so as to allow successful vascularisation, and hence sustained tissue growth, in pores less than 300 μm. © 2005 Elsevier Ltd. All rights reserved.

Just do it : action's central role in venture creation

This study examined the effect that venture creation action has on the outcomes of nascent entrepreneurship. A theoretical model was developed which proposes action as a fundamental mechanism in venture creation. Thus, action should rightly be considered as a means rather than an end in itself. In this respect, action transmits the effects of venture resource endowments on to venture creation outcomes. This conceptual model was empirically supported in a random sample of nascent ventures. Ventures with higher levels of human or social capital tend to be more active in venture creation. In turn, more active venture attempts are more likely to achieve improved results.

Do balanced skills help nascent entrepreneurs to make progress in the venture creation process?

We apply Lazear’s jack-of-all-trades theory to investigate the effect of nascent entrepreneurs´ balanced skill set across various functional areas on the performance of nascent projects. Analyzing longitudinal data on innovative nascent projects, we find that nascent entrepreneurs with a more balanced skill set are more successful in that they progress faster in the venture creation process.

Mind games : applying White’s principles of narrative therapy to the creation of a cabaret about depression and bipolar disorder

This PhD represents my attempt to make sense of my personal experiences of depression through the form of cabaret. I first experienced depression in 2006. Previously, I had considered myself to be a happy and optimistic person. I found the experience of depression to be a shock: both in the experience itself, and also in the way it effected my own self image. These personal experiences, together with my professional history as a songwriter and cabaret performer, have been the motivating force behind the research project. This study has explored the question: What are the implications of applying principles of Michael White’s narrative therapy to the creation of a cabaret performance about depression and bipolar disorder? There is a 50 percent weighting on the creative work, the cabaret performance Mind Games, and a 50 percent weighting on the written exegesis. This research has focussed on the illustration of therapeutic principles in order to play games of truth within a cabaret performance. The research project investigates ways of telling my own story in relation to others’ stories through three re-authoring principles articulated in Michael White’s narrative therapy: externalisation, an autonomous ethic of living and rich descriptions. The personal stories presented in the cabaret were drawn from my own experiences and from interviews with individuals with depression or bipolar disorder. The cabaret focussed on the illustration of therapeutic principles, and was not focussed on therapeutic ends for myself or the interviewees. The research question has been approached through a methodology combining autoethnographic, practice-led and action research. Auto ethnographic research is characterised by close investigation of assumptions, attitudes, and beliefs. The combination of autoethnographic, practice-led, action research has allowed me to bring together personal experiences of mental illness, research into therapeutic techniques, social attitudes and public discourses about mental illness and forms of contemporary cabaret to facilitate the creation of a one-woman cabaret performance. The exegesis begins with a discussion of games of truth as informed by Michel Foucault and Michael White and self-stigma as informed by Michael White and Erving Goffman. These concepts form the basis for a discussion of my own personal experiences. White’s narrative therapy is focused on individuals re-authoring their stories, or telling their stories in different ways. White’s principles are influenced by Foucault’s notions of truth and power. Foucault’s term games of truth has been used to describe the effect of a ‘truth in flux’ that occurs through White’s re-authoring process. This study argues that cabaret is an appropriate form to represent this therapeutic process because it favours heightened performativity over realism, and showcases its ‘constructedness’ and artificiality. Thus cabaret is well suited to playing games of truth. A contextual review compares two major cabaret trends, personal cabaret and provocative cabaret, in reference to the performer’s relationship with the audience in terms of distance and intimacy. The study draws a parallel between principles of distance and intimacy in Michael White’s narrative therapy and relates these to performative terms of distance and intimacy. The creative component of this study, the cabaret Mind Games, used principles of narrative therapy to present the character ‘Jo’ playing games of truth through: externalising an aspect of her personality (externalisation); exploring different life values (an autonomous ethic of living); and enacting multiple versions of her identity (rich descriptions). This constant shifting between distance and intimacy within the cabaret created the effect of a truth in ‘constant flux’, to use one of White’s terms. There are three inter-related findings in the study. The first finding is that the application of principles of White’s narrative therapy was able to successfully combine provocative and empathetic elements within the cabaret. The second finding is that the personal agenda of addressing my own self-stigma within the project limited the effective portrayal of a ‘truth in flux’ within the cabaret. The third finding presents the view that the cabaret expressed ‘Jo’ playing games of truth in order to journey towards her own "preferred identity claim" (White 2004b) through an act of "self care" (Foucault 2005). The contribution to knowledge of this research project is the application of therapeutic principles to the creation of a cabaret performance. This process has focussed on creating a self-revelatory cabaret that questions notions of a ‘fixed truth’ through combining elements of existing cabaret forms in new ways. Two major forms in contemporary cabaret, the personal cabaret and the provocative cabaret use the performer-audience relationship in distinctive ways. Through combining elements of these two cabaret forms, I have explored ways to create a provocative cabaret focussed on the act of self-revelation.

Learning and acting in project situations through a meta-method (MAP) a case study : contextual and situational approach for project management governance in management education

The paper introduces the underlying principles and the general features of a meta-method (MAP method) developed as part of and used in various research, education and professional development programmes at ESC Lille. This method aims at providing effective and efficient structure and process for acting and learning in various complex, uncertain and ambiguous managerial situations (projects, programmes, portfolios). The paper is developed around three main parts. First, I suggest revisiting the dominant vision of the project management knowledge field, based on the assumptions they are not addressing adequately current business and management contexts and situations, and that competencies in management of entrepreneurial activities are the sources of creation of value for organisations. Then, grounded on the former developments, I introduce the underlying concepts supporting MAP method seen as a ‘convention generator’ and how this meta method inextricably links learning and practice in addressing managerial situations. Finally, I briefly describe an example of application, illustrating with a case study how the method integrates Project Management Governance, and give few examples of use in Management Education and Professional Development.

Mapping the dynamic of Project Management field : Project Management in action

Focusing on the role within and between organizations of the project management discipline to design and implement strategy, as source of competitive advantage, leads us to question the scientific field behind this discipline. This science should be the basis for the development and use of bodies of knowledge, standards, certification programs, education, and competencies, and beyond this as a source of value for people, organizations, and society. Thus the importance to characterize, define, and understand this field and its underlying strength, basis, and development is paramount. For this purpose we propose to give some insights on the current situation. This will lead us to clarify our epistemological position and demonstrate that both constructivism and positivist approaches are required to seize the full dimension and dynamics of the field.We will referee to sociology of actor-networks and qualitative scientometrics leading to the choice of the co-word analysis method in enabling us to capture the project management field and its dynamics.Results of a study based on the analysis of ABI Inform database will be presented and some future trends and scenarios proposed.

Some reflections about P2M : the place of the mirror

The purpose of this paper is to provide some insights about P2M, and more specifically, to develop some thoughts about Project Management seen as a Mirror, a place for reflection…, between the Mission of organisation and its actual creation of Values (with s: a source of value for people, organisations and society). This place is the realm of complexity, of interactions between multiple variables, each of them having a specific time horizon and occupying a specific place, playing a specific role. Before developing this paper I would like to borrow to my colleague and friend, Professor Ohara, the following, part of a paper going to be presented at IPMA World Congress, in New Delhi later this year in November 2005. “P2M is the Japanese version of project & program management, which is the first standard guide for education and certification developed in 2001. A specific finding of P2M is characterized by “mission driven management of projects” or a program which harness complexity of problem solving observed in the interface between technical system and business model.” (Ohara, 2005, IPMA Conference, New Delhi) “The term of “mission” is a key word in the field of corporate strategy, where it expresses raison d’être or “value of business”. It is more specifically used for expressing “the client needs” in terms of a strategic business unit. The concept of mission is deemed to be a useful tool to share essential content of value and needs in message for complex project.” (Ohara, 2005, IPMA Conference, New Delhi) “Mission is considered as a significant “metamodel representation” by several reasons. First, it represents multiple values for aspiration. The central objective of mission initiative is profiling of ideality in the future from reality, which all stakeholders are glad to accept and share. Second, it shall be within a stretch of efforts, and not beyond or outside of the realization. Though it looks like unique, it has to depict a solid foundation. The pragmatic sense of equilibrium between innovation and adaptation is required for the mission. Third, it shall imply a rough sketch for solution to critical issues for problems in reality.” (Ohara, 2005, IPMA Conference, New Delhi) “Project modeling” idea has been introduced in P2M program management. A package of three project models of “scheme”, “system” and “service” are given as a reference type program. (Ohara, 2005, IPMA Conference, New Delhi) If these quotes apply to P2M, they are fully congruent with the results of the research undertaken and the resulting meta-model & meta-method developed by the CIMAP, ESC Lille Research Centre in Project & Program Management, since the 80’s. The paper starts by questioning the common Project Management (PM) paradigm. Then discussing the concept of Project, it argues that an alternative epistemological position should be taken to capture Page 2 / 11 the very nature of the PM field. Based on this, a development about “the need of modelling to understand” is proposed grounded on two theoretical roots. This leads to the conclusion that, in order to enables this modelling, a standard approach is necessary, but should be understood under the perspective of the Theory of Convention in order to facilitate a situational and contextual application.

Investigating the future of project management : a co-word analysis approach

If Project Management (PM) is a well-accepted mode of managing organizations, more and more organizations are adopting PM in order to satisfy the diversified needs of application areas within a variety of industries and organizations. Concurrently, the number of PM practitioners and people involved at various level of qualification is vigorously rising. Thus the importance to characterize, define and understand this field and its underlying strength, basis and development is paramount. For this purpose we will referee to sociology of actor-networks and qualitative scientometrics leading to the choice of the co-word analysis method in enabling us to capture the project management field and its dynamics. Results of a study based on the analysis of EBSCO Business Source Premier Database will be presented and some future trends and scenarios proposed. The main following trends are confirmed, in alignment with previous studies: continuous interest for the “cost engineering” aspects, on going interest for Economic aspects and contracts, how to deal with various project types (categorizations), the integration with Supply Chain Management and Learning and Knowledge Management. Furthermore besides these continuous trends, we can note new areas of interest: the link between strategy and project, Governance, the importance of maturity (organizational performance and metrics, control) and Change Management. We see the actors (Professional Bodies, Governmental Bodies, Agencies, Universities, Industries, Researchers, and Practitioners) reinforcing their competing/cooperative strategies in the development of standards and certifications and moving to more “business oriented” relationships with their members and main stakeholders (Governments, Institutions like European Community, Industries, Agencies, NGOs…), at least at central level.

'Kaikaku’ project management : investigating the Japanese answer to the 90s depression

The purpose of this paper is to investigate the Japanese answer to the 90s depression, both as a case study of what framework has been developed to address new business challenges and value creation in complex, ambiguous and uncertain environment; and in order to expose what are, in our view, the underlying theoretical bases supporting this framework. This theoretical approach, and the resulting lessons learned, is assumed to be helpful to transpose the Japanese experience to other analogical contexts and situations.

Learning and acting in project situations through a meta-method (MAP) : a case study : contextual and situational approach for project management governance in management education

The paper introduces the underlying principles and the general features of a meta-method (MAP method – Management & Analysis of Projects) developed as part of and used in various research, education and professional development programmes at ESC Lille. This method aims at providing effective and efficient structure and process for acting and learning in various complex, uncertain and ambiguous managerial situations (projects, programmes, portfolios). The paper is organized in three parts. In a first part, I propose to revisit the dominant vision of the project management knowledge field, based on the assumptions they are not addressing adequately current business and management contexts and situations, and that competencies in management of entrepreneurial activities are the sources of creation of value for organisations. Then, grounded on the new suggested perspective, the second part presents the underlying concepts supporting MAP method seen as a ‘convention generator' and how this meta-method inextricably links learning and practice in addressing managerial situations. The third part describes example of application, illustrating with a brief case study how the method integrates Project Management Governance, and gives few examples of use in Management Education and Professional Development.

Shikumidukuri vs. one best (no) way! Project and Programme Management for Enterprise Innovation (P2M) : towards a new paradigm?

The purpose of this paper is to investigate the Japanese answer to the 90’s depression by (i). presenting a case study of the framework developed to address the new business challenges and value creation in complex, ambiguous and uncertain environment, i.e., Development of Project and Programme Management for Enterprise Innovation (P2M) and Project Management Association Japan (PMAJ) in Japan; and (ii). Exposing what in our view are the underlying theoretical bases supporting this framework and from this drawing some theoretical lessons learnt which could be helpful to the development of sound PM standards and PM competence model. This theoretical approach is assumed to be useful to transpose the Japanese experience to other analogical contexts and situations.

Information technology and business value in a global economy : do information technology investments pay off in a developing economy?

Understanding the business value of IT has mostly been studied in developed countries, but because most investment in developing countries is derived from external sources, the influence of that investment on business value is likely to be different. We test this notion using a two-layer model. We examine the impact of IT investments on firm processes, and the relationship of these processes to firm performance in a developing country. Our findings suggest that investment in different areas of IT positively relates to improvements in intermediate business processes and these intermediate business processes positively relate to the overall financial performance of firms in a developing country.

Information technology resources,complementaries and capabilities : towards a deeper understanding of leveraging business value from IT

Organisations devote substantial resources to acquire information technology (IT), and explaining the important issue of how IT can affect performance has posed a significant challenge to information system (IS) researchers. Owing to the importance of expanding our understanding on how and where IT and IT-related resources impact organisational performance, this study investigates the differential effects of IT resources and IT-related capabilities, in the presence of platform-related complementarities, on business process performance. We test these relationships empirically via a field survey of 216 firms. The findings suggest that IT resources and IT-related capabilities explain variance in performance. Of interest is the finding that IT resources and IT-related capabilities ability to explain variance in business process is further enhanced by the presence of the platform-related complementarities. Our findings are largely consistent with the resource-based and complementarity arguments of sources of IT-related business value.

Information technology and business value: how complementary IT usage platform and capable resources explain IT business value variation

Understanding information technology’s (ITs) contribution to business value is an imperative issue, and while we have attempted to untangle the relationship between IT and business value with some success, our knowledge of specific factors leading to ITs contribution to business value still remains limited. In this paper we propose that complementing IT resources, by establishing a sound IT platform with capable organisational resources may aid in ITs ability to contribute to business value. We suggest that performance measurement of this contribution be undertaken at the business process level first, and then mapped through to firm level performance measurement to obtain a better understanding of the path of IT business value contribution.