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The consideration of the substitution phenomenon in the project portfolio selection problem can improve the robustness of project portfolio selection and help enterprises better achieve their strategic objectives. However, the existence of inter-project risk propagation will have a negative impact on project substitution. This paper proposes a new framework for project portfolio selection and constructs a risk propagation model based on strategic objectives to study the impact of risk propagation on substitution in the project portfolio.

The authors first construct a risk propagation model based on strategic objectives to describe the risk propagation between projects. Then the project substitution phenomenon based on risk propagation is put forward, and the calculation method of substitution loss is given. Finally, a robust project portfolio selection framework based on strategic objectives considering risk propagation is constructed.

The analysis of a case study demonstrates that (1) With the increase of risk intensity, the strategic loss of the same project portfolio increases linearly, and under the same risk intensity, the more projects in the portfolio, the stronger the robustness. (2) Considering risk propagation, the effect of project substitution is significantly weakened, and the strategic loss rate of the project portfolio is significantly increased compared with that of a direct attack.

This study is the first to take the project substitution into account in the project portfolio selection process. Moreover, the authors describe inter-project risk propagation and analyze the impact of risk propagation on the project substitution phenomenon. Finally, the authors extend the evaluation index of robustness. This paper puts forward a new way to solve the problem of project portfolio selection.

To meet the rapidly increasing demand for medical treatment during the outbreak of COVID-19, Huoshengshan and Leishenshan Hospital are rapidly built (9–12 days) in Wuhan. These two urgent emergency projects are unprecedented. In general, substantial literature suggests that the possibility of shortening a schedule by more than a quarter of its original duration is implausible. By contrast, the two projects had successfully compressed the schedules from months and years to about ten days. This study aims to investigate how this was done and provide references for future projects.

The study uses qualitative case study techniques to analyze the project practices in two urgent emergency projects. Data were gathered through semi-structured interviews and archival research. During interviews, interviewees were asked to describe the project practices adopted to overcome the challenges and freely share their experiences and knowledge.

The results illustrate that a high degree of schedule compression is achievable through tactful crashing, substitution and overlapping applications. The successful practices heavily rely on the high capacity of participants and necessary organization, management and technology innovations, such as three-level matrix organizational structure, reverse design method, site partition, mock-up room first strategies and prefabricated construction technology. For instance, the reverse design method is one of the most significant innovations to project simplification and accelerate and worthy of promotion for future emergency projects.

The empirical findings are significant as they evoke new thinking and direction for addressing the main challenges of sharp schedule compression and provide valuable references for future emergency projects, including selecting high-capacity contractors and replacing the conventional design methods with reverse design.

Substantial studies indicate that the maximum degree of schedule compression is highly unlikely to exceed 25%, but this study suggests that sharp compression is possible. Although with flaws in its beauty (i.e. compressing schedule at the expense of construction cost and quality), it is also a breakthrough. It provides the building block for future research in this fertile and unexplored area.

This study aims to investigate how contractual vs. informal governance influences the performance of collaborative innovation projects considering their exploitation vs. exploration character.

Data are collected from a sample of 218 companies that have developed innovative projects in collaboration with other organizations. Regression models are estimated to test the hypotheses.

The results indicate that contractual governance is the most effective for co-exploitation projects compared to informal governance. Specialization in either contractual or informal governance is more effective for co-exploration projects.

Developing collaborative innovation projects with other organizations is an alternative for firms to innovate either by exploiting complementary assets or by exploring new opportunities. Thus, the success of the collaborative innovation project is significantly affected by the way the collaboration is governed. On the one hand, for co-exploitation projects, companies should rely on contracts to improve their performance. On the other hand, for co-exploration projects, governance may specialize in either contracts or informal mechanisms to reach higher performance.

Despite previous studies analyzing the effect of contractual or informal governance on the performance of collaborative innovation projects, no research has focused on comparing simultaneously these effects, by using the innovation character of the project of co-exploitation or co-exploration as a moderator. Therefore, this paper explores comparatively the most effective type of governance mechanism for co-exploitation and co-exploration projects.

The estimates by both Russian and foreign authoritative organizations show the signs of the transition from stagnation to moderate growth, and this process should be accounted for by the largest transnational corporations (TNCs) traditionally active in Russia, such as Coca-Cola, Nestle, Adidas, and others. However, despite the optimistic predictions of many analysts, macroeconomic (and geopolitical) situation in the world remains unstable. Russia is aiming at the trajectory of economic growth in the face of continuing pressure from the macroeconomic, foreign policy, and internal institutional factors. In response to this strain, the government has intensified efforts to implement the strategy of import substitution, which objectively affects the interests of TNCs at the Russian markets. The objective process of import substitution creates both challenges and opportunities for TNCs. Problems are connected with a direct displacement of their traditional products and brands due to both administrative restrictions and a change in consumer attitudes and preferences (“Buy Russian” approach gaining momentum). However, the opportunities lie within the participation in the future satiation of demand and fulfilling the consumer expectations during the upcoming revival of the positive economic dynamics. It can generally be noted that the TNCs should integrate into a specific project of import substitution in the postcrisis environment despite the variety of their corporate policies. This relatively new situation for TNCs in the context of general economic and geopolitical instability requires scenario modeling of the possible strategies of TNCs depending on both the overall macroeconomic and political situation in the country, as well as the internal factors affecting various commodity markets in Russia.

This study proposes targeted modernization of the Department of Defense (DoD's) Joint Forces Ammunition Logistics information system by implementing the optimized innovative information technology open architecture design and integrating Radio Frequency Identification Device data technologies and real-time optimization and control mechanisms as the critical technology components of the solution. The innovative information technology, which pursues the focused logistics, will be deployed in 36 months at the estimated cost of $568 million in constant dollars. We estimate that the Systems, Applications, Products (SAP)-based enterprise integration solution that the Army currently pursues will cost another $1.5 billion through the year 2014; however, it is unlikely to deliver the intended technical capabilities.

Developed by Stewart Myers (1984), the pecking order theory has turned out to be a spotlight in the recent trend of shifting from the traditional static trade‐off optimal model to other theories as an effort to look for an explanation of corporate capital structure behaviour. This article proposes a rational justification to the pecking order hypothesis through the establishment of its relationship to the paradox Modigliana‐Miller proposition I. In the process of reasoning to support our justification, we have resorted to various existing theoretical hypothesis including tax‐shelter theory, bankruptcy costs theory, agency theory, signalling theory, and managerial risk aversion theory. Some implications of this rational justification to the pecking order hypothesis are also briefly discussed.

Robotic process automation (RPA) has recently emerged as a technology focusing on the automation of repetitive, frequent, voluminous and rule-based tasks. Despite a few practical examples that document successful RPA deployments in organizations, evidence of its economic benefits has been mostly anecdotal. The purpose of this paper is to present a step-by-step method to RPA investment appraisal and a business case demonstrating how the steps can be applied to practice.

The methodology relies on design science research (DSR). The step-by-step method is a design artefact that builds on the mapping of processes and modelling of the associated costs. Due to the longitudinal nature of capital investments, modelling uses discounted cashflow and present value methods. Empirical grounding characteristic to DSR is achieved by field testing the artefact.

The step-by-step method is comprised of a preparatory step, three modelling steps and a concluding step. The modelling consists of compounding the interest rate, discounting the investment costs and establishing measures for comparison. These steps were applied to seven business processes to be automated by the case company, Estate Blend. The decision to deploy RPA was found to be trivial, not only based on the initial case data, but also based on multiple sensitivity analyses that showed how resistant RPA investments are to changing circumstances.

By following the provided step-by-step method, executives and managers can quantify the costs and benefits of RPA. The developed method enables any organization to directly compare investment alternatives against each other and against the probable status quo where many tasks in organizations are still carried out manually with little to no automation.

The paper addresses a growing new domain in the field of business process management by capitalizing on DSR and modelling-based approaches to RPA investment appraisal.

The coronavirus disease (COVID-19) pandemic has negatively affected project management organisations especially those conducting large construction projects that involve a large number of people, complex supply chains, and lack of experience and preliminary arrangements in managing remote work. This study aims to analyse the impact of COVID-19 on the construction sector and how to minimise the effect of pandemic disruptions.

This study is based on the reviews of relevant reports, articles and semi-structured interviews of the construction experts working in the Pakistan construction industry during the current COVID-19 pandemic. The primary data for this study were collected through semi-structured interviews with the construction experts and analysed them using thematic analysis. A total of 15 semi-structured interviews were conducted in this study.

Through thematic analysis, this study identified approximately 55 initial raw data themes, 15 first-order themes, 11 second-order themes and 4 general dimensions of the impact of COVID-19 on the construction sector. The authors identified working style and behavioural changes, challenges and risks, stakeholders and new directions for the construction sector in the post-pandemic world as the four main dimensions of the effect of the pandemic on the construction sector. Further, least digitalisation, complex cash flow, abundance of labour-intensive methods, diverse stakeholders, and dependencies on foreign expertise, imported material and machineries were identified as the most important reasons for poor resiliency of the construction sector during COVID-19 pandemic in Pakistan.

This study major contributions are: (1) analysing the impact of COVID-19 on the construction sector in relation to Pakistan, (2) discussing new directions for the construction sector and (3) putting in place a set of mitigation measures that will help minimise disruptions in construction-related projects to ensure that set objectives are achieved.