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At any point in time, most companies have a myriad of internal development initiatives in progress, dealing with a broad spectrum of different activities with respect to time horizon, functional areas involved, and actors with different roles and interests.

This chapter sets forth to analyse how to manage this myriad of projects. Two ways of bringing several projects into a meaningful context will be presented. In the first way, a plurality of simultaneous development initiatives is organized in portfolios based on their mutual interdependencies. Four approaches to prioritizing projects in a portfolio will be discussed.

In the second way, a development program is formulated in which a strategic effort should be implemented by means of a number of different projects.

The last section will focus on company development under unpredictable and complex conditions, and we will present a framework for Agile company development.

Portfolios of temporary organisations, particularly portfolios of R&D projects with different project partners, are a common yet understudied phenomenon. We know that these portfolios suffer from tensions inherent in project portfolio ambidexterity (e.g. portfolios balancing R&D projects with new and recurrent partners), yet our understanding of what might lessen these tensions remains limited. This study introduces the idea of project portfolio maturity and theorises how it can mitigate the negative effects of ambidextrous project portfolios. We test our hypotheses by combining proprietary survey and archival data on 136 R&D project portfolios in the German biotechnology industry covering project partnerships with both new and recurrent partners. Our results show that ambidextrous project portfolios hamper firm performance and that portfolio maturity mitigates these negative effects. By introducing a new perspective on project portfolios that accounts for overlooked temporal dimensions, this study provides a new contingency that has the potential to ease the tensions that result from projects with new and recurrent partners. We thereby add to the literatures on temporary organising, project portfolios, and ambidexterity.

The purpose of this conceptual chapter is to highlight the disadvantages of project management to help the reader put project management work in context.

Different project management methodologies such as waterfall project management, Agile project management, Six Sigma, and Kanban are discussed in terms of overall problems and then specific problems with each methodology. Managing multiple projects and the problems with program and portfolio management are discussed.

The findings are that most formalized project management methods are ill-suited to most library-related situations. However, some aspects of project management are well suited to any project, at any size, and those are discussed.

The value of this paper is that readers will get a strong understanding of project management methodologies in context and a clear idea of the strengths and weaknesses of each.

The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales, 2014).

This structured literature search covers papers published in 23 journals in IOM in the period 1990–2014.

The search yielded a sample of 208 unique papers with 275 results (one paper could refer to multiple cost management methods). The top 3 methods are modular design, component commonality, and product platforms, with 115 results (42%) together. In the MA literature, these three methods accounted for 29%, but target costing was the most researched cost management method by far (26%). Simulation is the most frequently used research method in the IOM literature, whereas this was averagely used in the MA literature; qualitative studies were the most frequently used research method in the MA literature, whereas this was averagely used in the IOM literature. We found a lot of papers presenting practical approaches or decision models as a further development of a particular cost management method, which is a clear difference from the MA literature.

This review focused on the same cost management methods, and future research could also consider other cost management methods which are likely to be more important in the IOM literature compared to the MA literature. Future research could also investigate innovative cost management practices in more detail through longitudinal case studies.

This review of research on methods for cost management published outside the MA literature provides an overview for MA researchers. It highlights key differences between both literatures in their research of the same cost management methods.

Pre-project planning can be an important process for libraries managing large project portfolios. The process allows anyone within an organization to put forth a potential project, and it clearly articulates the process both for developing an idea into a project and for approving and prioritizing projects.

Drawing from experience, the authors introduce a preliminary step for proposing projects before the project management principles are applied.

Benefits of the process include: promoting stakeholder input; preventing organizational overwhelm; documenting the library’s project portfolio; and improving communication, transparency, and decision-making. Libraries implementing this process should define a project for their organization, build buy-in among those involved, and ensure that approved projects advance library goals.

This chapter is largely practical and derived from experience. It provides an in-depth look at pre-project planning, a concept largely ignored in the project management literature.

The purpose of this paper is to describe the interactions between accounting and marketing activities in a Taiwanese telecommunication firm by demonstrating the dramatic impact that improved costing methods had on the firm’s customer portfolio management activities and consequently on the firm’s bottom line.

The paper presents a case study of a firm in the highly competitive telecommunications industry in Taiwan. The case study was constructed by interviewing key individuals within the organization over an extended period and supplementing those reports with an analysis of internal company documents.

The firm dramatically increased profitability through the integration of activity-based costing into their customer portfolio framework requiring marketing and accounting functions to work closely together. In this rapidly evolving market, cost allocation and customer portfolio management are indispensable. Identifying accurate costs and keeping key customers is a critical issue for the case company. While theoretically the approach is simple, in practice considerable hurdles needed to be overcome.

While considerable literature suggests that customer profitability drives the management of an organization’s customer portfolio, critical to the success of such an endeavor is the accurate calculation and allocation of costs to individual customers. As an interdisciplinary study, this paper provides insights for both accounting and marketing highlighting their reliance on each other in a sound firm. The results of this paper will serve as a supplement to past customer portfolio management research as well as a reference for any firm seeking to enhance their approach to portfolio management.

The first part of the chapter discusses the premise that “wearing many hats” impedes a professional’s ability to get successful project results in a library setting. Offering their own experience as an example, the authors explore the issues that led to the implementation of project manager as a full-time position at Hesburgh Libraries. Part two of the chapter offers practical suggestions for incorporating a project management office (PMO) into a library setting. It includes the definition of the virtual PMO model, how this model fits into the organizational structure, and why this model might be preferred in a library environment. It includes descriptions of basic project management tools, techniques, and methods as well as graphic representation of division and overlap of responsibilities.

The methodology of this chapter is based on a review of the literature as well as a description of the authors’ experience with implementing project management at their institution.

Project management is a profession that requires dedicated personnel and resources. Actively involved project sponsors and dedicated project managers play a critical role in assuring project success. Basic project management tools, techniques, and approaches can be successfully implemented in libraries.

Full-time project management in libraries is still a novel concept. Readers will benefit from Hesburgh Libraries’ implementation of new methodology and learn about tools and approaches to introduce project management in their organizations.

How do organizations respond to negative feedback regarding their innovation activities? In this chapter, the authors reconcile contradictory predictions stemming from behavioral learning and from the escalation of commitment (EoC) perspectives regarding persistence under negative performance feedback. The authors core argument suggests that the seemingly contradictory psychological processes indicated by these two perspectives occur simultaneously in decision makers but that the design of organizational roles and reward systems affects their prevalence in decision-making tasks. Specifically, the authors argue that for decision makers responsible for an individual project, responses given to negative performance feedback regarding a project are dominated by self-justification and loss-avoidance mechanisms predicted by the EoC literature, while for decision makers responsible for a portfolio of projects, responses to negative performance regarding a project are dominated by an under-sampling of poorly performing alternatives that behavioral learning theory predicts. In addition to assigning decision-making authority to different organizational roles, organizational designers shape the strength of these mechanisms through the design of reward systems and specifically by setting more or less ambiguous goals, aspiration levels, time horizons of incentives provided, and levels of failure tolerance.