Executive Summary Predictability in today’s capital-intensive markets is a challenge. Project cost overruns are one of the areas that are out of control and contributing to this dynamic. CAPEX planning, returns on invested capital and cash flow are all impacted negatively by these inefficiencies. Tweaking the project execution process can result in incremental improvement, but does not really m...

Use of simulation for capacity analysis is an upcoming field in Biotech industry. This paper discusses an application of discrete event simulation in the multi-product and multi-resource Filling Freeze Drying facility of Bayer Corporation’s Berkeley site. The SIGMA simulation model was used to estimate the current and future throughput capacity by taking into account current operations and vari...

Industrial buyers of capital facilities have experienced and continue to experience pressure to reduce facility design and construction lead time. This pressure arises both internally (due to successes in manufacturing lead time reductions) and externally (due to competitive forces including narrowing product delivery windows). This paper presents a case study detailing one owner’s efforts to r...

In sustainable development projects, as well as other types of projects, knowledge transfer is important for the organisations managing the project. Nevertheless, knowledge transfer among employees does not happen automatically and it has been found that the lack of social networks and the lack of trust among employees are the major barriers to effective knowledge transfer. Social network analy...

introduction the historical experience of development process in developed countries revealed that rural development is a basic requirement for national development and that it should be considered and given high priority. accordingly in iran, the government also paid more attention to rural development in recent years. in this regard, different methods and approaches were implemented due to so...

Current theories of capital structure have difficulty explaining the aspects of financing behavior we document. In contrast to the tradeoff theory, seasoned equity offers frequently move firms away from their target leverage ratios. At odds with the pecking-order theory, SEO firms typically are financially healthy companies with low leverage, unused debt capacity and substantial cash balances. ...

Pay-as-you-go (pay-go or cash) and pay-as-you-use (pay-use or debt) are two mechanisms to finance capital projects. While pay-go faces multiple constraints, pay-use smoothes outlays, stabilizes tax rates, and improves inter-generational equity. Thus, pay-use has dominated infrastructure financing for decades. In recent years, there has been revived academic interest in pay-go as an alternate fi...

one of the reasons that companies avoid paying their taxes is that they choose to use debts for their funding. in other words, tax saving, an activity of companies to avoid taxpaying, can be used to finance corporate projects. furthermore, since institutional owners are more inclined to supervise, they may shrink managerial behaviors to avoid taxpaying. in this study, institutional owners’ supe...

BACKGROUND Despite decades of work and billions of dollars of investments in laboratory and pilot plant projects, commercial production of cellulosic ethanol is only now beginning to emerge. Because of: (1)high technical risk coupled with; (2) high capital investment cost relative to ethanol product value, investors have not been able to justify moving forward with large scale projects on woody...

We study three contractual arrangements – co-development, licensing, and co-development with opt-out options – for the joint development of new products between a small and financially constrained innovator firm and a large technology company, as in the case of a biotech innovator and a major pharma company. We formulate our arguments in the context of a two-stage model, characterized by techni...