Outcome of the Professional Exchange Sessions

• Introduction
• Outcome

Introduction
The Professional Exchange Sessions facilitated a discussion among participants with the aim to:

• exchange ideas and experience, and identify topics and challenges for future research and activities
• establish networks for future cooperation and motivate participants to provide papers or other inputs to the proceedings from the symposium

Five topics, A – E, were discussed in parallel sessions of 45 minutes. The sessions were repeated successively five times so that all participants could cover all topics, and at the same time have an opportunity to exchange ideas at close range with all participants in the conference. The topics were:

A – Concept evaluation (how to identify the best project concept)
Moderator: Paul Torgersen, Metier
Secretary: Olav Torp, NTNU/Concept
The groups were asked to discuss contemporary issues and state-of-the-art regarding early identification and evaluation of possible project concepts with the aim to make sure that the best concept is chosen. Some issues:

• When to evaluate alternative concepts
• Feasible methodology and relevant parameters
• Conflicts with other analyses (eg. impact analyses)
• Stakeholder conflicts in relation to alternative concepts
• Selection of evaluators
• Etc.

The groups were also asked to draw conclusions and recommendations, and in particular focus on:

• Topics and challenges in future research
• Building networks: individuals, institutions
• Volunteers for future activities, inputs to proceedings, etc.

B – Decision making (preparing the best basis for decisions)
Moderator: Stein Vegar Larsen, Holteprosjekt
Secretary: Ole Jonny Klakegg, NTNU/Concept
The groups were asked to discuss contemporary issues and state-of-the-art regarding front-end analysis and decision-making in major projects to ensure a sound basis for decisions and avoid that projects are initiated for instance as the result of political initiative without a thorough review of the feasibility. Some issues:

• The decision-making process: needs and requirements
• The analytic process: needs and requirements
• Relationship between analysis and decision making
• Ensuring a feasible and realistic project design
• Decision-making documents: requirements
• Etc.

C – Uncertainty analysis (prior to parliamentary approval)
Moderator: Kjell Austeng, NTNU
Secretary: Glenn Steenberg, NTNU/Concept
The groups were asked to discuss contemporary issues and state-of-the-art regarding the final analysis of uncertainties, anticipated costs, etc. in the front-end phase, to ensure a realistic budget and effective risk management when the project is implemented. Some issues:

• How comprehensive should the analysis be?
• Feasible methodology and relevant parameters
• Who should commission the analysis
• Selection of analysts
• Should alternative concepts be included in the analysis?
• Etc.

D – Incentives & Contracts (between different stakeholders)
Moderator (Day 1): Dag Morten Dalen, The Ragnar Frisch Centre for Economic Research
Moderator (Day 2): Knut Samset, NTNU/Concept
Secretary: Ola Lædre, NTNU/Concept
The groups were asked to discuss contemporary issues and state-of-the-art regarding distribution of incentives and risk among main stakeholders, to ensure smooth operation when the project is designed and implemented. Some issues:

• Contract regimes: commissioners vs. the contracting party
• Choice of contracts and transfer of risks
• Incentives and choice of contracts
• Incentives in the public administration at various levels
• Etc.

E – Portfolio management (managing clusters of projects)
Moderator: Stein Berntsen, Dovre international
Secretary: Ole-Petter Holmvassdal, NTNU/Concept
The groups were asked to discuss contemporary issues and state-of-the-art regarding selection and financial management of portfolios of individual projects, in order to improve selection and management of project, and exploit the opportunities in budgeting based in stochastic cost estimates. Some issues:

• Criteria for portfolio selection
• Estimation of reserves in a portfolio of projects
• Incentives to generate reserves
• Authority to draw on unused reserves
• Management of systematic and unsystematic risk
• Etc.

Outcome of the sessions
Click to view highlights, conclusions and recommendations from the sessions.
The outcome from the Professional Exchange Sessions is summarized in a separate 34 pages long PDF-document where each of the five topics, A-E, outcomes are presented. Ideas for Future Research and Network Resources are also included.