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Teaching in a global classroom, learning in multicultural groups, and undertaking research projects with client companies provide a unique view on problem solving. IBSA, a dynamic network of international oriented business schools, offers a dual master’s degree program with seven, non-competing specializations. Graduates of the IMBA program are well prepared to become future business leaders who understand and can manage the challenges in a technology driven global work environment. Today, there is no easy way for sustainable value creation in a highly competitive market. It is not surprising to learn how much expertise and effort managers have to expend in the search for the optimum business or marketing plan. This is especially true in successful corporate settings where introducing change to optimize opportunities is a very risk taking decision under extreme uncertainties. The research studies presented in this, the first, volume of the IBSA-Studies in Management and Innovation cover three aspects: Standards for implementing project management, identification of lead users for the development of new medical devices in a technology and knowledge driven environment, and the comparison of two low cost carrier business models in two different markets. With a strong focus on application the book is addressed to individuals and companies who are open to new ideas and strategies to achieve competitive advantage. Contents: Alexander A. Eberle A Comparison of PMI and IPMA Approaches: Analysis to Support the Projekt Mnagement Standard and Certification System Selection Anahid Shamsi Nejad Open Innovation. The Lead User Method as a Tool for New Product Development Projects of Medical Devices – Lead User Identification at Johnson & Johnson Medical Anirudh Krishen Koul Strategies for Low Cost Carriers in Multi-Markets of the Asia Pacific Region.