One can interpret ELP as a short-term consulting project taken by students in groups of 3-4 to help companies solve pressing problems across functions like customer acquisition, expansion, operations, supply chains amongst others. It is more strategic in nature, with companies executing the plan internally post approvals.
The bidding process at ISB is extremely transparent and easy with information like winning bids, maximum seats available and number of students competing for a particular course/exchange university being visible to all participating students. This enables students to make an informed decision whether or not to continue fighting. While there is only one bidding round for international exchange, there are 3 rounds of bidding for elective selection.
The 12-month program requires a successful completion of 32 credits to graduate across its 8 terms (typically of 5-weeks each), where-in students were traditionally required to complete 4 credits in each of the first 4 terms and then choose to take on between 3-5 credits in each of the remaining elective terms.