Managing international projects

Today´s business world is highly international. Communications and travel technologies allow us to work actively with people and companies in locations around the world as easily as with those who are collocated. Because of this many companies have presence in multiple countries, and many, many projects are international. An international project is one in which some of the team members are located in at least one country that is different from that of the project manager. The project stakeholders are usually also located in multiple countries. Does the management of in international project require any different skills, methods or techniques than managing local projects?