Real Options: A Tool for Managing Technical Risk in a Mine Plan

NPV is a static measure of project value which does not discriminate between levels of internal and external risk in project valuation. Due to current investment project?s characteristics, a much more complex model is needed: one that includes the value of flexibility and the different risk levels associated with variables subject to uncertainty (price, costs, exchange rates, grade and tonnage of the deposits, cut off grade, among many others). Few of these variables present any correlation or can be treated uniformly. In this context, Real Option Valuation (ROV) arose more than a decade ago, as a mainly theoretical model with the potential for simultaneous calculation of the risk associated with such variables. This paper reviews the literature regarding the application of Real Options Valuation in mining, noting the prior focus on external risks, and presents a case study where ROV is applied to quantify risk associated to mine planning.

Cloud Computing Service for Managing Large Medical Image Data-Sets Using Balanced Collaborative Agents

Managing large medical image collections is an increasingly demanding important issue in many hospitals and other medical settings. A huge amount of this information is daily generated, which requires robust and agile systems. In this paper we present a distributed multi-agent system capable of managing very large medical image datasets. In this approach, agents extract low-level information from images and store them in a data structure implemented in a relational database. The data structure can also store semantic information related to images and particular regions. A distinctive aspect of our work is that a single image can be divided so that the resultant sub-images can be stored and managed separately by different agents to improve performance in data accessing and processing. The system also offers the possibility of applying some region-based operations and filters on images, facilitating image classification. These operations can be performed directly on data structures in the database.

Managing Industrial Simulator Visual Databases Using Geographic Information Systems

Geographic Information Systems are developed to handle enormous volumes of data and are equipped with numerous functionalities intended to capture, store, edit, organise, process and analyse or represent the geographically referenced information. On the other hand, industrial simulators for driver training are real-time applications that require a virtual environment, either geospecific, geogeneric or a combination of the two, over which the simulation programs will be run. In the final instance, this environment constitutes a geographic location with its specific characteristics of geometry, appearance, functionality, topography, etc. The set of elements that enables the virtual simulation environment to be created and in which the simulator user can move, is usually called the Visual Database (VDB). The main idea behind the work being developed approaches a topic that is of major interest in the field of industrial training simulators, which is the problem of analysing, structuring and describing the virtual environments to be used in large driving simulators. This paper sets out a methodology that uses the capabilities and benefits of Geographic Information Systems for organising, optimising and managing the visual Database of the simulator and for generally enhancing the quality and performance of the simulator.

Managing software development information in global configuration management activities

Software Configuration Management (SCM) techniques have been considered the entry point to rigorous software engineering, where multiple organizations cooperate in a decentralized mode to save resources, ensure the quality of the diversity of software products, and manage corporate information to get a better return of investment. The incessant trend of Global Software Development (GSD) and the complexity of implementing a correct SCM solution grow not only because of the changing circumstances, but also because of the interactions and the forces related to GSD activities. This paper addresses the role SCM plays in the development of commercial products and systems, and introduces a SCM reference model to describe the relationships between the different technical, organizational, and product concerns any software development company should support in the global market.

An Internet of Things approach for managing smart services provided by wearable devices.

The Internet of Things (IoT) is growing at a fast pace with new devices getting connected all the time. A new emerging group of these devices are the wearable devices, and Wireless Sensor Networks are a good way to integrate them in the IoT concept and bring new experiences to the daily life activities. In this paper we present an everyday life application involving a WSN as the base of a novel context-awareness sports scenario where physiological parameters are measured and sent to the WSN by wearable devices. Applications with several hardware components introduce the problem of heterogeneity in the network. In order to integrate different hardware platforms and to introduce a service-oriented semantic middleware solution into a single application, we propose the use of an Enterprise Service Bus (ESB) as a bridge for guaranteeing interoperability and integration of the different environments, thus introducing a semantic added value needed in the world of IoT-based systems. This approach places all the data acquired (e.g., via Internet data access) at application developers disposal, opening the system to new user applications. The user can then access the data through a wide variety of devices (smartphones, tablets, computers) and Operating Systems (Android, iOS, Windows, Linux, etc.).

UBURYO: open source software for managing microcredits in education

One of the major problems in developing countries is minority access to higher education. Traditional scholarships usually focus on paying tuition fees for bringing brilliant students to developed countries (from where they seldom return). But local grants seldom target the more needy students. We propose a system of student loans to pay tuition fees in exchange for technical work. This appears to be a satisfactory and sustainable solution. We also provide UBURYO (a Kirundi word meaning opportunity). UBURYO is the free open source software, that we have developed, to manage this loan system in a simple, trustworthy, fair and efficient way.

Evaluation of an application for managing microcredits in education

One of the major problems in developing countries is minority access to higher education. Traditional scholarships usually focus on paying eventually tuition fees or bringing brilliant students to develop countries. Additionally, these systems used to be opaque and, consequently, a corruption source. We propose a system of student loans to pay tuition fees in exchange for work. We also provide UBURYO. It is the FOSS, that we have developed, to manage this loan system in a simple, trustworthy, fair and efficient way. We deployed the loan system in the University of Ngozi (UNG, Burundi). A shallow evaluation demonstrates that system sustainability is feasible.

A process for managing interaction between experimenters to get useful similar replications

Context: A replication is the repetition of an experiment. Several efforts have been made to adopt replication as a common practice in software engineering. There are different types of replications, depending on their purpose. Similar replications keep the experimental conditions as alike as possible to the original ones. External similar replications, where the replicating experimenters are not the same people as the original experimenters, have been a stumbling block. Several attempts at combining the results of replications have resulted in failure. Software engineering does not appear to be well suited to such replications, because it works with complex experimentally immature contexts. Software engineering settings have a large number of variables, and the role that many of them play is unknown. A successful (or useful) similar replication helps to better understand the phenomenon under study by verifying results and/or identifying contextual variables that could influence (or not) the results, through the combination of experimental results. Objective: To be able to get successful similar replications, there needs to be interaction between original and replicating experimenters. In this paper, we propose an interaction process for achieving successful similar replications. Method: This process consists of: an adaptation meeting, where experimenters tailor the experiment to the new setting; querying, to settle occasional inquiries while the experiment is being run; and a combination meeting, where experimenters meet to discuss the combination of replication outcomes with previous results. To check its effectiveness, the process has been tested on three different replications of the same experiment. Results: The proposed interaction process has helped to identify new contextual variables that could potentially influence (or not) the experimental results in the three replications run. Additionally, the interaction process has helped to uncover certain problems and deviations that occurred during some of the replications that we would have not been aware of otherwise. Conclusions: There are signs that suggest that it is possible to get successful similar replications in soft- ware engineering experimentation, when there is appropriate interaction among experimenters.

Managing drought economic effects through insurance schemes based on local water availability.

In many arid or semi-arid Mediterranean regions, agriculture is dependent on irrigation. When hydrological drought phenomena occur, farmers suffer from water shortages, incurring important economic losses. Yet, there is not agricultural insurance available for lack of irrigation water. This work attempts to evaluate hydrological drought risk and its economic impact on crop production in order to provide the basis for the design of drought insurance for irrigated arable crops. With this objective a model that relates water availability with expected yields is developed. Crop water requirements are calculated from evapotranspiration, effective rainfall and soil water balance. FAO?s methodology and AquaCrop software have been used to establish the relationship between water allocations and crop yields. The analysis is applied to the irrigation zone ?Riegos de Bardenas?, which is located in the Ebro river basin, northeast Spain, to the main arable crops in the area. Results show the fair premiums of different hydrological drought insurance products. Whole-farm insurance or irrigation district insurance should be preferable to crop specific insurance due to the drought management strategies used by farmers.

Managing team learning in a Spanish commercial bank

Purpose – The purpose of this paper is to analyze how team management affects team-learning activities. Design/methodology/approach – The authors empirically study 68 teams as they operate in the natural business context of a major Spanish bank. Quantitative research utilizing multiple regression analyses is used to test hypotheses. Findings – The leadership behaviour (consideration, initiation of structure) displayed by the team leader plays a key role in facilitating team learning. Team leader behaviour characterised by consideration and in particular by initiation of structure are both positively related to team-learning activities. Cross-training of team members also contributes to team-learning behaviour. Research limitations/implications – A specific setting may limit the generalizability of findings. Further research may accordingly investigate to what extent these results can be generalized to other settings or other aspects of team learning. Practical implications – The leadership style adopted by the team leader, as well as cross-training of members, affect team-learning activities. These results link leadership theory to collective learning in teams and organizations, and suggest ways leaders can contribute to improved learning. Originality/value – The study provides new insight into how management of teams facilitates team-learning activities. While consideration is somewhat related to team learning, initiation of structure as well as cross-training appear as key variables.

Concept of operations for ATM by managing uncertainty through multiple metering points

This paper presents an operational concept for Air Traffic Management, and in particular arrival management, in which aircraft are permitted to operate in a manner consistent with current optimal aircraft operating techniques. The proposed concept allows aircraft to descend in the fuel efficient path managed mode and with arrival time not actively controlled. It will be demonstrated how the associated uncertainty in the time dimension of the trajectory can be managed through the application of multiple metering points strategically chosen along the trajectory. The proposed concept does not make assumptions on aircraft equipage (e.g. time of arrival control), but aims at handling mixed-equipage scenarios that most likely will remain far into the next decade and arguably beyond.

Managing Soil Organic Carbon: A Farm Perspective

Farming practices that lead to declining returns and inputs of carbon to soils pose a threat to key soil functions. The EU FP 7 interdisciplinary project Smart SOIL is using scientific testing and modeling to identify management practices that can optimize soil carbon storage and crop productivity. A consultation with advisors and policymakers in six European case study regions seeks to identify barriers to, and incentives for, uptake of such practices. Results from preliminary interviews are reported. Overall advisor and farmer awareness of management practices specifically directed towards soil carbon. is low. Most production- related decisions are taken in the short term, but managing soil carbon needs a long- term approach. Key barriers to uptake of practices include: perceived scientifi c uncertainty about the effi cacy of practices; lack of real life ?best practice? examples to show farmers; diffi culty in demonstrating the positive effects of soil carbon management practices and economic benefi ts over a long time scale; and advisors being unable to provide suitable advice due to inadequate information or training. Most farmers are unconvinced of the economic benefi ts of practices for managing soil carbon. Incentives are therefore needed, either as subsidies or as evidence of the cost effectiveness of practices. All new measures and advice should be integrated into existing programmes to avoid a fragmented policy approach.

The optimal allocation rule and the water market as the most effective tools of managing water shortage in an irrigation district

The conference program will cover all areas of environmental and resource economics, ranging from topics prevailing in the general debate, such as climate change, energy sources, water management and ecosystem services evaluation, to more specialized subjects such as biodiversity conservation or persistent organic pollutants. The congress will be held on the Faculty of Economics of the University of Girona, located in Montilivi, a city quarter situated just few minutes from the city center, conveniently connected by bus lines L8 and L11.

FIWARE Lab: managing resources and services in a cloud federation supporting future internet applications

Real-world experimentation facilities accelerate the development of Future Internet technologies and services, advance the market for smart infrastructures, and increase the effectiveness of business processes through the Internet. The federation of facilities fosters the experimentation and innovation with larger and more powerful environment, increases the number and variety of the offered services and brings forth possibilities for new experimentation scenarios. This paper introduces a management solution for cloud federation that automates service provisioning to the largest possible extent, relieves the developers from time-consuming configuration settings, and caters for real-time information of all information related to the whole lifecycle of the provisioned services. This is achieved by proposing solutions to achieve the seamless deployment of services across the federation and ability of services to span across different infrastructures of the federation, as well as monitoring of the resources and data which can be aggregated with a common structure, offered as an open ecosystem for innovation at the developers' disposal. This solution consists of several federation management tools and components that are part of the work on Cloud Federation conducted within XIFI project to build the federation of cloud infrastructures for the Future Internet Lab (FIWARE Lab). We present the design and implementation of the solution-concerned FIWARE Lab management tools and components that are deployed within a federation of 17 cloud infrastructures distributed across Europe.

Whole system approaches for managing land-use change to deliver multiple benefits from biodiversity in tropical forest landcapes

Presentamos en una sesión dedicada al proyecto ROBIN: Session No. 101: Whole system approaches for managing land-use change to deliver multiple benefits from biodiversity in tropical forest landcapes (Chairs: Terry Parr, Michael Schmidt, Kirsten Thonicke - Theme 3)