Creating risk measurement model to project portfolio management in construction company

This thesis was carried out as a case study of a company YIT in order to clarify the sev-erest risks for the company and to build a method for project portfolio evaluation. The target organization creates new living environment by constructing residential buildings, business premises, infrastructure and entire areas worth for EUR 1.9 billion in the year 2013. Company has noted project portfolio management needs more information about the structure of project portfolio and possible influences of market shock situation. With interviews have been evaluated risks with biggest influence and most appropriate metrics to examine. The major risks for the company were evaluated by interviewing the executive staff. At the same time, the most appropriate risk metrics were considered. At the moment sales risk was estimated to have biggest impact on company‟s business. Therefore project port-folio evaluation model was created and three different scenarios for company‟s future were created in order to identify the scale of possible market shock situation. The created model is tested with public and descriptive figures of YIT in a one-year-long market shock and the impact on different metrics was evaluated. Study was conducted using con-structive research methodology. Results indicate that company has notable sales risk in certain sections of business portfolio.

Co-creating value with customers as a new approach of entering new market

Global trends associated with development of information technology, globalization, industrial and economic changes are influencing on company and customer domains and thus transforming company-customer relationship. The company centric paradigm with a strong product focus shifts to a customer oriented one with a strong emphasis on customer collaboration. As a result, the customer role changes from a passive observer to an active player. Moreover, global trends contribute to transformation of competitive environment making it tougher and simplifying an access to resources previously considered as unique. All that factors push the companies towards cooperation with customers in order to identify unarticulated needs and finding the best possible solution to existing customer problems. The Master’s Thesis is done for Outotec (Lappeenranta) which considers extension of dewatering business in Russian coal market. Research aims to identify key features of coal preparation and dewatering of fine coal and tailings in Russian preparation plants; analyze the state of Russian coal market and evaluate market potential for Outotec dewatering solutions. The study has a qualitative nature and implements an action research methodology that involves both creation of knowledge and introduction of changes into the system. The base for taking actions is formed by theoretical framework that targets on describing company - customer interaction and has selected co-creation as the most appropriate method of customer involvement. The integration of co-creation approach into an action research cycle allows not only fulfilling the research objectives but also facilitates organizational learning and intraorganizational collaboration, assists in establishing customer contacts and making the first steps into the market, bringing new joint projects to the company and opening real business opportunities.

Controlling and Assessment Indirect Spend – Case Study from Beverage Industry

Over the past decades, companies’ interest in controlling indirect sourcing process has increased. New indirect procurement strategies developed for the companies are needed in order to manage their indirect costs. New cost management strategies allow companies to improve their core competences. The research methodology and used in this thesis is qualitative. The theory is based on scientific publications. Empirical data given by the case organization, and was collected in the company’s own systems and in project steering meetings. The purpose of the study was to select a new electronic system for the company and give options for the company to reduce case organization’s indirect costs. The result showed that the most effective indirect cost management strategy was adopting a new electronic procurement system.

Adventures of Ludom: a Videogame Geneontology

Within the last few decades, the videogame has become an important media, economic, and cultural phenomenon. Along with the phenomenon’s proliferation the aspects that constitute its identity have become more and more challenging to determine, however. The persistent surfacing of novel ludic forms continues to expand the conceptual range of ‘games’ and ‘videogames,’ which has already lead to anxious generalizations within academic as well as popular discourses. Such generalizations make it increasingly difficult to comprehend how the instances of this phenomenon actually work, which in turn generates pragmatic problems: the lack of an applicable identification of the videogame hinders its study, play, and everyday conceptualization. To counteract these problems this dissertation establishes a geneontological research methodology that enables the identification of the videogame in relation to its cultural surroundings. Videogames are theorized as ‘games,’ ‘puzzles,’ ‘stories,’ and ‘aesthetic artifacts’ (or ‘artworks’), which produces a geneontological sequence of the videogame as a singular species of culture, Artefactum ludus ludus, or ludom for short. According to this sequence, the videogame’s position as a ‘game’ in the historicized evolution of culture is mainly metaphorical, while at the same time its artifactuality, dynamic system structure, time-critical strategic input requirements and aporetically rhematic aesthetics allow it to be discovered as a conceptually stable but empirically transient uniexistential phenomenon that currently thrivesbut may soon die out.

A systematic mapping study on technical debt definition

The goal of this study was to explore and understand the definition of technical debt. Technical debt refers to situation in a software development, where shortcuts or workarounds are taken in technical decision. However, the original definition has been applied to other parts of software development and it is currently difficult to define technical debt. We used mapping study process as a research methodology to collect literature related to the research topic. We collected 159 papers that referred to original definition of technical debt, which were retrieved from scientific literature databases to conduct the search process. We retrieved 107 definitions that were split into keywords. The keyword map is one of the main results of this work. Apart from that, resulting synonyms and different types of technical debt were analyzed and added to the map as branches. Overall, 33 keywords or phrases, 6 synonyms and 17 types of technical debt were distinguished.

Entry Modes of Finnish Food Enterprises in Chinese Market

China’s phenomenal economic growth and social development have brought along interesting opportunities for Finnish companies. One intriguing sector offering significant growth potential is the food industry. Due to the local food safety issues, rising disposable income level and changing consumer habits, the demand for foreign food is increasing. Finnish food companies have much to offer in terms of high quality, food safety in production, technological development and innovation. The purpose of this study is to examine how the Finnish food enterprises choose their entry modes in the Chinese market. This study increases understanding of entry modes the Finnish companies can use to successfully enter the unpredictable market of China in the food industry context. The study examines the industry specific challenges and the possible solutions to them. Qualitative research is selected as research methodology for this study because the intention is to understand the reasons behind the Finnish food enterprises’ entry mode choices in the Chinese market. The study is conducted as a qualitative case analysis. Six Finnish case companies operating in the food industry were interviewed. The results of the research indicate that most of the food industry companies use exporting as their entry mode to China; only one case company used an investment mode. This study illustrates the significance of the factors related to company’s background, mode concerns and Chinese market influences in the entry mode choice.

Performance measurement model for projects from a strategic management perspective

This research studied the project performance measurement from the perspective of strategic management. The objective was to find a generic model for project performance measurement that emphasizes strategy and decision making. Research followed the guidelines of a constructive research methodology. As a result, the study suggests a model that measures projects with multiple meters during and after projects. Measurement after the project is suggested to be linked to the strategic performance measures of a company. The measurement should be conducted with centralized project portfolio management e.g. using the project management office in the organization. Metrics, after the project, measure the project’s actual benefit realization. During the project, the metrics are universal and they measure the accomplished objectives relation to costs, schedule and internal resource usage. Outcomes of these measures should be forecasted by using qualitative or stochastic methods. Solid theoretical background for the model was found from the literature that covers the subjects of performance measurement, projects and uncertainty. The study states that the model can be implemented in companies. This statement is supported by empirical evidence from a single case study. The gathering of empiric evidence about the actual usefulness of the model in companies is left to be done by the evaluative research in the future.

Yrittäjän poistuminen – yrittäjän yritystoiminnasta poistumisen suunnittelu

Tämän tutkimuksen tavoitteena oli laadullisia menetelmiä käyttäen lisätä ymmärrystä yrittäjän poistumisen ilmiöstä. Yrittäjän näkökulmasta tutkimuksessa tarkastellaan poistumiseen suhtautumista ja sen suunnitteluun ja toteutukseen vaikuttavia yrittäjän sisäisiä ja ulkoisia tekijöitä. Tutkimuksen aineisto kerättiin Lahden lähialueen yrittäjiltä käyttäen teemahaastattelun menetelmää. Aineiston analyysin menetelmänä oli teemoittelu. Psykologista omistajuutta sovellettiin tutkimuksen viitekehyksenä. Tutkimuksen tuloksena havaittiin yrittäjien suunnittelevan poistumistaan kahdessa vaiheessa, poistuen ensin yrittäjän roolista ja vasta määräämättömän ajan jälkeen kokonaan yrityksen toiminnasta ja sen tukijan roolista. Toimintatapa helpottaa yrittäjän psykologisesta omistajuudesta ja identiteetin muutoksesta johtuvaa luopumisen vaikeutta. Ulkoisista poistumiseen vaikuttavista tekijöistä tutkimuksessa nostetaan esille perheyritysten perintöveroon liitetyt ennakkokäsitykset, jotka voivat vaikuttaa poistumisen lykkäämiseen. Psykologisen omistajuuden käsite ja tutkimuksessa havaittu poistumiseen liitetty tabu selittävät osittain yrityksen ostajan löytämisen vaikeutta ja lopettavien yrittäjien määrää Suomessa. Tutkimuksen tulokset ovat merkittäviä yrittäjyyttä ja omistajanvaihdoksia edistävien toimijoiden kannalta.

Improving productivity by developing knowledge management practices for a consulting company

The objective of the research was to identify knowledge conversion states in consultancy sales and delivery processes for the company’s one business unit, to know where to store certain types of information and knowledge, and to create best practices for the company’s knowledge management activities in the selected business processes. The used research methodology was action research. The current business processes were analyzed by interviewing people involved in them. The results were documented and catego- rized, and based on them the target states of the processes were developed. Knowledge man- agement activities were integrated to the business processes. The main findings of the research were that roles and responsibilities in the processes were not clear to people, information systems did not fully support individuals and time was wasted searching for information and knowledge. There were also many variations of how the processes actually realized, which affected the overall quality of the process. The conclusions of the research were that knowledge management activities should be high- lighted in businesses where knowledge workers are the main assets of the company. Knowledge management practices can be supported by company culture, leadership and in- formation systems. However, one main factor is each individual’s willingness to share knowledge. By integrating knowledge management activities to business processes and hav- ing information systems supporting knowledge management, individual productivity can be improved.

A software engineering approach to distributed systems for composite modeling

The goal of this thesis is to define and validate a software engineering approach for the development of a distributed system for the modeling of composite materials, based on the analysis of various existing software development methods. We reviewed the main features of: (1) software engineering methodologies; (2) distributed system characteristics and their effect on software development; (3) composite materials modeling activities and the requirements for the software development. Using the design science as a research methodology, the distributed system for creating models of composite materials is created and evaluated. Empirical experiments which we conducted showed good convergence of modeled and real processes. During the study, we paid attention to the matter of complexity and importance of distributed system and a deep understanding of modern software engineering methods and tools.

Development of Project Logistics in Engineering, Procurement and Construction Projects

The aim of this Master’s Thesis is to develop project logistics functions in large scale en-gineering, procurement and construction projects. The background of the research topic is compounded from two separate subjects; OPAL Program and case study of an actual EPC project. The purpose is to examine Project Logistics process in accordance with OPAL Program as well as logistics process in focus EPC project. Both entities are researched by using the case study research methodology. Logistics process of the focus EPC project is described as well as presented and in addi-tion, logistics related findings and observations are introduced. Significant findings and observations are found from logistics costs as well as shipment volume estimations in the early phase of the focus ECP project. A notable finding is also that because goods were transported as readily assembled as possible it caused expensive oversized cargo deliveries. From findings and observation of the focus EPC project it can be derived that logistics has to be involved in the early sales phase in order to receive more accurate logistics cost esti-mations for project deliveries. It is also noticed that in order to obtain savings in logistics costs, oversized deliveries must be avoided.

Deviations of Governance In IT Multi-Sourcing: A Case Study

IT outsourcing (ITO) refers to the shift of IT/IS activities from internal to external of an organization. In prior research, the governance of ITO is recognized with persistent strategic importance for practice, because it is tightly related to ITO success. Under the rapid transformation of global market, the evolving practice of ITO requires updated knowledge on effective governance. However, research on ITO governance is still under developed due to the lack of integrated theoretical frameworks and the variety of empirical settings besides dyadic client-vendor relationships. Especially, as multi-sourcing has become an increasingly common practice in ITO, its new governance challenges must be attended by both ITO researchers and practitioners. To address this research gap, this study aims to understand multi-sourcing governance with an integrated theoretical framework incorporating both governance structure and governance mechanisms. The focus is on the emerging deviations among formal, perceived and practiced governance. With an interpretive perspective, a single case study is conducted with mixed methods of Social Network Analysis (SNA) and qualitative inquiries. The empirical setting embraces one client firm and its two IT suppliers for IT infrastructure services. The empirical material is analyzed at three levels: within one supplier firm, between the client and one supplier, and among all three firms. Empirical evidences, at all levels, illustrate various deviations in governance mechanisms, with which emerging governance structures are shaped. This dissertation contributes to the understanding of ITO governance in three domains: the governance of ITO in general, the governance of multi-sourcing in particular, and research methodology. For ITO governance in general, this study has identified two research strands of governance structure and governance mechanisms, and integrated both concepts under a unified framework. The composition of four research papers contributes to multi-sourcing research by illustrating the benefits of zooming in and out across the multilateral relationships with different aspects and scopes. Methodologically, the viability and benefit of mixed-method is illustrated and confirmed for both researchers and practitioners.

Investigation of the fatigue performance of welded duplex stainless steel

Diplomityössä tutkitaan hitsatun duplex-teräksen, laatu: EN 1.4462 (Outokumpu laatu 2205) väsymislujuutta. Tutkimusmetodologia noudattaa sekä kokeellisia että laskennallisia menetelmiä. Kokeelliset menetelmät sisältävät hitsatun teräksen väsytystestaukset laboratoriossa, hitsausten jälkikäsittelyt (HiFIT) sekä perusaineelle ja hitseille tehtävät metallurgiset tutkimukset. Väsytyskokeista saatavia tuloksia verrataan kansainvälisen hitsausinstituutin (IIW) vahvistamiin rakennekohtaisiin standardeihin sekä kirjallisuudessa esiintyviin tutkimustuloksiin. Laskennalliset menetelmät sisältävät vertailulaskelmia tehollisen lovijännityksen (ENS) menetelmää hyödyntäen. Tehollisen lovijännityksen menetelmässä liitoksissa vaikuttavat teholliset lovijännitykset selvitetään elementtimenetelmän (FEM) avulla. Tulokset vahvistavat, että hitsauksella ja hitsausten jälkikäsittelyllä on suuri merkitys rakenteen kestoikään. Suurin osa väsytyskokeiden tuloksista osoitti parempia väsymiskestävyyden arvoja kuin rakennekohtaiset standardit, mutta liitosten liitosvirheiden todettiin heikentävän väsytyskestävyyttä. Jälkikäsittelyiden todettiin parantavan liitosten väsymiskestävyyden tuloksia ja todettiin tulosten olevan hyödynnettävissä mitoituksessa.

Toimintolaskennan hyödyntäminen prosessijohtamisen tukena julkisen sektorin terveydenhuolto-organisaatiossa

Tämän tutkielman tavoitteena on tutkia toimintolaskennan ja toimintojohtamisen käyttöä sekä hyödyntämistä prosessijohtamisen tukena. Työssä keskitytään tarkastelemaan ilmiötä julkisen sektorin terveydenhuoltoalalla. Tutkielmassa sovelletaan kvalitatiivista eli laadullista tutkimusmenetelmää. Tutkielma koostuu kahdesta osasta. Teoriaosassa käsitellään alan kirjallisuutta tieteellisten artikkelien valossa. Empiriaosassa selvitettiin tutkittavan organisaation kustannus- ja toimintolaskennan hyödyntämisestä prosessijohtamisen tukena. Aineistonkeruu empiirisen osion osalta toteutettiin avoimina ja strukturoimattomina haastatteluina. Tutkielman tuloksina muodostui ymmärrys organisaation kustannuslaskennan nykytilanteesta ja hyödyntämismahdollisuuksista prosessienkehittämisessä. Kustannus- ja toimintolaskentaa hyödynnetään nykyisin pääasiassa hinnoittelupäätöksiin. Kustannustietoja ei systemaattisesti hyödynnetä prosessienkehittämisessä eikä arvioitaessa potentiaalisia kehitys- ja parannuskohteita. Toimintolaskennan erityispiirteet tukevat kuitenkin sitä, että toimintolaskenta sopii terveydenhuolto-organisaatioon kustannuslaskentamalliksi. Voidaan todeta kustannuslaskennan tukevan Lean- kehitystyön kohdentamista ja tuloksien arviointia.

THE MARKETING OF SOCIAL ENTERPRISES: Understanding the concepts of marketing and market orientation of social enterprises within the context of Pakistani market

The concepts of social entrepreneurship and social enterprises have been extensively discussed in the previous two decades, yet the topic is still not matured yet. Most of the available literature is focused on defining these terms. Similarly, limited number of authors has discussed the marketing function of these enterprises or how marketing is interpreted in social entrepreneurship models. However, there is a plethora of literature on marketing entailing many different theories, amongst which the newest one is the “market orientation concept”. Market orientation is a mix of customer orientation, competitor orientation and inter-functional coordination suggesting marketing to be a part of the business philosophy. This study focuses on the marketing and market orientation of social enterprises while giving an overview of the literature of marketing and market orientation in social enterprises. This study aims to provide two basic questions, 1) what is the literature on marketing and market orientation of social enterprises while explaining the literature of social enterprises in Pakistan and 2) how these concepts are interpreted in social enterprises in Pakistani market. Key features of research methodology include case study approach while conducting thematic analysis using thematic networks. The results indicate that only a limited number of authors have discussed market orientation concept in social enterprises. The results from the interview data indicate the usage of marketing by a firm unconsciously without a specific marketing department. In addition to that, it has been found that in social enterprise world competition is tackled through a win-win approach with a view that many enterprises working for society improve the society which is the basic mission of any social enterprise. The data also showed that in Pakistani market, social enterprise concept is not legally used yet, which allows for more room for innovation. This study intends to give a new perspective to the theorists to use market orientation concept in social enterprises and also to managers to use marketing as their business philosophy in order to satisfy the stakeholders for better delivery of their businesses and as well for social good.