Goal-refinement appraisal of soft projects (GRASP)

Industrial projects are often complex and burdened with time pressures and a lack of information. The term 'soft-project' used here stands for projects where the ‘what’ and/or the ‘how’ is uncertain, which is often the experience in projects involving software intensive systems developments. This thesis intertwines the disciplines of project management and requirements engineering in a goal-oriented application of the maxim ‘keep all objectives satisfied’. It thus proposes a method for appraising projects. In this method, a goal-oriented analysis establishes a framework with which expert judgements are collected so as to construct a confidence profile in regard to the feasibility and adequacy of the project's planned outputs. It is hoped that this appraisal method will contribute to the activities of project ‘shaping’ and aligning stakeholders’ expectations whilst helping project managers appreciate what parts of their project can be progressed and what parts should be held pending further analysis. This thesis offers the following original contribution: an appreciation of appraisal in the project context; a goal-oriented confidence profiling technique; and: a technique to produce goal-refinement diagrams – referred to as Goal Sketching. Collectively these amount to a method for the ‘Goal Refinement Appraisal of Soft-Projects’ (GRASP). The validity of the GRASP method is shown for two projects. In the first it is used for shaping a business investigation project. This is done in real-time in the project. The second case is a retrospective study of an enterprise IT project. This case tests the effectiveness of forecasting project difficulty from an initial confidence profile.

Being and goodness

The old scholastic principle of the "convertibility" of being and goodness strikes nearly all moderns as either barely comprehensible or plain false. "Convertible" is a term of art meaning "interchangeable" in respect of predication, where the predicates can be exchanged salva veritate albeit not salva sensu: their referents are, as the maxim goes, really the same albeit conceptually different. The principle seems, at first blush, absurd. Did the scholastics literally mean that every being is good? Is that supposed to include a cancer, a malaria parasite, an earthquake that kills millions? If every being is good, then no being is bad—but how can that be? To the contemporary philosophical mind, such bafflement is understandable. It derives from the systematic dismantling of the great scholastic edifice that took place over half a millennium. With the loss of the basic concepts out of which that edifice was built, the space created by those concepts faded out of existence as well. The convertibility principle, like virtually all the other scholastic principles (not all, since some do survive and thrive in analytic philosophy), could not persist in a post-scholastic space wholly alien to it.

Public real estate and the term structure of interest rates: a cross-country study

Using a variation of the Nelson-Siegel term structure model we examine the sensitivity of real estate securities in six key global markets to unexpected changes in the level, slop and curvature of the yield curve. Our results confirm the time-sensitive nature of the exposure and sensitivity to interest rates and highlight the importance of considering the entire term structure of interest rates. One issue that is of particular of interest is that despite the 2007-9 financial crisis the importance of unanticipated interest rate risk weakens post 2003. Although the analysis does examine a range of markets the empirical analysis is unable to provide definitive evidence as to whether REIT and property-company markets display heightened or reduced exposure.