Financial decision making about found oil and gas in Ghana : real options vs. traditional methods

This research is a study of the use of capital budgeting methods for investment decisions. It uses both the traditional methods and the newly introduced approach called the real options analysis to make a decision. The research elucidates how capital budgeting can be done when analysts encounter projects with high uncertainty and are capital intensive, for example oil and gas production. It then uses the oil and gas find in Ghana as a case study to support its argument. For a clear understanding a thorough literature review was done, which highlights the advantages and disadvantages of both methods. The revenue that the project will generate and the costs of production were obtained from the predictions by analysts from GNPC and compared to others experts’ opinion. It then applied both the traditional and real option valuation on the oil and gas find in Ghana to determine the project’s feasibility. Although, there are some short falls in real option analysis that are presented in this research, it is still helpful in valuing projects that are capital intensive with high volatility due to the strategic flexibility management possess in their decision making. It also suggests that traditional methods of evaluation should still be maintained and be used to value projects that have no options or those with options yet the options do not have significant impact on the project. The research points out the economic ripples the production of oil and gas will have on Ghana’s economy should the project be undertaken. These ripples include economic growth, massive job creation and reduction of the balance of trade deficit for the country. The long run effect is an eventually improvement of life of the citizens. It is also belief that the production of gas specifically can be used to generate electricity in Ghana which would enable the country to have a more stable and reliable power source necessary to attract more foreign direct investment.

Portfolios and pedagogy : an examination of ideology and use

Portfolio use in writing studies contexts is becoming ubiquitous and, as such, portfolios are in danger of being rendered meaningless and thus require that we more fully theorize and historicize portfolios. To this end, I examine portfolios: both the standardized portfolio used for assessment purposes and the personalized portfolio used for entering the job market. I take a critical look at portfolios as a form of technology and acknowledge some of the dangers of blindly using portfolios for gaining employment in the current economic structure of fast capitalism. As educators in the writing studies fields, it is paramount that instructors have a critical awareness of the consequences of portfolio creation on students as designers, lifelong learners, and citizens of a larger society. I argue that a better understanding of the pedagogical implications for portfolio use is imperative before implementing them in the classroom, and that a social-epistemic approach provides a valuable rethinking of portfolio use for assessment purposes. Further, I argue for the notions of meditation and transformation to be added alongside collection, selection, and reflection because they enable portfolio designers and evaluators alike to thoughtfully consider new ways of meaning-making and innovation. Also important and included with meditation and transformation is the understanding that students are ideologically positioned in the educational system. For them to begin recognizing their situatedness is a step toward becoming designers of change. The portfolio can be a site for that change, and a way for them to document their own learning and ways of making meaning over a lifetime.