Are lifecycle funds appropriate as default options in participant-directed retirement plans?

The appropriateness of default investment options in participant-directed retirement plans like 401(k) has been in sharp focus given that most participants fail to nominate an investment option to direct their contributions. In United States (US), prior to the Pension Protection Act (PPA) of 2006, plan fiduciaries often selected a money market fund as the default option. Whilst this ‘low risk and low return’ investment option was considered to be a ‘safe’ choice by many fiduciaries who were fearful of litigation risk, it was heavily criticized for resulting in inadequate wealth at retirement, particularly when retirees were living much longer and facing inflation risk (see, for example, Viceira, 2008; Skinner, 2009)...

Ethnic enclave lifecycle : a case study of Chinese restaurants in south east Queensland

Immigrant entrepreneurs tend to start businesses within their ethnic enclave (EE), as it is an integral part of their social and cultural context and the location where ethnic resources reside (Logan, Alba, & Stults, 2003). Ethnic enclaves can be seen as a form of geographic cluster, China Towns are exemplar EEs, easily identified by the clustering of Chinese restaurants and other ethnic businesses in one central location. Studies on EE thus far have neglected the life cycles stages of EE and its impact on the business experiences of the entrepreneurs. In this paper, we track the formation, growth and decline of a EE. We argue that EE is a special industrial cluster and as such it follows the growth conditions proposed by the cluster life cycle theory (Menzel & Fornahl, 2009). We report a mixed method study of Chinese Restaurants in South East Queensland. Based on multiple sources of data, we concluded that changes in government policies leading to a sharp increase of immigrant numbers from a distinctive culture group can lead to the initiation and growth of the EE. Continuous incoming of new immigrants and increase competition within the cluster mark the mature stage of the EE, making the growth condition more favourable “inside” the cluster. A decline in new immigrants from the same ethnic group and the increased competition within the EE may eventually lead to the decline of such an industrial cluster, thus providing more favorable condition for growth of business outside the cluster.

Enterprise systems lifecycle-wide innovation readiness

Enterprise Systems have been touted as a key driver of delivering benefits through innovation in corporate Information Systems. The advent of such systems expects to deliver best practices that improve organizational performance. Yet, most Enterprise System installations struggle to see lifecycle-wide value of it. Considering that Enterprise Systems deliver lifecycle-wide innovation; we observe organizational readiness for lifecycle-wide Enterprise Systems innovation. The A VICTORY apriori model compares contributions of eight constructs for organizational readiness for continuous Enterprise Systems innovation. The model is tested responses of both client and implementation partner. Results indicate that six of the eight constructs of readiness make significant contributions to organizational readiness for Enterprise Systems innovation.

Enterprise system lifecycle-wide innovation - research in progress

Enterprise Systems purport to bring innovation to organizations. Yet, no past studies, neither from innovation nor from ES disciplines have merged their knowledge to understand how ES could facilitate lifecycle-wide innovation. Therefore, this study forms conceptual bridge between the two disciplines. In this research, we seek to understand how ES could facilitate innovation across its lifecycle phases. We associate classifications of innovation such as radical vs. incremental, administrative vs. technical innovation with the three phases of ES lifecycle. We introduce Continuous Restrained Innovation (CRI) as a new type of innovation specific to ES, considering restraints of technology, business processes and organization. Our empirical data collection at the implementation phase, using data from both the client and implementation partner, shows preliminary evidence of CRI. In addition, we state that both parties consider the implementation of ES as a radical innovation yet, are less interest in seeking further innovations through the system.

BIM-based lifecycle planning and specifications for sustainable cities of the future: A conceptual approach

Annually, several million tonnes of waste are produced from reworks, demolition, and use of substandard materials. Building Information Modelling (BIM), a digital representation of facilities and their constituent data, is a viable means of addressing some concerns about the impacts of these processes. BIM functionalities can be extended and combined with rich building information from specifications and product libraries, for efficient, streamlined design and construction. This paper conceptualises a framework for BIM-knowledge transfer from advanced economies for adaptation and use in urban development works in developing nations using the Sydney Down Under and Lagos Eko Atlantic projects as reference points. We present a scenario that highlights BIM-based lifecycle planning/specifications as agents of sustainable construction (in terms of cost and time) crucial to the quality of as-built data from early on in city development. We show how, through the use of BIM, city planners in developing nations can avoid high, retrospective (and sometimes wasteful) maintenance costs and leapfrog infrastructure management standards of advanced economies. Finally, this paper illustrates how BIM can address concerns about economic sustainability during city development in developing countries by enriching model objects with specification information sourced from a product library.

Ethnic cluster lifecycle : a case of Chinese restaurants in South East Queensland

Immigrant entrepreneurs tend to start businesses within their ethnic enclave (EE), as it is an integral part of their social and cultural context and the location where ethnic resources reside (Logan, Alba, & Stults, 2003). Ethnic enclaves can be seen as a form of geographic cluster, China Towns are exemplar EEs, easily identified by the clustering of Chinese restaurants and other ethnic businesses in one central location. Studies on EE thus far have neglected the life cycles stages of EE and its impact on the business experiences of the entrepreneurs. In this paper, we track the formation, growth and decline of an EE. We argue that EE is a special industrial cluster and as such it follows the growth conditions proposed by the cluster life cycle theory (Menzel & Fornahl, 2009). We report a mixed method study of Chinese Restaurants in South East Queensland. Based on multiple sources of data, we concluded that changes in government policies leading to a sharp increase of immigrant numbers from a distinctive culture group can lead to the initiation and growth of the EE. Continuous incoming of new immigrants and increase competition within the cluster mark the mature stage of the EE, making the growth condition more favourable “inside” the cluster. A decline in new immigrants from the same ethnic group and the increased competition within the EE may eventually lead to the decline of such an industrial cluster, thus providing more favorable condition for growth of business outside the cluster.

Lifecycle optimization and tradeoff analysis among competing objectives for a road corridor

While the philosophical motivation behind Civil Infrastructure Management Systems is to achieve optimal level of service at a minimum cost, the allocation of scarce resources among competing alternatives is still a matter of debate. It appears to be widely accepted that results from tradeoff analysis can be measured by the degree of accomplishment of the objectives. Road management systems not only deal with different asset types but also with conflicting objectives. This paper presents a case study of lifecycle optimization with tradeoff analysis for a road corridor in New Brunswick. Objectives of the study included condition of bridge and roads and road safety. A road safety index was created based on potential for improvement. Road condition was based on roughness, rutting and cracking. Initial results show lack of sustainability in bridge performance. Therefore, bridges where broken by components: deck, superstructure and substructure. Visual inspections, in addition to construction age of each bridge, were combined to generate a surrogate apparent age. Two life cycle analysis were conducted; one aimed to minimize overall cost while achieving sustainable results and another one purely for optimization. -used to identify required levels of budget. Such analyses were used to identify the minimum required budget and to demonstrate that with the same amount of money it was possible to achieve better levels of performance. Dominance and performance driven criteria were combined to identify and select an optimal result. It was found that achievement of optimally sustained results is conditioned by the availability of treatments for all asset classes at across their life spans. For the case study a disaggregated bridge condition index was introduced to the original algorithm to attempt to achieve sustainability in all bridges components, however lack of early stage treatments for substructures produce declining trends for such a component.

A Method for Evaluation of Product Lifecycle Alternatives under Uncertainty

In each stage of product development, we need to take decisions, by evaluating multiple product alternatives based on multiple criteria. Classical evaluation methods like weighted objectives method assumes certainty about information available during product development. However, designers often must evaluate under uncertainty. Often the likely performance, cost or environmental impacts of a product proposal could be estimated only with certain confidence, which may vary from one proposal to another. In such situations, the classical approaches to evaluation can give misleading results. There is a need for a method that can aid in decision making by supporting quantitative comparison of alternatives to identify the most promising alternative, under uncertain information about the alternatives. A method called confidence weighted objectives method is developed to compare the whole life cycle of product proposals using multiple evaluation criteria under various levels of uncertainty with non crisp values. It estimates the overall worth of proposal and confidence on the estimate, enabling deferment of decision making when decisions cannot be made using current information available.