Operational experiences with rockbed storage systems

Many rockbed thermal storage systems were installed in solar homes and greenhouses in Australia during the 1970s and 1980s. However, this technology appears to have waned in popularity since that time, although other storage options such as phase change materials are still not established alternatives. This paper re-evaluates rockbed storage technology, in the light of the experiences of users over the last 20 years. Of the 31 systems investigated, only seven were determined to be still working. There are a number of reasons for this, depending on the type and use of the system, which are discussed.

Critical operational management in international construction

The construction activities of a contractor may physically take place in the home country or overseas, and the latter, particularly of a large company, has an increasing proportion with the globalisation. Globalisation of the construction industry and its market is a trend in every country, Which increases the opportunities of both international construction, and competition or collaboration with foreign construction companies. International construction project management is undertaken in a complicated circumstance, and requires a synthetic management approach. This research aims to establish a primary framework for the critical operational management in achieving international construction projects in a novel construction market.

The conceptualisation of operational risk management models

Operational risk is evolving as a specialist field of risk management that must be practiced within all organisations, but currently has a particular relevance to banks. The Basel Committee on Banking Supervision has circulated a consultative paper which, if adopted by nation-state bank supervisors, will impose an operational risk capital charge on banks as part of a new Capital Accord. The definition of operational risk is wide-ranging and creates some unique issues related to the development of appropriate risk management models. This paper conceptualises two distinct operational risk management models; being a predictive model that will result in a known outcome upon its implementation, and a pre-emptive operational risk management model which prepares an organisation in the event that a future risk occurrence results in a disruption to critical business operations.

Impetus to explore: approaching operational deficiency optimistically

‘Impetus to explore’ is studied through post-lesson video-stimulated student interviews. This impetus focuses ‘spontaneous’ decisions to explore unfamiliar mathematics. Uncertainty, quests for elegance and curiosity have been found to contribute to this impetus. This study identified other contributing factors: inability to undertake the teacher’s task, ‘optimistic explanatory style’ (Seligman, 1995), and identifying relevant complexities (Williams, 2002). Explanatory style affects how a person perceives successes and failures. Enactment of optimism in this study illuminated its role in creating an impetus to explore. Re-conceptualising ‘operational deficiency’ (Chen & Siegler, 2000) to include absence of resources to undertake a task illuminated a task design feature that can increase exploration.

The conceptualisation of operational risk management models

Operational risk is evolving as a specialist field of risk management that must be practiced within all organisations, but currently has a particular relevance to banks. The Basel Committee on Banking Supervision has circulated a consultative paper which, if adopted by nation-state bank supervisors, will impose an operational risk capital charge on banks as part of a new Capital Accord. The definition of operational risk is wide-ranging and creates some unique issues related to the development of appropriate risk management models. This paper conceptualises two distinct operational risk management models; being a predictive model that will result in a known outcome upon its implementation, and a pre-emptive operational risk management model which prepares an organisation in the event that a future risk occurrence results in a disruption to critical business operations.

An operational approach to validate the path of BGP

BGP (Border Gateway Protocol) is a fundamental component of the current Internet infrastructure. However, BGP is vulnerable to a variety of attacks, since it cannot ensure the authenticity of the path attributes announced by BGP routers. Despite several solutions have been proposed to address this vulnerability, none of them is operational in real-world due to their immense impact on original BGP. In this paper, we propose a Deployable Path Validation Authentication scheme, which can effectively validate the path of BGP. Through analysis and simulation we show that this scheme has little impact on the performance and memory usage for the original BGP, and can be adopted in practice as an operational approach.

Assessing the efficacy and standardization potential of five competing venture capital investment evaluation approaches

The research objective behind this article was to perform a critical evaluation and comparison of five representative business plan evaluation aids (BPEAs) to facilitate constructive discussion of the proposition that greater standardization of venture capital decision-making might be both desirable and possible. The five BPEAs were systematically compared using a structured, taxonomic process. The evidence of this investigation suggests a clear superiority of BPEAs that are based on the researched attributes of successful ventures and use actuarial modeling. Discussion centered on the importance of using BPEAs in a quest for greater consistency during venture capital investment decision-making.

Caprice versus standardization in venture capital decision making

This study examined the criteria used by venture capitalists to evaluate business plans in order to make investment decisions. A literature survey revealed two competing theories: 'espoused criteria' where evaluation decisions are based on what venture capitalists say are the decisive factors, versus the use of 'known attributes' that successful ventures actually possess. Brunswik's Lens Model from Social Judgment Theory guided an empirical investigation of several different evaluation methods based on information contained in 129 business plans submitted for venture capital over a three-year period. Data evaluation culminated in the comparison of the percentage of correct decisions ('hit rate') for each method. We found that decisions based on the known attributes of successful ventures have significantly better hit rates than decisions made using espoused criteria. Discussion centered on the goal of achieving consistency in the conduct of venture analysis. Process standardization can aid in the achievement of consistency. Future research will both deepen and broaden insights.

Toward the standardization of venture capital investment evaluation : decision criteria for rating investee business plans

This study examined the criteria used by venture capitalists to evaluate business plans in order to make investment decisions. A literature survey revealed two competing theories: “espoused criteria” where evaluation decisions are based on what venture capitalists say are the decisive factors; versus the use of “known attributes” that successful ventures actually possess. Brunswik’s Lens Model from Social Judgment Theory guided an empirical investigation of several different evaluation methods based on information contained in 129 business plans submitted for venture capital over a 3 year period. Data evaluation culminated in the comparison of the percentage of correct decisions (“hit-rate”) for each method. We found that decisions based on the known attributes of successful ventures have significantly better hit-rates than decisions made using espoused criteria. Discussion centred on the goal of achieving consistency in the conduct of venture analysis. Process standardization can aid in the achievement of consistency. Future research will both deepen and broaden insights.