Quotable value: A case of increasing value

In 2005 Quotable Value was New Zealand’s largest valuation and property information organisation with approximately 230 staff and 22 offices throughout the country. While Government reforms within New Zealand had forced this former Government department to operate in a competitive market, a booming property industry and a number of innovative projects generating new income streams had fuelled Quotable Value’s success and growth. Recent changes in the economic environment, however, and predictions that the property bubble would soon burst, also presented a number of threats. The challenge for Quotable Value was how to sustain and build further growth.

National whoppercropper - risk management discussion support software

It is a paradox that in a country with one of the most variable climates in the world, cropping decisions are sometimes made with limited consideration of production and resource management risks. There are significant opportunities for improved performance based on targeted information regarding risks resulting from decision options. WhopperCropper is a tool to help agricultural advisors and farmers capture these benefits and use it to add value to their intuition and experience. WhopperCropper allows probability analysis of the effects of a range of selectable crop inputs and existing resources on yield and economic outcomes. Inputs can include agronomic inputs (e.g crop type, N fertiliser rate), resources (e.g soil water at sowing), and seasonal climate forecast (SOI phase). WhopperCropper has been successfully developed and refined as a discussion-support process for decision makers and their advisers in the northern grains region of Australia. The next phase of the project will build on the current project by extending its application nationally and enhancing the resource management aspects. A commercial partner, with over 800 advisor clients nationally, will participate in the project.

Making the link between engineering management and undergraduate research

This paper describes and analyses an innovative engineering management course that applies a project management framework in the context of a feasibility study for a prospective research project. The aim is to have students learn aspects of management that will be relevant from the outset of their professional career while simultaneously having immediate value in helping them to manage a research project and capstone design project in their senior year. An integral part of this innovation was the development of a web-based project management tool. While the main objectives of the new course design were achieved, a number of important lessons were learned that would guide the further development and continuous improvement of this course. The most critical of these is the need to achieve the optimum balance in the mind of the students between doing the project and critically analyzing the processes used to accomplish the work.

Stand density management in rainforest plantations

Trees in plantations established for timber production are usually grown at a sufficiently high density that canopy closure occurs within a relatively short time after planting. The trees then shade and outcompete most herbs, shrubs or grasses growing at the site. The closer the spacing (i.e. the greater the density) the faster this will occur. Subsequently, as the trees grow larger, this between-species competition is replaced by within-species competition. If unmanaged, this competition can reduce the commercial productivity of the plantation. Thus, there are two management dilemmas. One is knowing the best initial planting density. The second is knowing how to management the subsequent between-tree competition in order to optimize overall plantation timber productivity. In this chapter we consider initial spacing and thinning for high value timber trees grown in single and mixed species plantations. From growth studies in stands of different ages recommendations are proposed for managing both types of plantations where the primary objective is timber production. It seems that many rainforest species will require more space to achieve optimal growth than most eucalypts and conifers. On the other hand many rainforest species do not have strong apical dominance. Care will be needed to balance these two attributes.

Levinasian ethics and the representation of the other in international and cross-cultural management

In this paper, we seek to further the discussion, problematization and critique of west/east identity relations in ICM studies by considering the ethics of the relationship – an issue never far beneath the surface in discussions of Orientalism. In particular we seek to both examine and question the ethics of representation in relation to a critique of what has come to be known as international and cross-cultural management (ICM). To pursue such a discussion, we draw specifically on the ethical elaborations of Emmanuel Levinas as well as his chief interlocutors Jacques Derrida and Zygmunt Bauman. The value of this discussion, we propose, is that Levinas offers a philosophy that holds as its central concept the relationship between the self and Other as the primary ethical and pre-ontological relation. Levinas’ philosophy provides a means of extending the post-colonial critique of ICM, and ICM provides a context in which the Levinasian ethics can be brought to bear on a significant issue on contemporary business and management.

Power generation investment opportunities evaluation: A comparison between net present value and real options approach

To evaluate an investment project in the competitive electricity market, there are several key factors that affects the project's value: the present value that the project could bring to investor, the possible future course of actions that investor has and the project's management flexibility. The traditional net present value (NPV) criteria has the ability to capture the present value of the project's future cash flow, but it fails to assess the value brought by market uncertainty and management flexibility. By contrast with NPV, the real options approach (ROA) method has the advantage to combining the uncertainty and flexibility in evaluation process. In this paper, a framework for using ROA to evaluate the generation investment opportunity has been proposed. By given a detailed case study, the proposed framework is compared with NPV and showing a different results

On aggregation issues in spatial data management

Large amounts of information can be overwhelming and costly to process, especially when transmitting data over a network. A typical modern Geographical Information System (GIS) brings all types of data together based on the geographic component of the data and provides simple point-and-click query capabilities as well as complex analysis tools. Querying a Geographical Information System, however, can be prohibitively expensive due to the large amounts of data which may need to be processed. Since the use of GIS technology has grown dramatically in the past few years, there is now a need more than ever, to provide users with the fastest and least expensive query capabilities, especially since an approximated 80 % of data stored in corporate databases has a geographical component. However, not every application requires the same, high quality data for its processing. In this paper we address the issues of reducing the cost and response time of GIS queries by preaggregating data by compromising the data accuracy and precision. We present computational issues in generation of multi-level resolutions of spatial data and show that the problem of finding the best approximation for the given region and a real value function on this region, under a predictable error, in general is "NP-complete.

Business education in operations management

This paper examines trends in the practice of Operations Management and in teaching the field in major Business Schools. Operations Management has been defined as the design and management of transformation processes that create value for society. The operations function is the one function directly involved in that transformation, and hence is directly responsible for the activities that justify the existence of the firm, both economically and as a value-creating organization in society. The top rated schools in Operations Management are the top-rated research-intensive Business Schools in the world. Operations Management is an area that has been undergoing rapid change in response to changes in business practices worldwide. It is at the heart of changes of which the AACSB report Management Education at Risk, August 2002 (p 20), comments of Business Schools in general: ‘With regard to global relevance (of Business Schools), the complex opportunities and challenges that emanate from the world scope of operations, outsourcing, supply chains, partnerships, and financial and consumer markets – all linked in real time through the Internet – are not reflected adequately in curricula and learning approaches.’ Products, and even services, depend increasingly on advanced technology. This is true globally and especially so for countries in South East and East Asia, from which Australian Universities draw a significant number of students. Services operations management has become much more important, while there are both educational and industrial needs in management science or operations research.