Corporate governance and risk management : the role of risk management and compensation committees

This paper examines the role of compensation and risk committees in managing and monitoring the risk behaviour of Australian financial firms in the period leading up to the global financial crisis (2006–2008). This empirical study of 711 observations of financial sector firms demonstrates how the coordination of risk management and compensation committees reduces information asymmetry. The study shows that the composition of the risk and compensation committees is positively associated with risk, which, in turn, is associated with firm performance. More importantly, information asymmetry is reduced when a director is a member of both the risk and compensation committees which moderate the negative association between risk and firm performance for firms with high risk.

Tax Expenditure Management : A Critical Assessment

A tax expenditure is a 'tax break' allowed to a taxpayer or group of taxpayers, for example, by way of concession, deduction, deferral or exemption. The tax expenditure concept, as it was first identified, was designed to demonstrate the similarity between direct government spending on the one hand and spending through the tax system on the other. The identification of benefits provided through the tax system as tax expenditures allows analysts to consider the fiscal significant of those parts of the tax system which do not contribute to the primary purpose of raising revenue. Although a seemingly simple concept, it has generated a range of complex definitional and practical issues, and this book identifies and critical assesses the controversial aspects of tax expenditure and tax expenditure management.

Project management under uncertainty

Morris' (1986) analysis of the factors affecting project success and failure is considered in relation to the psychology of judgement under uncertainty. A model is proposed whereby project managers may identify the specific circumstances in which human decision-making is prone to systematic error, and hence may apply a number of de-biasing techniques.

Applying quality management to project delivery in Hong Kong : A field study of management perceptions

The concept of market-driven rather than product-driven quality management has been given prominence through the report of a recent inquiry into the performance of the Hong Kong construction industry. The report submitted to the Government of Hong Kong in 2001 establishes a new vision of ‘an integrated industry that is capable of continuous improvement towards excellence in the market-driven environment’. Given the current economic downturn, major contractors are facing many challenges to realize this new quality oriented vision. This paper addresses the critical and timely issue of applying quality management to the project delivery process in Hong Kong. The paper attempts to capture and critically examine management perceptions of quality management aspects as applied to a local large-scale road construction project. Based on the analysis of questionnaire feedback and face-to-face interviews, the paper reveals key attributes of a successful application of quality management approaches, and identifies a mechanism for facilitating such implementation.

Knowledge management practices in construction : Evidence from Hong Kong

The acquisition and management of knowledge is the dominant source of organisational com-petitive advantage. As innovation processes in the management and procurement of construc-tion activities are becoming increasingly interactive, knowledge management (KM) has been widely recognised by construction organisations as an essential tool to be employed when dealing with growing complexity and cost of projects as well as increasing client demands. KM requires deliberate efforts by an organisation to maximise its performance through the acquisition, dissemination and leveraging of the organisation’s intellectual assets. The Hong Kong (HK) construction market has been described as one of the most open and globally competitive. This paper reports on KM practices within the HK construction industry, and through the analysis of a self-administered questionnaire survey, reveals managers’ opinions of the formal and informal KM practices that could be used to manage the flow of knowledge, and identifies the level of implementation within their organisations. The differences between managers’ perception and the actual state of implementation – as reported by the same man-agers – are statistically examined. The analysis leads to better understanding of how HK con-struction professionals currently manage organisational knowledge, and what areas for poten-tial improvement exist.

Conceptual model linking knowledge management with organisational performance

Better management of knowledge assets has the potential to improve business processes and increase productivity. This fact has led to considerable interest in recent years in the knowledge management (KM) phenomenon, and in the main dimensions that can impact on its application in construction. However, a lack of a systematic way of assessing KM initia-tives’ contribution towards achieving organisational business objectives is evident. This paper describes the first stage of a research project intended to develop, and empirically test, a KM input-process-output framework comprising unique and well-defined theoretical constructs representing the KM process and its internal and external determinants in the context of con-struction. The paper presents the underlying principles used in operationally defining each construct through the use of extant KM literature. The KM process itself is explicitly mod-elled via a number of clearly articulated phases that ultimately lead to knowledge utilisation and capitalisation, which in turn adds value or otherwise to meeting defined business objec-tives. The main objective of the model is to reduce the impact of subjectivity in assessing the contribution made by KM practices and initiatives toward achieving performance improvements.

Modelling the Contribution of Knowledge Management towards Achieving Orgnisational Business Objectives

Knowledge management (KM) continues to receive mounting interest within the construction industry due to its potential to offer solutions for organisations seeking competitive advantage. This paper presents a KM input-process-output conceptual model comprising unique and well-defined theoretical constructs representing KM practices and their internal and external determinants in the context of construction. The paper also presents the underlying principles used in operationally defining each construct using extant KM literature, and offers a number of testable hypotheses that capture the inter-relationships between the identified constructs.

Empirical analysis of knowledge management activities in construction organisations

Knowledge is a commodity. It is a by-product of learning that involves the creation, sharing, processing and possible use of information in the mind of an individual. Knowledge management (KM) is, therefore, concerned with the effective implementation of such activities within the organisation. It is simply the process of leveraging organisational knowledge to deliver a long-term competitive advantage. This paper presents the results of an empirical research investigation into the interaction between different KM activities within the context of construction contracting organisations. The different KM activities include: responsiveness to the knowledge of business environment, knowledge acquisition, knowledge dissemination, and knowledge application. A questionnaire survey was administered to investigate the opinions of construction professionals regarding the intensity of activities currently implemented by their organisations to facilitate knowledge capturing, sharing and application. A total of 149 responses were then used to statistically examine the inter-relationships between the different KM activities as practised by contracting organisations in Hong Kong. The paper presents and discusses the survey findings and proposes recommendations for improving the effectiveness of current KM practices.

People capabilities for promoting sustainability in facilities management practices

Sustainability needs to be embedded throughout the life-cycle of a construction project. From project conception, planning, design, construction stage, operation and maintenance to demolition, each phase of development should embrace principles of sustainability and the stakeholder involved should be empowered with the necessary skills. Past research explored the importance of ensuring sustainability measures during the occupancy phase based on considerations of Life-Cycle Cost Analysis and a project’s long-term detrimental impact on the environment. Facility managers are in a unique position to promote sustainability over longer periods of project engagement and can apply a high level of influence on the built assets through management and upgrades. There is growing interest among facility managers in incorporating sustainability measures into day-to-day practice. More, however, needs to be done. Previous studies have identified barriers such as the lack of sustainability knowledge and skills, poor access to information, and unwillingness to change among facility management (FM) practitioners and stakeholders. This inhibits proper implementation of sustainable practices in the FM sector. A number of key factors, such as knowledge discrepancy, time constraints, diversity of FM functions and a lack of incentives, require urgent remedy. The capability of FM professionals and stakeholders will be a key enabler in managing the sustainability agenda, as it is central to the improvement of competency and innovation in an organization. Compared to the attempts at developing sustainability guidelines and performance measurement, research efforts relating to people capabilities and skills are still lagging behind. This paper discusses the progress to date of a research project aimed at formulating a people capabilities framework for sustainable FM practices based on expert opinions and industry feedback. Through literature review, the paper explores the challenges of incorporating sustainability principles into general FM practices before focusing specifically on FM personnel capabilities that may impact on the implementation of a holistic sustainability agenda in real life practice. The results of an industry survey are used to propose an action framework to identify, promote and utilise people capabilities in order to promote sustainability integration in FM practices. The paper provides a useful information source for FM personnel and organizations to bridge the gap between extensive tools on sustainable design and construction assessment at the front end and the need to maintain focus throughout the project life-cycle.

‘Working with the team’ : an exploratory study of improved type 2 diabetes management in a new model of integrated primary/secondary care

This study aimed to explore how a new model of integrated primary/secondary care for type 2 diabetes management, the Brisbane South Complex Diabetes Service (BSCDS), related to improved diabetes management in a selected group of patients. We used a qualitative research design to obtain detailed accounts from the BSCDS via semi-structured interviews with 10 patients. The interviews were fully transcribed and systematically coded using a form of thematic analysis. Participants’ responses were grouped in relation to: (1) Patient-centred care; (2) Effective multiprofessional teamwork; and (3) Empowering patients. The key features of this integrated primary/secondary care model were accessibility and its delivery within a positive health care environment, clear and supportive interpersonal communication between patients and health care providers, and patients seeing themselves as being part of the team-based care. The BSCDS delivered patient-centred care and achieved patient engagement in ways that may have contributed to improved type 2 diabetes management in these participants.

Integrated coastal zone management and sustainable development of coastal area : a short overview of international legal framework

This chapter contains sections titled: Introduction ICZM and sustainable development of coastal zone International legal framework for ICZM Implementation of international legal obligations in domestic arena Concluding remarks References

A methodological evaluation of business process compliance management frameworks

Existing compliance management frameworks (CMFs) offer a multitude of compliance management capabilities that makes difficult for enterprises to decide on the suitability of a framework. Making a decision on the suitability requires a deep understanding of the functionalities of a framework. Gaining such an understanding is a difficult task which, in turn, requires specialised tools and methodologies for evaluation. Current compliance research lacks such tools and methodologies for evaluating CMFs. This paper reports a methodological evaluation of existing CMFs based on a pre-defined evaluation criteria. Our evaluation highlights what existing CMFs offer, and what they cannot. Also, it underpins various open questions and discusses the challenges in this direction.

Proceedings of the Fourth Australasian Workshop on Health Informatics and Knowledge Management [Volume 120]

We are pleased to present the papers from the Australasian Health Informatics and Knowledge Management (HIKM) conference stream held on 20 January 2011 in Perth as a session of the Australasian Computer Science Week (ASCW) 2011. Formerly HIKM was named Health Data and Knowledge Management, however the inclusion of the health informatics term is timely given the current health reform. The submissions to HIKM 2011 demonstrated that Australasian researchers lead with many research and development innovations coming to fruition. Some of these innovations can be seen here, and we believe further recognition will accomplish by continuation to HIKM in the future. The HIKM conference is a review of health informatics related research, development and education opportunities. The conference papers were written to communicate with other researchers and share research findings, capturing each and every aspect of the health informatics field. They are namely: conceptual models and architectures, privacy and quality of health data, health workflow management patient journey analysis, health information retrieval, analysis and visualisation, data integration/linking, systems for integrated or coordinated care, electronic health records (EHRs) and personally controlled electronic health records (PCEHRs), health data ontologies, and standardisation in health data and clinical applications.

A prospective longitudinal survey of fatigue self-management behaviors in patients with advanced cancer

Background: Fatigue is a distressing symptom experienced by approximately 74-88% of patients with advanced cancer. Although there have been advances in managing fatigue with the use of a range of pharmacologic and non-pharmacologic strategies, fatigue is not well-managed in patients with advanced cancer. Objectives: For patients with advanced cancer, the aims of the study were to examine the self-management (SM) behaviours associated with fatigue; the perceived effectiveness of these SM behaviours, and the socio-demographic and clinical factors influencing the effectiveness of these SM behaviours. Methodology: A prospective longitudinal study was undertaken with 152 patients with metastatic breast, lung, colorectal and prostate cancer experiencing fatigue (>3/10) over a two month period. SM behaviours associated with fatigue, medical/demographic characteristics, social support, depression, anxiety, self-efficacy and other symptoms were assessed. Results: Findings indicate that on most fatigue severity measures, levels of fatigue increased slightly over time. On average, participants used nine fatigue SM behaviours at each time point. Participants reported that the most effective SM behaviours were ‘pacing their activities during the day’, ‘planning activities to make the most of energy’, ‘taking short sleeps’, ‘doing things that distract them from their fatigue’, and ‘doing things to improve sleep at night’. Factors associated with the increased effectiveness of fatigue SM behaviours included higher self-efficacy, higher education level, lower levels of depressive symptoms, and lower functional status. These results can be used to inform the design of future interventions to support the use of effective fatigue SM behaviours in this population.

An overview of level I evidence for the management of radiation dermatitis literature

Background: Despite the technologic advances, radiation dermatitis is still a prevalent and distressing symptom in patients with cancer undergoing radiotherapy. Systematic reviews (SRs) are regarded as level I evidence providing direction for clinical practice and guidelines. This overview aims to provide a critical appraisal of SRs published on interventions for the prevention/management of radiation dermatitis. Methodology: We searched the following electronic databases: MEDLINE, CINAHL, EMBASE, and the Cochrane Library (up to Feb 2012). We also hand-searched reference lists of potentially eligible articles and a number of key journals in the area. Two authors screened all potential articles and included eligible SRs. Two authors critically appraised and extracted key findings from the included reviews using the “A Measurement Tool to Assess Systematic Reviews” (AMSTAR). Results: Of 1837 potential titles, six SRs were included. A number of interventions have been reported to be potentially beneficial for managing radiation dermatitis. Interventions evaluated in these reviews included skin care advice, steroidal/non-steroidal topical agents, systematic therapies, modes of radiation delivery, and dressings. However, all the included SRs reported that there is insufficient evidence supporting any single effective intervention. The methodological quality of the included studies varied, and methodological shortfalls in these reviews may create biases to the overall results or recommendations for clinical practice. Conclusions and implications: An up-to-date high quality SR in preventing/managing radiation dermatitis is needed to guide practice and direction for future research. Clinicians or guideline developers are recommended to critically evaluate the information of SRs in their decision making.