Project risk management in analytic framework

Risks and uncertainties are part and parcel of any project as projects are planned with many assumptions. Therefore, managing those risks is the key to project success. Although risk is present in all most all projects, large-scale construction projects are most vulnerable. Risk is by nature subjective. However, managing risk subjectively posses the danger of non-achievement of project goals. This study introduces an analytical framework for managing risk in projects. All the risk factors are identified, their effects are analyzed, and alternative responses are derived with cost implication for mitigating the identified risks. A decision-making framework is then formulated using decision tree. The expected monetary values are derived for each alternative. The responses, which require least cost is selected. The entire methodology has been explained through a case study of an oil pipeline project in India and its effectiveness in managing projects has been demonstrated. © INTERNATIONAL JOURNAL OF INDUSTRIAL ENGINEERING.

Project risk management:a combined analytic hierarchy process and decision tree approach

Time, cost and quality achievements on large-scale construction projects are uncertain because of technological constraints, involvement of many stakeholders, long durations, large capital requirements and improper scope definitions. Projects that are exposed to such an uncertain environment can effectively be managed with the application of risk management throughout the project life cycle. Risk is by nature subjective. However, managing risk subjectively poses the danger of non-achievement of project goals. Moreover, risk analysis of the overall project also poses the danger of developing inappropriate responses. This article demonstrates a quantitative approach to construction risk management through an analytic hierarchy process (AHP) and decision tree analysis. The entire project is classified to form a few work packages. With the involvement of project stakeholders, risky work packages are identified. As all the risk factors are identified, their effects are quantified by determining probability (using AHP) and severity (guess estimate). Various alternative responses are generated, listing the cost implications of mitigating the quantified risks. The expected monetary values are derived for each alternative in a decision tree framework and subsequent probability analysis helps to make the right decision in managing risks. In this article, the entire methodology is explained by using a case application of a cross-country petroleum pipeline project in India. The case study demonstrates the project management effectiveness of using AHP and DTA.

Trade-offs in customer–employee focus:implications on boundary-spanning capabilities

In pursuing their particular strategic goals, organisations place differential emphasis in their activities on employees and customers. Those who focus predominantly on employees see them as key resources contributing to successful achievement of goals, while those who focus on customers believe that customer commitment is the prime source of financial prosperity and competitive advantage. In all firms, there is potential for conflict and subsequent trade-offs in the emphasis placed on employee resources and customers. This paper investigates the implications of these potential trade-offs on firms’ boundary-spanning capabilities (those capabilities that enable firms to interact effectively with their customers, their suppliers, their strategic allies and others in their business networks) in European and Australasian markets. The results suggest that those companies which achieve a strong but balanced focus on both employees and customers have heightened boundary-spanning capabilities. The comparison between UK and Australian businesses indicates that the balance is more highly developed in Australasian than European (UK) markets.

Trade-offs in customer-employee focus:Implications on boundary-spanning capabilities

In pursuing their particular strategic goals, organisations place differential emphasis in their activities on employees and customers. Those who focus predominantly on employees see them as key resources contributing to successful achievement of goals, while those who focus on customers believe that customer commitment is the prime source of financial prosperity and competitive advantage. In all firms, there is potential for conflict and subsequent trade-offs in the emphasis placed on employee resources and customers. This paper investigates the implications of these potential trade-offs on firms' boundary-spanning capabilities (those capabilities that enable firms to interact effectively with their customers, their suppliers, their strategic allies and others in their business networks) in European and Australasian markets. The results suggest that those companies which achieve a strong but balanced focus on both employees and customers have heightened boundary-spanning capabilities. The comparison between UK and Australian businesses indicates that the balance is more highly developed in Australasian than European (UK) markets. © 2004 by The Haworth Press, Inc. All rights reserved.

A rhetoric-in-context approach to building commitment to multiple strategic goals

There are still few explanations of the micro-level practices by which top managers influence employee commitment to multiple strategic goals. This paper argues that, through their language, top managers can construct a context for commitment to multiple strategic goals. We therefore propose a rhetoric-in-context approach to illuminate some of the micro practices through which top managers influence employee commitment. Based upon an empirical study of the rhetorical practices through which top managers influence academic commitment to multiple strategic goals in university contexts, we demonstrate relationships between rhetoric and context. Specifically, we show that rhetorical influences over commitment to multiple goals are associated with the historical context for multiple goals, the degree to which top managers' rhetoric instantiates a change in that context, and the internal consistency of the rhetorical practices used by top managers. Copyright © 2007 SAGE Publications.

Accounting information systems as knowledge objects:some effects of objectualization

This paper will outline a research methodology informed by theorists who have contributed to actor network theory (ANT). Research informed from such a perspective recognizes the constitutive role of accounting systems in the achievement of broader social goals. Latour, Knoor Cetina and others argue that the bringing in of non-human actants, through the growth of technology and science, has added immeasurably to the complexity of modern society. The paper ‘sees’ accounting and accounting systems as being constituted by technological ‘black boxes’ and seeks to discuss two questions. One concerns the processes which surround the establishment of ‘facts’, i.e. how ‘black boxes’ are created or accepted (even if temporarily) within society. The second concerns the role of existing ‘black boxes’ within society and organizations. Accounting systems not only promote a particular view of the activities of an organization or a subunit, but in their very implementation and operation ‘mobilize’ other organizational members in a particular direction. The implications of such an interpretation are explored in this paper. Firstly through a discussion of some of the theoretic constructs that have been proposed to frame ANT research. Secondly an attempt is made to relate some of these ideas to aspects of the empirics in a qualitative case study. The case site is in the health sector and involves the implementation of a casemix accounting system. Evidence from the case research is used to exemplify aspects of the theoretical constructs.

Bilingualism and educational achievement:a study of young bilinguals in Birmingham schools and colleges

This study aimed firstly to investigate current patterns of language use amongst young bilinguals in Birmingham and secondly to examine the relationship between this language use and educational achievement. The research then focussed on various practices, customs and attitudes which would favour the attrition or survival of minority languages in the British situation. The data necessary to address this question was provided by a sample of three hundred and seventy-four 16-19 year olds, studying in Birmingham schools and colleges during the period 1987-1990 and drawn from the main linguistic minority communities in Birmingham. The research methods chosen were both quantitative and qualitative. The study found evidence of ethnolinguistic vitality amongst many of the linguistic minority communities in Birmingham: a number of practices and a range of attitudes indicate that linguistic diversity may continue and that a stable diglossic situation may develop in some instances, particularly where demographical and religious factors lead to closeness of association. Where language attrition is occurring it is often because of the move from a less prestigious minority language or dialect to a more prestigious minority language in addition to pressures from English. The educational experience of the sample indicates that literacy and formal language study are of key importance if personal bilingualism is to be experienced as an asset; high levels of oral proficiency in the L1 and L2 do not, on their own, necessarily correlate with positive educational benefit. The intervening variable associated with educational achievement appears to be the formal language learning process and literacy. A number of attitudes and practices, including the very close associations maintained with some of the countries of origin of the families, were seen to aid or hinder first language maintenance and second language acquisition.

Cost-based pricing in the NHS internal market : accounting choices and the achievement of economic efficiency

Since 1988, quasi-markets have been introduced into many areas of social policy in the UK, the NHS internal market is one example. Markets operate by price signals. The NHS Internal Market, if it is to operate efficiently, requires purchasers and providers to respond to price signals. The research hypothesis is - cost accounting methods can be developed to enable healthcare contracts to be priced on a cost-basis in a manner which will facilitate the achievement of economic efficiency in the NHS internal market. Surveys of hospitals in 1991 and 1994 established the cost methods adopted in deriving the prices for healthcare contracts in the first year of the market and three years on. An in-depth view of the costing for pricing process was gained through case studies. Hospitals had inadequate cost information on which to price healthcare contracts at the inception of the internal market: prices did not reflect the relative performance of healthcare providers sufficiently closely to enable the market's espoused efficiency aims to be achieved. Price variations were often due to differing costing approaches rather than efficiency. Furthermore, price comparisons were often meaningless because of inadequate definition of the services (products). In April 1993, the NHS Executive issued guidance on costing for contracting to all NHS providers in an attempt to improve the validity of price comparisons between alternative providers. The case studies and the 1994 survey show that although price comparison has improved, considerable problems remain. Consistency is not assured, and the problem of adequate product definition is still to be solved. Moreover, the case studies clearly highlight the mismatch of rigid, full-cost pricing rules with both the financial management considerations at local level and the emerging internal market(s). Incentives exist to cost-shift, and healthcare prices can easily be manipulated. In the search for a new health policy paradigm to replace traditional bureaucratic provision, cost-based pricing cannot be used to ensure a more efficient allocation of healthcare resources.

A systems approach to students' motivation and academic achievement

This research followed earlier work (reported in a thesis presented in 1970) on factors associated with the academic performance of a sample of technical college students, which recommended the further study of students' motivation. The technical college then became part of a polytechnic, but the courses chosen for the continuation of the research were all of a specifically vocational character. The approach was influenced by Angyal (1941) in seeking to relate symbolic processes to broader behaviour patterns within a systems framework. Forms of semantic differential were developed to obtain the students' responses to words representing various activities and various people both within and outside the academic environment. Also, a "!growth motivation questionnaire" was produced using ideas from self-actualisation, job satisfaction and expectancy theory and examination marks were recorded. From pre-coded responses to the growth motivation questionnaire, scores on a 'study satisfaction' factor were calculated, and subsamples of students were taken at the extremes of this scale. Wriitten responses from the same questionnaire and semantic differential factor scores showed contrasting patterns between the two subsamples. Interpretation of these patterns suggested a diversity of approach to academic work among the students which calls for greater flexibility in the educational system serving them.

Placement year academic benefit revisited:effects of demographics, prior achievement and degree programme

Investigations of whether students taking undergraduate work placements show greater academic improvement than those who do not have shown inconsistent results. In most studies, sample sizes have been relatively small and few studies have taken into account pre-existing student differences.Here data from over 6000 students at one university over six cohorts and a range of programmes are analysed. Consistent academic benefit from placement experience, regardless of ethnicity, gender, socioeconomic background and subject is shown. However the impact of demographic factors on both achievement and on the probability of taking a placement suggests that future research should take these factors into account. The role of placements in promoting employability is contextualised as a secondary benefit to the primary goal of educating the mind in the Newman (1852) tradition. Possible causes of, and further research into, the improved academic performance identified are discussed.

Start afresh:breathe life into your marketing

Strategy may be defined as the pattern of activities that leads to achievement of your goal. In pharma companies our goals are normally ascribed to sales targets, with turnover being seen as a proxy for profit. Managers that fail to achieve their sales targets, however, often fail to follow a rational process to investigate possible causes. This is a necessary step to remedy the situation and if they were to do this, they would save time, money and effort.

Creating gusto through games and goals

Goal-based learning (GBL) has long been used for teaching (Schank and Kass, 1996) and training (Collins, 1994), and game playing is also very widely used (Fudenberg and Levine, 1998). When both are used together it can become a winning combination that focuses students? attention, dismisses precepts about a subject, lowers barriers to preferred learning-styles and open minds to new tools, ideas and concepts. The combination can be achieved using basic traditional physical props (e.g. pens and paper) or advanced internet technology. This report briefly describes an offline and online approach and then summarises some of the main benefits to be gained from combining games and goals to get students going in the right pedagogical direction.