Search results for: investment project risks

Authors: Yu-Cheng Lin

Abstract:

Construction project control attempts to obtain real-time information and effectively enhance dynamic control and management via information sharing and analysis among project participants to eliminate construction conflicts and project delays. However, survey results for Taiwan indicate that construction commercial project management software is not widely accepted for subcontractors and suppliers. To solve the project communications problems among participants, this study presents a novel system called the Construction Dynamic Teams Communication Management (Con-DTCM) system for small-to-medium sized subcontractors and suppliers in Taiwanese Construction industry, and demonstrates that the Con-DTCM system responds to the most recent project information efficiently and enhances management of project teams (general contractor, suppliers and subcontractors) through web-based environment. Web-based technology effectively enhances information sharing during construction project management, and generates cost savings via the Internet. The main unique characteristic of the proposed Con-DTCM system is extremely user friendly and easily design compared with current commercial project management applications. The Con-DTCM system is applied to a case study of construction of a building project in Taiwan to confirm the proposed methodology and demonstrate the effectiveness of information sharing during the construction phase. The advantages of the Con-DTCM system are in improving project control and management efficiency for general contractors, and in providing dynamic project tracking and management, which enables subcontractors and suppliers to acquire the most recent project-related information. Furthermore, this study presents and implements a generic system architecture.

Keywords: Construction project management, Information System, Portal, Web, Small-to-medium enterprises.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1969

Authors: Sansanee Sansiribhan, Anusorn Rattanathanaophat, Chirapan Nuengchaknin

Abstract:

The potential feasibility of a 9.5 MW_e capacity rice straw power plant project in Thailand was studied by evaluating the rice straw resource. The result showed that Thailand had a high rice straw biomass potential at the provincial level, especially, the provinces in the central, northeastern and western Thailand, which could feasibly develop plants. The economic feasibility of project was also investigated. The financial feasibility is also evaluated based on two important factors in the project, i.e., NPV ≥ 0 and IRR ≥ 11%. It was found that the rice straw power plant project at 9.5 MW_e was financially feasible with the cost of fuel in the range of 30.6-47.7 USD/t.

Keywords: Power plant, Project feasibility, Rice straw, Thailand.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3465

Authors: C. V. Pietreanu, S. E. Zaharia, C. Dinu

Abstract:

Hazard assessment and risks quantification are key components for estimating the impact of existing regulations. But since regulatory compliance cannot cover all risks in aviation, the authors point out that by studying causal factors and eliminating uncertainty, an accurate analysis can be outlined. The research debuts by making delimitations on notions, as confusion on the terms over time has reflected in less rigorous analysis. Throughout this paper, it will be emphasized the fact that the variation in human performance and organizational factors represent the biggest threat from an operational perspective. Therefore, advanced risk assessment methods analyzed by the authors aim to understand vulnerabilities of the system given by a nonlinear behavior. Ultimately, the mathematical modeling of existing hazards and risks by eliminating uncertainty implies establishing an optimal solution (i.e. risk minimization).

Keywords: Control, human factor, optimization, risk management, uncertainty.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1612

Authors: Babak H. Tabrizi, Seyed Farid Ghaderi

Abstract:

Concurrent planning of the resource constraint project scheduling and material ordering problems have received significant attention within the last decades. Hence, the issue has been investigated here with the aim to minimize total project costs. Furthermore, the presented model considers different discount options in order to approach the real world conditions. The incorporated alternatives consist of all-unit and incremental discount strategies. On the other hand, a modified version of the genetic algorithm is applied in order to solve the model for larger sizes, in particular. Finally, the applicability and efficiency of the given model is tested by different numerical instances.

Keywords: Genetic algorithm, material ordering, project management, project scheduling.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1293

Authors: Liping Li, Wenan Tan, Na Wang

Abstract:

With the rapid development of information technology, project management has gained more and more attention recently. Based on CDIO, this paper proposes some teaching reform ideas for software project management curriculum. We first change from Teacher-centered classroom to Student-centered and adopt project-driven, scenario animation show, teaching rhythms, case study and team work practice to improve students' learning enthusiasm. Results showed these attempts have been well received and very effective; as well, students prefer to learn with this curriculum more than before the reform.

Keywords: CDIO, teaching reform, engineering education, project-driven, scenario animation simulation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1220

Authors: F. Calisir, C. A. Gumussoy, A. E. Bayraktaroglu, E. Saygivar

Abstract:

Meeting users- requirements is one of predictors of project success. There should be a match between the expectations of the users and the perception of key project personnel with respect to usability and functionality. The aim of this study is to make a comparison of key project personnel-s and potential users- (customer representatives) evaluations of the relative importance of usability and functionality factors in a software design project. Analytical Network Process (ANP) was used to analyze the relative importance of the factors. The results show that navigation and interaction are the most significant factors,andsatisfaction and efficiency are the least important factors for both groups. Further, it can be concluded that having similar orders and scores of usability and functionality factors for both groups shows that key project personnel have captured the expectations and requirements of potential users accurately.

Keywords: Functionality, software design, usability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1639

Authors: Amaral, António, Araújo, Madalena

Abstract:

This paper seeks to give a general idea of the universe of project portfolio management, from its multidisciplinary nature, to the many challenges it raises, passing through the different techniques, models and tools used to solve the multiple problems known. It is intended to contribute to the clarification, with great depth, of the impacts and relationships involved in managing the projects- portfolio. It aims at proposing a technique for the project alignment with the organisational strategy, in order to select projects that later on will be considered in the analysis and selection of the portfolio. We consider the development of a methodology for assessing the project alignment index very relevant in the global market scenario. It can help organisations to gain a greater awareness of market dynamics, speed up the decision process and increase its consistency, thus enabling the strategic alignment and the improvement of the organisational performance.

Keywords: Project Portfolio Management Cycle, Project Portfolio Selection, Resource Assignment, Strategy Alignment technique

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3427

Authors: H. Zare Amadabadi, S. Soltani Gerdefaramarzi

Abstract:

In recent years, strategic alliances have taken increasing importance as a means to control competitive forces and to enter into new markets. Joint ventures are one of the most frequently used contractual forms in strategic alliances. There are various motivations for cooperation between two or more firms e.g., accessing to technical know-how, accessing to financial resources and managing risks. The firms must know about these motivations to encourage for establishing joint venture. So, it is important for managers to understand about these motives. On the other hand, the cooperation section is one of the most effective parts in each country. In this way, our study identifies goals of joint venture between cooperative manufacturing firms, and prioritizes those using TOPSIS1. The results show that the most important of joint venture goals are: accessing to managerial know-how, sharing total capital investment.

Keywords: Cooperative, Joint Venture, TOPSIS

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2153

Authors: Hamed Zolfaghari, Mojtaba Kord

Abstract:

Project planners and controllers are frequently faced with the challenge of inadequate software for the preparation of automatic project progress reports based on actual project information updates. They usually make dashboards in Microsoft Excel, which is local and not applicable online. Another shortcoming is that Microsoft project does not store the data in database, so the data cannot automatically be imported from Microsoft Project into Microsoft Excel. This study aimed to propose a model for the preparation of reports on automatic online project progress based on actual project information updates by the integration of Primavera P6, SQL database, and Power BI (Business Intelligence) for a construction project. The designed model could be applicable to project planners and controller agents by enabling them to prepare project reports automatically and immediately after updating the project schedule using actual information. To develop the model, the data were entered into P6, and the information was stored on the SQL database. The proposed model could prepare a wide range of reports, such as earned value management, Human Resource (HR) reports, and financial, physical, and risk reports automatically on the Power BI application. Furthermore, the reports could be published and shared online.

Keywords: Primavera P6, SQL, Power BI, Earned Value Management, Integration Management.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 401

Authors: M. N. Huda, S. Yamada, N. Sonehara

Abstract:

Probability-based identity disclosure risk measurement may give the same overall risk for different anonymization strategy of the same dataset. Some entities in the anonymous dataset may have higher identification risks than the others. Individuals are more concerned about higher risks than the average and are more interested to know if they have a possibility of being under higher risk. A notation of overall risk in the above measurement method doesn-t indicate whether some of the involved entities have higher identity disclosure risk than the others. In this paper, we have introduced an identity disclosure risk measurement method that not only implies overall risk, but also indicates whether some of the members have higher risk than the others. The proposed method quantifies the overall risk based on the individual risk values, the percentage of the records that have a risk value higher than the average and how larger the higher risk values are compared to the average. We have analyzed the disclosure risks for different disclosure control techniques applied to original microdata and present the results.

Keywords: Anonymization, microdata, disclosure risk, privacy.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1358

Authors: Nader Sh. Kandelousi, Ooi. J., Abdollahi. A

Abstract:

The use and management of projects has risen to a new prominence, with projects seen as critical to economic in both the private and public sectors due challenging and dynamic business environment. However, failure in managing project is encountered regularly, which cause the waste of company resources. The impacts of projects that failed to meet stakeholders expectations have left behind long lasting negative consequences in organization. Therefore, this research aims to investigate on key success factors of project management in an organization. It is believed that recognizing important factors that contribute to successful project will help companies to increase the overall profitability. 150 questionnaires were distributed to respondents and 110 questionnaires were collected and used in performing the data analysis. The result has strongly supported the relationship between independent variables and project performance.

Keywords: Project Performance, Leadership, TopManagement Involvement

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5606

Authors: Phruksaphanrat B.

Abstract:

This research proposes a preemptive fuzzy goal programming model for multi-objective multi-mode resource constrained project scheduling problem. The objectives of the problem are minimization of the total time and the total cost of the project. Objective in a multi-mode resource-constrained project scheduling problem is often a minimization of makespan. However, both time and cost should be considered at the same time with different level of important priorities. Moreover, all elements of cost functions in a project are not included in the conventional cost objective function. Incomplete total project cost causes an error in finding the project scheduling time. In this research, preemptive fuzzy goal programming is presented to solve the multi-objective multi-mode resource constrained project scheduling problem. It can find the compromise solution of the problem. Moreover, it is also flexible in adjusting to find a variety of alternative solutions. 

Keywords: Multi-mode resource constrained project scheduling problem, Fuzzy set, Goal programming, Preemptive fuzzy goal programming.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2750

Authors: Nael Y. Zabel, Maged E. Georgy, Moheeb E. Ibrahim

Abstract:

A knowledge-based expert system with the acronym RASPE is developed as an application tool to help decision makers in construction companies make informed decisions about managing risks in pipeline construction projects. Choosing to use expert systems from all available artificial intelligence techniques is due to the fact that an expert system is more suited to representing a domain’s knowledge and the reasoning behind domain-specific decisions. The knowledge-based expert system can capture the knowledge in the form of conditional rules which represent various project scenarios and potential risk mitigation/response actions. The built knowledge in RASPE is utilized through the underlying inference engine that allows the firing of rules relevant to a project scenario into consideration. Paper provides an overview of the knowledge acquisition process and goes about describing the knowledge structure which is divided up into four major modules. The paper shows one module in full detail for illustration purposes and concludes with insightful remarks.

Keywords: Expert System, Knowledge Management, Pipeline Projects, Risk Mismanagement.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2282

Authors: Babak H. Tabrizi, Seyed Farid Ghaderi

Abstract:

Concurrent planning of project scheduling and material ordering has been increasingly addressed within last decades as an approach to improve the project execution costs. Therefore, we have taken the problem into consideration in this paper, aiming to maximize schedules quality robustness, in addition to minimize the relevant costs. In this regard, a bi-objective mathematical model is developed to formulate the problem. Moreover, it is possible to utilize the all-unit discount for materials purchasing. The problem is then solved by the E-constraint method, and the Pareto front is obtained for a variety of robustness values. The applicability and efficiency of the proposed model is tested by different numerical instances, finally.

Keywords: E-constraint method, material ordering, project management, project scheduling.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2005

Authors: K. N. C. Njoku, Chinwendu Best Eleje, Christian Chukwuemeka Nwandu

Abstract:

One of the problems facing most insurance companies is how best the burden of paying claims to its policy holders can be managed whenever need arises. Hence there is need for the insurer to buy a reinsurance contract in order to reduce risk which will enable the insurer to share the financial burden with the reinsurer. In this paper, the insurer’s and reinsurer’s strategy is investigated under the modified constant elasticity of variance (M-CEV) process and proportional administrative charges. The insurer considered investment in one risky asset and one risk free asset where the risky asset is modeled based on the M-CEV process which is an extension of constant elasticity of variance (CEV) process. Next, a nonlinear partial differential equation in the form of Hamilton Jacobi Bellman equation is obtained by dynamic programming approach. Using power transformation technique and variable change, the explicit solutions of the optimal investment strategy and optimal reinsurance strategy are obtained. Finally, some numerical simulations of some sensitive parameters were obtained and discussed in details where we observed that the modification factor only affects the optimal investment strategy and not the reinsurance strategy for an insurer with exponential utility function.

Keywords: Reinsurance strategy, Hamilton Jacobi Bellman equation, power transformation, M-CEV process, exponential utility.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 302

Authors: Amir Abbas Najafi, Nima Zoraghi, Fatemeh Azimi

Abstract:

Traditionally, project scheduling and material planning have been treated independently. In this research, a mixed integer programming model is presented to integrate project scheduling and materials ordering problems. The goal is to minimize the total material holding and ordering costs. In addition, an efficient metaheuristic algorithm is proposed to solve the model. The proposed algorithm is computationally tested, the results are analyzed, and conclusions are given.

Keywords: Project scheduling, metaheuristic, material ordering, optimization.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1688

Authors: Babak H. Tabrizi, Seyed Farid Ghaderi

Abstract:

Concurrent planning of project scheduling and material ordering can provide more flexibility to the project scheduling problem, as the project execution costs can be enhanced. Hence, the issue has been taken into account in this paper. To do so, a mixed-integer mathematical model is developed which considers the aforementioned flexibility, in addition to the materials quantity discount and space availability restrictions. Moreover, the activities duration has been treated as decision variables. Finally, the efficiency of the proposed model is tested by different instances. Additionally, the influence of the aforementioned parameters is investigated on the model performance.

Keywords: Material ordering, project scheduling, quantity discount, space availability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2365

Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

Abstract:

This study examined the contribution of 36 factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: Cost, overrun, building construction projects, Jordan.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 125

Authors: Mariayee Doraisamy, Suhaimi Bin Ibrahim, Mohd Naz’ri Mahrin

Abstract:

There are several methods to monitor software projects and the objective for monitoring is to ensure that the software projects are developed and delivered successfully. A performance measurement is a method that is closely associated with monitoring and it can be scrutinized by looking at two important attributes which are efficiency and effectiveness both of which are factors that are important for the success of a software project. Consequently, a successful steering is achieved by monitoring and controlling a software project via the performance measurement criteria and metrics. Hence, this paper is aimed at identifying the performance measurement criteria and the metrics for monitoring the performance of a software project by using the Goal Question Metrics (GQM) approach. The GQM approach is utilized to ensure that the identified metrics are reliable and useful. These identified metrics are useful guidelines for project managers to monitor the performance of their software projects.

Keywords: Software project performance, Goal Question Metrics, Performance Measurement Criteria, Metrics.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2504

Authors: Luka Pavlič, Marjan Heričko

Abstract:

E-services have significantly changed the way of doing business in recent years. We can, however, observe poor use of these services. There is a large gap between supply and actual eservices usage. This is why we started a project to provide an environment that will encourage the use of e-services. We believe that only providing e-service does not automatically mean consumers would use them. This paper shows the origins of our project and its current position. We discuss the decision of using semantic web technologies and their potential to improve e-services usage. We also present current knowledge base and its real-world classification. In the paper, we discuss further work to be done in the project. Current state of the project is promising.

Keywords: E-Services, E-Services Repository, Ontologies, Semantic Web

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1393

Authors: Z. Tasir, S. N. Kew, D. West, Z. Abdullah, D. Toohey

Abstract:

Research on Learning Analytics is progressively developing in the higher education field by concentrating on the process of students' learning. Therefore, a research project between Malaysian and Australian Universities was initiated in 2015 to look at the use of Learning Analytics to support the development of teaching practice. The focal point of this article is to discuss and share the experiences of Malaysian and Australian universities in the process of developing the collaborative research on Learning Analytics. Three aspects of this will be discussed: 1) Establishing an international research project and team members, 2) cross-cultural understandings, and 3) ways of working in relation to the practicalities of the project. This article is intended to benefit other researchers by highlighting the challenges as well as the strategies used in this project to ensure such collaborative research succeeds.

Keywords: Academic research project, collaborative research, cross-cultural understanding, international research project.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1477

Authors: M. Takhtravanchi, C. Pathirage

Abstract:

In the construction industry, project members are conveyor of project knowledge which is, often, not managed properly to be used in future projects. As construction projects are temporary and unique, project members are willing to be recruited once a project is completed. Therefore, poor management of knowledge across construction projects will lead to a considerable amount of knowledge loss; the ignoring of which would be detrimental to project performance. This issue is more prominent in projects undertaken through the traditional procurement system, as this system does not incentives project members for integration. Thus, disputes exist between the design and construction phases based on the poor management of knowledge between those two phases. This paper aims to highlight the challenges of the knowledge management that exists within the traditional procurement system. Expert interviews were conducted and challenges were identified and analysed by the Interpretive Structural Modelling (ISM) approach in order to summarise the relationships among them. Two identified key challenges are the Culture of an Organisation and Knowledge Management Policies. A knowledge of the challenges and their relationships will help project manager and stakeholders to have a better understanding of the importance of knowledge management.

Keywords: Challenges, construction industry, knowledge management, traditional procurement system.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1241

Authors: Juha Kettunen

Abstract:

This study presents a project that tests and adjusts active European learning and teaching methods in Indonesian universities to increase their external impact on enterprises and other organizations; it also assesses the implementation of the Erasmus+ projects funded by the European Union. The project is based on the approach of innovation pedagogy that responds to regional development needs and integrates applied research and development projects into education to create capabilities for students to participate in development work after graduation. The assessment of the Erasmus+ project resulted in many improvements that can be made to achieve higher quality and innovativeness. The results of this study are useful for those who want to improve the applied research and development projects of higher education institutions.

Keywords: Higher education, innovations, project management, networks.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1831

Authors: M. J. Xavier, J. Raja, S. Usha Nandhini

Abstract:

For scores of years now, several microfinance organizations, non governmental organizations and other welfare organizations have, with a view to aiding the progress of communities rooted in poverty have been focusing on creating microentrepreneurs, besides taking several other measures. In recent times, business corporations have joined forces to combat poverty by taking up microenterprise development. Hindustan Unilever Limited (HUL), the Indian subsidiary of Unilever Limited exemplifies this through its Project Shakti. The company through the Project creates rural women entrepreneurs by making them direct to home sales distributors of its products in villages that have thus far been ignored by multinational corporations. The members participating in Project Shakti are largely self help group members. The paper focuses on assessing the impact made by the company on the members engaged in Project Shakti. The analysis involves use of quantitative methods to study the effect of Project Shakti on those self help group members engaged in Project Shakti and those not engaged with Project Shakti. Path analysis has been used to study the impact made on those members engaged in Project Shakti. Significant differences were observed on fronts of entrepreneurial development, economic empowerment and social empowerment between members associated with Project Shakti and those not associated with Project Shakti. Path analysis demonstrated that involvement in Project Shakti led to entrepreneurial development resulting in economic empowerment that in turn led to social empowerment and that these three elements independently induced a feeling of privilege in the women for being associated with the Project.

Keywords: Entrepreneurship development, economicempowerment, impact assessment, microentrepreneurs, pathanalysis, social empowerment.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1837

Authors: Karrar Raoof Kareem Kamoona, Enas Fathi Taher AlHares, Zeynep Isik

Abstract:

The various disciplines in the construction industry and the co-existence of the people in the various disciplines are what builds well-developed, closely-knit interpersonal skills at various hierarchical levels thus leading to a varied way of leadership. The varied decision making aspects during the lifecycle of a project include: autocratic, participatory and last but not least, free-rein. We can classify some of the decision makers in the construction industry in a hierarchical manner as follows: project executive, project manager, superintendent, office engineer and finally the field engineer. This survey looked at how decisions are made during the construction period by the key stakeholders in the project. From the paper it is evident that the three decision making aspects can be used at different times or at times together in order to bring out the best leadership decision. A blend of different leadership styles should be used to enhance the success rate during the project lifecycle.

Keywords: Leadership style, construction, decision-making, built environment.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1505

Authors: Faraj El Dabee, Romeo Marian, Yousef Amer

Abstract:

This paper implements the inventory model developed in the first part of this paper in a simplified problem to simultaneously reduce costs and risks in JIT systems. This model is developed to ascertain an optimal ordering strategy for procuring raw materials by using regular multi-external and local backup suppliers to reduce the total cost of the products, and at the same time to reduce the risks arising from this cost reduction within production systems. A comparison between the cost of using the JIT system and using the proposed inventory model shows the superiority of the use of the inventory model.

Keywords: Lean manufacturing, Just-in-Time (JIT), production system, cost-risk reduction, inventory model, eternal supplier, local backup supplier.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1536

Authors: H. Hussain, N. H. Mohamad

Abstract:

Practical experiences have been one of the successful criteria for the Project Management course for the art and design students. There are series of events that the students have to undergo as part of their practical exercises in the learning context for Project Management courses. These series have been divided into few mini programs that involved the whole individual in each group. Therefore, the events have been one of the bench marks for these students. Through the practical experience, the task that has been given to individual has been performed according to the needs of professional practice and ethics.

Keywords: Practical experiences, project management, art and design students, events, programs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1262

Authors: B. Marasović, S. Pivac, S. V. Vukasović

Abstract:

Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.

Keywords: Croatian capital market, Fractional quadratic programming, Markowitz model, Portfolio optimization, Transaction costs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2941

Authors: Nur Atiqah Rochin Demong, Jie Lu, Farookh Khadeer Hussain

Abstract:

Property investment in the real estate industry has a high risk due to the uncertainty factors that will affect the decisions made and high cost. Analytic hierarchy process has existed for some time in which referred to an expert-s opinion to measure the uncertainty of the risk factors for the risk analysis. Therefore, different level of experts- experiences will create different opinion and lead to the conflict among the experts in the field. The objective of this paper is to propose a new technique to measure the uncertainty of the risk factors based on multidimensional data model and data mining techniques as deterministic approach. The propose technique consist of a basic framework which includes four modules: user, technology, end-user access tools and applications. The property investment risk analysis defines as a micro level analysis as the features of the property will be considered in the analysis in this paper.

Keywords: Uncertainty factors, data mining, multidimensional data model, risk analysis.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2907

Authors: Catalin-Teodor Dogaru, Ana-Maria Dogaru

Abstract:

Success means different things for different people. For us, project managers, it becomes even harder to actually find a definition. Many factors have to be included in the evaluation. Moreover, literature is not very helpful, lacking consensus and neutrality. Post-implementation reviews (PIR) can be an efficient tool in evaluating how things worked on a certain project. Despite the visible progress, PIR is not a very detailed subject yet and there is not common understanding in this matter. This may be the reason that some organizations include it in the projects’ lifecycle and some do not. Through this paper, we point out the reasons why all project managers should pay proper attention to this important step and to the elements which can be assessed, beside the already famous triple constraints: cost, budget and time. It is essential to take notice that PIR is not a checklist. It brings the edge in eliminating subjectivity and judging projects based on actual proof. Based on our experience, our success indicator model, presented in this paper, contributes to the success of the project! In the same time, it increases trust among customers who will perceive success more objectively.

Keywords: Project, post-implementation, success, model.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4906