Project portfolio selection problems: a review of models, uncertainty approaches, solution techniques, and case studies

Project portfolio selection has been the focus of many scholars in the last two decades. The number of studies on the strategic process has significantly increased over the past decade. Despite this increasing trend, previous studies have not been yet critically evaluated. This paper, therefore, aims to presents a comprehensive review of project portfolio selection and optimization studies focusing on the evaluation criteria, selection approach, solution approach, uncertainty modeling, and applications. This study reviews more than 140 papers on project portfolio selection research topic to identify the gaps and to present future trends. The findings show that not only the financial criteria but also social and environmental aspects of project portfolios have been focused by researchers in project portfolio selection in recent years. In addition, meta-heuristics and heuristics approach to finding the solution of mathematical models have been the critical research by scholars. Expert systems, artificial intelligence, and big data science have not been considered in project portfolio selection in the previous studies. In future, researchers can investigate the role of sustainability, resiliency, foreign investment, and exchange rates in project portfolio selection studies, and they can focus on artificial intelligence environments using big data and fuzzy stochastic optimization techniques

Construction management abstracts : cumulative abstracts and indexes of journals in construction management, 1983-2000

The purpose of this document is to provide a single source of reference for every paper published in the journals directly related to research in Construction Management. It is indexed by author and keyword and contains the titles, authors, abstracts and keywords of every article from the following journals: • Building Research and Information (BRI) • Construction Management and Economics (CME) • Engineering, Construction and Architectural Management (ECAM) • Journal of Construction Procurement (JCP) • Journal of Construction Research (JCR) • Journal of Financial Management in Property and Construction (JFM) • RICS Research Papers (RICS) The index entries give short forms of the bibliographical citations, rather than page numbers, to enable annual updates to the abstracts. Each annual update will carry cumulative indexes, so that only one index needs to be consulted

Embedding risk management within new product and service development of an innovation and risk management framework and supporting risk processes, for effective risk mitigation : an action research study within the Information and Communication Technology (ICT) Sector

At first glance, innovation and risk management seem like two opposing disciplines with diverse objectives. The former seeks to be flexible and encourages enhanced solutions and new ideas, while the latter can be seen as stifling such innovative thinking. Since there is a failure rate of as many as eight out of every ten products launched, it is perhaps necessary for organisations to consider applying more structured approaches to innovation, in order to better manage risks and to increase the chances of delivering improved goods and services. A risk management approach is well suited to address the challenge of failure, as it focuses not only on the negative impact of risks but also on the opportunities they present. It aligns these with the strategic objectives of the organisation to increase the chances of its success. The research objective of this study was to establish how to embed risk management within the innovation divisions of an organisation to ensure that more efficient products and services are delivered to customers. To achieve this end, action research was conducted in a large organisation operating in a high-technology environment that launches many diverse products and services and rapidly expanding service offerings to other industries. The study took four years to complete and delivered multiple interventions that successfully embedded risk management within the organisation, leading to changed behaviours and double-loop learning. Two main knowledge contributions are offered by the study. Firstly, a generic and empirically validated integrated Innovation and Risk Management Framework (IRMF) is developed and guides new product and service development by considering both best practices and risks. Secondly, a risk dashboard is designed as a design science artefact within the action research cycles, which consolidates all the knowledge that was generated during the study. This is ultimately a visual interface to support stage-gate decision making. Since the context of the study was broad, extensive and complicated, the use of mixed-method research complemented and expanded on the findings by providing another layer of support and validation. This thesis highlights the complexity of innovation and presents the need for an organising framework that will encourage innovation but is sufficiently flexible to cater for diverse needs and risks. The study delivers several other, valuable contributions regarding what, how and why incidents occur within the real-world context of new product and service development. Several generic artefacts, such as risk processes and maturity frameworks, are also developed, which can guide risk and new product and service development practitioners to deliver more efficient product and services. This study offers several novel approaches to evaluating risks and provides practical support and recommendations, addressing shortcomings of fragmented research in similar, but smaller-scale studies that have been conducted in information systems. It is the premise of this research that a much wider number of risks need to be managed as new products and services are developed, than was noted in previous studies. Effective risk management in new product and service development could lead to competitive advantage for organisations by increasing knowledge and facilitating sustainable, informed risk decision-making

Software process improvement as emergent change: a structurational analysis

This thesis differs from the technological perspective of SPI by identifying and analysing the organisational features of process improvement. A theoretical understanding is developed of how and why software process improvements occur and what are the consequences of the change process within a specific case. A packaged information systems organisation forms the basis for a substantive case study. Adding to the growing body of qualitative research, the study takes a critical hermeneutic perspective. In doing so it overcomes some of the criticisms of the interpretive studies especially the need for the research to be reflexive in nature. By looking at SPI as an emergent rather than deterministic activity, the design and action of the change process are shown to be intertwined and shaped by their context. This understanding is based upon a structurational perspective that highlights how the process improvements are enabled and constrained by their context. The work builds on the recent recognition that the improvements can be understood from an organisational learning perspective. Fresh insights to the improvement process are developed by recognising the role of the individual to facilitate or resist the improvement. The understanding gained here can be applied by organisations to enable them to improve the effectiveness of their SPI programmes, and so improve the quality of their software. Lessons are derived that show how software organisations can support the ongoing improvement through recognition of the learning and political aspects of the change by adopting an agile approach to SPI

Understanding Applications of Project Planning and Scheduling in Construction Projects

Construction project life-cycle processes must be managed in a more effective and predictable way to meet project stakeholders’ needs. However, there is increasing concern about whether know-how effectively improves understanding of underlying theories of project management processes for construction organizations and their project managers. Project planning and scheduling are considered as key and challenging tools in controlling and monitoring project performance, but many worldwide construction projects appear to give insufficient attention to effective management and definition of project planning, including preplanning stages. Indeed, some planning issues have been completely overlooked, resulting in unsuccessful project performance. There is a lack of knowledge of, and understanding about, the significance of applications of project planning and scheduling theory in construction projects. Thus, improving such knowledge should be incorporated with new management strategies or tools to improve organizational learning and integration in the context of project planning and scheduling. This implies a need to assess project stakeholders’ understanding on the application of project planning and scheduling theories to practice. The main aim was to study and describe project stakeholders’ perspectives regarding a set of identified criteria comprising aspects assumed to be significant in successful project planning and scheduling. The main research question was developed as follows: What level of understanding do project stakeholders have about the application of project planning and scheduling theories in practices of construction projects? This key question is divided into a number of specific questions concerned with various aspects of project planning and scheduling. Three different questionnaire surveys were considered and designed in order to collect and analyse data relevant to the empirical studies presented and discussed under the scope of this thesis. The study context is Oman. The thesis is based on a summary of five appended papers, of which four represent empirical survey studies. The results form the basis of discussions and reflections, and the four key factors identified are: (1) highlighting management tools needed to improve organizational knowledge and understanding of project planning theories and methods; (2) paying particular consideration to the significant factors (enablers and barriers) impacting project planning and scheduling; (3) identifying project management roles and organizational behaviour in planning and scheduling; and (4) increasing project stakeholders’ awareness of front-end planning for a more successful project execution

Evaluating progress for the implementation of European Union nanotechnology strategies for safe design and responsible innovation of nanomaterials

This study examines the twin themes of risk governance and anticipatory governance to establish whether European Union (EU) risk governance instruments and others such as Responsible Research and Innovation( RRI ) are delivering on their promises for the safe and responsible development of nanomaterials(NM). This is an empirical study that conducts semi-structured interviews with cross-sectoral experts working within nanotechnologies to examine these issues. The main findings identify critical flaws in the principal chemical safety regulations(REACH) due to the lack of specificity for NM safety testing, and the scientifically contested EU definition for NM. Both of which undermine legal authority for enforcing regulatory compliance. Secondly, critical scientific gaps are evident that prevent comprehensive nano-risk analysis of the Environmental, Health and Safety (EHS) implications of NM production. Thirdly, there are indications that the nano industry is seeking to avoid engaging with either product regulation (REACH) or the social-ethical appraisal of NM production. Finally, compounding these deficiencies, the EU does not provide a bespoke overarching EU risk governance framework to scrutinise either the EHS effects or the wider social implications of current and future nano-innovation pathways. In this study, I proposes a novel solution for such a framework centred on a ‘Safety by Social Design’ approach. Its purpose is to facilitate responsible innovation by the societal alignment of nano innovation within an adaptive and integrative risk governance framework. This will serve the purpose of progressing the EU towards a more anticipatory governance approach for nano innovation

Strategies for Improving Correspondent Banking Cross-Border Remittances

Over $25 billion have been levied against banks annually in recent years for infractions and noncompliance with cross-border regulations. Huge costs affect banks\u27 performance, and implementing working strategies that reduce significant costs is valuable. This single case study using systems theory was designed to explore strategies that bank leaders with correspondent banking relationships adapt to reduce costs from penalties and fines in cross-border remittances.Through the process of methodological triangulation, data collected from internal policy and procedural documents supplemented data collected from semistructured interviews. Yin\u27s 5-step qualitative data analysis process of compiling, disassembling, reassembling, interpreting, and concluding was applied to collected data. Emergent themes included developing distinctive cost-reduction strategies, creating unique local bank strategies for an effective cross-border payment system, and using technology as a vital tool to reduce sanction costs. The study may support positive social change affecting individuals, communities, and society by increasing the success of cross-border payments through reduction in the costs of sanctions. Recipients of cross-border remittances benefit from the inflow of funds to cover basic needs such as medicines, education, and living expenses. Governments also benefit in terms of taxes and banks through commissions. The findings from this study may also assist society by supporting efforts to stop illicit international financial flows and combat the financing of terrorism