Quantifying economic benefits for rail infrastructure projects

Investment in rail infrastructure is necessary to maintain existing service and to cater for future growth in freight and passenger services. Many communities have realized the importance of investment in rail infrastructure projects and set up goals and visions to achieve economic development through investing in such projects. Due to limited funds available, communities have to select a single or very few projects from a variety of projects. It is very critical that right projects must be selected at the right time for a community to realize economic development. The limited methods for quantifying the economic benefits to the stakeholders often cause a problem in the selection process. Most of the conventional methods focus mainly on the economic impact of the project and ignore the metrics that convey the economic impacts in meaningful ways to the key stakeholders involved. This leads to uncertainty in the project selection and planning process and often leads to failure in achieving the goals of the project. This study aims to provide a mathematical framework that quantifies economic benefits of investment in rail infrastructure projects in meaningful ways to the key stakeholders through three different approaches, namely, Leontief-based approach, Bayesian approach and system dynamics approach. The Leontief-based approach is the easiest of all the three approaches provided that historical data is available. Bayesian approach is also very beneficial as it can be used by coupling small data with surveys and interviews. Also, system dynamics model is very useful to conduct qualitative analysis, but the quantitative analysis part can become very complex --Abstract, page iii

New product development resource forecasting

Forecasting resource requirements for new product development (NPD) projects is essential for both strategic and tactical planning. Sophisticated, elegant planning tools to present data and inform decision-making do exist. However, in NPD, such tools run on unreliable, estimation-based resource information derived through undefined processes. This paper establishes that existing methods do not provide transparent, consistent, timely or accurate resource planning information, highlighting the need for a new approach to resource forecasting, specifically in the field of NPD. The gap between the practical issues and available methods highlights the possibility of developing a novel design of experiments approach to create resource forecasting models

Experiences in Bayesian Inference in Baltic Salmon Management

We review a success story regarding Bayesian inference in fisheries management in the Baltic Sea. The management of salmon fisheries is currently based on the results of a complex Bayesian population dynamic model, and managers and stakeholders use the probabilities in their discussions. We also discuss the technical and human challenges in using Bayesian modeling to give practical advice to the public and to government officials and suggest future areas in which it can be applied. In particular, large databases in fisheries science offer flexible ways to use hierarchical models to learn the population dynamics parameters for those by-catch species that do not have similar large stock-specific data sets like those that exist for many target species. This information is required if we are to understand the future ecosystem risks of fisheries.Comment: Published in at http://dx.doi.org/10.1214/13-STS431 the Statistical Science (http://www.imstat.org/sts/) by the Institute of Mathematical Statistics (http://www.imstat.org

Making Every Dollar Count: How Expected Return Can Transform Philanthropy

Describes the benefits and methods of a quantitative process for evaluating potential program investments -- based on benefit, likelihood of success, the foundation's contribution, and cost -- to maximize return on resources

Artificial Intelligence Applied to Project Success: A Literature Review

Project control and monitoring tools are based on expert judgement and parametric tools. Projects are the means by which companies implement their strategies. However project success rates are still very low. This is a worrying situation that has a great economic impact so alternative tools for project success prediction must be proposed in order to estimate project success or identify critical factors of success. Some of these tools are based on Artificial Intelligence. In this paper we will carry out a literature review of those papers that use Artificial Intelligence as a tool for project success estimation or critical success factor identification

Scientific instruments for climate change adaptation: estimating and optimizing the efficiency of ecosystem service provision

Adaptation to the consequences of climate change can depend on efficient use of ecosystem services (ES), i.e. a better use of natural services through management of the way in which they are delivered to society. While much discussion focuses on reducing consumption and increasing production of services, a lack of scientific instruments has so far prevented other mechanisms to improve ecosystem services efficiency from being addressed systematically as an adaptation strategy. This paper describes new methodologies for assessing ecosystem services and quantifying their values to humans, highlighting the role of ecosystem service flow analysis in optimizing the efficiency of ES provision.Ecosystem services, flow analysis, Bayesian modeling, spatial analysis, Environmental Economics and Policy, Q01, Q54, Q55, Q57,

Innovation and Employability in Knowledge Management Curriculum Design

During 2007/8, Southampton Solent University worked on a Leadership Foundation project focused on the utility of the multi-functional team approach as a vehicle to deliver innovation in strategic and operational terms in higher education (HE). The Task-Orientated Multi-Functional Team Approach (TOMFTA) project took two significant undertakings for Southampton Solent as key areas for investigation, one academic and one administrative in focus. The academic project was the development of an innovative and novel degree programme in knowledge management (KM). The new KM Honours degree programme is timely both in recognition of the increasing importance to organisations of knowledge as a commodity, and in its adoption of a distinctive structure and pedagogy. The methodology for the KM curriculum design brings together student-centred and market-driven approaches: positioning the programme for the interests of students and requirements of employers, rather than just the capabilities of staff; while looking at ways that courses can be delivered with more flexibility, e.g. accelerated and block-mode; with level-differentiated activities, common cross-year content and material that is multi-purpose for use in short courses. In order to permit context at multiple levels in common, a graduate skills strand is taught separately as part of the University’s business-facing education agenda. The KM portfolio offers a programme of practically-based courses integrating key themes in knowledge management, business, information distribution and development of the media. They develop problem-solving, communications, teamwork and other employability skills as well as the domain skills needed by emerging information management technologies. The new courses are built on activities which focus on different aspects of KM, drawing on existing content as a knowledge base. This paper presents the ongoing development of the KM programme through the key aspects in its conception and design

Quantifying Economic Benefits for Rail Infrastructure Projects

This project identifies metrics for measuring the benefit of rail infrastructure projects for key stakeholders. It is important that stakeholders with an interest in community economic development play an active role in the development of the rail network. Economic development activities in both rural and urban settings are essential if a nation is to realize growth and prosperity. Many communities have developed goals and visions to establish an economic development program, but they often fail to achieve their goals due to uncertainties during the project selection and planning process. Communities often select a project from a vast pool of ideas with only limited capital available for investment. Selecting the right project at the right time becomes imperative for economic and community development. This process is significantly hampered by limited methods for quantifying the economic benefit to key stakeholders. Four methodologies are used in this project to determine the most useful tools for quantifying benefit given the availability of data, relevant expertise, and other information