WorldWideScience

Sample records for cultural portfolio project

  1. The Use of Culture Portfolio Project in a Korean Culture Classroom: Evaluating Stereotypes and Enhancing Cross-Cultural Awareness

    Science.gov (United States)

    Byon, Andrew Sangpil

    2007-01-01

    This paper investigates a case of designing, implementing, and evaluating a semester-long culture portfolio project in a Korean culture class in an American university setting. The paper addresses the following four issues: (1) How does the project help the students gain insights into a particular aspect of Korean culture and encourage them to…

  2. Agile Project Portfolio Management

    DEFF Research Database (Denmark)

    Andersen, Jesper Rank; Riis, Jens Ove; Mikkelsen, Hans

    2005-01-01

    This paper will provide a preliminary introduction to the application of Agile Thinking in management of project portfolio and company development. At any point in time, companies have a crowd of development initiatives spread around the organisation and managed at different levels...... in the managerial hierarchy. They compete for resources and managerial attention, and they often take too long time - and some do not survive in the rapid changing context. Top man¬agers ask for speed, flexibility and effectiveness in the portfolio of development activities (projects). But which competencies...

  3. Project Portfolio Management Applications Testing

    OpenAIRE

    Paul POCATILU

    2006-01-01

    Many IT companies are running project simultaneously. In order to achieve the best results, they have to group to the project in portfolios, and to use specific software that helps to manage them. Project portfolio management applications have a high degree of complexity and they are very important for the companies that are using it. This paper focuses on some characteristics of the testing process for project portfolio management applications

  4. Project Portfolio Management Applications Testing

    Directory of Open Access Journals (Sweden)

    Paul POCATILU

    2006-01-01

    Full Text Available Many IT companies are running project simultaneously. In order to achieve the best results, they have to group to the project in portfolios, and to use specific software that helps to manage them. Project portfolio management applications have a high degree of complexity and they are very important for the companies that are using it. This paper focuses on some characteristics of the testing process for project portfolio management applications

  5. Application of Project Portfolio Management

    Science.gov (United States)

    Pankowska, Malgorzata

    The main goal of the chapter is the presentation of the application project portfolio management approach to support development of e-Municipality and public administration information systems. The models of how people publish and utilize information on the web have been transformed continually. Instead of simply viewing on static web pages, users publish their own content through blogs and photo- and video-sharing slides. Analysed in this chapter, ICT (Information Communication Technology) projects for municipalities cover the mixture of the static web pages, e-Government information systems, and Wikis. So, for the management of the ICT projects' mixtures the portfolio project management approach is proposed.

  6. Selection of a portfolio of R & D projects

    NARCIS (Netherlands)

    Casault, Sébastien; Groen, Arend J.; Linton, J.D.; Linton, Jonathan; Link, A.N.; Vonortas, N.S.

    2013-01-01

    While portfolios of research are increasingly discussed, a portfolio perspective is infrequently taken when selecting two or more projects. Consequently, this chapter considers the current state of knowledge in project and portfolio selection, identifies why we can and cannot apply knowledge from

  7. Improving Project Portfolio Management (PPM) for Improvement Projects

    DEFF Research Database (Denmark)

    Pries-Heje, Jan; Jakobsen, Peter M.; Korsaa, Morten

    2017-01-01

    Project Portfolio Management (PPM) focus on the integration and alignment of projects with the business operation in order to achieve most value and cost-efficiency for the investment in projects. PPM is often a challenge and especially so for improvement projects where PPM is considerably...... of evaluating a portfolio of improvement projects and combine this evaluation with the effect they have on the CMMI maturity level. Further, the paper demonstrates how the combination of a strong senior management requirement for improved maturity and the focus on getting the most value out of PPM made...

  8. Cosmic Visions Dark Energy: Small Projects Portfolio

    Energy Technology Data Exchange (ETDEWEB)

    Dawson, Kyle; Frieman, Josh; Heitmann, Katrin; Jain, Bhuvnesh; Kahn, Steve; Mandelbaum, Rachel; Perlmutter, Saul; Slosar, Anže

    2018-02-20

    Understanding cosmic acceleration is one of the key science drivers for astrophysics and high-energy physics in the coming decade (2014 P5 Report). With the Large Synoptic Survey Telescope (LSST) and the Dark Energy Spectroscopic Instrument (DESI) and other new facilities beginning operations soon, we are entering an exciting phase during which we expect an order of magnitude improvement in constraints on dark energy and the physics of the accelerating Universe. This is a key moment for a matching Small Projects portfolio that can (1) greatly enhance the science reach of these flagship projects, (2) have immediate scientific impact, and (3) lay the groundwork for the next stages of the Cosmic Frontier Dark Energy program. In this White Paper, we outline a balanced portfolio that can accomplish these goals through a combination of observational, experimental, and theory and simulation efforts.

  9. Towards rethinking Project portfolio management

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Svejvig, Per

    the last five years. Utilizing the theoretical lens proposed by Svejvig and Andersen (2015), we apply two complementary analytical perspectives to classify and analyze the stocks. One perspective, denoted as classical project management (CPM), highlights key characteristics of conventional research....... A second perspective, denoted as rethinking project management (RPM), highlights characteristics of progressive research. Not surprisingly, characteristics from CPM are very dominant in the stock of most cited publications of all years — instrumentality and controllability in particular. In the newest...

  10. Strategic Context of Project Portfolio Management

    Directory of Open Access Journals (Sweden)

    Nedka Nikolova

    2016-06-01

    Full Text Available In 2014 Bulgaria entered its second programming period (2014-2020 which opened a new stage in the development of project management in our country. Project-oriented companies are entering a new stage in which based on experience and increased design capacity they will develop their potential and will accelerate growth. This poses new challenges for science and business to identify strategic opportunities and formulation of project objectives, programs and portfolios of projects that will increase the competitive potential of companies and the economy as a whole. This article is an expression of the shared responsibility of science to develop the scientific front to solve methodologically difficult and practically new tasks that are derived from the needs to increase the competitive potential of the business-based project approach. The main objective of this study is based on the systematization of the results of theoretical research and development of methodology of Project Portfolio Management to explore the opportunities for its application in Bulgarian industrial companies.

  11. Methods of Choosing an Optimal Portfolio of Projects

    OpenAIRE

    Yakovlev, A.; Chernenko, M.

    2016-01-01

    This paper presents an analysis of existing methods for a portfolio of project optimization. The necessity for their improvement is shown. It is suggested to assess the portfolio of projects on the basis of the amount in the difference between the results and costs during development and implementation of selected projects and the losses caused by non-implementation or delayed implementation of projects that were not included in the portfolio. Consideration of capital and current costs compon...

  12. Strategic leadership of portfolio and project management

    CERN Document Server

    Kloppenborg, Timothy J

    2014-01-01

    As an executive in today's economy, your organization may have limited resources and bench strength. How can you and other leaders make the most of your company's assets? This book will instruct you and your leadership teams on implementing strategy through identifying, selecting, prioritizing, resourcing, and governing an optimal combination of projects and other work. Inside, you'll learn how to sponsor every project stage, as well as instruct your project managers and direct reports to follow your lead. Detailed advice is given for project management competency on utilizing input from customers, employees, and processes. Much of your organization's work is probably dependent on information technology and understanding and using information technology as a strategic weapon, and with this book, you'll learn how your organization can become competitive and how to effectively implement smart business strategies. This book outlines how these portfolio and project decisions have to be made based on both qualitat...

  13. Integrating Project Portfolio With Business Strategy: Imagineering

    Directory of Open Access Journals (Sweden)

    Cesar Buaes Dal Maso

    2015-12-01

    Full Text Available Aligning project management to the strategy of a big company is a difficult job. Through Imagineering (the business department and project management program, The Walt Disney Company has done this alignment in an exemplary way. Using a theoretical investigation, this study analyzed the Imagineering as a reference in strategic management of global projects through Disney´s business portfolio, a global benchmarking and with Malmberg et al. (2010 as a company guide. As the main results of the correlations carried out, it was noted that the Imagineers who work in project teams apply tools and techniques with a strategic vision focused on differentiation, generating value, and mixing imagination with technical capacity. The Blue Sky department and its integrated units make possible the creation and deployment of the attractions, the theme parks, hotels, resorts and the Disney sea cruises, demonstrating in this way, to be a highly effective project management office.

  14. Relationships Between Risks in an IT Project Development Portfolio

    NARCIS (Netherlands)

    Kusters, R.J.; Postema, J.J.; Trienekens, J.J.M.; Lavazza, L.; Oberhauser, R.; Martin, A.; Hassine, J.; Gebhart, M.; Jäntti, M.

    2013-01-01

    More and more it is seen that IT (Information Technology) projects are managed as a whole as part of a IT project portfolio. As one of the arguments for doing so, risk management at the portfolio level was identified as one of the advantages that could benefit from this. This was based on the notion

  15. Discourses and Theoretical Assumptions in IT Project Portfolio Management

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Kræmmergaard, Pernille

    2014-01-01

    DISCOURSES AND THEORETICAL ASSUMPTIONS IN IT PROJECT PORTFOLIO MANAGEMENT: A REVIEW OF THE LITERATURE These years increasing interest is put on IT project portfolio management (IT PPM). Considering IT PPM an interdisciplinary practice, we conduct a concept-based literature review of relevant...

  16. LINKING PROJECTS TO BUSINESS STRATEGY THROUGH PROJECT PORTFOLIO MANAGEMENT

    Directory of Open Access Journals (Sweden)

    A.J. Buys

    2012-01-01

    Full Text Available

    ENGLISH ABSTRACT: In many organisations, a chasm exists between the development of strategy and its successful implementation. Failure to cross this chasm may ultimately result in strategy failure and the loss of competitive advantage, profits, and employment. Project Portfolio Management (PPM is theorised as a management methodology that links a portfolio of projects to the business strategy. However, current literature lacks empirical evidence of the levels of employment, functionality, and success of the Project Portfolio Management approach in South Africa. A survey of respondents in 32 technology organisations was used to analyze the reasons for the following: strategy implementation and project delivery failure in South African technology organisations; the South African situation regarding the chasm that exists in many organisations between strategy development and successful strategy implementation; and the extent to which – and with what success – Project Portfolio Management is employed in South African technology organisations.

    AFRIKAANSE OPSOMMING: In baie organisasies bestaan daar ’n gaping tussen strategie-ontwikkeling en suksesvolle strategie-implementering. Die onvermoë om die gaping te oorbrug sal uiteindelik lei tot strategiefaling en die verlies van mededingende voordeel, winste, en werksgeleenthede. Projekportefeuljebestuur (PPB word voorgehou as ’n bestuursmetodologie wat ’n portefeulje van projekte koppel aan die besigheidstrategie. Bestaande literatuur gaan egter mank aan empiriese bewyse ten opsigte van die vlakke van indiensneming, funksionaliteit, en sukses van die Projekportefeuljebestuursbenadering in Suid-Afrika. ’n Opname van respondente in 32 tegnologie-organisasies is gebruik om die volgende aspekte te ondersoek: die redes vir falings in strategie-implementering en projekaflewering in Suid-Afrikaanse tegnologie-organisasies; die Suid-Afrikaanse situasie rakende die gaping wat bestaan tussen

  17. Successful healthcare programs and projects: organization portfolio management essentials.

    Science.gov (United States)

    Pickens, Scott; Solak, Jamie

    2005-01-01

    Many healthcare organization projects take more time and resources than planned and fail to deliver desired business outcomes. Healthcare IT is a major component of many projects and often undeservedly receives the blame for failure. Poor results are often not a result of faulty healthcare IT or poor project management or poor project execution alone. Many projects fail because of poor portfolio management--poor planning and management of the portfolio of initiatives designed to meet an organization's strategic goals. Because resources are limited, portfolio management enables organizations to more strategically allocate and manage their resources so care delivery, service delivery, and initiatives that advance organizations toward their strategic goals, including healthcare IT initiatives, can be accomplished at the levels of quality and service desired by an organization. Proper portfolio management is the essential foundation for program and project success and supports overall organization success. Without portfolio management, even programs and projects that execute flawlessly may not meet desired objectives. This article discusses the essential requirements for porfolio management. These include opportunity identification, return on investment (ROI) forecast, project prioritization, capacity planning (inclusive of human, financial, capital, and facilities resources), work scheduling, program and project management and execution, and project performance and value assessment. Portfolio management is essential to successful healthcare project execution. Theories are drawn from the Organizational Project Management Maturity Model (OPM3) work of the Project Management Institute and other leading strategy, planning, and organization change management research institutes.

  18. Project Portfolio Risk Identification and Analysis, Considering Project Risk Interactions and Using Bayesian Networks

    Directory of Open Access Journals (Sweden)

    Foroogh Ghasemi

    2018-05-01

    Full Text Available An organization’s strategic objectives are accomplished through portfolios. However, the materialization of portfolio risks may affect a portfolio’s sustainable success and the achievement of those objectives. Moreover, project interdependencies and cause–effect relationships between risks create complexity for portfolio risk analysis. This paper presents a model using Bayesian network (BN methodology for modeling and analyzing portfolio risks. To develop this model, first, portfolio-level risks and risks caused by project interdependencies are identified. Then, based on their cause–effect relationships all portfolio risks are organized in a BN. Conditional probability distributions for this network are specified and the Bayesian networks method is used to estimate the probability of portfolio risk. This model was applied to a portfolio of a construction company located in Iran and proved effective in analyzing portfolio risk probability. Furthermore, the model provided valuable information for selecting a portfolio’s projects and making strategic decisions.

  19. Portfolio management for investment projects in the construction industry

    Directory of Open Access Journals (Sweden)

    Kozlov Alexander

    2017-01-01

    Full Text Available The Russian business community has realized the need for project/targeted programme management procedures; therefore, the demand for customized project-oriented management methods goes up. In the meantime, this demand is not supplied in full, and the supply is far from being efficient. Project management methodologies need further improvement, including development of portfolio management processes applicable to investment projects developed and implemented in the construction industry. The article considers General approaches to the formalization of the management of portfolios of investment–construction projects. For the main groups of processes portfolio management (“Formation and alignment”, “Monitoring and control” and “Support and development” deals with their constituent sub-processes. The proposed decomposition can be used for both portfolio construction and investment projects and also has an invariant character, which allows extending the proposed approaches to other system target–oriented and project–oriented management.

  20. A portfolio evaluation framework for air transportation improvement projects

    Science.gov (United States)

    Baik, Hyeoncheol

    This thesis explores the application of portfolio theory to the Air Transportation System (ATS) improvement. The ATS relies on complexly related resources and different stakeholder groups. Moreover, demand for air travel is significantly increasing relative to capacity of air transportation. In this environment, improving the ATS is challenging. Many projects, which are defined as technologies or initiatives, for improvement have been proposed and some have been demonstrated in practice. However, there is no clear understanding of how well these projects work in different conditions nor of how they interact with each other or with existing systems. These limitations make it difficult to develop good project combinations, or portfolios that maximize improvement. To help address this gap, a framework for identifying good portfolios is proposed. The framework can be applied to individual projects or portfolios of projects. Projects or portfolios are evaluated using four different groups of factors (effectiveness, time-to-implement, scope of applicability, and stakeholder impacts). Portfolios are also evaluated in terms of interaction-determining factors (prerequisites, co-requisites, limiting factors, and amplifying factors) because, while a given project might work well in isolation, interdependencies between projects or with existing systems could result in lower overall performance in combination. Ways to communicate a portfolio to decision makers are also introduced. The framework is unique because (1) it allows using a variety of available data, and (2) it covers diverse benefit metrics. For demonstrating the framework, an application to ground delay management projects serves as a case study. The portfolio evaluation approach introduced in this thesis can aid decision makers and researchers at universities and aviation agencies such as Federal Aviation Administration (FAA), National Aeronautics and Space Administration (NASA), and Department of Defense (DoD), in

  1. PROJECT PORTFOLIO SELECTION COMPETENCES RESEARCH INUNIVERSITIES OF LITHUANIA

    OpenAIRE

    R #363;ta #268;iutien #279;; Evelina Meilien #279;; Bronius Neverauskas

    2011-01-01

    As a result of the theoretical findings, the paperdemonstrates that projectportfolio selection is crucial project management problem. Successful ProjectPortfolio management requires specific competences.Every project of projectportfolio must be evaluated according to the basedcriteria and parameters.Empirical study was based on framework matrix withfour parameters of projectportfolio selection and only two phases of projectportfolio formation. The r...

  2. Managing Uncertainty and Conflict in IT Project Portfolio Management

    DEFF Research Database (Denmark)

    Pedersen, Keld; Agger Nielsen, Jeppe

    2011-01-01

    Maximizing the outcome of IT project investments has been a major concern for years. Several approaches have been suggested one of them being Project Portfolio Management (PPM). Even though PPM offers valuable techniques for aligning IT project portfolios with organizational needs and maximizing...... rational decision-making ideals and incorporating other decision-making styles more aligned with decision-making practices in organizations might ease PPM implementation and improve the outcome of systematic PPM efforts. The research is based upon a multisite case study from public sector organizations...

  3. 2018 DOE Solid-State Lighting Project Portfolio

    Energy Technology Data Exchange (ETDEWEB)

    None

    2018-01-31

    The 2018 Solid-State Lighting Project Portfolio provides an overview of all SSL projects that have been funded by DOE since 2000. Projects that were active during 2017 are found in the main body of this report, and all historic projects can be found in the appendix. Within these sections, project profiles are sorted by technology type (i.e., LED or OLED) and then by performer name. A profile is provided on each project. Each profile includes a brief technical description, as well as information about project partners, funding, and the research period. This report is updated annually, although the research described in the Portfolio changes periodically as new projects are initiated and existing ones are concluded.

  4. Shedding New Light on Project Portfolio Risk Management

    Directory of Open Access Journals (Sweden)

    Mariusz Hofman

    2017-10-01

    Full Text Available This paper constitutes an innovative attempt to analyse the risks and negative phenomena dependencies within a project portfolio. Based on the available literature, the risks and negative phenomena (that is, the problems with the availability of resources, interpersonal conflicts, irregularities in the portfolio balance, etc. specific to a project portfolio were identified. Theoretical constructs were then used to connect the identified risks with the negative phenomena. Structural equations were used to confirm the existence and quality of these constructs, as well as models describing connections between phenomena. The determination of the structural equations also provided a setting in which statistical methods (χ2, RMSEA and CFI could be used to investigate the level of fit of the constructs and models to the empirical data.

  5. Using Project Portfolio Management in a Junior Enterprise Technology

    Directory of Open Access Journals (Sweden)

    RIBEIRO, D. M.

    2011-06-01

    Full Text Available Junior Enterprises have their own particularities in managing of their projects. Scarcity of resources and lack of experience of its members are critics and typical factors in the daily life of these companies. However, these and other variables such as the time for return on investment, project complexity and runtime of the project, must be taken into consideration in the prioritization of the outstanding portfolio projects to maximize desired outcomes. The Portfolio Management aims to provide the company a better allocation of resources in an environment with multiple projects going simultaneously. The model proposed here seeks a link between projects and organizational strategy. In this Paper also are presented the results of applying the model on Upe consultoria JR.

  6. Organizations, projects and culture

    NARCIS (Netherlands)

    J. van Cleeff; Pieter van Nispen tot Pannerden

    2016-01-01

    Purpose: to explore and demonstrate the effects of organizational culture on projects, in particular project culture and project management style. Methodology/approach: descriptive and explorative; through students’ groups. Findings: the cultural relationship between organizations, their projects

  7. Exploring International Investment through a Classroom Portfolio Simulation Project

    Science.gov (United States)

    Chen, Xiaoying; Yur-Austin, Jasmine

    2013-01-01

    A rapid integration of financial markets has prevailed during the last three decades. Investors are able to diversify investment beyond national markets to mitigate return volatility of a "pure domestic portfolio." This article discusses a simulation project through which students learn the role of international investment by managing…

  8. Exploring the Project Portfolio Manager's Role : Between a Data Manager and a Strategic Advisor

    NARCIS (Netherlands)

    Filippov, S.; Van der Weg, R.; Van Ogtrop, F.; Beelen, P.; Mooi, H.

    2014-01-01

    Many companies adopt project portfolio management processes to manage multi-project environments effectively and efficiently. One of the key roles in this process is assigned to the project portfolio manager. This role is formally defined in various guidelines and standards of portfolio management.

  9. Teaching empirical finance courses: A project on portfolio management

    Directory of Open Access Journals (Sweden)

    Bruce Morley

    2016-12-01

    Full Text Available The aim of this article was to assess the use of a group-based project for an empirical finance type of course. It examines the outline of the project, the methodology the students are encouraged to follow and how the course is assessed. This approach enables the students to apply many of the techniques learnt on this course and other courses such as econometrics, to determine an optimal portfolio of assets given their view on the risks in the economy. The emphasis is on risk management through portfolio diversification and the use of a simple hedge strategy. The overall aim was to introduce the students to the basics of portfolio management, as many work in this industry for their industrial placements and when they graduate. The main contribution to the literature is through the analysis of an empirically based portfolio management project. The feedback from the students suggests they felt that they had learnt useful concepts and information, in an enjoyable exercise.

  10. Selecting Large Portfolios of Social Projects in Public Organizations

    Directory of Open Access Journals (Sweden)

    Igor Litvinchev

    2014-01-01

    Full Text Available We address the portfolio selection of social projects in public organizations considering interdependencies (synergies affecting project funds requirements and tasks. A mixed integer linear programming model is proposed incorporating the most relevant aspects of the problem found in the literature. The model supports both complete (all or nothing and partial (a certain amount from a given interval of funding resource allocation policies. Numerical results for large-scale problem instances are presented.

  11. 2015 Project Portfolio: Solid-State Lighting

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2015-01-30

    Overview of SSL projects currently funded by DOE, and those previously funded but since completed. Each profile includes a brief technical description, as well as information about project partners, funding, and the research period. This report is updated annually.

  12. 2017 Project Portfolio: Solid-State Lighting

    Energy Technology Data Exchange (ETDEWEB)

    None

    2017-01-02

    Overview of SSL projects currently funded by DOE, and those previously funded but since completed. Each profile includes a brief technical description, as well as information about project partners, funding, and the research period. This report is updated annually.

  13. PORTFOLIO COMMUNICATION BASE OF PROJECT ORIENTED ORGANIZATION

    Directory of Open Access Journals (Sweden)

    Тетяна Віталіївна РОМАНІВ

    2015-06-01

    Full Text Available It is proposed a tool for overcoming communication barriers that arise between all stakeholders in the implementation of complex projects where the company understands the limits and properties of own resources as well as the construction of communication noise to a minimum, taking into account the plans, performance indicators and received projections in fact the project.

  14. ANALYSIS OF PROJECT PORTFOLIO MANAGEMENT MATURITY: THE CASE OF A SMALL FINANCIAL INSTITUTION

    Directory of Open Access Journals (Sweden)

    Karoline Doro Alves Carneiro

    2012-04-01

    Full Text Available This study explores the implementation of project portfolio management in the organizational context. The objective is to analyze the methodology of project portfolio management adopted by an organization based in the project portfolio management maturity model proposed by Rad and Levin (2006. We developed an exploratory case study in a small financial institution that experienced problems with the implementation of its methodology in project portfolio management. As a result of study, we found that the organization has maturity level 2 in portfolio project management, and that some methodology aspects are not appropriate at this level.

  15. Project Portfolio Management: An Investigation of One Air Force Product Center

    National Research Council Canada - National Science Library

    Edmunds, Bryan D

    2005-01-01

    .... This research focuses on the portfolio management (project selection and resource allocation) part of the CTRRP. The purpose of this research effort was to investigate the use of portfolio management within the Air Force...

  16. Portfolio Assessment of an Undergraduate Group Project

    Science.gov (United States)

    Kuisma, Raija

    2007-01-01

    Students in the Physiotherapy Programme carried out a group project in their final year of studies. The objectives of the project were that the students learn and appreciate the process and activities involved in research, acquire deeper understanding of a topic in their professional interest, learn to work as a team, manage their own time,…

  17. IT PROJECT PORTFOLIO MANAGEMENT: MODULARITY PROBLEMS IN A PUBLIC ORGANIZATION

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Mengiste, Shegaw Anagaw

    2012-01-01

    As today’s public and private sector organizations heavily rely on Information Technology (IT) to provide faster cycle times and better services, IT Project Portfolio Management (IT PPM) has become a high priority issue. This research adopts engaged scholarship to investigate IT PPM practices...... within a large local government. The investigation applies Modularity theory to analyze rich data from the local government covering several units with quite diverse functions to address the following two questions (1) which modularity problems does a public organization have in its IT PPM practices...... suggest a model addressing the identified problems by organizing IT PPM in three modules connected by three gateways. These results may be used to inform further research into IT PPM and to help managers improve IT PPM practices in public organizations. Keywords: IT Project Portfolio Management (IT PPM...

  18. Clean development mechanism projects and portfolio risks

    International Nuclear Information System (INIS)

    Matsuhashi, Ryuji; Fujisawa, Sei; Mitamura, Wataru; Momobayashi, Yutaka; Yoshida, Yoshikuni

    2004-01-01

    Clean development mechanism (CDM) is expected to facilitate technology transfer from developed to developing countries as well as to economically reduce greenhouse gas emissions. In this article, we explore effective institutions to activate CDM projects. For this purpose, we have estimated internal rate of return (IRR) and other indicators on profitability for 42 CDM or JI projects, taking account of volatilities in the price of certified emission reductions (CER). As a result of Monte Carlo simulations, expected values and standard deviations in the IRR of the projects were quantitatively shown. Then we evaluated various risks in CDM, concluding that diversification of investment is an effective way to suppress these risks. Therefore securitization of CDM finance is proposed as a means of facilitating the diversification of investment. Namely, we present the concept of a CDM bond, which is a project bond with CER. We also investigated the role of governments to suppress risks in CDM. Referring to CERUPT, initiated by the Netherlands' government, the institution of 'insured CERUPT' is proposed to suppress downside risks in the IRR of the projects. We concluded that it is possible to make CDM projects viable by the 'insured CERUPT' and CDM bond

  19. NPD project portfolio selection using reinvestment strategy in competitive environment

    Directory of Open Access Journals (Sweden)

    Alireza Ghassemi

    2018-01-01

    Full Text Available This study aims to design a new model for selecting most fitting new product development projects in a pool of projects. To catch the best model, we assume new products will be introduced to the competitive markets. Also, we suppose the revenue yielded by completed projects can be reinvested on implementation of other projects. Other sources of financing are borrowing loans from banks and initial capital of the firm. These limited resources determine most evaluated projects to be performed. Several types of interactions among different projects are considered to make the chosen projects more like a portfolio. In addition, some numerical examples from the real world are provided to demonstrate the applicability of the proposed model. These examples show how the particular considerations in the suggested model affect the results.

  20. Public Project Portfolio Optimization under a Participatory Paradigm

    Directory of Open Access Journals (Sweden)

    Eduardo Fernandez

    2013-01-01

    Full Text Available A new democracy paradigm is emerging through participatory budgeting exercises, which can be defined as a public space in which the government and the society agree on how to adapt the priorities of the citizenship to the public policy agenda. Although these priorities have been identified and they are likely to be reflected in a ranking of public policy actions, there is still a challenge of solving a portfolio problem of public projects that should implement the agreed agenda. This work proposes two procedures for optimizing the portfolio of public actions with the information stemming from the citizen participatory exercise. The selection of the method depends on the information about preferences collected from the participatory group. When the information is sufficient, the method behaves as an instrument of legitimate democracy. The proposal performs very well in solving two real-size examples.

  1. Current industrial practice of managing risks in product development project portfolios

    DEFF Research Database (Denmark)

    Weng, R.; Oehmen, Josef; Ben-Daya, M.

    2013-01-01

    Managing portfolios of development and engineering projects currently presents significant challenges to companies. This is even more the case in the management of portfolio risks, where both industry and academia currently lack a clear conceptual understanding of what portfolio risks are and what...

  2. Teaching empirical finance courses: A project on portfolio management

    OpenAIRE

    Morley, Bruce

    2016-01-01

    The aim of this article was to assess the use of a group-based project for an empirical finance type of course. It examines the outline of the project, the methodology the students are encouraged to follow and how the course is assessed. This approach enables the students to apply many of the techniques learnt on this course and other courses such as econometrics, to determine an optimal portfolio of assets given their view on the risks in the economy. The emphasis is on risk management throu...

  3. IT Project Portfolio Management; Challenges faced by Danish municipalities

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian

    2010-01-01

    Abstract. Increasing the organizational benefits from IT projects is a key concern in most organizations. The use of Project Portfolio Management (PPM) is generally recommended by consultants (e.g. Kaplan 2005) and researchers (e.g. De Reyck et al 2005) as one way of increasing the organizational...... benefits from IT investments. This article reports from an action research project aiming at understanding and improving IT PPM practices in Danish municipalities, thereby contributing to the general body of knowledge concerning PPM of IT projects. Our findings suggest that the participating organizations...... might benefit from a structured approach as suggested by the literature (e.g. Kaplan 2005), but also that the prescriptive PPM literature in some areas is too simplistic when compared to the reality faced by the participating practitioners. Especially, our research suggests that different PPM elements...

  4. A Multiagent Evolutionary Algorithm for the Resource-Constrained Project Portfolio Selection and Scheduling Problem

    Directory of Open Access Journals (Sweden)

    Yongyi Shou

    2014-01-01

    Full Text Available A multiagent evolutionary algorithm is proposed to solve the resource-constrained project portfolio selection and scheduling problem. The proposed algorithm has a dual level structure. In the upper level a set of agents make decisions to select appropriate project portfolios. Each agent selects its project portfolio independently. The neighborhood competition operator and self-learning operator are designed to improve the agent’s energy, that is, the portfolio profit. In the lower level the selected projects are scheduled simultaneously and completion times are computed to estimate the expected portfolio profit. A priority rule-based heuristic is used by each agent to solve the multiproject scheduling problem. A set of instances were generated systematically from the widely used Patterson set. Computational experiments confirmed that the proposed evolutionary algorithm is effective for the resource-constrained project portfolio selection and scheduling problem.

  5. A proposed selection process in Over-The-Top project portfolio management

    Directory of Open Access Journals (Sweden)

    Jemy Vestius Confido

    2018-05-01

    Full Text Available Purpose: The purpose of this paper is to propose an Over-The-Top (OTT initiative selection process for communication service providers (CSPs entering an OTT business. Design/methodology/approach: To achieve this objective, a literature review was conducted to comprehend the past and current practices of the project (or initiative selection process as mainly suggested in project portfolio management (PPM. This literature was compared with specific situations and the needs of CSPs when constructing an OTT portfolio. Based on the contrast between the conventional project selection process and specific OTT characteristics, a different selection process is developed and tested using group model-building (GMB, which involved an in-depth interview, a questionnaire and a focus group discussion (FGD. Findings: The paper recommends five distinct steps for CSPs to construct an OTT initiative portfolio: candidate list of OTT initiatives, interdependency diagram, evaluation of all interdependent OTT initiatives, evaluation of all non-interdependent OTT initiatives and optimal portfolio of OTT initiatives. Research limitations/implications: The research is empirical, and various OTT services are implemented; the conclusion is derived only from one CSP, which operates as a group. Generalization of this approach will require further empirical tests on different CSPs, OTT players or any firms performing portfolio selection with a degree of interdependency among the projects. Practical implications: Having considered interdependency, the proposed OTT initiative selection steps can be further implemented by portfolio managers for more effective OTT initiative portfolio construction. Originality/value: While the previous literature and common practices suggest ensuring the benefits (mainly financial of individual projects, this research accords higher priority to the success of the overall OTT initiative portfolio and recommends that an evaluation of the overall

  6. Visuals Matter! Designing and using effective visual representations to support project and portfolio decisions

    DEFF Research Database (Denmark)

    Geraldi, Joana; Arlt, Mario

    . They can help managers to be sharper and quicker, especially if visuals are used in a mindful manner. The intent of this book is to increase the awareness of project, program and portfolio practitioners and scholars about the importance of visuals and to provide practical recommendations on how they can......This book is the result of a two-year research project, funded by Project Management Institute and University College London on data visualization in the project and portfolio management contexts. Visuals are powerful and constitute an integral part of analyzing problems and making decisions...... be used and designed mindfully. The research, which underpins this book, focuses on the impact of visuals on cognition of data in project portfolio decisions. The complexity of portfolio problems often exceed human cognitive limitations as a result of a number of factors, such as the large number...

  7. Confident and "wrong"? Towards a mindful use of visuals in project portfolio decisions

    DEFF Research Database (Denmark)

    Geraldi, Joana; Arlt, Mario

    Portfolios exhibit a degree of complexity that easily exceeds the human ability to achieve optimal decisions through mere intuition. Making sense of this complexity involves a wise use of larger quantity of data. Visuals can help the analysis of more data through different perspectives. Yet......, visuals can also aggravate the challenges involved in portfolio decisions. Inspired by Weick and Sufcliffe’s concept of mindfulness, we conducted an experiment with 204 participants to explore how to use visual mindfully in project portfolio context. The results suggest that use of purposeful and familiar...

  8. Learning through a portfolio of carbon capture and storage demonstration projects

    Science.gov (United States)

    Reiner, David M.

    2016-01-01

    Carbon dioxide capture and storage (CCS) technology is considered by many to be an essential route to meet climate mitigation targets in the power and industrial sectors. Deploying CCS technologies globally will first require a portfolio of large-scale demonstration projects. These first projects should assist learning by diversity, learning by replication, de-risking the technologies and developing viable business models. From 2005 to 2009, optimism about the pace of CCS rollout led to mutually independent efforts in the European Union, North America and Australia to assemble portfolios of projects. Since 2009, only a few of these many project proposals remain viable, but the initial rationales for demonstration have not been revisited in the face of changing circumstances. Here I argue that learning is now both more difficult and more important given the slow pace of deployment. Developing a more coordinated global portfolio will facilitate learning across projects and may determine whether CCS ever emerges from the demonstration phase.

  9. New Method of Selecting Efficient Project Portfolios in the Presence of Hybrid Uncertainty

    Directory of Open Access Journals (Sweden)

    Bogdan Rębiasz

    2016-01-01

    Full Text Available A new methods of selecting efficient project portfolios in the presence of hybrid uncertainty has been presented. Pareto optimal solutions have been defined by an algorithm for generating project portfolios. The method presented allows us to select efficient project portfolios taking into account statistical and economic dependencies between projects when some of the parameters used in the calculation of effectiveness can be expressed in the form of an interactive possibility distribution and some in the form of a probability distribution. The procedure for processing such hybrid data combines stochastic simulation with nonlinear programming. The interaction between data are modeled by correlation matrices and the interval regression. Economic dependences are taken into account by the equations balancing the production capacity of the company. The practical example presented indicates that an interaction between projects has a significant impact on the results of calculations. (original abstract

  10. STRATEGIC PROJECT MANAGEMENT PRINCIPLES, PROGRAMS AND PORTFOLIOS OF THE MEDICAL INSTITUTION

    Directory of Open Access Journals (Sweden)

    Елена Борисовна ДАНЧЕНКО

    2017-03-01

    Full Text Available The article gives a brief overview of the latest research in the direction of the use of the project-based approach to the management of medical institutions. It is shown that medicine today is a project-oriented area, and modern scientific studies suggest the use of not only the project management approach and portfolio management. The various scientific sources proposed the classification of projects of medical institutions, mechanisms of formation of projects portfolios of such institutions. The concept of integrated management of medical institutions, which includes strategic, project, portfolio, program management approach (S3P-concept, is offered. According to this concept, the process of S3P-management of the medical institution will include four stages, which are closely interrelated. For the first time, the pair principles of S3P-management are formulated. The proposed concept and principles of S3P-management of medical institution require further development and creating of models, methods and integrated management tools, as well as the development of a system of indicators verify compliance with the organization's strategy of its projects, projects portfolios and programs. This concept and the proposed integrated management principles are universal and can be applied to any project-oriented area.

  11. MODEL OF DISTRIBUTION OF THE BUDGET OF THE PORTFOLIO OF IT PROJECTS TAKING IN-TO ACCOUNT THEIR PRIORITY

    Directory of Open Access Journals (Sweden)

    Anita V. Sotnikova

    2015-01-01

    Full Text Available Article is devoted to a problem of effective distribution of the general budget of a portfolio between the IT projects which are its part taking into ac-count their priority. The designated problem is actual in view of low results of activity of the consulting companies in the sphere of information technologies.For determination of priority of IT projects the method of analytical networks developed by T. Saati is used. For the purpose of application of this method the system of criteria (indicators reflecting influence of IT projects of a portfolio on the most significant purposes of implementation of IT projects of a portfolio is developed. As system of criteria the key indicators of efficiency defined when developing the Balanced system of indicators which meet above-mentioned requirements are used. The essence of a method of analytical net-works consists in paired comparison of key indicators of efficiency concerning the purpose of realization of a portfolio and IT projects which are a part of a portfolio. Result of use of a method of analytical networks are coefficients of priority of each IT project of a portfolio. The received coefficients of priority of IT projects are used in the offered model of distribution of the budget of a portfolio between IT projects. Thus, the budget of a portfolio of IT projects is distributed between them taking into account not only the income from implementation of each IT project, but also other criteria, important for the IT company, for example: the degree of compliance of the IT project to strategic objectives of the IT company defining expediency of implementation of the IT project; the term of implementation of the IT project determined by the customer. The developed model of distribution of the budget of a portfolio between IT projects is approved on the example of distribution of the budget between IT projects of the portfolio consisting of three IT projects. Taking into account the received

  12. Application of an integrated model for evaluation and optimization of business projects portfolios

    Directory of Open Access Journals (Sweden)

    Camila Costa Dutra

    2016-12-01

    Full Text Available This work presents an application of an integrated model for the evaluation and probabilistic optimization of projects portfolios, integrating economic, risk and social and environmental impacts analysis. The model uses the Monte Carlo simulation and linear programming techniques for treatment of uncertainties and optimization of projects portfolio. The integrated model was applied in a Brazilian company of electricity distributions. The portfolio of selected projects was related to the expansion of the supply of electricity in a town in the south of the country and the analysis horizon was set in ten years. The aim of the application was to maximize the return for the implementation of a substation and a transmission line in a set of projects, which are diverse in terms of costs, benefits and environmental and social impacts. As a result, the model generates: i an analysis of each individual projects, from budget information (costs and benefits involved and estimation of social and environmental impacts generated by the project and the risks (uncertainties involved and ii the optimum combination of projects that the company should prioritize to ensure the best financial return and lower social and environmental impacts, thus generating an optimal portfolio.

  13. APPLICATION OF AN INTEGRATED MODEL FOR EVALUATION AND OPTIMIZATION OF BUSINESS PROJECTS PORTFOLIOS

    Directory of Open Access Journals (Sweden)

    Maria Auxiliadora Cannarozzo Tinoco

    2016-12-01

    Full Text Available This work presents an application of an integrated model for the evaluation and probabilistic optimization of projects portfolios, integrating economic, risk and social and environmental impacts analysis. The model uses the Monte Carlo simulation and linear programming techniques for treatment of uncertainties and optimization of projects portfolio. The integrated model was applied in a Brazilian company of electricity distributions. The portfolio of selected projects was related to the expansion of the supply of electricity in a town in the south of the country and the analysis horizon was set in ten years. The aim of the application was to maximize the return for the implementation of a substation and a transmission line in a set of projects, which are diverse in terms of costs, benefits and environmental and social impacts. As a result, the model generates: i an analysis of each individual projects, from budget information (costs and benefits involved and estimation of social and environmental impacts generated by the project and the risks (uncertainties involved and ii the optimum combination of projects that the company should prioritize to ensure the best financial return and lower social and environmental impacts, thus generating an optimal portfolio

  14. Higher order thinking skills: using e-portfolio in project-based learning

    Science.gov (United States)

    Lukitasari, M.; Handhika, J.; Murtafiah, W.

    2018-03-01

    The purpose of this research is to describe students' higher-order thinking skills through project-based learning using e-portfolio. The method used in this research is descriptive qualitative method. The research instruments used were test, unstructured interview, and documentation. Research subjects were students of mathematics, physics and biology education department who take the Basics Physics course. The result shows that through project-based learning using e-portfolio the students’ ability to: analyze (medium category, N-Gain 0.67), evaluate (medium category, N-Gain 0.51), and create (medium Category, N-Gain 0.44) are improved.

  15. PORTFOLIO SELECTION OF INFORMATION SYSTEMS PROJECTS USING PROMETHEE V WITH C-OPTIMAL CONCEPT

    Directory of Open Access Journals (Sweden)

    Jonatas A. de Almeida

    2014-05-01

    Full Text Available This paper presents a multicriteria decision model for selecting a portfolio of information system (IS projects, which integrates strategic and organizational view within a multicriteria decision structure. The PROMETHEE V method, based on outranking relations is applied, considering the c-optimal concept in order to overcome some scaling problems found in the classical PROMETHEE V approach. Then, a procedure is proposed in order to make a final analysis of the c-optimal portfolios found as a result of using PROMETHEE V. Also, the organizational view is discussed, including some factors that may influence decision making on IS projects to be included in the portfolio, such as adding the company's strategic vision and technical aspects that demonstrate how IS contributes value to a company's business.

  16. Several Cultures project

    International Nuclear Information System (INIS)

    Anon.

    Researches carried out in the 'Many Culture Project' of the Agricultural Nuclear Energy Center, Piracicaba, Sao Paulo State, Brazil, are described. Such researches comprise: genetic improvement of wheat; genetic improvement of rice; radioentomology of fruit flies (Ceratitis capitata); soil/sugar-cane relation; biological fixation of nitrogen by sugar-cane; radioentomology of the sugar-cane borer (Diatraea saccharalis); sugar-cane manuring; electron microscopy of B. mori and A. gemmatalis polyhedrosis; electron microscopy of some varieties of coffee-plant attacked with blight; nitrogen fixation in corn; confirmation of the extent of the concept of the value 'A'; behavior of the 14 C - and 35 S soil organic matter; fractionation of organic matter from the main types of Brazilian soils and measurement of the 14 C/ 12 C specific radioactivity; study of the radicular system of some cultures; influence of organic matter on the alteration of soils located in different Brazilian climatic zones. (M.A.) [pt

  17. A Hybrid MCDM Approach for Strategic Project Portfolio Selection of Agro By-Products

    Directory of Open Access Journals (Sweden)

    Animesh Debnath

    2017-07-01

    Full Text Available Due to the increasing size of the population, society faces several challenges for sustainable and adequate agricultural production, quality, distribution, and food safety in the strategic project portfolio selection (SPPS. The initial adaptation of strategic portfolio management of genetically modified (GM Agro by-products (Ab-Ps is a huge challenge in terms of processing the agro food product supply-chain practices in an environmentally nonthreatening way. As a solution to the challenges, the socio-economic characteristics for SPPS of GM food purchasing scenarios are studied. Evaluation and selection of the GM agro portfolio management are the dynamic issues due to physical and immaterial criteria involving a hybrid multiple criteria decision making (MCDM approach, combining modified grey Decision-Making Trial and Evaluation Laboratory (DEMATEL, Multi-Attributive Border Approximation area Comparison (MABAC and sensitivity analysis. Evaluation criteria are grouped into social, differential and beneficial clusters, and the modified DEMATEL procedure is used to derive the criteria weights. The MABAC method is applied to rank the strategic project portfolios according to the aggregated preferences of decision makers (DMs. The usefulness of the proposed research framework is validated with a case study. The GM by-products are found to be the best portfolio. Moreover, this framework can unify the policies of agro technological improvement, corporate social responsibility (CSR and agro export promotion.

  18. Enhancing Project-Based Learning in Software Engineering Lab Teaching through an E-Portfolio Approach

    Science.gov (United States)

    Macias, J. A.

    2012-01-01

    Project-based learning is one of the main successful student-centered pedagogies broadly used in computing science courses. However, this approach can be insufficient when dealing with practical subjects that implicitly require many deliverables and a great deal of feedback and organizational resources. In this paper, a worked e-portfolio is…

  19. Discourses and Theoretical Assumptions in IT Project Portfolio Management: A Review of the Literature

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian

    2014-01-01

    These years increasing interest is put on IT project portfolio management (IT PPM). Considering IT PPM an interdisciplinary practice, this paper conducts a concept-based literature review of relevant articles across various research disciplines. It finds and classifies a stock of 107 relevant...

  20. On-Line Investment Analysis and Portfolio Management: Using Learning Outcome Statements To Design Projects.

    Science.gov (United States)

    Pettijohn, James B.; Ragan, Gay A.; Ragan, Kent P.

    2003-01-01

    Describes an Internet-based project to familiarize students with online investment analysis and stock portfolio management. Outlines a process for writing learning outcomes that address three levels of cognition: knowledge/comprehension, application/analysis, and synthesis/evaluation. (SK)

  1. Discourses and Theoretical Assumptions in IT Project Portfolio Management: A Review of the Literature (reprint)

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian

    2016-01-01

    These years increasing interest is put on IT project portfolio management (IT PPM). Considering IT PPM an interdisciplinary practice, this paper conducts a concept-based literature review of relevant articles across various research disciplines. It finds and classifies a stock of 107 relevant...

  2. Computer Assisted Project-Based Instruction: The Effects on Science Achievement, Computer Achievement and Portfolio Assessment

    Science.gov (United States)

    Erdogan, Yavuz; Dede, Dinçer

    2015-01-01

    The purpose of this study is to compare the effects of computer assisted project-based instruction on learners' achievement in a science and technology course, in a computer course and in portfolio development. With this aim in mind, a quasi-experimental design was used and a sample of 70 seventh grade secondary school students from Org. Esref…

  3. ‘Value for Whom, by Whom’: Investigating Value Constructs in Non-Profit Project Portfolios

    Directory of Open Access Journals (Sweden)

    Karyne Cheng Siew Ang

    2016-11-01

    Full Text Available In most non-profit organisations (NPOs, there are multiple programs, projects or initiatives running simultaneously. The management of multiple projects in organisations can be coined as project portfolio management (PPM (Archer & Ghasemzadeh 1999; Pennypacker & Dye 2002.  In any project-based organisation, it is critical that selected projects align with and deliver the organisation’s strategy or mission. Decisions about project funding are strategic decisions, particularly when there are resource limitations. In PPM decision making, the allocation of resources to projects requires a clear judgement of value across multiple perspectives. Value has often been expressed in financial terms, however increasingly research indicates that non-financial considerations are equally important in evaluating value. A key task in project portfolio management is to maximise value across the portfolio.  However, value can be a subjective notion, as each person may have different expectations of what is valuable. The involvement of diverse stakeholder interests could create complexities in decision making in non-profit organisations due to value being interpreted in different ways by the stakeholders. Furthermore in order to achieve its purpose, non-profits depend heavily on donors, patrons and sponsors - stakeholders who contribute to the portfolio but are often not the direct recipients of the services provided by the non-profit organisation (Kaplan 2012. Non-profit portfolios often compete with other initiatives for resources and attention from the same donors and sponsors, and may need to constantly justify the value they provide to these stakeholders. Most research about value in PPM has been conducted in the ‘for-profit’ sector. Recent value-based studies in the project portfolio field stress the importance of considering both commercial and non-commercial value in portfolio decision making (Killen, du Plessis & Young 2012; Kopman 2013; Martinsuo

  4. Power Grid Construction Project Portfolio Optimization Based on Bi-level programming model

    Science.gov (United States)

    Zhao, Erdong; Li, Shangqi

    2017-08-01

    As the main body of power grid operation, county-level power supply enterprises undertake an important emission to guarantee the security of power grid operation and safeguard social power using order. The optimization of grid construction projects has been a key issue of power supply capacity and service level of grid enterprises. According to the actual situation of power grid construction project optimization of county-level power enterprises, on the basis of qualitative analysis of the projects, this paper builds a Bi-level programming model based on quantitative analysis. The upper layer of the model is the target restriction of the optimal portfolio; the lower layer of the model is enterprises’ financial restrictions on the size of the enterprise project portfolio. Finally, using a real example to illustrate operation proceeding and the optimization result of the model. Through qualitative analysis and quantitative analysis, the bi-level programming model improves the accuracy and normative standardization of power grid enterprises projects.

  5. Governance arrangements for IT project portfolio management qualitative insights and a quantitative modeling approach

    CERN Document Server

    Frey, Thorsten

    2014-01-01

    Due to the growing importance of IT-based innovations, contemporary firms face an excessive number of proposals for IT projects. As typically only a fraction of these projects can be implemented with the given capacity, IT project portfolio management as a relatively new discipline has received growing attention in research and practice in recent years.?Thorsten Frey demonstrates how companies are struggling to find the right balance between local autonomy and central overview about all projects in the organization. In this context, impacts of different contextual factors on the design of governance arrangements for IT project portfolio management are demonstrated. Moreover, consequences of the use of different organizational designs are analyzed. The author presents insights from a qualitative empirical study as well as a simulative approach.

  6. Information Technology Project Portfolio and Strategy Alignment Assessment Based on Data Envelopment Analysis

    Directory of Open Access Journals (Sweden)

    Marisa Analía Sánchez

    2012-11-01

    Full Text Available Recent researches have shown that companies face considerable difficulties in assessing the strategy value contribution of Information Technology (IT investments. One of the major obstacles to achieving strategy alignment is that organizations find extremely difficult to link and quantify the IT investments benefits with strategic goals. The aim of this paper is to define an approach to assess portfolio-strategy alignment. To this end a formal specification of Kaplan and Norton Strategy Map is developed utilizing Unified Modeling Language (UML. The approach uses the Strategy Map as a framework for defining the portfolio value contribution and Data Envelopment Analysis (DEA is used as the methodology for measuring efficiency of project portfolios.DOI:10.5585/gep.v3i2.66

  7. Establishing a portfolio of quality-improvement projects in pediatric surgery through advanced improvement leadership systems.

    Science.gov (United States)

    Gerrein, Betsy T; Williams, Christina E; Von Allmen, Daniel

    2013-01-01

    Formal quality-improvement (QI) projects require that participants are educated in QI methods to provide them with the capability to carry out successful, meaningful work. However, orchestrating a portfolio of projects that addresses the strategic mission of the institution requires an extension of basic QI training to provide the division or business unit with the capacity to successfully develop and manage the portfolio. Advanced Improvement Leadership Systems is a program to help units create a meaningful portfolio. This program, used by the Division of Pediatric General and Thoracic Surgery at Cincinnati Children's Hospital Medical Center, helped establish a portfolio of targeted QI projects designed to achieve outstanding outcomes at competitive costs in multiple clinical areas aligned with the institution's strategic goals (improve disease-based outcomes, patient safety, flow, and patient and family experience). These objectives are addressed in an institutional strategic plan built around 5 core areas: Safety, Productivity, Care Coordination and Outcomes, Patient and Family Experience, and Value. By combining the portfolio of QI projects with improvements in the divisional infrastructure, effective improvement efforts were realized throughout the division. In the 9 months following the program, divisional capability resulted in a 16.5% increase (5.7% to 22.2%) of formally trained staff working on 10 QI teams. Concurrently, a leadership team, designed to coordinate projects, remove barriers, and provide technical support, provided the capacity to pursue this ongoing effort. The Advanced Improvement Leadership Systems program increased the Division's efficiency and effectiveness in pursing the QI mission that is integral at our hospital.

  8. Establishing a Portfolio of Quality-Improvement Projects in Pediatric Surgery through Advanced Improvement Leadership Systems

    Science.gov (United States)

    Gerrein, Betsy T; Williams, Christina E; von Allmen, Daniel

    2013-01-01

    Formal quality-improvement (QI) projects require that participants are educated in QI methods to provide them with the capability to carry out successful, meaningful work. However, orchestrating a portfolio of projects that addresses the strategic mission of the institution requires an extension of basic QI training to provide the division or business unit with the capacity to successfully develop and manage the portfolio. Advanced Improvement Leadership Systems is a program to help units create a meaningful portfolio. This program, used by the Division of Pediatric General and Thoracic Surgery at Cincinnati Children’s Hospital Medical Center, helped establish a portfolio of targeted QI projects designed to achieve outstanding outcomes at competitive costs in multiple clinical areas aligned with the institution’s strategic goals (improve disease-based outcomes, patient safety, flow, and patient and family experience). These objectives are addressed in an institutional strategic plan built around 5 core areas: Safety, Productivity, Care Coordination and Outcomes, Patient and Family Experience, and Value. By combining the portfolio of QI projects with improvements in the divisional infrastructure, effective improvement efforts were realized throughout the division. In the 9 months following the program, divisional capability resulted in a 16.5% increase (5.7% to 22.2%) of formally trained staff working on 10 QI teams. Concurrently, a leadership team, designed to coordinate projects, remove barriers, and provide technical support, provided the capacity to pursue this ongoing effort. The Advanced Improvement Leadership Systems program increased the Division’s efficiency and effectiveness in pursing the QI mission that is integral at our hospital. PMID:24361020

  9. Sustainability-Oriented Financial Resource Allocation in a Project Portfolio through Multi-Criteria Decision-Making

    Directory of Open Access Journals (Sweden)

    Nomeda Dobrovolskienė

    2016-05-01

    Full Text Available Modern portfolio theory attempts to maximize the expected return of a portfolio for a given level of portfolio risk, or equivalently minimize risk for a given level of expected return. The reality, however, shows that, when selecting projects to a portfolio and allocating resources in the portfolio, an increasing number of organizations take into account other aspects as well. As a result of the sole purpose (risk-return, it offers only a partial solution for a sustainable organization. Existing project portfolio selection and resource allocation methods and models do not consider sustainability. Therefore, the aim of this article is to develop a sustainability-oriented model of financial resource allocation in a project portfolio by integrating a composite sustainability index of a project into Markowitz’s classical risk-return scheme (mean-variance model. The model was developed by applying multi-criteria decision-making methods. The practicability of the model was tested by an empirical study in a selected construction company. The proposed sustainability-oriented financial resource allocation model could be used in allocating financial resources in any type of business. The use of the model would not only help organisations to manage risk and achieve higher return but would also allow carrying out sustainable projects, thereby promoting greater environmental responsibility and giving more consideration to the wellbeing of future generations. Moreover, the model allows quantifying the impact of the integration of sustainability into financial resource allocation on the return of a portfolio.

  10. A PERSPECTIVE ON PRIORITIZATION IN PROJECT PORTFOLIO ENVIRONMENT

    OpenAIRE

    Eberhardt, Henrik; Lindblom, David

    2011-01-01

    The overbridging aspect of this interpretative master thesis is the implementation of a project prioritizing strategy. The concept is subdivided into three processes and entities, which could be seen as tools; project management office(PMO), project evaluation and project selection, which in turn are discussed separately. The thesis investigates how the tools impact the prioritizing strategy and why a company must follow a certain prioritizing strategy. The primary focus has been an IS/IT dep...

  11. Formation of the portfolio of high-rise construction projects on the basis of optimization of «risk-return» rate

    Science.gov (United States)

    Uvarova, Svetlana; Kutsygina, Olga; Smorodina, Elena; Gumba, Khuta

    2018-03-01

    The effectiveness and sustainability of an enterprise are based on the effectiveness and sustainability of its portfolio of projects. When creating a production program for a construction company based on a portfolio of projects and related to the planning and implementation of initiated organizational and economic changes, the problem of finding the optimal "risk-return" ratio of the program (portfolio of projects) is solved. The article proposes and approves the methodology of forming a portfolio of enterprise projects on the basis of the correspondence principle. Optimization of the portfolio of projects on the criterion of "risk-return" also contributes to the company's sustainability.

  12. Transforming local government by project portfolio management: Identifying and overcoming control problems

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian

    2013-01-01

    Purpose – As public organizations strive for higher e-government maturity, information technology (IT) Project Portfolio Management (IT PPM) has become a high priority issue. Assuming control is central in IT PPM, the purpose of this paper is to investigate how a Danish local government conducts...... to understand how local governments can improve IT PPM. Keywords IT project portfolio management, E-government, Control theory, Control problems, Formal mechanisms, Informal mechanisms, Local government, Denmark...... control in IT PPM. The authors identify control problems and formulate recommendations to address these. Design/methodology/approach – Adopting principles from Engaged Scholarship, the authors have conducted a case study using a wide variety of data collection methods, including 29 interviews, one...

  13. Project Portfolio Management for Academic Libraries: A Gentle Introduction

    Science.gov (United States)

    Vinopal, Jennifer

    2012-01-01

    In highly dynamic, service-oriented environments like academic libraries, much staff time is spent on initiatives to implement new products and services to meet users' evolving needs. Yet even in an environment where a sound project management process is applied, if we're not properly planning, managing, and controlling the organization's work in…

  14. Formation of the portfolio of projects for informatization programs

    Directory of Open Access Journals (Sweden)

    Ion Bolun

    2009-12-01

    Full Text Available in informatization programs are approached: criteria of efficiency, general problem, aggregate problem in continuous form, general problem in discrete form and solving of problems. As criterion of informatization projects' economic efficiency, the total profit maximization due to investments is used. In preliminary calculations, the opportunity of considering continuous dependences of profit on the volume of investments by domain activities is grounded. Eleven classes of such dependences are investigated and analytical solutions and algorithms for solving formulated problems are described.

  15. MANAGEMENT ACCOUNTING FOR A PORTFOLIO OF PROJECTS TO SUPPORT ORGANISATIONAL VALUE MAXIMISATION

    Directory of Open Access Journals (Sweden)

    P.J. Viljoen

    2012-01-01

    Full Text Available

    ENGLISH ABSTRACT:The objective of management accounting is to provide management with the financial information that will enable them to make decisions that will result in increased profitability of their organisation. The management accounting of projects in a portfolio as proposed in the literature often presents major problems that prevent the achievement of this objective. These problems include how to estimate value in financial terms during the pre-project phase of the project life cycle as well as the difficulties with financial control of the portfolio of projects as they are conducted. A few case studies are presented highlighting, current practice and the negative effects being experienced. A simple throughput accounting model for the financial management of a portfolio of projects, that could lead to better management decisions and increased profitability of organisations, is proposed.

    AFRIKAANSE OPSOMMING: Die doelwit van bestuursrekeningkunde is om bestuur te voorsien met finansiële inligting wat hulle in staat stel om besluite te maak wat die winsgewendheid van die onderneming sal verbeter. Die bestuursrekeningkunde van 'n portefeulje van projekte wat in die literatuur voorgestel word, het 'n aantal probleme wat die bereiking van hierdie doelwit verhinder. Hierdie probleme sluit in hoe om ramings van waarde in finansiële terme te doen tydens die pre-projek fase van die projeklewenssiklus asook die probleme met finansiële beheer van die projekportefeulje soos dit uitgevoer word. ‘n Aantal gevallestudies word aangebied wat huidige praktyke en die negatiewe effekte wat ondervind word toelig. ‘n Eenvoudige deursetverrekeningsmodel vir die finansiële bestuur van ‘n projekportefeulje word voorgestel wat kan lei tot beter bestuursbesluite wat die winsgewendheid van ‘n onderneming sal verbeter.

  16. Portfolio Management

    Science.gov (United States)

    Duncan, Sharon L.

    2011-01-01

    Enterprise Business Information Services Division (EBIS) supports the Laboratory and its functions through the implementation and support of business information systems on behalf of its business community. EBIS Five Strategic Focus Areas: (1) Improve project estimating, planning and delivery capability (2) Improve maintainability and sustainability of EBIS Application Portfolio (3) Leap forward in IT Leadership (4) Comprehensive Talent Management (5) Continuous IT Security Program. Portfolio Management is a strategy in which software applications are managed as assets

  17. Formation of the portfolio of high-rise construction projects on the basis of optimization of «risk-return» rate

    OpenAIRE

    Uvarova Svetlana; Kutsygina Olga; Smorodina Elena; Gumba Khuta

    2018-01-01

    The effectiveness and sustainability of an enterprise are based on the effectiveness and sustainability of its portfolio of projects. When creating a production program for a construction company based on a portfolio of projects and related to the planning and implementation of initiated organizational and economic changes, the problem of finding the optimal "risk-return" ratio of the program (portfolio of projects) is solved. The article proposes and approves the methodology of forming a por...

  18. Multi-period project portfolio selection under risk considerations and stochastic income

    Science.gov (United States)

    Tofighian, Ali Asghar; Moezzi, Hamid; Khakzar Barfuei, Morteza; Shafiee, Mahmood

    2018-02-01

    This paper deals with multi-period project portfolio selection problem. In this problem, the available budget is invested on the best portfolio of projects in each period such that the net profit is maximized. We also consider more realistic assumptions to cover wider range of applications than those reported in previous studies. A novel mathematical model is presented to solve the problem, considering risks, stochastic incomes, and possibility of investing extra budget in each time period. Due to the complexity of the problem, an effective meta-heuristic method hybridized with a local search procedure is presented to solve the problem. The algorithm is based on genetic algorithm (GA), which is a prominent method to solve this type of problems. The GA is enhanced by a new solution representation and well selected operators. It also is hybridized with a local search mechanism to gain better solution in shorter time. The performance of the proposed algorithm is then compared with well-known algorithms, like basic genetic algorithm (GA), particle swarm optimization (PSO), and electromagnetism-like algorithm (EM-like) by means of some prominent indicators. The computation results show the superiority of the proposed algorithm in terms of accuracy, robustness and computation time. At last, the proposed algorithm is wisely combined with PSO to improve the computing time considerably.

  19. Understanding the Influence of knowledge-sharing in Project Portfolio Management in professional services

    DEFF Research Database (Denmark)

    Møller, Mads Lyngsø; Horsager, Betina; Tambo, Torben

    2016-01-01

    that combine the entire project-, program and portfolio life-cycle. The information processing must facilitate controlled knowledge flows and learnings, while helping the project managers to reduce non-productive knowledge acquisition. This is accomplished with a balance between the need for knowledge....... As critical findings of the paper are observations, characterization of knowledge-sharing and -management processes between clients, consultants, consultants-as-a-community, and senior management with information systems often in a retrospective position according to the immediate needs of PPM....... As such there is found knowledge-based deficit in the precision of the PPM system. The originality of this paper relates to knowledge management studies in small professional services organization at the tipping point where KM changes from person-based to be institutionalized in information systems with having...

  20. Using a portfolio of evidence in a community-based project module: reflection in perspective

    Directory of Open Access Journals (Sweden)

    PH van der Westhuizen

    2014-01-01

    Full Text Available Community-based learning is a relatively new field in South Africa. It has only been extensively included in academic programmes at universities for about fifteen years.Students have to make a positive contribution to individuals in their communities (Dukhan 2008:21 and develop a combination of knowledge, skills, values and motivation in order to make a difference, and to promote the quality of life in a community (O Connor 2006: 52.Too often assessment reflects on a single quantitative measure or symbol to indicate a level of achievement. This aggregate does not, however, indicate the student‟s particular weaknesses and strengths, and whether or not he or she possesses competencies in a specific aspect. A more objective method/procedure of reporting assessment on levels of achievement and competency obtained is the compilation of a portfolio. The main aim of this paper is to provide some guidelines for the compilation and implementation of portfolios as a tool in authentic assessment for the student, but also acts as a document that would guide a community into the sustainability of the project.

  1. The standard for portfolio management

    CERN Document Server

    2017-01-01

    The Standard for Portfolio Management – Fourth Edition has been updated to best reflect the current state of portfolio management. It describe the principles that drive accepted good portfolio management practices in today’s organizations. It also expands the description of portfolio management to reflect its relation to organizational project management and the organization.

  2. Overview of the NASA Environmentally Responsible Aviation Project's Propulsion Technology Portfolio

    Science.gov (United States)

    Suder, Kenneth L.

    2012-01-01

    The NASA Environmentally Responsible Aviation (ERA) Project is focused on developing and demonstrating integrated systems technologies to TRL 4-6 by 2020 that enable reduced fuel burn, emissions, and noise for futuristic air vehicles. The specific goals aim to simultaneously reduce fuel burn by 50%, reduce Landing and Take-off Nitrous Oxides emissions by 75% relative to the CAEP 6 guidelines, and reduce cumulative noise by 42 Decibels relative to the Stage 4 guidelines. These goals apply to the integrated vehicle and propulsion system and are based on a reference mission of 3000nm flight of a Boeing 777-200 with GE90 engines. This paper will focus primarily on the ERA propulsion technology portfolio, which consists of advanced combustion, propulsor, and core technologies to enable these integrated air vehicle systems goals. An overview of the ERA propulsion technologies will be described and the status and results to date will be presented.

  3. Transforming local government by project portfolio management: Identifying and overcoming control problems

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian

    2013-01-01

    Purpose – As public organizations strive for higher e-government maturity, information technology (IT) Project Portfolio Management (IT PPM) has become a high priority issue. Assuming control is central in IT PPM, the purpose of this paper is to investigate how a Danish local government conducts...... workshop, and analyses of documents. Findings – It is found that the local government relies vastly on informal control mechanisms and five control problems are identified: weak accountability processes between the political and administrative level; weak accountability between the director level...... the identified control problems. Research limitations/implications – As a single qualitative case study, the results are limited to one organization and subject. Practical implications – The paper has implications for IT PPM in Danish local governments and similar organizations in other countries. The paper...

  4. The Economic Viability of Renewable Portfolio Standard Support for Offshore Wind Farm Projects in Korea

    Directory of Open Access Journals (Sweden)

    Chang-Gi Min

    2015-09-01

    Full Text Available Offshore wind farm (WF projects have been promoted by support schemes as part of the expansion of renewable energy resources in Korea. This paper examines in detail how the Renewable Portfolio Standard (RPS, which was adopted post the Feed-in-Tariff scheme in 2012, has had a profound impact on the economic benefits of offshore WFs in Korea. A framework for analyzing the economic viability of RPS is presented and applied to the sixth basic plan for long-term electricity supply and demand in Korea. The electricity market price is forecast using a reformulated probabilistic production cost (PPC model, and the renewable energy certificate (REC price is calculated using its determination rule. The results show that the existing RPS will be ineffective in increasing the penetration of offshore WFs in Korea; however, they also indicate that the economic viability of offshore WFs could be improved by adjusting the existing RPS.

  5. Critical chain construction with multi-resource constraints based on portfolio technology in South-to-North Water Diversion Project

    Directory of Open Access Journals (Sweden)

    Jing-chun Feng

    2011-06-01

    Full Text Available Recently, the critical chain study has become a hot issue in the project management research field. The construction of the critical chain with multi-resource constraints is a new research subject. According to the system analysis theory and project portfolio theory, this paper discusses the creation of project portfolios based on the similarity principle and gives the definition of priority in multi-resource allocation based on quantitative analysis. A model with multi-resource constraints, which can be applied to the critical chain construction of the A-bid section in the South-to-North Water Diversion Project, was proposed. Contrast analysis with the comprehensive treatment construction method and aggressive treatment construction method was carried out. This paper also makes suggestions for further research directions and subjects, which will be useful in improving the theories in relevant research fields.

  6. Influence of organizational and project cultures on project success

    Directory of Open Access Journals (Sweden)

    Berdykulova G. M.

    2017-10-01

    Full Text Available the article is dedicated to studying the influence of organizational and project cultures on effective project management of the company by knowledge systematization and the comparative analysis of world companies’ practice that allowed to reveal the main factors and criteria of projects success and negative influence of organizational culture on the project; key aspects of corporate culture and cultural integration under the conditions of globalization.

  7. I Thought This Was Going to Be a Waste of Time: How Portfolio Construction Can Support Student Learning from Project-Based Experiences

    Science.gov (United States)

    Turns, Jennifer; Cuddihy, Elisabeth; Guan, Zhiwei

    2010-01-01

    In this work, we sought to understand ways that students experienced a small-scale portfolio assignment provided to them as an opportunity reflect on their experiences in a project-based class. This work was motivated by research in various instructional contexts showing that portfolio construction results in important learning outcomes. We wanted…

  8. The Web-based CanMEDS Resident Learning Portfolio Project (WEBCAM): how we got started.

    Science.gov (United States)

    Glen, Peter; Balaa, Fady; Momoli, Franco; Martin, Louise; Found, Dorothy; Arnaout, Angel

    2016-12-01

    The CanMEDS framework is ubiquitous in Canadian postgraduate medical education; however, training programs do not have a universal method of assessing competence. We set out to develop a novel portfolio that allowed trainees to generate a longitudinal record of their training and development within the framework. The portfolio provided an objective means for the residency program director to document and evaluate resident progress within the CanMEDS roles.

  9. Portfolio Optimization

    OpenAIRE

    Issagali, Aizhan; Alshimbayeva, Damira; Zhalgas, Aidana

    2015-01-01

    In this paper Portfolio Optimization techniques were used to determine the most favorable investment portfolio. In particular, stock indices of three companies, namely Microsoft Corporation, Christian Dior Fashion House and Shevron Corporation were evaluated. Using this data the amounts invested in each asset when a portfolio is chosen on the efficient frontier were calculated. In addition, the Portfolio with minimum variance, tangency portfolio and optimal Markowitz portfolio are presented.

  10. Project portfolio selection of banking services using COPRAS and Fuzzy-TOPSIS

    Directory of Open Access Journals (Sweden)

    C.O. Anyaeche

    2017-04-01

    Full Text Available Portfolio selection is a business process which has helped organisations identify an area of com-petitive advantage and it is a major concern to industrial players in the banking sectors. In order to enhance bank portfolio selection, cost, profitability, time and location are important parameters that decision-makers often consider. This study implements a fuzzy-TOPSIS (Technique for Or-der Preference by Similarity to Ideal Solution framework to evaluate three potential portfolios (automated teller machine gallery, quick service point and branch for a bank using the infor-mation from three decision-makers. An illustrative example of real bank information is used to demonstrate the proposed framework applicability. The complex proportional assessment of al-ternatives (COPRAS method is also used as an evaluation technique and the results are com-pared, which yields that the results from the ranking order of fuzzy-TOPSIS and COPRAS were different. However, there is a consistency between the aggregation of intuition-based, fuzzy-TOPSIS and COPRAS ranks and fuzzy-TOPSIS ranking results. The presented framework is an easy-to-apply tool that improves portfolio selection decision in the banking system.

  11. Organizing Cultural Projects Through Legitimising as Cultural Entrepreneurship

    DEFF Research Database (Denmark)

    Lindkvist, Lars; Hjorth, Daniel

    2015-01-01

    Purpose This paper is a study of creating organization in the case of cultural projects; cultural entrepreneurship. This includes taking advantage of opportunities and using ones social capital through networks. It is a case study of Vandalorum which is an Swedish international art- and design...... and Design Centre. Findings The case of Vandalorum shows that organizing a cultural project like Vandalorum is characterized by no well-defined starting and stopping point, but – quite typically for entrepreneurship as an organization-creation process – builds momentum and legitimacy narratively. Originality...

  12. Achieving a Prioritized Research and Technology Development Portfolio for the Dust Management Project

    Science.gov (United States)

    Hyatt, Mark J.; Abel, Phillip; Delaune, Paul; Fishman, Julianna; Kohli, Rajiv

    2009-01-01

    Mission architectures for human exploration of the lunar surface continue to advance as well as the definitions of capability needs, best practices and engineering design to mitigate the impact of lunar dust on exposed systems. The NASA DMP has been established as the agency focal point for dust characterization, technology, and simulant development. As described in this paper, the DMP has defined a process for selecting and justifying its R&T portfolio. The technology prioritization process, which is based on a ranking system according to weighted criteria, has been successfully applied to the current DMP dust mitigation technology portfolio. Several key findings emerged from this assessment. Within the dust removal and cleaning technologies group, there are critical technical challenges that must be overcome for these technologies to be implemented for lunar applications. For example, an in-situ source of CO2 on the moon is essential to the CO2 shower technology. Also, significant development effort is required to achieve technology readiness level TRL 6 for the electrostatic cleaning system for removal of particles smaller than 50 pm. The baseline materials related technologies require considerable development just to achieve TRL 6. It is also a nontrivial effort to integrate the materials in hardware for lunar application. At present, there are no terrestrial applications that are readily adaptable to lunar surface applications nor are there any obvious leading candidates. The unique requirements of dust sealing systems for lunar applications suggest an extensive development effort will be necessary to mature dust sealing systems to TRL 6 and beyond. As discussed here, several alternate materials and technologies have achieved high levels of maturity for terrestrial applications and warrant due diligence in ongoing assessment of the technology portfolio. The present assessment is the initial step in an ongoing effort to continually evaluate the DMP technology

  13. Cultural differences in Research project management

    Science.gov (United States)

    Barbier, Michele

    2016-04-01

    Scientific Projects today have increased in complexity, requiring multidisciplinarity, and requiring a mix of diverse individuals from different countries who must be integrated into an effective project. Effective team building is one of the prime responsibilities of the project manager. When the project is supported by a funding, the integration and the implication of the different partners are quite easy. Particularly when partners are developing high-performing teams. However, management of research project requires further skills when the budget is not very high and/or when partners are from non-European countries and are not using the same vocabulary. The various cultures, values, beliefs and social usages, particularly with Mediterranean countries cause a special style of communication for an individual or group of individuals. This communication style participates in the success of the project and encompasses a lot of diplomatic skills which will be highlighted.

  14. Environmental evaluation Methodology as part, of the project multi-aspect evaluation of the portfolio of ISAGEN options

    International Nuclear Information System (INIS)

    Ayala R, Ana Victoria

    2001-01-01

    ISAGEN designed and applied a multi-aspect methodology to classify and compare projects of the company's electricity generation options portfolio. It was developed from a holistic vision, integrating multidisciplinary information from the economic, environmental and technical aspects. This helped to classify the alternatives based on the sum of the values obtained for the different considered aspects. This document presents, in general form, the procedure adopted for the index formulation and selection of factors including the variables corresponding to the sub-aspects (or environmental dimensions) physical, biotic and social. The investigation's work, selection and classification of the variables were developed by an interdisciplinary group of experimented professionals in the environmental evaluation of projects. The integration of the three sub-aspects (physical, biotic and social) resulted in a hierarchy of projects based on environmental considerations, which were finally articulated with the respective values obtained from the technical and economical aspects. In general, the results obtained in each sub-aspect agreed with the hierarchy of projects based on an expert concept previous to the method application. In synthesis, it was observed that this technique is of great utility to make comparisons and general classifications because it allows to take advantage of information with different characteristics and include assumptions or artificial modifiable methodological items that reflect the structure of the deciding agents preferences at any given time

  15. FEATURES OF PROJECT PORTFOLIO OF HIGH TECHNOLOGY INNOVATION COMPANIES IN NANOBIOTECHNOLOGIES

    Directory of Open Access Journals (Sweden)

    Віктор Володимирович МОРОЗОВ

    2015-05-01

    Full Text Available In the article were determined main project peculiarities in the field of nanotechnologies, that significantly influence project management in science. Was shown the necessity to apply the methods of project management for realization of innovative projects, aiming to accelerate their fastest implementation in the most prominent directions of state national economy.

  16. A Project Strategic Index proposal for portfolio selection in electrical company based on the Analytic Network Process

    Energy Technology Data Exchange (ETDEWEB)

    Smith-Perera, Aida [Universidad Metropolitana de Caracas, Departamento de Gestion Tecnologica, Caracas 1071, Edo Miranda (Venezuela); Garcia-Melon, Monica; Poveda-Bautista, Rocio; Pastor-Ferrando, Juan-Pascual [Universidad Politecnica de Valencia, Departamento de Proyectos de Ingenieria, Camino de vera s/n 46022 Valencia (Spain)

    2010-08-15

    In this paper a new approach to prioritize project portfolio in an efficient and reliable way is presented. It is based on strategic objectives of the company and multicriteria decision methods. The paper introduces a rigorous method with acceptable complexity which seeks to assist managers of a big Electrical Company of Venezuela to distribute the annual budget among the possible improvement actions to be conducted on the electrical network of Caracas. A total of 15 network improvement actions grouped into three clusters according to the strategic objectives of the company have been analyzed using the Project Strategic Index (PSI) proposed. The approach combines the use of the Analytic Network Process (ANP) method with the information obtained from the experts during the decision-making process. The ANP method allows the aggregation of the experts' judgments on each of the indicators used into one Project Strategic Index. In addition, ANP is based on utility ratio functions which are the most appropriate for the analysis of uncertain data, like experts' estimations. Finally, unlike the other multicriteria techniques, ANP allows the decision problem to be modelled using the relationships among dependent criteria. The participating experts coincided in the appreciation that the method proposed in this paper is useful and an improvement from traditional budget distribution techniques. They find the results obtained coherent, the process seems sufficiently rigorous and precise, and the use of resources is significantly less than in other methods. (author)

  17. A Project Strategic Index proposal for portfolio selection in electrical company based on the Analytic Network Process

    International Nuclear Information System (INIS)

    Smith-Perera, Aida; Garcia-Melon, Monica; Poveda-Bautista, Rocio; Pastor-Ferrando, Juan-Pascual

    2010-01-01

    In this paper a new approach to prioritize project portfolio in an efficient and reliable way is presented. It is based on strategic objectives of the company and multicriteria decision methods. The paper introduces a rigorous method with acceptable complexity which seeks to assist managers of a big Electrical Company of Venezuela to distribute the annual budget among the possible improvement actions to be conducted on the electrical network of Caracas. A total of 15 network improvement actions grouped into three clusters according to the strategic objectives of the company have been analyzed using the Project Strategic Index (PSI) proposed. The approach combines the use of the Analytic Network Process (ANP) method with the information obtained from the experts during the decision-making process. The ANP method allows the aggregation of the experts' judgments on each of the indicators used into one Project Strategic Index. In addition, ANP is based on utility ratio functions which are the most appropriate for the analysis of uncertain data, like experts' estimations. Finally, unlike the other multicriteria techniques, ANP allows the decision problem to be modelled using the relationships among dependent criteria. The participating experts coincided in the appreciation that the method proposed in this paper is useful and an improvement from traditional budget distribution techniques. They find the results obtained coherent, the process seems sufficiently rigorous and precise, and the use of resources is significantly less than in other methods. (author)

  18. Teacher Portfolios.

    Science.gov (United States)

    Wolfe-Quintero, Kate; Brown, James Dean

    1998-01-01

    A portfolio of achievements, experiences, and reflections can help English-as-a-Second-Language teachers attain professional development goals and offer administrators greater insight for making informed hiring and job-performance decisions. This paper focuses on what teacher portfolios are, what their contents should be, and what their uses are…

  19. Teaching Portfolio

    DEFF Research Database (Denmark)

    Pedersen, Christian Fischer

    The present teaching portfolio has been submitted for evaluation in partial fulfillment of the requirements of the teacher training programme for Assistant Professors at Department of Engineering, Aarhus University, Denmark.......The present teaching portfolio has been submitted for evaluation in partial fulfillment of the requirements of the teacher training programme for Assistant Professors at Department of Engineering, Aarhus University, Denmark....

  20. Customer portfolios

    DEFF Research Database (Denmark)

    Clarke, Ann Højbjerg; Freytag, Per Vagn; Zolkiewski, Judith

    2017-01-01

    gives managers a tool to help to cope with the dynamic aspects of the customer portfolio. Recognition of the importance of communication to the process, the development of trust and the role of legitimacy also provides areas that managers can focus upon in their relationship management processes......Purpose The purpose of this paper is to extend the discussion about customer portfolios beyond simple identification of models and how they can be used for balanced resource allocation to a discussion about how portfolios should take into account views from relationship partners and how they should...... that helps improve the understanding of how customer portfolio models can actually be applied from a relational perspective. Findings The key aspects of the conceptual framework relate to how alignment of the relationships in the portfolio is achieved. Critical to this are the interaction spaces...

  1. Safety Culture in New Build Projects

    International Nuclear Information System (INIS)

    Reiman, T.

    2016-01-01

    The concept of culture emphasises the social factors that have an effect on the way hazards are perceived, risks are evaluated, risk management is conducted, the current safety level is interpreted, and what is considered normal and what abnormal. It also contributes to defining the correct ways to behave in situations and correct ways to talk about safety, risks or uncertainty. Culture is something the company has created for itself that then has an effect on the company. This effect is not necessarily perceived by the company itself, since the members of the organization consider all things that happen according to their cultural taken-for-granted assumptions (“business as usual”). Thus, safety culture can either hinder or advance nuclear safety. This depends on what the shared values and assumptions are, and how they are in line with, and influence, the organizational structures, practices, personnel and technology. Safety culture requires constant and systematic development, monitoring and review during the entire life-cycle of a nuclear facility. The pre-operational phase sets many unique requirements for nuclear safety culture. For example, some of the organizations and individuals involved in the project may have no insight on how safety culture relates to nuclear power plants. Companies that work in the conventional industry typically associate safety with occupational safety issues, not with nuclear safety. Further, it may be unclear how the construction phase affects nuclear safety of an operating plant. When workers are asked to perform their work differently than previously (e.g., in conventional construction sites), explanation has to be given. For example, structures, systems and components may have different functions during emergency that exceed or differ from their quality requirements during normal operation. The strict quality requirements and use of certain methods and procedures, documentation requirements, etc., may seem unimportant if

  2. Weighing the Costs and Benefits of Renewables Portfolio Standards:A Comparative Analysis of State-Level Policy Impact Projections

    Energy Technology Data Exchange (ETDEWEB)

    Chen, Cliff; Wiser, Ryan; Bolinger, Mark

    2007-01-16

    State renewables portfolio standards (RPS) have emerged as one of the most important policy drivers of renewable energy capacity expansion in the U.S. Collectively, these policies now apply to roughly 40% of U.S. electricity load, and may have substantial impacts on electricity markets, ratepayers, and local economies. As RPS policies have been proposed or adopted in an increasing number of states, a growing number of studies have attempted to quantify the potential impacts of these policies, focusing primarily on projecting cost impacts, but sometimes also estimating macroeconomic and environmental effects. This report synthesizes and analyzes the results and methodologies of 28 distinct state or utility-level RPS cost impact analyses completed since 1998. Together, these studies model proposed or adopted RPS policies in 18 different states. We highlight the key findings of these studies on the costs and benefits of RPS policies, examine the sensitivity of projected costs to model assumptions, assess the attributes of different modeling approaches, and suggest possible areas of improvement for future RPS analysis.

  3. Integrating Portfolio Management and Simulation Concepts in the ERP Project Estimation Practice

    NARCIS (Netherlands)

    Daneva, Maia; Paech, B.; Rolland, C

    2008-01-01

    This paper presents a two-site case study on requirements-based effort estimation practices in enterprise resource planning projects. Specifically, the case study investigated the question of how to handle qualitative data and highly volatile values of project context characteristics. We counterpart

  4. THE MODEL OF FORMATION A PORTFOLIO OF THE INTERNATIONAL ACTIVITIES PROJECTS OF HEI

    Directory of Open Access Journals (Sweden)

    Сергей Васильевич РУДЕНКО

    2016-02-01

    Full Text Available The paper discusses an approach to assessing the project's value of the university international activities, based on the method of expert assessments and fuzzy-multiple method. Evaluating the effectiveness of the university-based project approach is a key factor in its competitiveness. The necessity substantiated of projects valuation of the university international activities. The concept is based on the matrices evaluation value product, process, international activities and development. For integral evaluation value of the university international activities project, we propose viewed from the standpoint of efficiency of all its results. These results can be roughly characterized by the following benchmarks: educational, scientific, technical, political, economic and social. In turn, key benchmarks characterized by its parameters, which estimate conducted by experts. Rating value of the university international activities project is to define the integral indicator of the value of the project. The proposed approach to determining the value of the international activities university projects, based on expert assessments and methods of fuzzy set theory will evaluate the effectiveness of these projects and implement the optimal choice.

  5. Sharing Experiences within AREVA D and D Project Portfolio: Four Illustrations - 13049

    International Nuclear Information System (INIS)

    Chabeuf, Jean-Michel; Varet, Thierry; AREVA Site Value Development Business Unit, La Hague Site

    2013-01-01

    Over the past ten years, AREVA has performed D and D operations on a wide range of nuclear sites, such as Marcoule and La Hague recycling plants, to Cadarache MOX fuel fabrication plant or Veurey and Annecy metallic Uranium machining plants. Each site is different from the other but some lessons can be shared through this D and D portfolio. In that respect, knowledge management is one of AREVA D and D Technical Department main missions. Four illustrations demonstrate the interest of knowledge share. Waste management is one of the key activities in D and D; It requires a specific characterization methodology, adapted logistics, and optimized waste channels, all of which have been developed over the years by AREVA teams on the site of Marcoule while they are rather new to La Hague, whose main activity remains fuel reprocessing despite the launch of UP2 400 D and D program. The transfer of know how has thus been organized over the past two years. Plasma cutting has been used extensively in Marcoule for years, while prohibited on the site of La Hague following questions raised about the risks associated wit Ruthenium sublimation. La Hague Technical Department has thus developed an experimental protocol to quantify and contain the Ruthenium risk, the result of which will then be applied to Marcoule where the Ruthenium issue has appeared in recent operations. Commissioning and operating fission products evaporators is a rather standard activity on UP2 800 and UP3, while the associated experience has been decreasing in Marcoule following final shutdown in 1998. When the French atomic Energy commission decided to build and operate a new evaporator to concentrate rinsing effluents prior to vitrification in 2009, AREVA La Hague operators were mobilized to test and commission the new equipment, and train local operators. Concrete scabbling is the final stage prior to the free release of a nuclear facility. In the context of Veurey and Annecy final cleanup and declassification

  6. Sharing Experiences within AREVA D and D Project Portfolio: Four Illustrations - 13049

    Energy Technology Data Exchange (ETDEWEB)

    Chabeuf, Jean-Michel; Varet, Thierry [AREVA Site Value Development Business Unit, La Hague Site (France); AREVA Site Value Development Business Unit, La Hague Site

    2013-07-01

    Over the past ten years, AREVA has performed D and D operations on a wide range of nuclear sites, such as Marcoule and La Hague recycling plants, to Cadarache MOX fuel fabrication plant or Veurey and Annecy metallic Uranium machining plants. Each site is different from the other but some lessons can be shared through this D and D portfolio. In that respect, knowledge management is one of AREVA D and D Technical Department main missions. Four illustrations demonstrate the interest of knowledge share. Waste management is one of the key activities in D and D; It requires a specific characterization methodology, adapted logistics, and optimized waste channels, all of which have been developed over the years by AREVA teams on the site of Marcoule while they are rather new to La Hague, whose main activity remains fuel reprocessing despite the launch of UP2 400 D and D program. The transfer of know how has thus been organized over the past two years. Plasma cutting has been used extensively in Marcoule for years, while prohibited on the site of La Hague following questions raised about the risks associated wit Ruthenium sublimation. La Hague Technical Department has thus developed an experimental protocol to quantify and contain the Ruthenium risk, the result of which will then be applied to Marcoule where the Ruthenium issue has appeared in recent operations. Commissioning and operating fission products evaporators is a rather standard activity on UP2 800 and UP3, while the associated experience has been decreasing in Marcoule following final shutdown in 1998. When the French atomic Energy commission decided to build and operate a new evaporator to concentrate rinsing effluents prior to vitrification in 2009, AREVA La Hague operators were mobilized to test and commission the new equipment, and train local operators. Concrete scabbling is the final stage prior to the free release of a nuclear facility. In the context of Veurey and Annecy final cleanup and declassification

  7. PISA Research Project Portfolio. Towards a new understanding of technological decision-making

    International Nuclear Information System (INIS)

    Meskens, G.

    2006-01-01

    In 2005, the programme of integration of social sciences into nuclear research participates in several research projects. It is the aim to apply transdiciplinary problem-oriented methods in PhD's work, in contract research, in international networking and to take challenging opportunities in conferences

  8. Rethinking project portfolio management: A case study of a public organization

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Svejvig, Per

    2018-01-01

    analytical perspectives. One perspective, denoted as classical project management (CPM), highlights key characteristics of traditional PPM research. A second perspective, denoted as rethinking project management (RPM), highlights characteristics of progressive PPM research. Against this background, we...... diagnose PPM practices in a large public organization and find that organizational top management use the vocabulary and request the values emphasized by the CPM perspective, such as executability, controllability, instrumentality and linearity. However, below top management level, we find managers...... practices. Taking into account the limitations of our single case study design, our research shows how an organization, which differs considerably from advise provided by the conventional CPM perspective, and best PPM practices, may be well functioning – or at least, in large, meets the organization’ PPM...

  9. Switching portfolios.

    Science.gov (United States)

    Singer, Y

    1997-08-01

    A constant rebalanced portfolio is an asset allocation algorithm which keeps the same distribution of wealth among a set of assets along a period of time. Recently, there has been work on on-line portfolio selection algorithms which are competitive with the best constant rebalanced portfolio determined in hindsight (Cover, 1991; Helmbold et al., 1996; Cover and Ordentlich, 1996). By their nature, these algorithms employ the assumption that high returns can be achieved using a fixed asset allocation strategy. However, stock markets are far from being stationary and in many cases the wealth achieved by a constant rebalanced portfolio is much smaller than the wealth achieved by an ad hoc investment strategy that adapts to changes in the market. In this paper we present an efficient portfolio selection algorithm that is able to track a changing market. We also describe a simple extension of the algorithm for the case of a general transaction cost, including the transactions cost models recently investigated in (Blum and Kalai, 1997). We provide a simple analysis of the competitiveness of the algorithm and check its performance on real stock data from the New York Stock Exchange accumulated during a 22-year period. On this data, our algorithm outperforms all the algorithms referenced above, with and without transaction costs.

  10. Evaluating the Impact of Two Globalization Projects on College Students' Cultural Competence and Cultural Intelligence (CQ)

    Science.gov (United States)

    Lopes-Murphy, Solange A.

    2013-01-01

    Cultural competence and CQ involve awareness of cultural similarities and differences, knowledge of differences in cultural values, and intercultural encounters. To assess college students' cultural competence and cultural intelligence gains, this experimental study evaluated the impact of two globalization projects on these two constructs. The…

  11. SunShot Initiative Portfolio Book 2014

    Energy Technology Data Exchange (ETDEWEB)

    Solar Energy Technologies Office

    2014-05-01

    The 2014 SunShot Initiative Portfolio Book outlines the progress towards the goals outlined in the SunShot Vision Study. Contents include overviews of each of SunShot’s five subprogram areas, as well as a description of every active project in the SunShot’s project portfolio as of May 2014.

  12. IT Portfolio Management

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Kræmmergaard, Pernille

    2012-01-01

    As public organizations increasingly rely on IT-enabled development to provide faster cycle times and better services, IT Project Portfolio Management (IT PPM) has become a high priority issue. This research adopts engaged scholarship to investigate IT PPM practices within a large local government...... information about internal recourses, (4) Lack of operational goals to hold IT projects accountable, (5) No account of actual IT project costs. These results may be used to inform further research into IT PPM and to help managers improve IT PPM practices in public organizations in their effort of increase...

  13. Utilizing the Project Method for Teaching Culture and Intercultural Competence

    Science.gov (United States)

    Euler, Sasha S.

    2017-01-01

    This article presents a detailed methodological outline for teaching culture through project work. It is argued that because project work makes it possible to gain transferrable and applicable knowledge and insight, it is the ideal tool for teaching culture with the aim of achieving real intercultural communicative competence (ICC). Preceding the…

  14. Ambidextrous Leadership and Sustainability-Based Project Performance: The Role of Project Culture

    Directory of Open Access Journals (Sweden)

    Junwei Zheng

    2017-12-01

    Full Text Available Most studies in the project management field emphasized the effects of leaders or managers, but these effects have rarely been examined at the project level. To cover this research gap, this study applies organizational ambidexterity theory to examine the effects among ambidextrous leadership, ambidextrous culture and sustainability-based project performance. Using a valid sample of 217 project leaders and members from Chinese construction projects, the method of multiple linear regression was adopted to assess the direct relationship among ambidextrous leadership, ambidextrous culture and project performance. Moreover, the bootstrapping technique through structural equation modeling, has been used to analyze the mediating effect of ambidextrous culture. Additionally, the sample data was divided into different groups according to the median value of the variables to conduct the ANOVA and to assess the within-group differences. The results indicated a positive and direct relationship that ambidextrous leadership has on project performance and ambidextrous culture. In addition, there was also a mediating impact of ambidextrous leadership on project performance via ambidextrous culture. Thus, ambidextrous leadership combined with transformational leadership as well as transactional leadership likely has a stronger positive impact on project performance through fostering the adaptive culture and consistent culture. Our findings contribute to an in-depth understanding of the role of the leader and culture for project outcomes. The project-based organization in construction projects could train project leaders’ ambidextrous leadership behavior to facilitate the formation of an ambidextrous culture and to increase project performance. Moreover, this study enriches the existing literature on leadership and project management by highlighting the important path of ambidextrous leadership and ambidextrous culture on the performance at the project level

  15. Enhancing Safety Culture in Complex Nuclear Industry Projects

    International Nuclear Information System (INIS)

    Gotcheva, N.

    2016-01-01

    This paper presents an on-going research project “Management principles and safety culture in complex projects” (MAPS), supported by the Finnish Research Programme on Nuclear Power Plant Safety 2015-2018. The project aims at enhancing safety culture and nuclear safety by supporting high quality execution of complex projects in the nuclear industry. Safety-critical industries are facing new challenges, related to increased outsourcing and complexity in technology, work tasks and organizational structures (Milch and Laumann, 2016). In the nuclear industry, new build projects, as well as modernisation projects are temporary undertakings often carried out by networks of companies. Some companies may have little experience in the nuclear industry practices or consideration of specific national regulatory requirements. In large multinational subcontractor networks, the challenge for assuring nuclear safety arises partly from the need to ensure that safety and quality requirements are adequately understood and fulfilled by each partner. Deficient project management practices and unsatisfactory nuclear safety culture in project networks have been recognised as contributing factors to these challenges (INPO, 2010). Prior evidence indicated that many recent major projects have experienced schedule, quality and financial challenges both in the nuclear industry (STUK, 2011) and in the non-nuclear domain (Ahola et al., 2014; Brady and Davies, 2010). Since project delays and quality issues have been perceived mainly as economic problems, project management issues remain largely understudied in safety research. However, safety cannot be separated from other performance aspects if a systemic view is applied. Schedule and quality challenges may reflect deficiencies in coordination, knowledge and competence, distribution of roles and responsibilities or attitudes among the project participants. It is increasingly understood that the performance of the project network in all

  16. Culture and conflict management style of international project managers

    OpenAIRE

    Mohammed, U. K.; Prabhakar, G. P.; White, G.

    2008-01-01

    The management of culture has become increasingly important to many organisations and business disciplines, particularly multicultural and international project management. Cultural differences often result in varying degrees of conflict and require careful consideration. This study surveys 116 Project Managers using the Thomas-Kilmann Conflict Mode Instrument to determine their approach toward managing conflict. Indian, French and UK Project Managers’ conflict management style are correlated...

  17. Professionalism, Portfolios and the Development of School Leaders.

    Science.gov (United States)

    Wildy, Helen; Wallace, John

    1998-01-01

    Describes how two reforms--portfolio culture and teacher professionalism--converge in a systemwide program for school leaders' professional development. Investigates use of portfolios to help (Australian) principals, deputy principals, and department heads improve their performance and accountability. Participants used portfolios as evidence of…

  18. Portfolio theory in the selection of oil investment projects Teoria de carteiras na seleção de projetos de investimento em petróleo

    Directory of Open Access Journals (Sweden)

    Jalimar Guimarães Simplício

    2012-01-01

    Full Text Available The objective of this article is to compare investment project selection using the efficient frontier in the mean-variance space based on optimization models introduced by Markowitz (1952 with the project ranking method according to the profitability index (PI. The selection of real assets by companies did not incorporate the mean-variance optimization procedure in the same way the selection of financial assets in investment portfolios did. The process of selection and formation of portfolios of investment projects for the oil area of a company in the energy industry was analyzed. Project portfolios formed according to the usual company practice of ranking by their PI were compared with those that result from applying mean-variance optimization through Monte Carlo simulation, which allows the computation of mean returns, variances, and covariances for the set of projects considered. The inefficiency of project portfolios obtained by ranking according to the PI compared to those obtained by the method of Markowitz suggests that there are opportunities to improve the process of selecting the set of projects to be implemented by companies.O objetivo deste artigo é comparar a seleção de projetos de investimento segundo a fronteira eficiente no espaço média-variância com base em modelos de otimização introduzidos por Markowitz (1952 com o método do ordenamento de projetos segundo o índice de lucratividade (IL. A seleção de ativos reais pelas empresas não incorporou o procedimento de otimização de média-variância da mesma forma que na seleção de ativos financeiros para carteiras de investimento. O processo de seleção e formação de carteiras de projetos de investimento pela área de petróleo de uma empresa do setor de energia foi analisado. Carteiras de projetos constituídas de acordo com a prática usual da empresa de ordenamento pelo IL foram comparadas com as que resultariam da aplicação da otimização de m

  19. Project Culture in the Chinese Construction Industry: Perceptions of Contractors

    Directory of Open Access Journals (Sweden)

    Jian Zou

    2012-11-01

    Full Text Available In recent years culture has become one of the most studied topicsin project management research. Some studies have investigatedthe infl uence of culture at different levels – such as nationalculture, industry culture, organisational culture and professionalculture. As a project-based industry, the construction industryneeds to have more insight concerning cultural issues at theproject level and their infl uence on the performance of constructionprojects. Few studies, however, have focused on culture at theproject level. This paper uses a questionnaire survey to determinethe perceptions of Chinese contractors about the impact of projectculture on the performance of local construction projects. This isaugmented by a series of in-depth interviews with senior executivemanagers in the industry. The fi ndings indicate that specifi c projectculture does contribute signifi cantly towards project outcomes.In particular, goal orientation and fl exibility, as two dimensionsof project culture, have a negative statistical correlation withperceived satisfaction of the process, commercial success, futurebusiness opportunities, lessons learnt from the project, satisfactionwith the relationships, and overall performance. This paper alsoindicates that the affordability of developing an appropriate projectculture is a major concern for industry practitioners.

  20. Universal portfolios in stochastic portfolio theory

    OpenAIRE

    Wong, Ting-Kam Leonard

    2015-01-01

    Consider a family of portfolio strategies with the aim of achieving the asymptotic growth rate of the best one. The idea behind Cover's universal portfolio is to build a wealth-weighted average which can be viewed as a buy-and-hold portfolio of portfolios. When an optimal portfolio exists, the wealth-weighted average converges to it by concentration of wealth. Working under a discrete time and pathwise setup, we show under suitable conditions that the distribution of wealth in the family sati...

  1. IT Portfolio Management

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Kræmmergaard, Pernille

    2012-01-01

    information about internal recourses, (4) Lack of operational goals to hold IT projects accountable, (5) No account of actual IT project costs. These results may be used to inform further research into IT PPM and to help managers improve IT PPM practices in public organizations in their effort of increase......As public organizations increasingly rely on IT-enabled development to provide faster cycle times and better services, IT Project Portfolio Management (IT PPM) has become a high priority issue. This research adopts engaged scholarship to investigate IT PPM practices within a large local government...... on the theory’s distinction between different modes of control five problems in control is identified: (1) weak accountability processes between the political and the administrative level, (2) weak accountability processes between director level and the IT executives, (3) IT projects established on incomplete...

  2. Cross Cultural Images: The ETSU/NAU Special Photography Project.

    Science.gov (United States)

    Montgomery, Donna; Sluss, Dorothy; Lewis, Jamie; Vervelde, Peggy; Prater, Greg; Minner, Sam

    Recreation is a significant part of a full and rich life but is frequently overlooked in relation to handicapped children. A project called Cross-Cultural Images aimed to improve the quality of life for handicapped children by teaching them avocational photography skills. The project involved mildly handicapped children aged 7-11 in Appalachia, on…

  3. Portfolios and the market geometry

    Science.gov (United States)

    Eleutério, Samuel; Araújo, Tanya; Vilela Mendes, R.

    2014-09-01

    A geometric analysis of return time series, performed in the past, implied that most of the systematic information in the market is contained in a space of small dimension. Here we have explored subspaces of this space to find out the relative performance of portfolios formed from companies that have the largest projections in each one of the subspaces. As expected, it was found that the best performance portfolios are associated with some of the small eigenvalue subspaces and not to the dominant dimensions. This is found to occur in a systematic fashion over an extended period (1990-2008).

  4. An unbalanced portfolio.

    Science.gov (United States)

    Federsel, Hans-Jurgen

    2009-06-01

    An excellent demonstration of how meaningful and valuable conferences devoted to the topic of project and portfolio management in the pharmaceutical industry can be, was given at an event organized in Barcelona, September 2008. Thus, over this 2-day meeting the delegates were updated on the state of the art in this wide-reaching area from speakers representing an array of companies; from small, relatively new players, via mid-sized, to established large and big pharmas. One common theme that emerged was the importance of assessing the value of drug projects as correctly as possible, especially under the current financial climate and the many challenges facing the industry. Furthermore, experiences from constructing portfolios with the aim to minimize risk and maximize return on investment were shared alongside mathematical approaches to obtain the data required for this purpose and accounts of the pleasures and hardships working in a global context and in partnership constellations. Copyright 2009 Prous Science, S.A.U. or its licensors. All rights reserved.

  5. Cultural tourism in fragile institutional contexts: project for cultural routes in Tierra del Fuego

    OpenAIRE

    Garcés Feliu, Eugenio

    2012-01-01

    The following paper presents a project of Cultural Routes designed for the Chilean Tierra del Fuego, linked to promoting tourism and boosting the economy, through the development of a specific high standard tourism offer, linked to its natural and cultural heritage, with the purpose of capturing the potential income generation for Chile. The project had as main goal to enhance the competitiveness of the tourism sector of special interests in Tierra del Fuego, a key sector of South...

  6. Digital Portfolio: a Strategy for Teachers Professional Development

    Directory of Open Access Journals (Sweden)

    R. Jans

    2008-03-01

    Full Text Available Teachers have to work with e-portfolio with theirstudents. This is a very demanding task because they neverwere educated with e-portfolio themselves. Therefore aEuropean Comenius project was submitted in 2005. In thisapproved project a whole week formation (april 2007 wasoffered to nineteen teachers from all over Europe. A yearlater they will meet again to see in what way the course hashad effects on their work with e-portfolio and students.Most interesting to notice was that the basic ICT-skills ofteachers are nowadays realized. However teachers are stillbusy with text and text-files. Rarely they uploadedmultimedia, like e.g. photo’s, video’s, youtube-movies, … intheir e-portfolio. The essential element of an e-portfolio, thepersonal and professional development plan, that forms thebackbone of the e-portfolio and offers the possibility tomake the e-portfolio an effective learning instrument wasunknown.

  7. Robust Active Portfolio Management

    National Research Council Canada - National Science Library

    Erdogan, E; Goldfarb, D; Iyengar, G

    2006-01-01

    ... on the portfolio beta, and limits on cash and industry exposure. We show that the optimal portfolios can be computed by solving second-order cone programs -- a class of optimization problems with a worst case complexity (i.e...

  8. Changing the Project Execution Culture at NASA Dryden

    Science.gov (United States)

    Horn, Thomas J.

    2012-01-01

    Dryden has embarked on implementing Critical Chain Project Management (CCPM) philosophies and tools to reduce workforce stress and increase the centers work throughput. This effort has been under way for over one year and represents a fundamental state change in how various projects are planned and executed at the center. The implementation of CCPM philosophies and the required cultural changes represent the most difficult aspects of the implementation.

  9. Map of the portfolio of projects of energy efficiency and of renewable energies by the AFD group and the FFEM

    International Nuclear Information System (INIS)

    Guillaumie, Koulm; Briand, Claude; Ries, Alain

    2007-09-01

    The AFD (the French Agency for Development) and the FFEM (French Fund for World Environment) are involved in cooperation and partnership projects for the development of energy efficiency, notably, but not only, in developing and emerging countries. This report first proposes a classification of these projects according to a typology which comprises the concerned sectors (urban planning and housing, fuels, hydroelectricity and wind energy, electricity distribution, industries and services, transports and mobility, capacity building, multi-sector), the intervener (AFD, FFEM, and Proparco, an AFD's subsidy), the project evolution in time (number of projects, evolution of funding), the funding type (loan types, subsidy, credit line), and the geographical area. The second part discusses the conditions to start projects in energy management: legal framework, economic conditions, funding, social and environmental factors, and technical factors. Appendices propose a set of ten technical sheets which indicate and discuss conditions of success as well as obstacles for different types of projects: big dams, mini hydroelectric projects, wind energy, biomass/biogas co-generation, bio-fuels, decentralised rural electrification based on renewable energy projects, collective transports and energy efficiency in transports, development of partnerships and institutional support, multi-sector tools of investment, and carbon market

  10. Cross-Cultural Validation of TEMAS, a Minority Projective Test.

    Science.gov (United States)

    Costantino, Giuseppe; And Others

    The theoretical framework and cross-cultural validation of Tell-Me-A-Story (TEMAS), a projective test developed to measure personality development in ethnic minority children, is presented. The TEMAS test consists of 23 chromatic pictures which incorporate the following characteristics: (1) representation of antithetical concepts which the…

  11. Declarative Modeling for Production Order Portfolio Scheduling

    Directory of Open Access Journals (Sweden)

    Banaszak Zbigniew

    2014-12-01

    Full Text Available A declarative framework enabling to determine conditions as well as to develop decision-making software supporting small- and medium-sized enterprises aimed at unique, multi-project-like and mass customized oriented production is discussed. A set of unique production orders grouped into portfolio orders is considered. Operations executed along different production orders share available resources following a mutual exclusion protocol. A unique product or production batch is completed while following a given activity’s network order. The problem concerns scheduling a newly inserted project portfolio subject to constraints imposed by a multi-project environment The answers sought are: Can a given project portfolio specified by its cost and completion time be completed within the assumed time period in a manufacturing system in hand? Which manufacturing system capability guarantees the completion of a given project portfolio ordered under assumed cost and time constraints? The considered problems regard finding a computationally effective approach aimed at simultaneous routing and allocation as well as batching and scheduling of a newly ordered project portfolio subject to constraints imposed by a multi-project environment. The main objective is to provide a declarative model enabling to state a constraint satisfaction problem aimed at multi-project-like and mass customized oriented production scheduling. Multiple illustrative examples are discussed.

  12. Real Time Investments with Adequate Portfolio Theory

    Directory of Open Access Journals (Sweden)

    Alina Kvietkauskienė

    2015-02-01

    Full Text Available The objective of this paper is to identify investment decision makingschemes using the adequate portfolio model. This approach can be employed to project investment in stocks, using the opportunities offered by the markets and investor intelligence. It was decided to use adequate portfolio theory for investment decision making, simulation of financial markets, and optimisation of utility function. The main conclusion of article suggests investigating return on individual portfolio level. Real investment is a way to make sure of the soundness of applicable strategies.

  13. Agile project portfolio management, new solutions and new challenges: preliminary findings from a case study of an agile organization

    DEFF Research Database (Denmark)

    Hansen, Lars Kristian; Svejvig, Per

    project management framework including two complementary perspectives. One perspective, denoted as classical project management (CPM), highlights key characteristics of traditional PPM practices. A second perspective, denoted as rethinking project management (RPM), highlights characteristics...... of progressive PPM practices. We investigate a large Danish company by applying the research question: “How does agile PPM manifests itself in a real organization and what are the observed pros and cons?” Surprisingly, when summa-rizing our results, we find some traits of concepts from the CPM perspective...... that are manifested in strict control of projects and programs. Furthermore, we find the traits of the RPM perspective more dominating than the CPM perspective, and these traits are mostly found to have desirable effects. CPM traits seem to improve the organi-zation’s ability to cope with uncertainty, a so...

  14. Comprehensive Education Portfolio with a Career Focus

    Science.gov (United States)

    Kruger, Evonne J.; Holtzman, Diane M.; Dagavarian, Debra A.

    2013-01-01

    There are many types of student portfolios used within academia: the prior learning portfolio, credentialing portfolio, developmental portfolio, capstone portfolio, individual course portfolio, and the comprehensive education portfolio. The comprehensive education portfolio (CEP), as used by the authors, is a student portfolio, developed over…

  15. Concurrent credit portfolio losses.

    Science.gov (United States)

    Sicking, Joachim; Guhr, Thomas; Schäfer, Rudi

    2018-01-01

    We consider the problem of concurrent portfolio losses in two non-overlapping credit portfolios. In order to explore the full statistical dependence structure of such portfolio losses, we estimate their empirical pairwise copulas. Instead of a Gaussian dependence, we typically find a strong asymmetry in the copulas. Concurrent large portfolio losses are much more likely than small ones. Studying the dependences of these losses as a function of portfolio size, we moreover reveal that not only large portfolios of thousands of contracts, but also medium-sized and small ones with only a few dozens of contracts exhibit notable portfolio loss correlations. Anticipated idiosyncratic effects turn out to be negligible. These are troublesome insights not only for investors in structured fixed-income products, but particularly for the stability of the financial sector. JEL codes: C32, F34, G21, G32, H81.

  16. The Impact of Project Organizational Culture on the Performance of Construction Projects

    Directory of Open Access Journals (Sweden)

    Luong Hai Nguyen

    2017-05-01

    Full Text Available Cultural influence has recently received significant attention from academics due to its vital role in the success or failure of a project. In the construction industry, several empirical investigations have examined the influence of culture on project management. The aim of this study is to determine the impact of project organizational culture on the performance of construction projects. A total of 199 completed construction projects in Vietnam with specific data gathering through questionnaires were analyzed. The findings reveal that contractor commitment to contract agreements is the most significant cultural factor affecting project performance. Goal alignment and reliance, contractor commitment, and worker orientation (i.e., commitment to workers contribute to improved overall performance and participant satisfaction. Contractor commitment and cooperative orientation enhance labor productivity, whereas goal alignment and trust and contractor commitment ensure learning performance (i.e., learning from experience. The findings of this study may assist construction professionals in implementing practices that can contribute to the sustainability and success of construction projects.

  17. Cultural Tourism In Fragile Institutional Contexts Project For Cultural Routes In Tierra Del Fuego

    Directory of Open Access Journals (Sweden)

    Eugenio Garcés Feliú

    2012-12-01

    Full Text Available The following paper presents a project of Cultural Routes designed for the Chilean Tierra del Fuego, linked to promoting tourism and boosting the economy, through the development of a specific high standard tourism offer, linked to its natural and cultural heritage, with the purpose of capturing the potential income generation for Chile. The project had as main goal to enhance the competitiveness of the tourism sector of special interests in Tierra del Fuego, a key sector of Southern Patagonia, through the dissemination and transfer of technologies and knowledge, acquired in over 10 years of research and projects, onto the territory and local agents. These Cultural Routes build an innovative offer, capable of structuring the diverse touristic resources and strengthening the basis for the development of a new stage of national and international tourism market, located on the southern extreme of Chile and America.

  18. A Real Options Perspective on R&D Portfolio Diversification

    NARCIS (Netherlands)

    S. van Bekkum (Sjoerd); H.P.G. Pennings (Enrico); J.T.J. Smit (Han)

    2008-01-01

    textabstractThis paper shows that the presence of conditional staging in R&D (Research & Development) has a critical impact on portfolio risk, and changes diversification arguments when a portfolio is constructed. When R&D projects exhibit option-like characteristics, correlation between projects

  19. 2010-11 Research Portfolio: Research & Development Division

    Science.gov (United States)

    Educational Testing Service, 2010

    2010-01-01

    This document describes the breadth of the research that the ETS (Educational Testing Service) Research & Development division is conducting in 2010. This portfolio will be updated in early 2011 to reflect changes to existing projects and new projects that were added after this document was completed. The research described in this portfolio falls…

  20. Poetics and Politics of the European Capital of Culture Project

    DEFF Research Database (Denmark)

    Ooi, Can-Seng; Håkanson, Lars; LaCava, Laura

    2014-01-01

    The European Capital of Culture (ECoC) project was designed to promote European identity and integration. Hosting cities have since carried a variety of visions and objectives, ranging from the improvement of material infrastructure and urban revitalization, over the enhancement of cultural life...... to the alleviation of poverty through increasing employment, and the attraction of more tourists. This variety of hopes is repeatedly articulated, as cities compete to become the next ECoC. Being an ECoC is seen to offer invaluable marketing opportunities to improve the city and its image. This paper situates...

  1. A Bayesian joint model for population and portfolio-specific mortality

    NARCIS (Netherlands)

    van Berkum, F.; Antonio, K.; Vellekoop, M.

    2015-01-01

    Insurers and pension funds must value liabilities using mortality rates that are appropriate for their portfolio. Current practice is to multiply available projections of population mortality with portfolio-specific factors, which are often determined using Generalised Linear Models. Alternatively,

  2. Decentralized portfolio management

    OpenAIRE

    Coutinho, Paulo; Tabak, Benjamin Miranda

    2003-01-01

    We use a mean-variance model to analyze the problem of decentralized portfolio management. We find the solution for the optimal portfolio allocation for a head trader operating in n different markets, which is called the optimal centralized portfolio. However, as there are many traders specialized in different markets, the solution to the problem of optimal decentralized allocation should be different from the centralized case. In this paper we derive conditions for the solutions to be equiva...

  3. Risk modelling in portfolio optimization

    Science.gov (United States)

    Lam, W. H.; Jaaman, Saiful Hafizah Hj.; Isa, Zaidi

    2013-09-01

    Risk management is very important in portfolio optimization. The mean-variance model has been used in portfolio optimization to minimize the investment risk. The objective of the mean-variance model is to minimize the portfolio risk and achieve the target rate of return. Variance is used as risk measure in the mean-variance model. The purpose of this study is to compare the portfolio composition as well as performance between the optimal portfolio of mean-variance model and equally weighted portfolio. Equally weighted portfolio means the proportions that are invested in each asset are equal. The results show that the portfolio composition of the mean-variance optimal portfolio and equally weighted portfolio are different. Besides that, the mean-variance optimal portfolio gives better performance because it gives higher performance ratio than the equally weighted portfolio.

  4. Assessing local resources and culture before instituting quality improvement projects.

    Science.gov (United States)

    Hawkins, C Matthew

    2014-12-01

    The planning phases of quality improvement projects are commonly overlooked. Disorganized planning and implementation can escalate chaos, intensify resistance to change, and increase the likelihood of failure. Two important steps in the planning phase are (1) assessing local resources available to aid in the quality improvement project and (2) evaluating the culture in which the desired change is to be implemented. Assessing local resources includes identifying and engaging key stakeholders and evaluating if appropriate expertise is available for the scope of the project. This process also involves engaging informaticists and gathering available IT tools to plan and automate (to the extent possible) the data-gathering, analysis, and feedback steps. Culture in a department is influenced by the ability and willingness to manage resistance to change, build consensus, span boundaries between stakeholders, and become a learning organization. Allotting appropriate time to perform these preparatory steps will increase the odds of successfully performing a quality improvement project and implementing change. Copyright © 2014 American College of Radiology. Published by Elsevier Inc. All rights reserved.

  5. Edutainment, cultural innovation and social inclusion. Fort360, a project for cultural heritage enhancement

    Directory of Open Access Journals (Sweden)

    Paolo Di Pietro Martinelli

    2016-12-01

    Full Text Available   Fort360 project is a cultural initiative that receives the main directives of edutainment processes, trying to provide an answer to the necessity of a capillary system of information and awareness about the dismissing cultural heritage. The proposed study – carried out in the Fort Bravetta, Rome – presents a video where the educational aspect, related to the historical and architectural site contents, is strictly connected with the playful and emotional quality, resulted from a VR interaction with a panoramic video. This first case study focuses on the use of low-cost digital instrumentation and tries to improve the value of culture from the bottom, proposing an alternative way of cultural heritage enjoyment, based on participation and on interdisciplinarity of the proposed contents.

  6. Applying Cultural Project Based Learning to Develop Students’ Academic Writing

    Directory of Open Access Journals (Sweden)

    Lulus Irawati

    2015-06-01

    Full Text Available Writing is considered to be the most demanding and difficult skill for many college students, since there are some steps to be followed such as prewriting, drafting, editing, revising and publishing. The interesting topic like culture including lifestyle, costume, and custom is necessary to be offered in Academic Writing class. Accordingly, this article aims to elaborate the application of a cultural project based learning to develop students’ ability in academic writing. This descriptive qualitative research was conducted in Academic Writing class consisting of 20 students of the fourth semester. The students were divided into some groups, each consisting of 4-5 people assigned to make a cultural project within 6 weeks, in the form of essay. Each member of the groups has to create his/ her own essay and then compile the essays to be a mini-journal. Therefore, one group has one mini-journal consisting of 4-5 essays. To check the content of mini-journal, the lecturer also asked the groups to present in front of the class to get some suggestions, feedback, or comments.

  7. Research on evaluation of enterprise project culture based on Denison model

    Directory of Open Access Journals (Sweden)

    Yucheng Zeng

    2015-05-01

    Full Text Available Purpose: The purpose of this paper is to build enterprise project culture evaluation model and search for the best evaluation method for Chinese enterprise project culture on the basis of studying and drawing lessons from enterprise culture evaluation theory and method at home and abroad. Design/methodology/approach: Referring to the Denison enterprise culture evaluation model, this paper optimizes it according to the difference of enterprise project culture, designs the enterprise project culture evaluation model and proves the practicability of the model through empirical. Finding: This paper finds that it`s more applicable to use the Denison model for enterprise project culture evaluation through the comparative analysis of domestic and foreign enterprise culture evaluation theory and method, the systematic project culture management framework of Chinese enterprises has not yet formed through empirical research, and four factors in enterprise project culture have important influence on project operation performance improvement. Research limitations/implications: The research on evaluation of enterprise project culture based on Denison model is a preliminary attempt, the design of evaluation index system, evaluation model and scale structure also need to be improved, but the thinking of this paper in this field provides a valuable reference for future research. Practical Implications: This paper provides the support of theory and practice for evaluating the present situation of enterprise project culture construction and analyzing the advantages and disadvantages of project culture, which contributes to the "dialectical therapy" of enterprise project management, enterprise management and enterprise project culture construction. Originality/value: The main contribution of this paper is the introduction of Denison enterprise culture model. Combining with the actual situation of enterprises, this paper also builds the evaluation model for

  8. PSN: Portfolio Social Network

    DEFF Research Database (Denmark)

    Cortes, Jordi Magrina; Nizamani, Sarwat; Memon, Nasrullah

    2014-01-01

    In this paper we present a web-based information system which is a portfolio social network (PSN) that provides solutions to the recruiters and job seekers. The proposed system enables users to create portfolio so that he/she can add his specializations with piece of code if any specifically...

  9. Using Electronic Portfolios

    Science.gov (United States)

    Page, Deb

    2012-01-01

    The digitized collections of artifacts known as electronic portfolios are creating solutions to a variety of performance improvement needs in ways that are cost-effective and improve both individual and group learning and performance. When social media functionality is embedded in e-portfolios, the tools support collaboration, social learning,…

  10. Households' portfolio choices

    NARCIS (Netherlands)

    Hochgürtel, S.

    1998-01-01

    This thesis presents four topics on households' portfolio choices. Empirically, households do not hold well-diversified wealth portfolios. In particular, they refrain from putting their savings into risky assets. We explore several ways that might help explaining this observation. Using Dutch

  11. Portfolio i erhvervsuddannelserne

    DEFF Research Database (Denmark)

    2008-01-01

    Materialet kombinerer korte film med introducerende tekster og belyser fra forskellige vinkler, hvordan portfolio kan bruges som evalueringsmetode i erhvervsuddannelserne. Udgiver: Undervisningsministeriet Udgivelsessted: Pub.uvm.dk......Materialet kombinerer korte film med introducerende tekster og belyser fra forskellige vinkler, hvordan portfolio kan bruges som evalueringsmetode i erhvervsuddannelserne. Udgiver: Undervisningsministeriet Udgivelsessted: Pub.uvm.dk...

  12. Leptokurtic portfolio theory

    Science.gov (United States)

    Kitt, R.; Kalda, J.

    2006-03-01

    The question of optimal portfolio is addressed. The conventional Markowitz portfolio optimisation is discussed and the shortcomings due to non-Gaussian security returns are outlined. A method is proposed to minimise the likelihood of extreme non-Gaussian drawdowns of the portfolio value. The theory is called Leptokurtic, because it minimises the effects from “fat tails” of returns. The leptokurtic portfolio theory provides an optimal portfolio for investors, who define their risk-aversion as unwillingness to experience sharp drawdowns in asset prices. Two types of risks in asset returns are defined: a fluctuation risk, that has Gaussian distribution, and a drawdown risk, that deals with distribution tails. These risks are quantitatively measured by defining the “noise kernel” — an ellipsoidal cloud of points in the space of asset returns. The size of the ellipse is controlled with the threshold parameter: the larger the threshold parameter, the larger return are accepted for investors as normal fluctuations. The return vectors falling into the kernel are used for calculation of fluctuation risk. Analogously, the data points falling outside the kernel are used for the calculation of drawdown risks. As a result the portfolio optimisation problem becomes three-dimensional: in addition to the return, there are two types of risks involved. Optimal portfolio for drawdown-averse investors is the portfolio minimising variance outside the noise kernel. The theory has been tested with MSCI North America, Europe and Pacific total return stock indices.

  13. Safety Culture Enhancement Project. Final Report. A Field Study on Approaches to Enhancement of Safety Culture

    International Nuclear Information System (INIS)

    Lowe, Andrew; Hayward, Brent

    2006-08-01

    This report documents a study with the objective of enhancing safety culture in the Swedish nuclear power industry. A primary objective of this study was to ensure that the latest thinking on human factors principles was being recognised and applied by nuclear power operators as a means of ensuring optimal safety performance. The initial phase of the project was conducted as a pilot study, involving the senior management group at one Swedish nuclear power-producing site. The pilot study enabled the project methodology to be validated after which it was repeated at other Swedish nuclear power industry sites, providing a broad-ranging analysis of opportunities across the industry to enhance safety culture. The introduction to this report contains an overview of safety culture, explains the background to the project and sets out the project rationale and objectives. The methodology used for understanding and analysing the important safety culture issues at each nuclear power site is then described. This section begins with a summary of the processes used in the information gathering and data analysis stage. The six components of the Management Workshops conducted at each site are then described. These workshops used a series of presentations, interactive events and group exercises to: (a) provide feedback to site managers on the safety culture and safety leadership issues identified at their site, and (b) stimulate further safety thinking and provide 'take-away' information and leadership strategies that could be applied to promote safety culture improvements. Section 3, project Findings, contains the main observations and output from the project. These include: - a brief overview of aspects of the local industry operating context that impinge on safety culture; - a summary of strengths or positive attributes observed within the safety culture of the Swedish nuclear industry; - a set of identified opportunities for further improvement; - the aggregated results of the

  14. Safety Culture Enhancement Project. Final Report. A Field Study on Approaches to Enhancement of Safety Culture

    Energy Technology Data Exchange (ETDEWEB)

    Lowe, Andrew; Hayward, Brent (Dedale Asia Pacific, Albert Park VIC 3206 (Australia))

    2006-08-15

    This report documents a study with the objective of enhancing safety culture in the Swedish nuclear power industry. A primary objective of this study was to ensure that the latest thinking on human factors principles was being recognised and applied by nuclear power operators as a means of ensuring optimal safety performance. The initial phase of the project was conducted as a pilot study, involving the senior management group at one Swedish nuclear power-producing site. The pilot study enabled the project methodology to be validated after which it was repeated at other Swedish nuclear power industry sites, providing a broad-ranging analysis of opportunities across the industry to enhance safety culture. The introduction to this report contains an overview of safety culture, explains the background to the project and sets out the project rationale and objectives. The methodology used for understanding and analysing the important safety culture issues at each nuclear power site is then described. This section begins with a summary of the processes used in the information gathering and data analysis stage. The six components of the Management Workshops conducted at each site are then described. These workshops used a series of presentations, interactive events and group exercises to: (a) provide feedback to site managers on the safety culture and safety leadership issues identified at their site, and (b) stimulate further safety thinking and provide 'take-away' information and leadership strategies that could be applied to promote safety culture improvements. Section 3, project Findings, contains the main observations and output from the project. These include: - a brief overview of aspects of the local industry operating context that impinge on safety culture; - a summary of strengths or positive attributes observed within the safety culture of the Swedish nuclear industry; - a set of identified opportunities for further improvement; - the aggregated

  15. Implementation of Online Peer Assessment in a Design for Learning and Portfolio (D4L+P) Program to Help Students Complete Science Projects

    Science.gov (United States)

    Wuttisela, Karntarat; Wuttiprom, Sura; Phonchaiya, Sonthi; Saengsuwan, Sayant

    2016-01-01

    Peer assessment was one of the most effective strategies to improve students' understanding, metacognitive skills, and social interaction. An online tool, "Designing for Learning and Portfolio (D4L+P)", was developed solely to support the T5 (tasks, tools, tutorials, topicresources, and teamwork) method of teaching and learning. This…

  16. A Real Options Perspective On R&D Portfolio Diversification

    NARCIS (Netherlands)

    S. van Bekkum (Sjoerd); H.P.G. Pennings (Enrico); J.T.J. Smit (Han)

    2009-01-01

    textabstractThis paper shows that the conditionality of investment decisions in R&D has a critical impact on portfolio risk, and implies that traditional diversification strategies should be reevaluated when a portfolio is constructed. Real option theory argues that research projects have

  17. Validation of Competencies in E-Portfolios: A Qualitative Analysis

    Science.gov (United States)

    Zawacki-Richter, Olaf; Hanft, Anke; Baecker, Eva Maria

    2011-01-01

    This paper uses the example of an Internet-based advanced studies course to show how the portfolio method, as a competence-based form of examination, can be integrated in a blended learning design. Within the framework of a qualitative analysis of project portfolios, we examined which competencies are documented and how students reflected on their…

  18. The application of scenarios techniques for evaluation of portfolio investments in E and P projects; A aplicacao das tecnicas de cenarios na avaliacao de carteira de investimentos em projetos de E e P

    Energy Technology Data Exchange (ETDEWEB)

    Torres, Arnaldo L.M.; Rocha, Fabio M.; Rodrigues, Joao R.L.; Farias Filho, Jose Rodrigues de; Campagnac, Luiz A.P. [Universidade Federal Fluminense (UFF), Niteroi, RJ (Brazil). Nucleo de Competitividade, Estrategia e Organizacoes (LABCEO)

    2008-07-01

    Managements in the organizations deal daily with decision making, today the market competitiveness requires rationality and efficiency. In the project portfolio management a lot of questions emerge to the management, such as: The projects chosen are really the best projects? They are suitable for the reality of the company? The evaluation criteria are appropriate? The methodology employed is adequate? The application of resources is optimized? There is a real commitment from all levels of the organizational structure? In this context, the objective of this work is to describe a model that try to be more applied to the reality, taking into consideration conceptual and motivational aspects related to the implementation of project management involving high investment with restrictions on resources, and still provide a tool to support decision . (author)

  19. The Challenges and Enhancing Opportunities of Global Project Management: Evidence from Chinese and Dutch Cross-Cultural Project Management

    OpenAIRE

    Zhang, Ying; Marquis, Christopher G; Filippov, Sergey; Haasnoot, Henk-Jan; van der Steen, Martijn

    2015-01-01

    This study investigates the role of national and organisational culture in day-to-day activities of multinational project teams, specifically focusing on differences between Chinese and Dutch project managers. We rely on fieldwork observation and interviews with representatives from a diverse set of organizations in China and the Netherlands. Analyses focus on the impact of cultural differences on five project management processes – (1) project planning, (2) cost and quality management, (3) r...

  20. Utility portfolio diversification

    International Nuclear Information System (INIS)

    Griffes, P.H.

    1990-01-01

    This paper discusses portfolio analysis as a method to evaluate utility supply decisions. Specifically a utility is assumed to increase the value of its portfolio of assets whenever it invests in a new supply technology. This increase in value occurs because the new asset either enhances the return or diversifies the risks of the firm's portfolio of assets. This evaluation method is applied to two supply innovations in the electric utility industry: jointly-owned generating plants and supply contracts with independent power producers (IPPs)

  1. Constant Proportion Portfolio Insurance

    DEFF Research Database (Denmark)

    Jessen, Cathrine

    2014-01-01

    on the theme, originally proposed by Fischer Black. In CPPI, a financial institution guarantees a floor value for the “insured” portfolio and adjusts the stock/bond mix to produce a leveraged exposure to the risky assets, which depends on how far the portfolio value is above the floor. Plain-vanilla portfolio...... insurance largely died with the crash of 1987, but CPPI is still going strong. In the frictionless markets of finance theory, the issuer’s strategy to hedge its liability under the contract is clear, but in the real world with transactions costs and stochastic jump risk, the optimal strategy is less obvious...

  2. Learning Styles and e-portfolio in Nursing Education

    DEFF Research Database (Denmark)

    Nielsen, Kirsten; Pedersen, Birthe D.; Helms, Niels Henrik

    Purpose of the study Research from UK and USA indicates that an e-portfolio facilitates a stronger connection between theoretical and clinical studies in Nursing Education. It helps students reflect over practice and their own skills. Yet other results show that an e-portfolio is a time consumer....... Thus, the aim of this project is to examine the effects of an e-portfolio on nursing students learning of patients with chronic illness during their clinical practice, and to investigate if it makes any difference in facilitating four learning styles: the activist, the reflector, the theorist...... through observations in clinical settings, narrative interviews, and print-outs from the students e-portfolio. Findings So far a pilot project with a questionnaire shows that 84% of the students and nurses reported that the e-portfolio has a positive effect on students learning in clinical settings...

  3. Portfolio Management System

    Data.gov (United States)

    US Agency for International Development — PfMS is an implementation of WorkLenz. WorkLenz is USAID's portfolio management system tool. It is a commercially available, off-the-shelf (COTS) package that...

  4. Designing Modern Equity Portfolios

    OpenAIRE

    Ronald Jean Degen

    2011-01-01

    This aim of this paper is to describe possible ways of investing in equity; choosing the right stocks(among small-cap, large-cap, value, growth, and foreign) using fundamental analysis, defining their appropriate mix in the portfolios according to the desired return-risk profiles based on Markowitz?s modern portfolio theory, and using technical analysis to buy and sell them.

  5. Soft city culture and technology the Betaville Project

    CERN Document Server

    Skelton, Carl

    2014-01-01

    Soft City Culture and Technology: The Betaville Project discusses the complete cycle of conception, development, and deployment of the Betaville platform. Betaville is a massively participatory online environment for distributed 3D design and development of proposals for changes to the built environment– an experimental integration of art, design, and software development for the public realm. Through a detailed account of Betaville from a Big Crazy Idea to a working "deep social medium", the author examines the current conditions of performance and accessibility of hardware, software, networks, and skills that can be brought together into a new form of open public design and deliberation space, for and spanning and integrating the disparate spheres of art, architecture, social media, and engineering. Betaville is an ambitious enterprise, of building compelling and constructive working relationships in situations where roles and disciplinary boundaries must be as agile as the development process of the soft...

  6. Adopting a Cultural Portfolio Project in Teaching German as a Foreign Language: Language Teacher Cognition as a Dynamic System

    Science.gov (United States)

    Feryok, Anne; Oranje, Jo

    2015-01-01

    Intercultural language teaching and learning has increasingly been adopted in state school systems, yet studies have shown that language teachers struggle to include it in their practice. The aim of this study is to use dynamic systems theory to examine how a German as a foreign language teacher in a New Zealand secondary school adopted a project…

  7. Making practice transparent through e-portfolio.

    Science.gov (United States)

    Stewart, Sarah M

    2013-12-01

    Midwives are required to maintain a professional portfolio as part of their statutory requirements. Some midwives are using open social networking tools and processes to develop an e-portfolio. However, confidentiality of patient and client data and professional reputation have to be taken into consideration when using online public spaces for reflection. There is little evidence about how midwives use social networking tools for ongoing learning. It is uncertain how reflecting in an e-portfolio with an audience impacts on learning outcomes. This paper investigates ways in which reflective midwifery practice be carried out using e-portfolio in open, social networking platforms using collaborative processes. Using an auto-ethnographic approach I explored my e-portfolio and selected posts that had attracted six or more comments. I used thematic analysis to identify themes within the textual conversations in the posts and responses posted by readers. The analysis identified that my collaborative e-portfolio had four themes: to provide commentary and discuss issues; to reflect and process learning; to seek advice, brainstorm and process ideas for practice, projects and research, and provide evidence of professional development. E-portfolio using open social networking tools and processes is a viable option for midwives because it facilitates collaborative reflection and shared learning. However, my experience shows that concerns about what people think, and client confidentiality does impact on the nature of open reflection and learning outcomes. I conclude this paper with a framework for managing midwifery statutory obligations using online public spaces and social networking tools. Copyright © 2013 Australian College of Midwives. Published by Elsevier Ltd. All rights reserved.

  8. Participatory Methods and UCA Project: understanding technologies as culture

    Directory of Open Access Journals (Sweden)

    Magda Pischetola

    2015-12-01

    Full Text Available Abstract In the complex and changing context of digital culture, the media become an important space of relation, as they have the crucial role of articulating new cultural logics that lead to disruptions in the school environment. To understand this change, new methods of analysis and research have been created, the so-called Participatory Methodologies. They are action research strategies aimed at intervening in a given social situation. In the analysis proposed here, such methodologies will help us to address the challenge of involving digital technologies in school culture, through the participation of different individuals involved. Two qualitative case studies about the project Um Computador por Aluno – the Brazilian One Laptop per Child -, carried out in 2012 in the schools of Santa Catarina and Bahia, are the first of two phases of the research presented. The results concern a "vertical" form of technology insertion in schools, which led to frustration and de-motivation at several levels. Starting from these considerations, the second stage of research proposes a pedagogical intervention in one of four schools in the field. The methodologies of participatory video and photography are chosen as possibilities of action-reflection-action on the sociocultural reality of students through the experience of sharing. The results show the importance of carrying out creative activities, appropriate to a social conception of learning, as well as the centrality of children and youth as agency and a broader need to redefine the relationship between teacher and student, in a more "horizontal" perspective process of teaching and learning. Keywords: Projeto UCA. Participatory Research Method. Innovative teaching-learning.

  9. Machine-based mapping of innovation portfolios

    NARCIS (Netherlands)

    de Visser, Matthias; Miao, Shengfa; Englebienne, Gwenn; Sools, Anna Maria; Visscher, Klaasjan

    2017-01-01

    Machine learning techniques show a great promise for improving innovation portfolio management. In this paper we experiment with different methods to classify innovation projects of a high-tech firm as either explorative or exploitative, and compare the results with a manual, theory-based mapping of

  10. Optimal wind power deployment in Europe. A portfolio approach

    International Nuclear Information System (INIS)

    Roques, Fabien; Hiroux, Celine; Saguan, Marcelo

    2010-01-01

    Geographic diversification of wind farms can smooth out the fluctuations in wind power generation and reduce the associated system balancing and reliability costs. The paper uses historical wind production data from five European countries (Austria, Denmark, France, Germany, and Spain) and applies the Mean-Variance Portfolio theory to identify cross-country portfolios that minimise the total variance of wind production for a given level of production. Theoretical unconstrained portfolios show that countries (Spain and Denmark) with the best wind resource or whose size contributes to smoothing out the country output variability dominate optimal portfolios. The methodology is then elaborated to derive optimal constrained portfolios taking into account national wind resource potential and transmission constraints and compare them with the projected portfolios for 2020. Such constraints limit the theoretical potential efficiency gains from geographical diversification, but there is still considerable room to improve performance from actual or projected portfolios. These results highlight the need for more cross-border interconnection capacity, for greater coordination of European renewable support policies, and for renewable support mechanisms and electricity market designs providing locational incentives. Under these conditions, a mechanism for renewables credits trading could help aligning wind power portfolios with the theoretically efficient geographic dispersion. (author)

  11. MOSEP – More Self-Esteem With My E-Portfolio Development of a Train-the-Trainer Course for E-Portfolio Tutors

    Directory of Open Access Journals (Sweden)

    Wolf Hilzensauer

    2009-03-01

    Full Text Available E-portfolios are known as a technology- supported learning method for the documentation of competency development. In this article the didactic approach, the course design and the results of the Leonardo da Vinci project MOSEP (More self-esteem with my e-portfolio are described. The main objective of the project was to develop, test and evaluate a new e-portfolio training concept for teachers and tutors in order to support learners during their competence development phase.

  12. A Bicriteria Approach Identifying Nondominated Portfolios

    Directory of Open Access Journals (Sweden)

    Javier Pereira

    2014-01-01

    Full Text Available We explore a portfolio constructive model, formulated in terms of satisfaction of a given set of technical requirements, with the minimum number of projects and minimum redundancy. An algorithm issued from robust portfolio modeling is adapted to a vector model, modifying the dominance condition as convenient, in order to find the set of nondominated portfolios, as solutions of a bicriteria integer linear programming problem. In order to improve the former algorithm, a process finding an optimal solution of a monocriteria version of this problem is proposed, which is further used as a first feasible solution aiding to find nondominated solutions more rapidly. Next, a sorting process is applied on the input data or information matrix, which is intended to prune nonfeasible solutions early in the constructive algorithm. Numerical examples show that the optimization and sorting processes both improve computational efficiency of the original algorithm. Their limits are also shown on certain complex instances.

  13. Backtesting Portfolio Value-at-Risk with Estimated Portfolio Weights

    OpenAIRE

    Pei Pei

    2010-01-01

    This paper theoretically and empirically analyzes backtesting portfolio VaR with estimation risk in an intrinsically multivariate framework. For the first time in the literature, it takes into account the estimation of portfolio weights in forecasting portfolio VaR and its impact on backtesting. It shows that the estimation risk from estimating the portfolio weights as well as that from estimating the multivariate dynamic model of asset returns make the existing methods in a univariate framew...

  14. The Role of Learning- and Presentation- Portfolios in Design Educations

    DEFF Research Database (Denmark)

    Thomsen, Bente Dahl; Ovesen, Nis

    2014-01-01

    Students that primarily study design through team-based projects often struggle to develop presentation portfolios that differentiate from the ones of other students. In the industry, design managers experience this as a problem, as they often receive job applications with presentation portfolios...... resources from other activities, which is why the templates have to be carefully balanced in order to achieve the desired effect. The portfolio method proved to be especially good at illustrating process related competencies.......Students that primarily study design through team-based projects often struggle to develop presentation portfolios that differentiate from the ones of other students. In the industry, design managers experience this as a problem, as they often receive job applications with presentation portfolios...... of the portfolio method in engineering design educations, this research project has investigated the method as part of a course programme. The preliminary experiments and results show that learning portfolio templates are effective in strengthening certain activities. On the other hand, the method risks draining...

  15. 76 FR 23642 - Culturally Significant Objects Imported for Exhibition Determinations: “Projects 95: Runa Islam”

    Science.gov (United States)

    2011-04-27

    ... DEPARTMENT OF STATE [Public Notice: 7433] Culturally Significant Objects Imported for Exhibition Determinations: ``Projects 95: Runa Islam'' SUMMARY: Notice is hereby given of the following determinations... the exhibition ``Projects 95: Runa Islam'' imported from abroad for temporary exhibition within the...

  16. Decentralized Portfolio Management

    Directory of Open Access Journals (Sweden)

    Benjamin Miranda Tabak

    2003-12-01

    Full Text Available We use a mean-variance model to analyze the problem of decentralized portfolio management. We find the solution for the optimal portfolio allocation for a head trader operating in n different markets, which is called the optimal centralized portfolio. However, as there are many traders specialized in different markets, the solution to the problem of optimal decentralized allocation should be different from the centralized case. In this paper we derive conditions for the solutions to be equivalent. We use multivariate normal returns and a negative exponential function to solve the problem analytically. We generate the equivalence of solutions by assuming that different traders face different interest rates for borrowing and lending. This interest rate is dependent on the ratio of the degrees of risk aversion of the trader and the head trader, on the excess return, and on the correlation between asset returns.

  17. Linearly Adjustable International Portfolios

    Science.gov (United States)

    Fonseca, R. J.; Kuhn, D.; Rustem, B.

    2010-09-01

    We present an approach to multi-stage international portfolio optimization based on the imposition of a linear structure on the recourse decisions. Multiperiod decision problems are traditionally formulated as stochastic programs. Scenario tree based solutions however can become intractable as the number of stages increases. By restricting the space of decision policies to linear rules, we obtain a conservative tractable approximation to the original problem. Local asset prices and foreign exchange rates are modelled separately, which allows for a direct measure of their impact on the final portfolio value.

  18. Linearly Adjustable International Portfolios

    International Nuclear Information System (INIS)

    Fonseca, R. J.; Kuhn, D.; Rustem, B.

    2010-01-01

    We present an approach to multi-stage international portfolio optimization based on the imposition of a linear structure on the recourse decisions. Multiperiod decision problems are traditionally formulated as stochastic programs. Scenario tree based solutions however can become intractable as the number of stages increases. By restricting the space of decision policies to linear rules, we obtain a conservative tractable approximation to the original problem. Local asset prices and foreign exchange rates are modelled separately, which allows for a direct measure of their impact on the final portfolio value.

  19. Portfolio Analysis for Vector Calculus

    Science.gov (United States)

    Kaplan, Samuel R.

    2015-01-01

    Classic stock portfolio analysis provides an applied context for Lagrange multipliers that undergraduate students appreciate. Although modern methods of portfolio analysis are beyond the scope of vector calculus, classic methods reinforce the utility of this material. This paper discusses how to introduce classic stock portfolio analysis in a…

  20. Improving intercultural competency in global IT projects through recognition of culture-based behaviors

    Directory of Open Access Journals (Sweden)

    Richard Amster

    2016-01-01

    Full Text Available The success of global IT projects is highly influenced by culture-based behaviors. Issues between individuals arise when behaviors are (mis-perceived, (mis-interpreted, and (mis-judged by using the perceiver’s expectations, beliefs, and values. Misperception results when the behavior is not anticipated because it would not occur in ones own culture. As a result, behavior should be the starting point for cross-cultural research. But, studies have primarily focused on belief and value systems which are more abstract and less specific than behaviors. This paper presents a study that analyzed cultural behavioral differences between Indian project managers and their counterparts in other countries. The conducted qualitative, semi-structured interviews revealed insights into cross-cultural challenges and shed light on the complex ways that culture-based behaviors impact IT projects. The study identified 127 behaviors that significantly affected project success and cross-cultural cooperation between Indian managers and managers from all over the world. These behaviors were grouped into 19 behavior clusters. Understanding these behavior clusters, and correlating these behaviors to values and beliefs, will improve project collaboration, and inform cross-cultural training strategies. In addition, existing cultural dimensions were reduced in scope, additional dimensions were defined for clarity, and new business-related dimensions were identified. Finally, based on the study’s results, the paper suggests four important components that should be added to cross-cultural training programs for international project managers.

  1. The Senegal Project: A Cultural Foods Unit for Middle School Students

    Science.gov (United States)

    Nelson, Diane

    2011-01-01

    The Senegal Project is the culminating project in a unit on cultural foods in an 8th grade family and consumer sciences (FCS) course. Initially, students take a quick world tour by studying and cooking foods from Mexico, Italy, China, and India followed by a "more depth and less breadth" study of Senegal, a country with a culture vastly…

  2. Evaluation of IP Portfolios

    DEFF Research Database (Denmark)

    Søberg, Peder Veng

    2009-01-01

    As a result of an inquiry concerning how to evaluate IP (intellectual property) portfolios in order to enable the best possible use of IP resources within organizations, an IP evaluation approach primarily applicable for patents and utility models is developed. The developed approach is useful...... of the organization owning the IP....

  3. Acreage portfolio management

    International Nuclear Information System (INIS)

    Schneider, Georges

    1994-01-01

    This chapter demonstrates the need for acreage portfolio management at the stage of maturity which has been reached in the UK sector of the North Sea petroleum industry. It outlines the goals, the main features of the deals and the business process. (UK)

  4. Portfolio, refleksion og feedback

    DEFF Research Database (Denmark)

    Hansen, Jens Jørgen; Qvortrup, Ane; Christensen, Inger-Marie F.

    2017-01-01

    Denne leder definerer indledningsvist begrebet portfolio og gør rede for anvendelsesmuligheder i en uddannelseskontekst. Dernæst behandles portfoliometodens kvalitet og effekt for læring og undervisning og de centrale begreber refleksion, progression og feedback præsenteres og diskuteres. Herefter...

  5. Sparse and stable Markowitz portfolios.

    Science.gov (United States)

    Brodie, Joshua; Daubechies, Ingrid; De Mol, Christine; Giannone, Domenico; Loris, Ignace

    2009-07-28

    We consider the problem of portfolio selection within the classical Markowitz mean-variance framework, reformulated as a constrained least-squares regression problem. We propose to add to the objective function a penalty proportional to the sum of the absolute values of the portfolio weights. This penalty regularizes (stabilizes) the optimization problem, encourages sparse portfolios (i.e., portfolios with only few active positions), and allows accounting for transaction costs. Our approach recovers as special cases the no-short-positions portfolios, but does allow for short positions in limited number. We implement this methodology on two benchmark data sets constructed by Fama and French. Using only a modest amount of training data, we construct portfolios whose out-of-sample performance, as measured by Sharpe ratio, is consistently and significantly better than that of the naïve evenly weighted portfolio.

  6. Portfolio optimization retail investor

    Directory of Open Access Journals (Sweden)

    I. А. Kiseleva

    2016-01-01

    Full Text Available The article notes that the task of the investor's risk management is to, on the one hand, as much as possible to strive to achieve the criterion of risk level, and on the other hand, in any case not exceed it. Since the domestic theory of risk management is under development, the problem of the optimal ratio of "risk-income" becomes now of particular relevance. This article discusses the different distribution areas of the private investor in order to obtain the maximum profit. The analysis showed us the overall economic and political system of the country, as well as the legislative provision of guarantees to the investor. To obtain sufficient income and reduce losses it is important to maintain the optimum value found between the amount of the investor's risk and capital transactions. Model of optimal placement of funds led to the conclusion about inexpediency strong increase in the diversification of the investment portfolio (more than 10 different types of assets in the portfolio, since it increases the complexity of its practical form, while the portfolio characteristics are improved significantly. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The analysis shows that there is no single best asset portfolio. It is impossible to increase revenue without increasing the risk or reduce risk without reducing income. Possible combination of the "riskincome" will depend on the objective function. Most diversified and bringing the best return per unit of risk, is a portfolio that contains the most risky assets.

  7. AN EXAMPLE FOR PORTFOLIO PREPARATION IN GERMAN TEACHER TRAINING

    Directory of Open Access Journals (Sweden)

    Hüseyin ARAK

    2017-04-01

    Full Text Available In this study we are trying with the help of portfolio in teacher training and the diagnosis of the learning group concerning their skills in translation from German to Turkish, to show the documentation of the learning process. The portfolio provides a good overview about the performance of the students and it also prepares a basis for assessment. A growing self-awareness of students can be achieved through implementing the portfolio-method. The students should collect and reflect the most important materials and practices leading to key terms of the seminar. It is more than an assessment method it is a surrounding of learning. The work with portfolio has an influence on teaching, learning and assessing. As in detail, this is dependent on the aims and other characteristics of the models which take the portfolio work as a basis. The portfolio provides us a big advantage for the support of the cultural reflection. We can observe the process of the growth of knowledge step by step, because the measurement of the development in a determined period allows us either a written work or a Multiple Choice Test. In this sense we can look at the portfolio as an assessment instrument of a process.

  8. Portfolio management: Finding growth opportunities in a restructured electricity marketplace. Final report

    International Nuclear Information System (INIS)

    Staley, J.; Patterson, A.; Gardner, T.

    1997-12-01

    Energy services companies are rapidly creating a wide array of new products and services for their customers. To penetrate the marketplace most effectively, however, these new offerings should be integrated into cohesive portfolios that meet the needs of key customer segments. This report explores the techniques of portfolio management and describes how this tool can help bring greater balance and focus to an energy provider's product and service portfolios. Portfolio management provides a process for initiating, overseeing, and exiting from diverse investments on the basis of not only the merits of each individual investment, but also the merits of those investments in combination. The principles of portfolio management can be applied to various types of investments, including those involving lines of business, new product initiatives, and project commitments. With the rapid transition to a more competitive environment, these types of market-oriented investments are receiving greater scrutiny in the energy services industry. Accordingly, portfolio management techniques are becoming increasingly important business tools. The project team considers three different categories of portfolio management within the context of the energy services industry. Passive portfolio management focuses on choosing the combination of products/services that will provide the most favorable trade-off of risk and return for a given risk tolerance. Balanced portfolio management provides a more aggressive set of techniques that look broadly at a company's multiple objectives and assist in deploying resources to achieve balance along multiple dimensions. Strategic portfolio management goes even further by helping to define a set of synergistic offerings that reinforce one another and the company's strategic direction. In this report the team also documents case studies of companies that profited from their portfolio management efforts and presents a project design for developing and

  9. Seleção e alocação de recursos em portfólio de projetos: estudo de caso no setor químico Portfolio of projects: case study of selection and balancing

    Directory of Open Access Journals (Sweden)

    Marisa Padovani

    2010-01-01

    Full Text Available Escolher dentre dezenas ou centenas de alternativas, aquelas que deverão compor o portfólio de projetos de uma organização e com qual prioridade, é um problema de decisão multicritério complexo. Este trabalho teve como foco duas etapas críticas da gestão de portfólio: a seleção de projetos e a alocação de recursos. A abordagem metodológica utilizada foi a pesquisa-ação, partindo-se de uma estrutura teórico-conceitual que integra os métodos AHP (Analytic Hierarchy Process e programação inteira em um modelo híbrido. A pesquisa de campo foi desenvolvida em uma empresa do setor químico, escolhida como unidade de análise, na qual foi implementado o modelo híbrido, de tal forma que os diferentes cenários propostos fossem comparados com o cenário real da organização estudada. Pretendeu-se avaliar a importância e utilidade desse modelo no auxílio à tomada de decisões relacionadas à seleção, priorização e alocação de recursos em projetos. Como principal resultado obtido, verificou-se que o uso do modelo contribui para o alinhamento estratégico, melhora a troca de informações entre os tomadores de decisão da empresa; possibilita a simulação de cenários estratégicos em tempo real e a verificação do impacto na carteira de projetos em execução; prioriza os projetos de forma justificável e estruturada; e permite a alocação de recursos baseada em prioridades.Among dozens or hundreds of alternatives, choosing those which should make up the projects portfolio of an organization and which priority level is a complex multi-criteria decision matter. This work aims to apply a management model of projects portfolio, using the AHP (Analytic Hierarchy Process method and an integrated integer program. Another purpose is to validate and evaluate the importance and use of the model to help the decision-making related to the selection, prioritization and balance of projects. Thus, such a model was applied to select and

  10. Teaching Organizational Culture Using a Projective Technique: Collage Construction

    Science.gov (United States)

    Colakoglu, Saba; Littlefield, Jon

    2011-01-01

    Although the topic of "organizational culture" is an integral part of syllabi across a wide range of core business classes such as Principles of Management, Organizational Behavior, and Human Resource Management, few experiential exercises exist that can enhance student understanding and learning of different layers of organizational culture. In…

  11. The Planning, Implementation and Evaluation of a Character-Based School Culture Project in Taiwan

    Science.gov (United States)

    Lee, Chi-Ming

    2009-01-01

    This study focused on the planning, implementation and evaluation of a character-based school culture (CBSC) project in Taiwan. The project integrated the principles of justice, caring and developmental discipline and was influenced by several well-known American models of character education programmes. The CBSC project was conducted in a…

  12. Filling the assessment gap: using a learning portfolio in international development courses.

    Science.gov (United States)

    Omar, Mayeh Abu

    2006-01-01

    The purpose of this research is to describe an action research project that proposed, monitored and evaluated the introduction of a learning portfolio used to replace examinations that were formerly used to assess the core courses. An action research project was undertaken to find out whether the introduction of a portfolio was successful and what could be improved in the process of its implementation. The findings indicate that portfolios are effective to support and assess the academic development of international students. The introduction of a portfolio to replace written examinations in the NCIHD was welcomed by all concerned.

  13. Cultural Issue and its Influence in the Management of Global Project Teams

    Directory of Open Access Journals (Sweden)

    Nadia Lima

    2016-04-01

    Full Text Available The interactions between the project manager and team members may be affected by several variables, such as culture, leadership style of the project manager, and the complexity of the developed tasks. Focused in this context, the objective of this paper is to investigate and describe how the culture issue can affect the anagement of global project teams. It is a qualitative, descriptive study conducted in a large multinational company in the automotive sector. The results of this research show that cultural issues can influence both positively and negatively the management of project global teams and the managers of these projects have to deal with several management challenges that require the adoption of certain ways of dealing with culture impacts in managing their teams to minimize potential problems in this context.

  14. Culture and Loss: A Project of Self-Reflection.

    Science.gov (United States)

    Lewis, Marsha L.

    1998-01-01

    Describes a learning activity that stimulates recollection of nursing students' experiences of loss and grief, helping them examine personal responses, recognize cultural differences in responses, and develop skills for caring for those who are grieving. (SK)

  15. Strategic innovation portfolio management

    Directory of Open Access Journals (Sweden)

    Stanković Ljiljana

    2015-01-01

    Full Text Available In knowledge-based economy, strategic innovation portfolio management becomes more and more important and critical factor of enterprise's success. Value creation for all the participants in value chain is more successful if it is based on efficient resource allocation and improvement of innovation performances. Numerous researches have shown that companies with best position on the market found their competitiveness on efficient development and exploitation of innovations. In decision making process, enterprise's management is constantly faced with challenge to allocate resources and capabilities as efficiently as possible, in both short and long term. In this paper authors present preliminary results of realized empirical research related to strategic innovation portfolio management in ten chosen enterprises in Serbia. The structure of the paper includes the following parts: theoretical background, explanation of research purpose and methodology, discussion of the results and concluding remarks, including limitations and directions for further research.

  16. Acreage portfolio management

    International Nuclear Information System (INIS)

    Schneider, G.M.

    1992-01-01

    This paper reports that the need for managing the acreage portfolio in the UK North Sea arises from fragmentation of holdings and complex field partnerships. The main concepts are building up the heartlands and balancing cashflow forecasts. This has generated a number of friendly win-win deals, motivated by differences in perception of values. The business process includes identifying, evaluating and negotiating deals. The Petroleum Economist plays a central role throughout this process, seeking value gaps and supporting negotiations. Variations in reserves estimates present a major source of value gaps between buyer and seller. Economists need to work closely with engineers and geologists. Portfolio management is an exciting and challenging task which broadens the traditional role of the Petroleum Economist

  17. On portfolio risk diversification

    Science.gov (United States)

    Takada, Hellinton H.; Stern, Julio M.

    2017-06-01

    The first portfolio risk diversification strategy was put into practice by the All Weather fund in 1996. The idea of risk diversification is related to the risk contribution of each available asset class or investment factor to the total portfolio risk. The maximum diversification or the risk parity allocation is achieved when the set of risk contributions is given by a uniform distribution. Meucci (2009) introduced the maximization of the Rényi entropy as part of a leverage constrained optimization problem to achieve such diversified risk contributions when dealing with uncorrelated investment factors. A generalization of the risk parity is the risk budgeting when there is a prior for the distribution of the risk contributions. Our contribution is the generalization of the existent optimization frameworks to be able to solve the risk budgeting problem. In addition, our framework does not possess any leverage constraint.

  18. Hvorfor anvende portfolio eksamen?

    DEFF Research Database (Denmark)

    Elley, Tina Ninka

    2015-01-01

    from the clinical part. The two topics are weighted according to the distribution of ECTS points between theory and clinic. We implemented the portfolio format in November 2012, and the evaluations from the students have shown that the format is good; the students get less stressed at the exam......In Denmark the Biomedical Laboratory Scientist programme lasts for 3½ years, divided into 14 modules of 10 weeks. Every module concludes with an exam, which can be very stressful for the students. A survey was made among the students, confirming this. How can we change some of the exams in order...... to minimize the students' stress level? Then the pedagogical considerations started – where and how to do this? The conclusion was to work with the portfolio format at module 6 and module 7 and make it the exam form, as it was possible to divide the expected learning outcome for the two modules into topics...

  19. Open Source Hbim for Cultural Heritage: a Project Proposal

    Science.gov (United States)

    Diara, F.; Rinaudo, F.

    2018-05-01

    Actual technologies are changing Cultural Heritage research, analysis, conservation and development ways, allowing new innovative approaches. The possibility of integrating Cultural Heritage data, like archaeological information, inside a three-dimensional environment system (like a Building Information Modelling) involve huge benefits for its management, monitoring and valorisation. Nowadays there are many commercial BIM solutions. However, these tools are thought and developed mostly for architecture design or technical installations. An example of better solution could be a dynamic and open platform that might consider Cultural Heritage needs as priority. Suitable solution for better and complete data usability and accessibility could be guaranteed by open source protocols. This choice would allow adapting software to Cultural Heritage needs and not the opposite, thus avoiding methodological stretches. This work will focus exactly on analysis and experimentations about specific characteristics of these kind of open source software (DBMS, CAD, Servers) applied to a Cultural Heritage example, in order to verifying their flexibility, reliability and then creating a dynamic HBIM open source prototype. Indeed, it might be a starting point for a future creation of a complete HBIM open source solution that we could adapt to others Cultural Heritage researches and analysis.

  20. Acreage portfolio management

    International Nuclear Information System (INIS)

    Schneider

    1992-01-01

    This paper reports that the need to manage U.K. North Sea acreage portfolios arises from fragmentation of holdings and complex partnerships. This management has generated friendly rationalization deals motivated by differences in perception of values and aimed at building up heartlands and balancing cash-flow forecasts. The business process includes identifying, evaluating, and negotiating deals. The economist plays a central role within the evaluation team and supports the negotiators

  1. Social and cultural drivers of incentive effectiveness in infrastructure projects

    NARCIS (Netherlands)

    Rose, T.M.; Volker, L.

    2013-01-01

    Formal incentives systems aim to encourage improved performance by offering a reward for the achievement of project-specific goals. Despite argued benefits of incentive systems on project delivery outcomes, there remains debate over how incentive systems can be designed to encourage the formation of

  2. Portfolios in Saudi medical colleges

    Science.gov (United States)

    Fida, Nadia M.; Shamim, Muhammad S.

    2016-01-01

    Over recent decades, the use of portfolios in medical education has evolved, and is being applied in undergraduate and postgraduate programs worldwide. Portfolios, as a learning process and method of documenting and assessing learning, is supported as a valuable tool by adult learning theories that stress the need for learners to be self-directed and to engage in experiential learning. Thoughtfully implemented, a portfolio provides learning experiences unequaled by any single learning tool. The credibility (validity) and dependability (reliability) of assessment through portfolios have been questioned owing to its subjective nature; however, methods to safeguard these features have been described in the literature. This paper discusses some of this literature, with particular attention to the role of portfolios in relation to self-reflective learning, provides an overview of current use of portfolios in undergraduate medical education in Saudi Arabia, and proposes research-based guidelines for its implementation and other similar contexts. PMID:26905344

  3. Effects of Business Model Development Projects on Organizational Culture: A Multiple Case Study of SMEs

    Directory of Open Access Journals (Sweden)

    Ulla Santti

    2017-08-01

    Full Text Available Previous research has shown that links between organizational culture and innovativeness/performance may act as a “social glue” that helps a company develop organizational culture as a competitive advantage. In this study of three case companies, the organizational culture change due business model development projects is studied using the Competing Values Framework (CVF tool and interviews with respondents about discovered changes. To reveal intervention and implied effects between business model development project and organizational culture changes, we used CIMO logic (context, intervention, mechanism, and outcome to bridge practice and theory by explanatory, backward-looking research. Our case studies of companies in relatively short-duration business model development projects indicate that organizational culture may have some dynamic characteristics, for example, an increase of the adhocracy organizational type in all case companies or an increase in the hierarchical leadership type in one case company. Thus, the development of an organizational culture type can be partly controlled. Our results also indicated business model development projects do have a minor effect on organizational culture, even when development activities have not been put fully into practice. However, the more comprehensively business model development project activities have been put into practice, the larger the effect on organizational culture.

  4. Characteristics of the process of culture development project activities (culture of social engineering) at the future bachelors of social work

    OpenAIRE

    Natalya I. Nikitina; Elena Yu. Romanovaa; Tatyana V. Vasilyeva; Irina N. Nikishina; Veronica M. Grebennikova

    2017-01-01

    In modern Russia professional activity productivity of social work specialist depends largely on his abilities and skills in the field of social design. University graduate`s (social work bachelor`s) high level of professional-project activity culture can be regarded as one of the necessary conditions of successful labour market adaptation of young specialists in social sphere institutions. The article discusses various aspects of future social work bachelors` vocational project activity cult...

  5. Cluster analysis for portfolio optimization

    OpenAIRE

    Vincenzo Tola; Fabrizio Lillo; Mauro Gallegati; Rosario N. Mantegna

    2005-01-01

    We consider the problem of the statistical uncertainty of the correlation matrix in the optimization of a financial portfolio. We show that the use of clustering algorithms can improve the reliability of the portfolio in terms of the ratio between predicted and realized risk. Bootstrap analysis indicates that this improvement is obtained in a wide range of the parameters N (number of assets) and T (investment horizon). The predicted and realized risk level and the relative portfolio compositi...

  6. Do portfolios have a future?

    Science.gov (United States)

    Driessen, Erik

    2017-03-01

    While portfolios have seen an unprecedented surge in popularity, they have also become the subject of controversy: learners often perceive little gain from writing reflections as part of their portfolios; scholars question the ethics of such obligatory reflection; and students, residents, teachers and scholars alike condemn the bureaucracy surrounding portfolio implementation in competency-based education. It could be argued that mass adoption without careful attention to purpose and format may well jeopardize portfolios' viability in health sciences education. This paper explores this proposition by addressing the following three main questions: (1) Why do portfolios meet with such resistance from students and teachers, while educators love them?; (2) Is it ethical to require students to reflect and then grade their reflections?; (3) Does competency-based education empower or hamper the learner during workplace-based learning? Twenty-five years of portfolio reveal a clear story: without mentoring, portfolios have no future and are nothing short of bureaucratic hurdles in our competency-based education programs. Moreover, comprehensive portfolios, which are integrated into the curriculum and much more diverse in content than reflective portfolios, can serve as meaningful patient charts, providing doctor and patient with useful information to discuss well-being and treatment. In this sense, portfolios are also learner charts that comprehensively document progress in a learning trajectory which is lubricated by meaningful dialogue between learner and mentor in a trusting relationship to foster learning. If we are able to make such comprehensive and meaningful use of portfolios, then, yes, portfolios do have a bright future in medical education.

  7. Portfolio insurance using traded options

    OpenAIRE

    Machado-Santos, Carlos

    2001-01-01

    Literature concerning the institutional use of options indicates that the main purpose of option trading is to provide investors with the opportunity to create return distributions previously unavailable, considering that options provide the means to manipulate portfolio returns. In such a context, this study intends to analyse the returns of insured portfolios generated by hedging strategies on underlying stock portfolios. Because dynamic hedging is too expensive, we have hedged the stock po...

  8. Specific patterns in portfolio analysis

    Directory of Open Access Journals (Sweden)

    Gabriela Victoria ANGHELACHE

    2013-11-01

    Full Text Available In the mid-twentieth century, under an unprecedented growth of the business of trading in securities, the need to provide a modern framework for assessing the performance of portfolios of financial instruments was felt. To that effect, it is noted that over this period, more and more economists have attempted to develop statistical mathematical models that ensure the evaluation of profitability and portfolio risk securities. These models are considered to be part of "the modern portfolio theory".

  9. Financial Advice and Individual Investor Portfolio Performance

    NARCIS (Netherlands)

    Kramer, M.M.

    2012-01-01

    This paper investigates whether financial advisers add value to individual investors portfolio decisions by comparing portfolios of advised and self-directed (execution-only) Dutch individual investors. The results indicate significant differences in characteristics and portfolios between these

  10. Project 'Use of nuclear techniques in investigation, conservation and management of the cultural historical patrimony

    International Nuclear Information System (INIS)

    Kochmann, Sonnia

    2000-12-01

    This project is aimed at solving problems of conservation of the cultural historical patrimony through the active participation of the member countries of ARCAL by the application of Analytic Nuclear Techniques [es

  11. Applying Cultural Project Based Learning to Develop Students' Academic Writing

    Science.gov (United States)

    Irawati, Lulus

    2015-01-01

    Writing is considered to be the most demanding and difficult skill for many college students, since there are some steps to be followed such as prewriting, drafting, editing, revising and publishing. The interesting topic like culture including lifestyle, costume, and custom is necessary to be offered in Academic Writing class. Accordingly, this…

  12. Characteristics of the Process of Culture Development Project Activities (Culture of Social Engineering) at the Future Bachelors of Social Work

    Science.gov (United States)

    Nikitina, Natalya I.; Romanova, Elena Yu.; Vasilyeva, Tatyana V.; Nikishina, Irina N.; Grebennikova, Veronica M.

    2017-01-01

    In modern Russia professional activity productivity of social work specialist depends largely on his abilities and skills in the field of social design. University graduate's (social work bachelor`s) high level of professional-project activity culture can be regarded as one of the necessary conditions of successful labour market adaptation of…

  13. Portfolio langagier en francais (Language Portfolios in French).

    Science.gov (United States)

    Laplante, Bernard; Christiansen, Helen

    2001-01-01

    Suggests that first-year college students learning French should create a language portfolio that contains documents that illustrate what they have learned in French, along with a brief statement of what linguistic skill the document demonstrates. The goal of the portfolio is to make students more aware of their own learning, their strengths, and…

  14. Multiweek Cell Culture Project for Use in Upper-Level Biology Laboratories

    Science.gov (United States)

    Marion, Rebecca E.; Gardner, Grant E.; Parks, Lisa D.

    2012-01-01

    This article describes a laboratory protocol for a multiweek project piloted in a new upper-level biology laboratory (BIO 426) using cell culture techniques. Human embryonic kidney-293 cells were used, and several culture media and supplements were identified for students to design their own experiments. Treatments included amino acids, EGF,…

  15. University ESL Learners' Cross-Cultural Transitions through Web-Based Project Work

    Science.gov (United States)

    Kang, Migyu; Bruna, Katherine Richardson

    2013-01-01

    This study sought to account for East Asian learners' cross-cultural transitions to US university Intensive English classroom culture within a technology-mediated language teaching approach, PrOCALL (Project-Oriented Computer Assisted Language Learning). It explored the influence of this approach on classroom interaction patterns acquired in the…

  16. Analysis of CDM Projects' Portfolio in West African Economic and Monetary Union - Regional Baseline Assessment in Energy Sector. Case Study: Benin, Burkina Faso, Niger and Togo

    OpenAIRE

    Satoguina, Honorat

    2006-01-01

    This study analyses current energy projects in Benin, Burkina Faso, Niger and Togo. Based on the size of these projects, the study shows that currently, only small scale CDM projects can be developed in these countries in energy sectors. Moreover, baseline emissions factors are assessed for the different electricity grids. These baselines are very low in interconnected grids in cities, while they are relatively high for isolated and non-connected utilities in remote areas. Consequently, count...

  17. Approach to assessing local socio-cultural impacts using projections of population growth and composition

    Energy Technology Data Exchange (ETDEWEB)

    Baldwin, T. E.; Poetsch, R.

    1977-08-01

    All assessment of future domestic development projects assumes that the problems to be examined have been properly identified and defined before the application of a projection technique. An attempt is made to codify socio-cultural problems mentioned in literature and clarify how existing demographic projection techniques can be applied to assessing the problems. The relationship between changes in local population size and composition induced by in-migration and the potential for socio-cultural incompatibilities is described heuristically. For simplification, the problems expected to emerge from differences in demographic composition are classified into three categories: (1) service needs, such as those for housing, recreation, and education; (2) types of social organizations related to capacities for, or constraints on, reaping the benefits of rapid economic development and social changes (e.g., employment and income); and (3) attitudes, values, and cultural perspectives. These areas of concern are very broad, and quantitative projections of population size and composition are more easily related to the first than to the third. Although demographic projection provides a valuable tool for estimating future social change, the knowledge about cause and effect is not sufficient to support the quantification of socio-cultural impact. Therefore, the projections are used only as relative indicators and the assessments of socio-cultural impact based on them are qualitative only. Therefore, identification and assessment of socio-cultural impacts are a means of developing plans to overcome the expected problems.

  18. Effects of Business Model Development Projects on Organizational Culture: A Multiple Case Study of SMEs

    OpenAIRE

    Ulla Santti; Tuomo Eskelinen; Mervi Rajahonka; Kaija Villman; Ari Happonen

    2017-01-01

    Previous research has shown that links between organizational culture and innovativeness/performance may act as a “social glue” that helps a company develop organizational culture as a competitive advantage. In this study of three case companies, the organizational culture change due business model development projects is studied using the Competing Values Framework (CVF) tool and interviews with respondents about discovered changes. To reveal intervention and implied effects between business...

  19. Elderly Service Workers' Training Project. Block B: Cultural Gerontology. Module B.2: German Culture.

    Science.gov (United States)

    Harvey, Dexter; Cap, Orest

    This learning module, which is part of a three-block series intended to help human service workers develop the skills necessary to solve the problems encountered in their daily contact with elderly clients of different cultural backgrounds, deals with German culture. The first section provides background information about the German migrations to…

  20. Cross-Cultural Competencies for the NASA International Internship Project

    Science.gov (United States)

    Niedbala, Elizabeth M.; Feinberg, Jessica

    2017-01-01

    One of the principles that NASA upholds is to cooperate with other nations to advance science, exploration, and discovery for all. Effective cooperation across cultures, however, requires a certain level of skill. A construct called cross-cultural competency (CCC) emphasizes that individuals are capable of acquiring skills that facilitate positive and cooperative interaction with people of another culture. While some aspects of CCC stem from stable individual traits such as personality (i.e., extraversion, tolerance for ambiguity), most components can be learned and strengthened over time (i.e., empathy, mindfulness, trust). Because CCC is such a vital part of international cooperation, this summer we will design a training program to cultivate these skills between student interns, their mentors, and the Ames community as a whole. First, we will research what specific competencies are valuable for anyone to have when working in an international setting. We will then design a series of activities, events, workshops, and discussions that target and strengthen those skills. Finally, we will use both qualitative and quantitative evaluation methods to measure the success of the pilot program. This summer, the current international student interns will serve as our trial population for the program, while our goal is to launch the full program in Fall 2017. Overall, we hope to contribute to NASAs mission of optimizing international collaboration for everyone involved.

  1. UK Household Portfolios

    OpenAIRE

    Banks, James; Smith, Sarah

    2000-01-01

    This paper presents a detailed analysis of the composition of household portfolios, using both aggregate and micro-data. Among the key findings are that: Most household wealth is held in the form of housing and pensions. Over time, there has been a shift away from housing towards financial assets, driven largely by the growth in life and pension funds. Liquid financial wealth (excluding life and pension funds) is not predominantly held in risky form. By far the most commonly held asset is an ...

  2. Portfolios of quantum algorithms.

    Science.gov (United States)

    Maurer, S M; Hogg, T; Huberman, B A

    2001-12-17

    Quantum computation holds promise for the solution of many intractable problems. However, since many quantum algorithms are stochastic in nature they can find the solution of hard problems only probabilistically. Thus the efficiency of the algorithms has to be characterized by both the expected time to completion and the associated variance. In order to minimize both the running time and its uncertainty, we show that portfolios of quantum algorithms analogous to those of finance can outperform single algorithms when applied to the NP-complete problems such as 3-satisfiability.

  3. Æstetik og portfolio

    DEFF Research Database (Denmark)

    Hyldahl, Kirsten Kofod; Sams, Pernille; Egelund, Karen Stine

    2017-01-01

    Nærværende artikel præsenterer resultaterne af udviklingsprojektet ”Portfolio og æstetik” på pædagoguddannelsen i Hjørring. Projektet har til formål, gennem æstetisk formsprog, at stilladsere og fastholde de studerendes læreprocesser samt udvikle og implementere portfolio i studieaktiviteter på...

  4. Patterns of patient safety culture: a complexity and arts-informed project of knowledge translation.

    Science.gov (United States)

    Mitchell, Gail J; Tregunno, Deborah; Gray, Julia; Ginsberg, Liane

    2011-01-01

    The purpose of this paper is to describe patterns of patient safety culture that emerged from an innovative collaboration among health services researchers and fine arts colleagues. The group engaged in an arts-informed knowledge translation project to produce a dramatic expression of patient safety culture research for inclusion in a symposium. Scholars have called for a deeper understanding of the complex interrelationships among structure, process and outcomes relating to patient safety. Four patterns of patient safety culture--blinding familiarity, unyielding determination, illusion of control and dismissive urgency--are described with respect to how they informed creation of an arts-informed project for knowledge translation.

  5. Social and cultural capital in project marketing service firms: Danish architectural firms on the German market

    DEFF Research Database (Denmark)

    Skaates, Maria Anne; Tikkanen, Henrikki; Alajoutsijärvi, Kimmo

    2002-01-01

    This article analyses the marketing activities of three Danish architectural firms in Germany during the 1990s from a perspective that is new to project marketing, in that the Bourdivan concepts of social and cultural capital are applied to the offerings and activities of firms. In architecture...... provide support for our claim that the accumulation of social and cultural capital is crucial to acquiring architectural projects, while also indicating that cultural and social capital are internationally transferable to a limited extent only. This in turn suggests that national construction industries...

  6. 75 FR 3781 - Culturally Significant Object Imported for Exhibition; Determinations: “Projects 92: Yin Xiuzhen”

    Science.gov (United States)

    2010-01-22

    ... DEPARTMENT OF STATE [Public Notice 6884] Culturally Significant Object Imported for Exhibition; Determinations: ``Projects 92: Yin Xiuzhen'' SUMMARY: Notice is hereby given of the following determinations... ``Projects 92: Yin Xiuzhen,'' imported from abroad for temporary exhibition within the United States, is of...

  7. Using Tradtional Ecological Knowledge to Protect Wetlands: the Swinomish Tribe's Wetland Cultural Assessment Project

    Science.gov (United States)

    Mitchell, T.

    2017-12-01

    "Traditional" wetland physical assessment modules do not adequately identify Tribal cultural values of wetlands and thus wetlands may not be adequately protected for cultural uses. This Swinomish Wetlands Cultural Assessment Project has developed a cultural resource scoring module that can be incorporated into wetland assessments to better inform wetland protections. Local native knowledge was gathered about the traditional uses of 99 native wetland plant species. A cultural scoring matrix was developed based on the presence of traditionally used plants in several use categories including: construction, ceremonial, subsistence, medicinal, common use, plant rarity, and place of value for each wetland. The combined score of the cultural and physcial modules provides an overall wetland score that relates to proscribed buffer protection widths. With this local native knowledge incorporated into wetland assessments, we are protecting and preserving Swinomish Reservation wetlands for both cultural uses and ecological functionality through the Tribe's wetland protection law.

  8. A class of multi-period semi-variance portfolio for petroleum exploration and development

    Science.gov (United States)

    Guo, Qiulin; Li, Jianzhong; Zou, Caineng; Guo, Yujuan; Yan, Wei

    2012-10-01

    Variance is substituted by semi-variance in Markowitz's portfolio selection model. For dynamic valuation on exploration and development projects, one period portfolio selection is extended to multi-period. In this article, a class of multi-period semi-variance exploration and development portfolio model is formulated originally. Besides, a hybrid genetic algorithm, which makes use of the position displacement strategy of the particle swarm optimiser as a mutation operation, is applied to solve the multi-period semi-variance model. For this class of portfolio model, numerical results show that the mode is effective and feasible.

  9. Impact of International Collaborative Project on Cultural Competence among Occupational Therapy Students

    Directory of Open Access Journals (Sweden)

    Divya Sood OTD, OTR/L

    2014-07-01

    Full Text Available Occupational therapy (OT educators recognize a need to ensure that OT students are culturally competent. The researchers developed the International Collaborative Project on Cultural Competence (ICPCC to help students understand the impact of cultural context on client care. Entry-level MOT students from a university in the US (N = 18 collaborated with BOT students (N = 4 and advanced MOT students (N = 9 from two universities in India using an online course management system WebCT. The study explored the impact of the ICPCC on OT students’ cultural competence and discusses students’ perceptions of culture on the OT process. The Inventory for Assessing the Process of Cultural Competence Among Health Care Professionals Revised© measured students’ cultural competence at baseline and immediately after participation in the ICPCC. Qualitative data was collected using a Self-Reflection Form. There was an increase in the cultural competence scores among all three groups of students after participating in the ICPCC at p value < .05. Three themes emerged from the qualitative data analysis: meaning of the term culture, impact of cultural on client- centered practice, and impact of cultural on OT outcomes. OT students recognized the role that cultural differences play in OT evaluation and intervention.

  10. ePortfolio & learning styles in Nursing Education

    DEFF Research Database (Denmark)

    Nielsen, Kirsten; Helms, Niels Henrik; Pedersen, Birthe D.

    2012-01-01

    Background Examination of the literature shows both advantages and disadvantages in implementing ePortfolio and learning styles in Nursing Education. The students reflect on nursing practice as well as on their strengths and weaknesses, and reflecting in the portfolio increases self-awareness, pe......Background Examination of the literature shows both advantages and disadvantages in implementing ePortfolio and learning styles in Nursing Education. The students reflect on nursing practice as well as on their strengths and weaknesses, and reflecting in the portfolio increases self...... in clinical settings. Insight into preferred learning style can be an advantage to both students and preceptors in attempt to promote students´ learning potential, but there are quite many different theoretical approaches and definitions of the concept, and reviewers call attention to the risk that teachers...... to intensify the differentiated guidance of students, and developed an ePortfolio which aim to facilitate four learning styles as described by Honey and Mumford. It was tested in a pilot project and now, a qualitative study of how learning is mediated in clinical education through this ePortfolio is passing...

  11. Regularizing portfolio optimization

    International Nuclear Information System (INIS)

    Still, Susanne; Kondor, Imre

    2010-01-01

    The optimization of large portfolios displays an inherent instability due to estimation error. This poses a fundamental problem, because solutions that are not stable under sample fluctuations may look optimal for a given sample, but are, in effect, very far from optimal with respect to the average risk. In this paper, we approach the problem from the point of view of statistical learning theory. The occurrence of the instability is intimately related to over-fitting, which can be avoided using known regularization methods. We show how regularized portfolio optimization with the expected shortfall as a risk measure is related to support vector regression. The budget constraint dictates a modification. We present the resulting optimization problem and discuss the solution. The L2 norm of the weight vector is used as a regularizer, which corresponds to a diversification 'pressure'. This means that diversification, besides counteracting downward fluctuations in some assets by upward fluctuations in others, is also crucial because it improves the stability of the solution. The approach we provide here allows for the simultaneous treatment of optimization and diversification in one framework that enables the investor to trade off between the two, depending on the size of the available dataset.

  12. Regularizing portfolio optimization

    Science.gov (United States)

    Still, Susanne; Kondor, Imre

    2010-07-01

    The optimization of large portfolios displays an inherent instability due to estimation error. This poses a fundamental problem, because solutions that are not stable under sample fluctuations may look optimal for a given sample, but are, in effect, very far from optimal with respect to the average risk. In this paper, we approach the problem from the point of view of statistical learning theory. The occurrence of the instability is intimately related to over-fitting, which can be avoided using known regularization methods. We show how regularized portfolio optimization with the expected shortfall as a risk measure is related to support vector regression. The budget constraint dictates a modification. We present the resulting optimization problem and discuss the solution. The L2 norm of the weight vector is used as a regularizer, which corresponds to a diversification 'pressure'. This means that diversification, besides counteracting downward fluctuations in some assets by upward fluctuations in others, is also crucial because it improves the stability of the solution. The approach we provide here allows for the simultaneous treatment of optimization and diversification in one framework that enables the investor to trade off between the two, depending on the size of the available dataset.

  13. Culture Connection Project: promoting multiculturalism in elementary schools.

    Science.gov (United States)

    Matuk, Lucia Yiu; Ruggirello, Tina

    2007-01-01

    To promote multiculturalism among grade school students through drama education. Grade 3-6 students (N = 665) from 6 targeted schools including lead-class students (n = 158) representing each school. Elementary schools in Windsor-Essex County, Ontario, Canada. In this non-experimental design study, group discussions conducted with each lead class to explore students' understanding of multiculturalism were developed into an interactive drama performance and performed for all grades 3-6 students in their respective schools. A follow-up drama workshop was offered to each lead class one week after the drama performance. All students completed a 7-item questionnaire before and after the drama performance and after the drama workshop. Pre-test and post-test data collected were analyzed using T-test and ANOVA to determine the effects of drama education on students' attitudes toward multiculturalism. Statistical analysis at 0.05 significance level revealed that both the performance and the drama workshop heightened students' awareness of racism, and instilled cultural respect through "talking with others", "accepting others", and "believing that they can make a difference" in multiculturalism promotion. Drama education was an effective experiential tool for promoting multiculturalism in a school setting. The key to promoting inter-racial harmony is to respect and accept individual differences and to broaden the social determinants of health by providing culture safety care.

  14. Implementing Reflective Portfolios for Promoting Autonomous Learning among EFL College Students in Taiwan

    Science.gov (United States)

    Lo, Ya-Fen

    2010-01-01

    This article depicts challenges for students and teachers involved in developing a reflective portfolio to promote autonomous learning in Taiwan. One hundred and one students in a Taiwan university completed their individual portfolio projects. A pre-course questionnaire, post-course self-evaluation, and the instructor's field notes were the data…

  15. ePortfolios in Australian Higher Education Arts: Differences and Differentiations

    Science.gov (United States)

    Rowley, Jennifer; Bennett, Dawn

    2016-01-01

    This paper reports the findings of a project that investigated uses of electronic portfolios (ePortfolios) in the creative and performing arts at four Australian universities and raises four significant areas for discussion: engaging technologies as an ongoing requirement of planning, delivery and evaluation of teaching and learning in higher…

  16. PORTFOLIO PROJECT MANAGEMENT (PPM EM PESQUISA, DESENVOLVIMENTO E INOVAÇÃO (PD&I VOLTADO PARA AÇÕES DE UMA INSTITUIÇÃO DE CIÊNCIA E TECNOLOGIA (ICT

    Directory of Open Access Journals (Sweden)

    Antônio Genésio Vasconcelos Neto

    2014-07-01

    Full Text Available A oferta de tecnologias resultantes de atividades de pesquisa e desenvolvimento (P&D por parte das Instituições de Ciência e Tecnologia (ICT é um diferencial competitivo a ser buscado, tendo em vista sua importância para o posicionamento estratégico do país, bem como para contribuição do desenvolvimento, trazendo consigo benefícios sociais, ambientais e econômicos. Diante deste desafio, apresenta-se uma proposta de Portfolio Project Management (PPM de projetos de New Product Development (NPD em uma ICT, tendo em vista a necessidade de pesquisa e desenvolvimento de tecnologias fomentadoras de oportunidades para que os setores produtivos possam implementá-las e atuarem na promoção de inovações tecnológicas na sociedade. Para isto, apresentam-se resultados práticos decorrentes de action research, com o intuito de oportunizar uma visão ambidestra de reestruturação organizacional focada cultura de inovação tecnológica.

  17. Analysis of the Capability Portfolio Review (CPR)

    Science.gov (United States)

    2014-06-01

    10  2.4.1.1.  The Basics of Modern Portfolio Theory ...of Modern Portfolio Theory Much of modern portfolio management has been motivated by the influential work of Harry Markowitz (Markowitz, 1952) and...unsystematic risk associated with individual stocks, leaving only the generally market risk (Walls, 2004). The basic assumption of modern portfolio theory is

  18. 12 CFR 347.108 - Portfolio investments.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 4 2010-01-01 2010-01-01 false Portfolio investments. 347.108 Section 347.108... INTERNATIONAL BANKING § 347.108 Portfolio investments. (a) Portfolio investments. If a bank, directly or indirectly, acquires or holds an equity interest in a foreign organization as a portfolio investment and the...

  19. Culturally appropriate organization of water and sewerage projects built through public private partnerships.

    Directory of Open Access Journals (Sweden)

    Jessica A Kaminsky

    Full Text Available This paper contributes to the pursuit of socially sustainable water and sanitation infrastructure for all people by discovering statistically robust relationships between Hofstede's dimensions of cross-cultural comparison and the choice of contract award types, project type, and primary revenue sources. This analysis, which represents 973 projects distributed across 24 low- and middle-income nations, uses a World Bank dataset describing high capital cost water and sewerage projects funded through private investment. The results show that cultural dimensions explain variation in the choice of contract award types, project type, and primary revenue sources. These results provide empirical evidence that strategies for water and sewerage project organization are not culturally neutral. The data show, for example, that highly individualistic contexts are more likely to select competitive contract award types and to depend on user fees to provide the primary project revenue stream post-construction. By selecting more locally appropriate ways to organize projects, project stakeholders will be better able to pursue the construction of socially sustainable water and sewerage infrastructure.

  20. Culturally appropriate organization of water and sewerage projects built through public private partnerships.

    Science.gov (United States)

    Kaminsky, Jessica A

    2017-01-01

    This paper contributes to the pursuit of socially sustainable water and sanitation infrastructure for all people by discovering statistically robust relationships between Hofstede's dimensions of cross-cultural comparison and the choice of contract award types, project type, and primary revenue sources. This analysis, which represents 973 projects distributed across 24 low- and middle-income nations, uses a World Bank dataset describing high capital cost water and sewerage projects funded through private investment. The results show that cultural dimensions explain variation in the choice of contract award types, project type, and primary revenue sources. These results provide empirical evidence that strategies for water and sewerage project organization are not culturally neutral. The data show, for example, that highly individualistic contexts are more likely to select competitive contract award types and to depend on user fees to provide the primary project revenue stream post-construction. By selecting more locally appropriate ways to organize projects, project stakeholders will be better able to pursue the construction of socially sustainable water and sewerage infrastructure.

  1. The Student Teacher Portfolio as Autobiography: Developing a Professional Identity.

    Science.gov (United States)

    Antonek, Janis L.; And Others

    1997-01-01

    Argues that student teacher portfolios are a viable, effective, appropriate tool for documenting teacher growth and development and for promoting reflective practice. Traces the unique paths of two pre-service foreign language teachers who constructed a professional identity from the historical and cultural conditions of their classroom…

  2. CULTURAL IMPACT OF THE ORGANIZATIONAL VALUES IN THE ADOPTION OF PROJECT MANAGEMENT PRACTICES

    Directory of Open Access Journals (Sweden)

    Ariza-Aguilera, Dora A.

    2015-12-01

    Full Text Available Project management is a knowledge area that counts with the definition of best practices and methodologies, around the world. However, the use of these practices, is affected by social norms within an organization (Alavi, Kayworth & Leidner, 2005 and by the interpretation made by individuals, about the usefulness of these practices (Stare, 2012. This work seeks to establish the cultural effect of the values in the extent to which people adopt the project management practices in organizations. From the literature review, honesty, formalization, responsibility and justice were identified as values associated to behaviors that include the use of project management practices. A questionnaire was administered to a random sample of 55 companies located in Bogotá, Colombia, from various sectors of industry. Positive relationships between cultural values and the adoption of project management practices was evidenced. It was found that the extent, to which these practices are adopted, is a function of formalization. The theoretical contribution of this research is to provide empirical evidence of the relationship between cultural values and project management practices, since there are no studies about this relation. Its utility is to provide guidance to organizations on the need to promote the formalization as cultural value, to increase the use of project management practices. This integration lead to greater effectiveness (Rosenthal & Masarech, 2003.

  3. Collaboration and Crisis in Mega Projects: A Study in Cross Corporate Culture Conflict and its Resolution

    Directory of Open Access Journals (Sweden)

    Karen Smits

    2017-06-01

    Full Text Available Projects typically involve multiple partners coming together to form a temporary project organization that manages project execution. Partners begin their relationship with soaring aspirations to collaborate but as they move through the project’s various phases and they experience friction, especially those related to cultural clashes, their noble aspirations succumb to creeping, if not full blown, crisis. This, in turn, creates lost relationality and compromised execution. Thus, the question: How can project partners manage the integration of differing corporate cultures and work processes to produce the most effective and efficient outcomes?  Using the mega project of the Panama Canal Expansion Program, the authors explore how a multicultural project organization moved from dysfunctional relationality to synergistic, self-reinforcing, collaboration. A “Collabyrinth” (Smits, 2013 model explores how participants learned to collaborate in a holding environment saturated with layers of complex cultural difference.  The Collabyrinth is composed of six comingling elements: (1 Conflicting Conditions, (2 Submarining, (3 Seeking Consent, (4 Storytelling, (5 Crafting Reciprocal Relations, (6 Synergizing. Certain aspects of crisis management are employed to explain intra-collabyrinth dynamics. Those aspects are: (1 Coming of the Forerunners, (2 Acuteness in the Now, (3 Resolution Seeking, and (4 Constructing Relationality. Specific examples of the collabyrinth journey are provided and recommendations are made to harness the positive power of cross-corporate culture collaboration.

  4. MOSEP – More Self-Esteem With My E-Portfolio Development of a Train-the-Trainer Course for E-Portfolio Tutors

    OpenAIRE

    Buchberger , Gerlinde; Hilzensauer , Wolf; Hornung-Prähauser , Veronika

    2007-01-01

    This paper gives an insight into the MOSEP project, funded by the European Commission (Leonardo da Vinci Programme). The project focuses on the high dropout rates amongst young students (14-16) in the transition phase from middle to upper secondary school or into first vocational education. MOSEP addresses this problem by proposing to introduce the method of electronic learning and development portfolios (e-portfolios) specifically designed for effectively teaching and consulting this difficu...

  5. Mapping epistemic cultures and learning potential of participants in citizen science projects.

    Science.gov (United States)

    Vallabh, Priya; Lotz-Sisitka, Heila; O'Donoghue, Rob; Schudel, Ingrid

    2016-06-01

    The ever-widening scope and range of global change and interconnected systemic risks arising from people-environment relationships (social-ecological risks) appears to be increasing concern among, and involvement of, citizens in an increasingly diversified number of citizen science projects responding to these risks. We examined the relationship between epistemic cultures in citizen science projects and learning potential related to matters of concern. We then developed a typology of purposes and a citizen science epistemic-cultures heuristic and mapped 56 projects in southern Africa using this framework. The purpose typology represents the range of knowledge-production purposes, ranging from laboratory science to social learning, whereas the epistemic-cultures typology is a relational representation of scientist and citizen participation and their approach to knowledge production. Results showed an iterative relationship between matters of fact and matters of concern across the projects; the nexus of citizens' engagement in knowledge-production activities varied. The knowledge-production purposes informed and shaped the epistemic cultures of all the sampled citizen science projects, which in turn influenced the potential for learning within each project. Through a historical review of 3 phases in a long-term river health-monitoring project, we found that it is possible to evolve the learning curve of citizen science projects. This evolution involved the development of scientific water monitoring tools, the parallel development of pedagogic practices supporting monitoring activities, and situated engagement around matters of concern within social activism leading to learning-led change. We conclude that such evolutionary processes serve to increase potential for learning and are necessary if citizen science is to contribute to wider restructuring of the epistemic culture of science under conditions of expanding social-ecological risk. © 2016 Society for

  6. Portfolio optimization and performance evaluation

    DEFF Research Database (Denmark)

    Juhl, Hans Jørn; Christensen, Michael

    2013-01-01

    Based on an exclusive business-to-business database comprising nearly 1,000 customers, the applicability of portfolio analysis is documented, and it is examined how such an optimization analysis can be used to explore the growth potential of a company. As opposed to any previous analyses, optimal...... customer portfolios are determined, and it is shown how marketing decision-makers can use this information in their marketing strategies to optimize the revenue growth of the company. Finally, our analysis is the first analysis which applies portfolio based methods to measure customer performance......, and it is shown how these performance measures complement the optimization analysis....

  7. Parametric Portfolio Selection: Evaluating and Comparing to Markowitz Portfolios

    Directory of Open Access Journals (Sweden)

    Marcelo C. Medeiros

    2014-10-01

    Full Text Available In this paper we exploit the parametric portfolio optimization in the Brazilian market. Our data consists of monthly returns of 306 Brazilian stocks in the period between 2001 and 2013. We tested the model both in and out of sample and compared the results with the value and equal weighted portfolios and with a Markowitz based portfolio. We performed statistical inference in the parametric optimization using bootstrap techniques in order to build the parameters empirical distributions. Our results showed that the parametric optimization is a very efficient technique out of sample. It consistently showed superior results when compared with the VW, EW and Markowitz portfolios even when transaction costs were included. Finally, we consider the parametric approach to be very flexible to the inclusion of constraints in weights, transaction costs and listing and delisting of stocks.

  8. The Role of Social and Cultural Capital in the Project Marketing "Milieu"

    DEFF Research Database (Denmark)

    Skaates, Maria Anne

    1999-01-01

    The selling of projects is unique in relation to other areas of industrial marketing in three respects: (1) the demand for projects is discontinuous, (2) each individual project is unique e.g. technically and financially as well as (3) complex in terms of the number of actors involved and their m......The selling of projects is unique in relation to other areas of industrial marketing in three respects: (1) the demand for projects is discontinuous, (2) each individual project is unique e.g. technically and financially as well as (3) complex in terms of the number of actors involved...... and their modes of cooperation (Tikkanen, 1998:264). On the basis of these characteristics, the role of social and cultural capital (Bourdieu, 1989) in the marketing of projects is discussed....

  9. Portfolio i Praksis

    DEFF Research Database (Denmark)

    Saltofte, Margit; Krill, Cecilia

    . Præsentationsfolien fokuserer på at præsentere et færdigt produkt eller resultat, mens arbejdsportfolien har fokus på proces, refleksion og læring. Til denne forskel knytter sig desuden helt naturligt en sondring imellem det delte og det private. Hvor præsentationsportfolio per definition er åben og har en modtager i...... sigte, er arbejdsportfolien i udgangspunktet lukket og privat. Det vil sige at man selv udvælger, hvad der skal ses af fx vejleder eller medstuderende – og hvad, der skal forblive privat. Portfolio i Praksis tilbyder desuden en række håndgribelige øvelser, der kan bruges som hjælp til at understøtte det...

  10. An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

    OpenAIRE

    Itay Goldstein; Assaf Razin

    2005-01-01

    The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI).The model describes an information-based trade off between direct investments and portfolio investments. Direct investors are more informed about the fundamentals of their projects. This information enables them to manage their projects more efficiently. However, it also creates an asymmetric-information problem in case they need to sell their projects prematurely, and reduces the price they...

  11. Portfolio Analysis of Renewable Energy Opportunities: Preprint

    Energy Technology Data Exchange (ETDEWEB)

    Richards, Allison; Deprizio, Jodi; Anderson, Kate; DiOrio, Nick; Elgqvist, Emma; Simpkins, Travis

    2016-11-01

    Time Warner Cable (TWC), now Charter Communications (CC), partnered with the National Renewable Energy Laboratory (NREL) to assess the technical and economic potential for solar photovoltaic (PV), wind, and ground-source heat-pump systems at 696 TWC facilities. NREL identified 306 sites where adding a renewable energy system would provide cost savings over the project life-cycle. In general, the top sites have some combination of high electricity rates ($0.16-$0.29/kWh), significant state incentives, and favorable net-metering policies. If all projects were implemented via third-party power purchase agreements, TWC/CC would save $37 million over 25 years and meet 10.5% of their energy consumption with renewable energy. This paper describes the portfolio screening methodology used to identify and prioritize renewable energy opportunities across the TWC sites, as well as a summary of the potential cost savings that may be realized by implementing these projects. This may provide a template for other companies interested in identifying and prioritizing renewable energy opportunities across a large number of geographically dispersed sites. Following this initial portfolio analysis, NREL will be conducting in-depth analysis of project development opportunities at ten sites and evaluating off-grid solutions that may enable carbon emission reduction and grid independence at select facilities.

  12. AREVA's nuclear reactors portfolio

    International Nuclear Information System (INIS)

    Marincic, A.

    2009-01-01

    A reasonable assumption for the estimated new build market for the next 25 years is over 340 GWe net. The number of prospect countries is growing almost each day. To address this new build market, AREVA is developing a comprehensive portfolio of reactors intended to meet a wide range of power requirements and of technology choices. The EPR reactor is the flagship of the fleet. Intended for large power requirements, the four first EPRs are being built in Finland, France and China. Other countries and customers are in view, citing just two examples: the Usa where the U.S. EPR has been selected as the technology of choice by several U.S utilities; and the United Kingdom where the Generic Design Acceptance process of the EPR design submitted by AREVA and EDF is well under way, and where there is a strong will to have a plant on line in 2017. For medium power ranges, the AREVA portfolio includes a boiling water reactor and a pressurized water reactor which both offer all of the advantages of an advanced plant design, with excellent safety performance and competitive power generation cost: -) KERENA (1250+ MWe), developed in collaboration with several European utilities, and in particular with Eon; -) ATMEA 1 (1100+ MWe), a 3-loop evolutionary PWR which is being developed by AREVA and Mitsubishi. AREVA is also preparing the future and is deeply involved into Gen IV concepts. It has developed the ANTARES modular HTR reactor (pre-conceptual design completed) and is building upon its vast Sodium Fast Reactor experience to take part into the development of the next prototype. (author)

  13. A Mean variance analysis of arbitrage portfolios

    Science.gov (United States)

    Fang, Shuhong

    2007-03-01

    Based on the careful analysis of the definition of arbitrage portfolio and its return, the author presents a mean-variance analysis of the return of arbitrage portfolios, which implies that Korkie and Turtle's results ( B. Korkie, H.J. Turtle, A mean-variance analysis of self-financing portfolios, Manage. Sci. 48 (2002) 427-443) are misleading. A practical example is given to show the difference between the arbitrage portfolio frontier and the usual portfolio frontier.

  14. The FORO Project on Safety Culture in Organizations, Facilities and Activities With Sources of Ionizing Radiation

    International Nuclear Information System (INIS)

    Bomben, A. M.; Ferro Fernández, R.; Arciniega Torres, J.; Ordoñez Gutiérrez, E.; Blanes Tabernero, A.; Cruz Suárez, R.; Da Silva Silveira, C.; Perera Meas, J.; Ramírez Quijada, R.; Videla Valdebenito, R.

    2016-01-01

    The aim of this paper is to present the Ibero-American Forum of Nuclear and Radiological Regulatory Authorities’ (FORO) Project on Safety Culture in organizations, facilities and activities with sources of ionizing radiation developed by experts from the Regulatory Authorities of Argentina, Brazil, Chile, Cuba, Spain, Mexico, Peru and Uruguay, under the scientific coordination of the International Atomic Energy Agency (IAEA). Taking into account that Safety Culture problems have been widely recognised as one of the major contributors to many radiological events, several international and regional initiatives are being carried out to foster and develop a strong Safety Culture. One of these initiatives is the two-year project sponsored by the FORO with the purpose to prepare a document to allow its member states understanding, promoting and achieving a higher level of Safety Culture.

  15. The epistemic culture in an online citizen science project: Programs, antiprograms and epistemic subjects.

    Science.gov (United States)

    Kasperowski, Dick; Hillman, Thomas

    2018-05-01

    In the past decade, some areas of science have begun turning to masses of online volunteers through open calls for generating and classifying very large sets of data. The purpose of this study is to investigate the epistemic culture of a large-scale online citizen science project, the Galaxy Zoo, that turns to volunteers for the classification of images of galaxies. For this task, we chose to apply the concepts of programs and antiprograms to examine the 'essential tensions' that arise in relation to the mobilizing values of a citizen science project and the epistemic subjects and cultures that are enacted by its volunteers. Our premise is that these tensions reveal central features of the epistemic subjects and distributed cognition of epistemic cultures in these large-scale citizen science projects.

  16. Representing with Light. Video Projection Mapping for Cultural Heritage

    Science.gov (United States)

    Barbiani, C.; Guerra, F.; Pasini, T.; Visonà, M.

    2018-05-01

    In this paper, we describe a cross-disciplinary process that uses photogrammetric surveys as a precise basis for video projection mapping techniques. Beginning with a solid basis that uses geoinformatics technologies, such as laser scanning and photogrammetric survey, the method sets, as a first step, the physical and geometrical acquisition of the object. Precision and accuracy are the basics that allow the analysis of the artwork, both at a small or large scale, to evaluate details and correspondences. Testing contents at different scales of the object, using 3D printed replicas or real architectures is the second step of the investigation.The core of the process is the use of equations of collinearity into an interactive system such as Max 7, a visual programming language for music and multimedia, in order to facilitate operators to have a fast image correction, directly inside the interactive software. Interactivity gives also the opportunity to easily configure a set of actions to let the spectators to directly change and control the animation content. The paper goes through the different phases of the research, analysing the results and the progress through a series of events on real architecture and experiments on 3d printed models to test the level of involvement of the audience and the flexibility of the system in terms of content.The idea of using the collinearity equation inside da software Max 7 was developed for the M.Arch final Thesis by Massimo Visonà and Tommaso Pasini of the University of Venice (IUAV) in collaboration with the Digital Exhibit Postgraduate Master Course (MDE Iuav).

  17. 78 FR 21045 - Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship...

    Science.gov (United States)

    2013-04-09

    ... COMMODITY FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship Documentation Requirements for Swap Dealers... CFTC published final rules setting forth requirements for swap confirmation, portfolio reconciliation...

  18. Optimal Portfolios in Wishart Models and Effects of Discrete Rebalancing on Portfolio Distribution and Strategy Selection

    OpenAIRE

    Li, Zejing

    2012-01-01

    This dissertation is mainly devoted to the research of two problems - the continuous-time portfolio optimization in different Wishart models and the effects of discrete rebalancing on portfolio wealth distribution and optimal portfolio strategy.

  19. Essays on Rational Portfolio Theory

    DEFF Research Database (Denmark)

    Nielsen, Simon Ellersgaard

    market prices, we findonly a very modest improvement in portfolio wealth over the corresponding strategy whichonly trades in bonds and stocks. Optimal Hedge Tracking Portfolios in a Limit Order Book. In this paper we developa control theoretic solution to the manner in which a portfolio manager optimally...... shouldtrack a targeted D, given that he wishes to hedge a short position in European call optionsthe underlying of which is traded in a limit order book. Specifically, we are interested in theinterplay between posting limit and market orders respectively: when should the portfoliomanager do what (and at what......’s theory of optimal portfolio selection for wealth maximisingagents. In this paper we present a systematic analysis of the optimal asset allocation in aderivative-free market for the Heston model, the 3/2 model, and a Fong Vasicek type model.Under the assumption that the market price of risk...

  20. Robust Portfolio Optimization Using Pseudodistances.

    Science.gov (United States)

    Toma, Aida; Leoni-Aubin, Samuela

    2015-01-01

    The presence of outliers in financial asset returns is a frequently occurring phenomenon which may lead to unreliable mean-variance optimized portfolios. This fact is due to the unbounded influence that outliers can have on the mean returns and covariance estimators that are inputs in the optimization procedure. In this paper we present robust estimators of mean and covariance matrix obtained by minimizing an empirical version of a pseudodistance between the assumed model and the true model underlying the data. We prove and discuss theoretical properties of these estimators, such as affine equivariance, B-robustness, asymptotic normality and asymptotic relative efficiency. These estimators can be easily used in place of the classical estimators, thereby providing robust optimized portfolios. A Monte Carlo simulation study and applications to real data show the advantages of the proposed approach. We study both in-sample and out-of-sample performance of the proposed robust portfolios comparing them with some other portfolios known in literature.

  1. Cultural differences and process adaptation in international R&D project management

    DEFF Research Database (Denmark)

    Li, Xing; Li, J. Z.

    2009-01-01

    In the era of globalization, Western companies have started to explore China as a source of technology. Yet, Western R&D project management processes in China are frequently facing many problems. Some of the problems can be conceptualized by analyzing a number of known cultural contrasts between ...... project success. At the same time, lessons and recommendations on the adaptability to Chinese style business and management interactions will be drawn from the case study for international companies that locate R&D projects in China.......In the era of globalization, Western companies have started to explore China as a source of technology. Yet, Western R&D project management processes in China are frequently facing many problems. Some of the problems can be conceptualized by analyzing a number of known cultural contrasts between...

  2. Electricity Market Optimization of Heat Pump Portfolio

    DEFF Research Database (Denmark)

    Biegel, Benjamin; Andersen, Palle; Pedersen, Tom S.

    2013-01-01

    We consider a portfolio of domestic heat pumps controlled by an aggregator. The aggregator is able to adjust the consumption of the heat pumps without affecting the comfort in the houses and uses this ability to shift the main consumption to hours with low electricity prices. Further......, the aggregator is able to place upward and downward regulating bids in the regulating power market based on the consumption flexibility. A simulation is carried out based on data from a Danish domestic heat pump project, historical spot prices, regulating power prices, and spot price predictions. The simulations...

  3. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market

    OpenAIRE

    Širůček, Martin; Křen, Lukáš

    2015-01-01

    ŠIRŮČEK MARTIN, KŘEN LUKÁŠ. 2015. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 63(4): 1375–1386. This paper is focused on building investment portfolios by using the Markowitz Portfolio Theory (MPT). Derivation based on the Capital Asset Pricing Model (CAPM) is used to calculate the weights of individual securities in portfolios. The calculated portfolios include a po...

  4. Developing Communicative and Cultural Competences in Portuguese through an Online Collaborative Project

    Directory of Open Access Journals (Sweden)

    Vanessa Cristina Revheim Cunha

    2017-06-01

    Full Text Available Lessons should provide opportunities to use language in relevant ways. Cultural awareness is essential, as studying a language implies learning its cultural values. ACTFL advocates that cultural understanding is vital to prepare students for the demands of today’s globalized world. The U.S. Dept. of Education National Education Technology Plan (2010 claims that learning by technology “prepares them [students] to be more productive members of a globally competitive workforce”(p. xi. In order to promote a communicative experience with a cultural focus, the concepts of collaboration and autonomy were applied in a project where students used a Brazilian website and learned about the importance of a community tradition called Amigo Secreto. Students write personal descriptions and interact online. On the last day of class, students describe their secret friends and the class must guess who they are. The objectives are for students to work collaboratively, use authentic language and improve cultural knowledge.

  5. Cultural diversity in Brazilian children’s literature: The project Literatura em Minha Casa in question

    Directory of Open Access Journals (Sweden)

    Flávia Ferreira de Paula

    2016-08-01

    Full Text Available This paper intends to search for representations of Brazilian cultural diversity in children’s literature of the Programa Nacional Biblioteca da Escola [National Program of School Library] (PNBE, in the editions of 2001, 2002, and 2003, years of the project Literatura em Minha Casa [Literature in My House], especially those addressed to fourth and fifth grades of Elementary School. The selection criteria of works claimed that the collections should “[…] present a small picture of the Brazilian culture […]” (Brasil, 2001; 2002; 2003, p. 12, understanding that culture as characterized by diversity. Therefore, the analysis was divided into two phases: the first dealt with ethnic plurality and the second with culture and regionalism. In general, the results showed that among 120 works analyzed, 15 had ethnic-racial diversity and 12 works presented aspects of regionalism and culture from different parts of Brazil.

  6. Information Acquisition and Portfolio Performance

    OpenAIRE

    Guiso, Luigi; Jappelli, Tullio

    2006-01-01

    Rational investors perceive correctly the value of financial information. Investment in information is therefore rewarded with a higher Sharpe ratio. Overconfident investors overstate the quality of their own information, and thus attain a lower Sharpe ratio. We contrast the implications of the two models using a unique survey of customers of an Italian leading bank with portfolio data and measures of financial information. We find that the portfolio Sharpe ratio is negatively associated with...

  7. Drought Prediction for Socio-Cultural Stability Project

    Science.gov (United States)

    Peters-Lidard, Christa; Eylander, John B.; Koster, Randall; Narapusetty, Balachandrudu; Kumar, Sujay; Rodell, Matt; Bolten, John; Mocko, David; Walker, Gregory; Arsenault, Kristi; hide

    2014-01-01

    The primary objective of this project is to answer the question: "Can existing, linked infrastructures be used to predict the onset of drought months in advance?" Based on our work, the answer to this question is "yes" with the qualifiers that skill depends on both lead-time and location, and especially with the associated teleconnections (e.g., ENSO, Indian Ocean Dipole) active in a given region season. As part of this work, we successfully developed a prototype drought early warning system based on existing/mature NASA Earth science components including the Goddard Earth Observing System Data Assimilation System Version 5 (GEOS-5) forecasting model, the Land Information System (LIS) land data assimilation software framework, the Catchment Land Surface Model (CLSM), remotely sensed terrestrial water storage from the Gravity Recovery and Climate Experiment (GRACE) and remotely sensed soil moisture products from the Aqua/Advanced Microwave Scanning Radiometer - EOS (AMSR-E). We focused on a single drought year - 2011 - during which major agricultural droughts occurred with devastating impacts in the Texas-Mexico region of North America (TEXMEX) and the Horn of Africa (HOA). Our results demonstrate that GEOS-5 precipitation forecasts show skill globally at 1-month lead, and can show up to 3 months skill regionally in the TEXMEX and HOA areas. Our results also demonstrate that the CLSM soil moisture percentiles are a goof indicator of drought, as compared to the North American Drought Monitor of TEXMEX and a combination of Famine Early Warning Systems Network (FEWS NET) data and Moderate Resolution Imaging Spectrometer (MODIS)'s Normalizing Difference Vegetation Index (NDVI) anomalies over HOA. The data assimilation experiments produced mixed results. GRACE terrestrial water storage (TWS) assimilation was found to significantly improve soil moisture and evapotransportation, as well as drought monitoring via soil moisture percentiles, while AMSR-E soil moisture

  8. Different Variants of Fundamental Portfolio

    Directory of Open Access Journals (Sweden)

    Tarczyński Waldemar

    2014-06-01

    Full Text Available The paper proposes the fundamental portfolio of securities. This portfolio is an alternative for the classic Markowitz model, which combines fundamental analysis with portfolio analysis. The method’s main idea is based on the use of the TMAI1 synthetic measure and, in limiting conditions, the use of risk and the portfolio’s rate of return in the objective function. Different variants of fundamental portfolio have been considered under an empirical study. The effectiveness of the proposed solutions has been related to the classic portfolio constructed with the help of the Markowitz model and the WIG20 market index’s rate of return. All portfolios were constructed with data on rates of return for 2005. Their effectiveness in 2006- 2013 was then evaluated. The studied period comprises the end of the bull market, the 2007-2009 crisis, the 2010 bull market and the 2011 crisis. This allows for the evaluation of the solutions’ flexibility in various extreme situations. For the construction of the fundamental portfolio’s objective function and the TMAI, the study made use of financial and economic data on selected indicators retrieved from Notoria Serwis for 2005.

  9. Report on Portfolio Companies with Operations in South Africa.

    Science.gov (United States)

    Harvard Univ., Cambridge, MA.

    The activities of portfolio companies in South Africa are reviewed in this report from the Advisory Committee on Shareholder Responsibility of Harvard University. A brief review of recent South African political and economic events includes a discussion of the nation's leadership, long-term social and political projections, labor policies, and the…

  10. Maximizing the Impact of Portfolio Assessment through Effective Instructional Leadership.

    Science.gov (United States)

    Krusekopf, Frances; Karr-Kidwell, P. J.

    This study was designed as a field research project aimed at improving the method of assessing student learning at ACT Academy in the McKinney Independent School District, McKinney, Texas. Data and information were gathered and analyzed to see how the administration could improve the current student portfolio process. Reflections were completed by…

  11. Portfolio Analysis and Management for Naval Research and Development

    National Research Council Canada - National Science Library

    Silberglitt, Richard

    2004-01-01

    .... This report describes the adaptation of an R&D portfolio management decision framework recently developed by RAND (Silberglitt and Sherry; 2002), PortMan, to support ONR's R&D decision-making, and the demonstration of its use via a case study evaluation of 20 sample ONR applied research projects.

  12. Project value creation: The case of a European Capital of Culture

    DEFF Research Database (Denmark)

    Laursen, Markus

    – the European Capital of Culture (ECoC) in Aarhus, Denmark taking place in 2017. Based on engaged scholarship research we explore how value is conceptualized as a subjective construct and how it is created by a wide range of actors and captured by other actors, and we present a model of actor interactions over......In recent years value creation has been reinforced as an important concept in project management research, and in this paper the service-dominant logic is applied to reinforce the shift from a focus on products to value in projects. The setting for the research is a public sector project...

  13. The Effects of the Japan Bridge Project on Third Graders' Cultural Sensitivity

    Science.gov (United States)

    Meyer, Lindsay; Sherman, Lilian; MaKinster, James

    2006-01-01

    This study examines the effects of the Japan BRIDGE Project, a global education program, on its third grade participants. Characterization of lessons and analysis of student interviews were used to investigate the nature of the curriculum and whether or not student participants were more culturally sensitive due to participation. Results indicate…

  14. Meaningful Learning in the Teaching of Culture: The Project Based Learning Approach

    Science.gov (United States)

    Kean, Ang Chooi; Kwe, Ngu Moi

    2014-01-01

    This paper reports on a collaborative effort taken by a team of three teacher educators in using the Project Based Learning (PBL) approach in the teaching of Japanese culture with the aim to investigate the presence of actual "meaningful learning" among 15 students of a 12-Week Preparatory Japanese Language course under a teacher…

  15. Preparing TESOL Students for the ESOL Classroom: A Cross-Cultural Project in Intercultural Communication

    Science.gov (United States)

    Medina-López-Portillo, Adriana

    2014-01-01

    Intercultural communication classes for TESOL students give them a solid foundation for their work with their own ESOL students. This article presents the cross-cultural project that TESOL students have to complete in a required intercultural communication class at the University of Maryland, Baltimore County and the case study that was used to…

  16. Family Treasures: A Dual-Language Book Project for Negotiating Language, Literacy, Culture, and Identity

    Science.gov (United States)

    Roessingh, Hetty

    2011-01-01

    This article advances a framework for early language and literacy development among young English language learners (ELLs). A dual-language book project undertaken in partnership with a local elementary school provides a context within which to address children's need to negotiate language, culture, and identity as they transition and make meaning…

  17. Portfolio Effects of Renewable Energies - Basics, Models, Exemplary Results

    Energy Technology Data Exchange (ETDEWEB)

    Wiese, Andreas; Herrmann, Matthias

    2007-07-01

    The combination of sites and technologies to so-called renewable energy portfolios, which are being developed and implemented under the same financing umbrella, is currently the subject of intense discussion in the finance world. The resulting portfolio effect may allow the prediction of a higher return with the same risk or the same return with a lower risk - always in comparison with the investment in a single project. Models are currently being developed to analyse this subject and derive the portfolio effect. In particular, the effect of the spatial distribution, as well as the effects of using different technologies, suppliers and cost assumptions with different level of uncertainties, are of importance. Wind parks, photovoltaic, biomass, biogas and hydropower are being considered. The status of the model development and first results are being presented in the current paper. In a first example, the portfolio effect has been calculated and analysed using selected parameters for a wind energy portfolio of 39 sites distributed over Europe. Consequently it has been shown that the predicted yield, with the predetermined probabilities between 75 to 90%, is 3 - 8% higher than the sum of the yields for the individual wind parks using the same probabilities. (auth)

  18. ePortfolio and learning styles in Nursing Education

    DEFF Research Database (Denmark)

    Nielsen, Kirsten; Helms, Niels Henrik; Pedersen, Birthe D.

    ePortfolio & learning styles in Nursing Education Background Examination of the literature shows both advantages and disadvantages in implementing ePortfolio and learning styles in Nursing Education. The students reflect on nursing practice as well as on their strengths and weaknesses...... priority than learning the practical craft of nursing in clinical settings. Insight into preferred learning style can be an advantage to both students and preceptors in attempt to promote students´ learning potential, but there are quite many different theoretical approaches and definitions of the concept...... of Nursing, VIA University College, DK wanted to intensify the differentiated guidance of students, and developed an ePortfolio which aim to facilitate four learning styles as described by Honey and Mumford. It was tested in a pilot project and now, a qualitative study of how learning is mediated in clinical...

  19. Analysis of the NSF IUSE Physics & Astronomy Education Portfolio

    Science.gov (United States)

    Lee, Kevin M.

    2017-01-01

    The National Science Foundation’s IUSE:EHR (Improving Undergraduate STEM Education) Program is now over 3 years old. This presentation will describe the characteristics of the awards presently in the physics & astronomy portfolio. Awards will be described based upon a) general characteristics (duration, total funding, PI rank, type of institution, etc.), b) applicability (intended audience, level, and arena of implementation), c) nature of project (educational research, practical implementation, or both), and d) pedagogical focus (curriculum, STEM recruitment, STEM retention, information collection, and tools and/or skills development). General trends and exemplars will be identified as well as voids in the portfolio. Understanding what has been funded will help attendees design future proposals that will make innovative contributions to the portfolio.

  20. Universal portfolios generated by the Bregman divergence

    Science.gov (United States)

    Tan, Choon Peng; Kuang, Kee Seng

    2017-04-01

    The Bregman divergence of two probability vectors is a stronger form of the f-divergence introduced by Csiszar. Two versions of the Bregman universal portfolio are presented by exploiting the mean-value theorem. The explicit form of the Bregman universal portfolio generated by a function of a convex polynomial is derived and studied empirically. This portfolio can be regarded as another generalized of the well-known Helmbold portfolio. By running the portfolios on selected stock-price data sets from the local stock exchange, it is shown that it is possible to increase the wealth of the investor by using the portfolios in investment.

  1. Dearfield Dream Project: Developing an Interdisciplinary Historical/Cultural Research Network

    Directory of Open Access Journals (Sweden)

    Robert Brunswig

    2013-08-01

    Full Text Available The Dearfield Dream Project is a collaborative research initiative to conduct historical, cultural, archaeological, and environmental studies on the early 20th Century African-American colony site of Dearfield, Colorado, USA. Because the breadth and significance of the Dearfield Project requires an interdisciplinary research team, a network of research collaborators has been assembled. This research network seeks to discover, preserve, and disseminate knowledge of the site and its surrounding farmsteads’ economic, social, political, and environmental history for better understanding and interpretation of its contributions to Colorado and U.S. history. Herein, we detail progress that has been made on this important historical/cultural research project. Further, we outline the future of the Dearfield research network along with our current and anticipated subjects of inquiry.

  2. Interdisciplinary Service-Learning: Building Student Competencies through the Cross-Cultural Parent Groups Project

    Directory of Open Access Journals (Sweden)

    Michele Belliveau

    2011-03-01

    Full Text Available Changing demographics and an emphasis on competency-based social work education call for innovative approaches to the delivery of curricular content. In an effort to introduce BSW students to the socio-political issues facing the local Latino immigrant community, a service-learning project was developed in collaboration with the Spanish Language Department and a local middle school. An analysis of outcomes from social work student evaluations showed that students engaged with the community and issues in new and unexpected ways. Through their engagement in a cross-cultural group project, students developed greater cultural competency, honed their group practice skills in an unfamiliar context, provided a needed service to the community, and raised their awareness about the working conditions of new immigrants as part of a developing framework for social action. Details and implications of the project as a means to build student competencies are described.

  3. The Cultural Challenges of Managing Global Project Teams: A Study of Brazilian Multinationals

    Directory of Open Access Journals (Sweden)

    Ivete Rodrigues

    2013-04-01

    Full Text Available The internationalization of Brazilian companies brings a new reality: the need for implementation of global projects that bring, in turn, the challenge of managing multicultural teams. Since this is a recent phenomenon with little theoretical development, this study sought to understand the relationships between cultural characteristics and management teams of global projects in Brazilian multinationals. To carry this discussion forward, we studied six cases of Brazilian multinational companies, with the aim of deepening the understanding of the management of global teams, involving the planning, deployment, development and management of human resources. Among the projects studied, it was found that there is very little concern with the specific issue of multiculturalism and little inter-cultural incentive to the development of team members, which ends up hindering the construction of a global mindset, important for the Brazilian multinational companies to perform successfully abroad. Faced with this situation, each of the managerial processes mentioned were presented with a number of actions to be undertaken by the project manager in three different dimensions: the project itself, the organization and the global environment. The work contributes, thus, to enable Brazilian multinational companies to manage their global teams in order to maximize the advantages of global teams, such as increased creativity and innovative capacity, but avoid the problems that multiculturalism can bring, ranging from conflicts between people to project failure.

  4. Safety culture and subcontractor network governance in a complex safety critical project

    International Nuclear Information System (INIS)

    Oedewald, Pia; Gotcheva, Nadezhda

    2015-01-01

    In safety critical industries many activities are currently carried out by subcontractor networks. Nevertheless, there are few studies where the core dimensions of resilience would have been studied in safety critical network activities. This paper claims that engineering resilience into a system is largely about steering the development of culture of the system towards better ability to anticipate, monitor, respond and learn. Thus, safety culture literature has relevance in resilience engineering field. This paper analyzes practical and theoretical challenges in applying the concept of safety culture in a complex, dynamic network of subcontractors involved in the construction of a new nuclear power plant in Finland, Olkiluoto 3. The concept of safety culture is in focus since it is widely used in nuclear industry and bridges the scientific and practical interests. This paper approaches subcontractor networks as complex systems. However, the management model of the Olkiluoto 3 project is to a large degree a traditional top-down hierarchy, which creates a mismatch between the management approach and the characteristics of the system to be managed. New insights were drawn from network governance studies. - Highlights: • We studied a relevant topical subject safety culture in nuclear new build project. • We integrated safety science challenges and network governance studies. • We produced practicable insights in managing safety of subcontractor networks

  5. 77 FR 55903 - Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship...

    Science.gov (United States)

    2012-09-11

    ... Vol. 77 Tuesday, No. 176 September 11, 2012 Part II Commodity Futures Trading Commission 17 CFR Part 23 Confirmation, Portfolio Reconciliation, Portfolio Compression, and Swap Trading Relationship... FUTURES TRADING COMMISSION 17 CFR Part 23 RIN 3038-AC96 Confirmation, Portfolio Reconciliation, Portfolio...

  6. Portfolio optimization with mean-variance model

    Science.gov (United States)

    Hoe, Lam Weng; Siew, Lam Weng

    2016-06-01

    Investors wish to achieve the target rate of return at the minimum level of risk in their investment. Portfolio optimization is an investment strategy that can be used to minimize the portfolio risk and can achieve the target rate of return. The mean-variance model has been proposed in portfolio optimization. The mean-variance model is an optimization model that aims to minimize the portfolio risk which is the portfolio variance. The objective of this study is to construct the optimal portfolio using the mean-variance model. The data of this study consists of weekly returns of 20 component stocks of FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBMKLCI). The results of this study show that the portfolio composition of the stocks is different. Moreover, investors can get the return at minimum level of risk with the constructed optimal mean-variance portfolio.

  7. The Poetics and Politics of the European Capital of Culture Project

    DEFF Research Database (Denmark)

    Ooi, Can-Seng; Håkanson, Lars; LaCava, Laura

    The European Capital of Culture (ECoC) project was designed to promote European identity and integration. Hosting cities have since carried a variety of visions and objectives, ranging from the improvement of material infrastructure and urban revitalization, over the enhancement of cultural life...... to the alleviation of poverty through increasing employment, and the attraction of more tourists. This variety of hopes is repeatedly articulated, as cities compete to become the next ECoC. Being an ECoC is seen to offer invaluable marketing opportunities to improve the city and its image. This paper situates...

  8. A HOUSE FOR THE REVOLUTION: A PROJECT OF CULTURAL LEGITIMATION IN CUBA (1959-1965

    Directory of Open Access Journals (Sweden)

    GREYSER COTO SARDINA

    2015-06-01

    Full Text Available With the revolutionary triumph I Cuba, a deep transformation of all the socio-economic, political and cultural structures is started. As part of this dynamics a process of institutionalization which finds in the scope of culture one of its higher referents in the creation of Casa de las Americas in July 1959 starts. The needs of legitimation of the new system found in the institution a mechanism to encourage and stimulate the revolutionary ideas and its projections towards Latin-America. In the period from 1959 to 1965, through its main actions, understood as its magazine and contest, the intellectual compromise as principal foundation of its discourse was authenticated.

  9. Deformed exponentials and portfolio selection

    Science.gov (United States)

    Rodrigues, Ana Flávia P.; Guerreiro, Igor M.; Cavalcante, Charles Casimiro

    In this paper, we present a method for portfolio selection based on the consideration on deformed exponentials in order to generalize the methods based on the gaussianity of the returns in portfolio, such as the Markowitz model. The proposed method generalizes the idea of optimizing mean-variance and mean-divergence models and allows a more accurate behavior for situations where heavy-tails distributions are necessary to describe the returns in a given time instant, such as those observed in economic crises. Numerical results show the proposed method outperforms the Markowitz portfolio for the cumulated returns with a good convergence rate of the weights for the assets which are searched by means of a natural gradient algorithm.

  10. Sygeplejestuderendes brug af portfolio i klinisk undervisning

    DEFF Research Database (Denmark)

    Hjorth, Anne Charlotte Overgaard; Bruhn, Helle

    2014-01-01

    Brugen af portfolio var mangelfuld, men et udviklingsprojekt i samarbejde med den kommunale sygepleje motiverede både sygeplejestuderende og kliniske vejledere til at anvende læringsdelen af portfolio aktivt.......Brugen af portfolio var mangelfuld, men et udviklingsprojekt i samarbejde med den kommunale sygepleje motiverede både sygeplejestuderende og kliniske vejledere til at anvende læringsdelen af portfolio aktivt....

  11. Dynamic Portfolio Strategy Using Clustering Approach.

    Science.gov (United States)

    Ren, Fei; Lu, Ya-Nan; Li, Sai-Ping; Jiang, Xiong-Fei; Zhong, Li-Xin; Qiu, Tian

    2017-01-01

    The problem of portfolio optimization is one of the most important issues in asset management. We here propose a new dynamic portfolio strategy based on the time-varying structures of MST networks in Chinese stock markets, where the market condition is further considered when using the optimal portfolios for investment. A portfolio strategy comprises two stages: First, select the portfolios by choosing central and peripheral stocks in the selection horizon using five topological parameters, namely degree, betweenness centrality, distance on degree criterion, distance on correlation criterion and distance on distance criterion. Second, use the portfolios for investment in the investment horizon. The optimal portfolio is chosen by comparing central and peripheral portfolios under different combinations of market conditions in the selection and investment horizons. Market conditions in our paper are identified by the ratios of the number of trading days with rising index to the total number of trading days, or the sum of the amplitudes of the trading days with rising index to the sum of the amplitudes of the total trading days. We find that central portfolios outperform peripheral portfolios when the market is under a drawup condition, or when the market is stable or drawup in the selection horizon and is under a stable condition in the investment horizon. We also find that peripheral portfolios gain more than central portfolios when the market is stable in the selection horizon and is drawdown in the investment horizon. Empirical tests are carried out based on the optimal portfolio strategy. Among all possible optimal portfolio strategies based on different parameters to select portfolios and different criteria to identify market conditions, 65% of our optimal portfolio strategies outperform the random strategy for the Shanghai A-Share market while the proportion is 70% for the Shenzhen A-Share market.

  12. Dynamic Portfolio Strategy Using Clustering Approach.

    Directory of Open Access Journals (Sweden)

    Fei Ren

    Full Text Available The problem of portfolio optimization is one of the most important issues in asset management. We here propose a new dynamic portfolio strategy based on the time-varying structures of MST networks in Chinese stock markets, where the market condition is further considered when using the optimal portfolios for investment. A portfolio strategy comprises two stages: First, select the portfolios by choosing central and peripheral stocks in the selection horizon using five topological parameters, namely degree, betweenness centrality, distance on degree criterion, distance on correlation criterion and distance on distance criterion. Second, use the portfolios for investment in the investment horizon. The optimal portfolio is chosen by comparing central and peripheral portfolios under different combinations of market conditions in the selection and investment horizons. Market conditions in our paper are identified by the ratios of the number of trading days with rising index to the total number of trading days, or the sum of the amplitudes of the trading days with rising index to the sum of the amplitudes of the total trading days. We find that central portfolios outperform peripheral portfolios when the market is under a drawup condition, or when the market is stable or drawup in the selection horizon and is under a stable condition in the investment horizon. We also find that peripheral portfolios gain more than central portfolios when the market is stable in the selection horizon and is drawdown in the investment horizon. Empirical tests are carried out based on the optimal portfolio strategy. Among all possible optimal portfolio strategies based on different parameters to select portfolios and different criteria to identify market conditions, 65% of our optimal portfolio strategies outperform the random strategy for the Shanghai A-Share market while the proportion is 70% for the Shenzhen A-Share market.

  13. Application of Markowitz Portfolio Theory by Building Optimal Portfolio on the US Stock Market

    Directory of Open Access Journals (Sweden)

    Martin Širůček

    2015-01-01

    Full Text Available This paper is focused on building investment portfolios by using the Markowitz Portfolio Theory (MPT. Derivation based on the Capital Asset Pricing Model (CAPM is used to calculate the weights of individual securities in portfolios. The calculated portfolios include a portfolio copying the benchmark made using the CAPM model, portfolio with low and high beta coefficients, and a random portfolio. Only stocks were selected for the examined sample from all the asset classes. Stocks in each portfolio are put together according to predefined criteria. All stocks were selected from Dow Jones Industrial Average (DJIA index which serves as a benchmark, too. Portfolios were compared based on their risk and return profiles. The results of this work will provide general recommendations on the optimal approach to choose securities for an investor’s portfolio.

  14. Feature selection for portfolio optimization

    DEFF Research Database (Denmark)

    Bjerring, Thomas Trier; Ross, Omri; Weissensteiner, Alex

    2016-01-01

    Most portfolio selection rules based on the sample mean and covariance matrix perform poorly out-of-sample. Moreover, there is a growing body of evidence that such optimization rules are not able to beat simple rules of thumb, such as 1/N. Parameter uncertainty has been identified as one major....... While most of the diversification benefits are preserved, the parameter estimation problem is alleviated. We conduct out-of-sample back-tests to show that in most cases different well-established portfolio selection rules applied on the reduced asset universe are able to improve alpha relative...

  15. Managing the New Product Portfolio

    DEFF Research Database (Denmark)

    Larsson, Flemming

    2008-01-01

    Product development companies are increasingly confronted with an unforgiving global marketplace, which urges the top management to pursue every product development opportunity that appears on the road. This situation incurs an important question: Which product development opportunities should a ....... The contributions encourage an improved understanding of the portfolio management concept and support industry professionals in their efforts to compose and continuously maintain a commercially strong product development portfolio.......Product development companies are increasingly confronted with an unforgiving global marketplace, which urges the top management to pursue every product development opportunity that appears on the road. This situation incurs an important question: Which product development opportunities should...

  16. Purchasing portfolio usage and purchasing sophistication

    NARCIS (Netherlands)

    Gelderman, C.J.; Weele, van A.J.

    2005-01-01

    Purchasing portfolio models have caused considerable controversy in literature. Many advantages and disadvantages have been put forward, revealing a strong disagreement on the merits of portfolio models. This study addresses the question whether or not the use of purchasing portfolio models should

  17. Hierarchical Portfolio Management: Theory and Applications

    NARCIS (Netherlands)

    H. Ning (Haikun)

    2007-01-01

    textabstractUnder his own preference, how should an investor coordinate the asset managers such that his aggregated portfolio is optimized? The efficiency of each managed sub portfolio and the aggregation of all the sub portfolios are the 2 main underlying problems considered in this dissertation.

  18. Modern Portfolio Theory: Some Main Results

    OpenAIRE

    Müller, Heinz H.

    2017-01-01

    This article summarizes some main results in modern portfolio theory. First, the Markowitz approach is presented. Then the capital asset pricing model is derived and its empirical testability is discussed. Afterwards Neumann-Morgenstern utility theory is applied to the portfolio problem. Finally, it is shown how optimal risk allocation in an economy may lead to portfolio insurance

  19. Using Electronic Portfolios for Second Language Assessment

    Science.gov (United States)

    Cummins, Patricia W.; Davesne, Celine

    2009-01-01

    Portfolio assessment as developed in Europe presents a learner-empowering alternative to computer-based testing. The authors present the European Language Portfolio (ELP) and its American adaptations, LinguaFolio and the Global Language Portfolio, as tools to be used with the Common European Framework of Reference for languages and the American…

  20. Household portfolios and implicit risk aversion

    NARCIS (Netherlands)

    Bucciol, A.; Miniaci, R.

    2008-01-01

    We derive from a sample of US households the distribution of the risk aversion implicit in their portfolio choice. Our estimate minimizes the distance between the certainty equivalent return generated with observed portfolios and portfolios that are optimal in a mean-variance framework. Taking into

  1. Quantitative investment strategies and portfolio management

    NARCIS (Netherlands)

    Guo, J.

    2012-01-01

    This book contains three essays on alternative investments and portfolio management. Taking from a portfolio investor’s perspective, the first essay analyzes the portfolio implication of investing in hedge funds when there is a hedge fund lockup period. The second essay studies the investment

  2. Formal Method of Description Supporting Portfolio Assessment

    Science.gov (United States)

    Morimoto, Yasuhiko; Ueno, Maomi; Kikukawa, Isao; Yokoyama, Setsuo; Miyadera, Youzou

    2006-01-01

    Teachers need to assess learner portfolios in the field of education. However, they need support in the process of designing and practicing what kind of portfolios are to be assessed. To solve the problem, a formal method of describing the relations between the lesson forms and portfolios that need to be collected and the relations between…

  3. The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization

    OpenAIRE

    B. Marasović; S. Pivac; S. V. Vukasović

    2015-01-01

    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 pr...

  4. Taking Libraries’ Cultural Content to the User – Approaches and Experiences from the EEXCESS Project

    Directory of Open Access Journals (Sweden)

    Timo Borst

    2016-09-01

    Full Text Available Before the advent of the internet users had to physically visit libraries and other cultural institutions in order to search, find and access content. With the emergence and massive use of the World Wide Web and associated tools and technologies this situation has changed drastically. If content is to be found and used, it must be present where users do their daily digital work. The aim of the EU project EEXCESS (http://eexcess.eu/ is to inject the content into the working environments of the users. In this paper, we show some of the approaches, use cases and technical implementations we developed in the project.

  5. Delegated Portfolio Management and Optimal Allocation of Portfolio Managers

    DEFF Research Database (Denmark)

    Christensen, Michael; Vangsgaard Christensen, Michael; Gamskjaer, Ken

    2015-01-01

    In this article, we investigate whether the application of the mean-variance framework on portfolio manager allocation offers any out-of-sample benefits compared to a naïve strategy of equal weighting. Based on an exclusive data-set of high-net-worth (HNW) investors, we utilize a wide variety of ...

  6. Study of Evaluation OSH Management System Policy Based On Safety Culture Dimensions in Construction Project

    Science.gov (United States)

    Latief, Yusuf; Armyn Machfudiyanto, Rossy; Arifuddin, Rosmariani; Mahendra Fira Setiawan, R.; Yogiswara, Yoko

    2017-07-01

    Safety Culture in the construction industry is very influential on the socio economic conditions that resulted in the country’s competitiveness. Based on the data, the accident rate of construction projects in Indonesia is very high. In the era of the Asian Economic Community (AEC) Indonesian contractor is required to improve competitiveness, one of which is the implementation of the project without zero accident. Research using primary and secondary data validated the results of the literature experts and questionnaire respondents were analyzed using methods SmartPLS, obtained pattern of relationships between dimensions of safety culture to improve the performance of Safety. The results showed that the behaviors and Cost of Safety into dimensions that significantly affect the performance of safety. an increase in visible policy-based on Regulation of Public Work and Housing No 5/PRT/M/2014 to improve to lower the accident rate.

  7. Improving IT Project Portfolio Management: Lessons Learned

    DEFF Research Database (Denmark)

    Pedersen, Keld

    2013-01-01

    The IT PPM improvement process is not well understood, and our knowledge about what makes IT PPM improvement succeed or fail is not well developed. This article presents lessons learned from organizations trying to improve their IT PPM practice. Based on this research IT PPM practitioners are adv...

  8. E-Portfolios and Personalized Learning: Research in Practice with Two Dyslexic Learners in UK Higher Education

    Science.gov (United States)

    Hughes, Julie; Herrington, Margaret; McDonald, Tess; Rhodes, Amy

    2011-01-01

    This paper analyses the use of an e-portfolio system in contributing to the personalized learning of two dyslexic learners at the University of Wolverhampton, UK. The rationale for this research rests at the intersection of generic findings from e-portfolio (and wider e-learning) research and the still challenging project in higher education (HE)…

  9. Protection of European Cultural Heritage from geo - hazards: the PROTHEGO project.

    Science.gov (United States)

    Margottini, Claudio; Spizzichino, Daniele; Cigna, Francesca; Crosta, Giovanni B.; Frattini, Paolo; Themistocleous, Kyriacos; Fernandez Merodo, José Antonio

    2016-04-01

    Tangible cultural heritage includes various categories of monuments and sites, from cultural landscapes and sacred sites to archaeological complexes, individual architectural or artistic monuments and historic urban centers. Such places are continuously impacted and weathered by several internal and external factors, both natural and human-induced, with rapid and/or slow onset, including natural hazards, such as earthquakes or extreme meteorological events, cumulative processes as well as the effects of humans, especially in conflict situations. A clear picture of endangered sites is not available. In particular, the list of List of World Heritage in danger mainly focuses on sites threaten by armed conflicts. New space technology based on radar interferometry (InSAR) is now capable to monitor, since 1992 and with mm precision, surface deformation for reflective targets named persistent scatterers, which consistently return stable signals to the radar satellites. Led by the Italian Institute for Environmental Protection and Research, and in collaboration with NERC British Geological Survey, Geological and Mining Institute of Spain, University of Milano-Bicocca and Cyprus University of Technology, the project PROTHEGO, co-funded in the framework of JPI on Cultural Heritage EU programme (2015-2018), will make an innovative contribution towards the analysis of geo-hazards in areas of cultural heritage in Europe. The project will apply novel InSAR techniques to monitor monuments and sites that are potentially unstable due to landslides, sinkholes, settlement, subsidence, active tectonics as well as structural deformation, all of which could be effected of climate change and human interaction. To magnify the impact of the project, the approach will be implemented in more than 400 sites on the UNESCO World Heritage List in geographical Europe. After the remote sensing investigation, detailed geological interpretation, hazard analysis, local-scale monitoring, advanced

  10. A Relationship Strategy Perspective on Relationship Portfolios

    DEFF Research Database (Denmark)

    Ritter, Thomas; Andersen, Henrik

    2014-01-01

    The paper develops a three-dimensional portfolio model for business relationships which distinguishes among six different categories. Based on assessments of customer profitability, customer commitment, and growth potential, the positioning of a given customer relationship in the portfolio allows...... managers to determine appropriate customer relationship strategies and appropriate performance indicators. Results from applying the portfolio model are reported and managerial implications and future research are discussed.......The paper develops a three-dimensional portfolio model for business relationships which distinguishes among six different categories. Based on assessments of customer profitability, customer commitment, and growth potential, the positioning of a given customer relationship in the portfolio allows...

  11. Performance of the reverse Helmbold universal portfolio

    Science.gov (United States)

    Tan, Choon Peng; Kuang, Kee Seng; Lee, Yap Jia

    2017-04-01

    The universal portfolio is an important investment strategy in a stock market where no stochastic model is assumed for the stock prices. The zero-gradient set of the objective function estimating the next-day portfolio which contains the reverse Kullback-Leibler order-alpha divergence is considered. From the zero-gradient set, the explicit, reverse Helmbold universal portfolio is obtained. The performance of the explicit, reverse Helmbold universal portfolio is studied by running them on some stock-price data sets from the local stock exchange. It is possible to increase the wealth of the investor by using these portfolios in investment.

  12. Portfolios: A Vehicle for Inquiry.

    Science.gov (United States)

    McMackin, Mary C.

    By blending elements of inquiry with the components of portfolios, learning and thinking in teacher preparation courses can be extended and possible tensions between "covering content" and allowing "open-ended investigation" can be mitigated. Over the years, the author mused about how she might nudge graduate students in her…

  13. Dynamic Portfolio Choice with Frictions

    DEFF Research Database (Denmark)

    Garleanu, Nicolae; Heje Pedersen, Lasse

    2016-01-01

    We show how portfolio choice can be modeled in continuous time with transitory and persistent transaction costs, multiple assets, multiple signals predicting returns, and general signal dynamics. The objective function is derived from the limit of discrete-time models with endogenous transaction...

  14. Teaching Sociology through Student Portfolios

    Science.gov (United States)

    Trepagnier, Barbara

    2004-01-01

    After several years of teaching Sociological Thought--an upper division course that focuses on classical, modern, and contemporary sociological theories--the author came across the idea of student portfolios. As a consequence, the course has undergone far-reaching changes. The content remains relatively intact; however, today the theory course…

  15. Adaptation portfolios in water management

    NARCIS (Netherlands)

    Aerts, J.C.J.H.; Botzen, W.J.W.; Werners, S.

    2015-01-01

    This study explores how Modern Portfolio Theory (MPT) can guide investment decisions in integrated water resources management (IWRM) and climate change adaptation under uncertainty. The objectives of the paper are to: (i) explain the concept of diversification to reduce risk, as formulated in MPT;

  16. [New portfolio, a users' manual].

    Science.gov (United States)

    Cougnoux, Nadège; Deken, Éric; Juif, Isabelle; Papas, Anne

    2015-10-01

    The portfolio, a tool for monitoring nursing students throughout their internship period, has now been modified. The new 2015 version can be used to monitor and trace the student's career as well as progress made. One of the major new points is the integration of an intermediate internship assessment. Copyright © 2015 Elsevier Masson SAS. All rights reserved.

  17. Robust Portfolio Optimization Using Pseudodistances

    Science.gov (United States)

    2015-01-01

    The presence of outliers in financial asset returns is a frequently occurring phenomenon which may lead to unreliable mean-variance optimized portfolios. This fact is due to the unbounded influence that outliers can have on the mean returns and covariance estimators that are inputs in the optimization procedure. In this paper we present robust estimators of mean and covariance matrix obtained by minimizing an empirical version of a pseudodistance between the assumed model and the true model underlying the data. We prove and discuss theoretical properties of these estimators, such as affine equivariance, B-robustness, asymptotic normality and asymptotic relative efficiency. These estimators can be easily used in place of the classical estimators, thereby providing robust optimized portfolios. A Monte Carlo simulation study and applications to real data show the advantages of the proposed approach. We study both in-sample and out-of-sample performance of the proposed robust portfolios comparing them with some other portfolios known in literature. PMID:26468948

  18. Portfolio selection with heavy tails

    NARCIS (Netherlands)

    Hyung, N.; Vries, de C.G.

    2007-01-01

    Consider the portfolio problem of choosing the mix between stocks and bonds under a downside risk constraint. Typically stock returns exhibit fatter tails than bonds corresponding to their greater downside risk. Downside risk criteria like the safety first criterion therefore often select corner

  19. Portfolio Selection with Heavy Tails

    NARCIS (Netherlands)

    N. Hyung (Namwon); C.G. de Vries (Casper)

    2004-01-01

    textabstractConsider the portfolio problem of choosing the mix between stocks and bonds under a downside risk constraint. Typically stock returns exhibit fatter tails than bonds corresponding to their greater downside risk. Downside risk criteria like the safety first criterion therefore of ten

  20. Does health affect portfolio choice?

    Science.gov (United States)

    Love, David A; Smith, Paul A

    2010-12-01

    A number of recent studies find that poor health is empirically associated with a safer portfolio allocation. It is difficult to say, however, whether this relationship is truly causal. Both health status and portfolio choice are influenced by unobserved characteristics such as risk attitudes, impatience, information, and motivation, and these unobserved factors, if not adequately controlled for, can induce significant bias in the estimates of asset demand equations. Using the 1992-2006 waves of the Health and Retirement Study, we investigate how much of the connection between health and portfolio choice is causal and how much is due to the effects of unobserved heterogeneity. Accounting for unobserved heterogeneity with fixed effects and correlated random effects models, we find that health does not appear to significantly affect portfolio choice among single households. For married households, we find a small effect (about 2-3 percentage points) from being in the lowest of five self-reported health categories. Copyright © 2009 John Wiley & Sons, Ltd.

  1. Supply contract and portfolio insurance

    Science.gov (United States)

    Runsheng Yin; Bob Izlar

    2001-01-01

    The long-term growth of institutional timberland investments depends on the ability of timberland investment management organizations (TIMO) to deal effectively with securitization, leveraging, arbitraging, supply contracting, portfolio insurance, tax efficiency enhancement, and other issues. Financial engineering holds great promise for many of these issues. This...

  2. Turnover activity in wealth portfolios

    NARCIS (Netherlands)

    Castaldi, C.; Milakovic, M.

    2007-01-01

    We examine several subsets of the wealthiest individuals in the US and the UK that are compiled by Forbes Magazine and the Sunday Times. Since these are named subsets, we can calculate the returns to wealth portfolios, and calibrate a statistical equilibrium model of wealth distribution that

  3. Turnover activity in wealth portfolios

    NARCIS (Netherlands)

    Castaldi, Carolina; Milakovic, Mishael

    We examine several subsets of the wealthiest individuals in the US and the UK that are compiled by Forbes Magazine and the Sunday Times. Since these are named subsets, we can calculate the returns to wealth portfolios, and calibrate a statistical equilibrium model of wealth distribution that

  4. HEURISTIC APPROACHES FOR PORTFOLIO OPTIMIZATION

    OpenAIRE

    Manfred Gilli, Evis Kellezi

    2000-01-01

    The paper first compares the use of optimization heuristics to the classical optimization techniques for the selection of optimal portfolios. Second, the heuristic approach is applied to problems other than those in the standard mean-variance framework where the classical optimization fails.

  5. Optimal Portfolio Choice with Annuitization

    NARCIS (Netherlands)

    Koijen, R.S.J.; Nijman, T.E.; Werker, B.J.M.

    2006-01-01

    We study the optimal consumption and portfolio choice problem over an individual's life-cycle taking into account annuity risk at retirement. Optimally, the investor allocates wealth at retirement to nominal, inflation-linked, and variable annuities and conditions this choice on the state of the

  6. Household Portfolios in the Netherlands

    NARCIS (Netherlands)

    Alessie, R.J.M.; Hochgürtel, S.; van Soest, A.H.O.

    2000-01-01

    We describe and analyse the portfolio structure of Dutch households using micro panel data from the CentER Savings Survey, 1993-1998.The data allows for a distinction between many types of assets.Moreover, we have information on mortgage debt, consumer debt, etc.We analyse the composition of

  7. Managing a "N" Securities Portfolio

    Directory of Open Access Journals (Sweden)

    Costică Vlad

    2016-01-01

    For the application that will be described below, namely the management of a portfolio of eightsecurity bonds, a financial analyst should carry more than 10^15 computing operations. Thedemonstration focuses on the analysis of results and on summarizing the concepts used.

  8. Comparison of Portfolio Selection and Performance: Shari’ah-Compliant and Socially Responsible Investment Portfolios

    Directory of Open Access Journals (Sweden)

    Mehmet Asutay

    2015-04-01

    Full Text Available This study examines the effect of Islamic screening criteria on Shari’ah-compliant portfolio selection and performance compared to Socially Responsible Investment (SRI portfolio. Each portfolio constructed from 15 stocks based on FTSE 100 using data from year 1997. Mean-variance portfolio optimization is employed with some financial ratios added as constraints for the Shari’ah portfolio. Annual expected return of each portfolio from 2008 to 2013 is used to calculate Sharpe’s ratio, Treynor ratio and Jensen’s alpha as the performance measurement tools. Macroeconomic variables are assessed using ordinary least square to examine whether they influence the portfolios’ expected returns or not. The result finds that Shari’ah portfolio has a better performance than SRI from year 2008 to 2010 shown by higher value of the measurement tools. However, from 2011 to 2013, SRI portfolio has better performance than Shari’ah portfolio

  9. Concordance measures and second order stochastic dominance-portfolio efficiency analysis

    Czech Academy of Sciences Publication Activity Database

    Kopa, Miloš; Tichý, T.

    2012-01-01

    Roč. 15, č. 4 (2012), s. 110-120 ISSN 1212-3609 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : dependency * concordance * portfolio selection * second order stochastic dominance Subject RIV: BB - Applied Statistics, Operational Research Impact factor: 0.633, year: 2012 http://library.utia.cas.cz/separaty/2013/E/kopa-concordance measures and second order stochastic dominance- portfolio efficiency analysis.pdf

  10. The modern portfolio theory applied to wind farm financing

    Energy Technology Data Exchange (ETDEWEB)

    Chaves-Schwinteck, P. [DEWI GmbH, Oldenburg (Germany)

    2011-02-15

    An alternative to the application of the principles of the Modern Portfolio Theory as a strategy to the reduction of the risks around the energy production of wind farms was presented in the last sections. The potential of geographical diversification to reduce the risks related to the availability of wind as a primary resource was demonstrated by the results of the first case study. Furthermore, the results of the second case study have shown that, once a sufficient history of technical performance data is available, a reduction of the risks linked to the technical performance of the wind turbines can be achieved in a similar way. Nevertheless, the existence of 'non-diversifiable' risks still presents a challenge for the financing of wind farms. In this sense, it is important to point out that the financing performance of a portfolio of wind farms is extremely dependent on the individual performance of the single projects. In other words, a portfolio analysis is not a miracle. A 'bad' project remains a 'bad' project even when this project is bundled with a 'good' one. For this reason, other risk management strategies, as for example, a well performed technical due diligence should be always taken into consideration. (orig.)

  11. PROJECT ANQA: DIGITIZING AND DOCUMENTING CULTURAL HERITAGE IN THE MIDDLE EAST

    Directory of Open Access Journals (Sweden)

    S. Akhtar

    2017-08-01

    Full Text Available The practice of digitizing cultural heritage sites is gaining ground among conservation scientists and scholars in architecture, art history, computer science, and related fields. Recently, the location of such sites in areas of intense conflict has highlighted the urgent need for documenting cultural heritage for the purposes of preservation and posterity. The complex histories of such sites requires more than just their digitization, and should also include the meaningful interpretation of buildings and their surroundings with respect to context and intangible values. Project Anqa is an interdisciplinary and multi-partner effort that goes beyond simple digitization to record at-risk heritage sites throughout the Middle East and Saharan Africa, most notably in Syria and Iraq, before they are altered or destroyed. Through a collaborative process, Anqa assembles documentation, historically contextualizes it, and makes data accessible and useful for scholars, peers, and the wider public through state-of-the-art tools. The aim of the project is to engage in capacity-building on the ground in Syria and Iraq, as well as to create an educational web platform that informs viewers about cultural heritage in the region through research, digital storytelling, and the experience of virtual environments.

  12. Project Anqa: Digitizing and Documenting Cultural Heritage in the Middle East

    Science.gov (United States)

    Akhtar, S.; Akoglu, G.; Simon, S.; Rushmeier, H.

    2017-08-01

    The practice of digitizing cultural heritage sites is gaining ground among conservation scientists and scholars in architecture, art history, computer science, and related fields. Recently, the location of such sites in areas of intense conflict has highlighted the urgent need for documenting cultural heritage for the purposes of preservation and posterity. The complex histories of such sites requires more than just their digitization, and should also include the meaningful interpretation of buildings and their surroundings with respect to context and intangible values. Project Anqa is an interdisciplinary and multi-partner effort that goes beyond simple digitization to record at-risk heritage sites throughout the Middle East and Saharan Africa, most notably in Syria and Iraq, before they are altered or destroyed. Through a collaborative process, Anqa assembles documentation, historically contextualizes it, and makes data accessible and useful for scholars, peers, and the wider public through state-of-the-art tools. The aim of the project is to engage in capacity-building on the ground in Syria and Iraq, as well as to create an educational web platform that informs viewers about cultural heritage in the region through research, digital storytelling, and the experience of virtual environments.

  13. On integration and innovation of sino-foreign safety culture in Haiyang AP1000 Project

    International Nuclear Information System (INIS)

    Li Ruipu; Song Fengwei

    2010-01-01

    The undergoing Haiyang Nuclear Power Plant is not only introducing the top-advanced AP1000 nuclear technology, but also the mature HSE management system from U.S.A. It's very important for both sides to communicate, comprehend and acculturation of both different culture. After over 1 year discussion and practice, the experts of Westinghouse Consortium and Chinese HSE engineers have established an distinctive safety culture of AP1000 Project initially, demonstrating the followings: Exemplary actions of the expat experts and the SNPTC leaders, the high level standard HSE procedures, HSE audit, various training, HSE inspection all-around, the safety performance assessment for prospective index, JHA/JSA , emergency system, humanism rewards and punishment etc.. Haiyang SPMO has made Three-Step master plan for AP1000 project HSE Routine by analysis the site problems and the difference between Chinese and American, that is, from 2008 to 2020, when nuclear power achieve to independent, safety culture of Haiyang AP1000 will change from 'dependent' to 'independent', until the last 'interdependent'. (authors)

  14. Domesticating Hybridity: Straits Chinese Cultural Heritage Projects in Malaysia and Singapore

    Directory of Open Access Journals (Sweden)

    Karen M. Teoh

    2015-12-01

    Full Text Available This article examines the literal and figurative domestication of Straits Chinese, or Peranakan, history in selected heritage projects in late twentieth-century Malaysia and Singapore. These projects simultaneously foreground Straits Chinese history as a symbol of interracial harmony and marginalize it as a cultural artifact. Over the late nineteenth and twentieth centuries, the ethnoculturally hybrid Straits Chinese positioned themselves as “the King’s Chinese,” champions of a Confucian-values renaissance, and citizens of independent Malaysia and Singapore. Their adaptability helped them survive the upheaval of imperialism, decolonization, and nation building, but it was also controversial for its suggestion of political flexibility. Today, Southeast Asian governments and the Peranakan themselves depict the community as a uniquely local model of ethnic integration. Museums and historic homes emphasize portrayals and consumption of supposedly feminine aspects of Peranakan culture (e.g., fashion and cuisine, while downplaying purportedly masculine elements (e.g., the possession of multiple nationalities. By conflating femininity, tradition, and racial hybridity, this approach reifies stereotypes about gender and cultural identity, and replaces transgressive potential with politically anodyne nostalgia and commercialization. As anxieties about race, national history, and belonging continue to undergird the modern polity, transnationalism and transculturalism are acceptable as long as they are confined to the past.

  15. FORMALIZATION OF THE ACCOUNTING VALUABLE MEMES METHOD FOR THE PORTFOLIO OF ORGANIZATION DEVELOPMENT AND INFORMATION COMPUTER TOOLS FOR ITS IMPLEMENTATION

    Directory of Open Access Journals (Sweden)

    Serhii D. Bushuiev

    2017-12-01

    Full Text Available The current state of project management has been steadily demonstrating a trend toward increasing the role of flexible "soft" management practices. A method for preparing solutions for the formation of a value-oriented portfolio based on a comparison of the level of internal organizational values is proposed. The method formalizes the methodological foundations of value-oriented portfolio management in the development of organizations in the form of approaches, basic terms and technological methods with ICT using, which makes it possible to use them as an integral knowledge system for creating an automated system for managing portfolios of organizations. The result of the study is the deepening of the theoretical provisions for managing the development of organizations through the implementation of a value-oriented portfolio of projects, which allowed formalize the method of recording value memes in the development portfolios of organizations, to disclose its logic, essence, objective basis and rules.

  16. Automatic Trading Agent. RMT Based Portfolio Theory and Portfolio Selection

    Science.gov (United States)

    Snarska, M.; Krzych, J.

    2006-11-01

    Portfolio theory is a very powerful tool in the modern investment theory. It is helpful in estimating risk of an investor's portfolio, arosen from lack of information, uncertainty and incomplete knowledge of reality, which forbids a perfect prediction of future price changes. Despite of many advantages this tool is not known and not widely used among investors on Warsaw Stock Exchange. The main reason for abandoning this method is a high level of complexity and immense calculations. The aim of this paper is to introduce an automatic decision-making system, which allows a single investor to use complex methods of Modern Portfolio Theory (MPT). The key tool in MPT is an analysis of an empirical covariance matrix. This matrix, obtained from historical data, biased by such a high amount of statistical uncertainty, that it can be seen as random. By bringing into practice the ideas of Random Matrix Theory (RMT), the noise is removed or significantly reduced, so the future risk and return are better estimated and controlled. These concepts are applied to the Warsaw Stock Exchange Simulator {http://gra.onet.pl}. The result of the simulation is 18% level of gains in comparison with respective 10% loss of the Warsaw Stock Exchange main index WIG.

  17. A Framework for Assessment of Aviation Safety Technology Portfolios

    Science.gov (United States)

    Jones, Sharon M.; Reveley, Mary S.

    2014-01-01

    The programs within NASA's Aeronautics Research Mission Directorate (ARMD) conduct research and development to improve the national air transportation system so that Americans can travel as safely as possible. NASA aviation safety systems analysis personnel support various levels of ARMD management in their fulfillment of system analysis and technology prioritization as defined in the agency's program and project requirements. This paper provides a framework for the assessment of aviation safety research and technology portfolios that includes metrics such as projected impact on current and future safety, technical development risk and implementation risk. The paper also contains methods for presenting portfolio analysis and aviation safety Bayesian Belief Network (BBN) output results to management using bubble charts and quantitative decision analysis techniques.

  18. The Environmental Trilogy project: Balancing technical, institutional, and cultural perspectives to environmental management

    International Nuclear Information System (INIS)

    Kurstedt, Pamela S.; Jim, Russell; Wadsworth, Bonnie C.W.; Burke, William H.; Kurstedt, Harold A. Jr.

    1992-01-01

    'The significant problems we face cannot be solved at the same level of thinking we were at when we created them.' Albert Einstein. I've identified an initial set of three perspectives important to building an integrated, comprehensive approach to managing the environment - technical, institutional, and cultural. I've constructed an holistic model (called the Environmental Trilogy) for environmental management, encompassing at least these three perspectives and their interrelationships. In this paper, I outline the model and report the results of a working session facilitated at Virginia Tech in Blacksburg, Virginia, in October 1991, involving three representatives from each of the technical, institutional, and cultural perspectives. The institutional members of this group were people who understand institutional effects, rather than those who represent institutions. The working group discussed and analyzed the technical-institutional, technical-cultural, and institutional-cultural inter- relationships of the environmental trilogy. The goals of the working group were to put structure on the environmental trilogy model, to facilitate the definition of variables, and explore relationships between and among variables. The working group members are to continue studying issues and components, perspectives, connections, and cause-and-effect in the models and report back to interested parties. The outcome is projected to be a more holistic, integrated view of the environment. (author)

  19. Portfolio Αssessment of Speaking Skills in English as a Foreign Language in Primary Education

    Directory of Open Access Journals (Sweden)

    Georgia Efthymiou

    2012-02-01

    Full Text Available This study focuses on the assessment of speaking skills with reference to young learners. This is achieved by using an alternative method of assessment, namely portfolios. The general aim is to introduce learners’ to portfolio assessment of their speaking skills and to promote further learning and autonomy making, thus, learning and assessment coexist in a non-threatening mode. Three methodological tools are used for this research; a needs analysis questionnaire addressing the pupils��� needs of the fifth grade of a Greek primary school, the European Portfolio of Languages (ELP - used in tandem with the oral portfolio Dossier - and a final evaluation questionnaire given to the pupils after the completion of the oral portfolio project. Based on the statistical analysis of pupils’ evaluation results and the teacher’s observation throughout the school year, it is evident that the oral portfolio denotes a time-consuming and laborious assessment process. Nevertheless, the pupils see it as an interesting experience and are willing to use it again in the future. In conclusion, students’ portfolios are an innovative method of assessment that can actually promote the development of speaking skills and young learners’ metacognitive strategies in the EFL classroom, and raise their interest in learning.

  20. Phase I Marine and Terrestrial Cultural Resources Survey of 13 Project Items Located on Marsh Island, Iberia Parish, Louisiana

    National Research Council Canada - National Science Library

    Barr, William

    1999-01-01

    This report presents the results of Phase I cultural resources survey and archeological inventory of two marine and 11 terrestrial project items on and near Marsh Island in Iberia Parish, Louisiana...

  1. The Impact of Culture on International Management: A Survey of Project Communications in Singapore

    Directory of Open Access Journals (Sweden)

    Dun Tran

    2012-11-01

    Full Text Available This paper provides the results of an exploratory survey of construction industry managersin Singapore to isolate some of the common effects of national and organisational culture,together with the personal characteristics of managers, on the efficacy of project communication.By examination of significant correlation coefficients, the various types of influencesare identified. The results of the research suggest that the managers’ attitude andbehaviours toward communication may be guided to large extent by their level of competence.The study also provides evidence to suggest that the individuals’ understanding ofthe communication process and its barriers, the way they behave with other individualsand expect to be treated, varies according to national cultures.

  2. High-Quality 3d Models and Their Use in a Cultural Heritage Conservation Project

    Science.gov (United States)

    Tucci, G.; Bonora, V.; Conti, A.; Fiorini, L.

    2017-08-01

    Cultural heritage digitization and 3D modelling processes are mainly based on laser scanning and digital photogrammetry techniques to produce complete, detailed and photorealistic three-dimensional surveys: geometric as well as chromatic aspects, in turn testimony of materials, work techniques, state of preservation, etc., are documented using digitization processes. The paper explores the topic of 3D documentation for conservation purposes; it analyses how geomatics contributes in different steps of a restoration process and it presents an overview of different uses of 3D models for the conservation and enhancement of the cultural heritage. The paper reports on the project to digitize the earthenware frieze of the Ospedale del Ceppo in Pistoia (Italy) for 3D documentation, restoration work support, and digital and physical reconstruction and integration purposes. The intent to design an exhibition area suggests new ways to take advantage of 3D data originally acquired for documentation and scientific purposes.

  3. Humane Orientation as a New Cultural Dimension of the GLOBE Project

    DEFF Research Database (Denmark)

    Schlösser, Oliver; Frese, Michael; Heintze, Anna-Maria

    2013-01-01

    We validate, extend, and empirically and theoretically criticize the cultural dimension of humane orientation of the project GLOBE (Global Leadership and Organizational Behavior Effectiveness Research Program). Theoretically, humane orientation is not just a one-dimensionally positive concept about...... study used student samples from 25 countries that were either high or low in humane orientation (N = 876) and studied their relation to the traditional GLOBE scale and other cultural-level measures (agreeableness, religiosity, authoritarianism, and welfare state score). Findings revealed a strong...... correlation between humane orientation and agreeableness, welfare state score, and religiosity. Out-group humane orientation proved to be the more relevant subfacet of the original humane orientation construct, suggesting that future research on humane orientation should make use of this measure instead...

  4. Multi-cooperation of Cultural Heritage Conservation: The Cangdong Project of Guangdong Province

    Science.gov (United States)

    Tan, J.

    2015-09-01

    In recent years, some workshops and research cases have arisen in China to seek for suitable ways for heritage conservation and development of historic villages. However, the issue of multi-cooperation has not been much mentioned in research works. The case of Cangdong Project in Guangdong Province is a social enterprise. It is a center focusing on heritage education. It organizes tailor-made workshops for interested people from all over China and Hong Kong, Macao and overseas, including university courses for credits, summer/winter camps for primary and middle school students, as well as common people who are interested in heritage conservation. The purpose of the education center is to enhance heritage/cultural interest of the younger generations and common people, and try to work with local villagers to build a wealthy community. Nowadays, more and more villagers moved out for work and the countryside population in China is decreasing, this project also aims to create work opportunities for villagers through heritage conservation projects, so that the villagers can be willing to stay. The project focuses more in a sustainable way for community development. It has been five years since the project was set up in Cangdong Village. The project team worked with villagers, city people, students, scholars, different levels of local governments, investors, Medias, charitable organizations, as well as the market of tourism. As such, a platform of multi-cooperation for the above parties has formed during the past five years. This paper takes the Project experience from 2010-2015 as the case to study multi-cooperation in the field of heritage conservation in China, as well as to discuss how to co-operate the subjective initiatives of different stokeholds.

  5. Measuring of Second-order Stochastic Dominance Portfolio Efficiency

    Czech Academy of Sciences Publication Activity Database

    Kopa, Miloš

    2010-01-01

    Roč. 46, č. 3 (2010), s. 488-500 ISSN 0023-5954 R&D Projects: GA ČR GAP402/10/1610 Institutional research plan: CEZ:AV0Z10750506 Keywords : stochastic dominance * stability * SSD porfolio efficiency Subject RIV: BB - Applied Statistics, Operational Research Impact factor: 0.461, year: 2010 http://library.utia.cas.cz/separaty/2010/E/kopa-measuring of second-order stochastic dominance portfolio efficiency.pdf

  6. The Evolution of Culture-Climate Interplay in Temporary Multi-Organisations: The Case of Construction Alliancing Projects

    OpenAIRE

    Kusuma, I. C.

    2016-01-01

    Organisational culture has been a long-standing debate in management research. However, in the field of construction project management, it is relatively under-explored. This is mainly due to the different organisational context of Temporary Multi-Organisations (TMOs). This research re-explores the notion of organisational culture in construction projects. Based on Darwin’s theory of evolution this research goes back to the very beginning; illustrating the exact meaning and dynamics of organi...

  7. Portfolio optimization in electricity markets

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, Generation companies (Gencos) face price risk and delivery risk that affect their profitability. Risk management is an important and essential part in the Genco's decision making. In this paper, risk management through diversification is considered. The problem of energy allocation between spot markets and bilateral contracts is formulated as a general portfolio optimization problem with a risk-free asset and n risky assets. Historical data of the PJM electricity market are used to demonstrate the approach. (author)

  8. Adult English Language Learners Constructing and Sharing Their Stories and Experiences: The Cultural and Linguistic Autobiography Writing Project

    Science.gov (United States)

    Park, Gloria

    2011-01-01

    This article is the culmination of the Cultural and Linguistic Autobiography (CLA) writing project, which details narrative descriptions of adult English language learners' (ELLs') cultural and linguistic experiences and how those experiences may have influenced the ways in which these learners constructed and reconstructed their identities.…

  9. Large deviations and portfolio optimization

    Science.gov (United States)

    Sornette, Didier

    Risk control and optimal diversification constitute a major focus in the finance and insurance industries as well as, more or less consciously, in our everyday life. We present a discussion of the characterization of risks and of the optimization of portfolios that starts from a simple illustrative model and ends by a general functional integral formulation. A major item is that risk, usually thought of as one-dimensional in the conventional mean-variance approach, has to be addressed by the full distribution of losses. Furthermore, the time-horizon of the investment is shown to play a major role. We show the importance of accounting for large fluctuations and use the theory of Cramér for large deviations in this context. We first treat a simple model with a single risky asset that exemplifies the distinction between the average return and the typical return and the role of large deviations in multiplicative processes, and the different optimal strategies for the investors depending on their size. We then analyze the case of assets whose price variations are distributed according to exponential laws, a situation that is found to describe daily price variations reasonably well. Several portfolio optimization strategies are presented that aim at controlling large risks. We end by extending the standard mean-variance portfolio optimization theory, first within the quasi-Gaussian approximation and then using a general formulation for non-Gaussian correlated assets in terms of the formalism of functional integrals developed in the field theory of critical phenomena.

  10. Making sense with ePortfolios

    DEFF Research Database (Denmark)

    Poulsen, Bo Klindt; Dimsits, Miriam

    2017-01-01

    of the statements from the students concerning their understanding of ePortfolio processes are fundamentally questions of how to make sense of the ePortfolio tool, both in their professional and personal lives. This calls for a didactical stance with the teachers who use ePortfolios, based on empowerment through......This article discusses the question of making sense out of working with ePortfolio in adult education. The article presents the results of a small-scale survey among adults in continuing education who have worked with ePortfolio as the central didactic principle. It is argued that many...... meaning-making, in order for ePortfolios to make sense. It is suggested that two relevant didactic perspectives for making sense of the world can be found in theories of biographicity and metaphor work. Moreover, a strong didactic stance that supports sense-making must be based on a strong teacher role...

  11. Applying Portfolio Theory to EU Electricity Planning and Policy-Making

    Energy Technology Data Exchange (ETDEWEB)

    Awerbuch, Shimon; Berger, Martin

    2003-02-01

    This study introduces mean-variance portfolio theory and evaluates its potential application to the development of efficient (optimal) European Union (EU-15) generating portfolios that enhance energy security and diversification objectives. The analysis extends to European countries the previous work done by Awerbuch in the US, and applies a significantly more detailed portfolio model that reflects the risk of the relevant generating cost streams: fuel, operation and maintenance and construction period costs. It illustrates the portfolio effects of different generating mixes. The study offers preliminary findings on the effects of including more renewable energy sources in the typical EU portfolio mix and suggests interesting directions for further study. The study arises from the perception that these standard, finance-oriented analyses may offer valuable enhancements to energy planning, and concepts of energy security and diversity. Clearly the combination of better portfolio construction and more accurate pricing should lead to more optimal decisions in the round. This study, therefore, represents an effort to complement traditional approaches and point researchers and planners into new territory. The results generally indicate that the existing and projected EU generating mixes are sub optimal - though slightly - from a risk-return perspective, which implies that feasible portfolios with lower cost and risk exist. These can be developed by adjusting the conventional mix and by including larger shares of wind or similar renewable technologies. The results of the portfolio analysis suggest that fixed cost technologies such as renewables must be a part of any efficient generating portfolio. Our assessment of all technologies is limited to risk and cost measures, although other benefits, including low externality costs and sustainability, are often cited for renewables.

  12. Post-modern portfolio theory supports diversification in an investment portfolio to measure investment's performance

    OpenAIRE

    Rasiah, Devinaga

    2012-01-01

    This study looks at the Post-Modern Portfolio Theory that maintains greater diversification in an investment portfolio by using the alpha and the beta coefficient to measure investment performance. Post-Modern Portfolio Theory appreciates that investment risk should be tied to each investor's goals and the outcome of this goal did not symbolize economic of the financial risk. Post-Modern Portfolio Theory's downside measure generated a noticeable distinction between downside and upside volatil...

  13. Evaluation of an established learning portfolio.

    Science.gov (United States)

    Vance, Gillian; Williamson, Alyson; Frearson, Richard; O'Connor, Nicole; Davison, John; Steele, Craig; Burford, Bryan

    2013-02-01

    The trainee-held learning portfolio is integral to the foundation programme in the UK. In the Northern Deanery, portfolio assessment is standardised through the Annual Review of Competence Progression (ARCP) process. In this study we aimed to establish how current trainees evaluate portfolio-based learning and ARCP, and how these attitudes may have changed since the foundation programme was first introduced. Deanery-wide trainee attitudes were surveyed by an electronic questionnaire in 2009 and compared with perceptions recorded during the pilot phase (2004-2005).  Many trainees continue to view the e-portfolio negatively. Indeed, significantly fewer trainees in 2009 thought that the e-portfolio was a 'good idea' or a 'worthwhile investment of time' than in 2005. Trainees remain unconvinced about the educational value of the e-portfolio: fewer trainees in 2009 regarded it as a tool that might help focus on training or recognise individual strengths and weaknesses. Issues around unnecessary bureaucracy persist. Current trainees tend to understand how to use the e-portfolio, but many did not know how much, or what evidence to collect. Few supervisors were reported to provide useful guidance on the portfolio. ARCP encouraged portfolio completion but did not give meaningful feedback to drive future learning.   Continued support is needed for both trainees and supervisors in portfolio-building skills and in using the e-portfolio as an educational tool. Trainee-tailored feedback is needed to ensure that portfolio-based assessment promotes lifelong, self-directed and reflective learners. © Blackwell Publishing Ltd 2013.

  14. Portfolios with nonlinear constraints and spin glasses

    Science.gov (United States)

    Gábor, Adrienn; Kondor, I.

    1999-12-01

    In a recent paper Galluccio, Bouchaud and Potters demonstrated that a certain portfolio problem with a nonlinear constraint maps exactly onto finding the ground states of a long-range spin glass, with the concomitant nonuniqueness and instability of the optimal portfolios. Here we put forward geometric arguments that lead to qualitatively similar conclusions, without recourse to the methods of spin glass theory, and give two more examples of portfolio problems with convex nonlinear constraints.

  15. Correlation risk and optimal portfolio choice

    OpenAIRE

    Buraschi, Andrea; Porchia, Paolo; Trojani, Fabio

    2010-01-01

    We develop a new framework for multivariate intertemporal portfolio choice that allows us to derive optimal portfolio implications for economies in which the degree of correlation across industries, countries, or asset classes is stochastic. Optimal portfolios include distinct hedging components against both stochastic volatility and correlation risk. We find that the hedging demand is typically larger than in univariate models, and it includes an economically significant covariance hedging...

  16. Integrated Portfolio Analysis: Return on Investment and Real Options Analysis of Intelligence Information Systems (Cryptologic Carry On Program)

    National Research Council Canada - National Science Library

    Rios, Jr., Cesar G; Housel, Thomas; Mun, Johnathan

    2006-01-01

    ...) on individual projects, programs, and processes within a portfolio of IT investments. Using KVA historical data as a platform, the authors evaluate potential strategic investments with real options analysis...

  17. Mean-Reverting Portfolio With Budget Constraint

    Science.gov (United States)

    Zhao, Ziping; Palomar, Daniel P.

    2018-05-01

    This paper considers the mean-reverting portfolio design problem arising from statistical arbitrage in the financial markets. We first propose a general problem formulation aimed at finding a portfolio of underlying component assets by optimizing a mean-reversion criterion characterizing the mean-reversion strength, taking into consideration the variance of the portfolio and an investment budget constraint. Then several specific problems are considered based on the general formulation, and efficient algorithms are proposed. Numerical results on both synthetic and market data show that our proposed mean-reverting portfolio design methods can generate consistent profits and outperform the traditional design methods and the benchmark methods in the literature.

  18. Parametric Portfolio Policies with Common Volatility Dynamics

    DEFF Research Database (Denmark)

    Ergemen, Yunus Emre; Taamouti, Abderrahim

    A parametric portfolio policy function is considered that incorporates common stock volatility dynamics to optimally determine portfolio weights. Reducing dimension of the traditional portfolio selection problem significantly, only a number of policy parameters corresponding to first- and second......-order characteristics are estimated based on a standard method-of-moments technique. The method, allowing for the calculation of portfolio weight and return statistics, is illustrated with an empirical application to 30 U.S. industries to study the economic activity before and after the recent financial crisis....

  19. A Pilot Study: Facilitating Cross-Cultural Understanding with Project-Based Collaborative Learning in an Online Environment

    Science.gov (United States)

    Shadiev, Rustam; Hwang, Wu-Yuin; Huang, Yueh-Min

    2015-01-01

    This study investigated three aspects: how project-based collaborative learning facilitates cross-cultural understanding; how students perceive project-based collaborative learning implementation in a collaborative cyber community (3C) online environment; and what types of communication among students are used. A qualitative case study approach…

  20. Multidimensional Representations of Natural and Cultural Heritage in the DEDI Project

    Directory of Open Access Journals (Sweden)

    Dalibor Radovan

    2013-09-01

    Full Text Available EXTENDED ABSTRACT:DEDI stands for the Digital Encyclopaedia of Natural and Cultural Heritage in Slovenia which was a result of two prototype research and development projects DEDI and DEDI II in the period between 2008 and 2010. The two projects were co-financed by the Ministry of Higher Education, Science and Technology and the European Regional Development Fund in the frame of research and development projects e-content and e-services. DEDI is the first attempt of multimediarich digital representation of Slovenian natural and cultural heritage on a common web site offering verifiable, qualitative and complex content to a wide range of general public. Digital content (text, video records, audio records, photographs is enriched by 2-dimensional and/or 3-dimensional visualisation of geographical data or even by 4-dimensional models with time component. 4D models combine 3D models with the time dimension. Thus it is possible to simulate the past, the current and the future condition of natural and cultural heritage objects, their changes, growth, deterioration or oscillation. 3D and 4D models are more explanatory, plastic and attractive to the unprofessional public thus increasing the interest in the digital encyclopaedia. Technological solutions for the project were developed by the consortium partners in the field of web technologies who succeeded to locate all immovable natural and cultural heritage objects. The Google Maps web platform is normally used for 2D representations but it is often too complex to represent a large amount of data. In order to meet the needs of the digital encyclopaedia data need to be structured and linked which is one of the main advantages of Geopedia, an interactive atlas which enables active user participation in adding and editing information on Slovenia. A 3D visualisation tool Gaea+ is used for real time visualisation of 3D models offering user-friendly presentation of any geospatial information and an

  1. Low volatility sector-based portfolios: a South African case

    African Journals Online (AJOL)

    Black pointed out that when investors are restricted from using leverage or bor- ..... takes into account the correlation between the sectors in a portfolio. ..... 3The information ratio of a portfolio is the active premium (portfolio annualised return ...

  2. Portfolio Diversification with Commodity Futures: Properties of Levered Futures

    NARCIS (Netherlands)

    Woodard, J.D.; Egelkraut, T.M.; Garcia, P.; Pennings, J.M.E.

    2005-01-01

    Portfolio Diversification with Commodity Futures: Properties of Levered Futures This study extends previous work on the impact of commodity futures on portfolio performance by explicitly incorporating levered futures into the portfolio optimization problem. Using data on nine individual commodity

  3. Reliability of Portfolio: A Closer Look at Findings from Recent Publications

    Science.gov (United States)

    Oskay, Ozge Ozyalcin; Schallies, Michael; Morgil, Inci

    2008-01-01

    In this review article, conventional portfolio assessment and new developments in portfolio assessment are investigated. The concept of portfolio, portfolio building steps, contents of portfolio, evaluation of portfolio, advantages, disadvantages and concerns in using portfolio as well as validity and reliability of portfolio assessment are…

  4. Meeting the government renewable portfolio standard requirements

    International Nuclear Information System (INIS)

    Crawley, M.

    2004-01-01

    This Power Point presentation reviewed renewable portfolio standards (RPSs) from the perspective of AIM PowerGen Corp, an Ontario based wind power development company. Details of AIM's wind projects and wind projects development team were presented and details of the Erie Shores Wind Farm were discussed. New power supply needs in Ontario were evaluated, and challenges with the current energy mix were examined. It was noted that Ontario has significant low-cost, large-scale hydro assets and proven private sector nuclear operational success, as well as an aging transmission system connecting coal-fired assets. Wind, hydro and natural gas generation options were reviewed. Details of Ontario's objectives for enabling renewable energy sources were presented. Challenges with 2007 deadlines, European feed-in tariffs and negotiated contracts were discussed. The Federal government's role in stimulating resource and energy sectors was evaluated. Renewable energy policies were discussed, including the recent wind power production incentive (WPPI) expansion. It was recommended that Ontario stick with current targets and move quickly to the next procurement phase. A review of targets based on the success of earlier projects was recommended. tabs., figs

  5. Science in Hawaii/Haawina Hoopapau: A Culturally Responsive Curriculum Project

    Science.gov (United States)

    Galloway, L. M.; Roberts, K.; Leake, D. W.; Stodden, R. S.; Crabbe, V.

    2005-12-01

    The marvels of modern science often fail to engage indigenous students, as the content and instructional style are usually rooted in the Western experience. This 3 year project, funded by the US Dept. of Education for the Education of Native Hawaiians, offers a curriculum that teaches science through (rather than just about) Native Hawaiian culture. The curriculum focuses on the interdependence of natural resources in our ahupuaa, or watersheds, and helps students strengthen their sense of place and self to malama i ka aina, to care for the land. Further, the curriculum is designed to: engage students in scientific study with relevant, interesting content and activities; improve student achievement of state department of education standards; increase student knowledge and skills in science, math and language arts; respond to the learning needs of Native Hawaiian and/or at-risk students. The project will be presented by a curriculum writer who created and adapted more than a year's worth of materials by teaming with kupuna (respected elders), local cultural experts and role models, educators (new, veteran, Hawaiian, non-Hawaiian, mainland, general and special education teachers), and professionals at the Center on Disability Studies at the University of Hawaii and ALU LIKE, Inc, a non-profit organization to assist Native Hawaiians. The materials created thus far are available for viewing at: www.scihi.hawaii.edu The curriculum, designed for grades 8-11 science classes, can be used to teach a year-long course, a unit, or single lesson related to astronomy, biology, botany, chemistry, geology, oceanography, physical and environmental sciences. This project is in its final year of field testing, polishing and dissemination, and therefore this session will encourage idea sharing, as does our copyright free Web site.

  6. Transforming community members into diabetes cultural health brokers: the Neighborhood Health Talker project.

    Science.gov (United States)

    Cadzow, Renee B; Craig, Mary; Rowe, Jimmy; Kahn, Linda S

    2013-01-01

    The purpose of this study was to evaluate a community-based diabetes education pilot project. The Neighborhood Health Talker project aimed to train and implement cultural health brokers primarily targeting communities of color to improve community members' diabetes knowledge and diabetes self-management skills. A secondary aim was to establish diabetes resource libraries accessible to communities that normally experience barriers to these resources. Recruited community members completed 1 week of formal training developed by a multidisciplinary team in Buffalo, NY. The effect of training was evaluated through the use of baseline surveys, a pretest/posttest covering all training content, and daily quizzes evaluating knowledge relevant to each of the five training modules. Trained NHTs then held at least five community conversations in various locations and administered anonymous postconversation surveys to participants. Descriptive statistics and qualitative analysis techniques were used to summarize test, quiz, and survey results. Twelve women and 1 man completed the training program. Working alone as well as in pairs, each held at least five community conversations reaching over 700 community members of all ages over 3 months and established 8 diabetes resource libraries in the community. All trainees increased their diabetes knowledge and confidence as well as their abilities to perform the tasks of a cultural health broker. Trainees also indicated that the goals they set at training initiation were met. The training was successful in increasing trainee knowledge and confidence about diabetes prevention and self-management. Participants not only developed proficiency in discussing diabetes, they also made important lifestyle changes that demonstrated their commitment to the cause and the project. Low-cost initiatives like this are easily reproducible in other communities of color and could be modified to meet the needs of other communities as well.

  7. Using cultural-historical activity theory to analyze social service practices evolving from the Norwegian HUSK projects.

    Science.gov (United States)

    Foot, Kirsten

    2015-01-01

    The HUSK projects catalyzed innovation in the practices of providing social services that could yield useful insights both within and outside of Norway if analyzed in these two ways: (a) retrospective analysis of the development of individual HUSK projects in light of their cultural-historical contexts, and (b) comparative analysis of the efforts to advance multi-sector collaboration in some of the HUSK projects. Such analyses require a practice-based research approach that takes into account culture and history. In this article the author explains how cultural-historical activity theory provides such an approach, illustrated via several HUSK cases. The author suggests five questions for future analyses of the HUSK projects and argues that insights gleaned from such analyses could contribute significantly to research on-and the provision of-social services.

  8. The work and recovery project: changing organizational culture and practice in New York City outpatient services.

    Science.gov (United States)

    Pascaris, Alysia; Shields, Leslie Reed; Wolf, Jessica

    2008-01-01

    Complex and multiple barriers confront out-patient programs in promoting recovery and addressing mental health recipients' work-related goals. This article describes a focused organizational change project utilizing intensive consultation and technical assistance within five New York City outpatient psychiatric services. The project aimed to increase staff exposure to, understanding and use of work-related and recovery-based concepts to promote consumers' recovery and attainment of employment goals. Tailored assessment, curriculum delivery, and identification and implementation of change objectives were useful strategies in promoting change. This change model can serve to assist programs in their efforts to integrate new approaches and to better understand changes among leadership, staff and consumers, and changes in organizational culture and practice required to support a work and recovery-oriented service paradigm. The project experience suggests that adopting and embracing new practices takes time. Varied and incremental steps toward programmatic and operational changes can be significant and can reap authentic sustainable change occurring in the process of learning, experiencing, internalizing and adjusting to new methods of practice.

  9. IT APPLICATIONS PORTFOLIO MANAGEMENT UNDER BUSINESS AND IMPLEMENTATION UNCERTAINTY

    Institute of Scientific and Technical Information of China (English)

    Masafumi KOTANI; Junichi IIJIMA

    2008-01-01

    Corporations need to improve business processes in order to enhance velocity and service levels while reducing their processing costs and differentiating themselves in the face of competition.The levitation of importance beyond support roles has raised IT investment decisions to high priority in chief executive officers'agendas.Corporate planning groups as well as lines of business are increasingly applying techniques of IT applications portfolio management in a more systematic fashion to improve decision-making and resource-allocation processes. Recent advances in software engineering and IT service delivery methodologies have achieved the logical separation of business functions from implementation.This separation has made a new breed of innovative IT project possible with a new project risk structure;the adjustment of portfolio management techniques is appropriate.We present an integrated portfolio management model so that the corporation can focus on organic growth through sources at both the department and top management levels.The research gives clear advice as to how top management can seek economic growth by selecting an entrepreneurial strategic posture,implying a strong risk-taking propensity.By integrating a risk-return model and risk-tolerance paradigm to cope with today's risk structure,overall capabilities can improve the decision process and the corporation's performance as well.The application of the integrated technique to a Japanese manufacturing firm is described.

  10. IT portfolio decision-making in local governments

    DEFF Research Database (Denmark)

    Agger Nielsen, Jeppe; Pedersen, Keld

    2014-01-01

    by the IT PPM literature) plays a minor role. Our account also reveals how the decision-making practices create IT portfolio problems and in some aspects is considered to have a negative impact on the outcome of e-government investments. Our analysis and previous research into decision-making allows us to argue......IT project portfolio management (IT PPM) has evolved into a significant area of research interest, but we know little about IT PPM practices in public sector organizations. Therefore this article investigates decision-making processes in the IT PPM practices of local governments, and discusses how...... these practices match the normative advice proposed by the IT PPMliterature.We rely on decision-making theories togetherwith case-studies of four Danish local governments.We find that politics, intuition and coincidence play a crucial role in IT PPM decisionmaking, while technical rationality (as proposed...

  11. Ornamental Marine Species Culture in the Coral Triangle: Seahorse Demonstration Project in the Spermonde Islands, Sulawesi, Indonesia

    Science.gov (United States)

    Williams, Susan L.; Janetski, Noel; Abbott, Jessica; Blankenhorn, Sven; Cheng, Brian; Crafton, R. Eliot; Hameed, Sarah O.; Rapi, Saipul; Trockel, Dale

    2014-12-01

    Ornamental marine species (`OMS') provide valuable income for developing nations in the Indo-Pacific Coral Triangle, from which most of the specimens are exported. OMS culture can help diversify livelihoods in the region, in support of management and conservation efforts to reduce destructive fishing and collection practices that threaten coral reef and seagrass ecosystems. Adoption of OMS culture depends on demonstrating its success as a livelihood, yet few studies of OMS culture exist in the region. We present a case study of a land-based culture project for an endangered seahorse ( Hippocampus barbouri) in the Spermonde Islands, Sulawesi, Indonesia. The business model demonstrated that culturing can increase family income by seven times. A Strengths Weaknesses Opportunities Threats (SWOT) analysis indicated good collaboration among diverse stakeholders and opportunities for culturing non-endangered species and for offshoot projects, but complicated permitting was an issue as were threats of market flooding and production declines. The OMS international market is strong, Indonesian exporters expressed great interest in cultured product, and Indonesia is the largest exporting country for H. barbouri. Yet, a comparison of Indonesia ornamental marine fish exports to fish abundance in a single local market indicated that OMS culture cannot replace fishing livelihoods. Nevertheless, seahorse and other OMS culture can play a role in management and conservation by supplementing and diversifying the fishing and collecting livelihoods in the developing nations that provide the majority of the global OMS.

  12. Decision-making in product portfolios of pharmaceutical research and development – managing streams of innovation in highly regulated markets

    Directory of Open Access Journals (Sweden)

    Jekunen A

    2014-10-01

    Full Text Available Antti Jekunen Vaasa Oncology Clinic, Vaasa, Finland Abstract: Decision-making is a core function of any drug development firm. Developing drugs demands a firm to be highly innovative, while at the same time the activity is strictly regulated. Successful drug development offers the right to apply for a long-term patent that confers exclusive marketing rights. This article addresses the issue of what constitutes an adequate portfolio of drugs for a drug development firm and how it might be managed successfully. The paper investigates decision-making in the industry and specifically in the development of oncology drugs from various perspectives: the need for decisions, their timing, decision-making at the project level, the optimal portfolio, tools for portfolio analysis, the evaluation of patents, and finally the importance of the drug portfolio. Drug development decisions as important organizational elements should get more emphasis, and decisions in drug portfolio using modern decision-making methods should be used more widely than what currently happens. Structured, informed decisions would help avoiding late terminations of drugs in Phase III development. An improved research and development pipeline and drug portfolio management are the major elements in the general strategy targeting success. Keywords: decision-making, drug development, clinical oncology, product management, pipeline, portfolio, portfolio analysis, company organization

  13. Academic portfolio in the digital era: organizing and maintaining a portfolio using reference managers.

    Science.gov (United States)

    Bhargava, Puneet; Patel, Vatsal B; Iyer, Ramesh S; Moshiri, Mariam; Robinson, Tracy J; Lall, Chandana; Heller, Matthew T

    2015-02-01

    The academic portfolio has become an integral part of the promotions process. Creating and maintaining an academic portfolio in paper-based or web-based formats can be a cumbersome and time-consuming task. In this article, we describe an alternative way to efficiently organize an academic portfolio using a reference manager software, and discuss some of the afforded advantages. The reference manager software Papers (Mekentosj, Amsterdam, The Netherlands) was used to create an academic portfolio. The article outlines the key steps in creating and maintaining a digital academic portfolio. Using reference manager software (Papers), we created an academic portfolio that allows the user to digitally organize clinical, teaching, and research accomplishments in an indexed library enabling efficient updating, rapid retrieval, and easy sharing. To our knowledge, this is the first digital portfolio of its kind.

  14. Model Risk in Portfolio Optimization

    Directory of Open Access Journals (Sweden)

    David Stefanovits

    2014-08-01

    Full Text Available We consider a one-period portfolio optimization problem under model uncertainty. For this purpose, we introduce a measure of model risk. We derive analytical results for this measure of model risk in the mean-variance problem assuming we have observations drawn from a normal variance mixture model. This model allows for heavy tails, tail dependence and leptokurtosis of marginals. The results show that mean-variance optimization is seriously compromised by model uncertainty, in particular, for non-Gaussian data and small sample sizes. To mitigate these shortcomings, we propose a method to adjust the sample covariance matrix in order to reduce model risk.

  15. X-Culture: An International Project in the Light of Experience Gained over the Years (2010-2016

    Directory of Open Access Journals (Sweden)

    József Poór

    2016-12-01

    Full Text Available The X-Culture project is an innovative modern form of experiential learning predominantly in International Management and International Business. Although experiential learning has some advantages, namely, developing cross-cultural competencies, cultural intelligence, intercultural communication and management skills, differences in personality or conditions also arise as a downside. X-Culture has been evolving throughout the years since 2010 when the original objective was to supplement the theoretical material and in-class teaching. Nowadays more than 4000 master, bachelor and MBA students, mostly of management and economics from more than 37 countries, take part in the project every semester. X-Culture is aimed at students of International Business college courses and training programs with the task of writing a business report or consulting propositions by offering business solutions for a hypothetical client.  This paper outlines the theoretical background of the X-culture project. It describes the evolution and practical and theoretical experience of this project since 2010.

  16. Portfolio Manager Selection – A Case Study

    DEFF Research Database (Denmark)

    Christensen, Michael

    2017-01-01

    Within a delegated portfolio management setting, this paper presents a case study of how the manager selection process can be operationalized in practice. Investors have to pursue a thorough screening of potential portfolio managers in order to discover their quality, and this paper discusses how...

  17. Purchasing portfolio models: a critique and update

    NARCIS (Netherlands)

    Gelderman, C.J.; Weele, van A.J.

    2005-01-01

    Purchasing portfolio models have spawned considerable discussion in the literature. Many advantages and disadvantages have been put forward, revealing considerable divergence in opinion on the merits of portfolio models. This study addresses the question of whether or not the use of purchasing

  18. Robust portfolio selection under norm uncertainty

    Directory of Open Access Journals (Sweden)

    Lei Wang

    2016-06-01

    Full Text Available Abstract In this paper, we consider the robust portfolio selection problem which has a data uncertainty described by the ( p , w $(p,w$ -norm in the objective function. We show that the robust formulation of this problem is equivalent to a linear optimization problem. Moreover, we present some numerical results concerning our robust portfolio selection problem.

  19. Managing R&D Alliance Portfolios

    DEFF Research Database (Denmark)

    Engel Nielsen, Lars; Mahnke, Volker

    2003-01-01

    be observed in several companies engaged in the cross section of telecommunication and mobile technology where increased complexity magnifies managerial challenges. Drawing on modern portfolio theory, this paper offers a model for managing portfolios of R&D alliances. In particular, an analysis...

  20. Essays on intertemporal consumption and portfolio choice

    NARCIS (Netherlands)

    van Bilsen, Servaas

    2015-01-01

    This dissertation consists of two parts, preceded by an introductory chapter. Part I (Chapters 2, 3 and 4) considers optimal consumption and portfolio choice using preference models. Chapter 2 analyzes optimal consumption and portfolio choice under loss aversion and endogenous updating of the

  1. Portfolios for Majors in Professional Communication.

    Science.gov (United States)

    Killingsworth, M. Jimmie; Sanders, Scott P.

    1987-01-01

    Suggests general principles for developing assignments where students prepare portfolios that reveal their overall communication skills in addition to the usual job search tools. Emphasizes that students should concentrate on including works in the portfolio with the criteria of quality, variety, professionalism, and maturity in mind. (SKC)

  2. Reflection during Portfolio-Based Conversations

    Science.gov (United States)

    Oosterbaan, Anne E.; van der Schaaf, Marieke F.; Baartman, Liesbeth K. J.; Stokking, Karel M.

    2010-01-01

    This study aims to explore the relationship between the occurrence of reflection (and non-reflection) and thinking activities (e.g., orientating, selecting, analysing) during portfolio-based conversations. Analysis of 21 transcripts of portfolio-based conversations revealed that 20% of the segments were made up of reflection (content reflection…

  3. IT Portfolio Selection and IT Synergy

    Science.gov (United States)

    Cho, Woo Je

    2010-01-01

    This dissertation consists of three chapters. The primary objectives of this dissertation are: (1) to provide a methodological framework of IT (Information Technology) portfolio management, and (2) to identify the effect of IT synergy on IT portfolio selection of a firm. The first chapter presents a methodological framework for IT project…

  4. Capstone Portfolios and Geography Student Learning Outcomes

    Science.gov (United States)

    Mossa, Joann

    2014-01-01

    Due to increasing demands regarding student learning outcomes and accreditation, a capstone portfolio was added to assess critical thinking and communication skills of geography majors at a large public university in the USA. The portfolio guidelines were designed to be adaptable to a flexible curriculum where about half of the requirements within…

  5. Predictors and Portfolios Over the Life Cycle

    DEFF Research Database (Denmark)

    Kraft, Holger; Munk, Claus; Weiss, Farina

    In a calibrated consumption-portfolio model with stock, housing, and labor income predictability, we evaluate the welfare effects of predictability on life-cycle consumption-portfolio choice. We compare skilled investors who are able to take advantage of all sources of predictability with unskilled...

  6. Optimal Portfolio Choice with Wash Sale Constraints

    DEFF Research Database (Denmark)

    Astrup Jensen, Bjarne; Marekwica, Marcel

    2011-01-01

    We analytically solve the portfolio choice problem in the presence of wash sale constraints in a two-period model with one risky asset. Our results show that wash sale constraints can heavily affect portfolio choice of investors with unrealized losses. The trading behavior of such investors...

  7. On the Teaching of Portfolio Theory.

    Science.gov (United States)

    Biederman, Daniel K.

    1992-01-01

    Demonstrates how a simple portfolio problem expressed explicitly as an expected utility maximization problem can be used to instruct students in portfolio theory. Discusses risk aversion, decision making under uncertainty, and the limitations of the traditional mean variance approach. Suggests students may develop a greater appreciation of general…

  8. The Use of Portfolios in Leadership Education

    Science.gov (United States)

    Olsen, Paul E.

    2009-01-01

    This paper discusses the benefits of using student portfolios in undergraduate leadership education at Saint Michael's College. There appears to be a natural link between the use of portfolios as a tool to facilitate and document leadership growth and development. The Business Administration and Accounting Department at Saint Michael's College…

  9. Optimal portfolio choice under loss aversion

    NARCIS (Netherlands)

    A.B. Berkelaar (Arjan); R.R.P. Kouwenberg (Roy)

    2000-01-01

    textabstractProspect theory and loss aversion play a dominant role in behavioral finance. In this paper we derive closed-form solutions for optimal portfolio choice under loss aversion. When confronted with gains a loss averse investor behaves similar to a portfolio insurer. When confronted with

  10. Optimization of the bank's operating portfolio

    Science.gov (United States)

    Borodachev, S. M.; Medvedev, M. A.

    2016-06-01

    The theory of efficient portfolios developed by Markowitz is used to optimize the structure of the types of financial operations of a bank (bank portfolio) in order to increase the profit and reduce the risk. The focus of this paper is to check the stability of the model to errors in the original data.

  11. Portfolio Diversification Effects of Downside Risk

    NARCIS (Netherlands)

    N. Hyung (Namwon); C.G. de Vries (Casper)

    2004-01-01

    textabstractRisk managers use portfolios to diversify away the un-priced risk of individual securities. In this paper we compare the benefits of portfolio diversification for downside risk in case returns are normally distributed with the case fat tailed distributed returns. The downside risk of a

  12. The Shapley decomposition for portfolio risk

    OpenAIRE

    Stéphane Mussard; Virginie Terraza

    2006-01-01

    The aim of this paper is to provide an application of the Shapley Value to decompose financial portfolio risk. Decomposing the sample covariance risk measure yields relative measures, which enable securities of a portfolio to be classified according to risk scales.

  13. Project delivery in HIV/AIDS and TB in Southern Africa: the cross-cultural management imperative.

    Science.gov (United States)

    Claeyé, Frederik; Jackson, Terence

    2011-01-01

    The purpose of this paper is to report the findings of a broad-based study that initially investigated a possible gap in global inputs into the fight against HIV/AIDS and TB co-infection, and outputs in terms of results achieved. It is proposed that such a gap may be hypothesized to be due, at least in part, to inappropriate management regimes within the global health governance structure. The research does not simply question the effectiveness of the management of programs and projects, but rather the inappropriateness resulting from the lack of addressing cross-cultural issues. The factors facilitating or hampering project service delivery were examined, by looking at 12 case studies in Botswana and South Africa. These data were complemented with seven semi-structured interviews with donor organizations and NGOs, conducted in the North. Cultural interactions were investigated by using the concept of "interfaces". The results suggest that there is a disjuncture between the global and local level that affects project delivery. The main issues hampering project outcomes can be summarized as systemic, structural and cultural. The article's main contributions are both theoretical, looking at global project delivery from a cross-cultural management perspective, as well as to development praxis by highlighting the need to focus more critically on cross-cultural management issues within the global health governance structure, and indeed within international development as a whole.

  14. Project Management

    DEFF Research Database (Denmark)

    Pilkington, Alan; Chai, Kah-Hin; Le, Yang

    2015-01-01

    This paper identifies the true coverage of PM theory through a bibliometric analysis of the International Journal of Project Management from 1996-2012. We identify six persistent research themes: project time management, project risk management, programme management, large-scale project management......, project success/failure and practitioner development. These differ from those presented in review and editorial articles in the literature. In addition, topics missing from the PM BOK: knowledge management project-based organization and project portfolio management have become more popular topics...

  15. Development of a research evaluation protocol for NSD research portfolios

    International Nuclear Information System (INIS)

    Gould, J.

    1999-01-01

    This report is concerned with developing and describing a research evaluation protocol for use by the Nuclear Safety Directorate (NSD), in evaluating their various programmes of research; or aspects of those programmes. The Health and Safety Executive (HSE) has been involved with research evaluation for some considerable time and NSD, as part of HSE, wishes to develop a protocol which, while it meets their needs, is also fully compatible with other HSE approaches. It is intended that the methodology developed by this project will be used for evaluation of the Probabilistic Safety Assessment Portfolio (as a separate project). The usefulness of the methodology will be reviewed in the light of this experience

  16. Cross-cultural dataset for the evolution of religion and morality project.

    Science.gov (United States)

    Purzycki, Benjamin Grant; Apicella, Coren; Atkinson, Quentin D; Cohen, Emma; McNamara, Rita Anne; Willard, Aiyana K; Xygalatas, Dimitris; Norenzayan, Ara; Henrich, Joseph

    2016-11-08

    A considerable body of research cross-culturally examines the evolution of religious traditions, beliefs and behaviors. The bulk of this research, however, draws from coded qualitative ethnographies rather than from standardized methods specifically designed to measure religious beliefs and behaviors. Psychological data sets that examine religious thought and behavior in controlled conditions tend to be disproportionately sampled from student populations. Some cross-national databases employ standardized methods at the individual level, but are primarily focused on fully market integrated, state-level societies. The Evolution of Religion and Morality Project sought to generate a data set that systematically probed individual level measures sampling across a wider range of human populations. The set includes data from behavioral economic experiments and detailed surveys of demographics, religious beliefs and practices, material security, and intergroup perceptions. This paper describes the methods and variables, briefly introduces the sites and sampling techniques, notes inconsistencies across sites, and provides some basic reporting for the data set.

  17. Portfolio Assessment: Production and Reduction of Complexity

    DEFF Research Database (Denmark)

    Keiding, Tina Bering; Qvortrup, Ane

    2015-01-01

    Over the last two decades, the education system has witnessed a shift from summative, product-oriented assessment towards formative, process-oriented assessment. Among the different learning and assessment initiatives introduced in the slipstream of this paradigmatic turn, the portfolio seems...... to have become one of the most popular. By re-describing the portfolio from a systems theoretical point of view, this article discusses established expectations of the portfolio in relation to transparency in learning, reflexivity and self-assessment. It shows that the majority of the literature deals...... with what-questions and that the portfolio is expected to handle a number of challenges with regard to the documentation of learning processes and achievements as well as the conditioning of learning activities. Furthermore, is becomes clear that descriptions of how the portfolio works are sparse. Based...

  18. Student evaluations of the portfolio process.

    Science.gov (United States)

    Murphy, John E; Airey, Tatum C; Bisso, Andrea M; Slack, Marion K

    2011-09-10

    To evaluate pharmacy students' perceived benefits of the portfolio process and to gather suggestions for improving the process. A questionnaire was designed and administered to 250 first-, second-, and third-year pharmacy students at the University of Arizona College of Pharmacy. Although the objectives of the portfolio process were for students to understand the expected outcomes, understand the impact of extracurricular activities on attaining competencies, identify what should be learned, identify their strengths and weaknesses, and modify their approach to learning, overall students perceived the portfolio process as having less than moderate benefit. First-year students wanted more examples of portfolios while second- and third-year students suggested that more time with their advisor would be beneficial. The portfolio process will continue to be refined and efforts made to improve students' perceptions of the process as it is intended to develop the self-assessments skills they will need to improve their knowledge and professional skills throughout their pharmacy careers.

  19. Multiweek cell culture project for use in upper-level biology laboratories.

    Science.gov (United States)

    Marion, Rebecca E; Gardner, Grant E; Parks, Lisa D

    2012-06-01

    This article describes a laboratory protocol for a multiweek project piloted in a new upper-level biology laboratory (BIO 426) using cell culture techniques. Human embryonic kidney-293 cells were used, and several culture media and supplements were identified for students to design their own experiments. Treatments included amino acids, EGF, caffeine, epinephrine, heavy metals, and FBS. Students researched primary literature to determine their experimental variables, made their own solutions, and treated their cells over a period of 2 wk. Before this, a sterile technique laboratory was developed to teach students how to work with the cells and minimize contamination. Students designed their experiments, mixed their solutions, seeded their cells, and treated them with their control and experimental media. Students had the choice of manipulating a number of variables, including incubation times, exposure to treatment media, and temperature. At the end of the experiment, students observed the effects of their treatment, harvested and dyed their cells, counted relative cell numbers in control and treatment flasks, and determined the ratio of living to dead cells using a hemocytometer. At the conclusion of the experiment, students presented their findings in a poster presentation. This laboratory can be expanded or adapted to include additional cell lines and treatments. The ability to design and implement their own experiments has been shown to increase student engagement in the biology-related laboratory activities as well as develop the critical thinking skills needed for independent research.

  20. European cultural projects and their role in promotion of Serbian archaeological heritage as tourist attractions

    Directory of Open Access Journals (Sweden)

    Plemić Bojana

    2017-01-01

    Full Text Available The paper presents cultural projects and international co-operation primarily regional type, in which are included the local archaeological sites, in order to point to the experience and the benefits derived from them. Besides the promotion of tourism aimed at the wider European market, where the cultural roads linking the heritage of Europe with the intention of better understanding of a common identity, significant results were achieved in the presentation of some sites from the time of the Roman domination in Serbia. Thanks to the application of modern technologies, and monitoring global trends in the protection of heritage, prominent sites such as Viminacium, Sirmium, Felix Romuliana and Mediana, have achieved self-sufficiency and provided local economic prosperity. However, despite the positive examples listed, it was concluded that in solving problems related to the preparation of archaeological sites as tourist attractions there must be a systematic approach and support by the appropriate institutions with interconnection and cooperation. Also, on this occasion, the importance of the education of the local population was highlighted as well as the need to intensify formal education of the younger generations, which can significantly raise awareness of the necessity of preserving national heritage, as the first and perhaps the most important step in this process.

  1. Cross-cultural comparisons of drinking motives in 10 countries: Data from the DRINC project.

    Science.gov (United States)

    Mackinnon, Sean P; Couture, Marie-Eve; Cooper, M L; Kuntsche, Emmanuel; O'Connor, Roisin M; Stewart, Sherry H

    2017-11-01

    This study tested the measurement invariance of the Drinking Motives Questionnaire-Revised Short Form (DMQ-R-SF) in undergraduates across 10 countries. We expected the four-factor structure to hold across countries, and for social motives to emerge as the most commonly endorsed motive, followed by enhancement, coping and conformity motives. We also compared individualistic and collectivistic countries to examine potential differences in the endorsement of drinking motives when countries were divided according to this broad cultural value. A sample of 8478 undergraduate drinkers from collectivistic (Portugal, Mexico, Brazil, Spain; n = 1567) and individualistic (Switzerland, Hungary, Canada, the Netherlands, the UK and Ireland, and the USA; n = 6911) countries completed the DMQ-R-SF. Countries were classified as individualistic or collectivistic based on world-wide norms. Using multigroup confirmatory factor analysis, the 4-factor model of the DMQ-R-SF showed configural and metric invariance across all 10 countries. As predicted, the rank order of undergraduates' drinking motive endorsement was identical across countries (social > enhancement > coping > conformity), although a mixed model analysis of variance revealed a significant interaction where undergraduates from individualistic countries more strongly endorsed social and enhancement motives relative to undergraduates from collectivistic countries. There was broad cross-cultural consistency in the factor structure and mean patterns of drinking motives. Undergraduate students appear to drink mainly for positive reinforcement (i.e. for social and enhancement reasons), although this tendency is particularly pronounced among those from more individualistic countries. [Mackinnon SP, Couture M-E, Cooper ML, Kuntsche E, O'Connor RM, Stewart SH, and the DRINC Team. Cross-cultural comparisons of drinking motives in 10 countries: Data from the DRINC project. © 2017 Australasian Professional Society on Alcohol and other

  2. Portfolio Optimization and Mortgage Choice

    Directory of Open Access Journals (Sweden)

    Maj-Britt Nordfang

    2017-01-01

    Full Text Available This paper studies the optimal mortgage choice of an investor in a simple bond market with a stochastic interest rate and access to term life insurance. The study is based on advances in stochastic control theory, which provides analytical solutions to portfolio problems with a stochastic interest rate. We derive the optimal portfolio of a mortgagor in a simple framework and formulate stylized versions of mortgage products offered in the market today. This allows us to analyze the optimal investment strategy in terms of optimal mortgage choice. We conclude that certain extreme investors optimally choose either a traditional fixed rate mortgage or an adjustable rate mortgage, while investors with moderate risk aversion and income prefer a mix of the two. By matching specific investor characteristics to existing mortgage products, our study provides a better understanding of the complex and yet restricted mortgage choice faced by many household investors. In addition, the simple analytical framework enables a detailed analysis of how changes to market, income and preference parameters affect the optimal mortgage choice.

  3. Promoting Profit Model Innovation in Animation Project in Northeast Asia: Case Study on Chinese Cultural and Creative Industry

    OpenAIRE

    Hao Jiao; Yupei Wang; Hongjun Xiao; Jianghua Zhou; Wensi Zeng

    2017-01-01

    Building on a case study of three animation companies in the Chinese cultural and creative industry, this study aims to understand how profit model innovation is promoted. Due to the rapidly changing environments and resource scarcity, cultural and creative companies need to select the appropriate profit model according to their own key resources. The study uncovers two critical factors that promote profit model innovation in animation projects: the quantity of consumers and their consumption...

  4. PRODUCT PORTFOLIO ANALYSIS - ARTHUR D. LITTLE MATRIX

    Directory of Open Access Journals (Sweden)

    Curmei Catalin Valeriu

    2011-07-01

    Full Text Available In recent decades we have witnessed an unseen dynamism among companies, which is explained by their desire to engage in more activities that provide a high level of development and diversification. Thus, as companies are diversifying more and more, their managers confront a number of challenges arising from the management of resources for the product portfolio and the low level of resources with which companies can identify, at a time. Responding to these challenges, over time were developed a series of analytical product portfolio methods through which managers can balance the sources of cash flows from the multiple products and also can identify the place and role of products, in strategic terms, within the product portfolio. In order to identify these methods the authors of the present paper have conducted a desk research in order to analyze the strategic marketing and management literature of the last 2 decades. Widely were studied a series of methods that are presented in the marketing and management literature as the main instruments used within the product portfolio strategic planning process. Among these methods we focused on the Arthur D. Little matrix. Thus the present paper has the purpose to outline the characteristics and strategic implications of the ADL matrix within a company’s product portfolio. After conducting this analysis we have found that restricting the product portfolio analysis to the A.D.L. matrix is not a very wise decision. The A.D.L. matrix among with other marketing tools of product portfolio analysis have some advantages and disadvantages and is trying to provide, at a time, a specific diagnosis of a company’s product portfolio. Therefore, the recommendation for the Romanian managers consists in a combined use of a wide range of tools and techniques for product portfolio analysis. This leads to a better understanding of the whole mix of product markets, included in portfolio analysis, the strategic position

  5. Fabrication of micropatterned hydrogels for neural culture systems using dynamic mask projection photolithography.

    Science.gov (United States)

    Curley, J Lowry; Jennings, Scott R; Moore, Michael J

    2011-02-11

    Increasingly, patterned cell culture environments are becoming a relevant technique to study cellular characteristics, and many researchers believe in the need for 3D environments to represent in vitro experiments which better mimic in vivo qualities. Studies in fields such as cancer research, neural engineering, cardiac physiology, and cell-matrix interaction have shown cell behavior differs substantially between traditional monolayer cultures and 3D constructs. Hydrogels are used as 3D environments because of their variety, versatility and ability to tailor molecular composition through functionalization. Numerous techniques exist for creation of constructs as cell-supportive matrices, including electrospinning, elastomer stamps, inkjet printing, additive photopatterning, static photomask projection-lithography, and dynamic mask microstereolithography. Unfortunately, these methods involve multiple production steps and/or equipment not readily adaptable to conventional cell and tissue culture methods. The technique employed in this protocol adapts the latter two methods, using a digital micromirror device (DMD) to create dynamic photomasks for crosslinking geometrically specific poly-(ethylene glycol) (PEG) hydrogels, induced through UV initiated free radical polymerization. The resulting "2.5D" structures provide a constrained 3D environment for neural growth. We employ a dual-hydrogel approach, where PEG serves as a cell-restrictive region supplying structure to an otherwise shapeless but cell-permissive self-assembling gel made from either Puramatrix or agarose. The process is a quick simple one step fabrication which is highly reproducible and easily adapted for use with conventional cell culture methods and substrates. Whole tissue explants, such as embryonic dorsal root ganglia (DRG), can be incorporated into the dual hydrogel constructs for experimental assays such as neurite outgrowth. Additionally, dissociated cells can be encapsulated in the

  6. Culture.

    Science.gov (United States)

    Smith, Timothy B; Rodríguez, Melanie Domenech; Bernal, Guillermo

    2011-02-01

    This article summarizes the definitions, means, and research of adapting psychotherapy to clients' cultural backgrounds. We begin by reviewing the prevailing definitions of cultural adaptation and providing a clinical example. We present an original meta-analysis of 65 experimental and quasi-experimental studies involving 8,620 participants. The omnibus effect size of d = .46 indicates that treatments specifically adapted for clients of color were moderately more effective with that clientele than traditional treatments. The most effective treatments tended to be those with greater numbers of cultural adaptations. Mental health services targeted to a specific cultural group were several times more effective than those provided to clients from a variety of cultural backgrounds. We recommend a series of research-supported therapeutic practices that account for clients' culture, with culture-specific treatments being more effective than generally culture-sensitive treatments. © 2010 Wiley Periodicals, Inc.

  7. Preliminary Ideas for a Project on Cultural Heritage: "Heva"-Digital Resources Optimization for the Enhancement of Cultural Heritage

    OpenAIRE

    Fernández Martín, J. J.; García Fernández, J.; Delgado del Hoyo, F. J.; Finat Codes, J.

    2012-01-01

    Cultural Heritage documentation by itself is meaningless if it does not help to create wealth and provide values to society. In recent years, the number of digital contents related to cultural heritage resources is growing in a way that it very difficult to discover reliable information. Thanks to the Internet they can be easily published and distributed but there are three main problems: 1) the quality of the resources is not well evaluated or tagged; 2) the resources are fragmented across s...

  8. Renewables portfolio, individual preferences and social values towards RES technologies

    International Nuclear Information System (INIS)

    Kontogianni, Areti; Tourkolias, Christos; Skourtos, Michalis

    2013-01-01

    The massive deployment of renewable energy sources represents a high priority for Greece in order to comply with the Directive 2009/28/EC on the promotion of the use of energy from renewable sources by 2020. In this perspective, Aegean islands especially Lesvos, are endowed with a considerable potential of a portfolio of renewables, a fact that the entrepreneurial interest has already been targeted. However, regulatory attempts for a massive penetration of renewables do not take seriously into account preferences and risk perceptions of local communities where the proposed projects are to be installed. The aim of this study is to investigate individual preferences and social values towards specific technologies of renewables in Lesvos island. We apply an open-ended contingent valuation survey in order to analyze factors shaping public attitudes towards a portfolio of renewable technologies and estimate the economic welfare (Willingness To Pay) of the preferred technologies. We argue that such information is relevant for energy policy design and the establishment of effective measures for the promotion of renewable energy sources. - Highlights: ► We investigate individual preferences and attitudes towards a portfolio of RES technologies. ► We elicit public acceptance for investing in specific RES technologies. ► We analyze factors shaping public preferences of the preferred technologies. ► We estimate the economic welfare of the preferred technologies

  9. Flightdeck Automation Problems (FLAP) Model for Safety Technology Portfolio Assessment

    Science.gov (United States)

    Ancel, Ersin; Shih, Ann T.

    2014-01-01

    NASA's Aviation Safety Program (AvSP) develops and advances methodologies and technologies to improve air transportation safety. The Safety Analysis and Integration Team (SAIT) conducts a safety technology portfolio assessment (PA) to analyze the program content, to examine the benefits and risks of products with respect to program goals, and to support programmatic decision making. The PA process includes systematic identification of current and future safety risks as well as tracking several quantitative and qualitative metrics to ensure the program goals are addressing prominent safety risks accurately and effectively. One of the metrics within the PA process involves using quantitative aviation safety models to gauge the impact of the safety products. This paper demonstrates the role of aviation safety modeling by providing model outputs and evaluating a sample of portfolio elements using the Flightdeck Automation Problems (FLAP) model. The model enables not only ranking of the quantitative relative risk reduction impact of all portfolio elements, but also highlighting the areas with high potential impact via sensitivity and gap analyses in support of the program office. Although the model outputs are preliminary and products are notional, the process shown in this paper is essential to a comprehensive PA of NASA's safety products in the current program and future programs/projects.

  10. Patent portfolio management: literature review and a proposed model.

    Science.gov (United States)

    Conegundes De Jesus, Camila Kiyomi; Salerno, Mario Sergio

    2018-05-09

    Patents and patent portfolios are gaining attention in the last decades, from the called 'pro-patent era' to the recent billionaire transactions involving patent portfolios. The field is growing in importance, both theoretically and practically and despite having substantial literature on new product development portfolio management, we have not found an article relating this theory to patent portfolios. Areas covered: The paper develops a systematic literature review on patent portfolio management to organize the evolution and tendencies of patent portfolio management, highlighting distinctive features of patent portfolio management. Interview with IP manager of three life sciences companies, including a leading multinational group provided relevant information about patent portfolio management. Expert opinion: Based on the systematic literature review on portfolio management, more specifically, on new product development portfolio theory, and interview the paper proposes the paper proposes a reference model to manage patent portfolios. The model comprises four stages aligned with the three goals of the NPD portfolio management: 1 - Linking strategy of the Company's NPD Portfolio to Patent Portfolio; 2 - Balancing the portfolio in buckets; 3 - Patent Valuation (maximizing valuation); 4 - Regularly reviewing the patent portfolio.

  11. 12 CFR 1252.1 - Enterprise portfolio holding criteria.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Enterprise portfolio holding criteria. 1252.1 Section 1252.1 Banks and Banking FEDERAL HOUSING FINANCE AGENCY ENTERPRISES PORTFOLIO HOLDINGS § 1252.1 Enterprise portfolio holding criteria. The Enterprises are required to comply with the portfolio holdings...

  12. Portfolio Assessment: A Handbook for Educators. Assessment Bookshelf Series.

    Science.gov (United States)

    Barton, James, Ed.; Collins, Angelo, Ed.

    This guide contains practical steps for integrating portfolios into any K-12 classroom and tips for effective classroom management of portfolios. It also contains actual examples of portfolios in action in a variety of subject areas. The chapters are: (1) "Starting Out: Designing Your Portfolio" (James Barton and Angelo Collins); (2) "Preparing…

  13. The Finite and Moving Order Multinomial Universal Portfolio

    International Nuclear Information System (INIS)

    Tan, Choon Peng; Pang, Sook Theng

    2013-01-01

    An upper bound for the ratio of wealths of the best constant -rebalanced portfolio to that of the multinomial universal portfolio is derived. The finite- order multinomial universal portfolios can reduce the implementation time and computer-memory requirements for computation. The improved performance of the finite-order portfolios on some selected local stock-price data sets is observed.

  14. Domestic Violence and Social Responsibility in Contemporary Spanish Cinema: A Portfolio View of Behavioral Dynamics

    Science.gov (United States)

    Zanzana, Habib

    2010-01-01

    Domestic abuse continues to claim many lives in Spain despite a series of new laws to protect women and to punish abusers. This essay explores the cultural influences of contemporary Spanish cinema on domestic violence. Four films are assessed against a Portfolio Model of social responsibility that uses two basic dimensions: realism and human…

  15. A Model to Investigate the Effect of Work Ethic Culture on Dynamics of Rework in Management of Projects

    Directory of Open Access Journals (Sweden)

    Hossein Kiani

    2018-03-01

    Full Text Available The present study aims to investigate the effect of work ethic culture on rework in construction projects through a review of literature, surveys, and interviews with project managers. The main research question is what mechanisms can project manager use to balance the costs of personnel training, financial and language incentives, and implementation costs to finish the project with more profit and less rework. In this regard, modelling and data analysis is done using System Dynamics methodology. The results show that by considering work ethic, rework in the project is reduced from 46 % to 39 %. However, the project has been completed with 10 % lower cost and 26 % lower variance. Integrating the issue of rework with the culture of work ethic in the field of project management by at least one exogenous parameter has been studied, while in this study qualitative parameters have been converted to quantitative parameters using fuzzy inference system. The change in management approach to the issue of work ethics and the formulation of human resource strategies of large projects by human resource managers is one of the applications of this study.

  16. METHODICAL BASES OF MANAGEMENT OF INSURANCE PORTFOLIO

    Directory of Open Access Journals (Sweden)

    Serdechna Yulia

    2018-01-01

    Full Text Available Introduction. Despite the considerable arsenal of developments in the issues of assessing the management of the insurance portfolio remains unresolved. In order to detail, specify and further systematize the indicators for the indicated evaluation, the publications of scientists are analyzed. The purpose of the study is to analyze existing methods by which it is possible to formulate and manage the insurance portfolio in order to achieve its balance, which will contribute to ensuring the financial reliability of the insurance company. Results. The description of the essence of the concept of “management of insurance portfolio”, as the application of actuarial methods and techniques to the combination of various insurance risks offered for insurance or are already part of the insurance portfolio, allowing to adjust the size and structure of the portfolio in order to ensure its financial stability, achievement the maximum level of income of an insurance organization, preservation of the value of its equity and financial security of insurance liabilities. It is determined that the main methods by which the insurer’s insurance portfolio can be formed and managed is the selection of risks; reinsurance operations that ensure diversification of risks; formation and placement of insurance reserves, which form the financial basis of insurance activities. The method of managing an insurance portfolio, which can be both active and passive, is considered. Conclusions. It is determined that the insurance portfolio is the basis on which all the activities of the insurer are based and which determines its financial stability. The combination of methods and technologies applied to the insurance portfolio is a management method that can be both active and passive and has a number of specific methods through which the insurer’s insurance portfolio can be formed and managed. It is substantiated that each insurance company aims to form an efficient and

  17. Portfolio analysis of layered security measures.

    Science.gov (United States)

    Chatterjee, Samrat; Hora, Stephen C; Rosoff, Heather

    2015-03-01

    Layered defenses are necessary for protecting the public from terrorist attacks. Designing a system of such defensive measures requires consideration of the interaction of these countermeasures. In this article, we present an analysis of a layered security system within the lower Manhattan area. It shows how portfolios of security measures can be evaluated through portfolio decision analysis. Consideration is given to the total benefits and costs of the system. Portfolio diagrams are created that help communicate alternatives among stakeholders who have differing views on the tradeoffs between security and economic activity. © 2014 Society for Risk Analysis.

  18. Does asymmetric correlation affect portfolio optimization?

    Science.gov (United States)

    Fryd, Lukas

    2017-07-01

    The classical portfolio optimization problem does not assume asymmetric behavior of relationship among asset returns. The existence of asymmetric response in correlation on the bad news could be important information in portfolio optimization. The paper applies Dynamic conditional correlation model (DCC) and his asymmetric version (ADCC) to propose asymmetric behavior of conditional correlation. We analyse asymmetric correlation among S&P index, bonds index and spot gold price before mortgage crisis in 2008. We evaluate forecast ability of the models during and after mortgage crisis and demonstrate the impact of asymmetric correlation on the reduction of portfolio variance.

  19. Technology Audit: Assessment of Innovative Portfolio

    Directory of Open Access Journals (Sweden)

    Kurushina Viktoria

    2016-01-01

    Full Text Available The article discusses the features of the technological audit performing in the companies of oil and gas sector of Russian economy. To measure the innovations quality level the scale was developed based on the Theory of Inventive Problem Solving and the theory of technological structures. Figures of the innovations quantity by levels, volume and quality of the innovative portfolio are offered for assessment the innovative portfolio quality. The method was tested on an example of oil and gas transporting enterprises. The results of the comparative analysis of innovative portfolio are shown.

  20. Design and results of a culturally tailored cancer outreach project by and for Micronesian women.

    Science.gov (United States)

    Aitaoto, Nia; Braun, Kathryn L; Estrella, Julia; Epeluk, Aritae; Tsark, JoAnn

    2012-01-01

    In 2005, approximately 26% of Micronesian women aged 40 or older in Hawai'i used mammography for breast cancer screening. We describe an 18-month project to increase screening participation in this population by tailoring educational materials and using a lay educator approach. New immigrants to Hawai'i are Marshallese from the Republic of the Marshall Islands and Chuukese, Pohnpeians, and Kosraeans from the Federated States of Micronesia. In Hawai'i, these 4 groups refer to themselves collectively as Micronesians, although each group has its own distinct culture and language. From 2006 through 2007, we applied principles of community-based participatory research--trust building, joint assessment, cultural tailoring of materials, and skills transfer--to develop and track the reach of Micronesian women lay educators in implementing a cancer awareness program among Micronesian women living in Hawai'i. Using our tailored in-language materials, 11 lay educators (5 Chuukese, 3 Marshallese, 2 Pohnpeians, and 1 Kosraean) provided one-on-one and small group in-language cancer information sessions to 567 Micronesian women (aged 18-75 years). Among the 202 women aged 40 or older eligible for mammography screening, 166 (82%) had never had a mammogram and were assisted to screening appointments. After 6 months, 146 (88%) of the 166 had received a mammogram, increasing compliance from 18% to 90%. Lay educators reported increases in their skills and their self-esteem and want to extend their skills to other health issues, including diabetes management and immunization. Tailoring materials and using the lay educator model successfully increased participation in breast cancer screening. This model may work in other communities that aim to reduce disparities in access to cancer screening.

  1. Culture of National Philosophical Communities: the Project Dedicated to the Research of Modern Ukrainian Philosophical Traditions

    Directory of Open Access Journals (Sweden)

    Lidiya Bogataya

    2018-04-01

    Full Text Available The article introduces a new Ukrainian research project related to the preparation of a collective monograph. This monograph will highlight the activities of modern Ukrainian philosophical communities. Such communities in their totality constitute a modern national philosophical culture and its study belongs to the category of macro-humanitarian research. The basis for a holistic observation of a culture is, on the one hand, digital technologies that enable technically to take into account practically all the studies that are carried out in a particular field in a certain period of time. On the other hand, new methodological developments are emerging that allow us to quickly process large text arrays. An example of such methodological innovations can be considered the study of American-Italian literary critic Franco Moretti. Moretti examines the opportunities that arise when using “distant reading.” The article emphasizes that the main advantage of “distant reading” is the possibility of taking into account the whole body of texts, and not only its canonical kernel. Introduces the idea of «compression reading» as a special kind of “rapid reading”, which allows you to get the most general idea of the text based on the analysis of the title of the text and its annotation. The development of compression reading technologies along with distant reading technologies will allow efficient and efficient processing of large array of texts. The expediency of actualization of the whole textual array formed in this or that humanitarian field of research is associated with the development of a new ethic. This ethic is the ethic of collective labor. A new understanding of the collective is considered, which is possible only with careful consideration of any manifestation of the individual

  2. Measuring Treasury Bond Portfolio Risk and Portfolio Optimization with a Non-Gaussian Multivariate Model

    Science.gov (United States)

    Dong, Yijun

    The research about measuring the risk of a bond portfolio and the portfolio optimization was relatively rare previously, because the risk factors of bond portfolios are not very volatile. However, this condition has changed recently. The 2008 financial crisis brought high volatility to the risk factors and the related bond securities, even if the highly rated U.S. treasury bonds. Moreover, the risk factors of bond portfolios show properties of fat-tailness and asymmetry like risk factors of equity portfolios. Therefore, we need to use advanced techniques to measure and manage risk of bond portfolios. In our paper, we first apply autoregressive moving average generalized autoregressive conditional heteroscedasticity (ARMA-GARCH) model with multivariate normal tempered stable (MNTS) distribution innovations to predict risk factors of U.S. treasury bonds and statistically demonstrate that MNTS distribution has the ability to capture the properties of risk factors based on the goodness-of-fit tests. Then based on empirical evidence, we find that the VaR and AVaR estimated by assuming normal tempered stable distribution are more realistic and reliable than those estimated by assuming normal distribution, especially for the financial crisis period. Finally, we use the mean-risk portfolio optimization to minimize portfolios' potential risks. The empirical study indicates that the optimized bond portfolios have better risk-adjusted performances than the benchmark portfolios for some periods. Moreover, the optimized bond portfolios obtained by assuming normal tempered stable distribution have improved performances in comparison to the optimized bond portfolios obtained by assuming normal distribution.

  3. The Role of Agribusiness Assets in Investment Portfolios

    OpenAIRE

    Johnson, Michael; Malcolm, Bill; O'Connor, Ian

    2006-01-01

    Investment in agribusiness assets has grown significantly in recent years. The question of interest is whether including agribusiness assets in investment portfolios provide benefits. The effects of diversification by including agribusiness assets in two investment portfolios, a mixed asset portfolio and a diversified share portfolio was investigated using Markowitz’s (1952) Modern Portfolio Theory (MPT) of mean-variance optimization. To measure the performance of agribusiness assets, an in...

  4. An Extensive Evaluation of Portfolio Approaches for Constraint Satisfaction Problems

    Directory of Open Access Journals (Sweden)

    Roberto Amadini

    2016-06-01

    Full Text Available In the context of Constraint Programming, a portfolio approach exploits the complementary strengths of a portfolio of different constraint solvers. The goal is to predict and run the best solver(s of the portfolio for solving a new, unseen problem. In this work we reproduce, simulate, and evaluate the performance of different portfolio approaches on extensive benchmarks of Constraint Satisfaction Problems. Empirical results clearly show the benefits of portfolio solvers in terms of both solved instances and solving time.

  5. Optimal Portfolio Rebalancing Strategy : Evidence from Finnish Stocks

    OpenAIRE

    Savage, Akinwunmi

    2010-01-01

    Portfolio rebalancing is an established concept in portfolio management and investing generally. Assets within a portfolio have different return and risk prospects, and this inevitably leads them to drift away from their initial allocation weights overtime. Portfolio rebalancing is arguably the only method by which such assets can be reset to their initial weights, thus ensuring the portfolio reflects the risk appetite of the investor. Like many other concepts and practices in finance, portfo...

  6. La carpeta de aprendizaje: una innovación docente en la asignatura de Radiología y Medicina Física Especial The portfolio: an innovate educational project on the subject of Radiology and Special Physical Medicine

    Directory of Open Access Journals (Sweden)

    J.D. Berná

    2008-12-01

    Full Text Available Objetivo. Presentar una innovación docente desarrollada en la asignatura de Radiología y Medicina Física Especial durante el curso académico 2006-2007. Sujetos y métodos. Los alumnos realizaron una rotación durante dos semanas en los servicios de Radiodiagnóstico y Medicina Nuclear, en grupos pequeños. La metodología docente utilizada fue la carpeta de aprendizaje o portafolio. Se describen los aspectos fundamentales para la elaboración de la carpeta y de los casos clínicos, así como del sistema de evaluación. Dentro del ciclo de mejora continuada se llevó a cabo una encuesta de satisfacción. Resultados. Los resultados académicos obtenidos fueron excelentes. La mayoría de los alumnos consideraron que la asignatura fue interesante. También señalaron una valoración positiva de la rotación, de los seminarios y del sistema de evaluación. Asimismo, la opinión de los alumnos acerca de la experiencia docente realizada fue muy favorable. Conclusión. La satisfacción global de los alumnos ha sido muy alta con la metodología docente implantada en la asignatura.Aim. To introduce a learning innovation on the subject of Radiology and Special Physical Medicine along the academic year 2006/2007. Subjects and methods. Working in small groups, students carried out a two-week rotation in the departments of Radiology and Nuclear Medicine. The portfolio was the educational methodology used. The main aspects to elaborate the portfolio, the case reports, as well as the evaluation system are described. A satisfaction survey within the continuous improvement course was performed. Results. The academic results achieved were excellent. The subject was considered interesting by most of the students. A positive evaluation about the rotation made by the students, the seminaries and the evaluation system was made. Students’ opinion about the educational experience performed was also, very favourable. Conclusion. The educational methodology

  7. Manufacturing in the Eye of the Storm:Shen Hong and the Nine Great Installations Project During China's Cultural Revolution.

    Science.gov (United States)

    Sun, Lie; Hu, Danian

    2017-09-01

    The construction of nine high-end technical installations (hereafter Project NGI, for Nine Great Installations or ) in the 1960s and 1970s was an indispensable part of the development of China's defense and heavy industries. The project put more than 1400 machines into operation or trial operation during the Culture Revolution (1966-1976), and they served essential technical functions in sectors such as aviation, aerospace, machinery, metallurgy, and electronics, and directly advancing the development of these fields. It took more than a decade for Project NGI to go from planning to completion-a surprisingly uninterrupted and steady development while China fell into unprecedented turmoil. One important reason for Project NGI's success was the vital leadership of Shen Hong (, 1906-1998), the technical director of the project and a high-ranking official. Supported by state leaders such as Zhou Enlai and Nie Rongzhen, Shen and his colleagues adopted a suitable roadmap for technological development, coordinated the best-performing manufacturing forces in the country, and successfully manufactured the NGI machines. Project NGI is significant for the history of Chinese science, technology, and medicine during the Cultural Revolution not because it was technologically original, but because it represents an extraordinary case, in which the project's technological development seemed to be largely exempted from the interference of the turbulent Cultural Revolution. The project's national defense orientation, its pragmatism, and the contemporary dogma of self-reliance (), in addition to Shen Hong's political maneuvering, all contributed to the creation of a relatively calm and favorable environment around Project NGI. Despite the widespread turmoil in the country, Shen managed to assemble a stable and continuously productive team, which executed experiments, absorbed previously introduced Soviet technologies, stayed informed about advanced European and American technologies

  8. USING WEBGIS AND CLOUD TOOLS TO PROMOTE CULTURAL HERITAGE DISSEMINATION: THE HISTORIC UP PROJECT

    Directory of Open Access Journals (Sweden)

    A. Tommasi

    2017-05-01

    Full Text Available On the occasion of the First World War centennial, GeoSNav Lab (Geodesy and Satellite Navigation Laboratory, Department of Engineering and Architecture, University of Trieste, Italy, in coooperation with Radici&Futuro Association, Trieste, Italy, carried out an educational Project named “Historic Up” involving a group of students from “F. Petrarca” High School of Trieste, Italy. The main goal of the project is to make available to students of Middle and High Schools a set of historical and cultural contents in a simple and immediate way, through the production of a virtual and interactive tour following the event that caused the burst of the First World War: the assassination of Franz Ferdinand and his wife Sofia in Sarajevo occurred on June 28, 1914. A set of Google Apps was used, including Google Earth, Maps, Tour Builder, Street View, Gmail, Drive, and Docs. The Authors instructed the students about software and team-working and supported them along the research. After being checked, all the historical and geographic data have been uploaded on a Google Tour Builder to create a sequence of historical checkpoints. Each checkpoint has texts, pictures and videos that connect the tour-users to 1914. Moreover, GeoSNaV Lab researchers produced a KML (Keyhole Markup Language file, formed by several polylines and points, representing the itinerary of the funeral procession that has been superimposed on ad-hoc georeferenced historical maps. This tour, freely available online, starts with the arrival of the royals, on June 28th 1914, and follows the couple along the events, from the assassination to the burial in Arstetten (Austria, including their passages through Trieste (Italy, Ljubljana (Slovenia, Graz and Wien (Austria.

  9. Using Webgis and Cloud Tools to Promote Cultural Heritage Dissemination: the Historic up Project

    Science.gov (United States)

    Tommasi, A.; Cefalo, R.; Zardini, F.; Nicolaucig, M.

    2017-05-01

    On the occasion of the First World War centennial, GeoSNav Lab (Geodesy and Satellite Navigation Laboratory), Department of Engineering and Architecture, University of Trieste, Italy, in coooperation with Radici&Futuro Association, Trieste, Italy, carried out an educational Project named "Historic Up" involving a group of students from "F. Petrarca" High School of Trieste, Italy. The main goal of the project is to make available to students of Middle and High Schools a set of historical and cultural contents in a simple and immediate way, through the production of a virtual and interactive tour following the event that caused the burst of the First World War: the assassination of Franz Ferdinand and his wife Sofia in Sarajevo occurred on June 28, 1914. A set of Google Apps was used, including Google Earth, Maps, Tour Builder, Street View, Gmail, Drive, and Docs. The Authors instructed the students about software and team-working and supported them along the research. After being checked, all the historical and geographic data have been uploaded on a Google Tour Builder to create a sequence of historical checkpoints. Each checkpoint has texts, pictures and videos that connect the tour-users to 1914. Moreover, GeoSNaV Lab researchers produced a KML (Keyhole Markup Language) file, formed by several polylines and points, representing the itinerary of the funeral procession that has been superimposed on ad-hoc georeferenced historical maps. This tour, freely available online, starts with the arrival of the royals, on June 28th 1914, and follows the couple along the events, from the assassination to the burial in Arstetten (Austria), including their passages through Trieste (Italy), Ljubljana (Slovenia), Graz and Wien (Austria).

  10. Coast Guard Enterprise Project Management (CG-EPM)

    Data.gov (United States)

    Department of Homeland Security — CG-EPM provides the following capabilities: A Project Center, Portfolio Analysis Tools, Project Planning Tool, Web-based Project Plan Updater, Project Collaboration...

  11. Engaging cultural resources to promote mental health in Dutch LSES neighborhoods: study of a community-based participatory media project.

    Science.gov (United States)

    Knibbe, Mare; de Vries, Marten; Horstman, Klasien

    2017-06-01

    Community-based participatory media projects form a promising new strategy for mental health promotion that can help address the mental health-gap identified by the World Health Organization. (2008b) mhGAP, Mental Health Gap Action Programme: Scaling Up Care for Mental, Neurological and Substance Use Disorders. World Health Organization, Geneva. In this article we present an ethnographic study about a participatory media project that was developed to promote mental health in selected Dutch low socio-economic status neighborhoods. Through narrowcastings (group film viewings), participant observation and interviews we mapped the ways in which the media project effected and facilitated the collective sense-making process of the audience with regard to sources of stress impacting mental health and opportunities for action. These determinants of mental health are shaped by cultural dimensions, since the cultural context shapes everyday experiences of stress as well as the resources and skills to manage them. Our analysis shows that the media project engaged cultural resources to challenge stressful social scripts. We conclude that more attention should be paid to cultural narratives in a community to understand how health promotion strategies can support social resilience. © The Author 2015. Published by Oxford University Press. All rights reserved. For Permissions, please email: journals.permissions@oup.com.

  12. Dealing with Cultural Differences in Public-Private R&D Projects: The Experience of the Australian Seafood Sector

    NARCIS (Netherlands)

    Dentoni, D.; English, F.

    2012-01-01

    This essay 1) discusses the current agribusiness managers’ human capital problem of dealing with cultural differences in public-private Research & Development (R&D) projects involving firms, government agencies and universities and 2) proposes a “learning by doing” process for managers to

  13. 13 CFR 107.760 - How a change in size or activity of a Portfolio Concern affects the Licensee and the Portfolio...

    Science.gov (United States)

    2010-01-01

    ... of a Portfolio Concern affects the Licensee and the Portfolio Concern. 107.760 Section 107.760... § 107.760 How a change in size or activity of a Portfolio Concern affects the Licensee and the Portfolio Concern. (a) Effect on Licensee of a change in size of a Portfolio Concern. If a Portfolio Concern no...

  14. Effect of portfolio assessment on student learning in prenatal training for midwives.

    Science.gov (United States)

    Kariman, Nourossadat; Moafi, Farnoosh

    2011-01-01

    The tendency to use portfolios for evaluation has been developed with the aim of optimizing the culture of assessment. The present study was carried out to determine the effect of using portfolios as an evaluation method on midwifery students' learning and satisfaction in prenatal practical training. In this prospective cohort study, all midwifery students in semester four (n=40), were randomly allocated to portfolio and routine evaluation groups. Based on their educational goals, the portfolio groups prepared packages which consisted of a complete report of the history, physical examinations, and methods of patient management (as evaluated by a checklist) for women who visited a prenatal clinic. During the last day of their course, a posttest, clinical exam, and student satisfaction form were completed. The two groups' mean age, mean pretest scores, and their prerequisite course that they should have taken in the previous semester were similar. The mean difference in the pre and post test scores for the two groups' knowledge and comprehension levels did not differ significantly (P>0.05). The average scores on questions in Bloom's taxonomy 2 and 3 of the portfolio group were significantly greater than those of the routine evaluation group (P=0.002, P=0.03, respectively). The mean of the two groups' clinical exam scores was significantly different. The portfolio group's mean scores on generating diagnostic and therapeutic solutions and the ability to apply theory in practice were higher than those of the routine group. Overall, students' satisfaction scores in the two evaluation methods were relatively similar. Portfolio evaluation provides the opportunity for more learning by increasing the student's participation in the learning process and helping them to apply theory in practice.

  15. Services in support of promoting territorial tourism and culture: the living lab project EPULIA

    Directory of Open Access Journals (Sweden)

    Domenica Suma

    2014-12-01

    Full Text Available The project “Enjoy Puglia using Ubiquitous technology in Landscape Interactive Adventures” (EPULIA is aimed at the development of a platform populated by innovative and technological applications in which users can enjoy entertainment and educational contents in an interactive way, by means of multimedia and mobile technology. The platform, through the support of the skills of SMEs (LifeResult, Info.Sist and Cedimpresa and the Research Laboratory (Consortium CETMA in terms of research and experimentation, aims to provide services for supporting the promotion of the cultural tourism of Apulia, and provides information and contents of interest for tourists, including routes and itineraries, with the definition of real interactive and geo-referenced maps and information on available accommodation. The platform will provide tourists with added value in information retrieval: using modern devices, equipped with GPS, the multi-channel services will offer and unify contents that might otherwise be disseminated using Internet sites and portals.

  16. Cultural-resource survey report: Hoover Dam Powerplant Modification Project II. Associated transmission-line facility

    International Nuclear Information System (INIS)

    Queen, R.L.

    1991-06-01

    The Bureau of Reclamation (Reclamation) is proposing to modify or install additional transmission facilities between the Hoover Dam hydroelectric plant and the Western Area Power Authority substation near Boulder City, Nevada. Reclamation has completed cultural resource investigations to identify historic or prehistoric resources in the project area that might be affected during construction of the transmission line. Four possible transmission corridors approximately 50 feet wide and between 9.5 and 11.5 miles long were investigated. The proposed transmission lines either parallel or replace existing transmission lines. The corridors generally have undergone significant disturbance from past transmission line construction. A Class II sampling survey covering approximately 242 acres was conducted. Access or construction roads have not been identified and surveys of these areas will have to be completed in the future. No historic or prehistoric archeological sites were encountered within the four corridor right-of-ways. It is believed that the probability for prehistoric sites is very low. Four historic period sites were recorded that are outside, but near, the proposed corridor. These sites are not individually eligible for the National Register of Historic Places, but may be associated with the construction of Hoover Dam and contribute to a historic district or multiple property resource area focusing on the dam and its construction

  17. THE PAN AFRICAN E-NETWORK PROJECT: A New Learning Culture

    Directory of Open Access Journals (Sweden)

    Nundoo-Ghoorah SUNITI

    2012-07-01

    Full Text Available This paper sets out to explore the paradigm shift in learning culture brought about by the advent of online learning in the mostly print-based ODL system at the Mauritius College of the Air (MCA. It delves into the perceptions of learners and MCA staff involved in a range of undergraduate to Master’s programmes forming part of the Pan African e- Network Project that wires 23 African countries with top-ranking Indian universities through synchronous and interactive state of the art technology. Learners across five of the disciplines offered through tele-learning and a team of MCA staff participating in programme delivery were surveyed through questionnaires and interviews to collect both quantitative and qualitative data. For most of the respondents this new learning ethos has induced an acculturation process requiring radical reconceptualisation of prior notions about teaching/learning. MCA staff, too, have had to learn conducive behavior patterns to consolidate existing support services. Survival in this new learning environment where the tutor is a remote on-screen entity, where e-books replace printed material, where connectivity can be a daily struggle, demands another mindset, another set of values enabling learning and fine-tuned ICT skills. Socialisation with tutors and fellow learners is possible through links in Facebook and Twitter. However, learners still tend to feel somewhat isolated. It is proposed that an e-platform be set up to link up learners as a mutually supportive learning community engaged in the construction of knowledge.

  18. E-portfolios in lifelong learning

    NARCIS (Netherlands)

    Brouns, Francis; Vogten, Hubert; Janssen, José; Finders, Anton

    2013-01-01

    Brouns, F., Vogten, H., Janssen, J., & Finders, A. (2013, 14-15 November). E-portfolios in lifelong learning. Presentation given at the 2013 Conference on Technological Ecosystems for Enhancing Multiculturality, TEEM2013, Salamanca, Spain.

  19. Optimal diversification of the securities portfolio

    Directory of Open Access Journals (Sweden)

    Валентина Михайловна Андриенко

    2016-09-01

    Full Text Available The article deals with problems of the theory and methods of forming the optimal portfolio of financial markets. The analytical review of methods in their historical development is given. Recommendations on the use of a particular method depends on the specific conditions are formulated. The classical and alternative methods are considered. The main attention is paid to the analysis of the investment portfolio of derivative securities in B/S-market modelThe article deals with problems of the theory and methods of forming the optimal portfolio of financial markets. The analytical review of methods in their historical development is given. Recommendations on the use of a particular method depends on the specific conditions are formulated. The classical and alternative methods are considered. The main attention is paid to the analysis of the investment portfolio of derivative securities in -market model

  20. Active Multifamily Portfolio-Property Level data

    Data.gov (United States)

    Department of Housing and Urban Development — Multifamily Portfolio datasets (section 8 contracts) - The information has been compiled from multiple data sources within FHA or its contractors. HUD oversees more...

  1. ROMANIAN INVESTORS PORTFOLIO. ONLINE VERSUS ASSISTED TRADING

    Directory of Open Access Journals (Sweden)

    Ioana Ancuţa IANCU

    2017-05-01

    Full Text Available One of the most important aspects in deciding to trade online, alone, without the help of a broker, is the portfolio profitability. In this study, using the personal experience, survey data and secondary sources, we identify some factors that may influence the gain and the loss of investors which trade online. Our study contradicts other results from literature that claim that the transition from assisted to online trading is a big drawback in terms of portfolio profitability. By analyzing the performance of the portfolio when passing from assisted to online trading, we observe that half of the investors achieved identical profitability. We also observed that the efficiency of the portfolios belonging to the online investors that were assisted in the past by a broker for a short period, is lower compared to the ones assisted (in the past for a longer period.

  2. Strategic management of government-sponsored R&D portfolios

    OpenAIRE

    Barry Bozeman; Juan Rogers

    2001-01-01

    Although strategic management of R&D portfolios is common practice in private sector R&D, government R&D management tends to be more discrete and ad hoc, focusing on generating maximum output from individual projects. Often, there is no clear notion of the desired public sector output. Whereas private sector R&D evaluation is generally straightforward, with the function of R&D being measured in terms of a company's internal return on investment, the benefits of public-sponsored R&D tend to be...

  3. Evolution of materials research within the AINSE portfolio

    International Nuclear Information System (INIS)

    Jostsons, A.

    1998-01-01

    Full text: The main materials research interactions between ANSTO/AAEC and the AINSE member universities are reviewed and linked to the main thrust of contemporary ANSTO/AAEC programs. The AINSE portfolio encompasses the previous AAEC research contracts, which represent an earlier example of public sector outsourcing, until re-discovered during the present decade, as well as AINSE studentships and Research and Training Projects. Collectively these mechanisms did much to foster the maintenance of effective materials research teams in Australian universities. Selective examples will illustrate the success of the AINSE family in training to help provide engineers and scientists of high ability for the future

  4. Managing sovereign credit risk in bond portfolios

    OpenAIRE

    Bruder, Benjamin; Hereil, Pierre; Roncalli, Thierry

    2011-01-01

    With the recent development of the European debt crisis, traditional index bond management has been severely called into question. We focus here on the risk issues raised by the classical market-capitalization weighting scheme. We propose an approach to properly measure sovereign credit risk in a fixed-income portfolio. For that, we assume that CDS spreads follow a SABR process and we derive a sovereign credit risk measure based on CDS spreads and duration of portfolio bonds. We then consider...

  5. Online Learning of Commission Avoidant Portfolio Ensembles

    OpenAIRE

    Uziel, Guy; El-Yaniv, Ran

    2016-01-01

    We present a novel online ensemble learning strategy for portfolio selection. The new strategy controls and exploits any set of commission-oblivious portfolio selection algorithms. The strategy handles transaction costs using a novel commission avoidance mechanism. We prove a logarithmic regret bound for our strategy with respect to optimal mixtures of the base algorithms. Numerical examples validate the viability of our method and show significant improvement over the state-of-the-art.

  6. Subjective Life Horizon and Portfolio Choice

    OpenAIRE

    Spaenjers , Christophe; Spira, Sven Michael

    2013-01-01

    Using data from a U.S. household survey, we examine the empirical relation between subjective life horizon (i.e., the self-reported expectation of remaining life span) and portfolio choice. We find that equity portfolio shares are higher for investors with longer horizons, ceteris paribus, in line with theoretical predictions. This result is robust to controlling for optimism and health status, accounting for the endogeneity of equity market participation, or instrumenting subjective life hor...

  7. Portfolio Selection with Jumps under Regime Switching

    Directory of Open Access Journals (Sweden)

    Lin Zhao

    2010-01-01

    Full Text Available We investigate a continuous-time version of the mean-variance portfolio selection model with jumps under regime switching. The portfolio selection is proposed and analyzed for a market consisting of one bank account and multiple stocks. The random regime switching is assumed to be independent of the underlying Brownian motion and jump processes. A Markov chain modulated diffusion formulation is employed to model the problem.

  8. Equity Portfolio Management Using Option Price Information

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    We survey the recent academic literature that uses option-implied information to construct equity portfolios. Studies show that equity managers can earn a positive alpha by using information in individual equity options, by using stocks' exposure to information in market index options, and by using...... stocks' exposure to crude oil option information. Option-implied information can also help construct better mean-variance portfolios and better estimates of market beta....

  9. Systemic risk contributions: a credit portfolio approach

    OpenAIRE

    Düllmann, Klaus; Puzanova, Natalia

    2011-01-01

    We put forward a Merton-type multi-factor portfolio model for assessing banks' contributions to systemic risk. This model accounts for the major drivers of banks' systemic relevance: size, default risk and correlation of banks' assets as a proxy for interconnectedness. We measure systemic risk in terms of the portfolio expected shortfall (ES). Banks' (marginal) risk contributions are calculated based on partial derivatives of the ES in order to ensure a full risk allocation among institutions...

  10. Essays on portfolio choice with Bayesian methods

    OpenAIRE

    Kebabci, Deniz

    2007-01-01

    How investors should allocate assets to their portfolios in the presence of predictable components in asset returns is a question of great importance in finance. While early studies took the return generating process as given, recent studies have addressed issues such as parameter estimation and model uncertainty. My dissertation develops Bayesian methods for portfolio choice - and industry allocation in particular - under parameter and model uncertainty. The first chapter of my dissertation,...

  11. Optimal annuity portfolio under inflation risk

    DEFF Research Database (Denmark)

    Konicz, Agnieszka Karolina; Pisinger, David; Weissensteiner, Alex

    2015-01-01

    The paper investigates the importance of in ation-linked annuities to individuals facing in ation risk. Given the investment opportunities in nominal, real, and variable annuities, as well as cash and stocks, we investigate the consumption and investment decisions under two different objective fu...... and risk aversion, real annuities are a crucial asset in every portfolio. In addition, without investing in real annuities, the retiree has to rebalance the portfolio more frequently, and still obtains the lower and more volatile real consumption....

  12. Reinforcement Learning in Repeated Portfolio Decisions

    OpenAIRE

    Diao, Linan; Rieskamp, Jörg

    2011-01-01

    How do people make investment decisions when they receive outcome feedback? We examined how well the standard mean-variance model and two reinforcement models predict people's portfolio decisions. The basic reinforcement model predicts a learning process that relies solely on the portfolio's overall return, whereas the proposed extended reinforcement model also takes the risk and covariance of the investments into account. The experimental results illustrate that people reacted sensitively to...

  13. Testing for structural changes in large portfolios

    OpenAIRE

    Posch, Peter N.; Ullmann, Daniel; Wied, Dominik

    2015-01-01

    Model free tests for constant parameters often fail to detect structural changes in high dimensions. In practice, this corresponds to a portfolio with many assets and a reasonable long time series. We reduce the dimensionality of the problem by looking a compressed panel of time series obtained by cluster analysis and the principal components of the data. Using our methodology we are able to extend a test for a constant correlation matrix from a sub portfolio to whole indices a...

  14. Opening up the solar box: Cultural resource management and actor network theory in solar energy projects in the Mojave Desert

    Science.gov (United States)

    Gorrie, Bryan F.

    This project considers the ways that Actor-Network Theory (ANT) can be brought to bear upon Cultural Resource Management (CRM) practices on renewable energy projects. ANT is a way of making inquiry into scientific knowledge practices and as CRM is intended to preserve environmental, historic, and prehistoric resources, it necessarily involves certain kinds of knowledge generation about regions in which projects are being developed. Because the practice of CRM is complex, involving a range of actors from developers to biologists, native peoples to academics, private landholders to environmental and cultural activists, it is imperative to account for the interests of all stakeholders and to resist devolving into the polemical relations of winners and losers, good and bad participants, or simple situations of right and wrong. This project intends to account for the "matters of concern" of various actors, both primary and secondary, by examining the case study of a single solar installation project in the Mojave Desert. A theoretical description of ANT is provided at the beginning and the concerns of this theory are brought to bear upon the case study project through describing the project, discussing the laws governing CRM on federal lands and in the state of California, and providing the points of view of various interviewees who worked directly or indirectly on various aspects of CRM for the solar project. The creators of ANT claim that it is not a methodology but it does speak to ethnomethodologies in that it insists that there is always something more to learn from inquiring into and describing any given situation. These descriptions avoid generalizations, providing instead various points of entry, from diverse perspectives to the project. There is an invitation to avoid assuming that one knows all there is to know about a given situation and to choose instead to continue investigating and thus give voice to the more obscure, often marginalized, voices in the

  15. THE MAIN PROBLEMS OF THE STUDENTS’ ELECTRONIC PORTFOLIO FORMATION IN TERMS OF THE HIGHER EDUCATIONAL PROGRAMS

    Directory of Open Access Journals (Sweden)

    Yulia V. Dementieva

    2016-01-01

    Full Text Available The aim of the study is the description of the main problems of formation of the student’s electronic portfolio in the conditions of realization of Federal State Educational Standards of the Higher Education (FSES of HE.Methods.Theoretical analysis of scientific literature concerning the subject under discussion; monitoring of existing practices in modern Russian Universities procedures for the formation and maintenance of students electronic portfolio.Results. The author describes the main problems of the electronic students’ portfolio formation; some ways of solving described problems are offered.Scientific novelty concludes in the formation of key ideas of the electronic students’ portfolio based on the understanding of requirements of Federal State Educational Standards of Higher Education for the results of mastering educational programs. They are the formation of general cultural, general professional and professional competences.Practical significance. The researching results will become the theoretical basis for the systematic organization of the process of creating and maintaining an electronic students’ portfolio during the whole period of their studying at the university; the researching results can become a basis for methodological developments.

  16. Journal portfolio analysis for countries, cities, and organizations: Maps and comparisons

    NARCIS (Netherlands)

    Leydesdorff, L.; Heimeriks, G.; Rotolo, D.

    Using Web of Science data, portfolio analysis in terms of journal coverage can be projected onto a base map for units of analysis such as countries, cities, universities, and firms. The units of analysis under study can be compared statistically across the 10,000+ journals. The interdisciplinarity

  17. BBN-Based Portfolio Risk Assessment for NASA Technology R&D Outcome

    Science.gov (United States)

    Geuther, Steven C.; Shih, Ann T.

    2016-01-01

    The NASA Aeronautics Research Mission Directorate (ARMD) vision falls into six strategic thrusts that are aimed to support the challenges of the Next Generation Air Transportation System (NextGen). In order to achieve the goals of the ARMD vision, the Airspace Operations and Safety Program (AOSP) is committed to developing and delivering new technologies. To meet the dual challenges of constrained resources and timely technology delivery, program portfolio risk assessment is critical for communication and decision-making. This paper describes how Bayesian Belief Network (BBN) is applied to assess the probability of a technology meeting the expected outcome. The network takes into account the different risk factors of technology development and implementation phases. The use of BBNs allows for all technologies of projects in a program portfolio to be separately examined and compared. In addition, the technology interaction effects are modeled through the application of object-oriented BBNs. The paper discusses the development of simplified project risk BBNs and presents various risk results. The results presented include the probability of project risks not meeting success criteria, the risk drivers under uncertainty via sensitivity analysis, and what-if analysis. Finally, the paper shows how program portfolio risk can be assessed using risk results from BBNs of projects in the portfolio.

  18. An empirical analysis of the hydropower portfolio in Pakistan

    International Nuclear Information System (INIS)

    Siddiqi, Afreen; Wescoat, James L.; Humair, Salal; Afridi, Khurram

    2012-01-01

    The Indus Basin of Pakistan with 800 hydropower project sites and a feasible hydropower potential of 60 GW, 89% of which is undeveloped, is a complex system poised for large-scale changes in the future. Motivated by the need to understand future impacts of hydropower alternatives, this study conducted a multi-dimensional, empirical analysis of the full hydropower portfolio. The results show that the full portfolio spans multiple scales of capacity from mega (>1000 MW) to micro (<0.1 MW) projects with a skewed spatial distribution within the provinces, as well as among rivers and canals. Of the total feasible potential, 76% lies in two (out of six) administrative regions and 68% lies in two major rivers (out of more than 125 total channels). Once projects currently under implementation are commissioned, there would be a five-fold increase from a current installed capacity of 6720 MW to 36759 MW. It is recommended that the implementation and design decisions should carefully include spatial distribution and environmental considerations upfront. Furthermore, uncertainties in actual energy generation, and broader hydrological risks due to expected climate change effects should be included in the current planning of these systems that are to provide service over several decades into the future. - Highlights: ► Pakistan has a hydropower potential of 60 GW distributed across 800 projects. ► Under-development projects will realize 36.7 GW of this potential by 2030. ► Project locations are skewed towards some sub-basins and provinces. ► Project sizes are very diverse and have quite limited private sector ownership. ► Gaps in data prevent proper risk assessment for Pakistan's hydropower development.

  19. Conceptualizing the cross-cultural gaps in managing international aid: HIV/AIDS and TB project delivery in Southern Africa.

    Science.gov (United States)

    Jackson, Terence

    2011-01-01

    There appears to be a gap between the billions of dollars inputted into fighting HIV/AIDS and TB and outcomes. This in part can be attributed to the lack of attention in International Development to managing programmes and projects within complex levels of cross-cultural interactions. International Development often ignores management issues, yet Management Studies is left wanting through a lack of engagement with development issues including the fight against disease and poverty. This paper attempts to link these two disciplines towards mutual benefit, through a critical cross-cultural approach. It provides contextualization of international development policies/strategies; conceptualization of dominant paradigms; structural analysis of how a programme/project fits into the global governance structure; analysis of complexities and levels of cross-cultural interaction and their consequences and the process and implications of knowledge transfer across cultural distances. It concludes with implications for policy and practice, as well as what is needed from cross-disciplinary research. This includes how feedback loops can be strengthened from local to global, how indigenous knowledge may be better understood and integrated, how power relations within the global governance structure could be managed, how cross-cultural interaction could be better understood, and how knowledge transfer/sharing should be critically managed. Copyright © 2010 John Wiley & Sons, Ltd.

  20. Optimization of China's generating portfolio and policy implications based on portfolio theory

    International Nuclear Information System (INIS)

    Zhu, Lei; Fan, Ying

    2010-01-01

    This paper applies portfolio theory to evaluate China's 2020-medium-term plans for generating technologies and its generating portfolio. With reference to the risk of relevant generating-cost streams, the paper discusses China's future development of efficient (Pareto optimal) generating portfolios that enhance energy security in different scenarios, including CO 2 -emission-constrained scenarios. This research has found that the future adjustment of China's planned 2020 generating portfolio can reduce the portfolio's cost risk through appropriate diversification of generating technologies, but a price will be paid in the form of increased generating cost. In the CO 2 -emission-constrained scenarios, the generating-cost risk of China's planned 2020 portfolio is even greater than that of the 2005 portfolio, but increasing the proportion of nuclear power in the generating portfolio can reduce the cost risk effectively. For renewable-power generation, because of relatively high generating costs, it will be necessary to obtain stronger policy support to promote renewable-power development.

  1. Validity of the Learning Portfolio: Analysis of a Portfolio Proposal for the University

    Science.gov (United States)

    Gregori-Giralt, Eva; Menéndez-Varela, José Luis

    2015-01-01

    Validity is a central issue in portfolio-based assessment. This empirical study used a quantitative approach to analyse the validity of the inferences drawn from a disciplinary course work portfolio assessment comprising profession-specific and learning competencies. The study also examined the problems involved in the development of the…

  2. Cross-Cultural Collaboration as Community Growth and Integration: Children’s Music Projects in Bosnia-Herzegovina and Scotland

    Directory of Open Access Journals (Sweden)

    Hannah Linklater

    2012-01-01

    Full Text Available This paper constitutes a reflective account of inclusive approaches in two children’s music projects, both aiming to foster group creativityalongside cross-cultural awareness and understanding. The first of these projects involved sharing songs composed by children and youngpeople from a special needs school in Mostar, Bosnia-Herzegovina, with a primary school choir in Edinburgh, Scotland. The second project, inSarajevo, Bosnia-Herzegovina, focused on group song-writing and performance involving three groups of children from ethnically separated schools, alongside a choir from a school for children with visual impairments. On reflection, we discuss cross-cultural musical collaboration as an effective means of bringing children togetheracross social and cultural divides in order to share new experiences while building respect for differences. We hope projects such as these may represent the first step towards the ultimate goal of encouraging and nurturing more inclusive friendships between children who might not otherwise have opportunities to interact with each other.

  3. Cultural planning and Chaos Theory in Cyberspace: some notes on a Digital Cultural Atlas Project for Western Sydney

    Directory of Open Access Journals (Sweden)

    Elaine Lally

    2006-01-01

    Full Text Available This article explores the intersection between digital technologies and cultural planning. New information technologies ought to enable more powerful planning strategies. Yet a common seductive vision of planning is mirrored by utopian claims for cyberculture, which often fall short of the hoped-for reality. We suggest that one problem is the linear thinking common to mainstream planning and digital thinking, which leads to a cumulative lack of fit with the non-linear (chaotic world of social action. We draw on chaos and complexity theory to reframe planning problems and develop more creative digital strategies in a specific location, Western Sydney, using and adapting Geographic Information Systems.

  4. Anomalies and contradictions in an airport construction project: a historical analysis based on Cultural-Historical Activity Theory.

    Science.gov (United States)

    Lopes, Manoela Gomes Reis; Vilela, Rodolfo Andrade de Gouveia; Querol, Marco Antônio Pereira

    2018-02-19

    Large construction projects involve the functioning of a complex activity system (AS) in network format. Anomalies such as accidents, delays, reworks, etc., can be explained by contradictions that emerge historically in the system. The aim of this study was to analyze the history of an airport construction project to understand the current contradictions and anomalies in the AS and how they emerged. A case study was conducted for this purpose, combining Collective Work Analysis, interviews, observations, and analysis of documents that provided the basis for sessions in the Change Laboratory, where a participant timeline was elaborated with the principal events during the construction project. Based on the timeline, a historical analysis of the airport's AS revealed critical historical events and contradictions that explained the anomalies that occurred during the project. The analysis showed that the airport had been planned for construction with politically determined deadlines that were insufficient and inconsistent with the project's complexity. The choice of the contract modality, which assigned responsibility to a joint venture for all of the project's phases, was another critical historical event, because it allowed launching the construction before a definitive executive project had been drafted. There were also different cultures in companies working together for the first time in the context of a project with time pressures and outsourcing of activities without the necessary coordination. Identifying these contradictions and their historical origins proved essential for understanding the current situation and efforts to prevent similar situations in the future.

  5. Decision-support tool for assessing future nuclear reactor generation portfolios

    International Nuclear Information System (INIS)

    Jain, Shashi; Roelofs, Ferry; Oosterlee, Cornelis W.

    2014-01-01

    Capital costs, fuel, operation and maintenance (O and M) costs, and electricity prices play a key role in the economics of nuclear power plants. Often standardized reactor designs are required to be locally adapted, which often impacts the project plans and the supply chain. It then becomes difficult to ascertain how these changes will eventually reflect in costs, which makes the capital costs component of nuclear power plants uncertain. Different nuclear reactor types compete economically by having either lower and less uncertain construction costs, increased efficiencies, lower and less uncertain fuel cycles and O and M costs etc. The decision making process related to nuclear power plants requires a holistic approach that takes into account the key economic factors and their uncertainties. We here present a decision-support tool that satisfactorily takes into account the major uncertainties in the cost elements of a nuclear power plant, to provide an optimal portfolio of nuclear reactors. The portfolio so obtained, under our model assumptions and the constraints considered, maximizes the combined returns for a given level of risk or uncertainty. These decisions are made using a combination of real option theory and mean–variance portfolio optimization. - Highlights: • Decisions to continue or abandon the construction of NPPs • Mean–variance portfolio of nuclear reactors • Sensitivity study of mean–variance portfolio of nuclear reactors

  6. The difference between LSMC and replicating portfolio in insurance liability modeling.

    Science.gov (United States)

    Pelsser, Antoon; Schweizer, Janina

    2016-01-01

    Solvency II requires insurers to calculate the 1-year value at risk of their balance sheet. This involves the valuation of the balance sheet in 1 year's time. As for insurance liabilities, closed-form solutions to their value are generally not available, insurers turn to estimation procedures. While pure Monte Carlo simulation set-ups are theoretically sound, they are often infeasible in practice. Therefore, approximation methods are exploited. Among these, least squares Monte Carlo (LSMC) and portfolio replication are prominent and widely applied in practice. In this paper, we show that, while both are variants of regression-based Monte Carlo methods, they differ in one significant aspect. While the replicating portfolio approach only contains an approximation error, which converges to zero in the limit, in LSMC a projection error is additionally present, which cannot be eliminated. It is revealed that the replicating portfolio technique enjoys numerous advantages and is therefore an attractive model choice.

  7. Ant colony algorithm for clustering in portfolio optimization

    Science.gov (United States)

    Subekti, R.; Sari, E. R.; Kusumawati, R.

    2018-03-01

    This research aims to describe portfolio optimization using clustering methods with ant colony approach. Two stock portfolios of LQ45 Indonesia is proposed based on the cluster results obtained from ant colony optimization (ACO). The first portfolio consists of assets with ant colony displacement opportunities beyond the defined probability limits of the researcher, where the weight of each asset is determined by mean-variance method. The second portfolio consists of two assets with the assumption that each asset is a cluster formed from ACO. The first portfolio has a better performance compared to the second portfolio seen from the Sharpe index.

  8. RISK MANAGEMENT OF INVESTMENT PORTFOLIO BY FUTURE

    Directory of Open Access Journals (Sweden)

    K. Kerimov Alexandr

    2017-01-01

    Full Text Available The article considers the problem of the dynamic risk management of the investment portfolio using future con- tracts. The management starts with the concept of effective inhomogeneous portfolios, which contain futures together with underlying asserts. The effective portfolios are defined as the ones of the minimal dispersion with the expected return greater or equal to the specified value. Risk is measured by the probability of losing of a certain part of the portfolio value. The control parameters are the number of futures for each asset of portfolio, which is defined from the condition of effec- tiveness of portfolio and risk acceptability on each step.The effective adaptive strategies of portfolio risk management together with comparative analysis on a concrete example are presented. The proposed approach provides the forecast correction of the expected income and its variance for the assets with the emergence of new data. The financial time series are determined by volatility clustering, i.e. relative or absolute price changes tend to keep high or low magnitude for some time, with the result that clusters are created - periods of high or low volatility. Then adaptive estimate of correlational relationships between asset prices are essential because the degree of correlational relationship also changes in time. So the correlation of future and spot price changes considerably increases while approaching to performance of contracts. For taking into account of data instability of dispersion and correlation simple methods of volatility forecasting and correlation of relative changes of price data based on exponential smoothing are implemented.

  9. Exploring the role of assessment criteria during teachers' collaborative judgement processes of students' portfolios

    NARCIS (Netherlands)

    Schaaf, van der M.F.; Baartman, L.K.J.; Prins, F.J.

    2012-01-01

    Student portfolios are increasingly used for assessing student competences in higher education, but results about the construct validity of portfolio assessment are mixed. A prerequisite for construct validity is that the portfolio assessment is based on relevant portfolio content. Assessment

  10. Rapid application design of an electronic clinical skills portfolio for undergraduate medical students.

    Science.gov (United States)

    Dornan, Tim; Lee, Catherine; Stopford, Adam; Hosie, Liam; Maredia, Neil; Rector, Alan

    2005-04-01

    The aim was to find how to use information and communication technology to present the clinical skills content of an undergraduate medical curriculum. Rapid application design was used to develop the product, and technical action research was used to evaluate the development process. A clinician-educator, two medical students, two computing science masters students, two other project workers, and a hospital education informatics lead, formed a design team. A sample of stakeholders took part in requirements planning workshops and continued to advise the team throughout the project. A university hospital had many features that favoured fast, inexpensive, and successful system development: a clearly defined and readily accessible user group; location of the development process close to end-users; fast, informal communication; leadership by highly motivated and senior end-users; devolved authority and lack of any rigidly imposed management structure; cooperation of clinicians because the project drew on their clinical expertise to achieve scholastic goals; a culture of learning and involvement of highly motivated students. A detailed specification was developed through storyboarding, use case diagramming, and evolutionary prototyping. A very usable working product was developed within weeks. "SkillsBase" is a database web application using Microsoft Active Server Pages, served from a Microsoft Windows 2000 Server operating system running Internet Information Server 5.0. Graphing functionality is provided by the KavaChart applet. It presents the skills curriculum, provides a password-protected portfolio function, and offers training materials. The curriculum can be presented in several different ways to help students reflect on their objectives and progress towards achieving them. The reflective portfolio function is entirely private to each student user and allows them to document their progress in attaining skills, as judged by self, peer and tutor assessment, and

  11. Safety Culture in Pre-operational Phases of Nuclear Power Plant Projects

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-15

    An abundance of information exists on safety culture related to the operational phases of nuclear power plants; however, pre-operational phases present unique challenges. This publication focuses on safety culture during pre-operational phases that span the interval from before a decision to launch a nuclear power programme to first fuel load. It provides safety culture insights and focuses on eight generic issues: safety culture understanding; multicultural aspects; leadership; competencies and resource competition; management systems; learning and feedback; cultural assessments; and communication. Each issue is discussed in terms of: specific challenges; desired state; approaches and methods; and examples and resources. This publication will be of interest to newcomers and experienced individuals faced with the opportunities and challenges inherent in safety culture programmes aimed at pre-operational activities.

  12. Safety Culture in Pre-operational Phases of Nuclear Power Plant Projects

    International Nuclear Information System (INIS)

    2012-01-01

    An abundance of information exists on safety culture related to the operational phases of nuclear power plants; however, pre-operational phases present unique challenges. This publication focuses on safety culture during pre-operational phases that span the interval from before a decision to launch a nuclear power programme to first fuel load. It provides safety culture insights and focuses on eight generic issues: safety culture understanding; multicultural aspects; leadership; competencies and resource competition; management systems; learning and feedback; cultural assessments; and communication. Each issue is discussed in terms of: specific challenges; desired state; approaches and methods; and examples and resources. This publication will be of interest to newcomers and experienced individuals faced with the opportunities and challenges inherent in safety culture programmes aimed at pre-operational activities.

  13. Rethinking participation in the Aarhus as European Capital of Culture 2017 project

    DEFF Research Database (Denmark)

    Jancovich, Leila; Hansen, Louise Ejgod

    2018-01-01

    and exhibitions. In addition, it aspired to use culture as a catalyst for development not only in the city of Aarhus but across the region of Central Denmark. This paper, therefore, examines how participation is defined and implemented to address regional development in the Aarhus 2017 process through textual......This paper examines the relationship between cultural participation and regional development with reference to the European Capital of Culture in 2017. From the bidding stage, Aarhus 2017 claimed it put “participation” at the heart of its strategic plans, through consultation at roadshows...... cultural provision that supports both amateurs and professionals through a regional networked structure....

  14. Rethinking Participation in the Aarhus as European Capital of Culture 2017-project

    DEFF Research Database (Denmark)

    Hansen, Louise Ejgod; Jancovich, Leila

    and exhibitions. In addition it aspired to use culture as a catalyst for development not only in the city of Aarhus but across the region of Central Denmark. This paper therefore examines how participation is defined and implemented to address regional development in the Aarhus 2017 process through textual......This paper examines the relationship between cultural participation and regional development with reference to the European Capital of Culture in 2017. From the bidding stage Aarhus 2017 claimed it put “participation” at the heart of its strategic plans, through consultation at roadshows...... cultural provision, that supports both amateurs and professionals through a regional networked structure....

  15. Financing translation: analysis of the NCATS rare-diseases portfolio.

    Science.gov (United States)

    Fagnan, David E; Yang, N Nora; McKew, John C; Lo, Andrew W

    2015-02-25

    The portfolio of the National Center for Advancing Translational Sciences (NCATS) rare-diseases therapeutic development program comprises 28 research projects initiated at the preclinical stage. Historical data reveal substantially lower costs and higher success rates but longer preclinical timelines for the NCATS projects relative to the industry averages for early-stage translational medical research and development (R&D) typically cited in literature. Here, we evaluate the potential risks and rewards of investing in a portfolio of rare-disease therapeutics. Using a "megafund" financing structure, NCATS data, and valuation estimates from a panel of industry experts, we simulate a hypothetical megafund in which senior and junior debt yielded 5 and 8%, respectively. The simulated expected return to equity was 14.7%, corresponding to a modified internal rate of return of 21.6%. These returns and the likelihood of private-sector funding can be enhanced through third-party funding guarantees from philanthropies, patient advocacy groups, and government agencies. Copyright © 2015, American Association for the Advancement of Science.

  16. Performance of salmon fishery portfolios across western North America.

    Science.gov (United States)

    Griffiths, Jennifer R; Schindler, Daniel E; Armstrong, Jonathan B; Scheuerell, Mark D; Whited, Diane C; Clark, Robert A; Hilborn, Ray; Holt, Carrie A; Lindley, Steven T; Stanford, Jack A; Volk, Eric C

    2014-12-01

    Quantifying the variability in the delivery of ecosystem services across the landscape can be used to set appropriate management targets, evaluate resilience and target conservation efforts. Ecosystem functions and services may exhibit portfolio-type dynamics, whereby diversity within lower levels promotes stability at more aggregated levels. Portfolio theory provides a framework to characterize the relative performance among ecosystems and the processes that drive differences in performance. We assessed Pacific salmon Oncorhynchus spp. portfolio performance across their native latitudinal range focusing on the reliability of salmon returns as a metric with which to assess the function of salmon ecosystems and their services to humans. We used the Sharpe ratio (e.g. the size of the total salmon return to the portfolio relative to its variability (risk)) to evaluate the performance of Chinook and sockeye salmon portfolios across the west coast of North America. We evaluated the effects on portfolio performance from the variance of and covariance among salmon returns within each portfolio, and the association between portfolio performance and watershed attributes. We found a positive latitudinal trend in the risk-adjusted performance of Chinook and sockeye salmon portfolios that also correlated negatively with anthropogenic impact on watersheds (e.g. dams and land-use change). High-latitude Chinook salmon portfolios were on average 2·5 times more reliable, and their portfolio risk was mainly due to low variance in the individual assets. Sockeye salmon portfolios were also more reliable at higher latitudes, but sources of risk varied among the highest performing portfolios. Synthesis and applications . Portfolio theory provides a straightforward method for characterizing the resilience of salmon ecosystems and their services. Natural variability in portfolio performance among undeveloped watersheds provides a benchmark for restoration efforts. Locally and regionally

  17. Performance of salmon fishery portfolios across western North America

    Science.gov (United States)

    Griffiths, Jennifer R; Schindler, Daniel E; Armstrong, Jonathan B; Scheuerell, Mark D; Whited, Diane C; Clark, Robert A; Hilborn, Ray; Holt, Carrie A; Lindley, Steven T; Stanford, Jack A; Volk, Eric C

    2014-01-01

    Quantifying the variability in the delivery of ecosystem services across the landscape can be used to set appropriate management targets, evaluate resilience and target conservation efforts. Ecosystem functions and services may exhibit portfolio-type dynamics, whereby diversity within lower levels promotes stability at more aggregated levels. Portfolio theory provides a framework to characterize the relative performance among ecosystems and the processes that drive differences in performance. We assessed Pacific salmon Oncorhynchus spp. portfolio performance across their native latitudinal range focusing on the reliability of salmon returns as a metric with which to assess the function of salmon ecosystems and their services to humans. We used the Sharpe ratio (e.g. the size of the total salmon return to the portfolio relative to its variability (risk)) to evaluate the performance of Chinook and sockeye salmon portfolios across the west coast of North America. We evaluated the effects on portfolio performance from the variance of and covariance among salmon returns within each portfolio, and the association between portfolio performance and watershed attributes. We found a positive latitudinal trend in the risk-adjusted performance of Chinook and sockeye salmon portfolios that also correlated negatively with anthropogenic impact on watersheds (e.g. dams and land-use change). High-latitude Chinook salmon portfolios were on average 2·5 times more reliable, and their portfolio risk was mainly due to low variance in the individual assets. Sockeye salmon portfolios were also more reliable at higher latitudes, but sources of risk varied among the highest performing portfolios. Synthesis and applications. Portfolio theory provides a straightforward method for characterizing the resilience of salmon ecosystems and their services. Natural variability in portfolio performance among undeveloped watersheds provides a benchmark for restoration efforts. Locally and regionally

  18. Using E-Learning Portfolio Technology To Support Visual Art Learning

    Directory of Open Access Journals (Sweden)

    Greer Jones-Woodham

    2009-08-01

    Full Text Available Inspired by self-directed learning (SDL theories, this paper uses learning portfolios as a reflective practice to improve student learning and develop personal responsibility, growth and autonomy in learning in a Visual Arts course. Students use PowerPoint presentations to demonstrate their concepts by creating folders that are linked to e-portfolios on the University website. This paper establishes the role of learning e-portfolios to improve teaching and learning as a model of reflection, collaboration and documentation in the making of art as a self-directed process. These portfolios link students' creative thinking to their conceptual frameworks. They also establish a process of inquiry using journals to map students' processes through their reflections and peer feedback. This practice argues that learning e-portfolios in studio art not only depends on a set of objectives whose means are justified by an agreed end but also depends on a practice that engages students' reflection about their actions while in their art- making practice. Using the principles of the maker as the intuitive and reflective practitioner, the making as the process in which the learning e-portfolios communicate the process and conceptual frameworks of learning and the eventual product, and the made as evidence of that learning in light of progress made, this paper demonstrates that learning-in-action and reflecting-in and-on-action are driven by self-direction. With technology, students bring their learning context to bear with the use of SDL. Students' use of PowerPoint program technology in making their portfolios is systematic and builds on students' competencies as this process guides students' beliefs and actions about their work that is based on theory and concepts in response to a visual culture that is Trinidad and Tobago. Students' self–directed art-making process as a self directed learning, models the process of articulated learning. Communicating about

  19. Active Satellite Sensors for the needs of Cultural Heritage: Introducing SAR applications in Cyprus through ATHENA project

    Science.gov (United States)

    Kouhartsiouk, Demetris; Agapiou, Athos; Lynsadrou, Vasiliki; Themistocleous, Kyriacos; Nisantzi, Argyro; Hadjimitsis, Diofantos G.; Lasaponara, Rosa; Masini, Nicola; Brcic, Ramon; Eineder, Michael; Krauss, Thomas; Cerra, Daniele; Gessner, Ursula; Schreier, Gunter

    2017-04-01

    Non-invasive landscape investigation for archaeological purposes includes a wide range of survey techniques, most of which include in-situ methods. In the recent years, a major advance in the non-invasive surveying techniques has been the introduction of active remote sensing technologies. One of such technologies is spaceborne radar, known as Synthetic Aperture Radar (SAR). SAR has proven to be a valuable tool in the analysis of potential archaeological marks and in the systematic cultural heritage site monitoring. With the use of SAR, it is possible to monitor slight variations in vegetation and soil often interpreted as archaeological signs, while radar sensors frequently having penetrating capabilities offering an insight into shallow underground remains. Radar remote sensing for immovable cultural heritage and archaeological applications has been recently introduced to Cyprus through the currently ongoing ATHENA project. ATHENA project, under the Horizon 2020 programme, aims at building a bridge between research institutions of the low performing Member States and internationally-leading counterparts at EU level, mainly through training workshops and a series of knowledge transfer activities, frequently taking place on the basis of capacity development. The project is formed as the consortium of the Remote Sensing and Geo-Environment Research Laboratory of the Cyprus University of Technology (CUT), the National Research Council of Italy (CNR) and the German Aerospace Centre (DLR). As part of the project, a number of cultural heritage sites in Cyprus have been studied testing different methodologies involving SAR imagery such as Amplitude Change Detection, Coherence Calculation and fusion techniques. The ATHENA's prospective agenda includes the continuation of the capacity building programme with upcoming training workshops to take place while expanding the knowledge of radar applications on conservation and risk monitoring of cultural heritage sites through

  20. Portfolio optimization with skewness and kurtosis

    Science.gov (United States)

    Lam, Weng Hoe; Jaaman, Saiful Hafizah Hj.; Isa, Zaidi

    2013-04-01

    Mean and variance of return distributions are two important parameters of the mean-variance model in portfolio optimization. However, the mean-variance model will become inadequate if the returns of assets are not normally distributed. Therefore, higher moments such as skewness and kurtosis cannot be ignored. Risk averse investors prefer portfolios with high skewness and low kurtosis so that the probability of getting negative rates of return will be reduced. The objective of this study is to compare the portfolio compositions as well as performances between the mean-variance model and mean-variance-skewness-kurtosis model by using the polynomial goal programming approach. The results show that the incorporation of skewness and kurtosis will change the optimal portfolio compositions. The mean-variance-skewness-kurtosis model outperforms the mean-variance model because the mean-variance-skewness-kurtosis model takes skewness and kurtosis into consideration. Therefore, the mean-variance-skewness-kurtosis model is more appropriate for the investors of Malaysia in portfolio optimization.

  1. Weaving Language and Culture: Latina Adolescent Writers in an After-School Writing Project

    Science.gov (United States)

    Garcia, Andrea; Gaddes, Amy

    2012-01-01

    A decade ago, the subtractive schooling of many Latino youth in the United States resulted in a devaluing of cultural identity and heritage as resources to support learning. Today, educators are urged to revalue cultural resources toward literacy development. This study explores the experiences of Latina adolescent students as writers during an…

  2. The Cradleboard Teaching Project: Using Curriculum and Cross-Cultural Partnering To Change Perceptions.

    Science.gov (United States)

    Sainte-Marie, Buffy

    1999-01-01

    Native Americans developed core curriculum units at the elementary, intermediate, and secondary levels in geography, history, music, social studies, and science presented from a Native American cultural perspective. Mainstream classes are paired with Native American classes and learn authentic information through cross-cultural exchange via…

  3. Cultural heritage in urban redevelopment projects: a framework to analyse collaborative strategies

    NARCIS (Netherlands)

    Baarveld, Marlijn; Smit, Marnix

    2011-01-01

    Due to technological, economic and spatial developments, various inner-city industrial areas have lost their former use and their original economic value. Many of these areas have elements of cultural-historical value. Preserving this cultural heritage means managing it for the benefit of current

  4. Cross-border transfer of knowledge: Cultural lessons from project GLOBE

    NARCIS (Netherlands)

    Javidan, Mansour; Stahl, Günther K.; Brodbeck, Felix; Wilderom, Celeste P.M.

    2005-01-01

    Distant cross-border business is on the rise. It necessitates effective transfer of knowledge across geographic and cultural borders. In this article we present the key results from the GLOBE study of 62 cultures and apply them to a real-life case of a North European business school designing and

  5. Giving a Virtual Voice to the Silent Language of Culture: The "Cultura" Project.

    Science.gov (United States)

    Furstenberg, Gilberte; Levet, Sabine; English, Kathryn; Maillet, Katherine

    2001-01-01

    Presents a Web-based, cross-cultural, curricular initiative entitled, "Cultura," designed to develop foreign language students' understanding of foreign cultural attitudes, concepts, beliefs, and ways of interacting and looking at the world. Focuses on the pedagogy of electronic media, with particular emphasis on the ways the Web can be used to…

  6. Enhancing Social Capital in Children via School-Based Community Cultural Development Projects: A Pilot Study

    Science.gov (United States)

    Buys, Laurie; Miller, Evonne

    2009-01-01

    This exploratory pilot study investigates the extent to which participating in a community cultural development (CCD) initiative builds social capital among children. An independent youth arts organisation implemented two cultural activities, developing a compact disc of original music and designing mosaic artworks for a library courtyard, in two…

  7. Implementing portfolio in postgraduate general practice training. Benefits and recommendations.

    Science.gov (United States)

    Alotaibi, Fawaz S

    2012-10-01

    This paper presents a review to explore the literature focusing on portfolio in postgraduate general practice (GP) training, and to examine the impact of implementation of portfolio on learning process, as well as proposing recommendations for its implementation in postgraduate GP training. An electronic search was carried out on several databases for studies addressing portfolio in postgraduate GP training. Six articles were included to address specifically the effectiveness of portfolio in postgraduate GP training. Five of them described successful experiences of portfolio-based learning implementation. Only one article addressed portfolio-based assessment in postgraduate GP training. The existing evidence provides various benefits of professional portfolio-based learning. It does appear to have advantages of stimulating reflective learning, promoting proactive learning, and bridging the hospital experiences of the learners to GP. Moreover, the challenges to implementation of portfolio-based learning are often based on orientation and training of stakeholders.

  8. Minimum Variance Portfolios in the Brazilian Equity Market

    Directory of Open Access Journals (Sweden)

    Alexandre Rubesam

    2013-03-01

    Full Text Available We investigate minimum variance portfolios in the Brazilian equity market using different methods to estimate the covariance matrix, from the simple model of using the sample covariance to multivariate GARCH models. We compare the performance of the minimum variance portfolios to those of the following benchmarks: (i the IBOVESPA equity index, (ii an equally-weighted portfolio, (iii the maximum Sharpe ratio portfolio and (iv the maximum growth portfolio. Our results show that the minimum variance portfolio has higher returns with lower risk compared to the benchmarks. We also consider long-short 130/30 minimum variance portfolios and obtain similar results. The minimum variance portfolio invests in relatively few stocks with low βs measured with respect to the IBOVESPA index, being easily replicable by individual and institutional investors alike.

  9. Application of Portfolio Theory in Recovery Planning for Pacific Salmon.

    Science.gov (United States)

    Ecological applications of portfolio theory demonstrate the utility of this analytical framework for understanding the stability of commercial and indigenous Pacific Salmon fisheries. Portfolio theory also has the potential to aid in recovery planning for threatened and endangere...

  10. Formation and bases of the analysis of the investment portfolio of the enterprise

    Directory of Open Access Journals (Sweden)

    I. I. Hasanshin

    2018-01-01

    Full Text Available This article discusses several methods for project design and analysis. After all, they are the key ones in creating a new IT portfolio of the enterprise, according to the standards for the formation and management of projects, which is especially important in investment analysis. Considering these stages, we touch topics from the beginning of an enterprise to its formation, as a working business. After all, every enterprise begins its life with a choice of methods, stopping at one, it chooses a plan and sets tasks. Attraction of investments will be one of the main points in this task. For today, investments are the cause for the consequences of economic processes and various phenomena in the economy. This view will be of interest to specialists in the field of information technology and economic sciences. The idea is substantiated that the analysis of such results gives a good assessment in order to further identify weaknesses, build business processes and solutions from the point of view of forming a new portfolio of the enterprise and tools that allow determining the profitability of the module or the project as a whole in terms of money and technical equivalents. The article helps to reveal the topic and the main problem that is interesting and relevant for today, what method of attracting investors and implementing / shaping the IT portfolio of the project, choose which innovative portfolio management systems should be used and how they differ from traditional ones and how to properly link them with architecture of the enterprise. The key stages of investment analysis will be: increase in profits, accumulation of resources, proper portfolio formation and diversification.

  11. Wright meets Markowitz: How standard portfolio theory changes when assets are technologies following experience curves

    OpenAIRE

    Way, Rupert; Lafond, François; Farmer, J. Doyne; Lillo, Fabrizio; Panchenko, Valentyn

    2017-01-01

    This paper considers how to optimally allocate investments in a portfolio of competing technologies. We introduce a simple model representing the underlying trade-off - between investing enough effort in any one project to spur rapid progress, and diversifying effort over many projects simultaneously to hedge against failure. We use stochastic experience curves to model the idea that investing more in a technology reduces its unit costs, and we use a mean-variance objective function to unders...

  12. Toward a Low-Carbon Economy : Renewable Energy and Energy Efficiency Portfolio Review

    OpenAIRE

    World Bank

    2013-01-01

    Renewable energy and energy efficiency projects continue to perform strongly in the World Bank Group (WBG) energy portfolio and are increasingly being mainstreamed in the WBG's energy lending. In fiscal 2007 a total of US$1,433 million supported 63 renewable energy and energy efficiency projects in 32 countries. In addition to operational activities, the WBG engages in a variety of economic sector work and technical assistance focused on renewable energy and energy efficiency. This work is an...

  13. Realistic Goals and Processes for Future Space Astronomy Portfolio Planning

    Science.gov (United States)

    Morse, Jon

    2015-08-01

    It is generally recognized that international participation and coordination is highly valuable for maximizing the scientific impact of modern space science facilities, as well as for cost-sharing reasons. Indeed, all large space science missions, and most medium and small missions, are international, even if one country or space agency has a clear leadership role and bears most of the development costs. International coordination is a necessary aspect of future mission planning, but how that coordination is done remains debatable. I propose that the community's scientific vision is generally homogeneous enough to permit international coordination of decadal-scale strategic science goals. However, the timing and budget allocation/funding mechanisms of individual countries and/or space agencies are too disparate for effective long-term strategic portfolio planning via a single international process. Rather, I argue that coordinated space mission portfolio planning is a natural consequence of international collaboration on individual strategic missions. I review the process and outcomes of the U.S. 2010 decadal survey in astronomy & astrophysics from the perspective of a government official who helped craft the survey charter and transmitted guidance to the scientific community on behalf of a sponsoring agency (NASA), while continuing to manage the current portfolio that involved ongoing negotiations with other space agencies. I analyze the difficulties associated with projecting long-term budgets, obtaining realistic mission costs (including the additional cost burdens of international partnerships), and developing new (possibly transformational) technologies. Finally, I remark on the future role that privately funded space science missions can have in accomplishing international science community goals.

  14. Markowitz portfolio optimization model employing fuzzy measure

    Science.gov (United States)

    Ramli, Suhailywati; Jaaman, Saiful Hafizah

    2017-04-01

    Markowitz in 1952 introduced the mean-variance methodology for the portfolio selection problems. His pioneering research has shaped the portfolio risk-return model and become one of the most important research fields in modern finance. This paper extends the classical Markowitz's mean-variance portfolio selection model applying the fuzzy measure to determine the risk and return. In this paper, we apply the original mean-variance model as a benchmark, fuzzy mean-variance model with fuzzy return and the model with return are modeled by specific types of fuzzy number for comparison. The model with fuzzy approach gives better performance as compared to the mean-variance approach. The numerical examples are included to illustrate these models by employing Malaysian share market data.

  15. Teaching ePortfolios in Teacher Education

    Directory of Open Access Journals (Sweden)

    Peter Groißböck

    2012-11-01

    Full Text Available Especially when starting their career in the induction phase, young teachers need personal, profession-related and social support. Young teachers can get personal support with a mentoring system, profession-related support in seminars and social support with peer-learning. E-portfolios offer ways to accompany those learning processes and are a central tool for the documentation of individual student progress in the induction phase of teachers. In this article a concept of teaching e-portfolios for the induction phase is presented, showing a basic structure, essential conditions and possible risks. Additionally this article also includes practical thoughts to the use of e-portfolios in basic teacher education and further teacher training.

  16. Enhanced index tracking modelling in portfolio optimization

    Science.gov (United States)

    Lam, W. S.; Hj. Jaaman, Saiful Hafizah; Ismail, Hamizun bin

    2013-09-01

    Enhanced index tracking is a popular form of passive fund management in stock market. It is a dual-objective optimization problem, a trade-off between maximizing the mean return and minimizing the risk. Enhanced index tracking aims to generate excess return over the return achieved by the index without purchasing all of the stocks that make up the index by establishing an optimal portfolio. The objective of this study is to determine the optimal portfolio composition and performance by using weighted model in enhanced index tracking. Weighted model focuses on the trade-off between the excess return and the risk. The results of this study show that the optimal portfolio for the weighted model is able to outperform the Malaysia market index which is Kuala Lumpur Composite Index because of higher mean return and lower risk without purchasing all the stocks in the market index.

  17. Belief Propagation Algorithm for Portfolio Optimization Problems.

    Science.gov (United States)

    Shinzato, Takashi; Yasuda, Muneki

    2015-01-01

    The typical behavior of optimal solutions to portfolio optimization problems with absolute deviation and expected shortfall models using replica analysis was pioneeringly estimated by S. Ciliberti et al. [Eur. Phys. B. 57, 175 (2007)]; however, they have not yet developed an approximate derivation method for finding the optimal portfolio with respect to a given return set. In this study, an approximation algorithm based on belief propagation for the portfolio optimization problem is presented using the Bethe free energy formalism, and the consistency of the numerical experimental results of the proposed algorithm with those of replica analysis is confirmed. Furthermore, the conjecture of H. Konno and H. Yamazaki, that the optimal solutions with the absolute deviation model and with the mean-variance model have the same typical behavior, is verified using replica analysis and the belief propagation algorithm.

  18. Robust Portfolio Optimization using CAPM Approach

    Directory of Open Access Journals (Sweden)

    mohsen gharakhani

    2013-08-01

    Full Text Available In this paper, a new robust model of multi-period portfolio problem has been developed. One of the key concerns in any asset allocation problem is how to cope with uncertainty about future returns. There are some approaches in the literature for this purpose including stochastic programming and robust optimization. Applying these techniques to multi-period portfolio problem may increase the problem size in a way that the resulting model is intractable. In this paper, a novel approach has been proposed to formulate multi-period portfolio problem as an uncertain linear program assuming that asset return follows the single-index factor model. Robust optimization technique has been also used to solve the problem. In order to evaluate the performance of the proposed model, a numerical example has been applied using simulated data.

  19. Portfolio Selection Using Level Crossing Analysis

    Science.gov (United States)

    Bolgorian, Meysam; Shirazi, A. H.; Jafari, G. R.

    Asset allocation is one of the most important and also challenging issues in finance. In this paper using level crossing analysis we introduce a new approach for portfolio selection. We introduce a portfolio index that is obtained based on minimizing the waiting time to receive known return and risk values. By the waiting time, we mean time that a special level is observed in average. The advantage of this approach is that the investors are able to set their goals based on gaining return and knowing the average waiting time and risk value at the same time. As an example we use our model for forming portfolio of stocks in Tehran Stock Exchange (TSE).

  20. Belief Propagation Algorithm for Portfolio Optimization Problems.

    Directory of Open Access Journals (Sweden)

    Takashi Shinzato

    Full Text Available The typical behavior of optimal solutions to portfolio optimization problems with absolute deviation and expected shortfall models using replica analysis was pioneeringly estimated by S. Ciliberti et al. [Eur. Phys. B. 57, 175 (2007]; however, they have not yet developed an approximate derivation method for finding the optimal portfolio with respect to a given return set. In this study, an approximation algorithm based on belief propagation for the portfolio optimization problem is presented using the Bethe free energy formalism, and the consistency of the numerical experimental results of the proposed algorithm with those of replica analysis is confirmed. Furthermore, the conjecture of H. Konno and H. Yamazaki, that the optimal solutions with the absolute deviation model and with the mean-variance model have the same typical behavior, is verified using replica analysis and the belief propagation algorithm.