WorldWideScience

Sample records for portfolios developing quality

  1. Validity of portfolio assessment: which qualities determine ratings?

    NARCIS (Netherlands)

    Driessen, E.W.; Overeem, K.; Tartwijk, J. van; Vleuten, C.P.M. van der; Muijtjens, A.M.M.

    2006-01-01

    The portfolio is becoming increasingly accepted as a valuable tool for learning and assessment. The validity of portfolio assessment, however, may suffer from bias due to irrelevant qualities, such as lay-out and writing style. We examined the possible effects of such qualities in a portfolio

  2. Documenting Quality Improvement and Patient Safety Efforts: The Quality Portfolio. A Statement from the Academic Hospitalist Taskforce

    OpenAIRE

    Taylor, Benjamin B.; Parekh, Vikas; Estrada, Carlos A.; Schleyer, Anneliese; Sharpe, Bradley

    2013-01-01

    Physicians increasingly investigate, work, and teach to improve the quality of care and safety of care delivery. The Society of General Internal Medicine Academic Hospitalist Task Force sought to develop a practical tool, the quality portfolio, to systematically document quality and safety achievements. The quality portfolio was vetted with internal and external stakeholders including national leaders in academic medicine. The portfolio was refined for implementation to include an outlined fr...

  3. [Development of a portfolio for competency-based assessment in a clinical clerkship curriculum].

    Science.gov (United States)

    Roh, HyeRin; Lee, Jong-Tae; Yoon, Yoo Sang; Rhee, Byoung Doo

    2015-12-01

    The purpose of this report was to describe our experience in planning and developing a portfolio for a clinical clerkship curriculum. We have developed a portfolio for assessing student competency since 2007. During an annual workshop on clinical clerkship curricula, clerkship directors from five Paik hospitals of Inje University met to improve the assessment of the portfolio. We generated templates for students to record their activities and reflection and receive feedback. We uploaded these templates to our school's website for students to download freely. Annually, we have held a faculty development seminar and a workshop for portfolio assessment and feedback. Also, we established an orientation program on how to construct a learning portfolio for students. Future actions include creating a ubiquitous portfolio system, extending the portfolio to the entire curriculum, setting up an advisor system, and managing the quality of the portfolio. This study could be helpful for medical schools that plan to improve their portfolio assessment with an outcome-based approach.

  4. MODERN THEORETICAL APPROACHES CREDIT PORTFOLIO QUALITY MANAGEMENT OF COMMERCIAL BANK

    Directory of Open Access Journals (Sweden)

    Victoria Lisnic

    2016-12-01

    Full Text Available Credit portfolio management means the totality of financial and economic decisions realization aimed at achieving optimal ratio of performance indicators of loan portfolio. If low-quality loans increase, the reduction of productive assets volume and, respectively, profitability from banking lending. In extreme cases a such situation could lead to bank bankruptcy. At present bank loan portfolio quality assessment is an important component of bank management.

  5. The teaching portfolio as a professional development tool for anaesthetists.

    Science.gov (United States)

    Sidhu, N S

    2015-05-01

    A teaching portfolio (TP) is a document containing a factual description of a teacher's teaching strengths and accomplishments, allowing clinicians to display them for examination by others. The primary aim of a TP is to improve quality of teaching by providing a structure for self-reflection, which in turn aids professional development in medical education. Contents typically include a personal statement on teaching, an overview of teaching accomplishments and activities, feedback from colleagues and learners, a reflective component and some examples of teaching material. Electronic portfolios are more portable and flexible compared to paper portfolios. Clinicians gain the most benefit from a TP when it is used as a tool for self-reflection of their teaching practice and not merely as a list of activities and achievements. This article explains why and how anaesthetists might use a TP as a tool for professional development in medical education.

  6. Portfolio Development in Teacher Education and Educational Leadership.

    Science.gov (United States)

    Biddle, James

    The Ohio Consortium for Portfolio Development was established in 1988 as an interinstitutional research effort to integrate portfolio development into teacher education. A subphase focused on portfolio use by entry year teachers in a metropolitan school system. Personnel at Wright State University, Central State University, and the University of…

  7. 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…

  8. Feedback using an ePortfolio for medicine long cases: quality not quantity.

    Science.gov (United States)

    Bleasel, Jane; Burgess, Annette; Weeks, Ruth; Haq, Inam

    2016-10-21

    The evidence for the positive impact of an electronic Portfolio (ePortfolio) on feedback in medicine is mixed. An ePortfolio for medical long cases in a Graduate Medical Program was developed. The purpose of this study was to explore the perceptions of medical students and faculty of the impact of the ePortfolio on the feedback process. In total, 130 Year 3 medical students, and six faculty participated in the study. This is a mixed methods study, using a combination of both quantitative and qualitative approaches. Quantitative methods were used to quantify the number of long cases performed. Qualitative methods were used to explore the relationship between quantity and quality of feedback, and provide a rich understanding of both students' and faculty's experience and perceptions of the ePortfolio. Students received a variable quantity of feedback at each of the three studied clinical schools, with an average of between 4 - 5.4 feedback episodes per student. Feedback that was constructive, specific and timely and delivered by a senior academic was important. Quantity was not an essential factor, with two episodes of detailed feedback reported to be adequate. The barriers to the use of the ePortfolio were technical aspects of the platform that interfered with student engagement. Feedback using the ePortfolio for medical long cases is a valuable tool providing a senior clinician delivers detailed, constructive and personalized feedback in a timely fashion. The ePortfolio system needs to be user-friendly to engage students.

  9. 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.

  10. Exploring Ways that ePortfolios can Support the Progressive Development of Graduate Qualities and Professional Competencies

    Science.gov (United States)

    Faulkner, Margaret; Mahfuzul Aziz, Syed; Waye, Vicki; Smith, Elizabeth

    2013-01-01

    Since the late-1990s, the University of South Australia has embedded seven Graduate Qualities across all programs. Subsequently, the higher education landscape has changed dramatically in terms of national policies and standards, as well as technologies available to support learning and teaching. Most higher education institutions now have their…

  11. Towards a reference model for portfolio management for product development

    DEFF Research Database (Denmark)

    Larsson, Flemming

    2006-01-01

    The aim of this paper is to explore the concept of portfolio management for product development at company level. Departing from a combination of explorative interviews with industry professionals and a literature review a proposal for a reference model for portfolio management is developed....... The model consists of a set of defined and interrelated concepts which forms a coherent and consistent reference model that explicate the totality of the portfolio management concept at company level in terms of structure, processes and elements. The model simultaneously pinpoints, positions and integrates...... several central dimensions of portfolio management....

  12. R functions development for stockPortfolio package

    OpenAIRE

    Luo, Rui

    2013-01-01

    Modern portfolio theory is a statistical framework to allocate investment assets properly, with the aim of reducing risk by diversification. In the past decades, a variety of index and group models (with different covariance assumption) have been proposed to optimize the portfolio, including Single Index Model, Constant Correlation Model, Multi-Group Model, and Multi-Index Model. An R package "stockPortfolio" is developed by Drs. Christou and Diez, and fully implemented Single Index Model, Co...

  13. Platform development: implications for portfolio management

    DEFF Research Database (Denmark)

    Hsuan, Juliana; Hansen, Poul H. Kyvsgård

    2007-01-01

    " The challenge of implementing industrial platforms in practice can be described as a configuration problem caused by a considerable number of variables, which often have contradictory influences on the total performance of the firm. Consequently, the specific platform decisions become extremely...... complex, possibly increasing the strategic risks for the firm. This paper reports preliminary findings on platform management process at LEGO, a Danish toy company. Specifically, we report the process of applying games combined with simulations and workshops in the platform development. We also propose...... a framework, based on the portfolio management thinking to evaluate the degree of modularity embedded in a given platform and to which extent it is aligned with other platforms."...

  14. The Development of E-Portfolio Evaluation Criteria and Application to the Blackboard LMS E-Portfolio

    Science.gov (United States)

    McKenna, Gary F.; Stansfield, Mark H.

    2012-01-01

    The purpose of this paper is to develop e-portfolio evaluation criteria which will be used to review the Blackboard LMS e-portfolio being used at one Higher Education (HE) institution in the UK as evaluation criteria for reviewing e-portfolio provision does not exist in the literature. The approach taken was to initiate a wide literature search…

  15. Feedback using an ePortfolio for medicine long cases: quality not quantity

    Directory of Open Access Journals (Sweden)

    Jane Bleasel

    2016-10-01

    Full Text Available Abstract Background The evidence for the positive impact of an electronic Portfolio (ePortfolio on feedback in medicine is mixed. An ePortfolio for medical long cases in a Graduate Medical Program was developed. The purpose of this study was to explore the perceptions of medical students and faculty of the impact of the ePortfolio on the feedback process. Methods In total, 130 Year 3 medical students, and six faculty participated in the study. This is a mixed methods study, using a combination of both quantitative and qualitative approaches. Quantitative methods were used to quantify the number of long cases performed. Qualitative methods were used to explore the relationship between quantity and quality of feedback, and provide a rich understanding of both students’ and faculty’s experience and perceptions of the ePortfolio. Results Students received a variable quantity of feedback at each of the three studied clinical schools, with an average of between 4 – 5.4 feedback episodes per student. Feedback that was constructive, specific and timely and delivered by a senior academic was important. Quantity was not an essential factor, with two episodes of detailed feedback reported to be adequate. The barriers to the use of the ePortfolio were technical aspects of the platform that interfered with student engagement. Conclusions Feedback using the ePortfolio for medical long cases is a valuable tool providing a senior clinician delivers detailed, constructive and personalized feedback in a timely fashion. The ePortfolio system needs to be user-friendly to engage students.

  16. E-Portfolios in Teacher Development: The Better Option?

    Science.gov (United States)

    Xerri, Daniel; Campbell, Caroline

    2016-01-01

    Following the introduction of print portfolios for teacher development in the ELT sector in Malta, this article discusses the findings of a small-scale study that highlighted teachers' views in relation to the possible future implementation of e-portfolios. It shows that while aware of the benefits of this tool, teachers have concerns about their…

  17. 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…

  18. Using David Kolb's Experiential Learning Theory in Portfolio Development Courses.

    Science.gov (United States)

    Mark, Michael; Menson, Betty

    1982-01-01

    As personal portfolio assessment matures, practitioners continue to look for techniques that enhance both personal development and the process of seeking academic credit through assessment. Kolb's experiential learning theory and learning style inventory may have applications in this search. (Author)

  19. An Assessment of Air Force Development Portfolio Management Practices

    National Research Council Canada - National Science Library

    Greiner, Michael A; Dooley, Kevin J; Shunk, Dan L; McNutt, Ross T

    2002-01-01

    .... Decision makers must weigh benefits, costs, and mission needs for a variety of proposed new initiatives and current weapon systems programs to develop an effective portfolio that provides the best value to the user...

  20. Strategic biopharmaceutical portfolio development: an analysis of constraint-induced implications.

    Science.gov (United States)

    George, Edmund D; Farid, Suzanne S

    2008-01-01

    Optimizing the structure and development pathway of biopharmaceutical drug portfolios are core concerns to the developer that come with several attached complexities. These include strategic decisions for the choice of drugs, the scheduling of critical activities, and the possible involvement of third parties for development and manufacturing at various stages for each drug. Additional complexities that must be considered include the impact of making such decisions in an uncertain environment. Presented here is the development of a stochastic multi-objective optimization framework designed to address these issues. The framework harnesses the ability of Bayesian networks to characterize the probabilistic structure of superior decisions via machine learning and evolve them to multi-objective optimality. Case studies that entailed three- and five-drug portfolios alongside a range of cash flow constraints were constructed to derive insight from the framework where results demonstrate that a variety of options exist for formulating nondominated strategies in the objective space considered, giving the manufacturer a range of pursuable options. In all cases limitations on cash flow reduce the potential for generating profits for a given probability of success. For the sizes of portfolio considered, results suggest that naïvely applying strategies optimal for a particular size of portfolio to a portfolio of another size is inappropriate. For the five-drug portfolio the most preferred means for development across the set of optimized strategies is to fully integrate development and commercial activities in-house. For the three-drug portfolio, the preferred means of development involves a mixture of in-house, outsourced, and partnered activities. Also, the size of the portfolio appears to have a larger impact on strategy and the quality of objectives than the magnitude of cash flow constraint.

  1. Developing a framework for energy technology portfolio selection

    Science.gov (United States)

    Davoudpour, Hamid; Ashrafi, Maryam

    2012-11-01

    Today, the increased consumption of energy in world, in addition to the risk of quick exhaustion of fossil resources, has forced industrial firms and organizations to utilize energy technology portfolio management tools viewed both as a process of diversification of energy sources and optimal use of available energy sources. Furthermore, the rapid development of technologies, their increasing complexity and variety, and market dynamics have made the task of technology portfolio selection difficult. Considering high level of competitiveness, organizations need to strategically allocate their limited resources to the best subset of possible candidates. This paper presents the results of developing a mathematical model for energy technology portfolio selection at a R&D center maximizing support of the organization's strategy and values. The model balances the cost and benefit of the entire portfolio.

  2. Assessing the Development of Medical Students' Personal and Professional Skills by Portfolio.

    Science.gov (United States)

    Yielder, Jill; Moir, Fiona

    2016-01-01

    The introduction of a new domain of learning for Personal and Professional Skills in the medical program at the University of Auckland in New Zealand has involved the compilation of a portfolio for assessment. This departure from the traditional assessment methods predominantly used in the past has been challenging to design, introduce, and maintain as a relevant and authentic assessment method. We present the portfolio format along with the process for its introduction and appraise the challenges, strengths, and limitations of the approach within the context of the current literature. We then outline a cyclical model of evaluation used to monitor and fine-tune the portfolio tasks and implementation process, in response to student and assessor feedback. The portfolios have illustrated the level of insight, maturity, and synthesis of personal and professional qualities that students are capable of achieving. The Auckland medical program strives to foster these qualities in its students, and the portfolio provides an opportunity for students to demonstrate their reflective abilities. Moreover, the creation of a Personal and Professional Skills domain with the portfolio as its key assessment emphasizes the importance of reflective practice and personal and professional development and gives a clear message that these are fundamental longitudinal elements of the program.

  3. Assessing the Development of Medical Students’ Personal and Professional Skills by Portfolio

    Science.gov (United States)

    Yielder, Jill; Moir, Fiona

    2016-01-01

    The introduction of a new domain of learning for Personal and Professional Skills in the medical program at the University of Auckland in New Zealand has involved the compilation of a portfolio for assessment. This departure from the traditional assessment methods predominantly used in the past has been challenging to design, introduce, and maintain as a relevant and authentic assessment method. We present the portfolio format along with the process for its introduction and appraise the challenges, strengths, and limitations of the approach within the context of the current literature. We then outline a cyclical model of evaluation used to monitor and fine-tune the portfolio tasks and implementation process, in response to student and assessor feedback. The portfolios have illustrated the level of insight, maturity, and synthesis of personal and professional qualities that students are capable of achieving. The Auckland medical program strives to foster these qualities in its students, and the portfolio provides an opportunity for students to demonstrate their reflective abilities. Moreover, the creation of a Personal and Professional Skills domain with the portfolio as its key assessment emphasizes the importance of reflective practice and personal and professional development and gives a clear message that these are fundamental longitudinal elements of the program. PMID:29349315

  4. Development of an Electronic Portfolio System Success Model: An Information Systems Approach

    Science.gov (United States)

    Balaban, Igor; Mu, Enrique; Divjak, Blazenka

    2013-01-01

    This research has two main goals: to develop an instrument for assessing Electronic Portfolio (ePortfolio) success and to build a corresponding ePortfolio success model using DeLone and McLean's information systems success model as the theoretical framework. For this purpose, we developed an ePortfolio success measurement instrument and structural…

  5. Bank Portfolio Structure and Economic Absorption Theory of Economic Development: A Theoretical Proposition

    Directory of Open Access Journals (Sweden)

    Uduak B. UBOM

    2016-11-01

    Full Text Available The focus of this article was on theoretical proposition of Bank Portfolio Structure and Economic Absorption Theory of economic development. Specifically, the work sought to establish the basis of bank portfolio rigidity and to identify the causes of economic absorption problems and their implications on economic development. The theoretical and conceptual research designs were used. Existing literatures were reviewed using archival retrieval approach, library search and internet exploration. The information obtained was judgmentally, logically and qualitatively analyzed. It was discovered among others, that, bank portfolio rigidity stems from regulatory policy defects using inconsistent monetary policy tools such as high liquidity ratio and cash ratio, etc. and compelling the banks to adhere to the regulatory requirement, as well as lack of adequate and quality stock of infrastructure and technology as the basic causes of economic absorption problems. Above all, low level of economic absorption has been discovered to hinder effective contributions of banks to economic development. Following from above, it was therefore recommended that regulatory tools used by Central Banks should be aligned with the development needs of the economy and the direction of governments. The monetary policy tools such as liquidity and cash ratios should also be moderated and stabilized for stable bank portfolio performance as well as aggressive improvement in the stock and quality of infrastructure and technology within an economy. With the new theory, it is expected that policy formulations and adjustments concerning bank portfolio structure and management would be designed with adequate flexibility and focus on long term loans and investments coupled with improved stock and quality of infrastructure to enhance economic development. This theory therefore provides another frontier of research on bank portfolio structure and contributions to economic development.

  6. 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.

  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. PMID:24361020

  8. Mature Basin Development Portfolio Management in a Resource Constrained Environment

    International Nuclear Information System (INIS)

    Mandhane, J. M.; Udo, S. D.

    2002-01-01

    Nigerian Petroleum industry is constantly faced with management of resource constraints stemming from capital and operating budget, availability of skilled manpower, capacity of an existing surface facility, size of well assets, amount of soft and hard information, etceteras. Constrained capital forces the industry to rank subsurface resource and potential before proceeding with preparation of development scenarios. Availability of skilled manpower limits scope of integrated reservoir studies. Level of information forces technical and management to find low-risk development alternative in a limited time. Volume of either oil or natural gas or water or combination of them may be constrained due to design limits of the existing facility, or an external OPEC quota, requires high portfolio management skills.The first part of the paper statistically analyses development portfolio of a mature basin for (a) subsurface resources volume, (b) developed and undeveloped and undeveloped volumes, (c) sweating of wells, and (d) facility assets. The analysis presented conclusively demonstrates that the 80/20 is active in the statistical sample. The 80/20 refers to 80% of the effect coming from the 20% of the cause. The second part of the paper deals with how 80/20 could be applied to manage portfolio for a given set of constraints. Three application examples are discussed. Feedback on implementation of them resulting in focussed resource management with handsome rewards is documented.The statistical analysis and application examples from a mature basin form a way forward for a development portfolio management in an resource constrained environment

  9. 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…

  10. 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.

  11. 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...

  12. Developing a Template for Electronic Portfolios in Career and Technical Education

    Science.gov (United States)

    Fowler, Matthew

    2012-01-01

    The purposes of this multiple case study were to determine if manufacturing and services sector employers found value in the use of an ePortfolio in the hiring process, and to develop a suggested template for an ePortfolio format to be used within career and technical education. Electronic portfolios "allow students to showcase their…

  13. Macro-Financial Linkages in Egypt; A Panel Analysis of Economic Shocks and Loan Portfolio Quality

    OpenAIRE

    Inessa Love; Rima Turk-Ariss

    2013-01-01

    This paper investigates macro-financial linkages in Egypt using two complementary methods, assessing the interaction between different macroeconomic aggregates and loan portfolio quality in a multivariate framework as well as through a panel vector autoregressive method that controls for bank-level characteristics. Using a panel of banks over 1993-2010, the authors find that a positive shock to capital inflows and growth in gross domestic product improves banks’ loan portfolio quality, and ...

  14. Students' attitudes towards the introduction of a Personal and Professional Development portfolio: potential barriers and facilitators.

    Science.gov (United States)

    Ross, Sarah; Maclachlan, Alison; Cleland, Jennifer

    2009-12-01

    Portfolios, widely used in undergraduate and postgraduate medicine, have variable purposes, formats and success. A recent systematic review summarised factors necessary for successful portfolio introduction but there are no studies investigating the views of students inexperienced in portfolio use towards portfolio learning. This study's aim was to survey student views about a prospective Professional and Personal Development (PPD) portfolio. This was a qualitative, focus group study. All focus groups were taped and transcribed verbatim, and anonymised. The transcripts were analysed inductively, using framework analysis. Four focus groups were carried out with 32 undergraduate medical students naïve in portfolio use. Three themes relevant to portfolio introduction emerged. The first theme was the need for clear information and support for portfolio introduction, and anxieties about how this could be supported effectively. The second was that students had negative views about reflective learning and whether this could be taught and assessed, believing formal assessment could foster socially acceptable content. The third was that participants revealed little understanding of reflective learning and its potential benefits. Rather portfolios were seen as useful for concrete purposes (e.g., job applications) not intrinsic benefits. Undergraduate medical students without experience of portfolios are anxious about portfolio introduction. They require support in developing reflective learning skills. Care must be taken to ensure students do not see portfolios as merely yet another assessment hurdle.

  15. Methodical approaches to assessment of quality of the bank loan portfolio

    Directory of Open Access Journals (Sweden)

    Tysyachna Yunna S.

    2014-01-01

    Full Text Available The goal of the article lies in the study of basic methodical approaches to assessment of the quality of the bank loan portfolio, identification of specific features of their practical application and justification of selection of the most appropriate for the modern economic conditions. The article considers three main groups of methods of assessment of the quality of the bank loan portfolio: expert evaluation methods and statistical and analytical methods. It goes without saying that in order to obtain an objective assessment of quality of the bank loan portfolio it is necessary to apply a complex approach, however, due to some advantages and shortcomings of the studied methods, the author marks expediency of building an integral indicator, taxonomic in particular, in order to obtain a complex, objective and efficient assessment of the bank loan portfolio. Prospects of further studies in this direction are assessment of the quality of the loan portfolio of the first group banks by the size of their assets through building integral taxonomic indicators and identification, on this basis, of factors that influence the quality of the loan portfolio with the aim of improvement of the mechanism of management of the bank lending activity.

  16. 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

  17. 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

  18. 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…

  19. 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.

  20. A Simple Early Warning System for Evaluating the Credit Portfolio's Quality

    Directory of Open Access Journals (Sweden)

    Nicolae Dardac

    2009-05-01

    Full Text Available The last decade has witnessed the development of a vast literature devoted to the study of several phenomena like banking crises or episodes of vulnerability and distress, characterized by inadequate capitalization, impairment of the asset quality and of the credit institutions' rating. The purpose of this study is to design an early warning system in order to highlight at an earlier stage the likelihood of deterioration of the Romanian banking system credit portfolio's quality. We have applied an econometric model which constitutes a reference for this type of analysis, having as purpose the identification of a significant correlation between increasing weight of bad loans in total assets, on the one hand, and a number of macroeconomic variables and indicators of the banking system, on the other hand.

  1. 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.

  2. Radiographer managers and service development: A Delphi study to determine an MRI service portfolio for year 2020

    International Nuclear Information System (INIS)

    Castillo, J.; Caruana, C.J.; Morgan, P.S.; Westbrook, C.

    2015-01-01

    Purpose: As high quality CPD courses become increasingly expensive and time off for radiographers progressively limited, it is important that CPD content be aligned to forecasted service portfolio development. When such a portfolio has not been developed locally the CPD planner should carry out an own forecasting exercise. The purpose of the study was to develop a 2020 MRI service portfolio using a Delphi study. Methods and materials: MRI stakeholder experts participated in a first Delphi round based on semi-structured interviews. The interviews were analysed thematically leading to a series of statements for a second Delphi round. Level of agreement was assessed as the median value on a 6 point Likert scale ranging from 1 (complete disagreement) to 6 (complete agreement), the level of consensus was assessed using the interquartile range (IQR). Consensus was defined as IQR ≤ 1. Results: Very strong agreement and consensus (median 6, IQR ≤ 1) was obtained for maintaining current service catalogue and introduction of breast biopsies, cardiac studies, ISO standards, referral guidelines, and departmental policies aligned to EU regulations. Strong agreement and consensus (median 5, IQR ≤ 1) was obtained for introduction of tumour assessment, tractography, elastography, enterography. The level of consensus was low (IQR ≥ 1) regarding research, 3T MRI, outsourcing, prostate screening and certification for MRI referral privileges. Conclusion: The multi stakeholder approach adopted ensured that the proposed service portfolio would be suitable for local healthcare needs. Although the methodology has been applied to MRI it could easily be adapted to any imaging modality. - Highlights: • A Delphi study was successfully used to forecast MRI service portfolio for year 2020. • The service portfolio determines the competences required by radiographers. • The service portfolio has helped in decision making to introduce waiting list initiatives. • Protocols

  3. 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.

  4. Application of E-Portfolio System to Enhance Teacher Professional Development

    Science.gov (United States)

    Liao, Chin-Wen

    2011-01-01

    This study focuses on the meaning, applications and future development of e-teaching portfolios as an attempt to highlight the important role it plays in the "post-modern teaching practice mode". For the purpose of enhancing teacher professional development, application of the teaching portfolio system in the post-modern teacher qualification…

  5. Business cycle effects on commercial bank loan portfolio performance in developing economies

    Directory of Open Access Journals (Sweden)

    Jack Glen

    2011-04-01

    Full Text Available This paper studies the effects of business cycles on the performance of commercial bank loan portfolios across major developing economies in the period 1996–2008. We measure loan performance via loan loss provisions (that is, recognized expenses related to expected losses in bank income statements. Our results indicate that while economic growth is the main driver of loan portfolio performance, interest rates have second-order effects. Furthermore, we find the relationship between loan loss provisions and economic growth to be highly non-linear only under extreme economic stress: GDP growth needs to decline by more than 6 percentage points (pp, in absolute terms in order to generate an increase in loan loss provisions equivalent to median emerging market bank profits; while a decline of more than 10 pp in growth implies significant capital losses, of at least 20 percent, for the median emerging market bank. In addition, we find higher loan loss provisions are associated with private sector leverage, poor loan portfolio quality, and lack of banking system penetration and capitalization.

  6. 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

  7. How we developed a role-based portfolio for teachers' professional development.

    Science.gov (United States)

    Pyörälä, Eeva

    2014-09-01

    Faculty development requires practical tools for supporting teachers' professional development. In a modern medical education context, teachers need to adapt to various educational roles. This article describes how a role-based portfolio with a qualitative self-assessment scale was developed. It strives to encourage and support teachers' growth in different educational roles. The portfolio was developed between 2009 and 2012 at the University of Helsinki in dialogue with teachers involved in faculty development. It is based on the role framework presented by Harden and Crosby. Today, it also involves the educational premises of constructive alignment, reflection and a scholarly approach to teaching. The role-based portfolio has led the teachers to discover new educational roles and set goals in their professional development.

  8. Evaluating Organizational Quality through Narrative: A Case for Accreditation Using the School Portfolio

    Science.gov (United States)

    Fisch, Buddy

    2010-01-01

    This case study examines the narrative form of communication as used by educational leaders and their constituencies for quality school improvement. The school portfolio was used as an alternative accreditation process in one public school of over 800 students. This narrative approach used observation, interviews, and document analysis to validate…

  9. Impact of Credit Restructuring on the Quality of Bank Asset Portfolio. A Cluster Analysis Approach

    Directory of Open Access Journals (Sweden)

    Nicolae Dardac

    2011-06-01

    Full Text Available In this paper we proposed an analysis of the financial crisis impact on the procedures formanagement of loan portfolios in several banking systems. Despite ample liquidity injectionprograms implemented by major central banks and government actions, credit risk remains a keychallenge of the current banking systems. On a medium term, the high percentage of bad loans hasbecome a structural vulnerability. To maintain an acceptable quality of loan portfolios and not todamage the prudential and profitability indicators, credit institutions in EU member states haveproceeded to apply various techniques for credit restructuring. The quantitative analysis carried out inthe last part of the paper revealed a relatively moderate granularity of banking systems considered, interms of capitalization, volume of bank reserves and net provisions, in response to the persistent trendof loan portfolio deterioration.

  10. Managing the Public Sector Research and Development Portfolio Selection Process: A Case Study of Quantitative Selection and Optimization

    Science.gov (United States)

    2016-09-01

    PUBLIC SECTOR RESEARCH & DEVELOPMENT PORTFOLIO SELECTION PROCESS: A CASE STUDY OF QUANTITATIVE SELECTION AND OPTIMIZATION by Jason A. Schwartz...PUBLIC SECTOR RESEARCH & DEVELOPMENT PORTFOLIO SELECTION PROCESS: A CASE STUDY OF QUANTITATIVE SELECTION AND OPTIMIZATION 5. FUNDING NUMBERS 6...describing how public sector organizations can implement a research and development (R&D) portfolio optimization strategy to maximize the cost

  11. 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…

  12. Decision Gate Process for Assessment of a Technology Development Portfolio

    Science.gov (United States)

    Kohli, Rajiv; Fishman, Julianna; Hyatt, Mark

    2012-01-01

    The NASA Dust Management Project (DMP) was established to provide technologies (to TRL 6 development level) required to address adverse effects of lunar dust to humans and to exploration systems and equipment, which will reduce life cycle cost and risk, and will increase the probability of sustainable and successful lunar missions. The technology portfolio of DMP consisted of different categories of technologies whose final product is either a technology solution in itself, or one that contributes toward a dust mitigation strategy for a particular application. A Decision Gate Process (DGP) was developed to assess and validate the achievement and priority of the dust mitigation technologies as the technologies progress through the development cycle. The DGP was part of continuous technology assessment and was a critical element of DMP risk management. At the core of the process were technology-specific criteria developed to measure the success of each DMP technology in attaining the technology readiness levels assigned to each decision gate. The DGP accounts for both categories of technologies and qualifies the technology progression from technology development tasks to application areas. The process provided opportunities to validate performance, as well as to identify non-performance in time to adjust resources and direction. This paper describes the overall philosophy of the DGP and the methodology for implementation for DMP, and describes the method for defining the technology evaluation criteria. The process is illustrated by example of an application to a specific DMP technology.

  13. 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...

  14. Capability and Development Risk Management in System-of-Systems Architectures: A Portfolio Approach to Decision-Making

    Science.gov (United States)

    2012-04-30

    tool that provides a means of balancing capability development against cost and interdependent risks through the use of modern portfolio theory ...Focardi, 2007; Tutuncu & Cornuejols, 2007) that are extensions of modern portfolio and control theory . The reformulation allows for possible changes...Acquisition: Wave Model context • An Investment Portfolio Approach – Mean Variance Approach – Mean - Variance : A Robust Version • Concept

  15. Development of a web database portfolio system with PACS connectivity for undergraduate health education and continuing professional development.

    Science.gov (United States)

    Ng, Curtise K C; White, Peter; McKay, Janice C

    2009-04-01

    Increasingly, the use of web database portfolio systems is noted in medical and health education, and for continuing professional development (CPD). However, the functions of existing systems are not always aligned with the corresponding pedagogy and hence reflection is often lost. This paper presents the development of a tailored web database portfolio system with Picture Archiving and Communication System (PACS) connectivity, which is based on the portfolio pedagogy. Following a pre-determined portfolio framework, a system model with the components of web, database and mail servers, server side scripts, and a Query/Retrieve (Q/R) broker for conversion between Hypertext Transfer Protocol (HTTP) requests and Q/R service class of Digital Imaging and Communication in Medicine (DICOM) standard, is proposed. The system was piloted with seventy-seven volunteers. A tailored web database portfolio system (http://radep.hti.polyu.edu.hk) was developed. Technological arrangements for reinforcing portfolio pedagogy include popup windows (reminders) with guidelines and probing questions of 'collect', 'select' and 'reflect' on evidence of development/experience, limitation in the number of files (evidence) to be uploaded, the 'Evidence Insertion' functionality to link the individual uploaded artifacts with reflective writing, capability to accommodate diversity of contents and convenient interfaces for reviewing portfolios and communication. Evidence to date suggests the system supports users to build their portfolios with sound hypertext reflection under a facilitator's guidance, and with reviewers to monitor students' progress providing feedback and comments online in a programme-wide situation.

  16. Analysis of Scientific and Methodical Approaches to Portfolio Investment as a Tool of Financial Provision of Sustainable Economic Development

    Directory of Open Access Journals (Sweden)

    Leus Daryna V.

    2013-12-01

    Full Text Available The article analyses scientific and methodical approaches to portfolio investment. It develops recommendations on specification of the categorical apparatus of portfolio investment in the context of differentiation of strategic (direct and portfolio investments as alternative approaches to the conduct of investment activity. It identifies the composition and functions of objects and subjects of portfolio investment under conditions of globalisation of the world financial markets. It studies main postulates of the portfolio theory and justifies a necessity of identification of the place, role and functions of subjects of portfolio investment in them for ensuring sustainable development of the economy. It offers to specify, as one of the ways of further development of portfolio theories, a separate direction in the financial provision of economy with consideration of ecologic and social components – socio responsible investment.

  17. The development of a reflective vascular training portfolio: Using a ...

    African Journals Online (AJOL)

    ... of formative assessment to certify candidates. Case-based self-reflection in postgraduate training may be used as an additional educational tool and incorporated into the curricula vitae of trainees. We describe the method used to assess a vascular case, based on a self-reflective training method (vascular case portfolio).

  18. 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...

  19. THE USE OF E-PORTFOLIO TO DEVELOP ENGLISH LANGUAGE LEARNERS' AUTONOMY AND INDEPENDENCE

    Directory of Open Access Journals (Sweden)

    Oksana I. Ivanova

    2017-09-01

    Full Text Available This paper discusses the findings of a research study concerning the use of e-portfolios to develop learners' autonomy and independence, from the perspectives of teachers and students participating in this study. The findings demonstrate many of the benefits of e-portfolio practice regarding learners’ increased sense of ownership, teacher and peer feedback, enriched learning experience at both individual and technological levels, enhanced opportunity for self-improvement and increased awareness of the learning process. Despite many positive aspects of e-portfolios use, the study reveals some challenges facing students, teachers and support staff, mainly connected with technical problems and Internet access, and the necessity for teachers and learners to change their roles to become more independent in the learning process. The author concludes that e-portfolio is a promising tool to stimulate and challenge students to become independent and self-regulated learners that should be implemented in English language learning at higher educational institutions.

  20. 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)

  1. Managing supplier involvement in new product development: a portfolio approach

    NARCIS (Netherlands)

    Wynstra, Finn; ten Pierick, E.

    2000-01-01

    Supplier involvement in new product development projects has become an increasingly popular method for improving project effectiveness (product costs and quality) and project efficiency (development costs and time). One of the key issues in managing this involvement is determining which type of

  2. STRATEGY FOR BUSINESS PORTFOLIO DEVELOPMENT OF PT SEKAR LAUT, TBK.

    Directory of Open Access Journals (Sweden)

    Homisah Homisah

    2016-01-01

    Full Text Available PT Sekar Laut, Tbk. (PTSL, as a local company, has three main business units including snack crackers, cooking spices and private label.  Due to the potentials of Indonesia, it is expected that PTSL can upscale its competitive advantage and has an ability to compete with global companies as well.  The objectives of this research were 1 analyzing relative positioning of PTSL compared with market leaders in snack and cooking spices industries, 2 analyzing Life Cycle phase per business unit, 3 analyzing positioning of each product category in portfolio matrix, 4 formulating strategic recommendations to  the management for each product category of PTSL.  The method used in this study was descriptive analysis. The analysis tools used in this study were BCG matrix, Life Cycle model, IFE, IFI and GE matrix. The results showed that relative positioning of crackers and cooking spices business units in BCG matrix is in Question Marks quadrant.  The results of Life Cycle model for snack crackers, cooking spices, and private label showed that they are in Growth phase.  The result of portfolio analysis by GE matrix showed that shrimp cracker and fish cracker product categories are in Selective Growth quadrant. Vegetables cracker, cooking spices, uleg chili sauce, burger buns are in Investment and Growth quadrant. The strategic recommendation for shrimp and fish crackers is to identify the growth segment, aggressive investment and uphold position.  The strategic recommendations for vegetable cracker, cooking spices, uleg chili sauce, and burger buns are growth, seeking for dominance and maximum investment.Keywords: portfolio analyzing, crackers, cooking spices, uleg chili sauce, burger buns

  3. Cointegration and Causality Analysis on Developed Asian Markets for Risk Management and Portfolio Selection

    Directory of Open Access Journals (Sweden)

    Aldrin Herwany

    2008-09-01

    This study assesses the cointegration and causal relations among seven developed Asian markets, i.e., Tokyo, Hong Kong, Korea, Taiwan, Shanghai, Singapore, and Kuala Lumpur stock exchanges, using more frequent time series data. It employs the recently developed techniques for investigating unit roots, cointegration, time-varying volatility, and causality in variance. For estimating portfolio market risk, this study employs Value-at-Risk with delta normal approach. The results would recommend whether fund managers are able to diversify their portfolio in these developed stock markets either in long run or in short run.

  4. [Development and validation of a questionnaire on perception of portfolio by undergraduate medical students].

    Science.gov (United States)

    Riquelme, Arnoldo; Méndez, Benjamín; de la Fuente, Paloma; Padilla, Oslando; Benaglio, Carla; Sirhan, Marisol; Labarca, Jaime

    2011-01-01

    Portfolio is an innovative instrument that promotes reflection, creativity and professionalism among students. To describe the development and validation process of a questionnaire to evaluate the use of portfolio in undergraduate medical students. Focus groups with students and teachers were employed to identify aspects related with portfolio in undergraduate teaching. The Delphi technique was used to prioritize relevant aspects and construct the questionnaire. The validated questionnaire, consisting of 43 items and 6 factors, was applied to 97 students (response rote of 99.9%) in 2007 and 100 students (99.2%) in 2008. Each question had to be answered using a Likert scale, from 0 (completely disagree) to 4 (completely agree) The validity and reliability of the questionnaire was evaluated. The questionnaire showed a high reliability (Cronbach alpha = 0.9). The mean total scores obtained in 2007 and 2008 were 106.2 ± 21.2 (61.7% of the maximal obtainable score) and 104.6 ± 34.0 (60.8% of the maximal obtainable score), respectively No significant differences were seen in the analysis by factors. Changes in portfolio during 2008 showed differences in items related with organization, evaluation and regulation. The questionnaire is a valid and highly reliable instrument, measuring perceptions about the portfolio by undergraduate medical students. The students perceived an improvement in their creativity and professionalism as one of the strengths of portfolio. The weaknesses identified during the implementation process helped us to focus changes in organization and evaluation to improve the portfolio as a dynamic process.

  5. Institutional Assessment and the Integrative Core Curriculum: Involving Students in the Development of an ePortfolio System

    Science.gov (United States)

    Silva, Mary Lourdes; Adams Delaney, Susan; Cochran, Jolene; Jackson, Ruth; Olivares, Cory

    2015-01-01

    The majority of research on the implementation of ePortfolios focuses on curriculum, faculty development, or student buy-in. When ePortfolio systems have been described in technical terms, the focus has been on the functionality, affordances, and limitations of ePortfolio systems (e.g., TaskStream, LiveText), free web tools (e.g., Google Docs),…

  6. 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.

  7. The Development of Blended-Learning Teaching Portfolio Course Using TBL Approach

    Science.gov (United States)

    Pardamean, Bens; Prabowo, Harjanto; Muljo, Hery Harjono; Suparyanto, Teddy; Masli, Eryadi K.; Donovan, Jerome

    2017-01-01

    This article was written to develop a teaching portfolio that helps lecturers maximize the benefits of blended learning, a combination of in-person and online learning, through the use of Team-Based Learning (TBL) teaching and learning approach. Studies show that TBL can provide opportunities in developing teamwork capabilities and enhancing…

  8. Using Facebook as an E-Portfolio in Enhancing Pre-Service Teachers' Professional Development

    Science.gov (United States)

    Kabilan, Muhammad Kamarul

    2016-01-01

    This study aims to determine if "Facebook," when used as an online teacher portfolio (OTP), could contribute meaningfully to pre-service teachers' professional development (PD) and in what ways the OTP can be meaningful. Pre-service teachers (n = 91) were asked to develop OTP using "Facebook" and engage in learning and…

  9. e-Portfolios for Learning and Development: without constant internet or electrical grid access

    NARCIS (Netherlands)

    Casey, John; Calverley, Gayle; Greller, Wolfgang; Uhomoibhi, James

    2011-01-01

    Casey, J., Calverley, G., Greller, W., & Uhomoibhi, J. (2010, 26-28 May). e-Portfolios for Learning and Development: without constant internet or electrical grid access. Presentation at the 5th International Conference on ICT for Development, Education, and Training - eLearning Africa, Lusaka,

  10. 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

  11. Utilisation of an electronic portfolio to engage rehabilitation professionals in continuing professional development: results of a provincial survey.

    Science.gov (United States)

    Foucault, Marie-Lyse; Vachon, Brigitte; Thomas, Aliki; Rochette, Annie; Giguère, Charles-Édouard

    2018-06-01

    ePortfolios are frequently used to support continuing professional development (CPD) of rehabilitation professionals. Though this tool is now widely implemented in many professions by regulatory organisations, very few studies have investigated the use and impact among rehabilitation professionals. Implementation of comprehensive ePortfolios that are centred on the needs of rehabilitation professionals requires documenting their level of use and perceived outcomes. The objectives were to describe how occupational therapists use a mandatory ePortfolio that has been recently implemented by a regulatory organisation in Quebec (Canada) and the perceived outcomes of this requirement on continuing professional development and practice change. An online survey was sent to all registered occupational therapists in Quebec using the ePortfolio. The survey content was developed based on a literature review and expert consultation. Results were analysed using descriptive statistics. A total of 546 respondents completed the survey. Results show relatively high levels of ease and satisfaction with the tool, but a limited perception of the tool's impacts on the improvement of professional competencies and change in practices. Occupational therapists reported that use of the ePortfolio supports their engagement in CPD but has limited impact on practice. Promotion of work-based learning, team use and mentor support could increase its meaningfulness for professionals. Implications for Rehabilitation To improve attitudes and beliefs about benefits related to portfolio use, rehabilitation practitioners need a very clear understanding of the purpose and usefulness of a portfolio in clinical practice. Most of the respondents saw the ePortfolio as helping them develop and implement a continuing professional development plan and reflect on the changes needed in their practice. Portfolio use in teams and productive reflection should be promoted in order to target shared objectives for

  12. Design and evaluation of a development portfolio: How to improve students’ self-directed learning skills.

    NARCIS (Netherlands)

    Kicken, Wendy; Brand-Gruwel, Saskia; Van Merriënboer, Jeroen; Slot, Wim

    2008-01-01

    Kicken, W., Brand-Gruwel, S., Van Merrienboer, J. J. G., & Slot, W. (2009). Design and evaluation of a development portfolio: How to improve students’ self-directed learning skills. Instructional Science. DOI 10.1007/s11251-008-9058-5

  13. Faculty Professional Development: Advancing Integrative Social Pedagogy Using ePortfolio

    Science.gov (United States)

    Bhika, Rajendra; Francis, Andrea; Miller, Dionne

    2013-01-01

    This article highlights the work of three faculty members across two different professional development seminars at LaGuardia Community College. It illustrates how their work was guided and is linked together by a common thread--the use of ePortfolio to foster integrative social pedagogy--as a result of their participation in these seminars. This…

  14. Developing evaluation instrument based on CIPP models on the implementation of portfolio assessment

    Science.gov (United States)

    Kurnia, Feni; Rosana, Dadan; Supahar

    2017-08-01

    This study aimed to develop an evaluation instrument constructed by CIPP model on the implementation of portfolio assessment in science learning. This study used research and development (R & D) method; adapting 4-D by the development of non-test instrument, and the evaluation instrument constructed by CIPP model. CIPP is the abbreviation of Context, Input, Process, and Product. The techniques of data collection were interviews, questionnaires, and observations. Data collection instruments were: 1) the interview guidelines for the analysis of the problems and the needs, 2) questionnaire to see level of accomplishment of portfolio assessment instrument, and 3) observation sheets for teacher and student to dig up responses to the portfolio assessment instrument. The data obtained was quantitative data obtained from several validators. The validators consist of two lecturers as the evaluation experts, two practitioners (science teachers), and three colleagues. This paper shows the results of content validity obtained from the validators and the analysis result of the data obtained by using Aikens' V formula. The results of this study shows that the evaluation instrument based on CIPP models is proper to evaluate the implementation of portfolio assessment instruments. Based on the experts' judgments, practitioners, and colleagues, the Aikens' V coefficient was between 0.86-1,00 which means that it is valid and can be used in the limited trial and operational field trial.

  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. The extent and characteristics of United Kingdom hospital pharmacists keeping, or not keeping, a professional development portfolio.

    Science.gov (United States)

    Kostrzewski, Andrzej J; Dhillon, Soraya; Goodsman, Danë; Taylor, Kevin M G; Weinman, John A

    2009-10-01

    The aim of this study was to examine the use of continuing professional development (CPD) portfolios by hospital pharmacists. The objectives were to assess the extent to which pharmacists use portfolios in CPD and to examine the attitudes/beliefs which differentiate those who do and do not keep a portfolio. Participants completed two questionnaires: (1) personality traits were examined using the Big-Five questionnaire and (2) a new Pharmacist Portfolio-Engaging Behaviour Questionnaire (PPEBQ) examined the attitudes and beliefs. What constitutes a portfolio was left to the interpretation of the participants, but it was specified that the survey was about participants' views of producing written records of their professional practice for CPD. The setting was hospital pharmacists based in the London area in December 2004. Overall, 134 pharmacists (78%) returned both questionnaires, and 80 stated that they kept a portfolio and 52 stated that they did not (two questionnaires were returned spoilt). There was no significant difference in the age or number of years qualified between those with and without a portfolio. Three personality traits were linked to keeping a portfolio (conscientiousness, agreeableness and emotional stability). Pharmacists with a portfolio scored highly on the perceived behavioural control and behavioural intention scales of the PPEBQ. The Big-Five personality questionnaire is a useful tool to investigate pharmacists' use of a portfolio. Results of the PPEBQ suggested that hospital pharmacists who had a portfolio were concerned with having control over its production. However, the PPEBQ requires further development to improve its reliability. These findings have implications for the educational support of CPD.

  17. PORTFOLIO DEVELOPMENT OF NEW PRODUCTS: A REVIEW OF PUBLICATIONS IN NATIONAL JOURNALS

    Directory of Open Access Journals (Sweden)

    Paulo Henrique Antunes

    2012-04-01

    Full Text Available The current context of changes leading organizations to improve the products launched in the market to meet the increasingly demanding consumers. In order to offer products successfully, organizations need to select development projects from a portfolio. The research portfolio management can be considered quite extensively abroad, because much of the theoretical framework used by researchers in Brazil comes from international publications. Thus, it is important to diagnose the publications on the subject in the country. Accordingly, this paper aims to carry out a literature review on portfolio management in a restricted scope to develop new products, main focus of this research project. This work is characterized as theoretical and conceptual, with a systematic review of literature, by searching for articles in databases of national periodicals, followed by registration, organization and verification of these publications. The results allowed a stratification on the subject according to the journals identified in the Scielo database, as well as in specific journals. Also analyzed were the industrial sectors linked to publications, being the predominant financial sector, which is not part of the scope of this research. The study identified a paucity of studies related to portfolio management for new products, principally in relation to the application and implementation in organizations in general.

  18. Developing a sustainable electronic portfolio (ePortfolio) program that fosters reflective practice and incorporates CanMEDS competencies into the undergraduate medical curriculum.

    Science.gov (United States)

    Hall, Pippa; Byszewski, Anna; Sutherland, Stephanie; Stodel, Emma J

    2012-06-01

    The University of Ottawa (uOttawa) Faculty of Medicine in 2008 launched a revised undergraduate medical education (UGME) curriculum that was based on the seven CanMEDS roles (medical expert, communicator, collaborator, health advocate, manager, scholar, and professional) and added an eighth role of person to incorporate the dimension of mindfulness and personal well-being. In this article, the authors describe the development of an electronic Portfolio (ePortfolio) program that enables uOttawa medical students to document their activities and to demonstrate their development of competence in each of the eight roles. The ePortfolio program supports reflective practice, an important component of professional competence, and provides a means for addressing the "hidden curriculum." It is bilingual, mandatory, and spans the four years of UGME. It includes both an online component for students to document their personal development and for student-coach dialogue, as well as twice-yearly, small-group meetings in which students engage in reflective discussions and learn to give and receive feedback.The authors reflect on the challenges they faced in the development and implementation of the ePortfolio program and share the lessons they have learned along the way to a successful and sustainable program. These lessons include switching from a complex information technology system to a user-friendly, Web-based blog platform; rethinking orientation sessions to ensure that faculty and students understand the value of the ePortfolio program; soliciting student input to improve the program and increase student buy-in; and providing faculty development opportunities and recognition.

  19. A Cross-State Analysis of Renewable Portfolio Standard Development

    Science.gov (United States)

    Marchand, Mariel

    As of December 2016, thirty-seven states have a renewable portfolio standard (RPS). RPS require that utilities provide a certain percentage of electricity generated using renewable sources by a certain date. This thesis builds on diffusion of innovation literature to understand how factors within a state, such as its political climate and the strength of interest groups, appear to influence the adoption process and structure of the RPS in five states--Connecticut, New Jersey, Michigan, Colorado, and Washington. Each of these states has a strong RPS as measured by its renewable energy goal over its current renewable energy production, the time frame in which this goal must be met, and the percentage of the electric load that is included in the regulation. This thesis uses both within-case and cross-case analysis to understand which combinations of internal state factors potentially lead to the adoption of a strong RPS. It finds that there are a number of combinations of factors that appear to contribute to strong RPS, depending on the internal circumstances of each state. However, more important is that without the opportunity to tailor the policy to meet the needs of the state, it is likely that states with unfavorable internal factors may not choose to adopt a RPS at all, let alone a strong RPS. While the innovation factors identified through the RPS diffusion research often contribute to states adopting a strong RPS, this thesis finds that the influence of these factors depends on a combination of the internal state factors with the RPS adoption process in shaping the structure of the RPS.

  20. Portfolio screening to support the mainstreaming of adaptation to climate change into development assistance

    International Nuclear Information System (INIS)

    Klein, Richard J. T.; Eriksen, S.E.H.; O'Brien, K.L.; Naess, L.O.; Hammill, A.; Tanner, T.M.; Robledo, C.

    2007-01-01

    The need to mainstream adaptation to climate change into development planning and ongoing sectoral decision-making is increasingly recognised, and several bilateral and multilateral development agencies are starting to take an interest. Over the past years at least six development agencies have screened their project portfolios, generally with two goals in mind: (1) to ascertain the extent to which existing development projects already consider climate risks or address vulnerability to climate variability and change, and (2) to identify opportunities for incorporating climate change explicitly into future projects. As each portfolio screening was conducted independently, the broader lessons emerging from the screenings have not been systematically analysed. In this paper we assess the screening activities to date, focusing on both the results and the methods applied. Based on this assessment we identify opportunities for development agencies to expand their current focus on the links between climate and development. Most agencies already consider climate change as a real but uncertain threat to future development, but they have given less thought to how different development patterns might affect vulnerability to climate change. The screenings undertaken have shown the need to take a comprehensive approach to adaptation and its integration into development planning and sectoral decision-making, and a number of policy initiatives have been taken to promote such integration. We provide some initial guidance as to how portfolio screening can be carried out in a way that would allow agencies to assess systematically the relevance of climate change to their ongoing and planned development projects

  1. Developing a Personal-Learning-Portfolio (PLP) for 1st year students at Department of Psychology

    DEFF Research Database (Denmark)

    Johnsen, Anna Thit; Beck Hansen, Nina; Andersen, Mette Elmose

    Abstract title: Developing a Personal-Learning-Portfolio (PLP) for 1st year students at Department of Psychology Learning outcome of activity: B01 is the first module of the education in Psychology at University of Southern Denmark (SDU). The aim of B01 is to give the students a ‘map...... different strategies: first the overall framework of the PLP is discussed and second we conduct cognitive interviews evaluating the comprehensibility and relevance of the questions posed in the PLP. The PLP is then adapted based on the comments from the students. The development and initial testing...... be an inspiration to others who wish to develop and implements PLPs. Second, we will show the format of our particular Personal-Learning-Portfolio together with reflections on why it was developed in such a way. This includes the students’ opinions about the PLP and the results of the cognitive interviews....

  2. 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.

  3. Development of a Portfolio Management Approach with Case Study of the NASA Airspace Systems Program

    Science.gov (United States)

    Neitzke, Kurt W.; Hartman, Christopher L.

    2012-01-01

    A portfolio management approach was developed for the National Aeronautics and Space Administration s (NASA s) Airspace Systems Program (ASP). The purpose was to help inform ASP leadership regarding future investment decisions related to its existing portfolio of advanced technology concepts and capabilities (C/Cs) currently under development and to potentially identify new opportunities. The portfolio management approach is general in form and is extensible to other advanced technology development programs. It focuses on individual C/Cs and consists of three parts: 1) concept of operations (con-ops) development, 2) safety impact assessment, and 3) benefit-cost-risk (B-C-R) assessment. The first two parts are recommendations to ASP leaders and will be discussed only briefly, while the B-C-R part relates to the development of an assessment capability and will be discussed in greater detail. The B-C-R assessment capability enables estimation of the relative value of each C/C as compared with all other C/Cs in the ASP portfolio. Value is expressed in terms of a composite weighted utility function (WUF) rating, based on estimated benefits, costs, and risks. Benefit utility is estimated relative to achieving key NAS performance objectives, which are outlined in the ASP Strategic Plan.1 Risk utility focuses on C/C development and implementation risk, while cost utility focuses on the development and implementation portions of overall C/C life-cycle costs. Initial composite ratings of the ASP C/Cs were successfully generated; however, the limited availability of B-C-R information, which is used as inputs to the WUF model, reduced the meaningfulness of these initial investment ratings. Development of this approach, however, defined specific information-generation requirements for ASP C/C developers that will increase the meaningfulness of future B-C-R ratings.

  4. Developing a portfolio of financially sustainable, scalable, basic ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    cmanuel

    2016-05-17

    May 17, 2016 ... investment in service delivery to improve access to justice. ... national development strategies, set up new institutions to track ... Development Research Centre has developed a framework for thinking about how basic legal.

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

    Science.gov (United States)

    Jekunen, Antti

    2014-01-01

    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.

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

    Science.gov (United States)

    Jekunen, Antti

    2014-01-01

    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. PMID:25364229

  7. Product Portfolio Management Best Practices For New Product Development: A Review Of Models

    Directory of Open Access Journals (Sweden)

    Doorasamy Mishelle

    2017-02-01

    Full Text Available The survival of any industrial organization depends on whether producing goods or services hinge on how innovative they have become in managing their product portfolio to craft new products that changes with the ever-changing tastes and needs of their customers. This study delves in to the models and theories that drive product portfolio management practices in a way that they support the successes of new product development. Our review is based on selected studies at the frontier of product management, summarized, and compared based on authors experiences, subsisting models, and theories with the results purely based on qualitative rather than quantitative approaches. The essence is to explore possible new theory or model in this field of research.

  8. Implementation of a professional portfolio: a tool to demonstrate professional development for advanced practice.

    Science.gov (United States)

    Chamblee, Tracy B; Dale, Juanita Conkin; Drews, Barbie; Spahis, Joanna; Hardin, Teri

    2015-01-01

    The literature has a gap related to professional development for APRNs. In the United States, many health care organizations use clinical advancement programs for registered nurses, but APRNs are not often included in these programs. If APRNs are included, advancement opportunities are very limited. At CMC, implementation of a professional portfolio resulted in increased satisfaction among APPs regarding their ability to showcase professional growth and expertise, as well as the uniqueness of their advanced practice. Use of the professional portfolio led to improved recognition by APS and organizational leaders of APP performance excellence during the annual performance evaluation, as well as improved recognition among APP colleagues in terms of nominations for honors and awards.

  9. Using portfolios to introduce the clinical nurse leader to the job market.

    Science.gov (United States)

    Norris, Tommie L; Webb, Sherry S; McKeon, Leslie M; Jacob, Susan R; Herrin-Griffith, Donna

    2012-01-01

    Development of a portfolio is an effective strategy used by clinical nurse leaders (CNLs) to inform prospective employers of their specialized skills in quality improvement, patient safety, error prevention, and teamwork. The portfolio provides evidence of competence relative to the role of clinician, outcomes manager, client advocate, educator, information manager, systems analyst/risk anticipator, team manager, healthcare professional, and lifelong learner. This article describes the CNL portfolio developed by experts from the University of Tennessee Health Science Center and Methodist LeBonheur Healthcare. Examples of portfolio documents generated throughout the master's entry CNL curriculum are provided, along with student experiences using the portfolio in the employment interview process.

  10. Postgraduate Orthodontics Students' and Mentors' Perceptions of Portfolios and Discussion as Tools for Development of Reflection.

    Science.gov (United States)

    Tonni, Ingrid; Mora, Luca; Oliver, Richard G

    2016-09-01

    The aim of this study was to analyze the effects of a portfolio learning strategy designed to develop students' reflection abilities in a postgraduate orthodontic program in the UK. Nine first-year postgraduate orthodontic students and seven mentors participated in the one-year program, which included a reflective portfolio, mentorship, and discussion. After the program, the students' and mentors' perceptions were collected using focus groups and individual interviews, respectively. The data were analyzed using thematic analysis. Four categories emerged. The first, reflection, was considered a skill to learn, and time was needed for students to fully understand its meaning and achieve its outcomes. The second theme, characteristics of reflection, was descriptive at the beginning and more critical at the end of the experience. The third theme, outcomes of reflection, involved students' improved problem-solving and action-planning abilities and increased self-awareness, motivation, confidence, and communication skills. In the fourth theme, stimulation of reflection, students did not agree with mentors regarding the importance of reflective writing, but they recognized the value of the portfolio's reflective log in facilitating the reflective process. There was greater agreement between students and mentors regarding discussions with mentors and among peers as tools to achieve higher levels of reflection. Overall, these students and mentors considered the strategy an effective tool for improving students' reflection.

  11. Student Developed Knowledge Portfolios from a Soil Fertility Course

    Science.gov (United States)

    Sindelar, Meghan; Mamo, Martha; Wingeyer, Ana

    2018-01-01

    Students who have completed the Soil Nutrient Relationships course at the University of Nebraska-Lincoln often contact instructors once they have begun full-time work, seeking reminders of specific concepts. These students either did not take or keep detailed notes during the course. To assist students, instructors have developed a portfolio…

  12. Coaching the Coach: A Program for Development of Faculty Portfolio Coaches.

    Science.gov (United States)

    Kopechek, Jack; Bardales, Cheryl; Lash, A Todd; Walker, Curtis; Pfeil, Sheryl; Ledford, Cynthia H

    2017-01-01

    Faculty coaching is recognized as an essential element for effective use of portfolios in undergraduate medical education, yet best practices for training these coaches are uncertain. New portfolio coaches participated in a multifaceted training program that included orienting modules, a 7.5-hr training workshop featuring analysis of reflective writing, an Observed Structured Teaching Exercise (OSTE), and subsequent longitudinal coaches' meetings for timely task training. Four desired coaching skills were emphasized in the initial training: creating a safe environment, explicitly using performance data, asking questions that elicit reflection, and guiding the student to develop future goals and plans. We collected and analyzed several outcomes: (a) coaches' self-assessment at key intervals, (b) open-ended written responses to three coaching vignettes, (c) video recordings of the OSTE, and (d) subsequent student evaluation of the coach. In an attempt to capture learning from the workshop, both the responses to written vignettes and the video-recorded encounters were coded for presence or absence of the four desired skills. Our portfolio and coaching program was instituted as part of a major undergraduate medical education reform. A new cohort of 25 coaches is enrolled with each matriculating student class, and each coach is assigned to work individually with 8-10 students, forming a coaching relationship that continues over 4 years. Coaches are compensated at 5% full-time equivalent. On coach self-assessment, the majority of coaches reported significant improvement in their perceived ability to assess a student's level of reflection, enhance reflection, use performance data, and guide a student to develop goals and plans. After two semesters, coach perception of improved abilities persisted. Students rated coaches as excellent (82%), reporting that coaches created safe environments (99%), promoted insight (92%), and aided in goal setting (97%). Written responses to

  13. 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…

  14. PORTFOLIO MANAGEMENT IN NEW PRODUCTS DEVELOPMENT IN THE TELECOMMUNICATION SECTOR IN BRAZIL: A MULTIPLE CASES STUDY

    Directory of Open Access Journals (Sweden)

    Roque Rabechini Jr.

    2017-06-01

    Full Text Available This study aimed to understand how the use of portfolio management practices influence the development of new products in the Brazilian telecommunications operators. The chosen alternative methodology was the multiple case study. The results showed that the processes of identification, selection and prioritization projects influence the development of new products. Specifically, we found that the optimization of resources and product launch projects in short periods of time, are indicators to reveal the possibilities of organizations to remain competitive in the market.

  15. The Development of an ePortfolio as a Capstone in a Holistic Health Minor

    Science.gov (United States)

    Perks, Joan M.; Galantino, Mary Lou

    2013-01-01

    Use of electronic portfolios (ePortfolios) has been advocated to highlight student accomplishments as well as to document program and course outcomes. This use of ePortfolios incorporates information technology, thus aligning the educational process in degree programs to twenty-first-century teaching, learning, and information literacy. Here we…

  16. 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

  17. A mathematical model for maximizing the value of phase 3 drug development portfolios incorporating budget constraints and risk.

    Science.gov (United States)

    Patel, Nitin R; Ankolekar, Suresh; Antonijevic, Zoran; Rajicic, Natasa

    2013-05-10

    We describe a value-driven approach to optimizing pharmaceutical portfolios. Our approach incorporates inputs from research and development and commercial functions by simultaneously addressing internal and external factors. This approach differentiates itself from current practices in that it recognizes the impact of study design parameters, sample size in particular, on the portfolio value. We develop an integer programming (IP) model as the basis for Bayesian decision analysis to optimize phase 3 development portfolios using expected net present value as the criterion. We show how this framework can be used to determine optimal sample sizes and trial schedules to maximize the value of a portfolio under budget constraints. We then illustrate the remarkable flexibility of the IP model to answer a variety of 'what-if' questions that reflect situations that arise in practice. We extend the IP model to a stochastic IP model to incorporate uncertainty in the availability of drugs from earlier development phases for phase 3 development in the future. We show how to use stochastic IP to re-optimize the portfolio development strategy over time as new information accumulates and budget changes occur. Copyright © 2013 John Wiley & Sons, Ltd.

  18. Development of a portfolio of learning for postgraduate family medicine training in South Africa: a Delphi study.

    Science.gov (United States)

    Jenkins, Louis; Mash, Bob; Derese, Anselme

    2012-03-03

    Within the 52 health districts in South Africa, the family physician is seen as the clinical leader within a multi-professional district health team. Family physicians must be competent to meet 90% of the health needs of the communities in their districts. The eight university departments of Family Medicine have identified five unit standards, broken down into 85 training outcomes, for postgraduate training. The family medicine registrar must prove at the end of training that all the required training outcomes have been attained. District health managers must be assured that the family physician is competent to deliver the expected service. The Colleges of Medicine of South Africa (CMSA) require a portfolio to be submitted as part of the uniform assessment of all registrars applying to write the national fellowship examinations. This study aimed to achieve a consensus on the contents and principles of the first national portfolio for use in family medicine training in South Africa. A workshop held at the WONCA Africa Regional Conference in 2009 explored the purpose and broad contents of the portfolio. The 85 training outcomes, ideas from the WONCA workshop, the literature, and existing portfolios in the various universities were used to develop a questionnaire that was tested for content validity by a panel of 31 experts in family medicine in South Africa, via the Delphi technique in four rounds. Eighty five content items (national learning outcomes) and 27 principles were tested. Consensus was defined as 70% agreement. For those items that the panel thought should be included, they were also asked how to provide evidence for the specific item in the portfolio, and how to assess that evidence. Consensus was reached on 61 of the 85 national learning outcomes. The panel recommended that 50 be assessed by the portfolio and 11 should not be. No consensus could be reached on the remaining 24 outcomes and these were also omitted from the portfolio. The panel recommended

  19. Does a summative portfolio foster the development of capabilities such as reflective practice and understanding ethics? An evaluation from two medical schools.

    Science.gov (United States)

    O'Sullivan, Anthony J; Howe, Amanda C; Miles, Susan; Harris, Peter; Hughes, Chris S; Jones, Philip; Scicluna, Helen; Leinster, Sam J

    2012-01-01

    Portfolios need to be evaluated to determine whether they encourage students to develop in capabilities such as reflective practice and ethical judgment. The aims of this study were (i) to determine whether preparing a portfolio helps promote students' development in a range of capabilities including understanding ethical and legal principles, reflective practice and effective communication, and (ii) to determine to what extent the format of the portfolio affected the outcome by comparing the experiences of students at two different medical schools. A questionnaire was designed to evaluate undergraduate medical students' experiences of completing a portfolio at two medical schools. A total of 526 (45% response rate) students answered the on-line questionnaire. Students from both medical schools gave the highest ranking for the portfolio as a trigger for reflective practice. 63% of students agreed their portfolio helped them develop reflective practice skills (p portfolios helped them understand ethical and legal principles whereas 29% disagreed (p portfolio helped them to develop effective communication. Students perceive portfolio preparation as an effective learning tool for the development of capabilities such as understanding ethical and legal principles and reflective practice, whereas other capabilities such as effective communication require complementary techniques and other modes of assessment.

  20. Academic Leaders' Perspectives on Adopting ePortfolios for Developing and Assessing Professional Capabilities in Australian Business Education

    Science.gov (United States)

    Holt, Dale; McGuigan, Nicholas; Kavanagh, Marie; Leitch, Shona; Ngo, Leanne; Salzman, Scott; Watty, Kim; McKay, Jade

    2016-01-01

    This paper represents a major stage of data collection and reporting on an Australian Office for Learning and Teaching Innovation and Development grant investigating the adoption of ePortfolios for developing and assessing professional capabilities in Australian undergraduate business education. Assessing desired capabilities with and through…

  1. Collection management to reduce the uncorrect credit portfolio granted by the National Development Bank, Ecuador

    Directory of Open Access Journals (Sweden)

    Frank A. Lemoine-Quintero

    2018-01-01

    Full Text Available The objective of the research was to develop a collection management model for the reduction of the uncollectible portfolio generated by the microcredits of the National Development Bank (BNF in the Bolívar canton of Ecuador. A diagnosis was made based on the bank's internal and external analysis to define the strengths and weaknesses. The engineering matrix of the services allows to locate the credits the client quadrants unsatisfied and little satisfied. A budget history was evaluated to grant the credits in order to analyze the main causes of the services that are granted to define the objective and subjective problems. The results obtained allowed to define growth strategies, defense strategies and competitive strategies.

  2. The development of the portfolio management for the unit investment funds

    OpenAIRE

    Sergeeva, Irina; Nikiforova, Vera

    2012-01-01

    The paper analyses common Russian practice of assessment of the effectiveness of the unit investment fund portfolio management based on the risk/return tradeoff. The paper identifies characteristics, advantages and disadvantages of various portfolio risk measures, and introduces the approach to risk assessment based on the analytical coefficient calculations.

  3. Development of integrated brand portfolio strategies: a horizontal and vertical integrated planning model

    NARCIS (Netherlands)

    Bakker, Diederich; Raabe, Thorsten; Haas, Sandra

    2014-01-01

    Brand portfolio strategies are an essential prerequisite for securing long-term success for multi-brand companies. Only by focusing on the entire portfolio can it be ensured that all brands “act in concert” to achieve superordinate objectives. Thereby, an increasing vertical competition caused by

  4. 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...

  5. A portfolio decision analysis approach to support energy research and development resource allocation

    International Nuclear Information System (INIS)

    Kurth, Margaret; Keisler, Jeffrey M.; Bates, Matthew E.; Bridges, Todd S.; Summers, Jeffrey; Linkov, Igor

    2017-01-01

    Research sponsored by the US Department of Energy (DOE) aims to facilitate a clean and independent energy future for the nation. Strategic planning for energy research and development (R&D) can be complex and dynamic, in part due to federal budgetary constraints and volatility. Managing R&D funding to advance energy technologies, in spite of these challenges, is a crucial component of the nation's long term energy policy. This study demonstrates a portfolio decision analysis (PDA) approach to support R&D resource allocation decisions for the DOE Office of Fossil Energy's Carbon Capture and Storage R&D program. A multi-attribute value model uses technology readiness levels (TRLs) and other metrics to represent the overall objectives of the R&D program in order to evaluate alternative research portfolios given limited funding. Mathematical optimization identifies efficient funding allocations for each technology program area to maximize the multi-attribute value generated from the total budget. This is especially useful for responding to externally imposed budget changes. As the case study demonstrates, explicitly funding the most value-generating options leads to greater expected R&D programmatic value than typical strategies of equal or proportional distributions of a budget change among technology program areas. - Highlights: • Decision analysis can minimize the effect of a budget decrement on an R&D program. • Greater expected benefits are yielded by differentially funding technologies. • Budget scenario testing illustrates factors that influence value generation. • Coordinating with US DOE bridges gap between decision research and practice.

  6. 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....

  7. Teacher Electronic Portfolio and its Relation to EFL Student Teacher Performance and Attitude

    Directory of Open Access Journals (Sweden)

    Areej T Alshawi

    2017-01-01

    Full Text Available E-portfolio is a promising approach to develop teachers into reflective practitioners who show that they can adapt to new technologies, new criteria, and new environments. The current research explored the quality of EFL student teachers’ e-portfolios and their attitudes towards using them. The research was conducted on 30 EFL female student teachers at Princess Noura bint Abdulrahman University, Saudi Arabia. The participants were engaging in practical training at schools and reflecting their skills and experiences in their e-portfolios. This research posed further questions about the relationships between the quality of EFL student teachers’ e-portfolios, their attitudes towards using them and their teaching performance. In order to explore the possible answers, the participants’ teaching performance were observed, their e-portfolios were evaluated by a rubric, and a 24-item questionnaire was administered to them. The results proved high proficiency level of the EFL student teachers’ e-portfolios and positive attitudes towards using e-portfolios among EFL student teachers. Furthermore, the results denoted a statistically significant positive relationship between the quality of EFL student teachers’ e-portfolio and their teaching performance. The results of this study may encourage policy makers to integrate the idea of e-portfolio and reflection as an effective component in teacher education and development.

  8. Decision Gate Process for Assessment of a NASA Technology Development Portfolio

    Science.gov (United States)

    Kohli, Rajiv; Fishman, Julianna L.; Hyatt, Mark J.

    2012-01-01

    The NASA Dust Management Project (DMP) was established to provide technologies (to Technology Readiness Level (TRL) 6) required to address adverse effects of lunar dust to humans and to exploration systems and equipment, to reduce life cycle cost and risk, and to increase the probability of sustainable and successful lunar missions. The technology portfolio of DMP consisted of different categories of technologies whose final product was either a technology solution in itself, or one that contributes toward a dust mitigation strategy for a particular application. A Decision Gate Process (DGP) was developed to assess and validate the achievement and priority of the dust mitigation technologies as the technologies progress through the development cycle. The DGP was part of continuous technology assessment and was a critical element of DMP risk management. At the core of the process were technology-specific criteria developed to measure the success of each DMP technology in attaining the technology readiness levels assigned to each decision gate. The DGP accounts for both categories of technologies and qualifies the technology progression from technology development tasks to application areas. The process provided opportunities to validate performance, as well as to identify non-performance in time to adjust resources and direction. This paper describes the overall philosophy of the DGP and the methodology for implementation for DMP, and describes the method for defining the technology evaluation criteria. The process is illustrated by example of an application to a specific DMP technology.

  9. Portfolio: a prototype workstation for development and evaluation of tools for analysis and management of digital portal images

    International Nuclear Information System (INIS)

    Boxwala, Aziz A.; Chaney, Edward L.; Fritsch, Daniel S.; Friedman, Charles P.; Rosenman, Julian G.

    1998-01-01

    Purpose: The purpose of this investigation was to design and implement a prototype physician workstation, called PortFolio, as a platform for developing and evaluating, by means of controlled observer studies, user interfaces and interactive tools for analyzing and managing digital portal images. The first observer study was designed to measure physician acceptance of workstation technology, as an alternative to a view box, for inspection and analysis of portal images for detection of treatment setup errors. Methods and Materials: The observer study was conducted in a controlled experimental setting to evaluate physician acceptance of the prototype workstation technology exemplified by PortFolio. PortFolio incorporates a windows user interface, a compact kit of carefully selected image analysis tools, and an object-oriented data base infrastructure. The kit evaluated in the observer study included tools for contrast enhancement, registration, and multimodal image visualization. Acceptance was measured in the context of performing portal image analysis in a structured protocol designed to simulate clinical practice. The acceptability and usage patterns were measured from semistructured questionnaires and logs of user interactions. Results: Radiation oncologists, the subjects for this study, perceived the tools in PortFolio to be acceptable clinical aids. Concerns were expressed regarding user efficiency, particularly with respect to the image registration tools. Conclusions: The results of our observer study indicate that workstation technology is acceptable to radiation oncologists as an alternative to a view box for clinical detection of setup errors from digital portal images. Improvements in implementation, including more tools and a greater degree of automation in the image analysis tasks, are needed to make PortFolio more clinically practical

  10. EFFICIENCY OF CREDIT PORTFOLIO MANAGEMENT IN CONDITIONS OF ECONOMIC INSTABILITY

    Directory of Open Access Journals (Sweden)

    Koshel H.

    2018-01-01

    Full Text Available Introduction. The active development of integration processes causes the necessity of applying high-level approaches to management of the banking system, which is an essential part of the financial sector. Due to the importance of credit operations in the portfolio of banking assets, development of efficient and flexible credit management system is the basis for financial and market stability of banks. Purpose. Analyze the condition of the credit portfolio of banking institutions under the influence of economic processes and make conclusions and recommendations about the effectiveness of managing the bank’s credit portfolio and generalize ways of improving the structure and quality of the bank’s credit portfolio. Results. Over the last six years, the quality of the credit portfolio has become worse because of the bad debts growing and, as a result, decreasing in revenues. The calculated coefficient of management efficiency of a credit portfolio shows the dependence of this indicator on the value of risk and yield. In order to confirm the dependence and determine the degree of influence of these indicators on the efficiency of management of a loan portfolio, an economic-mathematical model was constructed on the example of both individual banks and the banking system as a whole. Detected dependence of factors is quite logical, therefore, the model can be recommended for practical use. Conclusion. Using this method of determining the management efficiency of a credit portfolio will allow the management of the bank to make reasonable decisions. It will allow the possibility of forming a more justified credit portfolio, taking into account not only the profitability, but also the real level of risk of credit operations.

  11. Developing R&D Portfolio Business Validity Simulation Model and System

    Directory of Open Access Journals (Sweden)

    Hyun Jin Yeo

    2015-01-01

    Full Text Available The R&D has been recognized as critical method to take competitiveness by not only companies but also nations with its value creation such as patent value and new product. Therefore, R&D has been a decision maker’s burden in that it is hard to decide how much money to invest, how long time one should spend, and what technology to develop which means it accompanies resources such as budget, time, and manpower. Although there are diverse researches about R&D evaluation, business factors are not concerned enough because almost all previous studies are technology oriented evaluation with one R&D technology based. In that, we early proposed R&D business aspect evaluation model which consists of nine business model components. In this research, we develop a simulation model and system evaluating a company or industry’s R&D portfolio with business model point of view and clarify default and control parameters to facilitate evaluator’s business validity work in each evaluation module by integrate to one screen.

  12. Developing R&D portfolio business validity simulation model and system.

    Science.gov (United States)

    Yeo, Hyun Jin; Im, Kwang Hyuk

    2015-01-01

    The R&D has been recognized as critical method to take competitiveness by not only companies but also nations with its value creation such as patent value and new product. Therefore, R&D has been a decision maker's burden in that it is hard to decide how much money to invest, how long time one should spend, and what technology to develop which means it accompanies resources such as budget, time, and manpower. Although there are diverse researches about R&D evaluation, business factors are not concerned enough because almost all previous studies are technology oriented evaluation with one R&D technology based. In that, we early proposed R&D business aspect evaluation model which consists of nine business model components. In this research, we develop a simulation model and system evaluating a company or industry's R&D portfolio with business model point of view and clarify default and control parameters to facilitate evaluator's business validity work in each evaluation module by integrate to one screen.

  13. Developing R&D Portfolio Business Validity Simulation Model and System

    Science.gov (United States)

    2015-01-01

    The R&D has been recognized as critical method to take competitiveness by not only companies but also nations with its value creation such as patent value and new product. Therefore, R&D has been a decision maker's burden in that it is hard to decide how much money to invest, how long time one should spend, and what technology to develop which means it accompanies resources such as budget, time, and manpower. Although there are diverse researches about R&D evaluation, business factors are not concerned enough because almost all previous studies are technology oriented evaluation with one R&D technology based. In that, we early proposed R&D business aspect evaluation model which consists of nine business model components. In this research, we develop a simulation model and system evaluating a company or industry's R&D portfolio with business model point of view and clarify default and control parameters to facilitate evaluator's business validity work in each evaluation module by integrate to one screen. PMID:25893209

  14. 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

  15. 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".

  16. Transforming Quality for Development.

    Science.gov (United States)

    Idrus, Nirwan

    2003-01-01

    Describes some obstacles to the acceptance of concepts and practices related to quality in developing countries. Explores possible paradigm faults as reasons for the negative reactions often found, and concludes that culture alone is not the reason quality concepts are not more readily transplanted. Discusses the desirability of short-, middle-,…

  17. 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.

  18. Evaluation of the professional process portfolio: an innovative tool to help develop and demonstrate leadership competency.

    Science.gov (United States)

    Hastings, Elisabeth S; Chacko, Mariam R; Acosta, Amy B; Hergenroeder, Albert C; Wiemann, Constance M

    2015-02-01

    The professional process portfolio (PPP) was adopted by the Maternal Child and Health Bureau (MCHB) as an 'innovation' in best practice for all Leadership in Education and Adolescent Health (LEAH) Training Programs; however it had not been formally evaluated. Thus the objective was to evaluate the utility of the PPP for graduates of the LEAH training program in terms of (1) how alumni have used, adapted, and applied it since completing fellowship, (2) what fellows learned or gained through completing it, and (3) how it can be improved for continued use in training programs. Graduates from six disciplines were asked via telephone or email to participate in a survey regarding their experience with the PPP. Descriptive statistics were generated for demographic characteristics and closed-choice questions. Responses to open-ended questions were analyzed by a team of faculty using framework analysis. Sixty-one graduates completed surveys. The majority (85%) found the PPP useful and utilized it post-graduation for multiple purposes in professional development: interviewing, training, and referencing previous work. Graduates recommended that the PPP be improved by making it electronic, discipline-specific, and providing earlier and more frequent instruction from faculty on expectations of creating it. Four themes emerged from the qualitative data analysis: accomplishment, experiential learning, skills and accountability, and a best practice of learning. The PPP was an effective personal learning tool for the majority of graduates and enhanced graduates' experiences. We highlight the ways that the PPP may facilitate the development of learning experiences associated with MCH leadership competence.

  19. 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...

  20. [Portfolio in nursing school: myth or reality].

    Science.gov (United States)

    Garnier, Chantal; Marchand, Claire

    2012-09-01

    The portfolio is a new tool that has been introduced for the setting up of a new program concerning the nurse training. It aims at the would-be nurse to improve their self-reliance and make them assess themselves through a critical and reflexive approach. Indeed, the portfolio is mostly made up of sheets that the student has to fill in when describing and analysing several professional conditions. This study is about the assessment of the relevance in the portfolio that each nurse student owns in order to make them improve their reflexive practical. The work will, thus, suggest different ways of thinking and improving the use of the tool. 30 portfolios were chosen randomly among the 2nd year students, because 180 analysis were assessed thanks to a grid. 10 viewpoints from volunteer students were gathered after several semi directive interviews. The qualitative and evaluative analysis shows that the students develop the reflexive practical throughout their trainings. It seems, indeed, relevant to choose the portfolio in order to help the students to develop this way of working. According to them, there are several positive points such as the distance towards an event, an awareness-raising of the acquisition, feedbacks about the quality of the text by the trainer and an ability to assess oneself. Yet, even though it was created 18 months ago, there are some limits such as the too short period of mentoring and feedback, the lack of time for the students to write their analysis, the fact that it is not a practical tool, and the unclear description of assessment criteria. In order to fulfil the needs, some solutions are to be found. The portfolio is clearly helpful for the students who wish to increase/improve gradually their reflexive practice. Thus, the trainer's role is crucial, when he is a supervisor.

  1. 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…

  2. Inter-rater reliability of healthcare professional skills' portfolio assessments: The Andalusian Agency for Healthcare Quality model

    Directory of Open Access Journals (Sweden)

    Antonio Almuedo-Paz

    2014-07-01

    Full Text Available This study aims to determine the reliability of assessment criteria used for a portfolio at the Andalusian Agency for Healthcare Quality (ACSA. Data: all competences certification processes, regardless of their discipline. Period: 2010-2011. Three types of tests are used: 368 certificates, 17,895 reports and 22,642 clinical practice reports (N = 3,010 candidates. The tests were evaluated in pairs by the ACSA team of raters using two categories: valid and invalid. Results: The percentage agreement in assessments of certificates was 89,9%, while for the reports of clinical practice was 85,1 % and for clinical practice reports was 81,7%. The inter-rater agreement coefficients (kappa ranged from 0,468 to 0,711. Discussion: The results of this study show that the inter-rater reliability of assessments varies from fair to good. Compared with other similar studies, the results put the reliability of the model in a comfortable position. Among the improvements incorporated, progressive automation of evaluations must be highlighted.

  3. 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....

  4. The Determinants of Home Bias in Stock Portfolio: An Emerging and Developed Markets Study

    OpenAIRE

    Chniguir , Mounira; Kefi , Mohamed; Henchiri , Jamel ,

    2017-01-01

    International audience; The objective of this paper is to measure the degree of home bias (HB) within holdings portfolio and to identify their determining factors. By following literature and an international capital asset pricing model, we have chosen quite a number of susceptible factors that impact HB. This model is, hence, estimated for 20 countries, with cross-section econometrics, between 2008 and 2013. Our results show that all countries have recorded a high level of HB in their holdin...

  5. Urban Quality Development & Management

    DEFF Research Database (Denmark)

    Lehmann, Martin; Fryd, Ole

    2008-01-01

    Purpose: The purpose of this article is to describe and discuss the development and the structure of a new international master on the subject of Urban Quality Development & Management, and explore the potential of the process and the outcome in serving as models adoptable by faculty at other......: Urban quality development and management is dependent on human resource development, institutionalised networks and confident exchange of knowledge, and must identify and incorporate multiple environmental, social, economic and cultural aspects. The authors find that at the core of innovative societies......, an interlinkage exists between practice (business, civil society, governance) and theory (research, education). The case illustrates how a new curriculum takes time to develop and implement and how it relies on confidence and trust between partners, in this case cities and universities, before being able to plant...

  6. 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...

  7. 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...

  8. 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.

  9. "Contagion" between the emerging and developed capital markets: empirical evidence and reflections on the international portfolio diversification

    Directory of Open Access Journals (Sweden)

    Wagner Moura Lamounier

    2008-10-01

    Full Text Available In this research, we analyzed the short and long term interdependence and relationship between the stock indices of the major emerging capital markets and the major developed markets for the period 1995-2005. The aim was to verify the existence and the dynamics of the “contagion” between the markets, or if the occurrence of crises and changes in the behavior of a market would have impacts on the behavior of the others. In the development of the work, we applied the methodology of the Vector Error Correction Model (VEC. We found the presence of cointegrating relationships between the markets analyzed, but was able to see that, despite being cointegrated markets, investors could benefit from international diversification of portfolios. That’s because the speed of adjustment of the long-term ratio of cointegration between the markets was low for the period analyzed. Accordingly, investors would have the opportunity to reduce risk by diversifying their portfolios.

  10. Enhancing New Product Development (NPD Portfolio Performance by Shaping the Development Funnel

    Directory of Open Access Journals (Sweden)

    Paulo Soares Figueiredo

    2012-12-01

    Full Text Available New product development (NPD projects are typically managed through a series of screens, or gates, where ideas compete for resources. Ideas are carved into projects, and these projects are reviewed, and approved or terminated through the screening process so that only the best performing projects continue to subsequent stages of design, development and testing, and are released into the market place (Krishnan and Ulrich 2001; Terwiesch and Ulrich 2009. Most large innovative organizations deal with more than one NPD project at a time and typically engage in product pipeline management (PPM, where a set of active projects are evaluated together while they traverse through a sequence of such screens. Key decisions in a R&D pipeline are: screen thresholds, complexity of projects, resource allocation and capacity adjustment biases. We explore the impact of structural and behavioral aspects of these decisions through a simulation based analysis of a pharmaceutical dataset. Results establish concave relationships between value created at the end of pipeline and the resource allocation and complexity allocation biases, indicating optimizability and a limit for front loading practices.

  11. A Research Experience Using Portfolios for Assessing College Teaching

    Science.gov (United States)

    Cisneros-Cohernour, Edith J.; Stake, Robert E.

    2014-01-01

    In this article, we use the findings of a study conducted in a university in the southeast of Mexico to examine strengths and limitations of portfolios to assess formatively the quality of teaching. The research is part of the study: Model for the Development and Evaluation of Academic Competencies, involving researchers from six Mexican…

  12. A Many-Objective Approach to Developing Adaptive Water Supply Portfolios in the 'Research Triangle' Region of North Carolina

    Science.gov (United States)

    Zeff, H. B.; Kasprzyk, J. R.; Reed, P. M.; Characklis, G. W.

    2012-12-01

    This study uses many-objective evolutionary optimization to quantify the tradeoffs water utilities face when developing flexible water shortage response plans. Alternatives to infrastructure development, such as temporary demand management programs and inter-utility water transfer agreements, allow local water providers to develop portfolios of water supply options capable of adapting to changing hydrologic conditions and growing water demand. The extent to which these options are implemented will be determined by a number of conflicting operational and financial considerations. An integrated reservoir simulation model including four large water utilities in the 'Research Triangle' region of North Carolina is used to evaluate the potential tradeoffs resulting from regional demands on shared infrastructure, customer concerns, and the financial uncertainty caused by the intermittent and irregular nature of drought. Instead of providing one optimal solution, multi-objective evolutionary algorithms (MOEAs) use the concept of non-dominations to discover a set of portfolio options in which no solution is inferior to any other solution in all objectives. Interactive visual analytics enable water providers to explore these tradeoffs and develop water shortage response plans tailored to their individual circumstances. The simulation model is evaluated under a number of different formulations to help identify and visualize the impacts of water efficiency, revenue/cost variability, consumer effects, and inter-utility cooperation. The different problems are formulated by adding portfolio options and objectives in such a way that the lower dimensional problem formulations are sub-sets of the full formulation. The full formulation considers reservoir reliability, water use restriction frequency, total water transfer allotment, total costs, revenue/cost variability, and additional consumer losses during restrictions. The simulation results highlight the inadequacy of lower order

  13. 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.

  14. An Empirical Exploration of the Antecedents and Outcomes of NPD Portfolio Success

    NARCIS (Netherlands)

    Kester, L.; Hultink, H.J.; Griffin, A.

    2013-01-01

    The manuscript first combines theory and previous empirical findings to build a model of new product development portfolio success. Because relationships between product development portfolio decision-making effectiveness, portfolio success and firm-level success have not previously been

  15. Using portfolios as a powerful strategy to foster and develop students writing skill in EFL

    Directory of Open Access Journals (Sweden)

    Daniel Albeiro Melgarejo M.

    2006-02-01

    Full Text Available This article emphasises on the use of portfolios as a powerful strategy to monitor the students’ writing performance in EFL and foster their writing production by means of taking advantage of their interests and beliefs when creating different types of compositions. Some of the ideas included in this article come from a large project research carried out with children between 9 and 13 years old who were in the Intermediate level of “Cursos de Extensión” at Universidad Pedagó- gica Nacional. The data analysis component is still in process and it is part of the thesis proposed by the author for the Master in Applied Linguistics for the TEFL at Universidad Distrital “Francisco José de Caldas”.

  16. 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...

  17. 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...

  18. Differences and simIlarities in the use of the portfolio and personal development plan for guidance in various vocational schools in the Netherlands

    NARCIS (Netherlands)

    Mittendorff, K.M.; Jochems, W.M.G.; Meijers, F.; Brok, den P.J.

    2008-01-01

    In The Netherlands, a growing number of vocational education and training institutes are implementing competence-based approaches to learning, including new career guidance practices. These practices often involve instruments such as portfolios or personal development plans, and are aimed at

  19. DEVELOPING A MODULAR PORTFOLIO SELECTION MODEL FOR SHORT-TERM AND LONGTERM MARKET TRENDS AND MASS PSYCHOLOGY

    Directory of Open Access Journals (Sweden)

    M. Jasemi

    2012-01-01

    Full Text Available

    ENGLISH ABSTRACT: In an effort to model stock markets, many researchers have developed portfolio selection models to maximise investor satisfaction. However, this field still needs more accurate and comprehensive models. Development of these models is difficult because of unpredictable economic, social, and political variables that affect stock market behaviour. In this paper, a new model with three modules for portfolio optimisation is presented. The first module derives the efficient frontier through a new approach; the second presents an intelligent mechanism for emitting trading signals; while the third module integrates the outputs of the first two modules. Some important features of the model in comparison with others are: 1 consideration of investors’ emotions – the psychology of the market – that arises from the three above-mentioned factors; 2 significant loosening of simplifying assumptions about markets and stocks; and 3 greater sensitivity to new data.

    AFRIKAANSE OPSOMMING: In ‘n poging om aandelemarkte te modelleer het verskeie navorsers portefeulje-seleksiemodelle ontwikkel om beleggers se tevredenheid te maksimiseer. Desnieteenstaande word meer akkurate en omvattende modelle benodig. Die ontwikkeling van hierdie modelle word bemoeilik deur die onvoorspelbare ekonomiese, sosiale en politiese veranderlikes wat aandelemarkte se gedrag raak. In hierdie artikel word ‘n nuwe model voorgehou wat bestaan uit drie modules vir portefeulje-optimisering. Die eerste module bepaal die doelmatigheidsgrens op ‘n nuwe metode; die tweede hou ‘n intelligente meganisme voor om transaksieseine te lewer terwyl die derde module die uitsette van die eerste twee modules integreer. Sommige van die belangrike eienskappe van die model wat dit van ander onderskei is: 1 konsiderasie van die beleggers se emosies – die sielkunde van die mark – wat ontstaan vanweë die genoemde faktore; 2 betekenisvolle verslapping van die

  20. Save water to save carbon and money: developing abatement costs for expanded greenhouse gas reduction portfolios.

    Science.gov (United States)

    Stokes, Jennifer R; Hendrickson, Thomas P; Horvath, Arpad

    2014-12-02

    The water-energy nexus is of growing interest for researchers and policy makers because the two critical resources are interdependent. Their provision and consumption contribute to climate change through the release of greenhouse gases (GHGs). This research considers the potential for conserving both energy and water resources by measuring the life-cycle economic efficiency of greenhouse gas reductions through the water loss control technologies of pressure management and leak management. These costs are compared to other GHG abatement technologies: lighting, building insulation, electricity generation, and passenger transportation. Each cost is calculated using a bottom-up approach where regional and temporal variations for three different California water utilities are applied to all alternatives. The costs and abatement potential for each technology are displayed on an environmental abatement cost curve. The results reveal that water loss control can reduce GHGs at lower cost than other technologies and well below California's expected carbon trading price floor. One utility with an energy-intensive water supply could abate 135,000 Mg of GHGs between 2014 and 2035 and save--rather than spend--more than $130/Mg using the water loss control strategies evaluated. Water loss control technologies therefore should be considered in GHG abatement portfolios for utilities and policy makers.

  1. 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.

  2. 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...

  3. THE DEVELOPMENT OF THEMATIC – INTEGRATED E-PORTFOLIO MEDIA WEB BLOG BASED TO INCREASE THE SCIENTIFIC LITERACY OF ELEMENTARY TEACHER EDUCATION PROGRAM’S STUDENT

    Directory of Open Access Journals (Sweden)

    A. Wijayanti

    2016-10-01

    Full Text Available The aim of this study is to improve the scientific literacy of Elementary Teacher Education Program’s students using a valid thematic-integrated e-portfolio media web blog based. Applied research and development methods for elementary school’s course planning by applying thematic-integrated e-portfolio media web blog based. The result of media and evaluation experts recommend that e-portfolio which has been developed gets 98.75% of eligibility percentage which means that it is very decent to be used in the lecturing.  Thematic-Integrated e-portfolio media web blog based effectively improves the scientific literacy of students to reach multidimensional level, in which students are able to take advantage of various concepts and demonstrate the ability to connect these concepts to daily life.  Students understand how science, society and technology are interrelated and influence each other. Students also demonstrate an understanding of the nature of science through his answer.

  4. 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...

  5. Using cost-effectiveness analysis to support research and development portfolio prioritization for product innovations in measles vaccination.

    Science.gov (United States)

    Garrison, Louis P; Bauch, Chris T; Bresnahan, Brian W; Hazlet, Tom K; Kadiyala, Srikanth; Veenstra, David L

    2011-07-01

    Several potential measles vaccine innovations are in development to address the shortcomings of the current vaccine. Funders need to prioritize their scarce research and development resources. This article demonstrates the usefulness of cost-effectiveness analysis to support these decisions. This study had 4 major components: (1) identifying potential innovations, (2) developing transmission models to assess mortality and morbidity impacts, (3) estimating the unit cost impacts, and (4) assessing aggregate cost-effectiveness in United Nations Children's Fund countries through 2049. Four promising technologies were evaluated: aerosol delivery, needle-free injection, inhalable dry powder, and early administration DNA vaccine. They are projected to have a small absolute impact in terms of reducing the number of measles cases in most scenarios because of already improving vaccine coverage. Three are projected to reduce unit cost per dose by $0.024 to $0.170 and would improve overall cost-effectiveness. Each will require additional investments to reach the market. Over the next 40 years, the aggregate cost savings could be substantial, ranging from $98.4 million to $689.4 million. Cost-effectiveness analysis can help to inform research and development portfolio prioritization decisions. Three new measles vaccination technologies under development hold promise to be cost-saving from a global perspective over the long-term, even after considering additional investment costs. © The Author 2011. Published by Oxford University Press on behalf of the Infectious Diseases Society of America. All rights reserved.

  6. Using an Integrated Hydrologic-Economic Model to Develop Minimum Cost Water Supply Portfolios and Manage Supply Risk

    Science.gov (United States)

    Characklis, G. W.; Ramsey, J.

    2004-12-01

    Water scarcity has become a reality in many areas as a result of population growth, fewer available sources, and reduced tolerance for the environmental impacts of developing the new supplies that do exist. As a result, successfully managing future water supply risk will become more dependent on coordinating the use of existing resources. Toward that end, flexible supply strategies that can rapidly respond to hydrologic variability will provide communities with increasing economic advantages, particularly if the frequency of more extreme events (e.g., drought) increases due to global climate change. Markets for established commodities (e.g., oil, gas) often provide a framework for efficiently responding to changes in supply and demand. Water markets, however, have remained relatively crude, with most transactions involving permanent transfers and long regulatory processes. Recently, interest in the use of flexible short-term transfers (e.g., leases, options) has begun to motivate consideration of more sophisticated strategies for managing supply risk, strategies similar to those used in more mature markets. In this case, communities can benefit from some of the advantages that water enjoys over other commodities, in particular, the ability to accurately characterize the stochastic nature of supply and demand through hydrologic modeling. Hydrologic-economic models are developed for two different water scarce regions supporting active water markets: Edward Aquifer and Lower Rio Grande Valley. These models are used to construct portfolios of water supply transfers (e.g., permanent transfers, options, and spot leases) that minimize the cost of meeting a probabilistic reliability constraint. Real and simulated spot price distributions allow each type of transfer to be priced in a manner consistent with financial theory (e.g., Black-Scholes). Market simulations are integrated with hydrologic models such that variability in supply and demand are linked with price behavior

  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. 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…

  9. 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…

  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. ALPHA-BETA SEPARATION PORTFOLIO STRATEGIES FOR ISLAMIC FINANCE

    OpenAIRE

    Valentyn Khokhlov

    2016-01-01

    The purpose of this paper is to develop a mathematical alpha-beta separation model that can be used to create a core-satellite portfolio management strategy that complies with the principles of Islamic finance. Methodology. Core-satellite portfolio construction methodology is used to implement the alpha-beta separation approach, where the core part of the portfolio is managed using the tracking error minimization strategy, and the satellite part of the portfolio is managed using the mean-vari...

  12. Supporting the development process for building products by the use of research portfolio analysis: A case study for wood plastics composite materials

    OpenAIRE

    Friedrich, Daniel; Luible, Andreas

    2016-01-01

    Today’s plastics are increasingly compounded using renewable fibres. Such composites raised the interest of the massively bulk-plastics consuming building industry. However, “green” products are still rare and their development constitutes a challenge particularly for small companies. Our study evaluated European scientific projects in composites from which we derived a Research Portfolio serving as future matrix for ideation. It was found that research databanks can serve as basis for str...

  13. Portfolio Optimization in a Semi-Markov Modulated Market

    International Nuclear Information System (INIS)

    Ghosh, Mrinal K.; Goswami, Anindya; Kumar, Suresh K.

    2009-01-01

    We address a portfolio optimization problem in a semi-Markov modulated market. We study both the terminal expected utility optimization on finite time horizon and the risk-sensitive portfolio optimization on finite and infinite time horizon. We obtain optimal portfolios in relevant cases. A numerical procedure is also developed to compute the optimal expected terminal utility for finite horizon problem

  14. 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...

  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. 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.

  17. The Quality of Communication in the Context of Regional Development

    Directory of Open Access Journals (Sweden)

    Lenka Ližbetinová

    2014-12-01

    Full Text Available Public administration of the Czech Republic is currently in the process of improving services by introducing systems and principles of quality management. This process is also supported by the New Strategic Framework for the Development of Public Administration of the Czech Republic for the period 2014 -2020th and the National Strategy for Quality Policy in the Czech Republic for the period 2011 to 2015th. The issue of regional development depends on functional and effective cooperation between public authorities, business portfolio and the public. Implementation of individual projects aimed at regional development cannot be successful if effective and efficient communication strategy is not implemented. The basic requirements that are required from communication links with respect to communication aims can be defined by using the principles and rules of quality management. By respecting these requirements, it is possible to provide an appropriate mix of communication tools in the strategic planning of communication events. Selecting and setting effective communication tools can be made by methods of multi-criteria evaluation of alternatives. For this objective it is possible to use the AHP method, which takes into account the specifics of the decision-making process in the conditions communication management development projects. Better communication of quality management in projects aimed at regional development can be obtained by applying these methods. The aim of the paper is the proposal of one possible solution methodologies optimal choice of communication tools in the context of strategic communication planning regional development projects.

  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. Trust Fund Support for Development : An Evaluation of the World Bank's Trust Fund Portfolio

    OpenAIRE

    Independent Evaluation Group

    2011-01-01

    In the changing global environment of development cooperation, trust funds have emerged as a significant pillar of the global aid architecture, used to address limitations in bilateral aid and fill perceived gaps in the operations of existing multilateral institutions. They currently account for about 11 percent of official development assistance (ODA), and they finance a substantial part ...

  20. The value of eJournals to support ePortfolio development for assessment in teacher education

    Directory of Open Access Journals (Sweden)

    Susan Crichton

    2009-04-01

    Full Text Available This paper presents findings from a two-year pilot project into the use of ePortfolios as a tool for assessment in a two year, field-oriented, inquiry-based teacher preparation program. Participants consisted of five cohorts of pre-service student teachers and five instructors; interviews, focus groups, artifacts, and project meetings provided the raw data for analysis. The originality of this work rests in the importance of establishing an eJournal to accompany the ePortfolio. Based on our findings in this action research study, we challenge and add to the existing ePortfolio literature around such issues as ePortfolio project design, process vs. product, the use of templates, social software, and documentation. Résumé : Cet article présente les résultats d’un projet pilote de deux ans portant sur l’utilisation des portfolios électroniques comme outil d’évaluation au sein d’un programme de préparation des enseignants axé sur la recherche et la pratique d’une durée de deux ans. Les participants se composaient de cinq cohortes d’étudiants en enseignement non encore sur le marché du travail ainsi que de cinq instructeurs; les données brutes qui ont été analysées proviennent d’entretiens, de groupes de discussion, d’artefacts et de réunions de projet. L’originalité de ce travail réside dans l’importance attachée à la création d’un journal électronique pour accompagner le portfolio. Sur la base de nos conclusions dans cette étude de recherche appliquée, nous remettons en question la documentation existante tout en y contribuant sur des sujets tels que la conception du projet de portfolio électronique, la comparaison du processus et du produit, l’utilisation de modèles, les logiciels sociaux et la documentation.

  1. Research and development portfolio of the sustainability science team national sustainable operations USDA Forest Service

    Science.gov (United States)

    Trista Patterson; David Nicholls; Jonathan Long

    2015-01-01

    The Sustainability Science Team (SST) of the U.S. Department of Agriculture (USDA) Forest Service Sustainable Operations Initiative is a 18-member virtual research and development team, located across five regions and four research stations of the USDA Forest Service. The team provides research, publication, systems analysis, and decision support to the Sustainable...

  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. Evaluation of the personal development portfolio in higher education: an explorative study.

    Science.gov (United States)

    Head, Kevin S; Johnston, Jacqueline H

    2012-11-01

    Personal Development Profiles (PDPs) have been an important and necessary feature of United Kingdom (UK) Higher Education for more than a decade. There is significant agreement as to their core purpose and their key features are of relevance to higher education institutions internationally, irrespective of whether an equivalent formal system or process is in place. The aim of this exploratory study was to evaluate the use of PDPs within a Child Health Nursing Programme in a UK University, looking at the experiences of both teaching staff and of students coming to the end of their three year programme of study. A convenience sample of final year pre-registration Child Health Nursing students and their lecturers was used for the purposes of this study with mixed methods of collection used to generate the required data. A survey was conducted with questionnaires. Following the analysis of the questionnaires, a discussion group was undertaken with the students. A series of questions was developed to guide this discussion. The structure offered by the system of PDPs evaluated here was seen to offer much in the way of potential value. Staff saw it as offering direction, a tool for discussion and a clear time and reason for meeting their students. Students similarly appreciated the structure it provided, but did describe it as somewhat repetitive. These findings were clearly of use in terms of evaluating this ongoing work, but also offer the potential to inform the work of other educational institutions. Copyright © 2011 Elsevier Ltd. All rights reserved.

  4. 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.

  5. 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…

  6. The Sheffield RNAi Screening Facility (SRSF): portfolio growth and technology development.

    Science.gov (United States)

    Brown, Stephen

    2014-05-01

    The Sheffield RNAi Screening Facility (SRSF) (www.rnai.group.shef.ac.uk) was established in 2008 with Wellcome Trust and University of Sheffield funding, with the task to provide the first UK RNAi screening resource for academic groups interested in identifying genes required in a diverse range of biological processes using Drosophila cell culture. The SRSF has carried out a wide range of screens varying in sizes from bespoke small-scale libraries, targeting a few hundred genes, to high-throughput, genome-wide studies. The SRSF has grown and improved with a dedicated partnership of its academic customers based mainly in the UK. We are part of the UK Academics Functional Genomics Network, participating in organizing an annual meeting in London and are part of the University of Sheffield's D3N (www.d3n.org.uk), connecting academics, biotech and pharmaceutical companies with a multidisciplinary network in Drug Discovery and Development. Recently, the SRSF has been funded by the Yorkshire Cancer Research Fund to perform genome-wide RNAi screens using human cells as part of a core facility for regional Yorkshire Universities and screens are now underway. Overall the SRSF has carried out more than 40 screens from Drosophila and human cell culture experiments.

  7. 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

  8. 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)

  9. 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...

  10. Status of portfolios in undergraduate medical education in the LCME accredited US medical school.

    Science.gov (United States)

    Chertoff, Jason; Wright, Ashleigh; Novak, Maureen; Fantone, Joseph; Fleming, Amy; Ahmed, Toufeeq; Green, Marianne M; Kalet, Adina; Linsenmeyer, Machelle; Jacobs, Joshua; Dokter, Christina; Zaidi, Zareen

    2016-09-01

    We sought to investigate the number of US medical schools utilizing portfolios, the format of portfolios, information technology (IT) innovations, purpose of portfolios and their ability to engage faculty and students. A 21-question survey regarding portfolios was sent to the 141 LCME-accredited, US medical schools. The response rate was 50% (71/141); 47% of respondents (33/71) reported that their medical school used portfolios in some form. Of those, 7% reported the use of paper-based portfolios and 76% use electronic portfolios. Forty-five percent reported portfolio use for formative evaluation only; 48% for both formative and summative evaluation, and 3% for summative evaluation alone. Seventy-two percent developed a longitudinal, competency-based portfolio. The most common feature of portfolios was reflective writing (79%). Seventy-three percent allow access to the portfolio off-campus, 58% allow usage of tablets and mobile devices, and 9% involve social media within the portfolio. Eighty percent and 69% agreed that the portfolio engaged students and faculty, respectively. Ninety-seven percent reported that the portfolios used at their institution have room for improvement. While there is significant variation in the purpose and structure of portfolios in the medical schools surveyed, most schools using portfolios reported a high level of engagement with students and faculty.

  11. Reflections on clinical practice whilst developing a portfolio of evidence: Perceptions of undergraduate nursing students in the Western Cape, South Africa

    Directory of Open Access Journals (Sweden)

    Victoire Ticha

    2015-12-01

    Full Text Available Background: In order to develop clinical judgement, nurses should be encouraged to become analytical and critical thinkers. Development of a portfolio of evidence (PoE of reflection on clinical experiences is one of the strategies that can be used to enhance analytical and critical thinking amongst nursing students. Students’ perceptions of the process are important in order to encourage their reflective practice. PoE compilation at a school of nursing at a university in the Western Cape includes evidence of students’ clinical learning which they present in a portfolio. The students are expected to reflect on their clinical learning experiences and include these reflections in their portfolios. Objective: To describe the perceptions of fourth-year nursing students regarding reflective practice whilst compiling their PoEs. Method: A qualitative design was used to explore the perceptions of registered fourth-year nursing students with regard to their reflective practice whilst compiling their PoEs. Purposive sampling was used for selection of participants. Three focus group discussions were held, each consisting of six to eight participants. Data saturation was reached during the third meeting. Tesch’s method of data analysis was used. Results: Findings revealed that reflection enabled the learners to gain experience and identify challenges related to the expected events and tasks carried out at the hospitals and in the classroom whilst developing their PoE. Conclusion: The compilation of a PoE was a good teaching and learning strategy, and the skills, experience and knowledge that the participants in this study acquired boosted their self-esteem, confidence and critical thinking. Reflection also assisted in self-directed learning.

  12. 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.

  13. 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...

  14. 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,…

  15. 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

  16. 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...

  17. 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.

  18. 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...

  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. 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

  1. 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...

  2. 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,...

  3. 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.

  4. Transparency in the ePortfolio Creation Process

    Science.gov (United States)

    Jones, Stephanie A.; Downs, Elizabeth; Jenkins, Stephen J.

    2015-01-01

    This paper presents the findings of a study examining the effect of transparency on the ePortfolio creation process. The purpose of the study was to examine whether increased awareness of other students' ePortfolios through the implementation of transparency and peer review would positively affect the quality of performance of school library media…

  5. Evaluating the Validity of Portfolio Assessments for Licensure Decisions

    Science.gov (United States)

    Wilson, Mark; Hallam, P. J.; Pecheone, Raymond; Moss, Pamela A.

    2014-01-01

    This study examines one part of a validity argument for portfolio assessments of teaching practice used as an indicator of teaching quality to inform a licensure decision. We investigate the relationship among portfolio assessment scores, a test of teacher knowledge (ETS's Praxis I and II), and changes in student achievement (on…

  6. Forecasting Value-at-Risk Under Temporal and Portfolio Aggregation

    NARCIS (Netherlands)

    H.J.W.G. Kole (Erik); T.D. Markwat (Thijs); A. Opschoor (Anne); D.J.C. van Dijk (Dick)

    2016-01-01

    textabstractWe examine the impact of temporal and portfolio aggregation on the quality of Value-at-Risk (VaR) forecasts over a horizon of ten trading days for a well-diversified portfolio of stocks, bonds and alternative investments. The VaR forecasts are constructed based on daily, weekly or

  7. Behavioral optimization models for multicriteria portfolio selection

    Directory of Open Access Journals (Sweden)

    Mehlawat Mukesh Kumar

    2013-01-01

    Full Text Available In this paper, behavioral construct of suitability is used to develop a multicriteria decision making framework for portfolio selection. To achieve this purpose, we rely on multiple methodologies. Analytical hierarchy process technique is used to model the suitability considerations with a view to obtaining the suitability performance score in respect of each asset. A fuzzy multiple criteria decision making method is used to obtain the financial quality score of each asset based upon investor's rating on the financial criteria. Two optimization models are developed for optimal asset allocation considering simultaneously financial and suitability criteria. An empirical study is conducted on randomly selected assets from National Stock Exchange, Mumbai, India to demonstrate the effectiveness of the proposed methodology.

  8. 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)

  9. 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...

  10. Development on quality management concepts

    OpenAIRE

    Dragan Cristian; Stanca Costel

    2011-01-01

    The purpose of this paper is to perform an analysis of the history of the Total Quality Management (TQM) in the private sector, taking a closer look at its five stages in the Western hemisphere: quality inspection, statistical quality control, system-oriented quality assurance, company-wide quality control, total quality management

  11. Gaming Change: A Many-objective Analysis of Water Supply Portfolios under Uncertainty

    Science.gov (United States)

    Reed, P. M.; Kasprzyk, J.; Characklis, G.; Kirsch, B.

    2008-12-01

    This study explores the uncertainty and tradeoffs associated with up to six conflicting water supply portfolio planning objectives. A ten-year Monte Carlo simulation model is used to evaluate water supply portfolios blending permanent rights, adaptive options contracts, and spot leases for a single city in the Lower Rio Grande Valley. Historical records of reservoir mass balance, lease pricing, and demand serve as the source data for the Monte Carlo simulation. Portfolio planning decisions include the initial volume and annual increases of permanent rights, thresholds for an adaptive options contract, and anticipatory decision rules for purchasing leases and exercising options. Our work distinguishes three cases: (1) permanent rights as the sole source of supply, (2) permanent rights and adaptive options, and (3) a combination of permanent rights, adaptive options, and leases. The problems have been formulated such that cases 1 and 2 are sub-spaces of the six objective formulation used for case 3. Our solution sets provide the tradeoff surfaces between portfolios' expected values for cost, cost variability, reliability, frequency of purchasing permanent rights increases, frequency of using leases, and dropped (or unused) transfers of water. The tradeoff surfaces for the three cases show that options and leases have a dramatic impact on the marginal costs associated with improving the efficiency and reliability of urban water supplies. Moreover, our many-objective analysis permits the discovery of a broad range of high quality portfolio strategies. We differentiate the value of adaptive options versus leases by testing a representative subset of optimal portfolios' abilities to effectively address regional increases in demand during drought periods. These results provide insights into the tradeoffs inherent to a more flexible, portfolio-style approach to urban water resources management, an approach that should become increasingly attractive in an environment of

  12. Dematerialization, development and environmental quality

    International Nuclear Information System (INIS)

    Bernardini, O.; Galli, R.

    1992-01-01

    An analysis of post WW II trends in intensity of materials use (materials consumption versus gross national product) in industrialized countries indicates significant reductions due to the saturation of market demand, materials recycling (in Japan, 60% of some metals used in production processes come from recycled scrap), technological innovations, materials substitution and energy efficiency programs (e.g., the ratio between materials content and power in industrial boilers has been greatly reduced, fiber optics cables, with up to 40 times greater capacity than copper cables, are replacing the latter in telecommunications). The reduced demand for prime materials, a major source of income for developing countries, and uncontrolled population dynamics now makes it increasingly more difficult for these countries to improve their standards of living and convert to clean energy and production technologies being developed and used in the industrialized countries. Greater international cooperation is needed to enable and ensure the transfer of innovative technologies favouring economic development and environmental quality to developing countries

  13. Portfolio-Scale Optimization of Customer Energy Efficiency Incentive and Marketing: Cooperative Research and Development Final Report, CRADA Number CRD-13-535

    Energy Technology Data Exchange (ETDEWEB)

    Brackney, Larry J. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2016-02-17

    North East utility National Grid (NGrid) is developing a portfolio-scale application of OpenStudio designed to optimize incentive and marketing expenditures for their energy efficiency (EE) programs. NGrid wishes to leverage a combination of geographic information systems (GIS), public records, customer data, and content from the Building Component Library (BCL) to form a JavaScript Object Notation (JSON) input file that is consumed by an OpenStudio-based expert system for automated model generation. A baseline model for each customer building will be automatically tuned using electricity and gas consumption data, and a set of energy conservation measures (ECMs) associated with each NGrid incentive program will be applied to the model. The simulated energy performance and return on investment (ROI) will be compared with customer hurdle rates and available incentives to A) optimize the incentive required to overcome the customer hurdle rate and B) determine if marketing activity associated with the specific ECM is warranted for that particular customer. Repeated across their portfolio, this process will enable NGrid to substantially optimize their marketing and incentive expenditures, targeting those customers that will likely adopt and benefit from specific EE programs.

  14. Quality development of Danish strawberries

    DEFF Research Database (Denmark)

    Østergaard, Peder; Stacey, Julia

    1999-01-01

    The quality of fruit and berries has often been the topic of debate and Danish strawberries have been both praised and criticized. Therefore the Danish Institute of Agricultural Sciences, Danish Fruit Growers' Association, the Danish Veterinary and Food Administration and MAPP have joined together...... in a project about quality assurance of strawberries. One purpose of the project has been to provide systematic knowledge about Danish consumers' attitudes towards strawberries, knowledge, buying behaviour and consumption of strawberries. Another purpose has been to take an active part in the development...... of new strawberry varieties and growing methods and also to support better distribution and sale of strawberries. During 1999, focus group interviews and a representative study with 1174 householdswere carried out. In-home tests of existing and new varieties of strawberries will be carried out during...

  15. 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.

  16. Mortgage loans: an analysis of the portfolios of the largest banks in Brazil

    Directory of Open Access Journals (Sweden)

    Bruno Vinícius Ramos Fernandes

    2013-05-01

    Full Text Available Given the current macroeconomic environment experienced in Brazil, where inflation has stabilized and the basic interest rate of the economy is in one of their historical lows, demand for mortgages is increasing. In this context, the mortgage is presented with great emphasis to meet the demand for purchasing housing in addition to being a catalyst for the reduction of the high housing deficit. From a descriptive and empirical-analytic was analyzed the mortgage loan portfolio of the largest banks of the country between the years 2001 and 2010 through Quarterly Financial Information (IFT available on the Central Bank website. It was settled a comparative relationship between the data in order to check the development of mortgage portfolios over the years and the factors that influenced this evolution, and evaluate the timeliness and quality of those loans. For the evolution of the portfolio there was an economic context in which Brazil was included in the period, and observed that for most of these operations are long term the banks are more exposed to market risk. With regard to credit risk parse that, over the years, Brazilian banks are presenting a mortgage loan portfolio with lower risk, and it is found that institutions with real estate credits with higher levels of portfolio risk are subject to have higher losses on such operations in the possibility of default.

  17. Choosing an Optimal e-Portfolio System for the Institution

    OpenAIRE

    YAMAMOTO, Toshiyuki

    2010-01-01

    Implementing an e-Portfolio system to enhance educational processes and outcomes has been becoming a hot issue among the Japanese universities that are ambitious in resetting their mission statements. In such universities, defining purposes, clearly stating what to be focused, learning processes, and expected outcomes are the critical issues in the development of their original e-Portfolio system. However, not all institutions are aware that e-Portfolio has advantages and disadvantages. One o...

  18. 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...

  19. 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.

  20. Portfolio at Tertiary Level – Lifelong Learning Tool

    Directory of Open Access Journals (Sweden)

    Galina Kavaliauskienė

    2011-04-01

    Full Text Available The use of electronic language portfolios has been preferable to the use of common paper portfolios for ease of application – there is no need for accumulating a number of files of written papers, which solves the problem of storing space and, to some extent, helps reduce students’ and teachers’ workload.The study investigated learners’ perceptions of employing electronic language portfolios for conducting various assignments in English for Specific Purposes. The research involved university students of different specializations. Learners’ experience of employing portfolios and opinions on their benefits for improving language skills have been analyzed and statistically treated using SPSS software. The results show that students are positive about application of electronic portfolios in ESP classes. The use of online portfolios for various assignments helps teachers foster students’ learning, encourages critical thinking, develops creativity, motivates learners to use digital technology, encourages collaboration of learners, and in the long run, leads to lifelong learning.

  1. Power from Perspective: Potential future United States energy portfolios

    International Nuclear Information System (INIS)

    Tonn, Bruce; Healy, K.C.; Gibson, Amy; Ashish, Ashutosh; Cody, Preston; Beres, Drew; Lulla, Sam; Mazur, Jim; Ritter, A.J.

    2009-01-01

    This paper presents United States energy portfolios for the year 2030, developed from seven different Perspectives. The Perspectives are characterized by different weights placed on fourteen defining values (e.g., cost, social acceptance). The portfolios were constructed to achieve three primary goals, energy independence, energy security, and greenhouse gas reductions. The portfolios are also evaluated over a comprehensive set of secondary criteria (e.g., economic growth, technical feasibility). It is found that very different portfolios based on very different defining values can achieve the three primary goals. Commonalities among the portfolios include reliance upon cellulosic ethanol, nuclear power, and energy efficiency to meet year 2030 energy demands. It is concluded that the US energy portfolio must be diverse and to achieve national energy goals will require an explicit statement of goals, a strong role for government, and coordinated action across society

  2. 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.

  3. On the microeconomic problems studied by portfolio theory

    Science.gov (United States)

    Nikonov, Oleg; Medvedeva, Marina

    2012-09-01

    In the paper we consider economically motivated problems, which are treated with the help of methods of portfolio theory that goes back to the papers by H. Markowitz [1] and J. Tobin [2]. We show that the portfolio theory initially developed for risky securities (stocks) could be applied to other objects. In the present paper we consider several situations where such an application is reasonable and seems to be fruitful. Namely, we consider the problems of constructing the efficient portfolio of banking services and the portfolio of counteragents of a firm.

  4. 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...

  5. 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.

  6. Constructing a reflective portfolio tool: an action research on the student teachers' perceptions of their experiences

    OpenAIRE

    Zeki, Canan Perkan

    2010-01-01

    My interest into reflection and portfolio construction was developed during the 2005 Contexts for Teacher Education Module on the EdD course at the Nottingham University. Experiencing and observing some significant problems with the current portfolio stimulated me to undertake a study on portfolio construction by integrating reflection into it. The aim of this study was to examine student teachers’ perceptions of their experiences of constructing a portfolio in order to develop a more reflect...

  7. 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.

  8. Product Portfolio Management: An Important Business Strategy

    Directory of Open Access Journals (Sweden)

    Doorasamy Mishelle

    2015-06-01

    Full Text Available The aim of this article is to provide reader with a comprehensive insight on the theories, empirical findings and models of Product Portfolio Management (PPM during new product development. This article will allow for an in-depth theoretical approach on PPM and demonstrate to managers the importance of adopting PPM as business strategy during decision making. The objective of this paper is to present a literature review of models, theories, approaches and findings on the relationship between Product Portfolio Management and new product development. Relevant statistical trends, historical developments, published opinion of major writers in this field will be presented to provide concrete evidence of the problem being discussed.

  9. 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.

  10. 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.

  11. 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…

  12. 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

  13. Using ePortfolios to Encourage Responsible Feedback

    Science.gov (United States)

    Morales, Lucia; Soler-Dominguez, Amparo

    2015-01-01

    This article aims to look at the value that ePortfolios can add to business studies, specifically in the financial field. In order to answer the question, "Do ePortfolios contribute to the development and enhancement of responsible feedback in the classroom?", the study analyzed the work done by postgraduate students pursuing a Master's…

  14. Functions of the learning portfolio in student teachers' learning process

    NARCIS (Netherlands)

    Mansvelder-Longayroux, D.D.; Beijaard, D.; Verloop, N.; Vermunt, J.D.

    2007-01-01

    In this study, we aimed to develop a framework that could be used to describe the value of the learning portfolio for the learning process of individual student teachers. Retrospective interviews with 21 student teachers were used, as were their portfolio-evaluation reports on their experiences of

  15. Functions of the learning portfolio in student teachers' learning process

    NARCIS (Netherlands)

    Mansvelder-Longayroux, Desiree D.; Beijaard, Douwe; Verloop, Nico; Vermunt, Jan D.

    In this study, we aimed to develop a framework that could be used to describe the value of the learning portfolio for the learning process of individual student teachers. Retrospective interviews with 21 student teachers were used, as were their portfolio-evaluation reports on their experiences Of

  16. ALPHA-BETA SEPARATION PORTFOLIO STRATEGIES FOR ISLAMIC FINANCE

    Directory of Open Access Journals (Sweden)

    Valentyn Khokhlov

    2016-11-01

    Full Text Available The purpose of this paper is to develop a mathematical alpha-beta separation model that can be used to create a core-satellite portfolio management strategy that complies with the principles of Islamic finance. Methodology. Core-satellite portfolio construction methodology is used to implement the alpha-beta separation approach, where the core part of the portfolio is managed using the tracking error minimization strategy, and the satellite part of the portfolio is managed using the mean-variance optimization strategy. Results of the portfolio dynamics clearly show that a significant amount of value was created by alpha-beta separation. The typical alpha ranges from 4% to 5.7%. The most aggressive portfolio strategies that allow short positions in the satellite portfolio work best with frequent rebalancing and benefit from the active bets. Smoothing technique that was introduced to decrease the portfolio turnover and stabilize its composition works better when active bets are less efficient, particularly with less frequent rebalancing. The best risk-return combinations are achieved with modest (3% to 10% allocation of the total portfolio to the satellite, and the remaining part (90% to 97% being managed in order to minimize the tracking error. Practical implications. The alpha-beta separation framework suggested in this paper can be used to enhance the portfolio management techniques for the hedge funds that operate under tight restrictions, particularly under the Islamic finance principles. The mathematical models developed in this paper allow practical implementation of the alphabeta separation concept. Originality/value. While the idea of alpha-beta separation existed in hedge fund management before, there was no comprehensive mathematical model under it, so its implementation was based on the ad hoc approach. This paper introduces such a mathematical model and demonstrates how portfolio managers can create value for their clients using it.

  17. Student Chemical Engineering Reflective ePortfolios--ChE Student Perceptions of Learning from Reflective ePortfolio Creation

    Science.gov (United States)

    Cherrstrom, Catherine A.; Raisor, Cindy; Fowler, Debra

    2015-01-01

    Engineering educators and employers value and prioritize communication skills, but developing and assessing such skills in engineering programs is challenging. Reflective ePortfolios provide opportunities to enhance communication skills. The purpose of this three-­year qualitative case study was to investigate the use of reflective ePortfolios in…

  18. Two Portfolio Systems: EFL Students' Perceptions of Writing Ability, Text Improvement, and Feedback

    Science.gov (United States)

    Lam, Ricky

    2013-01-01

    Research into portfolio assessment ("PA") typically describes teachers' development and implementation of different portfolio models in their respective teaching contexts, however, not much attention is paid to student perceptions of the portfolio approach or its impact on the learning of writing. To this end, this study aims to…

  19. How Course Portfolios Can Advance the Scholarship and Practice of Management Teaching

    Science.gov (United States)

    New, J. Randolph; Clawson, James G.; Coughlan, Richard S.; Hoyle, Joe Ben

    2008-01-01

    The authors believe the development, peer review, and sharing of course portfolios can significantly improve the scholarship and teaching of management. To make this case, they provide background information about course portfolios, including origins, defining features, purposes, and potential benefits. They then identify actual portfolio projects…

  20. 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.

  1. 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)

  2. 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...

  3. 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.

  4. 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.

  5. 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.

  6. 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.

  7. Alternatives: the right medicine for your portfolio?

    Science.gov (United States)

    Doody, Dennis

    2006-01-01

    Because they often play an active role in developing their portfolio companies' strategies, private capital investment managers can add significant value to companies in their portfolio. The relative inefficiency of private capital markets can give savvy investors an edge that they can not so easily gain in the more efficient public markets. Originally created as a means to reduce volatility, hedge funds should not be seen as the high-risk bets that they are widely perceived to be. Most hedge funds actually are concerned with protecting downside risk.

  8. Selection of risk reduction portfolios under interval-valued probabilities

    International Nuclear Information System (INIS)

    Toppila, Antti; Salo, Ahti

    2017-01-01

    A central problem in risk management is that of identifying the optimal combination (or portfolio) of improvements that enhance the reliability of the system most through reducing failure event probabilities, subject to the availability of resources. This optimal portfolio can be sensitive with regard to epistemic uncertainties about the failure events' probabilities. In this paper, we develop an optimization model to support the allocation of resources to improvements that mitigate risks in coherent systems in which interval-valued probabilities defined by lower and upper bounds are employed to capture epistemic uncertainties. Decision recommendations are based on portfolio dominance: a resource allocation portfolio is dominated if there exists another portfolio that improves system reliability (i) at least as much for all feasible failure probabilities and (ii) strictly more for some feasible probabilities. Based on non-dominated portfolios, recommendations about improvements to implement are derived by inspecting in how many non-dominated portfolios a given improvement is contained. We present an exact method for computing the non-dominated portfolios. We also present an approximate method that simplifies the reliability function using total order interactions so that larger problem instances can be solved with reasonable computational effort. - Highlights: • Reliability allocation under epistemic uncertainty about probabilities. • Comparison of alternatives using dominance. • Computational methods for generating the non-dominated alternatives. • Deriving decision recommendations that are robust with respect to epistemic uncertainty.

  9. Investment risk management by applying contemporary modern portfolio theory

    Directory of Open Access Journals (Sweden)

    Jakšić Milena

    2015-01-01

    Full Text Available Investment risk is the principal threat to the assets side of the balance sheets of financial institutions. It is evident that investors who concentrate their wealth on one type of securities can rarely be found. Instead, they tend to invest diversified portfolio of securities. This reduces the degree of risk of the expected return, which depends both on the absolute risk of each investment in the portfolio, and the relationship that exists between individual investments within the portfolio. The paper analyzes the investment risk management by using modern portfolio theory in both national and global financial f lows. At the same time, the paper considers the risk management models that ensures efficient portfolio diversification, aiming at investment risk reduction. It is pointed out that the investment risk management in modern financial f lows is a complex process, and that the development of financial theory goes towards improving, soft risk management method.

  10. Linking quality goals and product development competences

    DEFF Research Database (Denmark)

    Olsen, Johanne Rønnow; Harmsen, Hanne; Friis, Alan

    2008-01-01

    Quality is a main determinant of consumer food choice. Product development is accordingly a key activity for companies, because it generates the products on the quality of which consumer choices are based. In this respect, product development managers have a focal role, as their personal quality......, including reversed laddering sessions with 18 product development managers. Discrepancies between managerial and consumer quality goals are uncovered. Furthermore, the results point to two general dilemmas faced by product development managers in relation to quality; an external stakeholder dilemma...... orientation influence the way product development is performed. The aim of this paper is to investigate managerial quality goals and how these may be linked to product development competences, which has not previously been studied. The study draws on an empirical, qualitative study in the Danish food industry...

  11. Developing a TQM quality management method model

    NARCIS (Netherlands)

    Zhang, Zhihai

    1997-01-01

    From an extensive review of total quality management literature, the external and internal environment affecting an organization's quality performance and the eleven primary elements of TQM are identified. Based on the primary TQM elements, a TQM quality management method model is developed. This

  12. The Development of the Renewable Energy Power Industry under Feed-In Tariff and Renewable Portfolio Standard: A Case Study of China’s Photovoltaic Power Industry

    Directory of Open Access Journals (Sweden)

    Yuzhuo Zhang

    2017-03-01

    Full Text Available Among the regulatory policies, feed-in tariffs (FIT and renewable portfolio standards (RPS are the most popular to promote the development of renewable energy power industry. They can significantly contribute to the expansion of domestic industrial activities in terms of sustainable energy. In this paper, we synthetically consider various important factors with the analysis of the existing literature, and use system dynamics (SD to establish models of long-term development of the renewable energy power industry under FIT and RPS schemes. The model not only clearly shows the complex logical relationship between the factors but also reveals the process of coordination between the two policy tools in the development of the renewable energy power industry. In addition, as an example of development of renewable energy industry, the paper studies the development of China’s photovoltaic power industry under different scenarios. The models proposed in this paper can provide a reference for scholars to study development of the renewable energy power industry in different countries, thereby facilitating an understanding of the renewable energy power’s long-term sustainable development pattern under FIT and RPS schemes, and helping to provide references for policy-making institutions. The results show that in the perfect competitive market, the implementation of RPS can promote long-term and rapid development of China’s photovoltaic power industry given the constraints and actions of the mechanisms of RPS quota proportion, the TGC valid period, and fines, compared with FIT. At the end of the paper, policy implications are offered as references for the government.

  13. Reflective portfolios support learning, personal growth and ...

    African Journals Online (AJOL)

    Conclusion. Portfolios are an under-utilised assessment and self-development tool in postgraduate training. They allow students to self-assess their attainment of personal learning needs, professional growth and competency achievement and provide faculty with useful feedback on curriculum content, educational activities ...

  14. 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

  15. 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.

  16. 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...

  17. 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

  18. 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

  19. Evaluation of Hydrologic Simulations Developed Using Multi-Model Synthesis and Remotely-Sensed Data within a Portfolio of Calibration Strategies

    Science.gov (United States)

    Lafontaine, J.; Hay, L.; Markstrom, S. L.

    2016-12-01

    The United States Geological Survey (USGS) has developed a National Hydrologic Model (NHM) to support coordinated, comprehensive and consistent hydrologic model development, and facilitate the application of hydrologic simulations within the conterminous United States (CONUS). As many stream reaches in the CONUS are either not gaged, or are substantially impacted by water use or flow regulation, ancillary information must be used to determine reasonable parameter estimations for streamflow simulations. Hydrologic models for 1,576 gaged watersheds across the CONUS were developed to test the feasibility of improving streamflow simulations linking physically-based hydrologic models with remotely-sensed data products (i.e. snow water equivalent). Initially, the physically-based models were calibrated to measured streamflow data to provide a baseline for comparison across multiple calibration strategy tests. In addition, not all ancillary datasets are appropriate for application to all parts of the CONUS (e.g. snow water equivalent in the southeastern U.S., where snow is a rarity). As it is not expected that any one data product or model simulation will be sufficient for representing hydrologic behavior across the entire CONUS, a systematic evaluation of which data products improve hydrologic simulations for various regions across the CONUS was performed. The resulting portfolio of calibration strategies can be used to guide selection of an appropriate combination of modeled and measured information for hydrologic model development and calibration. In addition, these calibration strategies have been developed to be flexible so that new data products can be assimilated. This analysis provides a foundation to understand how well models work when sufficient streamflow data are not available and could be used to further inform hydrologic model parameter development for ungaged areas.

  20. 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...

  1. 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.

  2. 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

  3. 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

  4. 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...

  5. 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.

  6. Changing professional autonomy through quality development?

    DEFF Research Database (Denmark)

    Jespersen, Peter Kragh

    An analysis of quality development i helath care in Denmark and Norway and a discussion of the reactions of the medical professions.......An analysis of quality development i helath care in Denmark and Norway and a discussion of the reactions of the medical professions....

  7. Measuring the Quality of Professional Development Training

    Science.gov (United States)

    Gaumer Erickson, Amy S.; Noonan, Patricia M.; Brussow, Jennifer; Supon Carter, Kayla

    2017-01-01

    High-quality, evidence-based professional development is essential to ensure that teachers obtain the knowledge, strategies and skills necessary to positively impact student learning. While the primary form of professional development, training has rarely been evaluated for quality beyond the satisfaction of those being trained. The Observation…

  8. The role of employees in quality development

    DEFF Research Database (Denmark)

    Jørgensen, Michael Søgaard; Hvid, Helge

    1999-01-01

    A framework is developed for research on the role of employees in quality development in companies seen as formed thorugh the interaction between management, employees and the external relations to customers and suppliers. The impact of quality assurance on working life is discussed....

  9. Quality Culture Development in the Industrial Enterprise

    Directory of Open Access Journals (Sweden)

    Renata Baravska

    2016-04-01

    Full Text Available This article examines the theoretical viewpoint of quality culture, its formation in industrial plants. Here is discussed cultural ap-proach to quality. It is determined that quality based on a cultural perspective is implemented not only by using tools and methods, but it is the result of cultural factors – exactly the company's values and practices. The values that affect a successful quality culture's integration into entire company's activity are overviewed. This article presents the study of key factors influencing the quality culture's development and it is proposed a conceptual model. The conclusions of performed empirical studies confirm that leadership and company's culture are of paramount im-portance and are the main success factors in developing of the quality culture in the company. The connection between leader-ship and empowerment certifies that each company itself is re-sponsible for the formation of the quality culture.

  10. 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

  11. E-PORTFOLIO: BEYOND ASSESSMENT FOR ENGLISH STUDENT TEACHER (a Preliminary Study of E-portfolio Implementation in Micro Teaching Class)

    OpenAIRE

    Sarlita D. Matra

    2017-01-01

    Teacher preparation programs across the country are showing an increased interest in the use of electronic portfolios as valuable authentic assessment tools that can document students‘ abilities and growth related to specific standards. The concept of developing e-portfolios is based on the fact that the reflective practice of creating portfolios enables students to document and track their learning; develop an integrated, coherent picture of their learning experiences; and enhanc...

  12. 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...

  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. A diversified portfolio model of adaptability.

    Science.gov (United States)

    Chandra, Siddharth; Leong, Frederick T L

    2016-12-01

    A new model of adaptability, the diversified portfolio model (DPM) of adaptability, is introduced. In the 1950s, Markowitz developed the financial portfolio model by demonstrating that investors could optimize the ratio of risk and return on their portfolios through risk diversification. The DPM integrates attractive features of a variety of models of adaptability, including Linville's self-complexity model, the risk and resilience model, and Bandura's social cognitive theory. The DPM draws on the concept of portfolio diversification, positing that diversified investment in multiple life experiences, life roles, and relationships promotes positive adaptation to life's challenges. The DPM provides a new integrative model of adaptability across the biopsychosocial levels of functioning. More importantly, the DPM addresses a gap in the literature by illuminating the antecedents of adaptive processes studied in a broad array of psychological models. The DPM is described in relation to the biopsychosocial model and propositions are offered regarding its utility in increasing adaptiveness. Recommendations for future research are also offered. (PsycINFO Database Record (c) 2016 APA, all rights reserved).

  15. Portfolio careers for medical graduates: implications for postgraduate training and workforce planning.

    Science.gov (United States)

    Eyre, Harris A; Mitchell, Rob D; Milford, Will; Vaswani, Nitin; Moylan, Steven

    2014-06-01

    Portfolio careers in medicine can be defined as significant involvement in one or more portfolios of activity beyond a practitioner's primary clinical role, either concurrently or in sequence. Portfolio occupations may include medical education, research, administration, legal medicine, the arts, engineering, business and consulting, leadership, politics and entrepreneurship. Despite significant interest among junior doctors, portfolios are poorly integrated with prevocational and speciality training programs in Australia. The present paper seeks to explore this issue. More formal systems for portfolio careers in Australia have the potential to increase job satisfaction, flexibility and retention, as well as diversify trainee skill sets. Although there are numerous benefits from involvement in portfolio careers, there are also risks to the trainee, employing health service and workforce modelling. Formalising pathways to portfolio careers relies on assessing stakeholder interest, enhancing flexibility in training programs, developing support programs, mentorship and coaching schemes and improving support structures in health services.

  16. CHARACTERISTICS OF INVESTMENT PORTFOLIOS PASSIVE MANAGEMENT STRATEGY ON THE CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    MIHAELA SUDACEVSCHI

    2013-05-01

    Full Text Available The strategies of investment portfolios management on the capital market involves a range of transactions with different financial securities, aimed at optimizing the results. On a developed and efficient capital market, with a high liquidity level, portfolio management primarly depends on investor’s targeted level of return and the risk profile of the investor. Passive strategy of investment portfolios management is applied especially by risk aversion investors, who are taking into account all existing risks in the capital market and seeking to preserve the value of investments, rather than increasing its value. This strategy presume that the investor has no information about the prices and the return of securities that would make him to give to his investment portfolio a different structure from the structure of capital market portfolio. Therefore, he will seek a return level equal to the return on the market portfolio, minimizing the portfolio risk up to eliminating the specific risk.

  17. MANAGING THE USE OF DERIVATIVE INSTRUMENTS FOR PORTFOLIO RISK PURPOSES

    Directory of Open Access Journals (Sweden)

    Mădălina Antoaneta RĂDOI

    2017-05-01

    Full Text Available The priority in portfolio management is a good risk assessment and management. Of great importance is the margin that an asset portfolio guarantor must use with specific expertise in certain areas of market temporal inefficiency in order to improve its management performance. The relevant validity of the financial market and the emphasis laid on risk management carried along the development of financial instruments tailored to risk management. New derivative financial instruments have revolutionized the methods of portfolio management, of corporate treasury management, of banking management and, more generally, all financial strategies.

  18. Twelve tips for creating an academic teaching portfolio.

    Science.gov (United States)

    Little-Wienert, Kim; Mazziotti, Mark

    2018-01-01

    An academic teaching portfolio is not only a requirement at many academic teaching institutions, but it is also important in a medical educator's growth and development through documentation, reflection, evaluation, and change. Creating an academic portfolio may appear daunting at first but with careful advanced preparation, organized evidence collection of your educational work, proof of scholarship, and thorough documentation of self-reflection and change, you can produce a successful product that accurately represents your educational beliefs, accomplishments, and growth throughout your career. This article provides medical educators with twelve steps for creating a successful academic teaching portfolio.

  19. 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 ...

  20. 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.

  1. 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.

  2. Qualitative study of the impact of an authentic electronic portfolio in undergraduate medical education.

    Science.gov (United States)

    Belcher, Rosie; Jones, Anna; Smith, Laura-Jane; Vincent, Tim; Naidu, Sindhu Bhaarrati; Montgomery, Julia; Haq, Inam; Gill, Deborah

    2014-12-17

    Portfolios are increasingly used in undergraduate and postgraduate medical education. Four medical schools have collaborated with an established NHS electronic portfolio provider to develop and implement an authentic professional electronic portfolio for undergraduate students. We hypothesized that using an authentic portfolio would have significant advantages for students, particularly in familiarizing them with the tool many will continue to use for years after graduation. This paper describes the early evaluation of this undergraduate portfolio at two participating medical schools. To gather data, a questionnaire survey with extensive free text comments was used at School 1, and three focus groups were held at School 2. This paper reports thematic analysis of students' opinions expressed in the free text comments and focus groups. Five main themes, common across both schools were identified. These concerned the purpose, use and acceptability of the portfolio, advantages of and barriers to the use of the portfolio, and the impacts on both learning and professional identity. An authentic portfolio mitigated some of the negative aspects of using a portfolio, and had a positive effect on students' perception of themselves as becoming past of the profession. However, significant barriers to portfolio use remained, including a lack of understanding of the purpose of a portfolio and a perceived damaging effect on feedback.

  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. Financial Development, Environmental Quality and Economic Growth

    Directory of Open Access Journals (Sweden)

    Shushu Li

    2015-07-01

    Full Text Available In this study, the relationships between financial development, environmental quality and economic growth are studied based on data from 102 countries over the period 1980–2010 using the generalized method of moments (GMM estimation. The econometric results show the following three basic conclusions: First, both financial development and environmental quality have a significant impact on economic growth and should be included in the production function of the economic growth model as important variables. Second, there is a significant and robust “inverted U-shaped” relationship between financial development and economic growth; with the improvement of the level of financial development, economic growth would first increase and then decrease, which is consistent with the results of previous studies. Third, there is also a significant and robust “inverted U-shaped” relationship between economic growth and carbon emissions, indicating that there exists a “critical point” at which achieving economic growth comes at the expense of environmental quality, and after passing the critical point, the deterioration of environmental quality will lead to a significant slowdown in economic growth. In addition, the econometric analysis in this paper also shows that there was a mutually promoting and strengthening relationship between financial development and environmental quality. Specifically, the degree of financial development can further strengthen the promoting effect of environmental quality on economic growth; meanwhile, an improvement in environmental quality can also strengthen the promoting effect of financial development on economic growth. Financial development and environmental quality could influence economic growth through strengthening the marginal product effects of capital and labor, which further indicates the that both financial and environmental factors play an important role in modern economic development.

  5. Embedding Quality Function Deployment In Software Development ...

    African Journals Online (AJOL)

    2013-03-01

    Mar 1, 2013 ... This paper focuses on how customers' voice can be heard in order to reduce development and manufacturing costs ..... engineer and customer meet and define the .... Figure 4 Customer's Satisfaction Requirement. Quality ...

  6. Quality Assurance Project Plan Development Tool

    Science.gov (United States)

    This tool contains information designed to assist in developing a Quality Assurance (QA) Project Plan that meets EPA requirements for projects that involve surface or groundwater monitoring and/or the collection and analysis of water samples.

  7. Process-Based Quality (PBQ) Tools Development

    Energy Technology Data Exchange (ETDEWEB)

    Cummins, J.L.

    2001-12-03

    The objective of this effort is to benchmark the development of process-based quality tools for application in CAD (computer-aided design) model-based applications. The processes of interest are design, manufacturing, and quality process applications. A study was commissioned addressing the impact, current technologies, and known problem areas in application of 3D MCAD (3-dimensional mechanical computer-aided design) models and model integrity on downstream manufacturing and quality processes. The downstream manufacturing and product quality processes are profoundly influenced and dependent on model quality and modeling process integrity. The goal is to illustrate and expedite the modeling and downstream model-based technologies for available or conceptual methods and tools to achieve maximum economic advantage and advance process-based quality concepts.

  8. 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.

  9. 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.

  10. 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.

  11. Development of accounting quality management system

    Directory of Open Access Journals (Sweden)

    Plakhtii T.F.

    2017-08-01

    Full Text Available Accounting organization as one of the types of practical activities at the enterprise involves organization of the process of implementation of various kinds of accounting procedures to ensure meeting needs of the users of accounting information. Therefore, to improve its quality an owner should use tools, methods and procedures that enable to improve the quality of implementation of accounting methods and technology. The necessity of using a quality management system for the improvement of accounting organization at the enterprise is substantiated. The system of accounting quality management is developed and grounded in the context of ISO 9001:2015, which includes such processes as the processes of the accounting system, leadership, planning, and evaluation. On the basis of specification and justification of the set of universal requirements (content requirements, formal requirements the model of the environment of demands for high-quality organization of the computerized accounting system that improves the process of preparing high quality financial statements is developed. In order to improve the system of accounting quality management, to justify the main objectives of its further development, namely elimination of unnecessary characteristics of accounting information, the differences between the current level of accounting information quality and its perfect level are considered; the meeting of new needs of users of accounting information that have not been satisfied yet. The ways of leadership demonstration in the system of accounting quality management of accounting subjects at the enterprise are substantiated. The relationship between the current level of accounting information quality and its perfect level is considered. The possible types of measures aimed at improving the system of accounting quality management are identified. The paper grounds the need to include the principle of proper management in the current set of accounting

  12. Staff Development and Total Quality Management.

    Science.gov (United States)

    Norris, Gerald L.; Norris, Joye H.

    Professional development is an emerging view of faculty development that places teachers in charge of their own professional growth. The emergence of Total Quality Management (TQM) provides a vehicle for designing professional development to meet the needs of individuals and the organizations that employ them. The eight tenets of Deming's theory…

  13. Student-governed electronic portfolios as a tool to involve university teachers in competency-oriented curriculum development

    NARCIS (Netherlands)

    Verhagen, Pleunes Willem; Hoiting, Willeke; Crawford, Margaret; Simonson, Michael; Lamboy, Carmen

    2001-01-01

    At the University of Twente (Netherlands), a new curriculum on educational science and technology has been introduced. That occasion was used to try to develop an apprenticeship model in which the students are regarded as young professionals from the very beginning. In that model, the students are

  14. 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.

  15. Fuzzy portfolio optimization advances in hybrid multi-criteria methodologies

    CERN Document Server

    Gupta, Pankaj; Inuiguchi, Masahiro; Chandra, Suresh

    2014-01-01

    This monograph presents a comprehensive study of portfolio optimization, an important area of quantitative finance. Considering that the information available in financial markets is incomplete and that the markets are affected by vagueness and ambiguity, the monograph deals with fuzzy portfolio optimization models. At first, the book makes the reader familiar with basic concepts, including the classical mean–variance portfolio analysis. Then, it introduces advanced optimization techniques and applies them for the development of various multi-criteria portfolio optimization models in an uncertain environment. The models are developed considering both the financial and non-financial criteria of investment decision making, and the inputs from the investment experts. The utility of these models in practice is then demonstrated using numerical illustrations based on real-world data, which were collected from one of the premier stock exchanges in India. The book addresses both academics and professionals pursuin...

  16. 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.

  17. Accelerating System Development for the Food Chain: A Portfolio of over 30 Projects, Aiming at Impact and Growth

    Directory of Open Access Journals (Sweden)

    Harald Sundmaeker

    2016-08-01

    The FIWARE initiative is accelerating startups and supporting SME type technology developers that are realising solutions for real world business cases, which are serving as reference customers and test cases to assure an end-user acceptance and valid business models. This paper discusses the main food chain related topics and innovation potentials that are addressed as well as outlines the related methodological and technological approaches that are used to facilitate the realisation of impact and growth for commercial exploitation.

  18. When Cloud Computing Meets with Semantic Web: A New Design for E-Portfolio Systems in the Social Media Era

    Science.gov (United States)

    Kim, Paul; Ng, Chen Kee; Lim, Gloria

    2010-01-01

    The need, use, benefit and potential of e-portfolios have been analysed and discussed by a substantial body of researchers in the education community. However, the development and implementation approaches of e-portfolios to date have faced with various challenges and limitations. This paper presents a new approach of an e-portfolio system design…

  19. The Use of ePortfolios to Support Metacognitive Practice in a First-Year Writing Program

    Science.gov (United States)

    Bowman, Jim; Lowe, Barbara J.; Sabourin, Katie; Sweet, Catherine Salomon

    2016-01-01

    Recognizing the importance of meaningful reflective writing as an integral component to the portfolios used in the first-year program (FYP), faculty questioned whether a newly developed electronic portfolio offered any pedagogical benefits over the existing traditional paper portfolio. Of particular interest for this work was whether the use of…

  20. PSA Duration: Conquering the Prepayment Risk of Mortgage Portfolios

    OpenAIRE

    Boleslav Gulko

    1996-01-01

    Money managers have little control over the values of their individual holdings, but they have considerable control over the risk exposure of their portfolios. This article introduces new tools for the risk management of mortgage portfolios. We extend the traditional duration analysis to two dimensions, interest rates and mortgage prepayments, and develop independent hedging rules for the interest rate risk and the prepayment risk. In particular, we define the PSA duration as a formal measure...

  1. The Determinants of Venture Capital Portfolio Size: Empirical Evidence

    OpenAIRE

    Douglas J. Cumming

    2006-01-01

    This paper explores factors that affect portfolio size among a sample of venture capital financing data from 214 Canadian funds. Four categories of factors affect portfolio size: (1) the venture capital funds' characteristics, including the type of fund, fund duration, fund-raising, and the number of venture capital fund managers; (2) the entrepreneurial firms' characteristics, including stage of development, technology, and geographic location; (3) the nature of the financing transactions, i...

  2. Cross-sectional returns with volatility regimes from a diverse portfolio of emerging and developed equity indices

    Directory of Open Access Journals (Sweden)

    Paweł Sakowski

    2016-10-01

    Full Text Available This article aims to extend evaluation of the classic multifactor model of Carhart (1997 for the case of global equity indices and to expand analysis performed in Sakowski et. al. (2015. Our intention is to test several modifications of these models to take into account different dynamics of equity excess returns between emerging and developed equity indices. Proposed extensions include a volatility regime switching mechanism (using dummy variables and the Markov approach and the fifth risk factor based on realized volatility of index returns. Moreover, instead of using data for stocks of a particular market (which is a common approach in the literature, we check performance of these models for weekly data of 81 world investable equity indices in the period of 2000-2015. Such an approach is proposed to estimate an equity risk premium for a single country. Empirical evidence reveals important differences between results for classical models estimated on single stocks (either in international or US-only frameworks and models evaluated for equity indices. Additionally, we observe substantial discrepancies between results for developed countries and emerging markets. Finally, using weekly data for the last 15 years we illustrate the importance of model risk and data overfitting effects when drawing conclusions upon results of multifactor models.

  3. 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

  4. 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...

  5. MARKOV CHAIN PORTFOLIO LIQUIDITY OPTIMIZATION MODEL

    Directory of Open Access Journals (Sweden)

    Eder Oliveira Abensur

    2014-05-01

    Full Text Available The international financial crisis of September 2008 and May 2010 showed the importance of liquidity as an attribute to be considered in portfolio decisions. This study proposes an optimization model based on available public data, using Markov chain and Genetic Algorithms concepts as it considers the classic duality of risk versus return and incorporating liquidity costs. The work intends to propose a multi-criterion non-linear optimization model using liquidity based on a Markov chain. The non-linear model was tested using Genetic Algorithms with twenty five Brazilian stocks from 2007 to 2009. The results suggest that this is an innovative development methodology and useful for developing an efficient and realistic financial portfolio, as it considers many attributes such as risk, return and liquidity.

  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. 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...

  9. 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.

  10. Product portfolio optimization based on substitution

    DEFF Research Database (Denmark)

    Myrodia, Anna; Moseley, A.; Hvam, Lars

    2017-01-01

    The development of production capabilities has led to proliferation of the product variety offered to the customer. Yet this fact does not directly imply increase of manufacturers' profitability, nor customers' satisfaction. Consequently, recent research focuses on portfolio optimization through...... substitution and standardization techniques. However when re-defining the strategic market decisions are characterized by uncertainty due to several parameters. In this study, by using a GAMS optimization model we present a method for supporting strategic decisions on substitution, by quantifying the impact...

  11. Patent portfolio structure for single technology companies

    OpenAIRE

    Hartwell, Ian P.

    2004-01-01

    Single technology companies (STCs) are defined in this thesis as companies that (a) have the fundamental rights to a new technology, (b) have development of that technology as their core competence, (c) seek to exploit that technology primarily by licensing the patent rights, and (d) are driven primarily by 'technology push'. These factors often result in much of the value of the STC residing in its patent portfolio. This in turn may place significant - and often conflicting - ...

  12. Labor Supply Flexibility and Portfolio Choice

    OpenAIRE

    Zvi Bodie; William Samuelson

    1989-01-01

    This paper develops a model showing that people who have flexibility in choosing how much to work will prefer to invest substantially more of their money in risky assets than if they had no such flexibility. Viewed in this way, labor supply flexibility offers insurance against adverse investment outcomes. The model provides support for the conventional wisdom that the young can tolerate more risk in their investment portfolios than the old. The model has other implications for the study of ho...

  13. Supporting the development process for building products by the use of research portfolio analysis: A case study for wood plastics composite materials

    Directory of Open Access Journals (Sweden)

    Daniel Friedrich

    2016-06-01

    Our study evaluated European scientific projects in composites from which we derived a Research Portfolio serving as future matrix for ideation. It was found that research databanks can serve as basis for strategic innovation planning. We were able to identify several appropriate future technologies and material applications in the field of bio-based plastics composites. Our methodology particularly supports manufacturers with less formalized innovation processes.

  14. 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...

  15. 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.

  16. Strategic management of the licence portfolio

    International Nuclear Information System (INIS)

    Killingland, Arild

    1998-01-01

    This presentation discusses the secondary market for purchase, sale and exchange of licences on the Norwegian Continental Shelf. An efficient secondary market is necessary for the operations on the Shelf to work well. Two examples of major transactions made by Statoil are given, Rubicon and Aasgard. Rubicon is the most comprehensive portfolio operation made on the Norwegian Shelf and probably the largest exchange transaction across national frontiers. Rubicon was undertaken because Statoil wanted to create bigger values in the portfolio by increasing the owner parts in core areas. One effect of Rubicon was its contribution to increasing the extent of the activities in the UK such that there is a basis for achieving Statoil's ambitions for the international core areas, which is that they shall be developed to produce 100.000 barrels of oil equivalents per day within a defined period. Statoil is presently positioned to develop core areas in five regions outside the Norwegian Shelf: the Caspian Sea, Venezuela, Angola, Gulf of Mexico and UK. The Aasgard licence exchange transactions were necessary to achieve a co-ordinated of the relevant licences and balanced owner positions in the fields that were established. The Aasgard field is being developed with a production ship for oil- and condensate production. Production will start in 1998. The gas will be produced from the year 2000, from a floating platform. Finally, there is a discussion of trends in the portfolio market

  17. Validity and reliability of portfolio assessment of competency in a baccalaureate dental hygiene program

    Science.gov (United States)

    Gadbury-Amyot, Cynthia C.

    This study examined validity and reliability of portfolio assessment using Messick's (1996, 1995) unified framework of construct validity. Theoretical and empirical evidence was sought for six aspects of construct validity. The sample included twenty student portfolios. Each portfolio were evaluated by seven faculty raters using a primary trait analysis scoring rubric. There was a significant relationship (r = .81--.95; p Dental Hygiene Board Examination (r = .60; p Dental Testing Service examination was both weak and nonsignificant (r = .19; p > .05). An open-ended survey was used to elicit student feedback on portfolio development. A majority of the students (76%) perceived value in the development of programmatic portfolios. In conclusion, the pattern of findings from this study suggest that portfolios can serve as a valid and reliable measure for assessing student competency.

  18. 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...

  19. 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.

  20. Development of the gaharu oil quality control

    International Nuclear Information System (INIS)

    Chong Saw Peng; Mohd Fajri Osman; Shyful Azizi Abdul Rahman; Khairuddin Abdul Rahim; Mat Rasol Awang

    2010-01-01

    Gaharu (Agar wood) is a secondary metabolite produces by the Aquilaria spp. and accumulates in the plant cell in oleoresin form. The essential oil known as gaharu oil can be extracted from this oleoresin gaharu via varies extraction method such as the water distillation, solvent extraction, pressurize extraction and etc. The gaharu oil extracted through different methods will give different fragrances. Besides, different source of materials will also give different in chemical profiles. In gaharu oil trading market, most of the buyers request quality assurance from the gaharu oil manufacturer to assure the gaharu oil purchased meets their standard requirement. Since there is a demand on gaharu oil quality assurance then it become a need to develop the gaharu oil quality control method in order to have a standard quality control of gaharu oil presented in a certificate of analysis and verified by laboratory. (author)

  1. 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

  2. Evaluation of the probabilistic safety assessment portfolio for NSD. Plan of work

    International Nuclear Information System (INIS)

    Gould, J.

    1999-01-01

    The aim is to use the research portfolio evaluation protocol developed by HSL to evaluate the Probabilistic Safety Assessment (PSA) portfolio, both to draw conclusions about the PSA portfolio and as a pilot study to show the suitability of the evaluation protocol. The objectives of the work are: (1) To collect sufficient information to carry out a preliminary review of the portfolio; (2) o produce a plan of work detailing the time and costs to carry out a full evaluation of the PSA portfolio; (3) to evaluate the PSA portfolio of research; (4) to produce a report of the evaluation of the PSA portfolio; (5) if necessary, to make changes to the methodology in light of the experience gained in the evaluation of the PSA research portfolio. This report completes objectives 1 and 2. It details the plan of work for the evaluation of the PSA research portfolio. The plan has shown that the evaluation of the PSA research portfolio has many difficulties to overcome. It is suitable as a pilot study to show the suitability of the portfolio evaluation protocol and will provide valuable information that can be used to improve it. The evaluation of the PSA portfolio will require a considerable amount of time and effort to complete. The task analysis has shown it to be of the order of Pound Sterling 25k and to take two months to complete after this preliminary data collection. The plan to evaluate the PSA research portfolio detailed in this report should be carried out and the lessons learned by carrying out this pilot study should be used to improve the evaluation protocol

  3. Towards a TENCompetence ePortfolio

    Directory of Open Access Journals (Sweden)

    Adriana J. Berlanga

    2008-07-01

    Full Text Available This article argues that the TENCompetence ePortfolio definition should integrate rhetorical, pedagogical, social, and technical perspectives. The rhetorical perspective is needed to show the learner’s competences, achievements and history; the pedagogical perspective aims at supporting learner’s self-reflection, through the definition of competences mastered, review and creation of (new competence development plans, and assessment of competences; the social perspective aims at fostering interaction and social help support; and the technical perspective aims at supporting the other three perspectives. Guiding principles for the design of the TENCompetence ePortfolio are provided, and the aforementioned perspectives detailed.

  4. Application of Performance Ratios in Portfolio Optimization

    Directory of Open Access Journals (Sweden)

    Aleš Kresta

    2015-01-01

    Full Text Available The cornerstone of modern portfolio theory was established by pioneer work of Harry Markowitz. Based on his mean-variance framework, Sharpe formulated his well-known Sharpe ratio aiming to measure the performance of mutual funds. The contemporary development in computer’s computational power allowed to apply more complex performance ratios, which take into account also higher moments of return probability distribution. Although these ratios were proposed to help the investors to improve the results of portfolio optimization, we empirically demonstrated in our paper that this may not necessarily be true. On the historical dataset of DJIA components we empirically showed that both Sharpe ratio and MAD ratio outperformed Rachev ratio. However, for Rachev ratio we assumed only one level of parameters value. Different set-ups of parameters may provide different results and thus further analysis is certainly required.

  5. 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...

  6. Procedural Portfolio Planning in Plastic Surgery, Part 2: Collaboration Between Surgeons and Hospital Administrators to Develop a Funds Flow Model for Procedures Performed at an Academic Medical Center.

    Science.gov (United States)

    Hultman, Charles Scott

    2016-06-01

    Although plastic surgeons make important contributions to the clinical, educational, and research missions of academic medical centers (AMCs), determining the financial value of a plastic surgery service can be difficult, due to complex cost accounting systems. We analyzed the financial impact of plastic surgery on an AMC, by examining the contribution margins and operating income of surgical procedures. We collaborated with hospital administrators to implement 3 types of strategic changes: (1) growth of areas with high contribution margin, (2) curtailment of high-risk procedures with negative contribution margin, (3) improved efficiency of mission-critical services with high resource consumption. Outcome measures included: facility charges, hospital collections, contribution margin, operating margin, and operating room times. We also studied the top 50 Current Procedural Terminology codes (total case number × charge/case), ranking procedures for profitability, as determined by operating margin. During the 2-year study period, we had no turnover in faculty; did not pursue any formal marketing; did not change our surgical fees, billing system, or payer mix; and maintained our commitment to indigent care. After rebalancing our case mix, through procedural portfolio planning, average hospital operating income/procedure increased from $-79 to $+816. Volume and diversity of cases increased, with no change in payer mix. Although charges/case decreased, both contribution margin and operating margin increased, due to improved throughput and decreased operating room times. The 5 most profitable procedures for the hospital were hernia repair, mandibular osteotomy, hand skin graft, free fibula flap, and head and neck flap, whereas the 5 least profitable were latissimus breast reconstruction, craniosynostosis repair, free-flap breast reconstruction, trunk skin graft, and cutaneous free flap. Total operating income for the hospital, from plastic surgery procedures, increased

  7. 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

  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. [Services portfolio of a department of endocrinology and clinical nutrition].

    Science.gov (United States)

    Vicente Delgado, Almudena; Gómez Enterría, Pilar; Tinahones Madueño, Francisco

    2011-03-01

    Endocrinology and Clinical Nutrition are branches of Medicine that deal with the study of physiology of body glands and hormones and their disorders, intermediate metabolism of nutrients, enteral and parenteral nutrition, promotion of health by prevention of diet-related diseases, and appropriate use of the diagnostic, therapeutic, and preventive tools related to these disciplines. Development of Endocrinology and Clinical Nutrition support services requires accurate definition and management of a number of complex resources, both human and material, as well as adequate planning of the care provided. It is therefore essential to know the services portfolio of an ideal Department of Endocrinology and Clinical Nutrition because this is a useful, valid and necessary tool to optimize the available resources, to increase efficiency, and to improve the quality of care. Copyright © 2010 SEEN. Published by Elsevier Espana. All rights reserved.

  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. A Robust Statistics Approach to Minimum Variance Portfolio Optimization

    Science.gov (United States)

    Yang, Liusha; Couillet, Romain; McKay, Matthew R.

    2015-12-01

    We study the design of portfolios under a minimum risk criterion. The performance of the optimized portfolio relies on the accuracy of the estimated covariance matrix of the portfolio asset returns. For large portfolios, the number of available market returns is often of similar order to the number of assets, so that the sample covariance matrix performs poorly as a covariance estimator. Additionally, financial market data often contain outliers which, if not correctly handled, may further corrupt the covariance estimation. We address these shortcomings by studying the performance of a hybrid covariance matrix estimator based on Tyler's robust M-estimator and on Ledoit-Wolf's shrinkage estimator while assuming samples with heavy-tailed distribution. Employing recent results from random matrix theory, we develop a consistent estimator of (a scaled version of) the realized portfolio risk, which is minimized by optimizing online the shrinkage intensity. Our portfolio optimization method is shown via simulations to outperform existing methods both for synthetic and real market data.

  12. Semantic modeling of portfolio assessment in e-learning environment

    Directory of Open Access Journals (Sweden)

    Lucila Romero

    2017-01-01

    Full Text Available In learning environment, portfolio is used as a tool to keep track of learner’s progress. Particularly, when it comes to e-learning, continuous assessment allows greater customization and efficiency in learning process and prevents students lost interest in their study. Also, each student has his own characteristics and learning skills that must be taken into account in order to keep learner`s interest. So, personalized monitoring is the key to guarantee the success of technology-based education. In this context, portfolio assessment emerge as the solution because is an easy way to allow teacher organize and personalize assessment according to students characteristic and need. A portfolio assessment can contain various types of assessment like formative assessment, summative assessment, hetero or self-assessment and use different instruments like multiple choice questions, conceptual maps, and essay among others. So, a portfolio assessment represents a compilation of all assessments must be solved by a student in a course, it documents progress and set targets. In previous work, it has been proposed a conceptual framework that consist of an ontology network named AOnet which is a semantic tool conceptualizing different types of assessments. Continuing that work, this paper presents a proposal to implement portfolios assessment in e-learning environments. The proposal consists of a semantic model that describes key components and relations of this domain to set the bases to develop a tool to generate, manage and perform portfolios assessment.

  13. The electricity portfolio simulation model (EPSim) technical description.

    Energy Technology Data Exchange (ETDEWEB)

    Drennen, Thomas E.; Klotz, Richard (Hobart and William Smith Colleges, Geneva, NY)

    2005-09-01

    Stakeholders often have competing interests when selecting or planning new power plants. The purpose of developing this preliminary Electricity Portfolio Simulation Model (EPSim) is to provide a first cut, dynamic methodology and approach to this problem, that can subsequently be refined and validated, that may help energy planners, policy makers, and energy students better understand the tradeoffs associated with competing electricity portfolios. EPSim allows the user to explore competing electricity portfolios annually from 2002 to 2025 in terms of five different criteria: cost, environmental impacts, energy dependence, health and safety, and sustainability. Four additional criteria (infrastructure vulnerability, service limitations, policy needs and science and technology needs) may be added in future versions of the model. Using an analytic hierarchy process (AHP) approach, users or groups of users apply weights to each of the criteria. The default energy assumptions of the model mimic Department of Energy's (DOE) electricity portfolio to 2025 (EIA, 2005). At any time, the user can compare alternative portfolios to this reference case portfolio.

  14. The influence of learning portfolios in learner self-efficacy belief / Helani Elisa Chauke

    OpenAIRE

    Chauke, Helani Elisa

    2005-01-01

    The aims of this research were to determine, by means of both the literature review and the empirical research, the experiences secondary school learners have in the compilation of their learning portfolios and the influence this compilation of the portfolios has on their perceptions of their efficacy; and to make suggestions for the continued use of the portfolio in developing interests of learners. The sample for this study consisted of 744 learners studying Mathematics and Science. The stu...

  15. Developing a Mathematics Education Quality Scale

    Science.gov (United States)

    Ciftci, S. Koza; Karadag, Engin

    2016-01-01

    The aim of this study was to evaluate students' perceptions of the quality of mathematics education and to develop a reliable and valid measurement tool. The research was conducted with 638 (first study) and 407 (second study) secondary school students in Eskisehir, Turkey. Item discrimination, structural validity (exploratory factor analysis and…

  16. Valuation of large variable annuity portfolios: Monte Carlo simulation and synthetic datasets

    Directory of Open Access Journals (Sweden)

    Gan Guojun

    2017-12-01

    Full Text Available Metamodeling techniques have recently been proposed to address the computational issues related to the valuation of large portfolios of variable annuity contracts. However, it is extremely diffcult, if not impossible, for researchers to obtain real datasets frominsurance companies in order to test their metamodeling techniques on such real datasets and publish the results in academic journals. To facilitate the development and dissemination of research related to the effcient valuation of large variable annuity portfolios, this paper creates a large synthetic portfolio of variable annuity contracts based on the properties of real portfolios of variable annuities and implements a simple Monte Carlo simulation engine for valuing the synthetic portfolio. In addition, this paper presents fair market values and Greeks for the synthetic portfolio of variable annuity contracts that are important quantities for managing the financial risks associated with variable annuities. The resulting datasets can be used by researchers to test and compare the performance of various metamodeling techniques.

  17. Quality risk management in pharmaceutical development.

    Science.gov (United States)

    Charoo, Naseem Ahmad; Ali, Areeg Anwer

    2013-07-01

    The objective of ICH Q8, Q9 and Q10 documents is application of systemic and science based approach to formulation development for building quality into product. There is always some uncertainty in new product development. Good risk management practice is essential for success of new product development in decreasing this uncertainty. In quality by design paradigm, the product performance properties relevant to the patient are predefined in target product profile (TPP). Together with prior knowledge and experience, TPP helps in identification of critical quality attributes (CQA's). Initial risk assessment which identifies risks to these CQA's provides impetus for product development. Product and process are designed to gain knowledge about these risks, devise strategies to eliminate or mitigate these risks and meet objectives set in TPP. By laying more emphasis on high risk events the protection level of patient is increased. The process being scientifically driven improves the transparency and reliability of the manufacturer. The focus on risk to the patient together with flexible development approach saves invaluable resources, increases confidence on quality and reduces compliance risk. The knowledge acquired in analysing risks to CQA's permits construction of meaningful design space. Within the boundaries of the design space, variation in critical material characteristics and process parameters must be managed in order to yield a product having the desired characteristics. Specifications based on product and process understanding are established such that product will meet the specifications if tested. In this way, the product is amenable to real time release, since specifications only confirm quality but they do not serve as a means of effective process control.

  18. Annual Report: EPAct Complementary Program's Ultra-Deepwater R&D Portfolio and Unconventional Resources R&D Portfolio (30 September 2012)

    Energy Technology Data Exchange (ETDEWEB)

    none,; Rose, Kelly [NETL; Hakala, Alexandra [NETL; Guthrie, George [NETL

    2012-09-30

    areas of focus include: (1) improving predictions of fugitive methane and greenhouse gas emissions, (2) predicting the composition and volume of waters produced during shale gas development, (3) predicting subsurface fluid and gas migration, and (4) predicting subsurface phenomena (e.g., geophysical and geomechanical responses) using the application of field measurements and observations. The portfolio is building a general understanding of: (1) spatial variations in reservoir properties that impact risk, (2) wellbore integrity (particularly for pre-existing wellbores), (3) fracture propagation dynamics, (4) groundwater geochemistry and hydrogeology, and (5) air quality. This portfolio and approach is responsive to key Federal-scale initiatives including the Multi-Agency Collaboration on Unconventional Oil and Gas Research.

  19. Quality assurance in research and development

    International Nuclear Information System (INIS)

    Laslett, G.F.; Waker, C.H.

    1990-01-01

    It is propounded that, given high status for the Research and Development (R and D) activity of the comapny or site, ''freeing'' the scientists and engineers involved at the innovative decision-taking point helps quality. Effort and money to raise the latter may be best spent in ensuring better calibre, background and training of them, making more meaningful the teamwork across the supplier/customer interfaces, and avoiding risk of misunderstanding of the use to be made of the outcome of the R and D endeavour. But the staff's conscience towards quality, hand in hand with safety, must be constantly stimulated. (author)

  20. Land-use planning for nearshore ecosystem services—the Puget Sound Ecosystem Portfolio Model

    Science.gov (United States)

    Byrd, Kristin

    2011-01-01

    The 2,500 miles of shoreline and nearshore areas of Puget Sound, Washington, provide multiple benefits to people—"ecosystem services"—including important fishing, shellfishing, and recreation industries. To help resource managers plan for expected growth in coming decades, the U.S. Geological Survey Western Geographic Science Center has developed the Puget Sound Ecosystem Portfolio Model (PSEPM). Scenarios of urban growth and shoreline modifications serve as model inputs to develop alternative futures of important nearshore features such as water quality and beach habitats. Model results will support regional long-term planning decisions for the Puget Sound region.

  1. A ubiquitous reflective e-portfolio architecture.

    Science.gov (United States)

    Forte, Marcos; de Souza, Wanderley L; da Silva, Roseli F; do Prado, Antonio F; Rodrigues, Jose F

    2013-11-01

    In nurse and in medicine courses, the use of reflective portfolios as a pedagogical tool is becoming a common practice; in the last years, this practice has gradually migrated from paper-based to electronic-based portfolios. Current approaches for reflective e-portfolios, however, do not widely operate at outdoor sites, where data networks are limited or nonexistent. Considering that many of the activities related to nurse and medicine courses relate to professional practices conducted in such conditions, these network shortcomings restrict the adoption of e-portfolios. The present study describes the requirements specification, design, implementation, and evaluation of the Ubiquitous Reflective E-Portfolio Architecture, a solution proposed to support the development of systems based on mobile and wired access for both online and offline operation. We have implemented a prototype named Professional Practice Module to evaluate the Ubiquitous Reflective E-Portfolio Architecture; the module was based on requirements observed during the professional practice, the paper-based portfolio in use, and related learning meetings in the Medicine Course of a Brazilian University. The evaluation of the system was carried out with a learning group of 2nd year students of the medicine course, who answered to extensive evaluation questionnaires. The prototype proved to be operational in the activities of the professional practice of the Medicine Course object of the study, including homework tasks, patient care, data sharing, and learning meetings. It also demonstrated to be versatile with respect to the availability of the computer network that, many times, was not accessible. Moreover, the students considered the module useful and easy to use, but pointed out difficulties about the keyboard and the display sizes of the netbook devices, and about their operational system. Lastly, most of the students declared preference for the electronic Professional Practice Module in internal

  2. 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.

  3. Potentials and Challenges of Student Progress Portfolio Innovation ...

    African Journals Online (AJOL)

    This paper aims at stimulating discussion on Students Progress Portfolio (SPP) Innovation in assessment. It analyses the potential and challenges of SPP as well as how it can be harnessed to improve assessment practices and its contribution to quality education. The paper is based on a recent qualitative research which ...

  4. Incorporating Contagion in Portfolio Credit Risk Models Using Network Theory

    NARCIS (Netherlands)

    Anagnostou, I.; Sourabh, S.; Kandhai, D.

    2018-01-01

    Portfolio credit risk models estimate the range of potential losses due to defaults or deteriorations in credit quality. Most of these models perceive default correlation as fully captured by the dependence on a set of common underlying risk factors. In light of empirical evidence, the ability of

  5. Purpose and Pedagogy: A Conceptual Model for an ePortfolio

    Science.gov (United States)

    Buyarski, Catherine A.; Aaron, Robert W.; Hansen, Michele J.; Hollingsworth, Cynthia D.; Johnson, Charles A.; Kahn, Susan; Landis, Cynthia M.; Pedersen, Joan S.; Powell, Amy A.

    2015-01-01

    This conceptual model emerged from the need to balance multiple purposes and perspectives associated with developing an ePortfolio designed to promote student development and success. A comprehensive review of literature from various disciplines, theoretical frameworks, and scholarship, including self-authorship, reflection, ePortfolio pedagogy,…

  6. Hydrogen patent portfolios in the automotive industry - the search for promising storage methods

    NARCIS (Netherlands)

    Bakker, S.

    2010-01-01

    In the development of hydrogen vehicle technologies, the automotive industry adopts a portfolio approach; a multitude of technological options is developed for hydrogen storage and conversion. Patent portfolios of car manufacturers are used as indicators of the variation and selection dynamics of

  7. 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.

  8. Shale Gas Development and Drinking Water Quality.

    Science.gov (United States)

    Hill, Elaine; Ma, Lala

    2017-05-01

    The extent of environmental externalities associated with shale gas development (SGD) is important for welfare considerations and, to date, remains uncertain (Mason, Muehlenbachs, and Olmstead 2015; Hausman and Kellogg 2015). This paper takes a first step to address this gap in the literature. Our study examines whether shale gas development systematically impacts public drinking water quality in Pennsylvania, an area that has been an important part of the recent shale gas boom. We create a novel dataset from several unique sources of data that allows us to relate SGD to public drinking water quality through a gas well's proximity to community water system (CWS) groundwater source intake areas.1 We employ a difference-in-differences strategy that compares, for a given CWS, water quality after an increase in the number of drilled well pads to background levels of water quality in the geographic area as measured by the impact of more distant well pads. Our main estimate finds that drilling an additional well pad within 1 km of groundwater intake locations increases shale gas-related contaminants by 1.5–2.7 percent, on average. These results are striking considering that our data are based on water sampling measurements taken after municipal treatment, and suggest that the health impacts of SGD 1 A CWS is defined as the subset of public water systems that supplies water to the same population year-round. through water contamination remains an open question.

  9. An analysis of the relation between return and beta for portfolios of Turkish equities

    Directory of Open Access Journals (Sweden)

    Salvatore J. Terregrossa

    2016-12-01

    Full Text Available The present study investigates the possible existence of a systematic relation between beta and excess-return for portfolios of Turkish equities. In the process, no systematic relation is found between beta and realized portfolio excess-return, in an unconditional sense. However, the study does find a systematic relation between realized portfolio excess-return and beta, conditioned upon the sign of realized market-portfolio excess-return. Moreover, an even stronger systematic relation is found between realized portfolio excess-return and beta, conditioned not only upon the sign, but also the magnitude of realized market-portfolio excess-return, with the estimation of the security market plane (SMP model. The study has several useful implications for portfolio managers. Firstly, the empirical findings strongly suggest that employment of the SMP model may generate more accurate estimations of expected asset-return, compared with straightforward application of the capital asset pricing model (CAPM. Enhanced accuracy of expected asset-return, in turn, may lead to more accurate appraisals of asset value, resulting in more profitable investment opportunities and decisions. Employment of the SMP model may thus lead to enhanced efficient-portfolio development, by leading to construction of portfolios with greater expected-return, for a given class of quantifiable-risk.

  10. 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...

  11. E-Portfolio Web-based for Students’ Internship Program Activities

    Science.gov (United States)

    Juhana, A.; Abdullah, A. G.; Somantri, M.; Aryadi, S.; Zakaria, D.; Amelia, N.; Arasid, W.

    2018-02-01

    Internship program is an important part in vocational education process to improve the quality of competent graduates. The complete work documentation process in electronic portfolio (e-Portfolio) platform will facilitate students in reporting the results of their work to both university and industry supervisor. The purpose of this research is to create a more easily accessed e-Portfolio which is appropriate for students and supervisors’ need in documenting their work and monitoring process. The method used in this research is fundamental research. This research is focused on the implementation of internship e-Portfolio features by demonstrating them to students who have conducted internship program. The result of this research is to create a proper web-based e-Portfolio which can be used to facilitate students in documenting the results of their work and aid supervisors in monitoring process during internship.

  12. 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.

  13. 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)

  14. 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.

  15. 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....

  16. 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.

  17. 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.

  18. 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.

  19. Electronic portfolios in nursing education: a review of the literature.

    Science.gov (United States)

    Green, Janet; Wyllie, Aileen; Jackson, Debra

    2014-01-01

    As health professionals, nurses are responsible for staying abreast of current professional knowledge and managing their own career, professional growth and development, and ideally, practices to support these activities should start during their student years. Interest in electronic or eportfolios is gathering momentum as educationalists explore their potential as a strategy for fostering lifelong learning and enhancing on-going personal and professional development. In this paper, we present an overview of e-portfolios and their application to nurse education, highlighting potential benefits and considerations of useage. We argue that the e-portfolio can represent an authentic means of assessing cognitive, reflective and affective skills. Furthermore, the e-portfolio provides a means through which nurses can record and provide evidence of skills, achievements, experience, professional development and on-going learning, not only for themselves, but for the information and scrutiny of registration boards, employers, managers and peers. Crown Copyright © 2013. Published by Elsevier Ltd. All rights reserved.

  20. 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...

  1. 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).

  2. 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

  3. 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.

  4. 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

  5. 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

  6. 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

  7. 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…

  8. 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...

  9. 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 ...

  10. Parent-Child Portfolios: "Look--This Book Is All about Us!"

    Science.gov (United States)

    Appl, Dolores J.; Leavitt, Jessica E.; Ryan, Melissa A.

    2014-01-01

    A team of facilitators describe the process and content of portfolios they create for families attending weekly playgroup sessions based on the philosophy and practices of the Parents Interacting with Infants (PIWI) model. The parent-child portfolios are a form of authentic assessment and highlight children's development within the context of…

  11. Use of Modern Methods of Credit Portfolio Risk Management in Commercial Banks of Russian Federation

    Directory of Open Access Journals (Sweden)

    Dmitrii S. Melnyk

    2013-01-01

    Full Text Available The article deals with the structure and factors of credit portfolio risk, analyses existing models of portfolio risk assessment and develops recommendations on the implementation of risk management adapted methods, presents recommendations on the optimization of the approach to credit risk minimization in Russian banking system.

  12. The learning portfolio as a tool for stimulating reflection by student teachers

    NARCIS (Netherlands)

    Mansvelder-Longayroux, Désirée Danièle

    2006-01-01

    The topic of this study is the portfolio that is being used in a teacher education institute as an instrument for stimulating reflection on their development as teachers by student teachers. This reflection can be seen in the themes student teachers have written in their portfolios. The nature of

  13. 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…

  14. Promoting Active Learning When Teaching Introductory Statistics and Probability Using a Portfolio Curriculum Approach

    Science.gov (United States)

    Adair, Desmond; Jaeger, Martin; Price, Owen M.

    2018-01-01

    The use of a portfolio curriculum approach, when teaching a university introductory statistics and probability course to engineering students, is developed and evaluated. The portfolio curriculum approach, so called, as the students need to keep extensive records both as hard copies and digitally of reading materials, interactions with faculty,…

  15. e-Portfolios Enhancing Students' Self-Directed Learning: A Systematic Review of Influencing Factors

    Science.gov (United States)

    Beckers, Jorrick; Dolmans, Diana; Van Merriënboer, Jeroen

    2016-01-01

    e-Portfolios have become increasingly popular among educators as learning tools. Some research even shows that e-portfolios can be utilised to facilitate the development of skills for self-directed learning. Such skills include self-assessment of performance, formulation of learning goals, and selection of future tasks. However, it is not yet…

  16. Land-Use Portfolio Modeler, Version 1.0

    Science.gov (United States)

    Taketa, Richard; Hong, Makiko

    2010-01-01

    Natural hazards pose significant threats to the public safety and economic health of many communities throughout the world. Community leaders and decision-makers continually face the challenges of planning and allocating limited resources to invest in protecting their communities against catastrophic losses from natural-hazard events. Public efforts to assess community vulnerability and encourage loss-reduction measures through mitigation often focused on either aggregating site-specific estimates or adopting standards based upon broad assumptions about regional risks. The site-specific method usually provided the most accurate estimates, but was prohibitively expensive, whereas regional risk assessments were often too general to be of practical use. Policy makers lacked a systematic and quantitative method for conducting a regional-scale risk assessment of natural hazards. In response, Bernknopf and others developed the portfolio model, an intermediate-scale approach to assessing natural-hazard risks and mitigation policy alternatives. The basis for the portfolio-model approach was inspired by financial portfolio theory, which prescribes a method of optimizing return on investment while reducing risk by diversifying investments in different security types. In this context, a security type represents a unique combination of features and hazard-risk level, while financial return is defined as the reduction in losses resulting from an investment in mitigation of chosen securities. Features are selected for mitigation and are modeled like investment portfolios. Earth-science and economic data for the features are combined and processed in order to analyze each of the portfolios, which are then used to evaluate the benefits of mitigating the risk in selected locations. Ultimately, the decision maker seeks to choose a portfolio representing a mitigation policy that maximizes the expected return-on-investment, while minimizing the uncertainty associated with that return

  17. Building a Library App Portfolio with Redis and Django

    Directory of Open Access Journals (Sweden)

    Jeremy Nelson

    2013-01-01

    Full Text Available The Tutt Library at Colorado College is developing a portfolio of library applications for use by patrons and library staff. Developed under an iterative and incremental agile model, these single-use HTML5 applications target multiple devices while using Bootstrap and Django to deliver fast and responsive interfaces to underlying FRBR datastores running on Redis, an advanced NoSQL database server. Two types are delineated: applications for access and discovery, which are available to everyone; and productivity applications, which are primarily for library staff to administer and manage the FRBR-RDA records. The access portfolio includes Book Search, Article Search, Call Number, and Library Hours applications. The productivity side includes an Orders App and a MARC Batch application for ingesting MARC records as FRBR entities using RDA Core attributes. When a critical threshold is reached, the Tutt Library intends to replace its legacy ILS with this library application portfolio.

  18. [INDENA SPA company's patent portfolio of Ginkgo biloba preparation].

    Science.gov (United States)

    Wang, Nan; Guo, Kai; Cheng, Xin-min; Liu, Wei

    2015-10-01

    INDENA SPA Company in Italy is a multi-national company that produces and sells plant extracts. Based on its own re- search advantages in the field of Ginkgo biloba preparation, the company protects its own products market effectively through building patent portfolio around the patents of its opponent. Based on the multi-angle analysis for patent portfolio of G. biloba preparation from the aspects of application time, legal status, technical development route, and patent portfolio layout, this article provides technical reference on research and development of G. biloba preparation, and the author suggest that Chinese applicants learn techniques and layout experiences of other patents fully to enhance the level of research and patent protection level.

  19. Development of phantom periapical for control quality

    International Nuclear Information System (INIS)

    Mendes, J.M.S.; Sales Junior, E.S.; Ferreira, F.C.L.; Paschoal, C.M.M.

    2015-01-01

    This study aimed to develop a dental phantom with cysts for evaluation of periapical radiographs that was tested in private dental offices in the city of Maraba, northern Brazil. Through some tests with the object simulator (phantom) were obtained 12 periapical radiographs (one in each of the offices visited) that waking up to the standards of Ordinance No. 453 were visually evaluated by observing the physical parameters of exposure (kVp and mA), time revelation of the radiographic film, later the other radiographs were visually compared with C6 ray set as the default. Among the results, it was found that only two of the twelve rays cysts could not be viewed and, therefore, these two images were deemed unsuitable for accurate diagnosis in the 10 images the cysts could be displayed, however according the images have different qualities comparisons. In addition, it can be concluded that the performance of the phantom was highly satisfactory showing to be efficient for use in quality control testing of dental X-rays, the quality control of radiographs and continuing education of dental professionals for a price much more accessible. (authors)

  20. Development of a Portable Water Quality Analyzer

    Directory of Open Access Journals (Sweden)

    Germán COMINA

    2010-08-01

    Full Text Available A portable water analyzer based on a voltammetric electronic tongue has been developed. The system uses an electrochemical cell with two working electrodes as sensors, a computer controlled potentiostat, and software based on multivariate data analysis for pattern recognition. The system is suitable to differentiate laboratory made and real in-situ river water samples contaminated with different amounts of Escherichia coli. This bacteria is not only one of the main indicators for water quality, but also a main concern for public health, affecting especially people living in high-burden, resource-limiting settings.

  1. Water Quality Vocabulary Development and Deployment

    Science.gov (United States)

    Simons, B. A.; Yu, J.; Cox, S. J.

    2013-12-01

    Semantic descriptions of observed properties and associated units of measure are fundamental to understanding of environmental observations, including groundwater, surface water and marine water quality. Semantic descriptions can be captured in machine-readable ontologies and vocabularies, thus providing support for the annotation of observation values from the disparate data sources with appropriate and accurate metadata, which is critical for achieving semantic interoperability. However, current stand-alone water quality vocabularies provide limited support for cross-system comparisons or data fusion. To enhance semantic interoperability, the alignment of water-quality properties with definitions of chemical entities and units of measure in existing widely-used vocabularies is required. Modern ontologies and vocabularies are expressed, organized and deployed using Semantic Web technologies. We developed an ontology for observed properties (i.e. a model for expressing appropriate controlled vocabularies) which extends the NASA/TopQuadrant QUDT ontology for Unit and QuantityKind with two additional classes and two properties (see accompanying paper by Cox, Simons and Yu). We use our ontology to populate the Water Quality vocabulary with a set of individuals of each of the four key classes (and their subclasses), and add appropriate relationships between these individuals. This ontology is aligned with other relevant stand-alone Water Quality vocabularies and domain ontologies. Developing the Water Quality vocabulary involved two main steps. First, the Water Quality vocabulary was populated with individuals of the ObservedProperty class, which was determined from a census of existing datasets and services. Each ObservedProperty individual relates to other individuals of Unit and QuantityKind (taken from QUDT where possible), and to IdentifiedObject individuals. As a large fraction of observed water quality data are classified by the chemical substance involved, the

  2. Measuring quality of care: considering conceptual approaches to quality indicator development and evaluation.

    Science.gov (United States)

    Stelfox, Henry T; Straus, Sharon E

    2013-12-01

    In this article, we describe one approach for developing and evaluating quality indicators. We focus on describing different conceptual approaches to quality indicator development, review one approach for developing quality indicators, outline how to evaluate quality indicators once developed, and discuss quality indicator maintenance. The key steps for developing quality indicators include specifying a clear goal for the indicators; using methodologies to incorporate evidence, expertise, and patient perspectives; and considering contextual factors and logistics of implementation. The Strategic Framework Board and the National Quality Measure Clearinghouse have developed criteria for evaluating quality indicators that complement traditional psychometric evaluations. Optimal strategies for quality indicator maintenance and dissemination have not been determined, but experiences with clinical guideline maintenance may be informative. For quality indicators to effectively guide quality improvement efforts, they must be developed, evaluated, maintained, and implemented using rigorous evidence-informed practices. Copyright © 2013 Elsevier Inc. All rights reserved.

  3. Electronic portfolio motivational factors from students’ perspective: A qualitative study

    Directory of Open Access Journals (Sweden)

    Rokhsareh Mobarhan

    2015-06-01

    Full Text Available Electronic portfolio (e-Portfolio is known as an electronic learning record which collects the learning evidences, reflections and accomplishments. In fact, it tells the story of learning achievements. It is an important tool for students, lecturers, administrators and faculties to monitor the learning outcomes. Similarly to other technologies, e-Portfolio is also considered successful, if it is used by students continuously. Previous researches showed the importance of intrinsic and extrinsic motivations in using any technologies. However, lack of motivation has been a major concern for developing any successful online learning environments. The aim of this paper is to explain the e-Portfolio motivational factors from students’ perspective. Interviews are conducted with students from one university in Malaysia in order to get better understanding of the phenomena. The target interviewees are bachelor students chosen from different faculties. Based on the qualitative content analysis of the interviews, the motivational factors affecting the continuous use of e-portfolio are coded in eight themes and then they categorized in four main groups of individual, system, social and environmental characteristics. Finally they are classified into intrinsic or extrinsic motivations.

  4. Portfolio theory and cost-effectiveness analysis: a further discussion.

    Science.gov (United States)

    Sendi, Pedram; Al, Maiwenn J; Rutten, Frans F H

    2004-01-01

    Portfolio theory has been suggested as a means to improve the risk-return characteristics of investments in health-care programs through diversification when costs and effects are uncertain. This approach is based on the assumption that the investment proportions are not subject to uncertainty and that the budget can be invested in toto in health-care programs. In the present paper we develop an algorithm that accounts for the fact that investment proportions in health-care programs may be uncertain (due to the uncertainty associated with costs) and limited (due to the size of the programs). The initial budget allocation across programs may therefore be revised at the end of the investment period to cover the extra costs of some programs with the leftover budget of other programs in the portfolio. Once the total budget is equivalent to or exceeds the expected costs of the programs in the portfolio, the initial budget allocation policy does not impact the risk-return characteristics of the combined portfolio, i.e., there is no benefit from diversification anymore. The applicability of portfolio methods to improve the risk-return characteristics of investments in health care is limited to situations where the available budget is much smaller than the expected costs of the programs to be funded.

  5. 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.

  6. Portfolio Optimization Using Particle Swarms with Stripes

    Directory of Open Access Journals (Sweden)

    Mario Villalobos Arias

    2011-04-01

    Full Text Available In this paper it is consider the Portfolio Optimization Problem developed by Markowitz [11]. The basic assumption is that the investor tries to maximize his/her profit and at the same time, wants to minimize the risk. This problem is usually solved using a scalarization approach (with one objective. Here it is solved it as a bi-objective  optimization problem. It uses a new version of the algorithm of Particle Swarm Optimization for Multi-Objective Problems to which it implemented a method of the stripes to improve dispersion.

  7. EV Portfolio Management and Grid Impact Study

    DEFF Research Database (Denmark)

    Wu, Qiuwei; Jensen, Jakob Munch; Hansen, Lars Henrik

    2009-01-01

    is to determine the day‐ahead charging schedules of a fleet of EVs in order to minimize the EV charging cost with EV energy constraints taken into account. In order to investigate the benefits of the spot price based EV charging scenario, two more charging scenarios have been studied as well, i.e. plug......The EV portfolio management is to develop an EV charging management algorithm in order to determine EV charging schedules with the goal of utilizing renewalbe energy production for EV charging as much as possible and ensuring that EV energy requirements for driving needs are met. According...

  8. 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…

  9. 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...

  10. 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…

  11. 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;

  12. [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.

  13. 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

  14. 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

  15. 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

  16. 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.

  17. 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...

  18. 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

  19. 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

  20. 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.

  1. 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

  2. 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

  3. 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.

  4. Research and development quality assurance planning

    Energy Technology Data Exchange (ETDEWEB)

    Hoke, P.B.

    1990-05-14

    Planning for quality assurance (QA) in research and development (R D) is like stealing eggs without waking up the chickens. The QA program should be as unobtrusive as possible. Researchers require a QA program that affords them an environment capable of supporting repeatable experiments with accurate data without unduly stifling their creative abilities. Careful advance planning ensures that the intensity of control provided by quality-related systems is commensurate with the importance and scope of the activities being performed. Good scientific practices applied to small bench-scale projects may require minimal additional controls. As projects increase in size and complexity the controls imposed through planning must, by necessity, be increased. Research and development QA planning, just like any other planning, involves all affected individuals. The application of control systems is determined by factors such as customer or sponsor requirements, the importance of an item or activity to the experiment's success, and the organizational complexity of the project. Many larger experiments are highly dependent on quality-related support activities such as calibration, engineering design, and inspection provided by organizations outside the R D group. Since, in most cases, the expense of support activities is taken directly from funds available for research, it is important for the researchers to be involved in the planning efforts to help determine and agree with the level of QA effort required. A single plan will often suffice for organizations engaged in large numbers of similar experiments. Complex experiments may require unique QA plans or additions to existing plans. Once implemented, the R D QA plans, like any others, require audits or surveillances and may require revisions if the scope of the experiment changes. 1 ref., 1 fig.

  5. Research and development quality assurance planning

    International Nuclear Information System (INIS)

    Hoke, P.B.

    1990-01-01

    Planning for quality assurance (QA) in research and development (R ampersand D) is like stealing eggs without waking up the chickens. The QA program should be as unobtrusive as possible. Researchers require a QA program that affords them an environment capable of supporting repeatable experiments with accurate data without unduly stifling their creative abilities. Careful advance planning ensures that the intensity of control provided by quality-related systems is commensurate with the importance and scope of the activities being performed. Good scientific practices applied to small bench-scale projects may require minimal additional controls. As projects increase in size and complexity the controls imposed through planning must, by necessity, be increased. Research and development QA planning, just like any other planning, involves all affected individuals. The application of control systems is determined by factors such as customer or sponsor requirements, the importance of an item or activity to the experiment's success, and the organizational complexity of the project. Many larger experiments are highly dependent on quality-related support activities such as calibration, engineering design, and inspection provided by organizations outside the R ampersand D group. Since, in most cases, the expense of support activities is taken directly from funds available for research, it is important for the researchers to be involved in the planning efforts to help determine and agree with the level of QA effort required. A single plan will often suffice for organizations engaged in large numbers of similar experiments. Complex experiments may require unique QA plans or additions to existing plans. Once implemented, the R ampersand D QA plans, like any others, require audits or surveillances and may require revisions if the scope of the experiment changes. 1 ref., 1 fig

  6. Risk Assessment and Integration Team (RAIT) Portfolio Risk Analysis Strategy

    Science.gov (United States)

    Edwards, Michelle

    2010-01-01

    Impact at management level: Qualitative assessment of risk criticality in conjunction with risk consequence, likelihood, and severity enable development of an "investment policy" towards managing a portfolio of risks. Impact at research level: Quantitative risk assessments enable researchers to develop risk mitigation strategies with meaningful risk reduction results. Quantitative assessment approach provides useful risk mitigation information.

  7. 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.

  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. 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...

  10. 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.

  11. Optimal Portfolio Strategy under Rolling Economic Maximum Drawdown Constraints

    Directory of Open Access Journals (Sweden)

    Xiaojian Yu

    2014-01-01

    Full Text Available This paper deals with the problem of optimal portfolio strategy under the constraints of rolling economic maximum drawdown. A more practical strategy is developed by using rolling Sharpe ratio in computing the allocation proportion in contrast to existing models. Besides, another novel strategy named “REDP strategy” is further proposed, which replaces the rolling economic drawdown of the portfolio with the rolling economic drawdown of the risky asset. The simulation tests prove that REDP strategy can ensure the portfolio to satisfy the drawdown constraint and outperforms other strategies significantly. An empirical comparison research on the performances of different strategies is carried out by using the 23-year monthly data of SPTR, DJUBS, and 3-month T-bill. The investment cases of single risky asset and two risky assets are both studied in this paper. Empirical results indicate that the REDP strategy successfully controls the maximum drawdown within the given limit and performs best in both return and risk.

  12. Noise sensitivity of portfolio selection in constant conditional correlation GARCH models

    Science.gov (United States)

    Varga-Haszonits, I.; Kondor, I.

    2007-11-01

    This paper investigates the efficiency of minimum variance portfolio optimization for stock price movements following the Constant Conditional Correlation GARCH process proposed by Bollerslev. Simulations show that the quality of portfolio selection can be improved substantially by computing optimal portfolio weights from conditional covariances instead of unconditional ones. Measurement noise can be further reduced by applying some filtering method on the conditional correlation matrix (such as Random Matrix Theory based filtering). As an empirical support for the simulation results, the analysis is also carried out for a time series of S&P500 stock prices.

  13. Examining Extension's Capacity in Community Resource and Economic Development: Viewpoints of Extension Administrators on the Role of Community Resource and Economic Development in the Extension Portfolio

    Science.gov (United States)

    Urbanowitz, Seth C.; Wilcox, Michael D., Jr.

    2013-01-01

    The survey-based research reported here offers insights on community, resource, and economic development (CRED) Extension programming at the national and regional level. The results present a national picture of CRED programming, research, and potential future programming opportunities that Extension could capitalize on. The research shows that…

  14. Development of a Coal Quality Expert

    Energy Technology Data Exchange (ETDEWEB)

    None

    1998-06-20

    ABB Power Plant Laboratories Combustion Engineering, Inc., (ABB CE) and CQ Inc. completed a broad, comprehensive program to demonstrate the economic and environmental benefits of using higher quality U.S. coals for electrical power generation and developed state-of-the-art user-friendly software--Coal Quality Expert (CQE)-to reliably predict/estimate these benefits in a consistent manner. The program was an essential extension and integration of R and D projects performed in the past under U.S. DOE and EPRI sponsorship and it expanded the available database of coal quality and power plant performance information. This software will permit utilities to purchase the lowest cost clean coals tailored to their specific requirements. Based on common interest and mutual benefit, the subject program was cosponsored by the U.S. DOE, EPRI, and eight U.S. coal-burning utilities. In addition to cosponsoring this program, EPN contributed its background research, data, and computer models, and managed some other supporting contracts under the terms of a project agreement established between CQ Inc. and EPRI. The essential work of the proposed project was performed under separate contracts to CQ Inc. by Electric Power Technologies (El?'T), Black and Veatch (B and V), ABB Combustion Engineering, Babcock and Wilcox (B and W), and Decision Focus, Inc. Although a significant quantity of the coals tied in the United States are now cleaned to some degree before firing, for many of these coals the residual sulfur content requires users to install expensive sulfur removal systems and the residual ash causes boilers to operate inefficiently and to require frequent maintenance. Disposal of the large quantities of slag and ash at utility plant sites can also be problematic and expensive. Improved and advanced coal cleaning processes can reduce the sulfur content of many coals to levels conforming to environmental standards without requiring post-combustion desulfurization systems. Also

  15. Hospital innovation portfolios: Key determinants of size and innovativeness

    DEFF Research Database (Denmark)

    Schultz, Carsten; Zippel-Schultz, Bettina; Salomo, Søren

    2012-01-01

    and reward systems) organizational mechanisms. Methodology: To develop hypotheses, we integrated the innovation management literature into the hospital context. Detailed information about the innovation portfolio of 87 German hospitals was generated and combined with multirespondent survey data using ratings....... Reward systems did not have direct effects on the composition of innovation portfolios. However, they adjusted bottom-up employee and top-down strategic initiatives to match with the existing organization, thereby decreasing the degree of innovativeness and enforcing exploitation. Practice Implications......: Hospitals should intertwine employee encouragement, analytical approaches, and formal reward systems depending on organizational goals....

  16. Development of a VMAT quality assurance program

    International Nuclear Information System (INIS)

    Silva, Ricardo Goulart da

    2013-01-01

    Modern radiation therapy keeps evolving and the technological changes include new imaging modalities, new patient immobilization devices and new treatment delivery systems. These advances have made it possible to reduce the dose to normal tissue structures and consequently minimize the risk of toxicity and morbidity, while allowing for dose escalation to the tumor volumes, potentially leading to improved locoregional control. Traditional IMRT techniques offer all of these features but the treatment session time is usually long, mainly for the head and neck cases. Currently, the VMAT technique is a reality in reference centers around the world. This technology has improved delivery efficiency over IMRT, decreasing the treatment application time, as this modality introduces extra degrees of freedom in the optimization process. The modulation of the radiation beams is achieved by simultaneous variation of dynamic parameters such as dose rate, gantry speed and leaves speed. The high level of complexity associated to the new treatment trends, inevitably, requires more accuracy and more rigorous quality assurance programs. The commissioning methods reported for the Varian RapidArc system were extended to an Elekta Synergy linear accelerator, using custom files built in the iComCAT software. Specific tests for the machine quality assurance are presented and also the dosimetric validation process applied to the Monaco treatment planning system. The MLC parameters, modeled by the Monte Carlo algorithm, were analyzed and the TG 119 tests were adapted for VMAT planning. In the end, a specific program developed for the VMAT technology for Elekta accelerators is presented. (author)

  17. A risk-return based model to measure the performance of portfolio management

    Directory of Open Access Journals (Sweden)

    Hamid Reza Vakili Fard

    2014-10-01

    Full Text Available The primary concern in all portfolio management systems is to find a good tradeoff between risk and expected return and a good balance between accepted risk and actual return indicates the performance of a particular portfolio. This paper develops “A-Y Model” to measure the performance of a portfolio and analyze it during the bull and the bear market. This paper considers the daily information of one year before and one year after Iran's 2013 precedential election. The proposed model of this paper provides lost profit and unrealized loss to measure the portfolio performance. The proposed study first ranks the resulted data and then uses some non-parametric methods to see whether there is any change because of the changes in markets on the performance of the portfolio. The results indicate that despite increasing profitable opportunities in bull market, the performance of the portfolio did not match the target risk. As a result, using A-Y Model as a risk and return base model to measure portfolio management's performance appears to reduce risks and increases return of portfolio.

  18. The feasibility and acceptability of using a portfolio to assess professional competence.

    Science.gov (United States)

    Miller, Patricia A; Tuekam, Rosine

    2011-01-01

    Little is known about physical therapists' views on the use of portfolios to evaluate professional competence. The purpose of this study was to gather the opinions of physical therapists on the feasibility and acceptability of a portfolio prepared to demonstrate evidence of clinical specialization through reported activities and accomplishments related to professional development, leadership, and research. Twenty-nine Canadian physical therapists practising in the neurosciences area were given 8 weeks to prepare a professional portfolio. Participants submitted the portfolio along with a survey addressing the preparation of the portfolio and its role as an assessment tool. Qualitative content analysis was used to interpret the participants' comments. Participants reported that maintaining organized records facilitated the preparation of their portfolio. They experienced pride when reviewing their completed portfolios, which summarized their professional activities and highlighted their achievements. Concerns were noted about the veracity of self-reported records and the ability of the documentation to provide a comprehensive view of the full scope of the professional competencies required for clinical specialization (e.g., clinical skills). The study's findings support the feasibility and acceptability of a portfolio review to assess professional competence and clinical specialization in physical therapy and have implications for both physical therapists and professional agencies.

  19. 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.

  20. Portfolio Implementation Risk Management Using Evolutionary Multiobjective Optimization

    Directory of Open Access Journals (Sweden)

    David Quintana

    2017-10-01

    Full Text Available Portfolio management based on mean-variance portfolio optimization is subject to different sources of uncertainty. In addition to those related to the quality of parameter estimates used in the optimization process, investors face a portfolio implementation risk. The potential temporary discrepancy between target and present portfolios, caused by trading strategies, may expose investors to undesired risks. This study proposes an evolutionary multiobjective optimization algorithm aiming at regions with solutions more tolerant to these deviations and, therefore, more reliable. The proposed approach incorporates a user’s preference and seeks a fine-grained approximation of the most relevant efficient region. The computational experiments performed in this study are based on a cardinality-constrained problem with investment limits for eight broad-category indexes and 15 years of data. The obtained results show the ability of the proposed approach to address the robustness issue and to support decision making by providing a preferred part of the efficient set. The results reveal that the obtained solutions also exhibit a higher tolerance to prediction errors in asset returns and variance–covariance matrix.

  1. Integrating quality assurance and research and development

    International Nuclear Information System (INIS)

    Dronkers, J.J.

    1985-01-01

    Quality assurance programs cannot be transferred from one organization to another without attention to existing cultures and traditions. Introduction of quality assurance programs constitutes a significant change and represents a significant impact on the organizational structure and operational mode. Quality assurance professionals are change agents, but do not know how to be effective ones. Quality assurance as a body of knowledge and experience can only become accepted when its practitioners become familiar with their role as change agents. 8 references

  2. Self-Assessment of competence during post-graduate training in general medicine: A preliminary study to develop a portfolio for further education

    Science.gov (United States)

    Huenges, Bert; Woestmann, Barbara; Ruff-Dietrich, Susanne; Rusche, Herbert

    2017-01-01

    Awareness of one’s own strengths and weaknesses is a key qualification for the specialist physician. We examined how physicians undergoing specialist training in general medicine rate themselves in different areas. For this purpose, 139 participants receiving post-graduate training in general practice offered by the Medical Association of Westfalen-Lippe assessed themselves regarding their subjective confidence in 20 core competencies and 47 situations involving patient counseling in general practice. Their self-assessments were recorded on a five-point Likert scale. The study questions addressed acceptance and practicability of self-assessment, mean values, reliability, stratification and plausibility of the results in group comparison. On average participants rated their subjective confidence with 3.4 out of 5 points. The results are self-consistent (Cronbach’s alpha >0.8), although there are considerable differences among competencies and among participants. The latter can be explained partly by biographical data, which supports the plausibility of the data. Participants stated that regularly gathering data on subjective learning needs and the discussion of these needs with mentors and trainers contributes to improving their specialist training. Elements for self-assessment are suitable for integration into a postgraduate training portfolio. These should be supplemented by formative assessment procedures. PMID:29226236

  3. Contract portfolio optimization for a gasoline supply chain

    Science.gov (United States)

    Wang, Shanshan

    Major oil companies sell gasoline through three channels of trade: branded (associated with long-term contracts), unbranded (associated with short-term contracts), and spot market. The branded channel provides them with a long-term secured and sustainable demand source, but requires an inflexible long-term commitment with demand and price risks. The unbranded channel provides a medium level of allocation flexibility. The spot market provides them with the greatest allocation flexibility to the changing market conditions, but the spot market's illiquidity mitigates this benefit. In order to sell the product in a profitable and sustainable way, they need an optimal contract portfolio. This dissertation addresses the contract portfolio optimization problem from different perspectives (retrospective view and forward-looking view) at different levels (strategic level, tactical level and operational level). The objective of the retrospective operational model is to develop a financial case to estimate the business value of having a dynamic optimization model and quantify the opportunity values missed in the past. This model proves the financial significance of the problem and provides top management valuable insights into the business. BP has applied the insights and principles gained from this work and implemented the model to the entire Midwest gasoline supply chain to retrospectively review optimization opportunities. The strategic model is the most parsimonious model that captures the essential economic tradeoffs among different contract types, to demonstrate the need for a contract portfolio and what drives the portfolio. We examine the properties of the optimal contract portfolio and provide a comparative statics analysis by changing the model parameters. As the strategic model encapsulates the business problem at the macroscopic level, the tactical model resolves lower level issues. It considers the time dynamics, the information flow and contracting flow. Using

  4. Using Electronic Student Portfolios in Management Education: A Stakeholder Perspective.

    Science.gov (United States)

    Chappell, David S.; Schermerhorn, John R., Jr.

    1999-01-01

    A business school is using electronic student portfolios as an academic assessment and career development tool. They are also used for internship and job placements. It is recommended that they be mandatory, even for students with weaker computer skills, and they should have defined deadlines and feedback mechanisms. (SK)

  5. A Polynomial Optimization Approach to Constant Rebalanced Portfolio Selection

    NARCIS (Netherlands)

    Takano, Y.; Sotirov, R.

    2010-01-01

    We address the multi-period portfolio optimization problem with the constant rebalancing strategy. This problem is formulated as a polynomial optimization problem (POP) by using a mean-variance criterion. In order to solve the POPs of high degree, we develop a cutting-plane algorithm based on

  6. Housing wealth and household portfolios in an aging society

    NARCIS (Netherlands)

    Rouwendal, J.

    2009-01-01

    Housing is one of the most important consumption goods, also for the elderly. For owner-occupiers, housing equity is moreover usually the most important asset in their investment portfolio, and hence, household wealth of the elderly is extremely sensitive to developments on the housing market. This

  7. Self-Regulation through Portfolio Assessment in Writing Classrooms

    Science.gov (United States)

    Mak, Pauline; Wong, Kevin M.

    2018-01-01

    Portfolio assessment (PA) is promulgated as a useful tool to promote learning through assessment. While the benefits of PA are well documented, there is a lack of empirical research on how students' self-regulation can be effectively fostered in writing classrooms, and how the use of PA can develop students' self-regulated capacities. This…

  8. Looking like Everyone Else: Academic Portfolios for Librarians

    Science.gov (United States)

    vanDuinkerken, Wyoma; Coker, Catherine; Anderson, Margaret

    2010-01-01

    The academic librarian faces a unique range of changing duties and responsibilities that are often inappropriately documented. The development of an academic portfolio that creates a record of librarianship, scholarship, and service can solve this issue for librarians on the tenure-track or on a job hunt. This paper describes how academic…

  9. A polynomial optimization approach to constant rebalanced portfolio selection

    NARCIS (Netherlands)

    Takano, Y.; Sotirov, R.

    2012-01-01

    We address the multi-period portfolio optimization problem with the constant rebalancing strategy. This problem is formulated as a polynomial optimization problem (POP) by using a mean-variance criterion. In order to solve the POPs of high degree, we develop a cutting-plane algorithm based on

  10. Is the Market Portfolio Efficient? A New Test to Revisit the Roll (1977) versus Levy and Roll (2010) Controversy

    OpenAIRE

    Marie Brière; Bastien Drut; Valérie Mignon; Kim Oosterlinck; Ariane Szafarz

    2011-01-01

    Levy and Roll (Review of Financial Studies, 2010) have recently revived the debate related to the market portfolio's efficiency suggesting that it may be mean-variance efficient after all. This paper develops an alternative test of portfolio mean-variance efficiency based on the realistic assumption that all assets are risky. The test is based on the vertical distance of a portfolio from the efficient frontier. Monte Carlo simulations show that our test outperforms the previous mean-variance ...

  11. Development of an Instructional Quality Assurance Model in Nursing Science

    Science.gov (United States)

    Ajpru, Haruthai; Pasiphol, Shotiga; Wongwanich, Suwimon

    2011-01-01

    The purpose of this study was to develop an instructional quality assurance model in nursing science. The study was divided into 3 phases; (1) to study the information for instructional quality assurance model development (2) to develop an instructional quality assurance model in nursing science and (3) to audit and the assessment of the developed…

  12. 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)

  13. 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...

  14. 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.

  15. 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

  16. Development of a dementia assessment quality database

    DEFF Research Database (Denmark)

    Johannsen, P.; Jørgensen, Kasper; Korner, A.

    2011-01-01

    OBJECTIVE: Increased focus on the quality of health care requires tools and information to address and improve quality. One tool to evaluate and report the quality of clinical health services is quality indicators based on a clinical database. METHOD: The Capital Region of Denmark runs a quality...... database for dementia evaluation in the secondary health system. One volume and seven process quality indicators on dementia evaluations are monitored. Indicators include frequency of demented patients, percentage of patients evaluated within three months, whether the work-up included blood tests, Mini...... for the data analyses. RESULTS: The database was constructed in 2005 and covers 30% of the Danish population. Data from all consecutive cases evaluated for dementia in the secondary health system in the Capital Region of Denmark are entered. The database has shown that the basic diagnostic work-up programme...

  17. Developing methods of controlling quality costs

    OpenAIRE

    Gorbunova A. V.; Maximova O. N.; Ekova V. A.

    2017-01-01

    The article examines issues of managing quality costs, problems of applying economic methods of quality control, implementation of progressive methods of quality costs management in enterprises with the view of improving the efficiency of their evaluation and analysis. With the aim of increasing the effectiveness of the cost management mechanism, authors introduce controlling as a tool of deviation analysis from the standpoint of the process approach. A list of processes and corresponding eva...

  18. 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...

  19. 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.

  20. 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.

  1. Time evolving multi-city dependencies and robustness tradeoffs for risk-based portfolios of conservation, transfers, and cooperative water supply infrastructure development pathways

    Science.gov (United States)

    Trindade, B. C.; Reed, P. M.; Zeff, H. B.; Characklis, G. W.

    2016-12-01

    Water scarcity in historically water-rich regions such as the southeastern United States is becoming a more prevalent concern. It has been shown that cooperative short-term planning that relies on conservation and transfers of existing supplies amongst communities can be used by water utilities to mitigate the effects of water scarcity in the near future. However, in the longer term, infrastructure expansion is likely to be necessary to address imbalances between growing water demands and the available supply capacity. This study seeks to better diagnose and avoid candidate modes for system failure. Although it is becoming more common for water utilities to evaluate the robustness of their water supply, defined as the insensitivity of their systems to errors in deeply uncertain projections or assumptions, defining robustness is particularly challenging in multi-stakeholder regional contexts for decisions that encompass short management actions and long-term infrastructure planning. Planning and management decisions are highly interdependent and strongly shape how a region's infrastructure itself evolves. This research advances the concept of system robustness by making it evolve over time rather than static, so that it is applicable to an adaptive system and therefore more suited for use for combined short and long-term planning efforts. The test case for this research is the Research Triangle area of North Carolina, where the cities of Raleigh, Durham, Cary and Chapel Hill are experiencing rapid population growth and increasing concerns over drought. This study is facilitating their engagement in cooperative and robust regional water portfolio planning. The insights from this work have general merit for regions where adjacent municipalities can benefit from improving cooperative infrastructure investments and more efficient resource management strategies.

  2. 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.

  3. 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....

  4. Developing methods of controlling quality costs

    Directory of Open Access Journals (Sweden)

    Gorbunova A. V.

    2017-01-01

    Full Text Available The article examines issues of managing quality costs, problems of applying economic methods of quality control, implementation of progressive methods of quality costs management in enterprises with the view of improving the efficiency of their evaluation and analysis. With the aim of increasing the effectiveness of the cost management mechanism, authors introduce controlling as a tool of deviation analysis from the standpoint of the process approach. A list of processes and corresponding evaluation criteria in the quality management system of enterprises is introduced. Authors also introduce the method of controlling quality costs and propose it for the practical application, which allows them to determine useful and unnecessary costs at the existing operating plant. Implementing the proposed recommendations in the system of cost management at an enterprise will allow to improve productivity of processes operating and reduce wasted expense on the quality of the process on the basis of determining values of useful and useless costs of quality according to criteria of processes functioning in the system of quality management.

  5. 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 ...

  6. 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

  7. Think Portfolios, Not Programs

    Science.gov (United States)

    2014-12-01

    marketing , new product development, forming corporate partnerships, research and development. Critical to the success of a product line is the ability to...track the market closely and react swiftly to emerging trends and changes in consumer tastes before competitors do. Product line managers who... monopolistic power over the govern- ment for a majority of a program’s life span. As the DoD has moved toward acquiring larger and fewer major systems, this

  8. The development of water quality methods within ecological ...

    African Journals Online (AJOL)

    The development of water quality methods within ecological Reserve ... Water Act (NWA, No 36 of 1998), the ecological Reserve is defined as the quality and quantity ... provide ecologically important flow-related habitat, or geomorphological ...

  9. Development of Service Quality Scale for Surgical Hospitalization

    Directory of Open Access Journals (Sweden)

    Ching-I Teng

    2007-01-01

    Conclusion: The SQSH has sufficient usefulness, reliability and validity. Future research on service quality can apply the SQSH scale to link with utilization intention and patient loyalty and attempt to develop a hospitalization quality scale for other departments.

  10. Quality assurance for the research and development of nuclear technology

    International Nuclear Information System (INIS)

    Yang, Myung Seung; Kim, Young Sea; Lee, In Koo; Lim, Nam Jin; Ha, Jung Goo; Kim, Yoong Yoon; Koh, Han Joon; Kim, Kwan Hyun; Kim, Chang Deog; Park, Sang Pill

    1987-12-01

    To establish the KAERI-wide quality system, the KAERI QA program was developed. Internal evaluation was performed to determine the current status of quality activities. Study of the advanced quality technology such as QA in R and D , design QA, reliability, software QA was performed for the future application. The KAERI-wide quality system should be implemented as proposed in this report and will be improved through evaluation of the quality and application of the advanced quality technology to have the optimum quality system. (Author)

  11. Applying Quality Costs in a Software Development Environment

    Directory of Open Access Journals (Sweden)

    I.P. Hollingsworth

    1999-05-01

    Full Text Available This paper shows how Quality Costs can be a measure of software quality. The relationship between Quality Costs and other software quality metrics is briefly explained, and software development oriented versions of the two principal Quality Cost models are described. Finally the paper discusses the major issues involved in setting up a software Quality Cost programme. The concepts are based on previous research on Quality Costs in manufacturing, coupled with work on software metrics and the work currently being undertaken by the authors in a number of industries.

  12. Quality economies as a direction the development of scientific knowledge

    Directory of Open Access Journals (Sweden)

    Shkarina T.Yu.

    2011-09-01

    Full Text Available Currently, more and more professionals in the field of quality management considering economic aspects of quality, and many economists consider quality as the object of study. However, this direction of development of scientific knowledge economy as the quality is not recognized by many economists. The paper attempts to show the development of this promising research area that has its own history, its theory, tools and methods.

  13. Mapping patent classifications: Portfolio and statistical analysis, and the comparison of strengths and weaknesses

    NARCIS (Netherlands)

    Leydesdorff, L.; Kogler, D.F.; Yan, B.

    The Cooperative Patent Classifications (CPC) recently developed cooperatively by the European and US Patent Offices provide a new basis for mapping patents and portfolio analysis. CPC replaces International Patent Classifications (IPC) of the World Intellectual Property Organization. In this study,

  14. e-Portfolio as reflection tool during teaching practice: The interplay ...

    African Journals Online (AJOL)

    Strydom, SC, Dr

    2017-02-01

    Feb 1, 2017 ... students will impact the potential success of the integration of ... continuous professional development, e-portfolios .... placed on lifelong and life-wide learning within the ..... http://electronicportfolios.org/balance/balancingarti.

  15. Company Portfolios Answer the Question: What Do You Know about My Company?

    Science.gov (United States)

    Watson, Michelle L.

    2001-01-01

    Job seekers can demonstrate their knowledge of a potential employer by developing a company portfolio. Elements include company history, mission, values, and goals; size and location(s); financial status; and recent changes in the company and industry. (SK)

  16. A portfolio risk analysis on electricity supply planning

    International Nuclear Information System (INIS)

    Huang, Y.-H.; Wu, J.-H.

    2008-01-01

    Conventional electricity planning selects from a range of alternative technologies based on the least-cost method without assessing cost-related risks. The current approach to determining energy generation portfolios creates a preference for fossil fuel. Consequently, this preference results in increased exposure to recent fluctuations in fossil fuel prices, particularly for countries heavily depend on imported energy. This paper applies portfolio theory in conventional electricity planning with Taiwan as a case study. The model objective is to minimize the 'risk-weighted present value of total generation cost'. Both the present value of generating cost and risk (variance of the generating cost) are considered. Risk of generating cost is introduced for volatile fuel prices and uncertainty of technological change and capital cost reduction. The impact of risk levels on the portfolio of power generation technologies is also examined to provide some valuable policy suggestions. Study results indicate that replacing fossil fuel with renewable energy helps reduce generating cost risk. However, due to limited renewable development potential in Taiwan, there is an upper bound of 15% on the maximum share of renewable energy in the generating portfolio. In the meantime, reevaluating the current nuclear energy policy for reduced exposure to fossil fuel price fluctuations is worthwhile

  17. 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.

  18. Acceptability of a reflective e-portfolio instituted in an orthodontic specialist programme: a pilot study.

    Science.gov (United States)

    Tonni, I; Oliver, R G

    2013-08-01

    The purpose of the study was to highlight students' and mentors' acceptability of a reflective e-portfolio instituted in a postgraduate orthodontic programme in the UK. A reflective e-portfolio was developed on the basis of principles provided by a literature search and was piloted for 2 months with six students and seven mentors. At the end of the experience, mentors' and students' acceptability of the e-portfolio with a reflective component was studied using questionnaires. The data were analysed using basic quantitative and qualitative methods. Students' response highlighted acceptability issues related to each aspect of the e-portfolio derived from the literature: relevance of the e-portfolio reflective part; time required for the process; support and mentoring; the implementation method; and the electronic medium. Mentors showed a more positive attitude towards the e-portfolio, expressing only some concerns about the time involved in using it. Furthermore, the analysis of the data highlighted some other acceptability matters: the specificity of the e-portfolio, the communication amongst students and the relationship between students and mentors. The future successful implementation of the reflective e-portfolio will depend on the productive management of the acceptability issues identified by students and mentors, in particular:(i)the specificity of the e-portfolio that would avoid its overlapping with other part of the programme;(ii)the increasing communication amongst students to improve their knowledge of the reflective writing process; and (iii)the development of a relationship between students and mentors helping to create the appropriate environment for reflection. © 2013 John Wiley & Sons A/S. Published by John Wiley & Sons Ltd.

  19. 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.

  20. Estimated correlation matrices and portfolio optimization

    Science.gov (United States)

    Pafka, Szilárd; Kondor, Imre

    2004-11-01

    Correlations of returns on various assets play a central role in financial theory and also in many practical applications. From a theoretical point of view, the main interest lies in the proper description of the structure and dynamics of correlations, whereas for the practitioner the emphasis is on the ability of the models to provide adequate inputs for the numerous portfolio and risk management procedures used in the financial industry. The theory of portfolios, initiated by Markowitz, has suffered from the “curse of dimensions” from the very outset. Over the past decades a large number of different techniques have been developed to tackle this problem and reduce the effective dimension of large bank portfolios, but the efficiency and reliability of these procedures are extremely hard to assess or compare. In this paper, we propose a model (simulation)-based approach which can be used for the systematical testing of all these dimensional reduction techniques. To illustrate the usefulness of our framework, we develop several toy models that display some of the main characteristic features of empirical correlations and generate artificial time series from them. Then, we regard these time series as empirical data and reconstruct the corresponding correlation matrices which will inevitably contain a certain amount of noise, due to the finiteness of the time series. Next, we apply several correlation matrix estimators and dimension reduction techniques introduced in the literature and/or applied in practice. As in our artificial world the only source of error is the finite length of the time series and, in addition, the “true” model, hence also the “true” correlation matrix, are precisely known, therefore in sharp contrast with empirical studies, we can precisely compare the performance of the various noise reduction techniques. One of our recurrent observations is that the recently introduced filtering technique based on random matrix theory performs

  1. 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.

  2. 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.

  3. 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.

  4. Characteristics of Omega-Optimized Portfolios at Different Levels of Threshold Returns

    Directory of Open Access Journals (Sweden)

    Renaldas Vilkancas

    2014-12-01

    Full Text Available There is little literature considering effects that the loss-gain threshold used for dividing good and bad outcomes by all downside (upside risk measures has on portfolio optimization and performance. The purpose of this study is to assess the performance of portfolios optimized with respect to the Omega function developed by Keating and Shadwick at different levels of the threshold returns. The most common choices of the threshold values used in various Omega studies cover the risk-free rate and the average market return or simply a zero return, even though the inventors of this measure for risk warn that “using the values of the Omega function at particular points can be critically misleading” and that “only the entire Omega function contains information on distribution”. The obtained results demonstrate the importance of the selected values of the threshold return on portfolio performance – higher levels of the threshold lead to an increase in portfolio returns, albeit at the expense of a higher risk. In fact, within a certain threshold interval, Omega-optimized portfolios achieved the highest net return, compared with all other strategies for portfolio optimization using three different test datasets. However, beyond a certain limit, high threshold values will actually start hurting portfolio performance while meta-heuristic optimizers typically are able to produce a solution at any level of the threshold, and the obtained results would most likely be financially meaningless.

  5. Use of crops and livestock futures contracts in portfolios: an analysis of feasibility

    Directory of Open Access Journals (Sweden)

    Mattos Fabio L.

    2003-01-01

    Full Text Available According to Portfolio Theory, by combining assets that show a correlation inferior to one (1 among their individual returns, it becomes possible to create portfolios that reduce risk without damaging expected return. Crop and livestock futures contracts and company stocks show such a characteristic, which signals potential benefits when forming portfolios combining these two types of assets. This investment strategy is not often utilized in Brazil. The purpose of our research was to assess whether such an asset combination is actually advantageous to those creating investment portfolios in the Brazilian market. Our evaluation used instruments of analysis developed by Markowitz in Portfolio Theory and data about the return from crop and livestock futures contracts and stocks. The data was gathered from the Brazilian Futures and Commodities Exchange (BM&F and Brazil?s National Association of Open Market Institutions (ANDIMA between July 1994 and December 1998. The results of this work showed that the combination of these two types of assets in investment portfolios can be an interesting portfolio management alternative.

  6. BEHAVIOR QUALITY DECIDES OUR CONDITIONS OF SURVIVAL AND DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Tu Runsheng

    2013-06-01

    Full Text Available Background of the topic: The unusual significance of quality has been found, attribute quality concept (quality is the general nature of its supporter has been found, the quality exchange law and the standard to one's liking with quality have been advanced in the process that present wit research the connotation of quality and the value of quality. (2 Current issue: The theory of knowledge economy, the theory of quality first, the theory of distribution according to work and the subjective quality concept all have theirs aggravated limitation. (3 the purpose of this research: Propel the theory of quality forward strengthen the confidence of quality people, spur them to apply quality knowledge and improve their behavior quality in their work, quicken the tempo human to raise the living quality finally. (4 Research method and conclusion: The conclusion of "behavior quality decides resources created, owned and disposed and can further decide the living state and the developing state of personality, organization, nationality and county" has been epitomized out by analyzing the connotation of quality concept, the value of quality and society law; the theory of quality world have obtained. The main reasons that behavior quality decides resources appropriated and disposed are the action of natural law, society law, the system of society value. The specific important reasons still are: the consciousness of protecting good and punishing inferior, popular feeling is partial to the things of high quality; Behavior is controlled by the ideology (thinking of fair deal; Behavior quality decides the efficiency of work; Quality has value; the latent rule about mankind to continue and excellent.

  7. 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

  8. 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.

  9. 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...

  10. 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

  11. 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…

  12. 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…

  13. 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…

  14. 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...

  15. 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...

  16. 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

  17. 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.

  18. 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

  19. 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.

  20. Incorporating Contagion in Portfolio Credit Risk Models Using Network Theory

    Directory of Open Access Journals (Sweden)

    Ioannis Anagnostou

    2018-01-01

    Full Text Available Portfolio credit risk models estimate the range of potential losses due to defaults or deteriorations in credit quality. Most of these models perceive default correlation as fully captured by the dependence on a set of common underlying risk factors. In light of empirical evidence, the ability of such a conditional independence framework to accommodate for the occasional default clustering has been questioned repeatedly. Thus, financial institutions have relied on stressed correlations or alternative copulas with more extreme tail dependence. In this paper, we propose a different remedy—augmenting systematic risk factors with a contagious default mechanism which affects the entire universe of credits. We construct credit stress propagation networks and calibrate contagion parameters for infectious defaults. The resulting framework is implemented on synthetic test portfolios wherein the contagion effect is shown to have a significant impact on the tails of the loss distributions.

  1. Generation III+ Reactor Portfolio

    International Nuclear Information System (INIS)

    2010-03-01

    While the power generation needs of utilities are unique and diverse, they are all faced with the double challenge of meeting growing electricity needs while curbing CO 2 emissions. To answer these diverse needs and help tackle this challenge, AREVA has developed several reactor models which are briefly described in this document: The EPR TM Reactor: designed on the basis of the Konvoi (Germany) and N4 (France) reactors, the EPRTM reactor is an evolutionary model designed to achieve best-in-class safety and operational performance levels. The ATMEA1 TM reactor: jointly designed by Mitsubishi Heavy Industries and AREVA through ATMEA, their common company. This reactor design benefits from the competencies and expertise of the two mother companies, which have commissioned close to 130 reactor units. The KERENA TM reactor: Designed on the basis of the most recent German BWR reactors (Gundremmingen) the KERENA TM reactor relies on proven technology while also including innovative, yet thoroughly tested, features. The optimal combination of active and passive safety systems for a boiling water reactor achieves a very low probability of severe accident

  2. 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...

  3. Economic development and Environmental quality: The ...

    African Journals Online (AJOL)

    The main aim of this study was to analyze evidence of an environmental Kuznets curve for water pollution in the developing and developed countries. The study was conducted based on a panel data set of 54 countries – that were categorized into six groups of “developed countries”, “developing countries”, “developed ...

  4. Quality assurance in a large research and development laboratory

    International Nuclear Information System (INIS)

    Neill, F.H.

    1980-01-01

    Developing a quality assurance program for a large research and development laboratory provided a unique opportunity for innovative planning. The quality assurance program that emerged has been tailored to meet the requirements of several sponsoring organizations and contains the flexibility for experimental programs ranging from large engineering-scale development projects to bench-scale basic research programs

  5. Quality Development in Healthcare: Participation vs. Accreditation

    DEFF Research Database (Denmark)

    Simonsen, Jesper; Hertzum, Morten; Scheuer, John Damm

    2018-01-01

    and balanced with participatory approaches that allow for local experimentation and implementation of high-quality outcomes. We describe accreditation and participatory design as two approaches to reconfiguring and aligning work organisation and technology; further, we emphasise the differences in each...

  6. Childcare Quality and Preschoolers' Math Development

    Science.gov (United States)

    Choi, Ji Young; Dobbs-Oates, Jennifer

    2014-01-01

    This study examined the associations between four types of childcare quality (i.e. teacher-child closeness, frequency of math-related activities, and teacher education and experience) and preschoolers' residualised gain in math over the course of six months. Additionally, potential interactions between teacher-child closeness and other indicators…

  7. More efficient optimization of long-term water supply portfolios

    Science.gov (United States)

    Kirsch, Brian R.; Characklis, Gregory W.; Dillard, Karen E. M.; Kelley, C. T.

    2009-03-01

    The use of temporary transfers, such as options and leases, has grown as utilities attempt to meet increases in demand while reducing dependence on the expansion of costly infrastructure capacity (e.g., reservoirs). Earlier work has been done to construct optimal portfolios comprising firm capacity and transfers, using decision rules that determine the timing and volume of transfers. However, such work has only focused on the short-term (e.g., 1-year scenarios), which limits the utility of these planning efforts. Developing multiyear portfolios can lead to the exploration of a wider range of alternatives but also increases the computational burden. This work utilizes a coupled hydrologic-economic model to simulate the long-term performance of a city's water supply portfolio. This stochastic model is linked with an optimization search algorithm that is designed to handle the high-frequency, low-amplitude noise inherent in many simulations, particularly those involving expected values. This noise is detrimental to the accuracy and precision of the optimized solution and has traditionally been controlled by investing greater computational effort in the simulation. However, the increased computational effort can be substantial. This work describes the integration of a variance reduction technique (control variate method) within the simulation/optimization as a means of more efficiently identifying minimum cost portfolios. Random variation in model output (i.e., noise) is moderated using knowledge of random variations in stochastic input variables (e.g., reservoir inflows, demand), thereby reducing the computing time by 50% or more. Using these efficiency gains, water supply portfolios are evaluated over a 10-year period in order to assess their ability to reduce costs and adapt to demand growth, while still meeting reliability goals. As a part of the evaluation, several multiyear option contract structures are explored and compared.

  8. Using Electronic Portfolio to Promote Professional Learning Community for Pre-Service Early Childhood Teachers at Alquds University

    Science.gov (United States)

    Khales, Buad

    2016-01-01

    The present study aims to explore whether the electronic portfolio can influence pre-service teachers' education and to examine how professional learning communities develop through electronic portfolios. To achieve this, twenty-four student-teachers taking a course in early childhood education at Al-Quds University participated in a study to…

  9. Measuring New Product Portfolio Innovativeness: How Differences in Scale Width and Evaluator Perspectives Affect its Relationship with Performance

    DEFF Research Database (Denmark)

    Schultz, Carsten; Salomo, Søren; Talke, Katrin

    2013-01-01

    Portfolio innovativeness is a central variable in innovation management. However, the impact of portfolio innovativeness on new product development (NPD) performance is unclear, which may partly be due to the construct’s multifaceted nature. Different facets may reflect different degrees of innov...

  10. The Dialogic Potential of ePortfolios: Formative Feedback and Communities of Learning within a Personal Learning Environment

    Science.gov (United States)

    Ehiyazaryan-White, Ester

    2012-01-01

    This paper reports on the findings of a study into the use of ePortfolios as personal learning environments (PLE) by a group of students pursuing Master's degrees in Education. The qualitative study explores the potential of the ePortfolio to support learners in engaging in formative peer and tutor feedback as well as in developing a learning…

  11. 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.

  12. The Maximum Entropy Principle and the Modern Portfolio Theory

    Directory of Open Access Journals (Sweden)

    Ailton Cassetari

    2003-12-01

    Full Text Available In this work, a capital allocation methodology base don the Principle of Maximum Entropy was developed. The Shannons entropy is used as a measure, concerning the Modern Portfolio Theory, are also discuted. Particularly, the methodology is tested making a systematic comparison to: 1 the mean-variance (Markovitz approach and 2 the mean VaR approach (capital allocations based on the Value at Risk concept. In principle, such confrontations show the plausibility and effectiveness of the developed method.

  13. On the development of quality assurance

    DEFF Research Database (Denmark)

    Andersen, Jens

    2014-01-01

    Contemporary research in quality assurance indicates that large uncertainties observed in interlaboratory comparisons to a large extent originate from a lack of competence of laboratory staff. This explanation is challenged by the present article for which six technologies and multiple series of ...... of uncertainties of certified reference materials (CRMs) gave results that differed significantly from those in the certificates of the CRMs. (C) 2014 Elsevier B.V. All rights reserved....

  14. The Effects of Development Team Skill on Software Product Quality

    Science.gov (United States)

    Beaver, Justin M.; Schiavone, Guy A.

    2006-01-01

    This paper provides an analysis of the effect of the skill/experience of the software development team on the quality of the final software product. A method for the assessment of software development team skill and experience is proposed, and was derived from a workforce management tool currently in use by the National Aeronautics and Space Administration. Using data from 26 smallscale software development projects, the team skill measures are correlated to 5 software product quality metrics from the ISO/IEC 9126 Software Engineering Product Quality standard. in the analysis of the results, development team skill is found to be a significant factor in the adequacy of the design and implementation. In addition, the results imply that inexperienced software developers are tasked with responsibilities ill-suited to their skill level, and thus have a significant adverse effect on the quality of the software product. Keywords: software quality, development skill, software metrics

  15. 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...

  16. A behavioural approach to financial portfolio selection problem: an empirical study using heuristics

    OpenAIRE

    Grishina, Nina

    2014-01-01

    This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University The behaviourally based portfolio selection problem with investor's loss aversion and risk aversion biases in portfolio choice under uncertainty are studied. The main results of this work are developed heuristic approaches for the prospect theory and cumulative prospect theory models proposed by Kahneman and Tversky in 1979 and 1992 as well as an empirical comparative analysis of these models ...

  17. 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.

  18. 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...

  19. 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…

  20. 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.

  1. Gateway to Quality: Online Professional Development for Family Childcare Providers

    Science.gov (United States)

    Durden, Tonia; Mincemoyer, Claudia; Crandall, Leslie; Alviz, Kit; Garcia, Aileen

    2016-01-01

    High-quality family childcare (FCC) can positively influence all areas of a child's growth and development. Thus, it is important to invest in efforts to increase quality, including providing professional development to enhance the skills of those caring for children in their homes. This study explores the characteristics of FCC providers who…

  2. Development of an ultra-portable ride quality meter.

    Science.gov (United States)

    2012-12-01

    FRAs Office of Research and Development has funded the development of an ultra-portable ride quality meter (UPRQM) under the Small Business and Innovative Research (SBIR) program. Track inspectors can use the UPRQM to locate segments of track that...

  3. Pragmatic quality metrics for evolutionary software development models

    Science.gov (United States)

    Royce, Walker

    1990-01-01

    Due to the large number of product, project, and people parameters which impact large custom software development efforts, measurement of software product quality is a complex undertaking. Furthermore, the absolute perspective from which quality is measured (customer satisfaction) is intangible. While we probably can't say what the absolute quality of a software product is, we can determine the relative quality, the adequacy of this quality with respect to pragmatic considerations, and identify good and bad trends during development. While no two software engineers will ever agree on an optimum definition of software quality, they will agree that the most important perspective of software quality is its ease of change. We can call this flexibility, adaptability, or some other vague term, but the critical characteristic of software is that it is soft. The easier the product is to modify, the easier it is to achieve any other software quality perspective. This paper presents objective quality metrics derived from consistent lifecycle perspectives of rework which, when used in concert with an evolutionary development approach, can provide useful insight to produce better quality per unit cost/schedule or to achieve adequate quality more efficiently. The usefulness of these metrics is evaluated by applying them to a large, real world, Ada project.

  4. 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.

  5. Potential barriers to the application of multi-factor portfolio analysis in public hospitals: evidence from a pilot study in the Netherlands.

    Science.gov (United States)

    Pavlova, Milena; Tsiachristas, Apostolos; Vermaeten, Gerhard; Groot, Wim

    2009-01-01

    Portfolio analysis is a business management tool that can assist health care managers to develop new organizational strategies. The application of portfolio analysis to US hospital settings has been frequently reported. In Europe however, the application of this technique has received little attention, especially concerning public hospitals. Therefore, this paper examines the peculiarities of portfolio analysis and its applicability to the strategic management of European public hospitals. The analysis is based on a pilot application of a multi-factor portfolio analysis in a Dutch university hospital. The nature of portfolio analysis and the steps in a multi-factor portfolio analysis are reviewed along with the characteristics of the research setting. Based on these data, a multi-factor portfolio model is developed and operationalized. The portfolio model is applied in a pilot investigation to analyze the market attractiveness and hospital strengths with regard to the provision of three orthopedic services: knee surgery, hip surgery, and arthroscopy. The pilot portfolio analysis is discussed to draw conclusions about potential barriers to the overall adoption of portfolio analysis in the management of a public hospital. Copyright (c) 2008 John Wiley & Sons, Ltd.

  6. Portfolio of qualifications: a tool for evaluating academic productivity at the Karolinska Institutet.

    Science.gov (United States)

    Dahllöf, G; Ekstrand, J; Nordenström, J

    1999-02-01

    A Portfolio of Qualifications for academic appointments at the Karolinska Institutet has been developed to define more clearly the competence and qualifications which are given high priority for academic appointments at the Karolinska Institutet. The major fields of application are for new appointments and promotions, providing guidelines for the individual for improving his/her proficiency, and as a basis for determining individual salary rates. Four portfolios have been developed, a pedagogical, a clinical, a scientific, and a leadership, development and workplace relations portfolio. Attached to the portfolios are assessment forms. We consider the Qualifications Portfolio to be a reflection of changes in attitudes and values at the Karolinska Institutet. The system offers a method for the recognition of faculty productivity in different dimensions. This may be beneficial for the university in view of the increasing diversity and complexity of academic institutions. The Qualifications portfolio can be obtained from the world wide web, http:/(/)www.ki.se/ki/merit.se.html (in Swedish), http:/(/)www.ki.se/ki/merit.html (in English).

  7. Develop Quality Characteristics Based Quality Evaluation Process for Ready to Use Software Products

    OpenAIRE

    Daiju Kato; Hiroshi Ishikawa

    2016-01-01

    The users who use ready to use software product had better get the products’ quality information with classified by some kind of global standard metrics or technique for their evaluation. But many of those software products’ co mpanies don’t provide the quality information because of the products are developed b y their own development and evaluation process. But those users want to get quality i...

  8. Portfolio optimization using Mean Absolute Deviation (MAD and Conditional Value-at-Risk (CVaR

    Directory of Open Access Journals (Sweden)

    Lucas Pelegrin da Silva

    Full Text Available Abstract This paper investigates the efficiency of traditional portfolio optimization models when the returns of financial assets are highly volatile, e.g., in financial crises periods. We also develop alternative optimization models that combine the mean absolute deviation (MAD and the conditional value at risk (CVaR, attempting to mitigate inefficient, low return and/or high-risk, portfolios. Three methodologies for estimating the probability of the asset’s historical returns are also compared. By using historical data on the Brazilian stock market between 2004 and 2013, we analyze the efficiency of the proposed approaches. Our results show that the traditional models provide portfolios with higher returns, but our propose model are able to generate lower risk portfolios, which might be more attractive in volatile markets. In addition, we find that models that do not use equiprobable scenarios produce better results in terms of return and risk.

  9. Mapping patent classifications: portfolio and statistical analysis, and the comparison of strengths and weaknesses.

    Science.gov (United States)

    Leydesdorff, Loet; Kogler, Dieter Franz; Yan, Bowen

    2017-01-01

    The Cooperative Patent Classifications (CPC) recently developed cooperatively by the European and US Patent Offices provide a new basis for mapping patents and portfolio analysis. CPC replaces International Patent Classifications (IPC) of the World Intellectual Property Organization. In this study, we update our routines previously based on IPC for CPC and use the occasion for rethinking various parameter choices. The new maps are significantly different from the previous ones, although this may not always be obvious on visual inspection. We provide nested maps online and a routine for generating portfolio overlays on the maps; a new tool is provided for "difference maps" between patent portfolios of organizations or firms. This is illustrated by comparing the portfolios of patents granted to two competing firms-Novartis and MSD-in 2016. Furthermore, the data is organized for the purpose of statistical analysis.

  10. Mean-variance portfolio analysis data for optimizing community-based photovoltaic investment

    Directory of Open Access Journals (Sweden)

    Mahmoud Shakouri

    2016-03-01

    Full Text Available The amount of electricity generated by Photovoltaic (PV systems is affected by factors such as shading, building orientation and roof slope. To increase electricity generation and reduce volatility in generation of PV systems, a portfolio of PV systems can be made which takes advantages of the potential synergy among neighboring buildings. This paper contains data supporting the research article entitled: PACPIM: new decision-support model of optimized portfolio analysis for community-based photovoltaic investment [1]. We present a set of data relating to physical properties of 24 houses in Oregon, USA, along with simulated hourly electricity data for the installed PV systems. The developed Matlab code to construct optimized portfolios is also provided in Supplementary materials. The application of these files can be generalized to variety of communities interested in investing on PV systems. Keywords: Community solar, Photovoltaic system, Portfolio theory, Energy optimization, Electricity volatility

  11. Portfolio evaluation of health programs: a reply to Sendi et al.

    Science.gov (United States)

    Bridges, John F P; Terris, Darcey D

    2004-05-01

    Sendi et al. (Soc. Sci. Med. 57 (2003) 2207) extend previous research on cost-effectiveness analysis to the evaluation of a portfolio of interventions with risky outcomes using a "second best" approach that can identify improvements in efficiency in the allocation of resources. This method, however, cannot be used to directly identify the optimal solution to the resource allocation problem. Theoretically, a stricter adherence to the foundations of portfolio theory would permit direct optimization in portfolio selection, however, when we include uncertainty in our analysis in addition to the traditional concept of risk (which is often mislabelled uncertainty) complexities are introduced that create significant hurdles in the development of practical applications of portfolio theory for health care policy decision making.

  12. Mean-variance model for portfolio optimization with background risk based on uncertainty theory

    Science.gov (United States)

    Zhai, Jia; Bai, Manying

    2018-04-01

    The aim of this paper is to develop a mean-variance model for portfolio optimization considering the background risk, liquidity and transaction cost based on uncertainty theory. In portfolio selection problem, returns of securities and assets liquidity are assumed as uncertain variables because of incidents or lacking of historical data, which are common in economic and social environment. We provide crisp forms of the model and a hybrid intelligent algorithm to solve it. Under a mean-variance framework, we analyze the portfolio frontier characteristic considering independently additive background risk. In addition, we discuss some effects of background risk and liquidity constraint on the portfolio selection. Finally, we demonstrate the proposed models by numerical simulations.

  13. 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.

  14. 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

  15. Faculty Professional Development for Quality Online Teaching

    Science.gov (United States)

    Alexiou-Ray, Jennifer; Bentley, Courtney C.

    2015-01-01

    Meaningful technology use in education continues to improve given an increase in access to available technologies and professional development. For educators, professional development has focused on approaches for technology use that foster content-specific best practices and improve student learning in traditional classroom formats. Meaningful…

  16. 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.

  17. 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.

  18. 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.

  19. 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.

  20. 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...