Modelling of risk factors for defence aircraft industry using interpretive structural modelling, interpretive ranking process and system dynamics

2019 ◽  
Vol 23 (3) ◽  
pp. 217-239
Author(s):  
Selladurai Pitchaimuthu ◽  
Jitesh J. Thakkar ◽  
P.R.C. Gopal
Keyword(s):  
Risk Factors ◽  
Risk Reduction ◽  
Reduction Process ◽  
Performance Measure ◽  
Survey Method ◽  
Extensive Literature ◽  
Aircraft Industry ◽  
Content Type ◽  
Interpretive Ranking Process ◽  
Risk Dimensions

Purpose Risk management in defence aircraft industry has considerable interest among academics and practitioners. The purpose of this paper is to develop interactions among risk factors dimensions (RFDs) and inspect the importance relationship among the performance measures in Indian aircraft industry and, finally, understand the effect of involvements provided by the managerial team on risk reduction process. Design/methodology/approach An extensive literature review was carried out to identify 26 risk parameters and 13 performance measure indices relevant for an aircraft industry. Survey method was used to obtain the importance of these parameters and measures. Further, these factors are grouped into five risk dimensions based on the brain storming session by the project managers. Initially, Risk factors for defense aircraft industry (RFDs) analyzed by Interpretative structural model (ISM) to know the contextual relationship among the RFDs and then applied Interpretive ranking process (IRP) to inspect the pre-eminence relationship among them. Finally, SD is applied to understand the effect of involvements provided by the managerial team on risk reduction process. Findings Government policy and legal RFDs has emerged as the key driving RFDs. In IRP modelling, technology RFD has emerged as more influential RFD which is the more relevant factor with respect to performance measure indices and this result is supported by detailed sensitivity analysis of system dynamic model. Originality/value The outcomes of this research can help project management team to identify the high severity risk factors which need immediate risk reduction/mitigation action.

Modelling critical risk factors for Indian construction project using interpretive ranking process (IRP) and system dynamics (SD)

2017 ◽  
Vol 34 (9) ◽  
pp. 1451-1473 ◽  
Author(s):  
Tanmay Nitin Mhatre ◽  
J.J. Thakkar ◽  
J. Maiti
Keyword(s):  
Risk Factors ◽  
Risk Factor ◽  
Literature Review ◽  
Construction Industry ◽  
Performance Measures ◽  
Construction Project ◽  
Performance Measure ◽  
Content Type ◽  
Interpretive Ranking Process ◽  
Risk Parameters

Purpose The purpose of this paper is to employ an integrated approach of interpretive ranking process (IRP) and system dynamics (SD) for modelling the key risk factors for a typical construction project. Design/methodology/approach The risk parameters and performance measures applicable in the construction industry have been identified through extensive literature review and discussions with experts from the construction industry. Based on the literature review, a questionnaire was designed and 64 responses were considered. The list of 20 risk parameters and 32 performance measures relevant for a construction industry is reduced to five risk factors and five performance measure factors using factor analysis. IRP modelling is employed to examine the contextual relationships among risk factors and to rank them with respect to performance measure factors. Subsequently, the results of IRP model were utilised as inputs to SD analysis. The SD analysis is conducted for two models, namely, risk factor model and risk variable model to understand the impact of interventions offered by project management team on risk reduction and mitigation. Findings The developed IRP model shows that the risk factor dimension “construction management” has a high likeliness to occur during the construction phase. Research limitations/implications The research demonstrates an application of proposed approach for a typical construction environment and hence the results cannot be generalised. Originality/value This research addresses real life complexities in construction project by modelling critical risk factors using an integrate approach of IRP and SD. The proposed approach would facilitate project managers to devise appropriate risk mitigation strategies for a construction project.

Operational performance measures for startups

2018 ◽  
Vol 22 (1) ◽  
pp. 31-41 ◽  
Author(s):  
Nopadol Rompho
Keyword(s):  
Performance Measures ◽  
Statistical Tests ◽  
Chief Executive ◽  
Performance Measure ◽  
Survey Method ◽  
Analysis Tool ◽  
Content Type ◽  
Perceived Importance ◽  
Large Corporations ◽  
And Performance

PurposeThe purpose of this study is to investigate the uses of performance measures in startup firms, including perceived importance and performance of those measures. Design/methodology/approachThe survey method is used in this study. Data are collected from founders/chief executive officers/managers of 110 startups in Thailand. The correlation analysis and analysis of variance techniques are used as the analysis tool in this study. FindingsThe results show that there is a positive relationship between the perceived importance and the performance of each metric. However, no significant differences are found in the importance and performance of each metric among the various stages of startups. Research limitations/implicationsBecause there are so few startups compared to large corporations, the sample size of this study is relatively small, which is a limitation for some statistical tests. Practical implicationsStartup should measure and monitor the correct metrics in a particular stage, instead of trying to perform well in all areas, which will lead them to lose focus, and possibly even fail. Results obtained from this study will aid startups in properly monitoring and managing their performance. Originality/valueUnlike large corporations, the performance measures used by startups vary, and depend on a startup’s stage and type. Because of the fact that there are much fewer startups than large corporations, there are a limited number of studies in this area. This research is among the first studies that try to investigate the uses of performance measure for this new type of organizations.

Supply risk identification in manufacturing supply networks

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marc Wiedenmann ◽  
Andreas Größler
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Manufacturing Industry ◽  
Expert Interviews ◽  
Manufacturing Companies ◽  
Supply Risk ◽  
Supply Networks ◽  
Content Type ◽  
Supply Risks ◽  
Risk Dimensions

PurposeManaging supply risk is gaining in importance in the tightly interconnected global economy. Identifying the relevant risks is the foundation of any risk management process. Therefore, the purpose of this paper first is to provide a short introduction to supply risk management, before focussing on the identification of such risks in more detail. A holistic framework of the identified supply risks, which distinguishes between risk dimensions and risk factors in manufacturing upstream supply networks, is proposed.Design/methodology/approachThis study applies a mixed methods research approach. Data are collected based on a structured literature review in combination with the analysis of company-specific documents and semi-structured expert interviews. Subsequently, a deductive content analysis is carried out to derive a holistic framework of supply risks, adapted to the manufacturing industry. For the external validation of the conceptual supply risk framework, additional experts from several manufacturing companies were consulted.FindingsBased on the definition and delimitation of supply risk, a categorization of supply risks is developed. The relevant literature, as well as expert interviews, lead to the distinction of six supply risk dimensions: quality, delivery, collaboration, economic, ambience and compliance. A total of 27 risk factors can be assigned to these dimensions. A holistic foundation for the management of supply risk is thus created.Originality/valueThis study provides a holistic framework of relevant supply risks in the context of the manufacturing industry. This overview of identified risks offers a novel perspective on risk in manufacturing supply networks that can be helpful in researching assessment and mitigation strategies. Despite the high relevance and popularity of this field of research, such an overview with a focus on manufacturing had not yet been made available in the literature. Building thereon, management approaches can now be developed to handle the risk arising from the upstream of the supply network.

Adjusting for risk factors in mutual fund performance and performance persistence

2019 ◽  
Vol 20 (4) ◽  
pp. 352-369 ◽  
Author(s):  
Drosos Koutsokostas ◽  
Spyros Papathanasiou ◽  
Dimitris Balios
Keyword(s):  
Risk Factors ◽  
Mutual Funds ◽  
Mutual Fund ◽  
Nonparametric Tests ◽  
Performance Measure ◽  
Performance Persistence ◽  
Momentum Effect ◽  
Content Type ◽  
Equity Mutual Funds ◽  
Fama And French

Purpose The purpose of this paper is to examine the performance of Greek equity mutual funds and the persistence in annual performance for the period 2008-2017 by using a variety of performance models. Design/methodology/approach Using all the available funds in operation and daily data, the authors apply single-index (Jensen, 1968) and multi-factor models (Fama and French, 1993; Carhart, 1997) to measure risk-adjusted returns. To assess performance persistence, a series of parametric (Bollen and Busse, 2005) and nonparametric tests (Malkiel, 1995; Brown and Goetzmann, 1995; Kahn and Rudd, 1995) is implemented. Findings Results show that the Greek equity mutual funds perform, on average, worse than the market index, irrespective of the performance measure applied, and the estimations obtained by the models are similar. Few managers that followed large-cap strategies, pursued stocks with high book-to-market value ratio and eliminated their exposure to the momentum effect were able to add value to their portfolios. Furthermore, a winner-picking strategy based on sustained superior performers is questioned. However, assigning fund returns to the corresponding risk factors results in the partial disappearance of persistence in performance. Originality/value The sample period includes the turbulent period, following the introduction of capital controls, which affected capital flows significantly. Moreover, the application of multiple performance measures enables us to investigate performance persistence in a wider spectrum.

Development and validation of core technology competencies for systems librarian

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Asif Naveed ◽  
Nadeem Siddique ◽  
Khalid Mahmood
Keyword(s):  
Information Science ◽  
Pearson Correlation ◽  
Research Area ◽  
Survey Method ◽  
Extensive Literature ◽  
Technology Competencies ◽  
Content Type ◽  
Job Experience ◽  
Technology Competency ◽  
Core Technology

Purpose This study aimed to develop and validate a list of core technology competencies for systems librarian in Pakistan. Design/methodology/approach Survey method was used to conduct this investigation. A structured questionnaire, consisting of 52 competency statements categorized into six core technology areas, was developed based on an extensive literature review, experts’ scrutiny and pilot testing. The administration of the survey questionnaire was done though online environments such as related listservs and Facebook pages. The received 62 responses were imported into statistical package for social sciences and analyzed by computing means, standard deviations, Pearson correlation and t-test. Findings The results indicated six core technology areas where competencies of systems librarians needed to be developed, namely, basic computing, programming and Web publishing, computer networks, cloud computing, database management systems and information systems. The respondents validated 50 statements with an average mean score more than three. Only two statements received mean scores less than three. The results also indicated higher consistency of these statements as the value of Cronbach’s alpha was 0.973. Research limitations/implications This research attempted to identify and validate core technology competencies needed for systems librarians in Pakistan. It neither attempted to determine the weightage each competency should have if it was to be included in curriculum nor it intended to identify a detailed content for each core technology competency. In Pakistan, System librarians develop their knowledge and skills with the specialized computer subject by studying on their own, attending training workshops and on job experience. It is therefore worth mentioning here that the knowledge of the needed competencies may be limited. Practical implications Library and information science schools need to consider these competencies in developing and designing information curriculum with regard to management of library systems. This set of competencies help academicians in designing need-based curricula and training programs for existing and prospect system librarians in Pakistan. Originality/value This study would be a worthwhile contribution to the literature on competencies of information professionals especially systems librarians as no such study appeared providing pragmatic, evidenced and field-based insights toward proposed research area.

Information seeking behaviour of Malaysian town planners

2017 ◽  
Vol 66 (4/5) ◽  
pp. 330-364
Author(s):  
Intan Afida ◽  
Shaharudin Idrus ◽  
Halimaton Saadiah Hashim
Keyword(s):  
Risk Reduction ◽  
Flood Risk ◽  
Information Seeking ◽  
Town Planning ◽  
Survey Method ◽  
Content Type ◽  
Flood Risks ◽  
Information Seeking Behaviour ◽  
Flood Risk Reduction ◽  
Site Planning

Purpose The purpose of this paper is to investigate the information-seeking behaviour of Malaysian Town Planners (MTPs) in fulfilling their specific work task, which is to prepare the Development Proposal Report (DPR) that incorporates flood risk reduction aspects for planning permission purposes. The researcher investigated MTPs’ involvement in the DPR preparation, types of information sought from five town planning reference instruments, the uses of five town planning reference instruments and additional information sources and the problem faced when seeking for and using of the information from five town planning reference instruments for the DPR preparation. Design/methodology/approach This study was based on quantitative research using the postal survey method. Data were collected from 60 MTPs using questionnaires, with a response rate of 81.7 per cent. Findings The study showed that limited professional knowledge is the main factor influencing information-seeking behaviour of MTPs in the DPR preparation. The study revealed that MTPs seek information which are mainly related to the incorporation of flood risk reduction aspects in site planning, detailed information on existing conditions for all planning sectors especially for planning sectors that influence flood risks, detailed information on how development controls that influence the risks of flooding should be considered and detailed information on site planning aspects that influence flood risks from five town planning reference instruments. The MTPs gave various answers for the seven factors influencing their choice of use for each town planning reference instruments. Familiarity and prior success and trustworthiness factors got the most absolutely very important answers; followed by the quality factor with the most important answers; the timeliness factor with the most moderately important answers; accessibility factor with the most somewhat important answers; the cost factor with the most not so important answers; and the packaging factor with the most not important at all answers. The MTPs used additional sources such as the local planning authority, other agencies, colleagues, internet, clients, books, journals, seminar or conference papers and magazines to get useful information for the DPR preparation besides the five town planning reference instruments. The study found that the top three problems encountered by the MTPs during their information seeking for and using of information were the related information on incorporation of flood risk reduction aspects in site planning in all five town planning reference instruments were not sufficient, not in detail and not complete. Research limitations/implications Only 60 MTPs, whose DPRs for lowland development areas with planning permission from the Selayang Municipal Council, Selangor, Malaysia, from the year 2012 to 2014 were chosen as samples in this study. Besides that, only site planning aspects in five town planning reference instruments were taken into account in this study. Practical implications This paper provides useful understanding of the information-seeking behaviour of MTPs in fulfilling one of their professional tasks, which is preparing the DPR that incorporates flood risk reduction aspects for planning permission purposes. Originality value Being the first study on information-seeking behaviour of MTPs, it contributes to the very limited research literature on the topic for this profession in the world generally and Malaysia specifically.

Risk ranking and analysis in PPP water supply infrastructure projects

Facilities ◽  
2015 ◽  
Vol 33 (7/8) ◽  
pp. 428-453 ◽  
Author(s):  
Ernest Effah Ameyaw ◽  
Albert P.C Chan
Keyword(s):  
Risk Factors ◽  
Risk Management ◽  
Water Supply ◽  
Management Practices ◽  
Demand Forecasting ◽  
Significant Risk ◽  
Mitigation Strategies ◽  
Extensive Literature ◽  
Water Projects ◽  
Content Type

Purpose – This paper aims to identify and evaluate the most significant risk factors that strongly affect the implementation of public–private partnership (PPP) water supply projects. PPP for water supply infrastructure services has seen continued growth over the past two decades, following public sector’s budgetary constraints and inability to provide infrastructure-based water services efficiently and cost effectively. However, these projects are often subjected to major risks leading to failures. Design/methodology/approach – Following extensive literature review and case study analyses, an international questionnaire survey was conducted with practicing and experienced PPP experts to establish the significant risks in PPP water projects. Both the probability of occurrence and severity of 40 risks were evaluated by the expert panel to determine their significance and impact on water projects procured under the PPP arrangement. Findings – The paper presents a derived risk factor list, ranks the factors and describes the “top-ranked” risk factors as: poor contract design, water pricing and tariff review uncertainty, political interference, public resistance to PPP, construction time and cost overrun, non-payment of bills, lack of PPP experience, financing risk, faulty demand forecasting, high operational costs and conflict between partners. Originality/value – This factor list broadens PPP stakeholders’ view of important project risks, rather than relying on culture-dependent studies – an area that has received less attention in PPP risk management research. The identified risk factors would provide governments and investors a useful tool in implementing constructive water PPPs by facilitating the development of risk mitigation strategies, particularly for developing countries with poor risk management practices.

A grey based approach for assessment of risk associated with facility location in global supply chain

2015 ◽  
Vol 5 (3) ◽  
pp. 419-436 ◽  
Author(s):  
Surya Prakash ◽  
Gunjan Soni ◽  
Ajay Pal Singh Rathore
Keyword(s):  
Risk Factors ◽  
Decision Making ◽  
Supply Chain ◽  
Facility Location ◽  
Global Supply Chain ◽  
Final Decision ◽  
Extensive Literature ◽  
Risk Minimization ◽  
Strategic Decisions ◽  
Content Type

Purpose – Facility location decisions are critical and should be taken after strategic evaluations. Globalization and integration of economies make such decisions further complex and risk prone. The purpose of this paper is to identify and assess the risk factors to be considered while taking new facility location decision associated with global supply chain and device the methodology. A grey-based multi-criteria decision-making (MCDM) approach is used for this purpose, which also takes in to account the uncertainty in decision making. Such approach enables final decision to be more real and practical. The paper also highlighted and discussed the criteria on the basis of which the management can select the best suitable site. Design/methodology/approach – The risk factors related to facility location for a global firm are identified. To select the location of a global facility with least risk, grey-based MCDM approach is formulated. This grey-based MCDM is demonstrated using the hypothetical case of an industrial valve manufacturing global firm. The grey approach is used to analyse location alternatives based on various decision criteria for extracting comparative ranking. Findings – The paper presents a tool for strategic and planning level. It helps supply chain managers to identify the risks related to a candidate location. Then it guides the supply chain manager at strategic level to find the least risky location for a manufacturing facility. Practical implications – This paper demonstrates the grey-based MCDM approach for determining less risky location to locate a new manufacturing unit so that practitioners can use this approach for taking other strategic decisions. The supply chain configuration can be decided subsequently which will yield more practical results and the decision taken will be more fruitful for firm. Originality/value – The extensive literature review reveals that there are many models in the literature that addressed the issue of risk minimization in supply chain, but it was also noticed that there are limited number of models that minimize risk in locating a global facility considering the uncertainty of data in decision making. This is the first time that grey-based MCDM approach is formulated and used to find most suitable facility location under risk.

scholarly journals Addressing the high burden of noncommunicable diseases in Nigeria: a commentary

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Miracle Ayomikun Adesina ◽  
Ruth Ifeoluwa Oladele ◽  
Isaac Iyinoluwa Olufadewa ◽  
Ogheneruona Favour Onothoja ◽  
Damilola Remilekun Oladipo ◽  
...  
Keyword(s):  
Risk Factors ◽  
Healthy Lifestyle ◽  
Healthcare Providers ◽  
Noncommunicable Diseases ◽  
Extensive Literature ◽  
Content Type ◽  
Chronic Respiratory Diseases ◽  
Literature Searches ◽  
Lifestyle Practices ◽  
The Government

PurposeThe purpose of this study describes how individuals; healthcare providers and the government can reduce the burden of noncommunicable diseases (NCDs) in Nigeria.Design/methodology/approachThis commentary paper combines extensive literature searches and experience from public health physicians.FindingsNoncommunicable diseases are chronic diseases. They result from a combination of genetic, physiological, environmental and behavioral factors. NCDs are divided into four classes: cardiovascular diseases, cancers, chronic respiratory diseases and diabetes.Practical implicationsNoncommunicable diseases are responsible for about a quarter of total deaths in Nigeria. These deaths are unnecessary as most NCDs can be prevented if the risk factors are dealt with. Dealing with these risk factors involves everyone (Individuals, government, interdisciplinary and multidisciplinary researchers, policymakers, government, etc.).Originality/valueMajor risk factors for NCDs are tobacco use, harmful use of alcohol, unhealthy diet and physical inactivity. The solution to NCDs, therefore, lies in dealing with these factors, which, fortunately, are modifiable since they have to do with lifestyle practices. There is evidence to support the claim that a reduction of the risks of NCDs can be achieved by engaging in healthy lifestyle practices.

Interpretive framework for analyzing lean implementation using ISM and IRP modeling

2018 ◽  
Vol 25 (9) ◽  
pp. 3406-3442 ◽  
Author(s):  
Anup Prabhakarrao Chaple ◽  
Balkrishna Eknath Narkhede ◽  
Milind M. Akarte ◽  
Rakesh Raut
Keyword(s):  
Performance Measures ◽  
Lean Manufacturing ◽  
Three Dimensional ◽  
Extensive Literature ◽  
Interpretive Structural Modeling ◽  
Lean Implementation ◽  
Content Type ◽  
Road Map ◽  
Interpretive Ranking Process ◽  
And Performance

Purpose Firms have been adopting lean manufacturing to improve their business performances. However, they are facing failures or less success in implementation, mainly due to lack of understanding in relating the lean practices (LPs) from the required performance measures perspective. In view of the lack of research and the importance of understanding them, the purpose of this paper is to prioritize LPs. Design/methodology/approach As LPs are scattered in the literature and a variety of performance measures are used, an extensive literature review is first carried out to identify the LPs and performance measures. The blend of interpretive structural modeling and interpretive ranking process interpretive tools is adopted in establishing the contextual relationship among LPs and then ranking them based on the performance measures. A three-dimensional priority matrix is proposed for better explanation of the results. Findings The proposed framework can help firms better understand LPs and their levels of importance in lean implementation. Research limitations/implications The involvement of lean experts may produce some bias in evaluating the LPs. Practical implications The proposed framework can help practitioners to develop an industry-specific road-map for the result-oriented LP implementation. Based on the area of performance to be improved, practitioners can prioritize LPs for implementation. Originality/value This is the first study that provides a comprehensive review of LPs available in the literature and prioritizes them in accordance with performance with interpretive tools.

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