scholarly journals Major Project Risk Management: Reconciling Complexity During Delivery with the Inside View in Planning

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Paul Chapman ◽  
Cuong Cuang
Keyword(s):  
Cognitive Biases ◽  
Theory And Practice ◽  
Project Delivery ◽  
Bayesian Modelling ◽  
Project Risk ◽  
Planning Phase ◽  
Inside View ◽  
Major Project ◽  
Case Based ◽  
Joint Treatment

Recent research on the origins of risk during the planning and delivery of major projects broadly addresses two root causes: (i) complexity at the planning phase and also during project delivery, and; (ii) ‘the inside view’ at the planning phase and the associated issues of strategic misrepresentation and cognitive biases such as optimism bias. This paper presents the results of a systematic review that finds a schism in the literature showing theoretical and empirical treatment of project delivery risk polarises into considering either the effect of complexity or the inside view; rarely are they considered jointly. This work discusses the implications for theory and practice and identifies Case Based Decision Theory and Bayesian modelling, both of which are outside view techniques, as having potential to reconcile complexity and the inside view and thus provide for their joint treatment.

scholarly journals Major Project Risk Management: Reconciling Complexity during Delivery with the Inside View in Planning

2021 ◽  
Author(s):  
Paul Chapman ◽  
Cuong Quang
Keyword(s):  
Cognitive Biases ◽  
Theory And Practice ◽  
Project Delivery ◽  
Bayesian Modelling ◽  
Project Risk ◽  
Planning Phase ◽  
Inside View ◽  
Major Project ◽  
Case Based ◽  
Joint Treatment

Recent research on the origins of risk during the planning and delivery of major projects broadly addresses two root causes: (i) complexity at the planning phase and also during project delivery, and; (ii) ‘the inside view’ at the planning phase and the associated issues of strategic misrepresentation and cognitive biases such as optimism bias. This paper presents the results of a systematic review that finds a schism in the literature showing theoretical and empirical treatment of project delivery risk polarises into considering either the effect of complexity or the inside view; rarely are they considered jointly. This work discusses the implications for theory and practice and identifies Case Based Decision Theory and Bayesian modelling, both of which are outside view techniques, as having potential to reconcile complexity and the inside view and thus provide for their joint treatment.

Notes on Competition and Justum Pretium Theory and Practice in Medieval Italy

2018 ◽  
Vol 63 (3) ◽  
pp. 330-349 ◽  
Author(s):  
Marco Claudio Corradi
Keyword(s):  
European Union ◽  
Cognitive Biases ◽  
Theory And Practice ◽  
Market Mechanisms ◽  
Medieval Italy ◽  
Goods And Services ◽  
Pricing Theory ◽  
Market Variables ◽  
The One ◽  
Capitalist Spirit

Medieval Italian Comuni are often considered as one of the cradles of the modern capitalist spirit. Comuni introduced economic legislation in an attempt to counteract restrictions to competition on the one hand and to control the price of certain goods and services on the other. Price control of basic commodities was often motivated by reasons of public order – such as preventing commoners’ riots. Despite some loose analogies with the modern European Union competition law approach to pricing – namely in the area of excessive pricing – the Italian medieval Comuni pricing theory and practice substantially differed from the modern European Union one. Medieval theory struggled in reconciling market mechanisms with costs analysis and missed the distinction between efficiency and distribution. Moreover, medieval Comuni market variables were substantially divergent from the modern European ones. Despite Comuni being the wealthiest areas in Europe in those days, their consumers had significantly lower buying power, they were affected by different cognitive biases than modern consumers and they were highly segmented from a gender perspective. Medieval producers, that is artisans, did not enjoy the degree of market power that characterizes modern oligopolists. Artisans produced goods for merchants who were the main promoters of trade and economic development. Merchants often succeeded in squeezing artisans’ profits, granting consumers lower prices for manufactured goods, at times also thanks to free trade policies pursued by Comuni administrations.

scholarly journals Theory And Practice In CEO Pay: A Course Module And Integrative Case Based On Boeing Inc.

2012 ◽  
Vol 5 (3) ◽  
pp. 245-260
Author(s):  
John F. Boschen ◽  
Kimberly J. Smith
Keyword(s):  
Corporate Governance ◽  
Ceo Compensation ◽  
Business Students ◽  
Theory And Practice ◽  
Financial Statement ◽  
Executive Pay ◽  
Capstone Course ◽  
Ceo Pay ◽  
Over Time ◽  
Case Based

Business students may dream of receiving pay packages like that of Michael Eisner at Disney. However, many of them will work for the compensation consultant who determines the economics of the pay arrangements, for the valuation consultant who values the different components of the pay arrangements, for the accountant who must audit the financial statement impacts of the pay arrangements, or as a manager in the company whose employees respond to the incentives provided by the pay arrangements. No matter their eventual role, it is critical that every student understands these various aspects of executive pay arrangements, and how these practices have evolved over time. The course module presented herein is designed to effectively integrate these perspectives in as few as five or as many as nine 80-minute sessions that could be a substantive component of an MBA or Master of Accounting capstone course, or a component of a corporate governance elective. A case based on the CEO compensation of Boeing Inc. over the last 60 years provides a series of assignments that effectively integrate the module.

scholarly journals Teaching Cognitive Biases in Clinical Decision Making: A Case-Based Discussion

MedEdPORTAL ◽  
2015 ◽  
Vol 11 (1) ◽  
Author(s):  
Keng Sheng Chew ◽  
Jeroen van Merrienboer ◽  
Steven Durning
Keyword(s):  
Decision Making ◽  
Clinical Decision Making ◽  
Cognitive Biases ◽  
Clinical Decision ◽  
Case Based

Taking risks to improve safety? Workplace learning in anesthesia

2019 ◽  
Vol 31 (8) ◽  
pp. 537-550
Author(s):  
Lucie Cuvelier
Keyword(s):  
Qualitative Study ◽  
Adverse Events ◽  
Workplace Learning ◽  
Design Methodology ◽  
Developmental Process ◽  
Continuous Development ◽  
Content Type ◽  
Planning Phase ◽  
Case Based ◽  
The Way

PurposePrevious results show that the anesthetists’ activity during the planning phase is aimed at neither identifying risks nor pinpointing the adverse events likely to occur; rather, it is to devise “manageable situations” that are adapted to their own competences. The present paper focuses on the issue of understanding how, in practice, these “manageable situations” are constructed. In particular it wonders if a link between the seniority of anesthetists and the way they design these “manageable situations” may be established.Design/methodology/approachThe paper sought to answer these questions through a qualitative study conducted in partnership with anesthetists. The method, combining interviews and case-based simulation, required that 20 anesthetists “thought aloud”.FindingsResults show that the anesthetists sometimes selected a solution that they themselves and experts viewed as riskier. Why? And who selects a riskier solution? The answer is about workplace learning and the continuous development of experience-based competences. “Manageable situations” appear to be planned situations so as to propose solutions adapted not only to present competences but also for future competences to be developed. In that sense, they are part of a developmental process at work.Originality/valueThese findings have implications for practice and they open pathways for further research studies. They call for rethinking the link between experience and workplace learning.

scholarly journals Implementing a new pedagogy in the nursing curriculum: Bachelor students’ evaluation

2017 ◽  
Vol 7 (12) ◽  
pp. 98
Author(s):  
Jan Gunnar Dale ◽  
Bjørg Dale
Keyword(s):  
Nursing Students ◽  
Real Life ◽  
Theory And Practice ◽  
Survey Study ◽  
Clinical Settings ◽  
Electronic Survey ◽  
Main Activity ◽  
Nursing Course ◽  
Study Plan ◽  
Case Based

Background: Inspired by the work of Benner and colleagues at Carnegie Foundation, a new course in nursing was implemented in the first study year’s curriculum in the bachelor program in nursing. The new nursing course included a shift from a lecture-only classroom based approach to a problem-based and case-based approach. Reflections and discussions in groups with fellow students and supervisors was the main activity. The aim of this study was to examine how the students experienced the new nursing course.Methods: The survey study was conducted at a university in southern Norwegian. The sample consisted of students in two subsequent classes (n = 126 and n = 118), who had followed the new study plan in the first study year and the traditional study plan in the second study year. An electronic survey, including questions concerning the extent, quality and usefulness of the study plans were examined.Results: The students were, in general, satisfied with the new nursing course regarding the content and quality. The teachers’ presence and ability to engage, challenge and facilitate reflection seemed to be decisive. Reflecting and discussing real-life patient cases in groups with fellow students and a supervisor was stimulating, motivating and useful for learning professional nursing.Conclusions: A problem based, case-based pedagogy might increase the students’ preparedness for solving patient problems that they encounter in clinical settings. Cooperation and reflection in small groups with fellow students and the supervisor enhance nursing students’ clinical reasoning skills, and might contribute to reduce the gap between theory and practice.

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