by K.-H. Rutsch*, P.J. Viljoen*, and H. Steyn* The need for systematic project portfolio selection

Size: px
Start display at page:

Download "by K.-H. Rutsch*, P.J. Viljoen*, and H. Steyn* The need for systematic project portfolio selection"

Transcription

1 An investigtion into the cuent pctice of poject potfolio selection in esech nd development division of the South Aficn minels nd enegy industy by K.-H. Rutsch*, P.J. Viljoen*, nd H. Steyn* J o u n l Synopsis Poject selection nd the development of potfolio of pojects in line with copote sttegy is n impotnt tsk of mnges of esech units. The pojects selected hve to meet the ppopite time fme fo completion nd delivey, suitble isk pofile nd othe distinct fctos in ode to pusue copote objectives successfully. The uthos believe tht R&D poject potfolio selection ppoches equied o pplied in the pocess industy diffe fom the ppoches used fo selecting new poduct development pojects, on which most litetue is focused. A cse study ppoch ws used to investigte the cuent pctice of poject potfolio selection in South Aficn R&D divisions within the minels nd enegy industy. It ws found tht ll compnies inteviewed duing this study employ semi-foml ppoch to select thei R&D poject potfolio. A foml pocess is followed fo decision mking, but no foml tools e pplied to select the R&D potfolios, such s suggested by litetue. Bckgound The need fo systemtic poject potfolio selection Compnies usully hve the oppotunity to choose fom numbe of diffeent poject poposls. Since finncil nd pesonnel esouces e often limited, mngement hs to decide which pojects to pusue nd which ones to teminte. Compnies seek to mintin thei position in thei mkets nd even to gin competitive dvntge though R&D. Accoding to Twiss1, poject selection nd poject temintion e the two most citicl nd difficult decision es in R&D mngement. The min diffeence between poject selection nd deciding whethe to continue o teminte poject lies in the qulity of infomtion vilble. Fo R&D poject selection, the infomtion will consist minly of eltively inccute estimtions of something tht needs to be eseched. This is consistent with the notion tht R&D is consideed to be n investment to educe uncetinty1. On the othe hnd, when poject is ledy undewy nd the decision to continue o to teminte the poject needs to be mde, some infomtion on the technicl fesibility nd commecil cceptnce is nomlly vilble. In mny compnies esech poject potfolios e not focused. This could esult in the execution of some pojects tht do not necessily futhe compny gols nd sttegy. Othe pojects, which might dd moe vlue e, theefoe, eithe not pusued o not enough esouces e mde vilble fo these pojects. This could led to pooly blnced poject potfolio tht is not well ligned to business sttegy. Fo compny to opete successfully in mket, it needs to offe the ight poducts t the ight time fo the ppopite pice nd with the expected qulity. To be ble to fulfil these citei, technology-bsed compnies need to hve thei R&D poject potfolios ligned to these citei s well s to thei compny sttegy. Although pojects lso need to be executed efficiently, it seems obvious tht eveything elly begins by choosing the ight pojects fist time in ode to sve vluble time nd esouces. The South Aficn minels nd enegy industy The pocess industy could be viewed s subset of the mnufctuing industy nd includes viety of industil sectos such s the mining nd minel industy, food nd bevege industy, pulp nd ppe industy, s well s the oil industy. Accoding to Lge2, the pocess industy could be defined s: A poduction industy using (w) mteils to mnufctue non-ssembled poducts in poduction pocess whee the (w) mteils e pocessed in poduction plnt whee diffeent unit opetions tke plce nd the diffeent pocesses e connected in continuous flow. * Deptment of Engineeing nd Technology Mngement, Univesity of Petoi. The Southen Aficn Institute of Mining nd Metllugy, SA ISSN X/ Ppe eceived, M. 2006; evised ppe eceived Aug P p e The Jounl of The Southen Aficn Institute of Mining nd Metllugy VOLUME 106 NON-REFEREED PAPER OCTOBER

2 An investigtion into the cuent pctice of poject potfolio selection in esech The minels industy, lgely suppoted by gold, dimond, col nd pltinum poduction, is n impotnt element of the economy of South Afic. The lgest eseves of pltinum goup metls, mngnese, chomium, vndium, gold nd luminium in the wold occu in South Afic3. Fo moe thn centuy the minels industy plyed n impotnt ole in the South Aficn economy. This industy ws mjo dive fo the development of n extensive nd cpble physicl infstuctue within South Afic nd hs contibuted to get extent towds the estblishment of secondy industies in the county. The South Aficn minels industy is ecognized woldwide s leding nd elible supplie of lge viety of minels nd minel poducts of consistently high qulity3. The expot-oientted South Aficn minels industy is deep-ooted nd esouceful segment of the ntionl economy nd hs high level of technicl expetise, s well s the cpbility of mobilizing cpitl fo new development. This lgest industy secto of the county, followed by mnufctuing, employed 6.7 pe cent of ll wokes in the non-gicultul foml sectos of the ntionl economy duing 2003 nd contibuted 7.1 pe cent towds the goss domestic poduct (GDP) of South Afic. At tht time, this ws equivlent to ZAR 78.5 billion o US$ 10.4 billion. Howeve, to be ble to get pictue of the impct of the minels industy on the South Aficn economy, one needs to conside the full mifictions. The bove-mentioned contibution towds the ntionl GDP does not include compnies tht specilize in minel pocessing, since these belong to the mnufctuing industy. Futhemoe, vst numbe of South Aficn compnies e supplying the minels industy with w mteils nd equipment, tnspottion sevices nd so foth. Thus, mny millions of people in South Afic ely on the minels industy s thei souce of income3. A numbe of mjo South Aficn mining compnies hve dopted ggessive explotion sttegies beyond the bodes of the county, which esulted in the intentionliztion of lge South Aficn mining compnies3. Resech poblem Since R&D poject potfolio selection is complex tsk, it is necessy fo compnies to follow systemtic pocess. Thee e only vey smll numbe of publictions deling with R&D poject potfolio selection in the pocess industy. These include the wok by Lge2 nd by Kvdis, Loch nd Tppe4. Othe litetue tht dels with pocess R&D sttegy5 8 sees this type of poject s supplement to optiml poduct development. This esech ws intended to povide some insight into how South Aficn compnies of the minels nd enegy industy del with this topic. Choosing the ight pojects helps compnies to become nd sty competitive, in ode to outpefom thei competitos. Oppotunities e lost if the wong pojects e chosen nd esouces e not concentted on wht the compny needs to seve its mkets in the best possible wy, with the most ppopite poduct of the best possible qulity. If sttegiclly less impotnt pojects e not excluded ely enough fom the poject pipeline, mngement nd esouce lloction of the R&D poject potfolio become moe complex thn is necessy. Futhemoe, it pevents impotnt pojects fom being executed with the highest possible efficiency. It is believed tht this would esult in loss of focus nd theefoe potentil shotcomings in the mketplce9. Two mnges inteviewed noted tht the selection of the ight R&D pojects mounts to pobbly 50% of the wok tht needs to be conducted. Accoding to Stmboulis, Admides nd Mlkis8, pocess development is egded s simply being stge in poduct development in most of the litetue on R&D potfolio mngement. Hence, this study exmined the R&D poject potfolio selection pctised t compnies in the pocess industy, whose R&D is mostly diven to cete nd impove pocesses. The diffeences in the pticul popeties of pocess R&D comped to poduct development pobbly led to the use of diffeent ppoches in R&D poject potfolio selection. Duing the litetue study it becme evident tht the tools suggested fo use in R&D poject potfolio selection do not tke scce esouces into ccount othe thn money nd time to completion o implementtion. Pesonnel esouces e cucil fcto to be consideed in deciding on the R&D poject potfolio, since they e vey common bottleneck. The cpbility of esech stff is cucil fcto tht detemines wht type of esech could be conducted. Fo exmple, without extensive tining in chemisty, peson highly qulified in electicl engineeing might stuggle to do esech imed t developing chemicl substnces with new popeties. Due to this, humn esouces often detemine the dution of R&D pojects. Futhemoe, the stff cquisition pocess, especilly in the highly qulified esech field, is vey time consuming s well s costly10. The esech objectives nd esech questions The esech ws imed t getting epesenttive oveview of common pctice of R&D poject potfolio mngement conducted in the South Aficn minels nd enegy industy. It ims t poviding point of deptue fo South Aficn compnies in the pocess industy to develop nd/o impove thei decision mking concening R&D poject potfolios. The following esech questions wee ddessed in ode to ccomplish the bove-mentioned objectives: Question 1 Wht methods e used fo R&D potfolio selection in South Aficn compnies within the minels nd enegy industy? Question 2 Why e the pticul methods used? Question 3 Is systemtic ppoch used to tke the vilbility of pesonnel esouces into ccount in R&D potfolio selection? Litetue on poject selection In el life R&D envionment, esouces e scce. Selection methods should be esy to undestnd nd to use. Moeove the use of methods fo poject selection should be tnspent to business stkeholdes. Exmples of popul methods fo R&D poject potfolio selection could be divided into diffeent ctegoies, e.g. (1) tditionl finncil nlysis, (2) decision tees s simple method to del with uncetinty in R&D, (3) potfolio nlysis nd (4) simplified models fo options vlution. 666 OCTOBER 2006 VOLUME 106 NON-REFEREED PAPER The Jounl of The Southen Aficn Institute of Mining nd Metllugy

3 An investigtion into the cuent pctice of poject potfolio selection in esech The tditionl ppoch to cpitl budgeting encompsses thee steps, nmely (1) estimting the elevnt csh flows of plnned poject o investment, (2) the ppliction of n ppopite decision technique to these csh flows nd (3) ecognizing nd djusting the decision technique fo isk11. The most common tditionl decision techniques e the net pesent vlue (NPV) nd the intenl te of etun (IRR) technique11,12. As R&D genelly involves high levels of uncetinty, litetue suggests the use of stochstic models fo poject vlution s well s poject potfolio selection. R&D mnges fce uncetinty not only in pyoffs, but lso fom mny othe souces. Huchzemeie nd Loch13 pesent models to del with five types of R&D uncetinty: in mket pyoffs, poject budgets, poduct pefomnce, mket equiements, nd poject schedules. Howeve, the uthos do not peceive thei model to be esy to use in pctice. Decision tees14,15 pesent vey simple nd pcticl wy to incopote stochstic considetions into poject vlution. As with the net pesent vlue methodology, the citeion fo decision mking is to select pojects tht hve the highest vlues. which e equied to be gete thn zeo. A vey impotnt dvntge of decision tees, especilly when comped with the NPV, is the elistic ecognition of the isk pofile of poject. Decision tees e esy to use, to undestnd nd hence to implement. They lso conside ll possible options duing the poject. In decision tee, the option to chnge o bndon poject could be implemented, which mkes it possible to chieve poject vlution, depending on the specific cse, tht is close to the vlue deived by the el options method15. Potfolio mps, lso clled potfolio mtices, e twodimensionl mtices, depicting the poject potfolio of compny o deptment within compny. The position of poject within the mtix suggests the pusuit of cetin, stnddized, sttegy. One dimension of the potfolio mtix consides intenl citei, i.e. vibles tht could be influenced diectly by the compny though ction. The othe dimension of the mtix is n extenl vible, on which the compny hs no influence16. Coope, Edgett nd Kleinschmidt9 suggest simil type of potfolio mp, simply clled bubble digm. In this ppoch, it is not necessy tht the xes on the mtix expess intenl nd extenl dimensions within one digm. An exmple of bubble digm is povided lte on in this ppe. A moden view of vlution consides el options, the thn finncil options, which e oppotunities tht e embedded in pojects. An option involves the ight to buy something; but it does not include the obligtion to execise it17. This enbles mnges to lte thei csh flows nd isk in wy tht often esults in poject cceptbility tht is diffeent fom tht mesued by the use of NPV. Rel options e likely to exist in lge cpitl budgeting pojects11. By explicitly ecognizing the vlue of embedded options, mnges cn mke impoved, moe sttegic decisions tht conside the economic impct of cetin contingent ctions on poject csh flow nd isk in dvnce. The explicit ecognition of el options embedded in cpitl budgeting pojects will cuse the sttegic NPV of poject to diffe fom its tditionl NPV. The sttegic NPV is defined s the sum of the tditionl NPV plus the vlue of el options11. Options theoy ws developed by Blck nd Scholes nd published in They wee wded the Nobel Pize fo thei wok. Luehmn18 sttes tht dvice on using el options fo poject vlution in pctice is e nd minly intended fo highly qulified specilists in this field. As esult, it would be vey expensive nd complicted fo compnies to pply el options vlution on el life pojects. He pesents fmewok to bidge the gp between the pcticlities of el wold cpitl pojects nd the highe mthemtics ssocited with foml option picing theoy. His fmewok leds to quntittive esults, cn be used on diffeent pojects, nd uses s min souce of infomtion, the dt tht is ledy collected within spedsheets tht e used fo discounted csh flow clcultions. Nevetheless, this fmewok povides ese of use but t the expense of pecision. Luehmn18 suggests tht if vey pecise vlutions e essentil, it is necessy to consult expets in the field of el options. Howeve, the fmewok is pecise enough fo the vlution of mny pojects nd considebly bette thn tditionl isk-djusted nlysis bsed on discounted csh flows18. Resech methodology Fo this study, theoy-bsed empiicl esech ppoch hs been followed. A qulittive esech design using the multiple cse study sttegy s suggested by Yin19 ws used. Yin sttes, tht: cse studies e the pefeed sttegy when how o why questions e being posed, when the investigto hs little contol ove events, nd when the focus is on contempoy phenomenon within some el-life context. Leedy nd Omod20 mention tht cse study is: type of qulittive esech in which in-depth dt e gtheed eltive to single individul, pogm, o event, fo the pupose of lening moe bout n unknown o pooly undestood sitution. Leedy nd Omod20 lso expess tht cse study is the ppopite method fo investigtion if the unit of nlysis of the esech hs unique o exceptionl qulities. The cse study is likely to pomote undestnding o to infom pctice fo simil situtions. This esech poject, investigting common pctice of R&D poject potfolio selection in the pocess industy, pesents such n exceptionl cse. Thus, the cse study is the ppopite esech sttegy. The study pesented hee constitutes piece of explotoy nd desciptive esech. Eight R&D divisions within the minels nd enegy industy exist in South Afic. Inteviews with R&D mnges of thee South Aficn compnies of the minels nd enegy industy s well s one compny of the pulp nd ppe pocessing industy wee conducted to gthe the necessy dt. It is ssumed tht R&D poject potfolio mngement pinciples pplied in these two industies do not diffe. Intenl compny documenttion seved s souce fo dditionl infomtion to gin complete pictue of how the potfolio selection ws executed t the compnies. To guide the inteviews, questionnie ws designed s pt of the cse study potocol. The questions wee deived systemticlly by nlysing the diffeent spects of R&D poject potfolio selection elting to the esech questions nd popositions. The dt obtined ws nlysed though clssifiction techniques nd though content nlysis. To ensue equivlence mong the diffeent discussions J o u n l P p e The Jounl of The Southen Aficn Institute of Mining nd Metllugy VOLUME 106 NON-REFEREED PAPER OCTOBER

4 An investigtion into the cuent pctice of poject potfolio selection in esech undetken, the eseche conducted the inteviews pesonlly. The inteviews commenced with bod discussion of the business. Inteviewees geed to the use of voice ecode duing the inteviews nd bief notes wee tken s well. A list of open-ended questions ws used to guide the inteviews to ensue tht ll spects of the esech questions wee coveed duing the discussions. Whee pplicble, dt collected duing inteviews wee suppoted by infomtion published on compny websites nd in compny documents. These documents include, fo exmple, pocess digms nd documents depicting o listing the R&D poject potfolio of the compny. The compiled summy of the inteview esults ws sent to the inteviewees with the equest to confim coectness of the document witten by the eseche. Infomtion collected ws stoed fo eview by extenl pties. To incese the vlidity nd elibility of dt collected in cse study esech, Yin19 ecommends ppliction of thee qulity-contol pinciples, nmely (1) the use of multiple souces of evidence, (2) the cetion of cse study dtbse, nd (3) mintining chin of evidence. These thee pinciples wee pplied thoughout the esech. Yin19 suggests consulttion on numbe of diffeent ctegoies s souces of evidence fo dt collection in cse studies. Howeve, s ccess to intenl dt nd communiction within South Aficn R&D compnies ws limited, this study did not mke extensive use of intenl ecods nd stictly confidentil mteil. Rthe, dt collection ws bsed mostly on discussions with senio mnges of ogniztions, intenl documents compiled fo meetings, nd publicly vilble mteil. Dt collection nd nlysis The R&D poject potfolio selection ppoches used t fou diffeent compnies, wee exmined. A cle ptten ws found mong the compnies inteviewed; ll compnies employ semi-foml ppoch to select thei R&D poject potfolio. A foml pocess is followed fo decision mking, but no foml tools e pplied to fcilitte the potfolio selection. Infomtion, such s pobbilities of technicl nd commecil success, blnce of diffeent vibles, s well s infomtion on finncil meits, is gtheed on the diffeent poject poposls. This seves s n infomtion bseline when potfolio decisions e mde bsed on mngement judgement nd input fom vious poject stkeholdes. NPV o IRR might seve to quntify finncil infomtion nd e the only foml tools used duing the potfolio selection phse. Howeve, NPV nd IRR wee not used to nk pojects; they meely seved s filte. A wide nge of citei ws consideed in decision mking t the compnies inteviewed. These included: Blnce between business units seved Risk pofile of potfolio R&D/technicl isk Mket cceptnce/stkeholde endosement nd esulting likelihood of commeciliztion Vlue dd/npv/irr Avilble budget R&D cost Time fme fo R&D Pybck peiod Synegy effects between pojects Pesonnel esouces/cpbilities Socil, politicl nd envionmentl issues Job cetion/welth cetion Sttegic lignment Sttegic levege Intellectul popety issues. As foml tools, bubble digms e used t two out of the fou compnies inteviewed nd will be intoduced t nothe compny in the ne futue. Thus, this tool cn be seen s being consideed useful. A typicl exmple fo bubble digm is shown in Figue 1. Futhemoe, one compny out of the fou investigted, mkes use of the Wheelwight mtix. An exmple of such mtix is shown in Figue 2. Howeve, these tools e not used to fcilitte the potfolio selection s suggested by litetue. Rthe, they e employed to double-check whethe potfolio, ledy decided upon, is ligned with compny sttegy nd tht it consides the pticul blnce tht is being sought by top mngement. The compny tht plns to implement bubble digms, plns to use them s tool fo potfolio selection, s suggested in the litetue. The othe two compnies ledy using the tool employ bubble digms only to double-check the poposed R&D potfolio. All foml tools nd fequency of use e summized in Tble I. Results nd conclusions Most inteviewees expessed tht R&D poject potfolio mngement foms vey impotnt pt of the wok of esech ogniztion. The esech questions could be nsweed s follows: Technicl isk Technology tnsfe isk Figue 1 Exmple of bubble digm 668 OCTOBER 2006 VOLUME 106 NON-REFEREED PAPER The Jounl of The Southen Aficn Institute of Mining nd Metllugy

5 An investigtion into the cuent pctice of poject potfolio selection in esech Next poduct New coe pocess Next-genetion pocess Single business upgde Tuning nd incemenetl Bekthough J o u n l Poduct chnges Next-genetion poduct Addition to poduct fmily Pltfoms Deivtives P p e Add-ons / enhncements Sustining Figue 2. Exmple ofwheelwight mtix Tble I Summy of methods used Compny No. 1 No.2 No. 3 No. 4 Method used (Minel nd enegy) (Minel nd enegy) (Minel nd enegy) (Pulp nd ppe) IRR No Yes Yes No 2 NPV No Yes No No 1 Bubble digm No Yes Yes No 2 Wheelwight mtix No No Yes No 1 Question 1 Wht methods e used fo R&D potfolio selection in South Aficn compnies within the minels nd enegy industy? No foml methods wee used to decide upon the R&D poject potfolio. Rthe, only the pocesses to mke the decisions wee foml. Once poject ides hve been geneted, futhe infomtion is sought. Bsed on this infomtion, senio stff nd mngement jointly mke the potfolio decisions, bsed on judgement nd expeience. At two of the fou compnies, bubble digms e dwn up to eview the poposed decisions in ode to mke dpttions, should the ovell potfolio not be blnced o not ligned to copote sttegy. Compny No. 4 (see Tble I) plns to implement the bubble digm method in the ne futue nd will use it s diect method fo designing the R&D poject potfolio. One out of the two compnies tht employ bubble digms ledy uses the Wheelwight mtix s futhe tool to ensue sttegic lignment nd blnce of the R&D potfolio. One compny out of the fou does not use ny foml tool t ll. Question 2 Why e the pticul methods used? All compnies explined tht they do not use ny foml method fo decision mking bout the R&D poject potfolio due to the complexity of thei business nd the high uncetinty involved. Accoding to the people inteviewed, foml methods cnnot del ppopitely with the vgueness tht exists duing the vey ely esech phses. Thus expet expeience nd mngeil judgement e used to pick the ight pojects. Mnges lso mentioned tht n ppoch tht uses intuition to select the R&D poject potfolio, suppoted by infomtion bout diffeent citei, is well suited to the compny since this ppoch is not too foml. This leds to the ssumption in the compnies inteviewed tht foml methods e not effective. The Jounl of The Southen Aficn Institute of Mining nd Metllugy VOLUME 106 NON-REFEREED PAPER OCTOBER

6 An investigtion into the cuent pctice of poject potfolio selection in esech Question 3 Is systemtic ppoch used to tke the vilbility of pesonnel esouces into ccount in R&D potfolio selection? It ws found tht in ll compnies investigted, humn esouces wee tken into ccount when R&D pojects wee chosen to be pusued. Howeve, this is not done in systemtic o foml fshion. Rthe, befoe the finl R&D poject potfolio decision is mde, it is double-checked whethe the potfolio could be executed with the stff vilble, o whethe coective mesues would need to be tken. The study uncoveed tht the compnies exmined did not develop completely new tools o models to decide on the R&D poject potfolio o to eview it. Fo eview puposes, the bubble digms found ppliction without ny specific dpttion to cicumstnces within the pocess industy. One compny used the Wheelwight mtix to confim blnce of the R&D potfolio. In line with the findings of the cuent study bout esech question 2, compnies in the pocess industy might employ simple nd pcticl model to fomlize poject potfolio selection. Sttegic lignment nd blnce of poposed poject potfolio wee found to be the most impotnt fctos tht needed to be tken into considetion t the compnies inteviewed. As it is difficult to gthe exct infomtion on poject fesibility nd the finncil vlue, model tht suggests the choice of poposed R&D pojects bsed on sttegic lignment nd blnce is equied. Potfolio mps, customized fo specific compny needs, seem to be ppopite. Potfolio mps equie qulittive infomtion. The xes of such mtices, s well s dimetes nd colous ssigned to pojects, could epesent the dimensions cucil to mke potfolio decisions to futhe compny sttegy. To fomlize the pocess of R&D poject potfolio selection, potfolio mps should be used to pick pojects the thn to check the blnce of n ledy suggested potfolio decision. The ting of diffeent R&D pojects on qulittive scle is to be estblished in meetings involving diffeent poject stkeholdes. In ode to bing suggested poject potfolio in line with pesonnel esouces, stff lloction might be given pioity to pojects being the most impotnt s identified within the potfolio mp. Poposed futhe esech In futhe esech, it could be of inteest to conduct cse studies of simil South Aficn compnies within diffeent industy, s well s foeign compnies within the minels nd enegy industy. This would mke it possible to estblish whethe the fct tht the compnies did not use ny foml ppoches to mke R&D poject potfolio decisions, s suggested in the litetue, esults fom the type of industy in which they opete, o whethe it esults fom specific geogphicl o cultul envionment. Refeences 1. TWISS, B. Mnging Technologicl Innovtion, 3d edition, London, Longmn Goup Ltd., LAGER, T. A stuctul nlysis of pocess development in Pocess Industy - A new clssifiction system fo sttegic poject selection nd potfolio blncing, R&D Mngement, Oxfod, United Kingdom, Blckwell Publishes Ltd., no. 32, 3. Deptment: Minels nd Enegy, Republic of South Afic, South Afic s Minel Industy 2001/2002, Mineli Cente, 234 Visgie Steet, Petoi, South Afic, KAVADIAS, S., LOCH, C.H., nd TAPPER, U.A.S. Using Mginl Retuns to Allocte the R&D Budget t GemStone, Ppe submitted to Mnufctuing nd Sevice Opetions Mngement, New Yok, USA, UTTERBACK, J.M. Msteing the Dynmics of Innovtion How Compnies Cn Seize Oppotunities in the Fce of Technologicl Chnge, Boston, Msschusetts, USA, Hvd Business School Pess, PISANO, G.P. The Development Fctoy Unlocking the Potentil of Pocess Innovtion, Boston, Msschusetts, USA, Hvd Business School Pess, ADLER, P.S. et l. Fom Poject to Pocess Mngement: An Empiiclly- Bsed Fmewok fo Anlysing Poduct Development Time, Mngement Science, Mch vol. 41, no STAMBOULIS, Y. ADAMIDES, E., nd MALAKIS, T. A System-Dynmics Study of Resouce-Bsed Appoch to Pocess Development Sttegy, Poceedings of the 2002 IEEE Intentionl Engineeing Mngement Confeence, Mnging Technology fo the New Economy. Cmbidge, United Kingdom. St John s College, August 2002, vol COOPER, R.G., EDGETT, S.J., nd KLEINSCHMIDT, E.J. Potfolio mngement fo new poducts, 2nd edition, Cmbidge, United Kingdom, Peseus Publishing, GROBLER, P.A. et l. Humn Resouces Mngement in South Afic, Thomson Publishes, GITMAN, L.J. Pinciples of Mngeil Finnce, 10th edition, Boston, USA, Addison Wesley Publishes, SCHIERENBECK, H. Gundzüge de Betiebswitschftslehe, 14th edition, Munich, Gemny, Oldenboug Velg, HUCHZERMEIER, A. nd LOCH, C.H. Poject Mngement Unde Risk: Using the Rel Options Appoch to Evlute Flexibility in R&D, Mngement Science. Jnuy vol. 47, no CLEMEN, R. nd REILLY, T. Mking Hd Decisions with Decision Tools, Duxbuy FAULKNER, W.F. Applying Options Thinking To R&D Vlution, Resech Technology Mngement, My June 1996, Pts 1 nd GOCHERMANN, J. Kundenoientiete Poduktentwicklung, Mketingwissen fue Ingenieue und Entwickle, Weinheim, Gemny, Wiley-VCH Velg, HOMMEL, U., SCHOLICH, M., nd VOLLRATH, R. Reloptionen in de Untenehmenspxis Wet schffen duch Flexibilität, Gemny, Spinge Velg, LUEHRMAN, T.A. Investment Oppotunities s Rel Options: Getting Stted on the Numbes, Hvd Business Review, July August YIN, R.K. Cse Study Resech: Design nd Methods, 2nd edition, Sge Publictions, Thousnd Oks, LEEDY, P.D. nd ORMROD, J.E. Pcticl Resech Plnning nd Design, 7th Edition, New Jesey, USA, Meill, OCTOBER 2006 VOLUME 106 NON-REFEREED PAPER The Jounl of The Southen Aficn Institute of Mining nd Metllugy

GFI MilAchive 6 vs H&S Exchnge@PAM GFI Softwe www.gfi.com GFI MilAchive 6 vs H&S Exchnge@PAM GFI MilAchive 6 H&S Exchnge@PAM Who we e Genel fetues Suppots Micosoft Exchnge 2000, 2003 & 2007 Suppots distibuted

More information

Highest Pefomnce Lowest Pice PRODUCT COMPARISON GFI MilAchive vs Symntec Entepise Vult GFI Softwe www.gfi.com GFI MilAchive vs Symntec Entepise Vult GFI MilAchive 6 Symntec Entepise Vult Who we e Genel

More information

GFI EventsMnge vs Netikus.net EventSenty GFI Softwe www.gfi.com GFI EventsMnge vs Netikus.net EventSenty GFI EventsMnge EventSenty Who we e Suppot fo MS SQL Seve Suppot fo MSDE / MS SQL Expess Suppot fo

More information

GFI MilEssentils & GFI MilSecuity vs Tend Mico ScnMil Suite fo Micosoft Exchnge GFI Softwe www.gfi.com GFI MilEssentils & GFI MilSecuity vs Tend Mico ScnMil Suite fo Micosoft Exchnge Exchnge Seve 2000/2003

More information

GFI MilEssentils & GFI MilSecuity vs Bcud Spm Fiewll GFI Softwe www.gfi.com GFIMilEssentils & GFI MilSecuity vs Bcud Spm Fiewll GFI MilEssentils 12 & GFI MilSecuity 10 Bcud Spm Fiewll Who we e Integtes

More information

GFI MilAchive 6 vs Wtefod Technologies MilMete Achive GFI Softwe www.gfi.com GFI MilAchive 6 vs Wtefod Technologies MilMete Achive Genel fetues Suppots Micosoft Exchnge 2000, 2003 & 2007 Suppots distibuted

More information

GFI MilAchive 6 vs EMC EmilXtende Achive Edition GFI Softwe www.gfi.com GFI MilAchive 6 vs EMC EmilXtende Achive Edition GFI MilAchive 6 EMC EmilXtende Achive Edition Who we e Genel fetues Suppots Micosoft

More information

GFI MilEssentils & GFI MilSecuity vs Symntec Bightmil 6 & Anti Vius GFI Softwe www.gfi.com GFI MilEssentils & GFI MilSecuity vs Symntec Bightmil 6 & Anti Vius GFI MilEssentils & GFI MilSecuity Bightmil

More information

Screentrade Car Insurance Policy Summary

Screentrade Car Insurance Policy Summary Sceentde C Insunce Policy Summy This is summy of the policy nd does not contin the full tems nd conditions of the cove, which cn be found in the policy booklet nd schedule. It is impotnt tht you ed the

More information

Orbits and Kepler s Laws

Orbits and Kepler s Laws Obits nd Keple s Lws This web pge intoduces some of the bsic ides of obitl dynmics. It stts by descibing the bsic foce due to gvity, then consides the ntue nd shpe of obits. The next section consides how

More information

N V V L. R a L I. Transformer Equation Notes

N V V L. R a L I. Transformer Equation Notes Tnsfome Eqution otes This file conts moe etile eivtion of the tnsfome equtions thn the notes o the expeiment 3 wite-up. t will help you to unestn wht ssumptions wee neee while eivg the iel tnsfome equtions

More information

Titanium: the innovators metal Historical case studies tracing titanium process and product innovation

Titanium: the innovators metal Historical case studies tracing titanium process and product innovation Titnium: the innovtos metl Histoicl cse studies tcing titnium pocess nd poduct innovtion by S.J. Oosthuizen* J o u n l Synopsis This ppe exmines innovtion in eltion to the vilbility of new mteil: the metl

More information

tools for Web data extraction

tools for Web data extraction HTML-we tools fo Web dt extction Thesis pesenttion 1 Student: Xvie Azg Supeviso: Andes Tho Tble of contents Intoduction Dt Extction Pocess Dt Extction Tools Relized tests Futue Wok 2 Intoduction We e going

More information

A Simple Method for Generating Rational Triangles

A Simple Method for Generating Rational Triangles A Simple Method fo Geneting Rtionl Tingles Konstntine Zelto Deptment Of Mthemtics College Of Ats And Sciences Mil Stop 94 Univesity Of Toledo Toledo,OH 43606-3390 U.S.A. Intoduction The pupose of this

More information

(1) continuity equation: 0. momentum equation: u v g (2) u x. 1 a

(1) continuity equation: 0. momentum equation: u v g (2) u x. 1 a Comment on The effect of vible viscosity on mied convection het tnsfe long veticl moving sufce by M. Ali [Intentionl Jounl of Theml Sciences, 006, Vol. 45, pp. 60-69] Asteios Pntoktos Associte Pofesso

More information

Housing as a Commodity

Housing as a Commodity Housing Issues nd Policy, Ubn Studies Pogmme, CUHK URSP300 Housing s Commodity by D Edwd CY Yiu Associte Pofesso Dept of Geogphy nd Resouce Mngement, Chinese Univesity of Hong Kong Expected Outcomes Wht

More information

SECTION 5-4 Trigonometric Functions

SECTION 5-4 Trigonometric Functions Tigonometic Functions 78. Engineeing. In Polem 77, though wht ngle in dins will the ck wheel tun if the font wheel tuns though dins? The c length on cicle is esy to compute if the coesponding centl ngle

More information

Circles and Tangents with Geometry Expressions

Circles and Tangents with Geometry Expressions icles nd Tngents with eomety xpessions IRLS N TNNTS WITH OMTRY XPRSSIONS... INTROUTION... 2 icle common tngents... 3 xmple : Loction of intesection of common tngents... 4 xmple 2: yclic Tpezium defined

More information

Summary: Vectors. This theorem is used to find any points (or position vectors) on a given line (direction vector). Two ways RT can be applied:

Summary: Vectors. This theorem is used to find any points (or position vectors) on a given line (direction vector). Two ways RT can be applied: Summ: Vectos ) Rtio Theoem (RT) This theoem is used to find n points (o position vectos) on given line (diection vecto). Two ws RT cn e pplied: Cse : If the point lies BETWEEN two known position vectos

More information

for Student Service Members and Veterans in Indiana

for Student Service Members and Veterans in Indiana Apil 2009 The Highe Eduction Lndscpe fo Student Sevice Membes nd Vetens in Indin Mtin Stenbeg, Shelley McDemid Wdswoth, Jo Vughn, nd Ryn Clson Mility Fmily Resech Institute t Pudue Univesity Suppot Len

More information

Innovative concepts in underground materials handling

Innovative concepts in underground materials handling Innovtive concepts in undegound mteils hndling by M. Fuchs* J o u n l Synopsis Thee is still dive woldwide to impove on existing methods of mining. The demnd is fo mining volumes to be incesed while the

More information

Random Variables and Distribution Functions

Random Variables and Distribution Functions Topic 7 Rndom Vibles nd Distibution Functions 7.1 Intoduction Fom the univese of possible infomtion, we sk question. To ddess this question, we might collect quntittive dt nd ognize it, fo emple, using

More information

The strategic and tactical value of a 3D geotechnical model for mining optimization, Anglo Platinum, Sandsloot open pit

The strategic and tactical value of a 3D geotechnical model for mining optimization, Anglo Platinum, Sandsloot open pit The sttegic nd tcticl vlue of 3D geotechnicl model fo mining optimiztion, Anglo Pltinum, Sndsloot open pit by A. Bye* J o u n l Synopsis Sndsloot open pit is situted on the nothen limb of the Bushveld

More information

Characteristics of an effective selfdirected work team in the gold-mining industry

Characteristics of an effective selfdirected work team in the gold-mining industry Chcteistics of n effective selfdiected wok tem in the gold-mining industy by A. Nel* nd J. Pien* J o u n l Synopsis The gold mining industy in South Afic stnds to benefit much fom the implementtion of

More information

Marketing Logistics: Opportunities and Limitations

Marketing Logistics: Opportunities and Limitations Mketig Logistics: Oppotuities d Limittios Pethip Vdhsidhu 1, Ugul Lpted 2 1 Gdute School, MBA i Itetiol Busiess, The Uivesity of the Thi Chmbe of Commece Vibhvdee-Rgsit Rod, Dideg, Bgkok, 10400, Thild

More information

r (1+cos(θ)) sin(θ) C θ 2 r cos θ 2

r (1+cos(θ)) sin(θ) C θ 2 r cos θ 2 icles xmple 66: Rounding one ssume we hve cone of ngle θ, nd we ound it off with cuve of dius, how f wy fom the cone does the ound stt? nd wht is the chod length? (1+cos(θ)) sin(θ) θ 2 cos θ 2 xmple 67:

More information

Solving Electromagnetic Field Problems with Maple Software

Solving Electromagnetic Field Problems with Maple Software Solving Electomgnetic Field Poblems with Mple Softwe Jeng-Nn Jung Abstct Enginees nd pofessionls in industies use Mple Softwe nd moden mth tools s poductivity tool, eplcing mny tditionl esouces such s

More information

Adaptive Control of a Production and Maintenance System with Unknown Deterioration and Obsolescence Rates

Adaptive Control of a Production and Maintenance System with Unknown Deterioration and Obsolescence Rates Int J of Mthemtic Sciences nd Appictions, Vo, No 3, Septembe Copyight Mind Rede Pubictions wwwjounshubcom Adptive Conto of Poduction nd Mintennce System with Unknown Deteiotion nd Obsoescence Rtes Fwzy

More information

Implementation and Evaluation of Transparent Fault-Tolerant Web Service with Kernel-Level Support

Implementation and Evaluation of Transparent Fault-Tolerant Web Service with Kernel-Level Support Poceedings of the IEEE Intentionl Confeence on Compute Communictions nd Netwoks Mimi, Floid, pp. 63-68, Octobe 2002. Implementtion nd Evlution of Tnspent Fult-Tolent Web Sevice with Kenel-Level Suppot

More information

Intro to Circle Geometry By Raymond Cheong

Intro to Circle Geometry By Raymond Cheong Into to Cicle Geomety By Rymond Cheong Mny poblems involving cicles cn be solved by constucting ight tingles then using the Pythgoen Theoem. The min chllenge is identifying whee to constuct the ight tingle.

More information

In-stope bolting for a safer working environment

In-stope bolting for a safer working environment text:templte Jounl 2/3/10 9:34 AM Pge 47 In-stope bolting fo sfe woking envionment by P. Henning* nd P. Feei* J o u n l Synopsis Rock fll ccidents continue to be the min cuse of ftl nd seious injuies in

More information

Small Business Networking

Small Business Networking Why Network is n Essentil Productivity Tool for Any Smll Business TechAdvisory.org SME Reports sponsored by Effective technology is essentil for smll businesses looking to increse their productivity. Computer

More information

Software Engineering and Development

Software Engineering and Development I T H E A 67 Softwae Engineeing and Development SOFTWARE DEVELOPMENT PROCESS DYNAMICS MODELING AS STATE MACHINE Leonid Lyubchyk, Vasyl Soloshchuk Abstact: Softwae development pocess modeling is gaining

More information

Ridgewood South Natural Areas Priority Evaluation. Background Report

Ridgewood South Natural Areas Priority Evaluation. Background Report Ridgewood South Nturl Ares Priority Evlution Bckground Report September 2013 Ridgewood South Nturl Ares Priority Evlution Bckground Report Ridgewood South Nturl Ares Priority Evlution Bckground Report

More information

Fatigue knowledge a new lever in safety management

Fatigue knowledge a new lever in safety management text:templte Jounl 1/20/11 12:43 PM Pge 1 Ftigue knowledge new leve in sfety mngement by W.J. Theon* nd G.M.J. vn Heeden J o u n l Synopsis The pupose of the ppe is to give n intoduction to the concept

More information

A framework for the selection of enterprise resource planning (ERP) system based on fuzzy decision making methods

A framework for the selection of enterprise resource planning (ERP) system based on fuzzy decision making methods A famewok fo the selection of entepise esouce planning (ERP) system based on fuzzy decision making methods Omid Golshan Tafti M.s student in Industial Management, Univesity of Yazd Omidgolshan87@yahoo.com

More information

The preparation of activated carbon from South African coal

The preparation of activated carbon from South African coal The peption of ctivted cbon fom South Aficn col by Q.P. Cmpbell*, J. R. Bunt*, H. Ksini, nd D.J. Kuge* J o u n l Synopsis Activted cbons used in the pecious metls extction industy e chcteized by lge intenl

More information

The establishment of a Mine Design Laboratory for improved teaching of and learning by Mining Engineering students: A case study

The establishment of a Mine Design Laboratory for improved teaching of and learning by Mining Engineering students: A case study The estblishment of Mine Design Lbotoy fo impoved teching of nd lening by Mining Engineeing students: A cse study by B. Genc*, nd F. Cwood* J o u n l Synopsis Impoving student success tes without compomising

More information

Curvature. (Com S 477/577 Notes) Yan-Bin Jia. Oct 8, 2015

Curvature. (Com S 477/577 Notes) Yan-Bin Jia. Oct 8, 2015 Cuvtue Com S 477/577 Notes Yn-Bin Ji Oct 8, 205 We wnt to find mesue of how cuved cuve is. Since this cuvtue should depend only on the shpe of the cuve, it should not be chnged when the cuve is epmetized.

More information

JaERM Software-as-a-Solution Package

JaERM Software-as-a-Solution Package JERM Softwre-s--Solution Pckge Enterprise Risk Mngement ( ERM ) Public listed compnies nd orgnistions providing finncil services re required by Monetry Authority of Singpore ( MAS ) nd/or Singpore Stock

More information

r Curl is associated w/rotation X F

r Curl is associated w/rotation X F 13.5 ul nd ivegence ul is ssocited w/ottion X F ivegence is F Tody we define two opetions tht cn e pefomed on vecto fields tht ply sic ole in the pplictions of vecto clculus to fluid flow, electicity,

More information

Math 1105: Calculus II (Math/Sci majors) MWF 11am / 12pm, Campion 235 Written homework 5

Math 1105: Calculus II (Math/Sci majors) MWF 11am / 12pm, Campion 235 Written homework 5 Mth 5: Clculus II Mth/Sci mjos) MWF m / pm, Cmpion 35 Witten homewok 5 6.6, p. 458 3,33), 6.7, p. 467 8,3), 6.875), 7.58,6,6), 7.44,48) Fo pctice not to tun in): 6.6, p. 458,8,,3,4), 6.7, p. 467 4,6,8),

More information

Small Business Networking

Small Business Networking Why network is n essentil productivity tool for ny smll business Effective technology is essentil for smll businesses looking to increse the productivity of their people nd business. Introducing technology

More information

DRIVER BEHAVIOR MODELING USING HYBRID DYNAMIC SYSTEMS FOR DRIVER-AWARE ACTIVE VEHICLE SAFETY

DRIVER BEHAVIOR MODELING USING HYBRID DYNAMIC SYSTEMS FOR DRIVER-AWARE ACTIVE VEHICLE SAFETY DRIVER BEHAVIOR MODELING USING HYBRID DYNAMIC SYSTEMS FOR DRIVER-AWARE ACTIVE VEHICLE SAFETY Pin Boyz, Amdeep Sthynyn, John H.L. Hnsen Eik Jonsson School o Engineeing nd Compute Science Univesity o Texs

More information

SOEPpapers on Multidisciplinary Panel Data Research

SOEPpapers on Multidisciplinary Panel Data Research Deutsches Institut fü Witschftsfoschung www.diw.de SOEPppes on Multidiscipliny Pnel Dt Resech 136 Thoms Conelissen John S. Heywood Uwe Jijhn S, Pefomnce Py, Risk Attitudes nd Job Stisfction Belin, Octobe

More information

Database Management Systems

Database Management Systems Contents Database Management Systems (COP 5725) D. Makus Schneide Depatment of Compute & Infomation Science & Engineeing (CISE) Database Systems Reseach & Development Cente Couse Syllabus 1 Sping 2012

More information

(Ch. 22.5) 2. What is the magnitude (in pc) of a point charge whose electric field 50 cm away has a magnitude of 2V/m?

(Ch. 22.5) 2. What is the magnitude (in pc) of a point charge whose electric field 50 cm away has a magnitude of 2V/m? Em I Solutions PHY049 Summe 0 (Ch..5). Two smll, positively chged sphees hve combined chge of 50 μc. If ech sphee is epelled fom the othe by n electosttic foce of N when the sphees e.0 m pt, wht is the

More information

INITIAL MARGIN CALCULATION ON DERIVATIVE MARKETS OPTION VALUATION FORMULAS

INITIAL MARGIN CALCULATION ON DERIVATIVE MARKETS OPTION VALUATION FORMULAS INITIAL MARGIN CALCULATION ON DERIVATIVE MARKETS OPTION VALUATION FORMULAS Vesion:.0 Date: June 0 Disclaime This document is solely intended as infomation fo cleaing membes and othes who ae inteested in

More information

Financing Terms in the EOQ Model

Financing Terms in the EOQ Model Financing Tems in the EOQ Model Habone W. Stuat, J. Columbia Business School New Yok, NY 1007 hws7@columbia.edu August 6, 004 1 Intoduction This note discusses two tems that ae often omitted fom the standad

More information

Small Business Networking

Small Business Networking Why network is n essentil productivity tool for ny smll business Effective technology is essentil for smll businesses looking to increse the productivity of their people nd processes. Introducing technology

More information

The Supply of Loanable Funds: A Comment on the Misconception and Its Implications

The Supply of Loanable Funds: A Comment on the Misconception and Its Implications JOURNL OF ECONOMICS ND FINNCE EDUCTION Volume 7 Numbe 2 Winte 2008 39 The Supply of Loanable Funds: Comment on the Misconception and Its Implications. Wahhab Khandke and mena Khandke* STRCT Recently Fields-Hat

More information

DlNBVRGH + Sickness Absence Monitoring Report. Executive of the Council. Purpose of report

DlNBVRGH + Sickness Absence Monitoring Report. Executive of the Council. Purpose of report DlNBVRGH + + THE CITY OF EDINBURGH COUNCIL Sickness Absence Monitoring Report Executive of the Council 8fh My 4 I.I...3 Purpose of report This report quntifies the mount of working time lost s result of

More information

Small Business Networking

Small Business Networking Why network is n essentil productivity tool for ny smll business Effective technology is essentil for smll businesses looking to increse the productivity of their people nd processes. Introducing technology

More information

Small Business Networking

Small Business Networking Why network is n essentil productivity tool for ny smll business Effective technology is essentil for smll businesses looking to increse the productivity of their people nd business. Introducing technology

More information

Things to Remember. r Complete all of the sections on the Retirement Benefit Options form that apply to your request.

Things to Remember. r Complete all of the sections on the Retirement Benefit Options form that apply to your request. Retiement Benefit 1 Things to Remembe Complete all of the sections on the Retiement Benefit fom that apply to you equest. If this is an initial equest, and not a change in a cuent distibution, emembe to

More information

International Monetary Economics Note 1

International Monetary Economics Note 1 36-632 Intenational Monetay Economics Note Let me biefly ecap on the dynamics of cuent accounts in small open economies. Conside the poblem of a epesentative consume in a county that is pefectly integated

More information

ClearPeaks Customer Care Guide. Business as Usual (BaU) Services Peace of mind for your BI Investment

ClearPeaks Customer Care Guide. Business as Usual (BaU) Services Peace of mind for your BI Investment ClerPeks Customer Cre Guide Business s Usul (BU) Services Pece of mind for your BI Investment ClerPeks Customer Cre Business s Usul Services Tble of Contents 1. Overview...3 Benefits of Choosing ClerPeks

More information

est using the formula I = Prt, where I is the interest earned, P is the principal, r is the interest rate, and t is the time in years.

est using the formula I = Prt, where I is the interest earned, P is the principal, r is the interest rate, and t is the time in years. 9.2 Inteest Objectives 1. Undestand the simple inteest fomula. 2. Use the compound inteest fomula to find futue value. 3. Solve the compound inteest fomula fo diffeent unknowns, such as the pesent value,

More information

Small Business Networking

Small Business Networking Why network is n essentil productivity tool for ny smll business Effective technology is essentil for smll businesses looking to increse the productivity of their people nd processes. Introducing technology

More information

875 Grocery Products Purchase Order

875 Grocery Products Purchase Order 875 Gocey Poducts Puchase Ode Functional Goup ID=OG Intoduction: This X12 Tansaction Set contains the fomat establishes the data contents of the Gocey Poducts Puchase Ode Tansaction Set (875) fo use within

More information

32. The Tangency Problem of Apollonius.

32. The Tangency Problem of Apollonius. . The Tngeny olem of Apollonius. Constut ll iles tngent to thee given iles. This eleted polem ws posed y Apollinius of eg (. 60-70 BC), the getest mthemtiin of ntiquity fte Eulid nd Ahimedes. His mjo wok

More information

Laplace s Equation on a Disc

Laplace s Equation on a Disc LECTURE 15 Lplce s Eqution on Disc Lst time we solved the Diichlet poblem fo Lplce s eqution on ectngul egion. Tody we ll look t the coesponding Diichlet poblem fo disc. Thus, we conside disc of dius 1

More information

Corporate Compliance vs. Enterprise-Wide Risk Management

Corporate Compliance vs. Enterprise-Wide Risk Management Corporte Complince vs. Enterprise-Wide Risk Mngement Brent Sunders, Prtner (973) 236-4682 November 2002 Agend Corporte Complince Progrms? Wht is Enterprise-Wide Risk Mngement? Key Differences Why Will

More information

Do Vibrations Make Sound?

Do Vibrations Make Sound? Do Vibations Make Sound? Gade 1: Sound Pobe Aligned with National Standads oveview Students will lean about sound and vibations. This activity will allow students to see and hea how vibations do in fact

More information

Ilona V. Tregub, ScD., Professor

Ilona V. Tregub, ScD., Professor Investment Potfolio Fomation fo the Pension Fund of Russia Ilona V. egub, ScD., Pofesso Mathematical Modeling of Economic Pocesses Depatment he Financial Univesity unde the Govenment of the Russian Fedeation

More information

Small Business Cloud Services

Small Business Cloud Services Smll Business Cloud Services Summry. We re thick in the midst of historic se-chnge in computing. Like the emergence of personl computers, grphicl user interfces, nd mobile devices, the cloud is lredy profoundly

More information

LAL Update. Letter From the President. Dear LAL User:

LAL Update. Letter From the President. Dear LAL User: LAL Update ASSOCIATES OF CAPE COD, INCORPORATED OCTOBER 00 VOLUME 0, NO. Lette Fom the Pesident Dea LAL Use: This Update will claify some of the statistics used with tubidimetic and chomogenic LAL tests.

More information

A formalism of ontology to support a software maintenance knowledge-based system

A formalism of ontology to support a software maintenance knowledge-based system A fomalism of ontology to suppot a softwae maintenance knowledge-based system Alain Apil 1, Jean-Mac Deshanais 1, and Reine Dumke 2 1 École de Technologie Supéieue, 1100 Note-Dame West, Monteal, Canada

More information

Channel selection in e-commerce age: A strategic analysis of co-op advertising models

Channel selection in e-commerce age: A strategic analysis of co-op advertising models Jounal of Industial Engineeing and Management JIEM, 013 6(1):89-103 Online ISSN: 013-0953 Pint ISSN: 013-843 http://dx.doi.og/10.396/jiem.664 Channel selection in e-commece age: A stategic analysis of

More information

Office of Family Assistance. Evaluation Resource Guide for Responsible Fatherhood Programs

Office of Family Assistance. Evaluation Resource Guide for Responsible Fatherhood Programs Office of Family Assistance Evaluation Resouce Guide fo Responsible Fathehood Pogams Contents Intoduction........................................................ 4 Backgound..........................................................

More information

On the Meaning of Regression Coefficients for Categorical and Continuous Variables: Model I and Model II; Effect Coding and Dummy Coding

On the Meaning of Regression Coefficients for Categorical and Continuous Variables: Model I and Model II; Effect Coding and Dummy Coding Dt_nlysisclm On the Mening of Regression for tegoricl nd ontinuous Vribles: I nd II; Effect oding nd Dummy oding R Grdner Deprtment of Psychology This describes the simple cse where there is one ctegoricl

More information

Test Management using Telelogic DOORS. Francisco López Telelogic DOORS Specialist

Test Management using Telelogic DOORS. Francisco López Telelogic DOORS Specialist Test Mngement using Telelogic DOORS Frncisco López Telelogic DOORS Specilist Introduction Telelogic solution for Requirements Mngement DOORS Requirements mngement nd trcebility pltform for complex systems

More information

The transport performance evaluation system building of logistics enterprises

The transport performance evaluation system building of logistics enterprises Jounal of Industial Engineeing and Management JIEM, 213 6(4): 194-114 Online ISSN: 213-953 Pint ISSN: 213-8423 http://dx.doi.og/1.3926/jiem.784 The tanspot pefomance evaluation system building of logistics

More information

SyGEMe: Integrated Municipal Facilities Management of Water Ressources Swiss Geoscience Meeting, Neuchâtel, 21 novembre 2009 k

SyGEMe: Integrated Municipal Facilities Management of Water Ressources Swiss Geoscience Meeting, Neuchâtel, 21 novembre 2009 k SyGEMe: Integrted Municipl Fcilities Mngement of Wter Ressources Tool presenttion, choice of technology, mn-mchine mchine interfce, business opportunities nd prospects 1. Introduction 2. Mn-mchine interfce

More information

Health insurance marketplace What to expect in 2014

Health insurance marketplace What to expect in 2014 Helth insurnce mrketplce Wht to expect in 2014 33096VAEENBVA 06/13 The bsics of the mrketplce As prt of the Affordble Cre Act (ACA or helth cre reform lw), strting in 2014 ALL Americns must hve minimum

More information

9:6.4 Sample Questions/Requests for Managing Underwriter Candidates

9:6.4 Sample Questions/Requests for Managing Underwriter Candidates 9:6.4 INITIAL PUBLIC OFFERINGS 9:6.4 Sample Questions/Requests fo Managing Undewite Candidates Recent IPO Expeience Please povide a list of all completed o withdawn IPOs in which you fim has paticipated

More information

Section 3.3: Geometric Sequences and Series

Section 3.3: Geometric Sequences and Series ectio 3.3: Geometic equeces d eies Geometic equeces Let s stt out with defiitio: geometic sequece: sequece i which the ext tem is foud by multiplyig the pevious tem by costt (the commo tio ) Hee e some

More information

VoIP for the Small Business

VoIP for the Small Business Reducing your telecommunictions costs Reserch firm IDC 1 hs estimted tht VoIP system cn reduce telephony-relted expenses by 30%. Voice over Internet Protocol (VoIP) hs become vible solution for even the

More information

VoIP for the Small Business

VoIP for the Small Business Reducing your telecommunictions costs Overview Voice over Internet Protocol (VoIP) hs become vible solution for even the smllest of compnies s brodbnd internet ccess hs become ffordble nd much more widespred.

More information

How Much Should a Firm Borrow. Effect of tax shields. Capital Structure Theory. Capital Structure & Corporate Taxes

How Much Should a Firm Borrow. Effect of tax shields. Capital Structure Theory. Capital Structure & Corporate Taxes How Much Should a Fim Boow Chapte 19 Capital Stuctue & Copoate Taxes Financial Risk - Risk to shaeholdes esulting fom the use of debt. Financial Leveage - Incease in the vaiability of shaeholde etuns that

More information

Firstmark Credit Union Commercial Loan Department

Firstmark Credit Union Commercial Loan Department Fistmak Cedit Union Commecial Loan Depatment Thank you fo consideing Fistmak Cedit Union as a tusted souce to meet the needs of you business. Fistmak Cedit Union offes a wide aay of business loans and

More information

VoIP for the Small Business

VoIP for the Small Business VoIP for the Smll Business Reducing your telecommunictions costs Reserch firm IDC 1 hs estimted tht VoIP system cn reduce telephony-relted expenses by 30%. Voice over Internet Protocol (VoIP) hs become

More information

856 Ship Notice/Manifest

856 Ship Notice/Manifest 856 Ship Notice/Manifest Functional Goup ID=SH Intoduction: This X12 Tansaction Set contains the fomat and establishes the data contents of the Ship Notice/Manifest Tansaction Set (856) fo use within the

More information

The LCOE is defined as the energy price ($ per unit of energy output) for which the Net Present Value of the investment is zero.

The LCOE is defined as the energy price ($ per unit of energy output) for which the Net Present Value of the investment is zero. Poject Decision Metics: Levelized Cost of Enegy (LCOE) Let s etun to ou wind powe and natual gas powe plant example fom ealie in this lesson. Suppose that both powe plants wee selling electicity into the

More information

VoIP for the Small Business

VoIP for the Small Business Reducing your telecommunictions costs Reserch firm IDC 1 hs estimted tht VoIP system cn reduce telephony-relted expenses by 30%. Voice over Internet Protocol (VoIP) hs become vible solution for even the

More information

Health insurance exchanges What to expect in 2014

Health insurance exchanges What to expect in 2014 Helth insurnce exchnges Wht to expect in 2014 33096CAEENABC 02/13 The bsics of exchnges As prt of the Affordble Cre Act (ACA or helth cre reform lw), strting in 2014 ALL Americns must hve minimum mount

More information

JJMIE Jordan Journal of Mechanical and Industrial Engineering

JJMIE Jordan Journal of Mechanical and Industrial Engineering JJMIE Jodn Jounl of Mechnicl nd Industil Engineeing Volume 3, Numbe 3,Septembe 2009 ISSN 1995-6665 Pges 216-221 Wte Pumping System with PLC nd Fequency Contol Akyleh Ali,* b b c, Mohmmed Al_Soud, Essm

More information

G.GMD.1 STUDENT NOTES WS #5 1 REGULAR POLYGONS

G.GMD.1 STUDENT NOTES WS #5 1 REGULAR POLYGONS G.GMD.1 STUDENT NOTES WS #5 1 REGULAR POLYGONS Regul polygon e of inteet to u becue we begin looking t the volume of hexgonl pim o Tethedl nd to do thee type of clcultion we need to be ble to olve fit

More information

Construction and maintenance of underground railway tracks to safety standard of SANS: 0339

Construction and maintenance of underground railway tracks to safety standard of SANS: 0339 Constuction nd mintennce of undegound ilwy tcks to sfety stndd of SANS: 0339 by F.J. Heyns* J o u n l Synopsis To dte, the constuction nd mintennce of undegound ilwy tcks in the mining industy in South

More information

Introduction to Stock Valuation. Background

Introduction to Stock Valuation. Background Intoduction to Stock Valuation (Text efeence: Chapte 5 (Sections 5.4-5.9)) Topics backgound dividend discount models paamete estimation gowth oppotunities pice-eanings atios some final points AFM 271 -

More information

2 r2 θ = r2 t. (3.59) The equal area law is the statement that the term in parentheses,

2 r2 θ = r2 t. (3.59) The equal area law is the statement that the term in parentheses, 3.4. KEPLER S LAWS 145 3.4 Keple s laws You ae familia with the idea that one can solve some mechanics poblems using only consevation of enegy and (linea) momentum. Thus, some of what we see as objects

More information

Theory and practise of the g-index

Theory and practise of the g-index Theoy and pactise of the g-index by L. Egghe (*), Univesiteit Hasselt (UHasselt), Campus Diepenbeek, Agoalaan, B-3590 Diepenbeek, Belgium Univesiteit Antwepen (UA), Campus Die Eiken, Univesiteitsplein,

More information

867 Product Transfer and Resale Report

867 Product Transfer and Resale Report 867 Poduct Tansfe and Resale Repot Functional Goup ID=PT Intoduction: This X12 Tansaction Set contains the fomat and establishes the data contents of the Poduct Tansfe and Resale Repot Tansaction Set (867)

More information

Cloud Service Reliability: Modeling and Analysis

Cloud Service Reliability: Modeling and Analysis Cloud Sevice eliability: Modeling and Analysis Yuan-Shun Dai * a c, Bo Yang b, Jack Dongaa a, Gewei Zhang c a Innovative Computing Laboatoy, Depatment of Electical Engineeing & Compute Science, Univesity

More information

Episode 401: Newton s law of universal gravitation

Episode 401: Newton s law of universal gravitation Episode 401: Newton s law of univesal gavitation This episode intoduces Newton s law of univesal gavitation fo point masses, and fo spheical masses, and gets students pactising calculations of the foce

More information

Supplementary Material for EpiDiff

Supplementary Material for EpiDiff Supplementay Mateial fo EpiDiff Supplementay Text S1. Pocessing of aw chomatin modification data In ode to obtain the chomatin modification levels in each of the egions submitted by the use QDCMR module

More information

Introduction to the Situation Calculus

Introduction to the Situation Calculus Intoduction to the Sitution Clculu Muice Pgnucco School of Compute Sc. & Eng. Univeit of New South Wle NSW 2052, AUSTRALIA Univeit of São Pulo, Thud 12 Febu, 2004 Into to Sitution Clculu 2 Reoning About

More information

Geometric Sequences. Definition: A geometric sequence is a sequence of the form

Geometric Sequences. Definition: A geometric sequence is a sequence of the form Geometic equeces Aothe simple wy of geetig sequece is to stt with umbe d epetedly multiply it by fixed ozeo costt. This type of sequece is clled geometic sequece. Defiitio: A geometic sequece is sequece

More information

Peer-to-Peer File Sharing Game using Correlated Equilibrium

Peer-to-Peer File Sharing Game using Correlated Equilibrium Pee-to-Pee File Shaing Game using Coelated Equilibium Beibei Wang, Zhu Han, and K. J. Ray Liu Depatment of Electical and Compute Engineeing and Institute fo Systems Reseach, Univesity of Mayland, College

More information