'n Kwantitatiewe en kwalitatiewe waardebepaling van ondernemingsrisiko en -mislukking
- Authors: Mostert, Marius
- Date: 2015-03-18
- Subjects: Business failures , Business enterprises - Finance , Risk management
- Type: Thesis
- Identifier: uj:13439 , http://hdl.handle.net/10210/13477
- Description: D.Com. (Business Management) , Please refer to full text to view abstract
- Full Text:
- Authors: Mostert, Marius
- Date: 2015-03-18
- Subjects: Business failures , Business enterprises - Finance , Risk management
- Type: Thesis
- Identifier: uj:13439 , http://hdl.handle.net/10210/13477
- Description: D.Com. (Business Management) , Please refer to full text to view abstract
- Full Text:
'n Ondersoek na alternatiewe metodes van kredietrisikoverskansing in die staalbedryf
- Van der Walt, Johanna Cornelia
- Authors: Van der Walt, Johanna Cornelia
- Date: 2011-12-07
- Subjects: Risk management , Steel industry and trade
- Type: Thesis
- Identifier: uj:1858 , http://hdl.handle.net/10210/4215
- Description: M.Comm. , Many companies, especially in the steel industry, are today required to dedicate much of their time to managing the risks they are faced with. Risk can be defined as the uncertainty or probability of the potential deviation from the expected or the norm. Risk management therefore encompasses all activities undertaken by management, which seek to reduce either the probability of a potential deviation and/or the quantum of the potential deviation. The risk management process is therefore aimed at ensuring that the steel company will deliver to its shareholders the earnings that are expected of them. In order to avoid these potential risks, the steel company has to make sure that the clients that the company are doing business with have the ability and willingness to pay their accounts. There is a very thin line between choosing potential clients and the sales that will be gained from dealing with these debtors, and the risk that these debtors has for the steel company. It is therefore important to categorize the debtors into different risk profiles. After the category of risk is identified, the steel company has to choose between different credit insurance methods to cover risks. The methods that are currently available in the steel industry are rigid, and are costing the company money, that could have been invested elsewhere in the company. It is therefore important to look at alternative methods to either avoid the risks or cover the risks. It depends on the type of client the company is doing business with. The clients can be classified as A, B, C or D risk profile. The composition of the debtors book in terms of risk profiles will be the criteria for choosing a method for credit insurance.
- Full Text:
- Authors: Van der Walt, Johanna Cornelia
- Date: 2011-12-07
- Subjects: Risk management , Steel industry and trade
- Type: Thesis
- Identifier: uj:1858 , http://hdl.handle.net/10210/4215
- Description: M.Comm. , Many companies, especially in the steel industry, are today required to dedicate much of their time to managing the risks they are faced with. Risk can be defined as the uncertainty or probability of the potential deviation from the expected or the norm. Risk management therefore encompasses all activities undertaken by management, which seek to reduce either the probability of a potential deviation and/or the quantum of the potential deviation. The risk management process is therefore aimed at ensuring that the steel company will deliver to its shareholders the earnings that are expected of them. In order to avoid these potential risks, the steel company has to make sure that the clients that the company are doing business with have the ability and willingness to pay their accounts. There is a very thin line between choosing potential clients and the sales that will be gained from dealing with these debtors, and the risk that these debtors has for the steel company. It is therefore important to categorize the debtors into different risk profiles. After the category of risk is identified, the steel company has to choose between different credit insurance methods to cover risks. The methods that are currently available in the steel industry are rigid, and are costing the company money, that could have been invested elsewhere in the company. It is therefore important to look at alternative methods to either avoid the risks or cover the risks. It depends on the type of client the company is doing business with. The clients can be classified as A, B, C or D risk profile. The composition of the debtors book in terms of risk profiles will be the criteria for choosing a method for credit insurance.
- Full Text:
A case study in industrial risk management
- Raubenheimer, Pieter Jacobus
- Authors: Raubenheimer, Pieter Jacobus
- Date: 2011-12-06
- Subjects: Risk management
- Type: Thesis
- Identifier: uj:1853 , http://hdl.handle.net/10210/4210
- Description: M.Ing. , This dissertation focuses on an industrial risk management case study, which aims to illustrate how the risks involved in a new project have to be identified, approached and managed. The aim of this dissertation is therefore to act as an example of modem risk management theory and implementation in an industrial engineering environment. The first part of the dissertation focuses on the theoretical background of risk management. It starts by giving the history of risk after which a definition of risk is concluded from a variety of text books. The history of risk shows how risk developed through the ages and evolved into a way of making sure that the right strategic decisions are taken. The following chapters focus on the frameworks that have been developed by different international parties to structure the risk management process. The financial environment is also highlighted as an industry in which risk has been developed to help companies tremendously in making investment decisions. Although there are fundamental differences between risk management in the industrial and financial environment, there are however a few similarities. One aspect that can be taken from the financial environment and be implemented in the industrial environment is the fact that risk management has to be done according to a fixed structure or framework. A short literature case study shows how businesses made crucial mistakes in the past, and how implementing modem risk management techniques can rectify these mistakes. A big part of risk management is not only the qualitative analysis, but also in the quantitative analysis, which was ignored in the literature case study. The theory behind these quantitative techniques is highlighted as the last theoretical background before the second part of the dissertation focuses on the risk involved in the expansion project of an oil refinery. After the theoretical background of the expansion project is given as an introduction to the case study, the quantitative analysis for the expansion project is done. Through A Case Study in Industrial Risk Management 2 the quantitative analysis, the high risks involved in the project are highlighted more clearly and numbers or figures will indicate how realistic the objectives of the project are. By monitoring and controlling these critical project variables through the project life cycle, the chances of achieving the project results are greatly increased.
- Full Text:
- Authors: Raubenheimer, Pieter Jacobus
- Date: 2011-12-06
- Subjects: Risk management
- Type: Thesis
- Identifier: uj:1853 , http://hdl.handle.net/10210/4210
- Description: M.Ing. , This dissertation focuses on an industrial risk management case study, which aims to illustrate how the risks involved in a new project have to be identified, approached and managed. The aim of this dissertation is therefore to act as an example of modem risk management theory and implementation in an industrial engineering environment. The first part of the dissertation focuses on the theoretical background of risk management. It starts by giving the history of risk after which a definition of risk is concluded from a variety of text books. The history of risk shows how risk developed through the ages and evolved into a way of making sure that the right strategic decisions are taken. The following chapters focus on the frameworks that have been developed by different international parties to structure the risk management process. The financial environment is also highlighted as an industry in which risk has been developed to help companies tremendously in making investment decisions. Although there are fundamental differences between risk management in the industrial and financial environment, there are however a few similarities. One aspect that can be taken from the financial environment and be implemented in the industrial environment is the fact that risk management has to be done according to a fixed structure or framework. A short literature case study shows how businesses made crucial mistakes in the past, and how implementing modem risk management techniques can rectify these mistakes. A big part of risk management is not only the qualitative analysis, but also in the quantitative analysis, which was ignored in the literature case study. The theory behind these quantitative techniques is highlighted as the last theoretical background before the second part of the dissertation focuses on the risk involved in the expansion project of an oil refinery. After the theoretical background of the expansion project is given as an introduction to the case study, the quantitative analysis for the expansion project is done. Through A Case Study in Industrial Risk Management 2 the quantitative analysis, the high risks involved in the project are highlighted more clearly and numbers or figures will indicate how realistic the objectives of the project are. By monitoring and controlling these critical project variables through the project life cycle, the chances of achieving the project results are greatly increased.
- Full Text:
A corporate governance framework for Sector Education and Training Authorities (SETAs)
- Authors: Barclay, Darion Jerome
- Date: 2012-07-19
- Subjects: Corporate governance , Sector Education and Training Authorities , Risk management , Compliance auditing , Occupational training
- Type: Thesis
- Identifier: uj:8842 , http://hdl.handle.net/10210/5254
- Description: D.Litt et Phil. , The establishment of Sector Education and Training Authorities (SETAs) was seen as a way of addressing the continued shortage of skilled professionals in order to ensure a competitive South African economy in the global environment. The SETAs attracted much media attention as a result of poor service delivery primarily attributed to poor corporate governance. Despite the many positive contributions by SETAs, they remain the most criticized entities in post-democratic South Africa. The study entails a description, explanation and assessment of the concepts corporate governance, risk management and compliance in SETAs. The legislative framework that underpins good corporate governance is identified and explained. The roles of the board and its fiduciary duties, and of the audit committee and the roles of executive management are described in order to ensure a clear understanding of each of them and a separation of each from the others. The concepts corporate governance, risk management and compliance are inseparable from the well-being of any organization. The board of an entity is ultimately accountable for the implementation of good corporate governance. Its role can be of value only if it is properly constituted, is functioning effectively and if its role is understood by all parties concerned. The manifestations of poor corporate governance include poor financial management, non-compliance with policies and procedures, lack of capacity building and the lack of a formalized nomination system to identify suitably qualified and experienced board members. By exercising corporate governance in an accountable and transparent manner, the most appropriate developmental policy objectives to sustainably develop a society by mobilizing and applying all available resources in the public and private sectors in the most efficient, efficient and democratic way will be achieved.
- Full Text:
- Authors: Barclay, Darion Jerome
- Date: 2012-07-19
- Subjects: Corporate governance , Sector Education and Training Authorities , Risk management , Compliance auditing , Occupational training
- Type: Thesis
- Identifier: uj:8842 , http://hdl.handle.net/10210/5254
- Description: D.Litt et Phil. , The establishment of Sector Education and Training Authorities (SETAs) was seen as a way of addressing the continued shortage of skilled professionals in order to ensure a competitive South African economy in the global environment. The SETAs attracted much media attention as a result of poor service delivery primarily attributed to poor corporate governance. Despite the many positive contributions by SETAs, they remain the most criticized entities in post-democratic South Africa. The study entails a description, explanation and assessment of the concepts corporate governance, risk management and compliance in SETAs. The legislative framework that underpins good corporate governance is identified and explained. The roles of the board and its fiduciary duties, and of the audit committee and the roles of executive management are described in order to ensure a clear understanding of each of them and a separation of each from the others. The concepts corporate governance, risk management and compliance are inseparable from the well-being of any organization. The board of an entity is ultimately accountable for the implementation of good corporate governance. Its role can be of value only if it is properly constituted, is functioning effectively and if its role is understood by all parties concerned. The manifestations of poor corporate governance include poor financial management, non-compliance with policies and procedures, lack of capacity building and the lack of a formalized nomination system to identify suitably qualified and experienced board members. By exercising corporate governance in an accountable and transparent manner, the most appropriate developmental policy objectives to sustainably develop a society by mobilizing and applying all available resources in the public and private sectors in the most efficient, efficient and democratic way will be achieved.
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A critical evaluation of uncertainty and expectations in fixed investment decisions
- Authors: Chetty, Sivan
- Date: 2015-08-18
- Subjects: Investments , Risk management , Macroeconomics
- Type: Thesis
- Identifier: uj:13897 , http://hdl.handle.net/10210/14240
- Description: M.Com. , Please refer to full text to view abstract
- Full Text:
- Authors: Chetty, Sivan
- Date: 2015-08-18
- Subjects: Investments , Risk management , Macroeconomics
- Type: Thesis
- Identifier: uj:13897 , http://hdl.handle.net/10210/14240
- Description: M.Com. , Please refer to full text to view abstract
- Full Text:
A formal approach to the optimisation of information technology risk management
- Authors: Badenhorst, Karin Petra
- Date: 2014-09-30
- Subjects: Information technology - Management , Risk management
- Type: Thesis
- Identifier: uj:12438 , http://hdl.handle.net/10210/12225
- Description: Ph.D. (Computer Science) , Please refer to full text to view abstract
- Full Text:
- Authors: Badenhorst, Karin Petra
- Date: 2014-09-30
- Subjects: Information technology - Management , Risk management
- Type: Thesis
- Identifier: uj:12438 , http://hdl.handle.net/10210/12225
- Description: Ph.D. (Computer Science) , Please refer to full text to view abstract
- Full Text:
A proposed sector wide risk model based on enterprise wide risk management
- Authors: Buhr, Richard Otto
- Date: 2012-06-04
- Subjects: Risk management , Risk assessment , Crisis management
- Type: Thesis
- Identifier: uj:2331 , http://hdl.handle.net/10210/4789
- Description: D.Ing. , For executive management to guide an enterprise, strategic planning is essential. Using Enterprise Wide Risk Management (EWRM) as an input to Scenario Analysis (SA) for Strategic Planning (SP) allows for improved accuracy over conventional methods. This would allow for greater realism from the executive management perspective of possible outcomes in scenario modelling by providing a solid quantitative base founded on real operational information. Emerging regulatory legislation for corporates also require quantitative risk management in the enterprise for reporting and rating purposes, providing a wealth of information for scenario modelling purposes. From the outset this research focuses on the industrial sectors in South Africa, though the model could be applied to any industry sector internationally. The core of any industrial enterprise is made up of the Operational Support Systems (OSS) that provide the hardware and software infrastructure to operate the business. The smooth operation and efficient handling of any unforeseen events in the OSS impacts the very survival of the en- terprise in a highly competitive environment. The development of an OSS risk management (RM) strategy to provide an efficient and effective way to recognise, classify and mitigate the risks involved in OSS is thus crucial to any enterprise that seeks to remain competitive. To implement this RM strategy and provide information regarding likely loss events, a quantitative risk model is required to simulate different scenarios. This research investigates the development of a Sector Wide Risk Model (SWRM) to simulate stress events in an industry sector and their impact on sector members.
- Full Text:
- Authors: Buhr, Richard Otto
- Date: 2012-06-04
- Subjects: Risk management , Risk assessment , Crisis management
- Type: Thesis
- Identifier: uj:2331 , http://hdl.handle.net/10210/4789
- Description: D.Ing. , For executive management to guide an enterprise, strategic planning is essential. Using Enterprise Wide Risk Management (EWRM) as an input to Scenario Analysis (SA) for Strategic Planning (SP) allows for improved accuracy over conventional methods. This would allow for greater realism from the executive management perspective of possible outcomes in scenario modelling by providing a solid quantitative base founded on real operational information. Emerging regulatory legislation for corporates also require quantitative risk management in the enterprise for reporting and rating purposes, providing a wealth of information for scenario modelling purposes. From the outset this research focuses on the industrial sectors in South Africa, though the model could be applied to any industry sector internationally. The core of any industrial enterprise is made up of the Operational Support Systems (OSS) that provide the hardware and software infrastructure to operate the business. The smooth operation and efficient handling of any unforeseen events in the OSS impacts the very survival of the en- terprise in a highly competitive environment. The development of an OSS risk management (RM) strategy to provide an efficient and effective way to recognise, classify and mitigate the risks involved in OSS is thus crucial to any enterprise that seeks to remain competitive. To implement this RM strategy and provide information regarding likely loss events, a quantitative risk model is required to simulate different scenarios. This research investigates the development of a Sector Wide Risk Model (SWRM) to simulate stress events in an industry sector and their impact on sector members.
- Full Text:
A risk management system for the international services marketing division of a financial institution
- Authors: Swanepoel, André Pieter
- Date: 2011-12-06
- Subjects: ABSA Bank , Risk management , Financial institutions management
- Type: Mini-Dissertation
- Identifier: uj:1856 , http://hdl.handle.net/10210/4213
- Description: M.Comm. , The International Banking division of Absa has an administrative as well as a sales aspect forming the basis of services delivered to the banking customer. For the administrative aspect a risk management system along with audit methodology have been implemented whilst for the Sales aspect no control procedure have been applied at all. The purpose of this dissertation therefore was to put forward a risk management system which could be applied to the International Services Marketing division of a Financial Institution like Absa. This was achieved by performing a literature study of risk management applied in the financial industry in order to identify relevant risks and relating it to the International Banking division and its sales process to design an adequate risk management system. The system was designed and implemented with relative ease although sceptism contrived to some teething problems. However, in a joint effort to mitigate risk all obstacles in the application of the system were removed, resulting in a successful risk and control analysis being performed along with implementing risk management plans. The system has been applied in the local as well as several African financial industries with great success in mitigating risk relevant to the International Banking Sales divisions of the financial institutions. The emphasis is now on implementation in more developed (western) financial industries where Absa has several subsidiaries as well as the design of audit methodology for the relevant divisions.
- Full Text:
- Authors: Swanepoel, André Pieter
- Date: 2011-12-06
- Subjects: ABSA Bank , Risk management , Financial institutions management
- Type: Mini-Dissertation
- Identifier: uj:1856 , http://hdl.handle.net/10210/4213
- Description: M.Comm. , The International Banking division of Absa has an administrative as well as a sales aspect forming the basis of services delivered to the banking customer. For the administrative aspect a risk management system along with audit methodology have been implemented whilst for the Sales aspect no control procedure have been applied at all. The purpose of this dissertation therefore was to put forward a risk management system which could be applied to the International Services Marketing division of a Financial Institution like Absa. This was achieved by performing a literature study of risk management applied in the financial industry in order to identify relevant risks and relating it to the International Banking division and its sales process to design an adequate risk management system. The system was designed and implemented with relative ease although sceptism contrived to some teething problems. However, in a joint effort to mitigate risk all obstacles in the application of the system were removed, resulting in a successful risk and control analysis being performed along with implementing risk management plans. The system has been applied in the local as well as several African financial industries with great success in mitigating risk relevant to the International Banking Sales divisions of the financial institutions. The emphasis is now on implementation in more developed (western) financial industries where Absa has several subsidiaries as well as the design of audit methodology for the relevant divisions.
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A risk-based approach to the assessment and certification business processes at tertiary educational institutions
- Authors: Van Zyl, Marthinus Petrus
- Date: 2017
- Subjects: Risk management , Diplomas - Evaluation , Accreditation (Education) - Standards , Education, Higher
- Language: English
- Type: Doctoral (Thesis)
- Identifier: http://hdl.handle.net/10210/262226 , uj:27672
- Description: Ph.D. (Business Management) , Abstract: Poisson and Hallak (2007:111) make the statement that “Universities are seen de facto as meritocratic Institutions that can be trusted to provide fair and impartial testing. However, when their testing mechanisms break down (for example, in China) or are subject to corrupt practices (for example, India), their image [reputation] is significantly weakened”. In the South African context, high profile cases like those of Shamim Shaik and Pallo Jordan come to mind. Universities place a high premium on their assessment processes and the qualifications (certificates) issued. However, the assessment and certification processes of these Institutions are exposed to various uncertainties (risks) that can affect the organisations’ right of existence. To circumvent and limit the risks associated with the assessment and certification processes, a management process is required which starts with the design, implementation and continuous monitoring of these processes. This then is the focus of this research, to apply a risk-based approach to the assessment and certification business processes at Universities. The methodology applied in this research is action research. Action research is a systematic research approach that enables individuals and organisations to find effective solutions to everyday problems. This systematic approach provides action research with its scientific base. The research is qualitative in nature and makes use of a pilot study to determine the limitations and gaps in current assessment and certification processes and the risks associated with these processes. A pilot study, which identified the gaps in the assessment and certification business process, provided guidance in the development of the interview schedule that was used in collecting empirical data. The pilot study was based on the assessment and certification processes at the University of Johannesburg (where the problem that needed to be solved was identified). Guided by the pilot study, the population under investigation was interrogated to develop a best practice solution at tertiary education institutions (Universities) in South Africa. Data was collected by means of structured interviews guided by an interview schedule consisting mainly of open-ended questions. The study found that accepted (best practice) business process design and risk management practices are not used or taken into consideration in the design and...
- Full Text:
- Authors: Van Zyl, Marthinus Petrus
- Date: 2017
- Subjects: Risk management , Diplomas - Evaluation , Accreditation (Education) - Standards , Education, Higher
- Language: English
- Type: Doctoral (Thesis)
- Identifier: http://hdl.handle.net/10210/262226 , uj:27672
- Description: Ph.D. (Business Management) , Abstract: Poisson and Hallak (2007:111) make the statement that “Universities are seen de facto as meritocratic Institutions that can be trusted to provide fair and impartial testing. However, when their testing mechanisms break down (for example, in China) or are subject to corrupt practices (for example, India), their image [reputation] is significantly weakened”. In the South African context, high profile cases like those of Shamim Shaik and Pallo Jordan come to mind. Universities place a high premium on their assessment processes and the qualifications (certificates) issued. However, the assessment and certification processes of these Institutions are exposed to various uncertainties (risks) that can affect the organisations’ right of existence. To circumvent and limit the risks associated with the assessment and certification processes, a management process is required which starts with the design, implementation and continuous monitoring of these processes. This then is the focus of this research, to apply a risk-based approach to the assessment and certification business processes at Universities. The methodology applied in this research is action research. Action research is a systematic research approach that enables individuals and organisations to find effective solutions to everyday problems. This systematic approach provides action research with its scientific base. The research is qualitative in nature and makes use of a pilot study to determine the limitations and gaps in current assessment and certification processes and the risks associated with these processes. A pilot study, which identified the gaps in the assessment and certification business process, provided guidance in the development of the interview schedule that was used in collecting empirical data. The pilot study was based on the assessment and certification processes at the University of Johannesburg (where the problem that needed to be solved was identified). Guided by the pilot study, the population under investigation was interrogated to develop a best practice solution at tertiary education institutions (Universities) in South Africa. Data was collected by means of structured interviews guided by an interview schedule consisting mainly of open-ended questions. The study found that accepted (best practice) business process design and risk management practices are not used or taken into consideration in the design and...
- Full Text:
A systems approach to the management of demand risk in commercial property development
- Javangwe, Wilson Matsika Isheunesu
- Authors: Javangwe, Wilson Matsika Isheunesu
- Date: 2012-02-06
- Subjects: Commercial real estate , Real estate development , Real estate investment , Risk management
- Type: Mini-Dissertation
- Identifier: uj:2004 , http://hdl.handle.net/10210/4358
- Description: M.Ing. , One of the features of institutionalized markets is the concentration of assets in the hands of a few individuals which necessitates the management of not only the risk of individual assets and loans, but more importantly, that of the portfolio and the aggregate risk thereof. Even when individual commercial real estate (CRE) loans are prudently underwritten, concentrations of loans that are similarly affected by cyclical changes in the economy can expose an institution to an unacceptable level of risk if not properly managed. The management of demand risk is of particular importance given that CRE assets are procured on the basis of their income producing ability. The suggestion by various authors has been that supply side issues such as overbuilding are major cause of downside in the real estate market. In this text however the suggestion is that demand side issues; specifically the failure to track and account for demand volatility contributes greatly to overall CRE risk. Analysis of the structure and system of the CRE markets reveals that the system of interdependency amongst the various participants, which determines the overall market outcomes, necessitates a systems approach. The findings of this analysis and systems approach suggests, that perhaps the majority of CRE models currently employed are incorrectly specified as they either fail to account for the multivariate environment or ignore the qualitative aspects of the investment decision totally. Using a systems framework, the author, through a literature review, demonstrates the successful application of both quantitative and qualitative models in modelling a design solution that is informed by the multiple determinants of demand.
- Full Text:
- Authors: Javangwe, Wilson Matsika Isheunesu
- Date: 2012-02-06
- Subjects: Commercial real estate , Real estate development , Real estate investment , Risk management
- Type: Mini-Dissertation
- Identifier: uj:2004 , http://hdl.handle.net/10210/4358
- Description: M.Ing. , One of the features of institutionalized markets is the concentration of assets in the hands of a few individuals which necessitates the management of not only the risk of individual assets and loans, but more importantly, that of the portfolio and the aggregate risk thereof. Even when individual commercial real estate (CRE) loans are prudently underwritten, concentrations of loans that are similarly affected by cyclical changes in the economy can expose an institution to an unacceptable level of risk if not properly managed. The management of demand risk is of particular importance given that CRE assets are procured on the basis of their income producing ability. The suggestion by various authors has been that supply side issues such as overbuilding are major cause of downside in the real estate market. In this text however the suggestion is that demand side issues; specifically the failure to track and account for demand volatility contributes greatly to overall CRE risk. Analysis of the structure and system of the CRE markets reveals that the system of interdependency amongst the various participants, which determines the overall market outcomes, necessitates a systems approach. The findings of this analysis and systems approach suggests, that perhaps the majority of CRE models currently employed are incorrectly specified as they either fail to account for the multivariate environment or ignore the qualitative aspects of the investment decision totally. Using a systems framework, the author, through a literature review, demonstrates the successful application of both quantitative and qualitative models in modelling a design solution that is informed by the multiple determinants of demand.
- Full Text:
A theoretical assessment of the impacts of poor risk management in the construction industry
- Ferede, Yisakor S., Mashwama, Nokulunga X., Thwala, Didibhuku W.
- Authors: Ferede, Yisakor S. , Mashwama, Nokulunga X. , Thwala, Didibhuku W.
- Date: 2020
- Subjects: Construction industry , Construction projects , Risk management
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/464631 , uj:41516 , Citation: Ferede, Y.S., Mashwama, N.X. & Thwala, D.W. 2020. A theoretical assessment of the impacts of poor risk management in the construction industry. , DOI: 10.3311/CCC2020-016
- Description: Abstract: The study examines previous literature on the impacts of poor risk management in construction industry, with specific aim of identifying the causes of poor implementation of risk management in construction projects. This is because the concept of risk management has attracted much attention in recent years and that researchers and research bodies, be it corporate or government that try to formulate remedies to poor risk management should begin with an understanding of the causes and impact of poor risk management. The totality of risk management in construction industries include the identification, measurement and prevention of all likelihoods of negative outcomes. The study is conducted with reference to existing theoretical literature, published and unpublished research. The study is mainly a literature review/survey on the cause and effects of poor risk management. One of the primary findings emanating from the study reveals that empirical studies have identified several important factors which causes poor risk management; such as project delays, project failure, reputational damages, and loss of profit, material scarcity, and inadequate project accountability amongst others. The study explores the causes and effects of poor risk management in construction projects and presents a robust background on the theories of poor risk management. This study will enable contractors, stakeholders and construction risk managers to achieve better result and quality projects.
- Full Text:
- Authors: Ferede, Yisakor S. , Mashwama, Nokulunga X. , Thwala, Didibhuku W.
- Date: 2020
- Subjects: Construction industry , Construction projects , Risk management
- Language: English
- Type: Article
- Identifier: http://hdl.handle.net/10210/464631 , uj:41516 , Citation: Ferede, Y.S., Mashwama, N.X. & Thwala, D.W. 2020. A theoretical assessment of the impacts of poor risk management in the construction industry. , DOI: 10.3311/CCC2020-016
- Description: Abstract: The study examines previous literature on the impacts of poor risk management in construction industry, with specific aim of identifying the causes of poor implementation of risk management in construction projects. This is because the concept of risk management has attracted much attention in recent years and that researchers and research bodies, be it corporate or government that try to formulate remedies to poor risk management should begin with an understanding of the causes and impact of poor risk management. The totality of risk management in construction industries include the identification, measurement and prevention of all likelihoods of negative outcomes. The study is conducted with reference to existing theoretical literature, published and unpublished research. The study is mainly a literature review/survey on the cause and effects of poor risk management. One of the primary findings emanating from the study reveals that empirical studies have identified several important factors which causes poor risk management; such as project delays, project failure, reputational damages, and loss of profit, material scarcity, and inadequate project accountability amongst others. The study explores the causes and effects of poor risk management in construction projects and presents a robust background on the theories of poor risk management. This study will enable contractors, stakeholders and construction risk managers to achieve better result and quality projects.
- Full Text:
A theoretical review of risk identification : perspective of construction industry
- Renault, B. Y., Agumba, J. N., Ansary, N.
- Authors: Renault, B. Y. , Agumba, J. N. , Ansary, N.
- Date: 2016
- Subjects: Construction industry , Risk management
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/214956 , uj:21346 , Citation: Renault, B.Y., Agumba, J.N & Ansary, N. 2016. A theoretical review of risk identification : perspective of construction industry.
- Description: Abstract: Managing risks in construction projects has been acknowledged as an essential management process in order to accomplish the project objectives in terms of time, cost, quality, safety and environmental sustainability. However, up to now most studies have concentrated on some aspects of construction risk management rather than using a systematic and comprehensive approach to identifying risks and analyse the probability of occurrence and impacts of these risks. Risk management consists of identifying risks, assessing risks either quantitatively or qualitatively, selecting the appropriate method for handling risks, and then monitoring and documenting risks. By identifying risks in an early stage of planning and assessing their comparative significance, project managers can identify techniques employed to reduce risks and allocate the best people to mitigate them. Thus, this research focuses on risk identification, as opposed to other processes of risk management. This research is mainly a literature review and was conducted through accredited academic and Professional journals, books, the internet, theses, and dissertations. The reviewed literature revealed that the entire risk management process is not only limited to solving problem in advance but also for the occurrence of any unexpected future problems. The study further shown that issues with possible threats envisaged in a project are not only a means to reduce losses within the project, but also a means to transfer risks into opportunities, which can lead to economic profitability, environmental and other advantages. This paper is of value to managers and decision makers involved in managing risks where it is intended to boost their knowledge regarding the importance of risk identification as a crucial stage of the process to managing risks.
- Full Text:
- Authors: Renault, B. Y. , Agumba, J. N. , Ansary, N.
- Date: 2016
- Subjects: Construction industry , Risk management
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/214956 , uj:21346 , Citation: Renault, B.Y., Agumba, J.N & Ansary, N. 2016. A theoretical review of risk identification : perspective of construction industry.
- Description: Abstract: Managing risks in construction projects has been acknowledged as an essential management process in order to accomplish the project objectives in terms of time, cost, quality, safety and environmental sustainability. However, up to now most studies have concentrated on some aspects of construction risk management rather than using a systematic and comprehensive approach to identifying risks and analyse the probability of occurrence and impacts of these risks. Risk management consists of identifying risks, assessing risks either quantitatively or qualitatively, selecting the appropriate method for handling risks, and then monitoring and documenting risks. By identifying risks in an early stage of planning and assessing their comparative significance, project managers can identify techniques employed to reduce risks and allocate the best people to mitigate them. Thus, this research focuses on risk identification, as opposed to other processes of risk management. This research is mainly a literature review and was conducted through accredited academic and Professional journals, books, the internet, theses, and dissertations. The reviewed literature revealed that the entire risk management process is not only limited to solving problem in advance but also for the occurrence of any unexpected future problems. The study further shown that issues with possible threats envisaged in a project are not only a means to reduce losses within the project, but also a means to transfer risks into opportunities, which can lead to economic profitability, environmental and other advantages. This paper is of value to managers and decision makers involved in managing risks where it is intended to boost their knowledge regarding the importance of risk identification as a crucial stage of the process to managing risks.
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An actionable approach to designing a risk management methodology
- Authors: Hamman, Claudius
- Date: 2012-10-30
- Subjects: Risk management , Strategic planning
- Type: Thesis
- Identifier: uj:10487 , http://hdl.handle.net/10210/7984
- Description: M.Comm. (Strategic Management) , Due to dramatic changes in the organisational landscape, organisations have had to review and amend risk management frameworks, processes and principles more regularly. Consequently, organisations now require an approach to risk management that enables the achievement of strategy, objectives and business activities. Risk management has to be implemented with the consideration of both the internal and external business environment on an enterprise-wide basis. The latter should result in a competitive advantage that drives organisational performance and reduces the total cost of risk. A pro-active approach to managing the effects of uncertainty on objectives has become a necessity for remaining competitive in constantly changing business environment. This study investigates the context and ideology through which risk management can be implemented. The purpose of the research was to identify, customize and recommend a sound methodology which can be incorporated in order to implement risk management as a business enabler. By adopting an exploratory approach, the researcher conducted qualitative research, in the form of an in-depth case study, on a multinational financial services organisation. Structured interviews were held with senior individuals in order to gather data regarding the risk management practices of the organisation.
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- Authors: Hamman, Claudius
- Date: 2012-10-30
- Subjects: Risk management , Strategic planning
- Type: Thesis
- Identifier: uj:10487 , http://hdl.handle.net/10210/7984
- Description: M.Comm. (Strategic Management) , Due to dramatic changes in the organisational landscape, organisations have had to review and amend risk management frameworks, processes and principles more regularly. Consequently, organisations now require an approach to risk management that enables the achievement of strategy, objectives and business activities. Risk management has to be implemented with the consideration of both the internal and external business environment on an enterprise-wide basis. The latter should result in a competitive advantage that drives organisational performance and reduces the total cost of risk. A pro-active approach to managing the effects of uncertainty on objectives has become a necessity for remaining competitive in constantly changing business environment. This study investigates the context and ideology through which risk management can be implemented. The purpose of the research was to identify, customize and recommend a sound methodology which can be incorporated in order to implement risk management as a business enabler. By adopting an exploratory approach, the researcher conducted qualitative research, in the form of an in-depth case study, on a multinational financial services organisation. Structured interviews were held with senior individuals in order to gather data regarding the risk management practices of the organisation.
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An ALCO perspective on treasury risks
- Authors: Schoeman, Gideon Petrus
- Date: 2012-09-05
- Subjects: Asset-liability management , Bank management , Risk management
- Type: Mini-Dissertation
- Identifier: uj:3592 , http://hdl.handle.net/10210/6973
- Description: M.Comm. , The purpose of this study is to describe the different approaches to risk management by the bank's ALCO and the bank's treasury. The clear identification of their responsibilities will improve overall management, profitability, performance evaluation and benchmarking, as well as the interpretation and management of market risk regulation. The contribution of this study lies in the fact that this problem is frequently mentioned by senior bank executives and researchers as one factor inhibiting to the effective strategic management of banks and one of the major causes of friction between management in banks.
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- Authors: Schoeman, Gideon Petrus
- Date: 2012-09-05
- Subjects: Asset-liability management , Bank management , Risk management
- Type: Mini-Dissertation
- Identifier: uj:3592 , http://hdl.handle.net/10210/6973
- Description: M.Comm. , The purpose of this study is to describe the different approaches to risk management by the bank's ALCO and the bank's treasury. The clear identification of their responsibilities will improve overall management, profitability, performance evaluation and benchmarking, as well as the interpretation and management of market risk regulation. The contribution of this study lies in the fact that this problem is frequently mentioned by senior bank executives and researchers as one factor inhibiting to the effective strategic management of banks and one of the major causes of friction between management in banks.
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An application of the generalised autoregressive score model to market risk modelling
- Authors: Kamika, Mbuaya Grace
- Date: 2019
- Subjects: Autoregression (Statistics) , Econometric models , Risk management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/456837 , uj:40485
- Description: Abstract: This study makes use of different statistical techniques to estimate unconditional and conditional market risk measures. The unconditional measures are calculated by using three traditional Value at Risk techniques namely the Historical Simulation (HS), Variance-Covariance (VC) and Monte Carlo simulation (MCS). However, for the conditional market risk measure, this study employs a novel technique known as the Generalized Autoregressive Score (GAS) model. This technique allows us to overcome the unrealistic assumption often used in empirical studies that argue that the score of the empirical distribution when computing the conditional Value at Risk measures; is constant over time. The technique used in this study allows us to relax this assumption and let the score of the empirical distribution to evolve over time. The study begins by removing the effect of autocorrelation and heteroskedasticity in the returns series by applying an Autoregressive Moving Average Generalized Autoregressive Conditional Heteroscedasticity (ARMA-GARCH) process. Thereafter, the filtered returns are fitted to a GAS process in order to estimate the evolving score of the empirical distribution of the returns to be used in the conditional Value at Risk computation. The study uses a sample data of daily log returns of four stock market indices: - the South African ALSI, the UK FTSE 100, the Chinese Hang Seng and the U.S. S&P 500 spanning from the 22 September 2003 to 5 November 2019. Firstly, the results of the unconditional Value at Risk measures are found to be around 3%, 5% and 2% for the HS, VC and (MCS) techniques, respectively. Secondly the estimated parameters of all the specified ARIMA-GARCH models used to filter the return series were found to be statistically significant including the leverage which suggests that bad news have a higher volatility than good news in the respective stock markets. Finally, the resulting standardized residuals were used to estimate the evolving score (parameters) of the GAS process. The estimated parameters from the GAS model show that the scores of the empirical distribution are significant and that the current score of the empirical distribution are explained by their previous score values. The market risk measures obtained with the GAS model are found to be more reliable than the ones obtained with traditional conditional Value at Risk model that assume constant score. To validate our results, the study implements three back test techniques namely, the unconditional coverage test, the conditional coverage test and the three zone test. The results support our abovementioned findings. , M.Com. (Financial Economics)
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- Authors: Kamika, Mbuaya Grace
- Date: 2019
- Subjects: Autoregression (Statistics) , Econometric models , Risk management
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/456837 , uj:40485
- Description: Abstract: This study makes use of different statistical techniques to estimate unconditional and conditional market risk measures. The unconditional measures are calculated by using three traditional Value at Risk techniques namely the Historical Simulation (HS), Variance-Covariance (VC) and Monte Carlo simulation (MCS). However, for the conditional market risk measure, this study employs a novel technique known as the Generalized Autoregressive Score (GAS) model. This technique allows us to overcome the unrealistic assumption often used in empirical studies that argue that the score of the empirical distribution when computing the conditional Value at Risk measures; is constant over time. The technique used in this study allows us to relax this assumption and let the score of the empirical distribution to evolve over time. The study begins by removing the effect of autocorrelation and heteroskedasticity in the returns series by applying an Autoregressive Moving Average Generalized Autoregressive Conditional Heteroscedasticity (ARMA-GARCH) process. Thereafter, the filtered returns are fitted to a GAS process in order to estimate the evolving score of the empirical distribution of the returns to be used in the conditional Value at Risk computation. The study uses a sample data of daily log returns of four stock market indices: - the South African ALSI, the UK FTSE 100, the Chinese Hang Seng and the U.S. S&P 500 spanning from the 22 September 2003 to 5 November 2019. Firstly, the results of the unconditional Value at Risk measures are found to be around 3%, 5% and 2% for the HS, VC and (MCS) techniques, respectively. Secondly the estimated parameters of all the specified ARIMA-GARCH models used to filter the return series were found to be statistically significant including the leverage which suggests that bad news have a higher volatility than good news in the respective stock markets. Finally, the resulting standardized residuals were used to estimate the evolving score (parameters) of the GAS process. The estimated parameters from the GAS model show that the scores of the empirical distribution are significant and that the current score of the empirical distribution are explained by their previous score values. The market risk measures obtained with the GAS model are found to be more reliable than the ones obtained with traditional conditional Value at Risk model that assume constant score. To validate our results, the study implements three back test techniques namely, the unconditional coverage test, the conditional coverage test and the three zone test. The results support our abovementioned findings. , M.Com. (Financial Economics)
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An approach to risk management in the mining projects environment : a case study
- Authors: Mndzebele, Andile S.
- Date: 2012-06-04
- Subjects: Risk management , Project management , Mining industry , EPCM
- Type: Thesis
- Identifier: http://ujcontent.uj.ac.za8080/10210/373617 , uj:2371 , http://hdl.handle.net/10210/4826
- Description: M. Phil. , Risk management comprises of risk identification, risk analysis, response planning, monitoring and action planning tasks that are carried out throughout the life cycle of a project in order to ensure that project objectives are met. Risk is a fact of life in all mining type projects. This research dissertation documents the risk management practices of an EPCM company involved in mining projects. Risk analysis techniques are discussed and the author goes deeper to examine what risk means to a project, and how the project team perceive, identify and quantify project risks. This dissertation uses a case study to focus on an EPCM firm‘s approach to risk management in the mining projects environment. This study aims to illustrate how the risks involved in a project have to be identified, controlled and managed. The purpose of this dissertation is therefore to act as an implementation risk management model for the case company and for use in a typical mining projects environment. Risk is an integral part of engineering projects, and it is necessary to manage the risks in order to ensure project success.
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- Authors: Mndzebele, Andile S.
- Date: 2012-06-04
- Subjects: Risk management , Project management , Mining industry , EPCM
- Type: Thesis
- Identifier: http://ujcontent.uj.ac.za8080/10210/373617 , uj:2371 , http://hdl.handle.net/10210/4826
- Description: M. Phil. , Risk management comprises of risk identification, risk analysis, response planning, monitoring and action planning tasks that are carried out throughout the life cycle of a project in order to ensure that project objectives are met. Risk is a fact of life in all mining type projects. This research dissertation documents the risk management practices of an EPCM company involved in mining projects. Risk analysis techniques are discussed and the author goes deeper to examine what risk means to a project, and how the project team perceive, identify and quantify project risks. This dissertation uses a case study to focus on an EPCM firm‘s approach to risk management in the mining projects environment. This study aims to illustrate how the risks involved in a project have to be identified, controlled and managed. The purpose of this dissertation is therefore to act as an implementation risk management model for the case company and for use in a typical mining projects environment. Risk is an integral part of engineering projects, and it is necessary to manage the risks in order to ensure project success.
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An assessment of Peoples Bank Business' service to SMME's sponsored by the Khula Indemnity Scheme
- Authors: Bredenkamp, Monique
- Date: 2012-01-16
- Subjects: Small business , Small business finance , Banks and banking , Risk management , Commercial credit
- Type: Mini-Dissertation
- Identifier: uj:1910 , http://hdl.handle.net/10210/4271
- Description: M.Comm. , South Africa's Minister of Trade and Industry, Alec Irwin, stated that "one of the most striking features of the South African economy is the underdevelopment of small and medium enterprises" (Polkinghorne, 2001). A lack of sufficient capital and credit is often a major handicap to the development of SMMEs, particularly in their early growth stages. The growth and development .ofthe small, medium and micro enterprise (SMME) sector is acknowledged by most interest groups and policy-makers as being of critical importance to South Africa's ability to address the serious problems of unemployment. The South African government suggests that the SMME sector -with the help of government support -is capable of fulfilling these obj ectives and has introduced a number of supply-side measures to promote the formerly neglected sector. The overall objective is "to create an enabling environment" and "to level the playing field" (South Africa, 1995) in terms of national, regional and local policy frameworks for SMME development. Khula Enterprise Finance Ltd. was established in 1996 in terms of a Department of Trade and Industry (DT!) initiative and provides access to credit to SMMEs through various delivery mechanisms. One of these delivery mechanisms is a scheme that was created to assist SMMEs to access finance from traditional financial intermediaries by providing guarantees on a risksharing basis. Khula Enterprise Finance Ltd. has assisted in delivering almost 103 000 loans, credit guarantees and other facilities to SMMEs since the agency started operating in 1996. The total value of the loans and guarantees exceeds R550 million (Martins, 2001). ii However, Khula Enterprise Finance Ltd. has to contend with intermediaries applying its programmes -banks that are not renowned for their spirit of adventure, and welfare-oriented service organisations that lack business acumen (Khula: Some business ... , 2002: 53). The perception among the general population in South Africa is that most banks have neither the capacity nor the will to actively and creatively manage SMME loans to South Africa's emerging markets -"emerging" meaning political customers who have not been seen as critical in the past, but who are seen as such in the future. In South Africa these are largely people of black African descent (Polkinghorne, 2001). The target of Peoples Bank Business includes previously disadvantaged communities such as black persons, women and the disabled. Additionally, clients are assisted with venture capital or loans to fund start-up businesses. Emphasis is placed on assistance to the community in addition to traditional criteria such as bottom-line results. This study attempted to assess the service provided by Peoples Bank Business to clients sponsored by the Khula Indemnity Scheme. This study did not attempt to provide solutions to problems experienced, but rather to identify the deficiencies/gaps in service as experienced by clients of Peoples Bank Business.
- Full Text:
- Authors: Bredenkamp, Monique
- Date: 2012-01-16
- Subjects: Small business , Small business finance , Banks and banking , Risk management , Commercial credit
- Type: Mini-Dissertation
- Identifier: uj:1910 , http://hdl.handle.net/10210/4271
- Description: M.Comm. , South Africa's Minister of Trade and Industry, Alec Irwin, stated that "one of the most striking features of the South African economy is the underdevelopment of small and medium enterprises" (Polkinghorne, 2001). A lack of sufficient capital and credit is often a major handicap to the development of SMMEs, particularly in their early growth stages. The growth and development .ofthe small, medium and micro enterprise (SMME) sector is acknowledged by most interest groups and policy-makers as being of critical importance to South Africa's ability to address the serious problems of unemployment. The South African government suggests that the SMME sector -with the help of government support -is capable of fulfilling these obj ectives and has introduced a number of supply-side measures to promote the formerly neglected sector. The overall objective is "to create an enabling environment" and "to level the playing field" (South Africa, 1995) in terms of national, regional and local policy frameworks for SMME development. Khula Enterprise Finance Ltd. was established in 1996 in terms of a Department of Trade and Industry (DT!) initiative and provides access to credit to SMMEs through various delivery mechanisms. One of these delivery mechanisms is a scheme that was created to assist SMMEs to access finance from traditional financial intermediaries by providing guarantees on a risksharing basis. Khula Enterprise Finance Ltd. has assisted in delivering almost 103 000 loans, credit guarantees and other facilities to SMMEs since the agency started operating in 1996. The total value of the loans and guarantees exceeds R550 million (Martins, 2001). ii However, Khula Enterprise Finance Ltd. has to contend with intermediaries applying its programmes -banks that are not renowned for their spirit of adventure, and welfare-oriented service organisations that lack business acumen (Khula: Some business ... , 2002: 53). The perception among the general population in South Africa is that most banks have neither the capacity nor the will to actively and creatively manage SMME loans to South Africa's emerging markets -"emerging" meaning political customers who have not been seen as critical in the past, but who are seen as such in the future. In South Africa these are largely people of black African descent (Polkinghorne, 2001). The target of Peoples Bank Business includes previously disadvantaged communities such as black persons, women and the disabled. Additionally, clients are assisted with venture capital or loans to fund start-up businesses. Emphasis is placed on assistance to the community in addition to traditional criteria such as bottom-line results. This study attempted to assess the service provided by Peoples Bank Business to clients sponsored by the Khula Indemnity Scheme. This study did not attempt to provide solutions to problems experienced, but rather to identify the deficiencies/gaps in service as experienced by clients of Peoples Bank Business.
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An empirical analysis of perceived risks in derivatives trading
- Authors: Du Toit, C.F.
- Date: 2012-10-18
- Subjects: Derivative securities , Futures , Options (Finance) , Swaps (Finance) , Risk management
- Type: Thesis
- Identifier: uj:10410 , http://hdl.handle.net/10210/7877
- Description: M.Comm.
- Full Text:
- Authors: Du Toit, C.F.
- Date: 2012-10-18
- Subjects: Derivative securities , Futures , Options (Finance) , Swaps (Finance) , Risk management
- Type: Thesis
- Identifier: uj:10410 , http://hdl.handle.net/10210/7877
- Description: M.Comm.
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An integrated approach to disaster risk management
- Authors: Baloyi, Vukosi Thomas
- Date: 2018
- Subjects: Disasters - Risk assessment , Emergency management , Risk management , Hazard mitigation
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/293845 , uj:31960
- Description: M.Ing. (Engineering Management) , Abstract: Even in developed countries, natural hazards triggers major disasters. It gets worse in developing countries, where natural hazards building codes and standards are not integrated from planning phases when constructing structures. With sustainable development under threat from the impact of disasters, urgent need to strengthen capacity for the realization and management of community and constructed structural resilience is critical. With the World facing disaster challenge, this research seeks to research, identify, and recommend an implementable Disaster Risk Management (DRM) Best Practice (DRMBP) with the objective to substantially reduce disaster risk. The endless occurrences of natural disasters throughout the World motivate the significant shift from disaster management to DRM. DRM aims to substantially minimize the loss of human lives and economy by mitigating potential damages from disasters. While disasters are inevitable; through preparedness and mitigation measures, their rising devastating impact can be reduced. Promotion and support of science and technology-based methodologies to bridge technology gap in order to build effective DRM processes that can substantially reduce the loss of lives and economy is necessary. Currently, it is of concern that disaster losses are on the rise while science and engineering inspired systems, devices, and processes designed for mitigation impact from disasters are operational. The Sendai Framework for Disaster Risk Reduction (2015-2030) (SFDRR) emphasize the four Priorities for Actions to reducing the losses and damages and ensure the building of resilience. To realize these, SFDRR recommend amongst many parameters technological measures for intervention in order to increase preparedness level (including early warning systems and evacuation plans) and prevention of new and existing disaster risk. The disruptive technologies of Industry 4.0, the Internet of Things (IoT), is encouraging innovation in different sectors. This Information and Communication Technology (ICT) solution has completely reinvented, transformed, and addressed most challenges faced in the World. Considered a technology breakthrough as regarded as an industrial revolution; IoT enables the transformation of an ordinary device to a smart Thing. While ordinary device remains working in silos and depend on human interaction, IoT infrastructure establish an interoperability environment where smart Things communicate and constitute real-time decision analytics...
- Full Text:
- Authors: Baloyi, Vukosi Thomas
- Date: 2018
- Subjects: Disasters - Risk assessment , Emergency management , Risk management , Hazard mitigation
- Language: English
- Type: Masters (Thesis)
- Identifier: http://hdl.handle.net/10210/293845 , uj:31960
- Description: M.Ing. (Engineering Management) , Abstract: Even in developed countries, natural hazards triggers major disasters. It gets worse in developing countries, where natural hazards building codes and standards are not integrated from planning phases when constructing structures. With sustainable development under threat from the impact of disasters, urgent need to strengthen capacity for the realization and management of community and constructed structural resilience is critical. With the World facing disaster challenge, this research seeks to research, identify, and recommend an implementable Disaster Risk Management (DRM) Best Practice (DRMBP) with the objective to substantially reduce disaster risk. The endless occurrences of natural disasters throughout the World motivate the significant shift from disaster management to DRM. DRM aims to substantially minimize the loss of human lives and economy by mitigating potential damages from disasters. While disasters are inevitable; through preparedness and mitigation measures, their rising devastating impact can be reduced. Promotion and support of science and technology-based methodologies to bridge technology gap in order to build effective DRM processes that can substantially reduce the loss of lives and economy is necessary. Currently, it is of concern that disaster losses are on the rise while science and engineering inspired systems, devices, and processes designed for mitigation impact from disasters are operational. The Sendai Framework for Disaster Risk Reduction (2015-2030) (SFDRR) emphasize the four Priorities for Actions to reducing the losses and damages and ensure the building of resilience. To realize these, SFDRR recommend amongst many parameters technological measures for intervention in order to increase preparedness level (including early warning systems and evacuation plans) and prevention of new and existing disaster risk. The disruptive technologies of Industry 4.0, the Internet of Things (IoT), is encouraging innovation in different sectors. This Information and Communication Technology (ICT) solution has completely reinvented, transformed, and addressed most challenges faced in the World. Considered a technology breakthrough as regarded as an industrial revolution; IoT enables the transformation of an ordinary device to a smart Thing. While ordinary device remains working in silos and depend on human interaction, IoT infrastructure establish an interoperability environment where smart Things communicate and constitute real-time decision analytics...
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An integrated process framework for engineering endeavours
- Authors: Erasmus, Jonnro
- Date: 2013-05-27
- Subjects: Engineering firms - Management , Project management , Strategic planning , Risk management
- Type: Mini-Dissertation
- Identifier: uj:7549 , http://hdl.handle.net/10210/8407
- Description: M.Ing. (Engineering Management) , With the exponential increase in the complexity of modern products, the enterprise which creates the product also increases in complexity. Projects to realise engineering products are often fraught with delays, budget overruns and unsatisfied clients. Such failures are often caused by any of the following factors: Lack of understanding and definition of the responsibilities of the parties involved; Lack of understanding of the challenges and planning to deal with those challenges; Lack of control of the input and output requirements, information and risks; Poor communication in the project team due to ambiguous and undefined technical terms; and Lack of work integration due to poor understanding of the different domains involved in the project. This dissertation sets about exploring the domains of systems engineering, project management and quality management, by extensively referencing industry standards and international good practice in the quest of unravelling conflicts and uncertainties. Selected concepts and business processes of each domain are studied to arrive at an understanding of the objectives and scopes of those processes. This understanding enables the integration of these business processes and concepts by utilising the widely-used plan-do-check-act (PDCA) cycle. The business processes of each domain are divided into the four PDCA quadrants and integrated models of those quadrants are presented. The four quadrants are synthesised into a single framework which shows the project management, quality management and systems engineering processes performed during a single project phase. This Engineering Management Framework may be tailored for the design and realisation of any complex product, given adequate planning, understanding of the challenges and knowledge of the subject matter.
- Full Text:
- Authors: Erasmus, Jonnro
- Date: 2013-05-27
- Subjects: Engineering firms - Management , Project management , Strategic planning , Risk management
- Type: Mini-Dissertation
- Identifier: uj:7549 , http://hdl.handle.net/10210/8407
- Description: M.Ing. (Engineering Management) , With the exponential increase in the complexity of modern products, the enterprise which creates the product also increases in complexity. Projects to realise engineering products are often fraught with delays, budget overruns and unsatisfied clients. Such failures are often caused by any of the following factors: Lack of understanding and definition of the responsibilities of the parties involved; Lack of understanding of the challenges and planning to deal with those challenges; Lack of control of the input and output requirements, information and risks; Poor communication in the project team due to ambiguous and undefined technical terms; and Lack of work integration due to poor understanding of the different domains involved in the project. This dissertation sets about exploring the domains of systems engineering, project management and quality management, by extensively referencing industry standards and international good practice in the quest of unravelling conflicts and uncertainties. Selected concepts and business processes of each domain are studied to arrive at an understanding of the objectives and scopes of those processes. This understanding enables the integration of these business processes and concepts by utilising the widely-used plan-do-check-act (PDCA) cycle. The business processes of each domain are divided into the four PDCA quadrants and integrated models of those quadrants are presented. The four quadrants are synthesised into a single framework which shows the project management, quality management and systems engineering processes performed during a single project phase. This Engineering Management Framework may be tailored for the design and realisation of any complex product, given adequate planning, understanding of the challenges and knowledge of the subject matter.
- Full Text: