The General Paper Overview
This paper constitutes a review from selected academic papers in a selection that satisfies qualitative and quantitative content in a common ration. The paper is built from journals that have been studied carefully for the benefit of this write-up. The studies adopt a blind-peer-review strategy in effecting an appropriate analysis of studied journals.
The originality of the work has been noted as it is necessary for contributing to the broad body of knowledge through an argumentative, analytical, and well established approach. The paper selection hinges on the basis of its ‘methods’ regardless of the topic.
Aim
The aim of this paper is to review scientific based academic journals for the perfection of field studies.
Research Paper Review – 1
Table 1: First Studied Journal: Post-Project Changes: Occurrence, Causes, and Counter-Measures.
General Review
The general idea of the paper hinges on investigating the quantitative content and the background that is associated with changes which are noticeable immediately after a project is completed. The approach adopted for the paper focuses on ensuring a commitment to a number of projects which are selected through a criterion that relates to budgeting. The journal stresses that time-of-completion, as well as the execution of the projects institution are linked with the project-budget. The findings from the paper align with identifying the frequency as well as the limit of how the frequencies are affected by alterations or changes observed at a particular time that a project has been completed. The limitation of the studies has been specified to be a compounding of research which is specified on Norwegian-agencies. According to analysis:
“The findings indicate a need for new performance measures for projects, as the classical parameters provide motivation to project managers and their teams to focus on project cost and timely delivery, rather than the life-cycle cost” (Andersen et. al., 2011).
In case the propositions of the paper are consistently implemented, the journal’s contribution would be relevant in the reduction and prevention of post-project variations. The journal, published in English, is clearly presented and easy to comprehend.
Conceptualization and theoretical basis of the work
The journal depicts that the componential experiences of widespread alternations which are known of projects after their completion is likely to express cost- overrun as well as the functionality which is certainly more than hidden sanctions which are faced after there is a change in a completed project. The fresh techniques which have been expressed in the journal comprise of two elements which include the risk lifecycle and the risk relationships. These elements are differentiated under different project risk factors. The journal also supposes that risk lifecycle entails the possible events which occur during concealment or action. Otherwise
“This paper contributes to the limited literature focusing on changes after project completion” (Andersen et. al., 2011).
Further:
The paper includes material that may help project managers and project owners avoid post-project changes and the costs and inconvenience associated with such changes (Andersen et. al., 2011).
The concept of the paper appropriately identifies and elaborates on the provision of a generalized overview of the research problem. The practical relevance of the paper is based on the additional approaches it provides to the process of risk management. It entails literature review leading to a theoretical framework that is then applied in a case study to test its effectiveness in addressing certain issues in risk evaluation.
The fresh techniques which have been expressed in the journal comprise of two elements which include the risk lifecycle and the risk relationships. These elements are differentiated under different project risk factors. The literature review section develops a clear connection with other studies conducted earlier on the same or related topics. This section highlights the basic events which lead to development of risks and the relationships between risks including the patterns followed by these relationships. The theoretical basis of this article lies in the field of project management and management science (Andersen et. al., 2011).
Analytical Framework
The analytical method adopted in the paper is built on developing of a framework that is tested in a case study. There are no hypotheses developed for the study and thus the study involves both literature review and a case study analysis. In this way, the theory developed in the paper is adequate to address the research problems. The paper aims at assessing the applicability of the two elements, risk lifecycle and risk relationships in risk management techniques in order to accurately predict the probability of certain projects incurring financial losses (Andersen et. al., 2011).
Research Design
The research is designed to meet the main variables whose significance and connection to each other and the research problem is clearly explained through elaborate literature review and acknowledgement. Otherwise, the relationship between these risks is also explained including the basic patterns of the risk relationships such as independence, series, dependence and parallel.
Results and Discussions
The paper aims at assessing the applicability of the two elements, risk lifecycle and risk relationships in risk management techniques in order to accurately predict the probability of certain projects incurring financial losses
Conclusions
The subject matter of leadership and management to humankind dates back to as long as when humankind realized communization as a better well of leaving. This has been made necessary by the need for a unified direction to a group of people; hence, a need made necessary for leadership. In the context, leadership may be said to be a process of socially influencing or aiding and supporting another individual or a group for the realization of a general task. By the definition, there is an exclusive suggestion of followership. Leadership basically should provide an opportunity for individuals to contribute to a common goal though an integration and maximization of collectable resources and management of same. However, in recent day, much of what is considered to be leadership is basically a glorification of management as in a sincere sense leadership should be expressed most of the times in the benefit of followership and at self’s expense.
Research Paper Review- 2
Table 2: Second Studied Journal: Simulation-based excess return model for real estate development: A practical Monte Carlo simulation-based method for quantitative risk management and project valuation for real estate development projects illustrated with a high-rise office development case study
General Review
This paper identifies with the pronounced need for making practical quantitative management of risk as regarding investing in real-estate with underwritten methodology which specifically supports the guidance of decision-making and addressing the shortfalls which are known of discounted cash-flow modeling through the assessment of the entire range of possible resultant issues which the paper attempts to address.
Conceptualization and theoretical basis of the work
This paper is based on simulation of an excess return-model (SERM) which is originally a methodology for developing applications of Monte-Carlo simulation which is vital for projecting the assessment of risks as well as enabling a wide practice of the DCF model. This the paper achieves through a the presentation and investigation of a case-study which provides a result of modeling that can be placed hand in hand with prior-projects which have well defined results. Based on the fact that several construction projects are characterized by complex procedures, long periods and organizational/ technological convolutions, they are associated with numerous risk factors.
The article capitalizes on this advantage in exploring the major risk factors which is known to be associated with construction industries in a bid to bring about strategies of mitigating them. In this case, priority is given to those risks showing the greatest influence on the time, safety, quality and cost of construction projects relative to the combined standpoints of the industry stakeholders and the risk lifecycles.
Basically, the fundamental idea is a clear explanation that relates to the previous research studies concerning the same topic. Again, the studies has a wide range of practical applications in that the research findings contribute to studies in risk mitigation in real-estate development. Further more, the research findings can be a crucial resource base for service providers wishing to provide their risk management techniques real-estate development (Gimpelevich, 2011). Apart from this, the research is based on previously conducted studies to which a strong connection is created and acknowledged. And lastly, the theoretical basis of this work is based on the field of management of real-estate development.
Analytical Framework
The analytical framework for the paper is built on a practical method utilizable for stochastic-quantitative-risk-management modeling which is structured for real-estate development-projects and identifies that identical-projects-risk adjusted reassures creation using SERM which varies clearly with returns which are brought about by traditional discounted-cash-flow analysis. It has been noted that:
SERM corrects serious shortcomings in the DCF methodology by incorporating stochastic tools for the measurement of the universe of outcomes. It further serves to condense the results of Monte Carlo simulations into a simplified metric that can guide practitioners and which is easily communicational to decision makers for making project funding decisions (Gimpelevich, 2011).
Research Design
The research is designed to make an effective use of SERM which offers an easy-to-use, practical-decision-making method which is utilizable in project- underwriting and is geared to address the extent to which the methodology prevails as noted:
“Stochastic assessment of the range of outcomes; interdependence of input variables; and objective risk premium metrics” (Gimpelevich, 2011).
This is very significant for relieving tension as well as boredom and enabling the diffusion of hostile attitude. It promotes energy in a practical quantitative management of risk as regarding investing in real-estate and forms the basic provisions for controlling the work-environment.
Results and Discussions
The paper puts into use the originality of the method which is used in making project-funding-decisions as regarding real-estate development-project that capitalizes on Monte-Carlo-simulation in a combination with DCF-analysis. It has been Noted that:
“The methodology presented here will have value for real estate developers, investors, project underwriters, and lenders looking for a practical and objective method for project valuation and risk management than is offered by traditional DCF analysis” (Gimpelevich, 2011).
In the process of reviewing the literature, there was no analogous methodology for risk management. The data which was produced in this research study is appropriate in terms of addressing the research question but it is not sufficient. Otherwise, the process of data collection and record keeping has been accomplished in a uniquely systematical style. The study analyzes the data generated based on the probability of a risk occurring and the magnitude of the associated consequences. These statistical methods are appropriate for this kind of study. Besides, the statistical techniques are adequately described and referenced in accordance with the accepted procedures of analysis.
Added to this, the regulatory has not been specifically addressed in the study. Based on the discussions provided, time, cost, quality, safety and the environment can make good control variables. Despite the section involving a data analysis by considering a number of variables, there is no systematic approach in the whole process of analysis. However, the discussions section comprises clearly described accounts on how themes, concepts and categories have been made use of.
Conclusions
Simulation-based-excess-return-model for real-estate development has been suggested for effective study and Analysis of quantitative-risk-management and project-valuation for real-estate development-projects illustrated with a high-rise office-development case study. Management can be said to involve directing people as a head where they are subordinates- the only exception to this may be when the management is only acquired as an honor or a title without the fundamental powers of a manager accrued to it. Management differs significantly from leadership in the sense that a true leader drives a team of followers not subordinates; where as a manager does the direct opposite. A leader’s ability of influencing followers for proactive exhibition of actions, which may be demanding for the realization of positive outcomes, is fundamentally critical for leadership. However, in the management of infrastructure such as real estate, management embeds effective utilization of models in enhancing ease of accessibility. The paper therefore addressed this by putting into use the originality of the method which is used in making project-funding-decisions as regarding real-estate development-project that capitalizes on Monte-Carlo-simulation in a combination with DCF-analysis
Research Paper Review- 3
Table 3: Third Studied Journal: Value management in the South African manufacturing industry: exploratory findings
General Review
This paper is concerned with investigating the state and limit of value-management (VM) as it is practiced in South Africa’s manufacturing-industry. It hopes to employ designers’/engineer’s; level the available information on VM as well as adopting the VM technique for usage in companies. It has been stressed that to achieve this:
A web-based, online questionnaire survey was employed to establish value management practice within the manufacturing sector. Descriptive statistics are used to analyze the survey response data (Bowen et. al., 2011).
The results from the studies identify the VM as vitally usable in designing and engineering in South-Africa; this ha so far been put to less use within the region. Bowen et. al (2011) emphasizes that VM is basically a device for reducing costs. According to Bowen et. al:
“This misperception, and the lack of awareness of the potential benefits of VM, must be remedied if the South African manufacturing industry is to remain competitive” (Bowen et. al., 2011)
For the industry in South Africa to become more effective, there has to be more adaptation to the usage of VM standards/techniques.
Conceptualization and theoretical basis of the work
The paper is presented to agree principally with the possibility of developing upon the analysis in the future with a limitation in lack to survey adequately on the manufacturing organization within the locality. There is the provision of an extreme difficulty in obtaining information form the sector. This depicts the ability to accept fresh ideas; these ideas may not necessarily be customary of day-to-day thoughts. Managing the system would be able to place judgments on hold and in the cause, attend to the ideas of other persons on the subject matter in check.
Analytical Framework
The analytical frame work Identifies emergent courses which are presently found in the VM-theory and hence practice of same has been emphasized through an exploration of VM’S techniques that deal with risks, qualities and management of the environment. Presented against an orientation which is known of an increased globalization, the study has reviewed significantly that the adaptation of the model in in South Africa is very relevant in driving a better competitive market and offers a result in agreement with a pointer for further researches.
This entails providing credits where it may be necessary. Bowen et. al. (2011) notes that leadership that is magnanimous makes sure that resources are at the disposal for actualizing goals for an institution or a community that is been lead. The purpose–driven leader would personalize the responsibility for prevention of failure of the project by been completely committed to a course. The result of leadership been magnanimous is that the lead feel they are not tricked but are rather a part of the community or institution, as the case may be. As a hallmark-of-effective-leadership, the leader must endeavor spreading fames and taking blames rather!
Research Design
Leadership has to inspire dedication exemplary by ensuring the completion of next steps towards realization of defined visions. This must be preceded be articulated set examples.
Results and Discussions
This could be said to be the unification of an individual’s inner/core values and the expression of outward actions. The individual could be trusted based on the fact that he/she is consistent without veering from inner/core values no matter the cost or consequences that could be compelling. Purpose-driven leadership needs to posses followership’s trust and as such needs integrity-display.
Conclusions
Leadership that is driven by purpose is expected to elementarily have a clear sense of direction of what to achieve and an equally firm-grasp on the procedural path of achieving success. In any case, it is demanded more that a leader should just have a vision; purpose-driven leadership must shape the vision and ensure necessary actions for actualizing same.
Research Paper Review – 4
Table 4: Fourth Studied Journal: An assessment of surficial aquifer vulnerability and groundwater pollution from a hazardous landfill site, Torbali/Turkey
General Review
The paper discuses Torbali-River-basin which is a vital component of Kucuk-Menderes’ basin which is located in West Turkey And contains a very high productive-alluvium of aquifers. It has been stressed that:
“Hazardous waste from urbanization and industrialization has been stored above the main unconfined alluvial aquifer for the last five years” (Simsek et. al 2008).
The study is aimed at determining the limit or vulnerability-characteristics which are utilizable in assessing the level of groundwater-pollution as could be placed against harmful landfill-sites which are found over the surficial-aquifer. The study adopted the use of GOD-vulnerability-model in determining two significant vulnerable.
Conceptualization and theoretical basis of the work
The paper aims at assessing the applicability of the two elements, risk lifecycle and risk relationships in risk management techniques in order to accurately predict the probability of certain projects incurring financial losses. The research entails two main variables whose significance and connection to each other and the research problem is clearly explained through elaborate literature review and acknowledgement. The study explores a variety of events which comprise what is regarded as the risk lifecycle such as the start time and duration of the risk and the cash-flow of the risk losses. On the other hand, the relationship between these risks is also explained including the basic patterns of the risk relationships such as independence, series, dependence and parallel.
Analytical Framework
The paper analyzes and emphasizes the need for handling hazardous-solid-wastes with all cautious and preliminary measures. In a specific study, it has been noted that:
Leachate seepage from the landfill is a main contaminant for Na- Cl water types with electrical conductivity (EC) values of 4,275 to 4,575 μS/cm. The pH values of the leachate are between 6.3 and 6.6. Concentration of As, Al, Fe, Mn, Ni, Sb, Se and Cd in the leachate are above and Pb, Zn and Cu concentrations are below the drinking water standards (Simsek et. al 2008).
Based on the generated outcome from the analysis, the Leachate–waste had been considered to constitute a great level of contaminations which is capable of bring about suitability of the disposal of waste with the vulnerability zone. The vulnerability-zone for the investigated area was found not be good enough for disposing wastes and hence needs to be redesigned or improved
Research Design
In this paper, the research question has been clearly explained in the introductory section by referring to a body of relevant data. However, there is no clearly stated research question. A discussion on the practical applicability of risk management is employed in developing the intended research question. The study does not include any hypotheses which need to be tested. However, it includes consideration of a number of variables, which are statistically measured with the aim of assessing the level of agreement or disagreement between the findings of the current study and four other studies concerning the same topic.
The survey could be improved through inclusion of hypotheses, which could allow for systematic analysis of the data generated. Additionally, this could narrow the scope of the research to considering specific variables related to the research question. The article includes a clear account of the criterion used in selecting the focus units of analysis. The chosen cases and variables are related to risk management in one way or the other. Analysis of the objectives and findings of previous studies provides the background of the study. The research isolates the measures considered from other effects thereby clearly separating and reasonably operationalising the variables. The variables considered in this research include risk management training, risk management usage, and risk management application. The reliability and validity of the measures used has also been adequately discussed. The population considered in this study is appropriate for the research question. Moreover, the population sample has been specified to be 200 construction organizations chosen randomly. However, it is not possible to generalize the results based on the sample.
Results and Discussions
It is possible to tell that the data considered in this research study is appropriate and enough. Additionally, data collection and record keeping is done systematically and tabulated. The main statistical techniques employed in this research study are ANOVA and weighted average scores (WAS), which are appropriate and adequately described in the study. In addition, reference is made to accepted procedures for analysis. On the other hand, there are no control variables, which are considered in this research study. Moreover, there are no additional variables, which are supposed to be considered that have not been included in the study.
The analysis conducted in this case is systematic, highly organized, and adequately described. Besides, there is adequate discussion on the techniques employed in deriving themes, categories, and concepts from the data.
Conclusions
The conclusions provided in this research study are derived from the results as inferred from the data analyzed. The conclusions are also consistent with the results of the study, although it does not include any numerical analysis. However, the conclusions are consistent with the arguments developed in the main body. The alternative conclusions provided in this case are consistent with the results described and are adequately accounted for.
The conclusion does not provide adequate discussions on the theoretical and practical implications of the results. Furthermore, the limitations of the study in terms of parameters of the study and applicability of the findings are not considered. However, there is adequate discussion of the evidence for and against the researchers’ arguments. On the other hand, the conclusions do not include a clear distinction between the data and related interpretations. Overall, the article adequately handles the research question in terms of the arguments provided and the results generated. Careful implementation of the researcher’s findings can help in terms of reducing the level of risk tolerance in many construction organizations.
Results and Discussions
The paper entails analysis of the cohesion between the four investigations conducted earlier in addition to a consideration of the objectives and results of the four studies. In this way, the preliminary analysis contributes to development of a multiple-choice questionnaire and theory development. This was then followed by a pilot study, which led to development of a final questionnaire (Lyons & Skitmore, 2004, p. 52). The questionnaire was designed in such a way that it reflects the objectives of the previous studies in order to allow for comparison of the results of the four studies against the current research. Thus, there are clear indications that the contents of the questionnaire are significant to theoretical literature development.
Conclusions
The paper analyzes and emphasizes the need for handling hazardous-solid-wastes with all cautious and preliminary measures. The study is aimed at determining the limit or vulnerability-characteristics which are utilizable in assessing the level of groundwater-pollution as could be placed against harmful landfill-sites which are found over the surficial-aquifer. The study adopted the use of GOD-vulnerability-model in determining two significant vulnerable.
General Conclusion
This paper constitutes a review from selected academic papers in a selection that satisfies qualitative and quantitative content in a common ration. The paper is built from journals that have been studied carefully for the benefit of this write-up. The studies adopt a blind-peer-review strategy in effecting an appropriate analysis of studied journals.
Reference List
Andersen, A., Olsson, N., Onsoyen, L,. and Spjelkavik., I. 2011. Post-Project Changes: Occurrence, Causes, and Counter-Measures. International Journal of Managing Projects in Business, 4(2), pp.51-61.
Bowen. P., Cattell, K., Jay, I,. and Edwards, P. 2011. Value management in the South African manufacturing industry: exploratory findings. Management Decision, 49 (1), pp.6 – 28.
Gimpelevich, T., 2011. Simulation-based excess return model for real estate development: A practical Monte Carlo simulation-based method for quantitative risk management and project valuation for real estate development projects illustrated with a high-rise office development case study. Journal of Property Investment & Finance, 29 (2), pp.115 – 144.
Simsek C., Gemici U. and Filiz S., 2008. An assessment of surficial aquifer vulnerability and groundwater pollution from a hazardous landfill site, Torbali/Turkey. Geosciences Journal, 12(1), p. 69 – 82.