Uncertainty

The implementation of the Norwegian Governmental Project Risk Assessment scheme

The implementation of the Norwegian Governmental Project Risk Assessment scheme

This entry is part 1 of 2 in the series The Norwegian Governmental Project Risk Assessment Scheme

Based on these findings it is pertinent to ask what went wrong in the implementation of QA2. The idea is sound, but the result is somewhat disappointing.

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Project Management under Uncertainty

Project Management under Uncertainty

The objectives of the project scheduling are to determine the earliest start and finish of each task in the project.

The aim is to be able to complete the project as early as possible and to calculate the likelihood that the project will be completed within a certain time frame.

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Distinguish between events and estimates

Distinguish between events and estimates

This entry is part 1 of 2 in the series Handling Events

Large public sector investment projects in Norway have to go through an established methodology for quality assurance.

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Working Capital Strategy Revisited

Working Capital Strategy Revisited

This entry is part 3 of 3 in the series Working Capital

As levers of financial performance, none is more important than working capital. The viability of every business activity rests on daily changes in receivables, inventory, and payables …

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Inventory management – Stochastic supply

Inventory management – Stochastic supply

This entry is part 4 of 4 in the series Predictive Analytics

The introduction of uncertain supply has shown that profit can still be maximized however the profit will be reduced by increased costs both in lost sales and in excess inventory. But most important, profit variability will increase raising issues of possible other strategies.

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Inventory management – Some effects of risk pooling

Inventory management – Some effects of risk pooling

This entry is part 3 of 4 in the series Predictive Analytics

We have thus shown through Monte-Carlo simulations, that the benefits of pooling will increase with the number of locations and that the benefits of risk pooling can be calculated without knowing the closed form of the demand distribution.

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