<p> Construction materials cost estimation is considered one of the most important tasks in the development of project budget. Using material hedging to mitigate the risk of material price volatility is a new concept for construction companies.</p><p> This thesis matched material hedging with the fuel hedging application utilized by airlines. The weather hedging process was used as a precedent for material hedging application in the construction industry. This thesis developed a model to provide a step by step guidance to apply material hedging in the construction industry. Further, this thesis matched its model with the model presented by Macdonald (2013) and provided a lower level of detail to support actual implementation of material hedging.</p><p> Future work in this area could be the investigation of material hedging cost to decide if the hedging application is feasible. Also, validity and reliability of the model presented by this thesis should be investigated. </p>

Service-orientation and the underlying concept of service-oriented architectures are a means to successfully address the need for flexibility and interoperability of software applications, which in turn leads to improved IT support of business processes. With a growing level of diffusion, sophistication and maturity, the number of services and interdependencies is gradually rising. This increasingly requires companies to implement a systematic management of services along their entire lifecycle. Service lifecycle management (SLM), i.e., the management of services from the initiating idea to their disposal, is becoming a crucial success factor. Not surprisingly, the academic and practice communities increasingly postulate comprehensive IT support for SLM to counteract the inherent complexity. The topic is still in its infancy, with no comprehensive models available that help evaluating and designing IT support in SLM. This thesis presents a reference architecture for SLM and applies it to the evaluation and designing of SLM IT support in companies. The artifact, which largely resulted from consortium research efforts, draws from an extensive analysis of existing SLM applications, case studies, focus group discussions, bilateral interviews and existing literature. Formal procedure models and a configuration terminology allow adapting and applying the reference architecture to a company’s individual setting. Corresponding usage examples prove its applicability and demonstrate the arising benefits within various SLM IT support design and evaluation tasks. A statistical analysis of the knowledge embodied within the reference data leads to novel, highly significant findings. For example, contemporary standard applications do not yet emphasize the lifecycle concept but rather tend to focus on small parts of the lifecycle, especially on service operation. This forces user companies either into a best-of-breed or a custom-development strategy if they are to implement integrated IT support for their SLM activities. SLM software vendors and internal software development units need to undergo a paradigm shift in order to better reflect the numerous interdependencies and increasing intertwining within services’ lifecycles. The SLM architecture is a first step towards achieving this goal.

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Service-orientation and the underlying concept of service-oriented architectures are a means to successfully address the need for flexibility and interoperability of software applications, which in turn leads to improved IT support of business processes. With a growing level of diffusion, sophistication and maturity, the number of services and interdependencies is gradually rising. This increasingly requires companies to implement a systematic management of services along their entire lifecycle. Service lifecycle management (SLM), i.e., the management of services from the initiating idea to their disposal, is becoming a crucial success factor. Not surprisingly, the academic and practice communities increasingly postulate comprehensive IT support for SLM to counteract the inherent complexity. The topic is still in its infancy, with no comprehensive models available that help evaluating and designing IT support in SLM. This thesis presents a reference architecture for SLM and applies it to the evaluation and designing of SLM IT support in companies. The artifact, which largely resulted from consortium research efforts, draws from an extensive analysis of existing SLM applications, case studies, focus group discussions, bilateral interviews and existing literature. Formal procedure models and a configuration terminology allow adapting and applying the reference architecture to a company’s individual setting. Corresponding usage examples prove its applicability and demonstrate the arising benefits within various SLM IT support design and evaluation tasks. A statistical analysis of the knowledge embodied within the reference data leads to novel, highly significant findings. For example, contemporary standard applications do not yet emphasize the lifecycle concept but rather tend to focus on small parts of the lifecycle, especially on service operation. This forces user companies either into a best-of-breed or a custom-development strategy if they are to implement integrated IT support for their SLM activities. SLM software vendors and internal software development units need to undergo a paradigm shift in order to better reflect the numerous interdependencies and increasing intertwining within services’ lifecycles. The SLM architecture is a first step towards achieving this goal.:Content Overview List of Figures....................................................................................... xi List of Tables ...................................................................................... xiv List of Abbreviations.......................................................................xviii 1 Introduction .................................................................................... 1 2 Foundations ................................................................................... 13 3 Architecture Structure and Strategy Layer .............................. 57 4 Process Layer ................................................................................ 75 5 Information Systems Layer ....................................................... 103 6 Architecture Application and Extension ................................. 137 7 Results, Evaluation and Outlook .............................................. 195 Appendix ..........................................................................................203 References .......................................................................................... 463 Curriculum Vitae.............................................................................. 498 Bibliographic Data............................................................................ 499