This research developed a process to improve the systematic deployment of best practices in unfamiliar countries in response to rapid globalization in the engineering and construction industry. The engineering and construction industry needs processes, metrics and tools to improve the deployment of best practices in unfamiliar countries to help facilitate project success, as new challenges are encountered. The research identified issues that are commonly encountered when deploying best practices in unfamiliar countries. The issues were identified using content analysis and verified by experts using the Delphi Method. The Analytic Hierarchy Process was used to establish weightings for the importance of each issue. The weightings were then used to create a scoring metric for companies to measure their readiness for projects. In order to overcome the issues identified in the research, a series of processes and mitigation strategies to overcome the issues were developed, through a series of interviews and focus groups. The International Readiness Passport (IRP) is a tool created to support the use of the metric and the mitigation strategies. This tool utilizes a self-scoring section which is applied to the metric. The tool then generates a report with the relevant mitigation strategies related to each issue, based on the score. To ensure that the IRP provides a meaningful benefit to the systematic deployment of best practices in unfamiliar countries, it was validated through a series of retrospective tests. These tests have confirmed the accuracy and relevance of the process, metric, and tool, as well as the tool\'s capabilities. / Master of Science

SFAS No. 52, Foreign Currency Translation, was issued in December, 1981, replacing SFAS No. 8, Accounting For the Translation of Foreign Currency Transactions and Foreign Currency Financial Statements. SFAS No. 52 has shifted the impact of translation gains and losses from the income statement to the balance sheet. It was expected that SFAS No. 52 would eliminate the incentive for multinationals to engage in various hedging activities to reduce the effect of the translation process in reported earnings. It was also expected that multinationals would change their foreign exchange risk management practices. The major purpose of this study was to investigate the effect of SFAS No. 52 on foreign exchange risk management practices of U.S. based multinationals.