This research involves review of value analysis and value engineering techniques and application of these techniques to a service organization. Application of value analysis techniques to service organizations required some modification due to the amount of labor intensive, manual operations typical of many service industries. The modified value analysis methodology was applied to a fueling operation performed by Kennedy Space Center as part of their space shuttle operations. The successful application of this technique illustrated that value analysis methodology can be applied to service organizations with slight modifications.

The peaks over threshold (POT) method provides an attractive framework for estimating the risk of extreme events such as severe storms or large insurance claims. However, the conventional POT procedure, where the threshold excesses are modelled by a generalized Pareto distribution, suffers from small samples and subjective threshold selection. In recent years, two alternative approaches have been proposed in the form of mixture models that estimate the threshold and a folding procedure that generates larger tail samples. In this paper the empirical performances of the conventional POT procedure, the folding procedure and a mixture model are compared by modelling data sets on fire insurance claims and hurricane damage costs. The results show that the folding procedure gives smaller standard errors of the parameter estimates and in some cases more stable quantile estimates than the conventional POT procedure. The mixture model estimates are dependent on the starting values in the numerical maximum likelihood estimation, and are therefore difficult to compare with those from the other procedures. The conclusion is that none of the procedures is overall better than the others but that there are situations where one method may be preferred.

Thesis (MBA)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: Rapid urbanisation, coupled with growing per capita incomes and a rapid rising middle class, is triggering rapid growth in urban food markets. Despite these opportunities, agriculture in South Africa is confronted with diminishing profit margins due to direct production cost increasing at rates above the revenue generated from agricultural products. This research assignment has aimed to define the attributes of an effective agricultural value chain in South Africa, given the challenges faced. To achieve this goal, the research focus was on the results of an in-depth analysis of the Dutoit Group’s deciduous fruit value chain. To be able to perform a value chain analysis it is of utmost importance to first understand the meaning of the concepts as well as their origin and the evolution of their application. This is achieved through a comprehensive study of literature. Three value chain analysis tools were used for the research. These tools were an industry analysis, value chain maps and benchmarking. Through the literature review the importance and relevance of these three tools were also explored and reasons provided why they can be regarded to be adequate for a proper in-depth analysis. An overview of the Dutoit Group’s history, focusing on the specific key events influencing the evolution of their value chains, is also discussed together with their business philosophy, business model and main accomplishments. This is done to provide context to the environment in which the value chain analysis process was performed. The main focus of the fourth chapter is the application of the three value chain analysis tools on the Dutoit Group’s deciduous fruit value chain, utilising primary and secondary data collected through interviews with specific value chain actors, observations, management information and literature obtained from the public domain. Through the application of the three value chain analysis tools the effectiveness of the Dutoit Group’s deciduous fruit value chain was evaluated, and strengths and weaknesses identified. The research results showed that the Dutoit Group’s internal deciduous fruit value chain has been effective in addressing the risk of diminishing profit margins. In addition the results showed that the key attributes of an effective value chain which are able to address the current challenges are defined as effective integration, strong relationships between value chain actors, high levels of productivity and strong leadership.

The crude oil, natural gas, and electricity markets are among the most widely traded and talked about commodity markets across the world. Over the past two decades each commodity has seen price volatility due to political, economic, social, and technological reasons. With that comes a significant amount of risk that both corporations and governments must account for to ensure expected cash flows and to minimize losses. This thesis analyzes the portfolio risk of the major US commodity hubs for crude oil, natural gas and electricity by applying Extreme Value Theory to historical daily price returns between 2003 and 2013. The risk measures used to analyze risk are Value-at-Risk and Expected Shortfall, with these estimated by fitting the Generalized Pareto Distribution to the data using the peak-over-threshold method. We consider both the univariate and bivariate cases in order to determine the effects that price shocks within and across commodities will have in a mixed portfolio. The results show that electricity is the most volatile, and therefore most risky, commodity of the three markets considered for both positive and negative returns. In addition, we find that the univariate and bivariate results are statistically indistinguishable, leading to the conclusion that for the three markets analyzed during this period, price shocks in one commodity does not directly impact the volatility of another commodity’s price. / Graduate

Studien som har genomförts utgör en analys av vad byggentreprenörer värdesätter hos underentreprenörer i processen från utlysning till utfört arbete. Syftet med studien är att genom intervjuer av byggentreprenörer få kunskap om vad de värdesätter hos underentreprenörer under hela processen. På så sätt kan underentreprenörer få vetskap om förbättringsmöjligheter i processen. En kvalitativ undersökning har genomförts i vilken sekundärdata har samlats in genom vetenskapliga artiklar och böcker och primärdata har samlats in genom intervjuer med åtta byggentreprenörer. En semistrukturerad intervjumall har tagits fram där intervjuarna kan ställa följdfrågor och intervjupersonerna får möjlighet att reflektera. Intervjumallen är utformad utifrån studiens syfte och fakta avseende byggindustrins marknad som har samlats in genom vetenskapliga artiklar. Intervjuerna har påvisat olika faktorer och aktiviteter som är värdeskapande i processen. Då byggentreprenörer väljer vilka underentreprenörer de ska lämna anbudsförfrågan till är det främst relationen som är viktig. Relationen påverkas av personkemi och tidigare erfarenheter av samarbete och kvalitet. Vid hög konkurrens blir priset en viktigare faktor, då lämnar byggentreprenörer anbudsförfrågan till fler underentreprenörer för att få ett så lågt anbud som möjligt. Anbudet bör vara tydligt utformat där det framgår vad underentreprenören har räknat på. Många byggentreprenörer anser det värdeskapande att underentreprenörer utnyttjar den spetskompetens de besitter och kommer med förbättringsförslag i anbudet. Förslaget kan gynna alla parter i kedjan; beställare, byggentreprenör och underentreprenör. Då byggentreprenörer väljer vilken underentreprenör de ska anställa är priset alltid en betydande faktor. Dock är priset inte alltid avgörande. Hur samarbetet har fungerat i tidigare projekt kan vara minst lika viktigt, om inte viktigare. I produktionsfasen värdesätts kommunikation. Genom god kommunikation mellan inblandade parter kan missförstånd minskas och processer effektiviseras. På så sätt kan underentreprenörer leverera rätt kvalitet i rätt tid och till rätt pris. Engagemang, tillgänglighet, information och återkoppling är värdeskapande i hela processen. Genom att rapportera direkt vid förändringar kan hela projektet förbättras då onödiga kostnader kan undvikas. Vid avslut bör alla dokument lämnas in och utbildningar av hur installationen ska hanteras göras inom avsatt tid. / The purpose of the study is to find out what subcontractors can do to increase customer value in the process from announcement to delivered service. The customer in this study is the building contractor. By giving subcontractors the knowledge of how to improve their process, improvements for the construction industry in general can be made. The study is based on information from interviews with eight building contractors and information from scientific articles. Interviews have claimed that several factors and activities can create customer value. The relation between building- and subcontractors is a significant factor when building contractors choose who they will send an offer request to. In a competitive position the price is more important. In that case the building contractors will send out offer requests to a bigger number of subcontractors, to get the lowest bid possible. The bid should be clearly presented and show what is included. Most building contractors value when subcontractors exploit their expertise and propose improvements in the bid. The proposition could benefit all parties in the supply chain; the client, the building contractor and the subcontractor. The price is always a significant factor but interviews has claimed that it is not always crucial. Experiences of cooperation with the subcontractor in earlier project has proved to be as important. In production communication is important. Through good communication between all parties in a project misunderstandings can be reduced and processes improved. Commitment, accessibility, information and feedback are factors that is important through the entire process from announcement to delivered service. By reporting directly to any changes, the entire project is improved and unnecessary costs can be avoided. Upon completion of a project all documents must be submitted in time.

Electronic Commerce (EC) companies are faced with a highly competitive environment today. Strengthening user engagement in digital ecosystems is a promising approach to increasing value co-creation. However, enterprise-oriented user engagement strategies examined in previous studies are relatively inadequate to meet today’s expectations. This paper looks to answer the question, “how to effectively strengthen user engagement to acquire a sustainable value co-creation system in EC.” A plausible user engagement strategy was revealed by analyzing a single case study in the music sector based on details of a digital ecosystem. Semi-structured interviews performed with company Xiami along with their users, show that the recognition of user-oriented needs and the expansion of user-driven demands are two key aspects for EC companies to maintain a sustainable growth of value co-creation.

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Este trabalho partiu da percepção de que a transferência de tecnologia das universidades para o setor produtivo pode ser mais intensa e eficaz no Brasil. Em primeiro lugar, defende-se a importância desse processo, levantando os benefícios que podem ser gerados a todos os envolvidos, direta e indiretamente, e também as barreiras que impedem esse tipo de parceria. Exemplos brasileiros e estrangeiros são utilizados para ilustrar as possibilidades. A revisão bibliográfica inclui ainda um levantamento de fatores de sucesso, e um breve estudo das atribuições do Escritório de Transferência de Tecnologia, mecanismo bastante utilizado para fomentar o processo. Pelo lado prático, este trabalho utiliza o princípio da análise de valor, a abordagem funcional para partir de 3 casos de parcerias de sucesso e traçar um modelo genérico da transferência de tecnologia, que mostre as funções essenciais ao sucesso desse processo. Esse modelo, por não ser específico de uma ou outra situação, pode ser aplicado a outros casos para auxiliar a encontrar falhas, ou seja, funções que não são adequadamente cumpridas, e concentrar esforços para melhorias. / This work started from a perception that the level and effectiveness of technology transfer from universities to industry can be increased in Brazil. First, the importance of this process is highlighted, bringing up the potential benefits to all parties involved, directly and indirectly, and also the barriers posed to this kind of partnership. The possibilities are illustrated by examples, Brazilian and foreign as well. The review also includes the success factors, and a brief analysis of the Technology Transfer Office, which is very common as a means to improve the process. On the practical side, this work uses the base principle of the value analysis, the functional approach to take off from 3 successful partnerships and develop a generic model of the technology transfer, showing the essential functions to the success of this process. Since this model is not specific to any situation, it can be applied to other cases to help find flaws, that is, functions that are not adequately met, and then focus the efforts dedicated to improve the process.

Thesis (MTech (Business Administration in Project Management))--Cape Peninsula University of Technology, 2019. / There is a need to draw a balance between satisfying needs, be they of the customer or the beneficiaries of the project, and that of maximising the utilisation of resources. Value management seeks to merge all aspects of the project process, and to find a balance between satisfaction of the project‟s needs and the stakeholder‟s interests. This technique is meant to improve the reconciliation and value of differing judgements and priorities to improve on the deliverables of the project. Consequently, the principles of defining and adding measurable value focuses on reaching the objectives, and finding solutions to problems before they appear. Therefore, the end results become an innovative way of integrating all operational activities, which enhance pre-emptive, risk aversive management. Value management is considered as a critical aspect in the effective management of project processes to reduce the high project failure rate in the construction industry. Part of the purpose of this study is to bring about awareness and knowledge of the effective use of the value management tool. This empirical research focused on project managers and other project practitioners who are tasked with the execution of project processes. A total of 125 respondents was drawn from the sampling frame. A structured questionnaire was used for the purpose, and collected data was captured and analysed, using the SPSS tool and an Excel spreadsheet. Relationships in the illustrations were interpreted and presented, forming the basis on which findings, conclusion and recommendations were made. A questionnaire has structured closed-ended questions (quantitative) and open-ended questions (qualitative) to complement each other. A mixed method approach (qualitative and quantitative) was applied to take advantage of the benefits of these two methods. The qualitative research applied a content analysis of the collected data.

Este trabalho teve como principal objetivo a investigação empírica da validade da teoria de estrutura de capital e do modelo estrutural de crédito que defendem os fatores - benefício tributário e custo de falência - como determinantes da estrutura ótima de capital e da decisão pela liquidação da empresa. Para isso, examinou-se se o nível mínimo de ativos, denominado Ponto de Inadimplência, maximiza o valor de mercado patrimonial e, portanto maximiza a riqueza do acionista. Os resultados são favoráveis aos modelos tradeoff e de decisão de liquidação da empresa, pois o Ponto de Inadimplência Ótimo, aquele otimiza o valor de mercado patrimonial, é muito próximo ao Ponto de Inadimplência Empírico, que aproxima as probabilidades estimadas às taxas históricas de inadimplência. Complementarmente, o trabalho verificou: (i) se a relação entre Ponto de Inadimplência Empírico e volatilidade, alavancagem, rentabilidade e oportunidade de investimento é consistente com a teoria de estrutura de capital e (ii) se a função de primeira passagem no tempo é eficiente para estimar probabilidade de inadimplência. Foram obtidas fortes evidências da relação negativa entre Ponto de Inadimplência e volatilidade dos ativos e relação positiva entre Ponto de Inadimplência e alavancagem, consistente com a teoria de estrutura de capital. Finalmente, a função de primeira passagem no tempo parece ser razoavelmente eficiente para estimar probabilidade de inadimplência para os prazos de um até 20 anos. / This research examines two theories: capital structure and credit structural model that are based on two factors: tax benefit and default costs, as determinants of optimal capital structure and default decision. The model examined if the estimated default-triggering value was the one that maximized net worth market value and the results are consistent with shareholder value maximization. Additionally, this thesis examined if relation between default-triggering point and asset volatility, financial leverage, earnings and investment opportunities are consistent with capital structure theory and the results shows statistically strong evidences in favor to that theory. Finally, this research implemented the first-passage density function to estimate default probability and it seams reasonable efficient when comparing the estimated probability from one to 20 years to the historical default frequency for the respect term.