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This article aims to establish a dynamic Energy Performance Contract (EPC) risk allocation model for commercial buildings based on the theory of Incomplete Contract. The purpose is to fill the policy vacuum and allow stakeholders to manage risks in energy conservation management by EPCs to better adapt to climate change in the building sector.

The article chooses a qualitative research approach to depict the whole risk allocation picture of EPC projects and establish a dynamic EPC risk allocation model for commercial buildings in China. It starts with a comprehensive literature review on risks of EPCs. By modifying the theory of Incomplete Contract and adopting the so-called bow-tie model, a theoretical EPC risk allocation model is developed and verified by interview results. By discussing its application in the commercial building sector in China, an operational EPC three-stage risk allocation model is developed.

This study points out the contract incompleteness of the risk allocation for EPC projects and offered an operational method to guide practice. The reasonable risk allocation between building owners and Energy Service Companies can realize their bilateral targets on commercial building energy-saving benefits, which makes EPC more attractive for energy conservation.

Existing research focused mainly on static risk allocation. Less research was directed to the phased and dynamic risk allocation. This study developed a theoretical three-stage EPC risk allocation model, which provided the theoretical support for dynamic EPC risk allocation of EPC projects. By addressing the contract incompleteness of the risk allocation, an operational method is developed. This is a new approach to allocate risks for EPC projects in a dynamic and staged way.

This study attempts to conduct a comparative analysis between dynamic and static asset allocation to achieve the long-term target return on asset liability management (ALM). This study conducts asset allocation using the ex ante expected rate of return through the outlook of future economic indicators because past economic indicators or realized rate of returns which are used as input data for expected rate of returns in the “building block” method, most adopted by domestic pension funds, does not fully reflect the future economic situation. Vector autoregression is used to estimate and forecast long-term interest rates. Furthermore, it is applied to gross domestic product and consumer price index estimation because it is widely used in financial time series data. Based on asset allocation simulations, this study derived the following insights: first, economic indicator filtering and upper-lower bound computation is needed to reduce the expected return volatility. Second, to reach the ALM goal, more stocks should be allocated than low-yielding assets. Finally, dynamic asset allocation which has been mirroring economic changes actively has a higher annual yield and risk-adjusted return than static asset allocation.

This study aims to empirically analyze the asset allocation capabilities of Outsourced Chief Investment Officers (OCIOs) in Korea. The empirical analysis used data from 35 funds that were evaluated by the Ministry of Strategy and Finance from 2012 to 2020. The results of the analysis are summarized as follows. First, this study found that funds that adopted OCIO improved their asset allocation performance. Second, the sensitivity between risk-taking and performance decreased for funds that adopted OCIO. Third, it is found that OCIO adoption improves a fund's asset management execution (tactical capabilities). This study has methodological limitations in which the methodology used in this study is not based on theoretical prior research, but on practical applications. However, considering the need to clearly analyze the capabilities of OCIO and the timeliness of the topic, this study is valuable and can provide meaningful information to funders who are considering adopting OCIO in the future.

Different from manufacturing resources allocation problems, the prices and amounts of limited public service resources could not be changed with the consumers’ requirements and social fairness is the most important objective for improving allocation efficiency. To measure social fairness reasonably, the purpose of this paper is fourfold: first, divide social fairness into longitudinal comparative fairness and crosswise comparative fairness, therefore providing their calculation formula and describing the comprehensive fair degree by using the interval numbers. Second, the comparison regulations of interval numbers are given and the corresponding features are also described. Third, an extension of VIKOR method is put forward for evaluating social fairness of different allocation alternatives with interval numbers. Finally, a numerical example illustrates the proposed method and clarifies the main results developed in the paper.

In this paper, the author depicts the social fair degree as an interval number, and thus proposes the comparison method between any two interval numbers. Based on the basis procedure of the VIKOR method, the paper proposes an extension of the fuzzy VIKOR method with the interval numbers to rank and select the compromise allocation alternatives. Finally, a numerical example illustrates the practicability of the proposed method.

The comparison of interval numbers is very important when the author evaluates the decision alternatives. Through analyzing the present comparison methods, the paper proposes the simple method of comparing the interval numbers, which can obtain the same results with the above two methods. The fuzzy VIKOR method, a popular multi-criteria decision-making method, focusses on ranking and selecting from a set of alternatives in a fuzzy environment. For the fuzzy value, the paper also proposes the extension of the VIKOR method to perform an evaluation and get the compromise alternatives.

According to the huge customers’ requirement, how to improve their social fair degree has become the focus in public service resources allocation, where the social fair degree may be a comprehensive concept which includes the fair degree compared with all the other allocation alternatives and the fair degree compared with the other small group under the same allocation alternative. In the paper, the author defines the above two types of fair degree and then depicts the comprehensive fair degree as their integration, which will be interval numbers.

The choice of crops to produce at a location depends to a large degree on the climate. As the climate changes and food demand evolves, farmers may need to produce a different mix of crops. This study assesses how much cropland may be subject to such upheavals at the global scale, and then focuses on China as a case study to examine how spatial heterogeneity informs different contexts for adaptation within a country.

A global agricultural economic model is linked to a cropland allocation algorithm to generate maps of cropland distribution under historical and future conditions. The mix of crops at each location is examined to determine whether it is likely to experience a major shift.

Two-thirds of rainfed cropland and half of irrigated cropland are likely to experience substantial upheaval of some kind.

This analysis helps establish a global context for the local changes that producers might face under future climate and socioeconomic changes. The scale of the challenge means that the agricultural sector needs to prepare for these widespread and diverse upheavals.

There is growing recognition that effective project control systems (PCS) are critical to the success of projects. The relationship between the individual elements of PCS and successfully achieving project objectives has yet to be explored. This research investigates the enablers and barriers that influence the elements of PCS success and drive project objectives.

This study adopts a mixed approach of descriptive analysis and regression models to explore the impact of six PCS elements on project outcomes. Petroleum and chemical projects in Saudi Arabia were selected as a case study to validate the research model.

Data from a survey of 400 project managers in Saudi’s petroleum and chemical industry reveal that successful PCS are the key to achieving all project outcomes, but they are particularly critical for meeting project cost objectives. Project Governance was identified as the most important of the six PCS elements for meeting project objectives. A lack of standard processes emerged as the most significant barrier to achieving effective project governance, while having skilled and experienced project team members was the most significant enabler for implementing earned value.

The study offers a direction for implementing and developing PCS as a strategic tool and focuses on the PCS elements that can improve project outcomes.

This research contributes to project management knowledge and differs from previous attempts in two ways. Firstly, it investigates the elements of PCS that are critical to achieving project scope, schedule and cost objectives; secondly, enablers and barriers of PCS success are examined to see how they influence each element independently.

Logistical facility location decisions can make a crucial difference in the success or failure of a company. Geographical Information Systems (GIS) have recently become a very popular decision support system to help deal with facility location problems. However, until recently, GIS methodologies have not been fully embraced as a way to deal with new facility location problems in business logistics. This research makes a framework for categorizing empirical facility location problems based on the intensity of the involvement of GIS methodologies in decision making. This framework was built by analyzing facility location models and GIS methodologies. The research results revealed the depth of the embracement of GIS methodologies in logistics for determining new facility location decisions. In the new facility location decisions, spatial data inputs are almost always coupled with the visualization of the problems and solutions. However, the usage of GIS capability solely (i.e. suitability analysis) for problem solving has not been embraced at the same level. In most cases, the suitability analysis is used together with special optimization models for choosing among the multiple alternatives.

This paper aims to introduce an information and communication technology (ICT) artifact that uses text mining to support the innovative and standardized assessment of professional competences within the validation of prior learning (VPL). Assessment means comparing identified and documented professional competences against a standard or reference point. The designed artifact is evaluated by matching a set of curriculum vitae (CV) scraped from LinkedIn against a comprehensive model of professional competence.

A design science approach informed the development and evaluation of the ICT artifact presented in this paper.

A proof of concept shows that the ICT artifact can support assessors within the validation of prior learning procedure. Rather the output of such an ICT artifact can be used to structure documentation in the validation process.

Evaluating the artifact shows that ICT support to assess documented learning outcomes is a promising endeavor but remains a challenge. Further research should work on standardized ways to document professional competences, ICT artifacts capture the semantic content of documents, and refine ontologies of theoretical models of professional competences.

Text mining methods to assess professional competences rely on large bodies of textual data, and thus a thoroughly built and large portfolio is necessary as input for this ICT artifact.

Following the recent call of European policymakers to develop standardized and ICT-based approaches for the assessment of professional competences, an ICT artifact that supports the automatized assessment of professional competences within the validation of prior learning is designed and evaluated.

Disaster management and humanitarian logistics (HT) play crucial roles in large-scale events such as earthquakes, floods, hurricanes and tsunamis. Well-organized disaster response is crucial for effectively managing medical centres, staff allocation and casualty distribution during emergencies. To address this issue, this study aims to introduce a multi-objective stochastic programming model to enhance disaster preparedness and response, focusing on the critical first 72 h after earthquakes. The purpose is to optimize the allocation of resources, temporary medical centres and medical staff to save lives effectively.

This study uses stochastic programming-based dynamic modelling and a discrete-time Markov Chain to address uncertainty. The model considers potential road and hospital damage and distance limits and introduces an a-reliability level for untreated casualties. It divides the initial 72 h into four periods to capture earthquake dynamics.

Using a real case study in Istanbul’s Kartal district, the model’s effectiveness is demonstrated for earthquake scenarios. Key insights include optimal medical centre locations, required capacities, necessary medical staff and casualty allocation strategies, all vital for efficient disaster response within the critical first 72 h.

This study innovates by integrating stochastic programming and dynamic modelling to tackle post-disaster medical response. The use of a Markov Chain for uncertain health conditions and focus on the immediate aftermath of earthquakes offer practical value. By optimizing resource allocation amid uncertainties, the study contributes significantly to disaster management and HT research.

This paper focuses on multi-objective order allocation with product substitution for the vaccine supply chain under uncertainty.

The weighted-sum minimization approach is used to find a compromised solution between three objectives of minimizing inefficiently vaccinated people, postponed vaccinations, and purchasing costs. A mixed-integer formulation with substitution quantities is proposed, subject to capacity and demand constraints. The substitution ratios between vaccines are assumed to be exogenous. Besides, uncertainty in supplier reliability is formulated using optimistic, most likely, and pessimistic scenarios in the proposed optimization model.

Covid-19 vaccine supply chain process is studied for one government and three vaccine suppliers as an illustrative example. The results provide essential insights for the governments to have proper vaccine allocation and support governments to manage the Covid-19 pandemic.

This paper considers the minimization of postponement in vaccination plans and inefficient vaccination and purchasing costs for order allocation among different vaccine types. To the best of the authors’ knowledge, there is no study in the literature on order allocation of vaccine types with substitution. The analytical hierarchy process structure of the Covid-19 pandemic also contributes to the literature.