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Risk analysis plays a vital role in controlling and managing cost overruns in complex construction projects, particularly where uncertainty is high. This study attempts to address an important issue of cost overrun that encountered by metropolitan rapid transit projects in relation to the significance of risk involved under high uncertainty.

In order to solve cost overrun problems in metropolitan transit projects and facilitate the decision-makers for effective future budgeting, a cost-risk contingency framework has been designed using fuzzy logic, analytical hierarchy process and Monte Carlo simulation.

Initially, a hierarchical breakdown structure of important complexity-driven risk factors has been conceptualized herein using relative importance index. Later, a proposed cost-risk contingency framework has investigated the expected total construction cost in order to consider the additional budgeted cost required to mitigate the risk consequences for particular project activity. The results of cost-risk analysis imply that poor design issues, an increase in material prices and delays in relocating facilities show higher dependency and increase the risk of cost overrun in metropolitan transit projects.

The findings and implication for project managers could possibly be achieved by assuming the proposed cost-risk contingency framework under high uncertainty of cost found in this research. Furthermore, this procedure may be used by experts from other engineering domains by replacing and considering the complex relationship between complexity-risk factors.

This study contributes to the body of knowledge by providing a practical contingency model to identify and evaluate the additional risk cost required to compute total construction cost for getting stability in future budgeting.

Categorizing projects allows for better alignment of a portfolio with the organizational strategy and goals. An appropriate project categorization helps understand portfolio’s structure and enables proper project portfolio selection (PPS). In practice, project categorization is, however, conducted in intuitive approaches. Furthermore, little attention has been given to project categorization methods in the project management literature. The purpose of this paper is to provide researchers and practitioners with a data-driven project categorization process designed for PPS.

The suggested process was modeled considering the main characteristics of project categorization systems revealed from the literature. The clustering analysis is used as the core-computing technology, allowing for an empirically based categorization. This study also presents a real-world case study in the automotive industry to illustrate the proposed approach.

This study confirmed the potential of clustering analysis for a consistent project categorization. The most important attributes that influenced the project grouping have been identified including strategic and intrinsic features. The proposed approach helps increase the visibility of the portfolio’s structure and the comparability of its components.

There is a lack of research regarding project categorization methods, particularly for the purpose of PPS. A novel data-driven process is proposed to help mitigate the issues raised by prior researchers including the inconsistencies, ambiguities and multiple interpretations related to the taken-for-granted categories. The suggested approach is also expected to facilitate projects evaluation and prioritization within appropriate categories and contribute in PPS effectiveness.

sGiven the topics covered in the first 11 chapters, it seems a tall order to bring such a large number of topics into a cogent summary. Additionally, the book has introduced three distinct views of risk management – the traditional/technical view, enterprise risk management, and an alternative view that is yet-to-be-fully-articulated. The summary is further complicated by the challenges of managing in complex environments. Nevertheless, an effort should be expected.

Here, the framing of public organisation risk management in practice (which will be applicable to risk management in other public contexts), begins with setting sustainable resilience as the central organising idea. From this come several practical principles that will serve to contextualise a range of specific processes and actions that constitute risk management as understood in the book. This requires some consideration of operational issues – programme implementation tactics, defining particular roles, evaluating outcomes, embedding assessment and analysis, and implementing tools. However, it also discussed somewhat more philosophical issues like the development of ‘network schema’, leadership in complexity, and the twin ideas of innovation and adaptation. Recognising that effective risk management always depends on the particular organisation or situation, a general guide to practice is outlined here.

Buyer companies’ engagement with suppliers varies according to their specific business needs. Prior models of supplier classification are based on the dimensions like product specification or criticality of purchase. As the supply chains are embracing collaboration among partners to respond to the dynamic market conditions, it is prudent to study the changes adopted by buyer companies for supplier classification. The paper aims to discuss these issues.

This is an exploratory research for identifying the criteria used for supplier classification based on the interviews of practitioners from buyer multinational manufacturing companies operating in India. The content analysis of the subjective responses led to the identification of distinctive criteria.

Although, many of the practitioners were unaware of the model per se, they labelled their suppliers as per the types stated in the Kraljic model. They mentioned twenty six criteria for supplier classification; five of which do not have any reference in the extant literature. The degree of presence of these criteria provides a multi-criteria framework for supplier classification that has been further extended based on prior models.

The exploratory nature of the study, its confinement to Indian milieu and small sample size could limit the generality and exhaustiveness of the findings.

The framework and its extension can be used by practitioners in assessing and classifying their suppliers for strengthening supply chain collaboration.

This research unveils five new criteria used by buyer companies for supplier classification. The multi-criteria framework for supplier classification and its extension give new insights into the supplier characteristics significant for supply chain collaboration.

Systems thinking calls for a shift of our mindset from seeing just parts to seeing the whole reality in its structured dynamic unity and interconnectedness. Systems thinking fosters a sensibility to see subtle connections between components and parts of reality, especially the free enterprise capitalist system (FECS). It enables us to see ourselves as active participants or partners of FECS and not mere induced factors of its production–distribution–consumption processes. Systems thinking seeks to identify the economic “structures” that underlie complex situations in FECS that bring about high versus low leveraged changes. A system is strengthened and reinforced by feedback of reciprocal exchanges that makes the system alive, transparent, human, and humanizing.

In Part I, we explore basic laws or patterns of behaviors as understood by systems thinking; in Part II we examine the basic archetypes or structured behaviors of systems thinking; in both parts we strive to see reality through the lens of critical thinking to help us understand patterns and structures of behavior among systems and their component parts. In conclusion, we argue for compatibility and complementarity of critical thinking and systems thinking to identify and resolve management problems created by our flawed thinking, and sedimented by our wanton assumptions, presumptions, suppositions and presuppositions, biases, and prejudices. Such thinking will also identify unnecessary economic and political structures of the self-serving policies we create, which imprison us.

The purpose of this paper is to provide contrasting narratives of what the future of Asia Pacific tourism may look like, and to identify how current policy interventions and recommendations made for coronavirus disease 2019 (COVID-19) recovery shape the system's trajectory.

Drawing on a set of four possible futures emerging from COVID-19, tourism policy responses are analysed and a link to their potential contribution to the Sustainable Development Goals is made.

A system goal is presented for each scenario, and what this means for the tourism system. Existing policies indicate that tourism is moving towards a “Discipline” future, although evidence for all four trajectories could be identified. Whilst the “Transform” scenario is most aligned with a sustainable future, the findings highlight that sustainability outcomes are possible in the other scenarios as well, if risks are managed adequately.

The limitation is that the core structure of the four futures was not specifically developed for tourism. However, given that tourism is firmly embedded in national and global economies, this limitation is not material.

This paper supports decision-makers to develop adaptability in the face of great uncertainty and complexity. Risks and opportunities associated with each of the four tourism futures are identified, and examples are provided how sustainability outcomes can be maximised in each.

Sustainability is a safe and necessary strategy regardless of the trajectory to any of the four scenarios. The long-term health of the tourism system and anyone involved in it depends on significant progress along the Sustainable Development Goals.

This paper explores pathways for system change and how different COVID-19 policy approaches contribute to shaping the system's trajectory. It highlights the risks associated with certain trajectories, and also identifies how short-term recovery priorities might undermine long-term sustainability.

Properly allocating an organization's activities within a building is vital to reducing the relational complexity arising from process–environment interactions. Multiple relationships are mapped, and certain interferences are only identified after these have been processed. The method/software employed for this task is Mapping Activity Environment Allocation (MAEA). However, data input and interpretation of results depend on the usability conditions of the organization's agents. This paper presents MAEA's usability test results.

Test sessions and interviews were carried out with seven agents registered at a University Hospital. Participants were instructed to think aloud during its use, and immediately afterward, responded to semi-structured interviews. Test sessions were audio recorded and screen captured.

Participants found the software easy to use and pointed out valuable implications for professional and academic use. In addition to relationship, priority and parallelism data, customized visualizations were created, including organizational charts, flowcharts and activity flow routes on the floor plan.

MAEA's simplicity allows non-designers to conduct evidence-based assessments and decisions. It allows designers to test their proposals during the programming and outline proposal stages.

A more detailed definition of design requirements from the beginning increases the conditions to successfully achieve project goals.

The ability to map the allocation of activity-spaces in the pre-design phase of building architecture allows for early identification of interactions, aiding in the development of more robust project requirements during programming.

This study aims to enhance the success of Sponsored Institutional R&D Projects (SIRPs) by investigating the influence of risk dimensions over four criteria Cost overrun, Time overrun, Schedule overrun, and Quality of projects. The study identifies risk dimensions and prioritizes and explores causal relationships to guide risk mitigation strategies during project execution.

This study was conducted with qualitative data obtained through a systematic questionnaire from 10 domain experts associated with SIRPs. Through an extensive literature review, the study identifies the ten risk dimensions, Fuzzy TOPSIS was employed for prioritizing the explored risk dimensions and Fuzzy DEMATEL explored the qualitative causal relationships among these dimensions. The sensitivity analysis was conducted to validate the robustness of findings by adjusting the weightage assigned to experts.

The findings reveal financial risk as the highest ranked and business risk as the least influential among identified dimensions. The study also highlights management risk as the most significant, followed by business risk and sensitivity analysis concludes that the findings are robust, lacking significant judgment bias.

This study contributes to risk management strategies for SIRPs, to ensure timely completion within the allocated budget. The findings of the study can be implemented in other such SIRPs. The study also informs funding agencies' policies and project monitoring mechanisms and advancing project management practices

Its originality lies in being the first to systematically identify and prioritize risk dimensions, adding significant value to SIRP management and academic discourse on project management and risk analysis.

The purpose of this paper is to introduce a methodological approach to develop customized products which offer true customer value and achieve superior competitive advantage.

An integrated framework is presented where both front‐ and back‐end features of product development activities are illustrated. Detailed explanations of the framework participants are discussed with their specifications and view points that illustrate the value of the framework. This framework communicates between citarasa and do‐it‐yourself‐design configurators at the upstream, and available to promise, agile supply and demand network, advanced planning and scheduling systems in the downstream, in order to visualize the complete production scenarios and to maintain the flow of custom tailored product development.

It is hoped that the illustrated framework will bridge the gap between manufacturers, and customers in order to produce customer satisfied products that fulfill the business target in terms of earning more revenues.

This research work is based on a theoretical hypothesis. Although the proposed framework is implemented in a truck manufacturing company, it requires application in more industrial organizations in order to generalize its effectiveness, suitability, and consistency in the manufacturing arena.

This paper outlines the configuration principle, along with different tools and methodologies, which support manufacturing firms in the customization of products in both upstream and downstream activities in a profitable way. These tools or methodologies can help product developers to improve their due‐date promising, exploitation of bottlenecks, and the visualization of their capability to produce the customers' specific products.

Two major trends – demographic shifts in the working-age population, and the proliferation of web technologies – are having a profound and generally unrecognized effect on the nature and characteristics of work, and on opportunities for the mature workforce. Key features of the workplace point to seven broad work trends. These trends have significant implications for organizations and for older workers. Six interdependent organizational changes are central to the far-reaching effects on enterprises and operating approaches. These changing work characteristics require certain essential behaviors for mature workers to be successful in the contemporary work environment. Such a dynamic workplace provides opportunity to introduce new thinking and propose new models. Realigning organizational and workforce interests calls for developing solutions beyond the individual level, reorienting enterprise capabilities, and reframing of the organization development practitioner role as work ecosystem advisor. High-leverage strategies and systemic interventions, such as multiconstituent initiatives and action research, can be used to influence constructively the multifaceted world of work.