Risk management framework
The objective of this research is to investigate the area of risk management. This paper suggests a theoretical outline that utilizes knowledge management methods to expand its usefulness range and upsurge the possibility of success in advanced IT plans (Alhawari et al. 2012). The paper develops ideas concerning the employment of knowledge management processes in risk management processes by studying, rendering the associated and pertinent literature and dwells on the incorporation of risk management processes in the IT project. The paper reveals some relevant fundamentals required for elaborating the knowledge-based risk management agenda for IT projects and correspondingly mentions some tools designed to improve the risk response preparation procedure effectiveness.
Consistency-based life-cycle multi-target optimization outline
The engineers’ ability to model, examine, project, preserve, monitor, foresee, and enhance the life-cycle efficacy of structures and substructures under hesitation is recurrently rising. Nevertheless, in numerous countries, together with the US, the public infrastructure is not within anticipated ranges of performance and security (Frangopol 2011). The verdicts concerning civil substructure organizations should be maintained by a cohesive consistency-based life-cycle multi-target optimization outline. The key purpose of Frangopol’s (2011) paper is to highlight current events in the life-cycle performance evaluation, preservation, observation, setup, and optimization of organizational systems under hesitation.
LCA and electricity generation technologies
Electricity production is the main supplier of worldwide discharges of greenhouse gasses and their associated ecological influence. A critical appraisal of numerous case studies concerning the life cycle assessment of electrical energy generation based on natural gas, hard coal, nuclear-powered means, hydroelectric stations, oil, and much more was conducted to recognize the ranges of discharge evidence for greenhouse gasses connected to specific technologies (Turconi, Boldrin & Astrup 2013). Turconi, Boldrin, and Astrup’s review proves that the inconsistency of the current LCA outcomes for electrical energy generation can induce quite a few contradictory decisions concerning the ecological consequences of employing these innovative technologies.
Risk management and project success
This article scrutinizes the efficiency of existing risk management methods to decrease project risk utilizing an international, multi-business study across diverse situations and beliefs. A poll was transferred to 700 managers and their superintendents. The outcomes of this research demonstrate that project background pointedly influences the alleged extents of project risk and the strength of risk management procedures (Zwikael & Ahn 2010). Zwikael and Ahn’s discoveries also state that risk management controls the relationship between the risk and project proficiency. They found that even the lowest levels of risk management forecasting are enough to decrease the adverse impact risk levels have on the project.
Integration framework
The necessity of mixing commercial and practical information structures, permitting associates to join forces efficiently in generating pioneering products, has inspired the design and distribution of a different integration framework for lifecycle management. The current situation is suitable for this integration framework due to the conjunction of three significant changes. First, the maturity of homogeneous merchandise data and meta-data representations, and consistent engineering and occupational procedures. Second, the development of a service-focused architecture for data distribution. Third, the accessibility of efficient middleware to employ them (Srinivasan 2011). These aspects permit manufacturing and corporate objects and procedures to be designed as integrated parts of the software. It is explicitly stated that these parts can interconnect and be utilized across diverse fragments of a business.
Life cycle assessment
Life cycle influence evaluation is a field of dynamic growth. During the last ten years, numerous productive articles dwelling on the new impact assessment methods have been published. They cover many dissimilar influence cohorts and provide classification aspects that habitually diverge from each other for the identical matter and effect (Hauschild et al. 2012). The life cycle ISO 14044 is moderately universal and indistinct in its necessities and suggests little help to the life cycle assessment manager who is on the verge of making a choice. Hauschild et al. conducted the research with the aim of detecting the greatest among the present-day classification representations and providing recommendations to the life cycle assessment managers.
Life cycle of engineered nanomaterials
Engineered nanomaterials are currently turning into a noteworthy segment of the material trade in the worldwide economy. As engineered nanomaterials saturate the international economy, nevertheless, it turns out to be vital to recognize their ecological implications (Keller et al. 2013). While there are substantial doubts in the estimations, the outline for approximating emissions can be effortlessly enhanced as better evidence becomes accessible. The material trade estimations can be exploited to measure the ejections at the local level as a means of conveying the representations. This is also done in order to evaluate the concentrations in diverse ecological sections (Keller et al. 2013).
Life cycle cost analysis
In spite of the fact that it encompasses a project period of two decades for flexible roadways, the Portuguese guide of roadway constructions stresses the significance of extending the life cycle cost investigation to a period that is equal to or longer than four decades. This interval is called “project analysis period” and it should be extended in order to compare diverse roadway resolutions in terms of the overall costs for the ultimate selection of the roadway construction for a national road or a freeway (Ferreira & Santos 2013). The problem is that up till now this examination has never been performed in Portugal. The results attained after the employment of the innovative life cycle cost analysis system evidently show that it is a valuable asset that is yet to be used by Portuguese road engineers.
Gaps and challenges of life cycle assessment
Finkbeiner et al. provide a wide-ranging summary of existing gaps of and challenges for life cycle assessment taking into consideration the influence assessment and its common and developing aspects. These comprise challenges like distribution, indecision, and biodiversity, in addition to topics like scattering which are not described as frequently in the current life cycle assessment literature (Finkbeiner et al. 2014). Each of these breaches is defined by a complex summary of the subject and its significance to the life cycle assessment, and the condition of the art in terms of fiction and possible explanations, if any, is offered. The enthusiasm for such an outline is two-fold. First, robust, maintainable, and reliable utilization of life cycle assessment should evade the over-explanation of LCA outcomes without appropriate reflection on its gaps and restrictions. Second, these breaches and contests characterize research requirements for the scientific life cycle assessment community and confidently stimulate more progress in system change.
Life cycle assessment and cost drivers
Life cycle assessment procedure is a deep-rooted investigative technique to measure ecological influences, which has been largely applied to products (Jacquemin, Pontalier & Sablayrolles 2012). Nevertheless, the current literature would state that it also has the potential as an examination and design instrument for procedures, and emphasizes that one of the major challenges of this decade in the area of procedure schemes engineering is the elaboration of instruments for ecological observations.
Annotated bibliography
Jacquemin, L, Pontalier, P, & Sablayrolles, C 2012, ‘Life Cycle Assessment (LCA) Applied to the Process Industry: A Review’, The International Journal of Life Cycle Assessment, vol. 17, no. 8, pp. 1028-1041.
The article by Jacquemin, Pontalier, and Sablayrolles tries to present a synopsis of the incorporation of the life cycle assessment methodology in the setting of engineering environmental sciences, and concentrates its attention on the utilization of this practice for ecological examinations by taking into consideration the processes of elaboration and optimization (Jacquemin, Pontalier & Sablayrolles 2012). The evaluation recognizes that life cycle assessment is repeatedly exploited as a multi-target optimization of procedures. First, managers use the life cycle assessment to attain the records and implement the outcomes into the optimization prototype (Jacquemin, Pontalier & Sablayrolles 2012).
It also demonstrates that the majority of the life cycle assessment studies undertaken on procedure examination view the discrete procedures as black boxes and form the analysis of the records on secure functioning conditions. The article by Jacquemin, Pontalier, and Sablayrolles stresses the importance of assimilating the current PSE instruments with the life cycle assessment methodology, with the intention of generating a more comprehensive examination (Jacquemin, Pontalier & Sablayrolles 2012). This will permit optimizing the impact of the functioning conditions on ecological influences and incorporating thorough environmental outcomes into the industry.
Moreover, this article presented a short history and a thorough review of the life cycle cost examination (Jacquemin, Pontalier & Sablayrolles 2012). In particular, life cycle cost study in oil and chemical commerce, based on a comprehensive literature review, Internet browsing, and consultations with specialists. The main goal of the life cycle cost analysis conducted by Jacquemin, Pontalier, and Sablayrolles was to measure the total cost of proprietorship of a product through its complete life cycle, which embraces investigation and growth, construction, process development and conservation, and removal (Jacquemin, Pontalier & Sablayrolles 2012).
The projected life-cycle cost is a rather beneficial statistic for decision making in acquiring a product, in improving the strategy, in setting up maintenance, or in scheduling the remodeling. This article presented a life cycle cost procedure that is made up of six stages, which are complications characterization, cost essentials description, scheme modeling, data gathering, cost side view elaboration, and estimation. Jacquemin, Pontalier, and Sablayrolles also described the minor events and actions that should be covered during the procedure. This article also offers codes and canons connected to the life cycle cost investigation and software instruments designed for the life cycle cost analysis (Jacquemin, Pontalier & Sablayrolles 2012).
Recommendations of how to address life cycle cost drivers
The costs of the factory-made parts frequently look as if they are too high in contrast to those of customarily human-made parts, as the information concerning the main cost drivers, particularly for the factory-made parts, is feeble. Consequently, the author of the paper recommends conducting a lifecycle investigation of these mass-produced parts so as to realize and assess the cost drivers that should be seen as the principal contributors to component costs, and to provide a focus for the forthcoming cost dropping actions for the current technology.
The author believes that a better understanding of the cost organization will assist in comparing the current costs with the occasional costs of the traditional industrial technologies and will make it more informal in terms of mitigating the utilization of the industrial parts. Bearing in mind all these characteristics, it is understandable that it is tough to associate the costs of a product merely founded upon the manufacturing costs per quantity. Consequently, a life cycle based tactic has to be implemented.
The main contributor to construction costs are the appliance costs. The discrepancy of impact factors has revealed that a condensed appliance rate cost can be attained but will be one of the central aspects of the manufacturing process. As the method is completely mechanized, it is reasonable that the mechanism rate costs present the utmost input to the overall costs of a build. The author recommends modifying the distribution of the overhead costs in order to improve the outcome.
The resources costs, as another principal cost driver, have a robust impact on the building costs, too. The author recommends that the designer constructs autonomously and not dependent on the industrial limitations. By doing this, the organization will be able to minimize the volume of the additionally mass-produced parts. Consequently, the impact of the selected resource on the total cost, particularly for low capacity parts, will decline even more in the future.
The biggest cost driver is characterized by the outlays for the data research. A trained and knowledgeable engineer is required for the research process. As the key aspect of the research is employment costs, the author recommends it to be conducted once for bigger series of portions. This will reduce the expenses on the data research. Therefore, the established cost model will signify a difference between machine-made parts and an adapted amalgamation of parts in the production chamber.
References
Alhawari, S, Karadsheh, L, Talet, A, & Mansour, E 2012, ‘Knowledge-Based Risk Management framework for Information Technology project’, International Journal of Information Management, vol. 32, no. 1, pp. 50-65.
Ferreira, A, & Santos, J 2013, ‘Life-cycle Cost Analysis System for Pavement Management at Project Level: Sensitivity Analysis to the Discount Rate’, International Journal of Pavement Engineering, vol. 14, no. 7, pp. 655-673.
Finkbeiner, M, Ackermann, R, Bach, V, Berger, M, Brankatschk, G, Chang, Y,… Wolf, K 2014, ‘Challenges in Life Cycle Assessment: An Overview of Current Gaps and Research Needs’, The Complete World of Life Cycle Assessment Background and Future Prospects in Life Cycle Assessment, vol. 3, no. 11, pp. 207-258.
Frangopol, D 2011, ‘Life-cycle Performance, Management, and Optimisation of Structural Systems Under Uncertainty: Accomplishments and Challenges’, Structure and Infrastructure Engineering, vol. 7, no. 6, pp. 389-413.
Hauschild, M, Goedkoop, M, Guinée, J, Heijungs, R, Huijbregts, M, Jolliet, O,… Pant, R 2012, ‘Identifying Best Existing Practice for Characterization Modeling in Life Cycle Impact Assessment’, The International Journal of Life Cycle Assessment, vol. 18, no. 3, pp. 683-697.
Keller, A, McFerran, S, Lazareva, A, & Suh, S 2013, ‘Global Life Cycle Releases of Engineered Nanomaterials’, Journal of Nanoparticle Research, vol. 15, no. 6, pp. 43-51.
Srinivasan, V 2011, ‘An Integration Framework for Product Lifecycle Management’, Computer-Aided Design, vol. 43, no. 5, pp. 464-478.
Turconi, R, Boldrin, A, & Astrup, T 2013, ‘Life Cycle Assessment (LCA) of Electricity Generation Technologies: Overview, Comparability and Limitations’, Renewable and Sustainable Energy Reviews, vol. 28, no. 2, pp. 555-565.
Zwikael, O, & Ahn, M 2010, ‘The Effectiveness of Risk Management: An Analysis of Project Risk Planning Across Industries and Countries’, Risk Analysis, vol. 31, no. 1, pp. 25-37.