Construction sector is vulnerable to economic changes, especially during recession periods due to the high capital outlays, cost flexibility and high competition limiting the price. The changes of the business environment, often associated with shortage of funds, exchange rate fluctuation and political instability are increasing the construction projects financial risks. The actual economical context in the Central and East European countries is characterized by an aggressive competition and a lack of investments in construction area. The common behaviour of the contractor construction companies during these days is to accept a large number of risks beyond their power to mitigate them only to still stay on the business. In order to win the tender, they are bidding lower prices which make them vulnerable to the unexpected events during the project, especially from financial aspects. But the lack of cash during the project progress both at the employer level but mostly at the contractor level leads to delays, penalties and loss of opportunities which are reflected in the health of projects and organizations. The paper proposes a practical cash flow analysis model, which can be applied by the construction companies mainly when decisions about portfolio structure are taken. Applying this proposed model, the construction companies could avoid high financial exposures and loses.
In: International journal of knowledge society research: IJKSR ; an official publication of the Information Resources Management Association, Band 1, Heft 2, S. 13-25
This paper examines the factors that influence the quality of training and education on project management. The authors present the results of two questionnaire-based surveys. The goal of the first survey was to find what factors influence the quality of project management education, according to the perspective of trainers, professors, and training providers. The respondents included Chinese and European academics and professionals, such as project managers, software developers, financial managers and professors. The respondents were not only involved in project management training but also served as team members or team managers, thus ensuring a balanced overview of theoretical and practical issues. The goal of the second survey was to explore the definition "quality" to trainees and students. Although there were small differences of perspective, both trainers and trainees have the same approach toward a qualitative project management education.
Foreword -- Foreword -- Preface -- Acknowledgment -- Classic approaches and novel trends in project risk management / Constanta-Nicoleta Bodea, Bucharest University of Economic Studies, Centre for Industrial and Services Economics, Romania, Augustin Purnus, Technical University of Civil Engineering, Bucharest, Romania, Martina Huemann, WU Vienna University of Economics & Business, Austria, Miklos Hajdu, Budapest University of Technology and Economics, Budapest, Hungary -- Approaches and theories -- Coping better with the project́s unknown unknowns : new competences for overcoming uncertainty in projects / Yvonne Gabriele Schoper, HTW Berlin, Germany, Fritz Böhle, ISF München, Germany -- Eckhard heidling, isf münchen, germany -- Integrating sustainability into project risk management / Gilbert Silvius, LOI University of Applied Sciences, Leiderdorp, Netherlands -- Project risk management : a chinese perspective / Anbang Qi, Nankai University, Tianjin, China -- Lixia zheng, tianjin, china -- Systemic risk management : a practice approach to the systemic management of project risk / Steve Raue, The Systemic Excellence Group, Berlin, Germany, Louis Klein, The Systemic Excellence Group, Berlin, Germany -- Methods and cases -- Challenge or potential? risk identification in the context of sustainable development / Martina Huemann, WU Vienna University of Economics and Business, Vienna, Austria, Claudia Ringhofer, WU Vienna University of Economics and Business, Vienna, Austria -- Easier identification of risks and uncertainties with project risk constellations / Ursula Kopp, University of Applied Sciences Upper Austria, Austria -- Value-based project risk management process for professionals / Tamas Toth, Budapest University of Technology and Economics, Budapest, Hungary, Zoltan Sebestyen, Budapest University of Technology and Economics, Budapest, Hungary -- On using monte carlo simulations for project risk management / Cristiana Tudor, Bucharest University of Economics, Bucharest, Romania, Maria Tudor, Bucharest University of Economics, Bucharest, Romania -- Managing risks in the innovation projects in the services sector : a case study for the mobile communication / Stelian Stancu, Bucharest University of Economic Studies, Bucharest, Romania, Centre for Industrial and Services Economics, Romanian Academy of Science -- The internalization of attention at 28,000 feet : revisiting the k2 2008 disaster / Elmar Kutsch, Cranfield University, Bedfordshire, UK -- Perspectives -- Risks in project marketing / Rodney Turner, SKEMA Business School and Politecnico di Milano, Italy -- Educating project managers to deal with project risks : improvement of the educational programmes design by using curriculum management systems / Radu-Ioan Mogos, Bucharest University of Economic Studies, Bucharest, Romania, Constanta-Nicoleta Bodea, Bucharest University of Economic Studies, Centre for Industrial and Services Economics, Bucharest, Romania, Stelian Stancu, Bucharest University of Economic Studies, Centre for Industrial and Services Economics, Bucharest, Romania, Augustin Purnus, Technical University of Civil Engineering, Bucharest, Romania, Maria-Iuliana Dascalu, University Politehnica of Bucharest, Romania -- Using a knowledge-based approach for fostering the use of risk management in construction projects / Alfredo Federico Serpell, Pontificia Universidad Católica de Chile, Santiago, Chile -- Project portfolio risk management : managing risk in case of investment portfolio / Nicolae Postvaru, Technical University of Civil Engineering of Bucharest, Romania, Bogdan Leonte, Technical University of Civil Engineering of Bucharest, Romania -- Financial risk management: an introduction / Rares Stoian, Technical University of Civil Engineering, Bucharest, Romania, Mirela Madalina Stoian, Technical University of Civil Engineering, Bucharest, Romania -- Compilation of references -- About the contributors -- Index
The International Conferences on Economics and Social Sciences (ICESS)organized by Bucharest University of Economic Studies provides an opportunity for all those interested in Economics and Social Sciences to discuss and exchange research ideas. The papers presented at the Conference are available online in the Conference Proceedings series (ISSN 2704-6524): Volume 2019 Collaborative Research for Excellence in Economics and Social Sciences, ISBN 9788366675322 Volume 2020 Innovative Models to Revive the Global Economy, ISBN 9788395815072 This conference provides an opportunity for all those interested in Economics and Social Sciences to discuss and exchange research ideas. We welcome both empirical and theoretical work that is broadly consistent with the conference' general theme. Especially, researchers, PhD students and practitioners are invited to submit papers on the topics related to new models in entrepreneurship and innovation, sustainability and education, data science and digitalization, marketing and finance, Fintech & Insurtech etc. that will develop innovative instruments for countries, businesses and education. The innovative models for sustainable development aim to ensure simultaneous economic development, social development, and environmental protection, to achieve a higher quality of life for all people and protect all living beings and the planet. The main topics of the conference are focused on but not limited to the following sections: Fintech & Insurtech - towards a sustainable financial environment The role of innovation in public and private organizations Financial perspectives in turbulent times Global Challenges for Agri-Food Systems and Sustainable Development Economic Policies for Non-Cyclical Crises Education for Sustainable Development: impact of universities on society Marketing and Sustainability The role of accounting in Sustainable Development Global world after crisis: towards a new economic model Sustainability for future business Current challenges within demographic data: measurement, collection, retrieval, analysis and reporting We welcome you to join us for two intensive days of plenary speeches and specialized parallel sessions debates that will result in high quality practical insights and networking. Scientific CommitteeACELEANU Mirela, Bucharest University of Economic Studies, RomaniaALBU Lucian, Academia Romana, RomaniaANGHEL Ion, Bucharest University of Economic Studies, RomaniaARROYO GALLARDO Javier, Complutense University of Madrid, SpainAUSLOOS Marcel, Leicester University, United KingdomBEGALLI Diego, University of Verona, ItalyBELLINI Francesco, Sapienza University of Rome, ItalyBRATOSIN Ștefan, Universite Montpellier 3, FranceCABANIS Andre, Universite Toulouse 1 Capitole, FranceCASTERAN Herbert, EM Strasbourg University, FranceCENȚIU Silvian, Retina Communications, San Francisco, USACERQUETI Roy, Sapienza University of Rome, ItalyCHAVEZ Gilbert, Globis University Tokyo, JapanCOSTICÃ Ionela, Bucharest University of Economic Studies, RomaniaCOX Michael, London School of Economics, England, UKD'ASCENZO Fabrizio, Sapienza University of Rome, ItalyDIMA Alina Mihaela, Bucharest University of Economic Studies, RomaniaDÂRDALÃ Marian, Bucharest University of Economic Studies, RomaniaDUMITRESCU Dan Gabriel, Bucharest University of Economic Studies, RomaniaDUMITRU Ovidiu, Bucharest University of Economic Studies, RomaniaFELEAGÃ Liliana, Bucharest University of Economic Studies, RomaniaFONSECA Luis Miguel, Polytechnic of Porto, PortugalGARCÍA-GOÑI Manuel, Universitad Complutense de Madrid, SpainGIUDICI Paolo, The University of Pavia, ItalyGRUBOR Aleksandar, University of Novi Sad, SerbiaHÄRDLE Wolfgang Karl, Humboldt University of Berlin, GermanyHURDUZEU Gheorghe, Bucharest University of Economic Studies, RomaniaISTUDOR Nicolae, Bucharest University of Economic Studies, RomaniaKOKUSHO Kyoko, IBM Tokyo, JapanLOMBARDI Mariarosaria, University of Foggia, ItalyMEHMANPAZIR Babak, EM Strasbourg University, FranceMIRON Dumitru, Bucharest University of Economic Studies, RomaniaNABIRUKHINA Anna Vadimovna, Saint Petersburg State University, RussiaNICA Elvira, Bucharest University of Economic Studies, RomaniaNIJKAMP Peter, Jeronimus Academy of Data Science Den Bosch, NetherlandsNOVO CORTI Maria Isabel, Universidade da Coruña, SpainORDÓÑEZ MONFORT Javier, Jaume I University, SpainPANETTA Roberto, Bocconi University, ItalyPARASCHIV Dorel Mihai, Bucharest University of Economic Studies, RomaniaPICATOSTE Xose, Universidad Autonoma de Madrid, SpainPIROȘCÃ Grigore, Bucharest University of Economic Studies, RomaniaPOINT Sébastien, EM Strasbourg University, FrancePOPA Ion, Bucharest University of Economic Studies, RomaniaPROFIROIU Marius Constantin, Bucharest University of Economic Studies, RomaniaRICHMOND Peter, Trinity College Dublin, IrelandSÂRBU Roxana, Bucharest University of Economic Studies, RomaniaSINGER Slavica, J.J. Strossmayer University of Osijek, CroatiaSMEUREANU Ion, Bucharest University of Economic Studies, RomaniaSTAMULE Tãnase, Bucharest University of Economic Studies, RomaniaSTATE Radu, University of Luxembourg, LuxembourgSTOIAN Mirela, Bucharest University of Economic Studies, RomaniaSTRAT Vasile Alecsandru, Bucharest University of Economic Studies, RomaniaSTREET Donna, University of Dayton, USATEIXEIRA DOMINGUES José Pedro, University of Minho, PortugalȚIGU Gabriela, Bucharest University of Economic Studies, RomaniaVALDEBENITO Carlos Ramirez, University of Chile, Santiago de Chile, ChileVEGHEȘ Cãlin Petricã, Bucharest University of Economic Studies, RomaniaVERHOEF Peter, University of Groningen, NetherlandsVOLKMANN Christine Katharina, Schumpeter School of Business and Economics, Bergische Universität Wuppertal, GermanyWALTER FARKAS Erich, University of Zurich, SwitzerlandWIERENGA Berend, Rotterdam School of Management, NetherlandsWOODS Michael, University of Aberystwyth, Wales, UKZIMMERMANN Klaus F., Bonn University (em.) end Global Labor Organization, Germany Open Access Statement These conference proceedings are Open Access proceedings that allow a free unlimited access to all its contents without any restrictions upon publication to all users. Open Access License These conference proceedings provide immediate open access to its content under the Creative Commons BY-NC-ND 4.0. Authors who publish with these proceedings retain all copyrights and agree to the terms of the above-mentioned CC BY-NC-ND 4.0 license. ABSTRACTING & INDEXING Innovative Models to Revive the Global Economy is covered by the following services: Directory of Open Access Books (DOAB) EBSCO Discovery Service Google Scholar Naviga (Softweco) Primo Central (ExLibris) ReadCube Summon (ProQuest) TDOne (TDNet) WorldCat (OCLC)