Burton V. Dean

Multiproject staff scheduling with variable resource constraints

An analytical approach and a PC software based solution are presented to a project management problem, in which multiple resources must be allocated to perform both routine tasks and a set of projects with varying levels of priority. The performance of a priority-based decision rule was tested on this project management problem. The model was able to provide division-level management with an effective tool for staff workload planning and program management. A sequential, iterative approach is developed and used to test and evaluate alternative PC commercial software on a set of projects and evolving criteria. A PC commercial software package, with associated heuristics, is demonstrated to provide useful results to multiproject staff scheduling problems in an actual organization. >

Multistage financing of technical start-up companies in silicon valley

Abstract Financing remains an issue that entrepreneurs face long after their initial financing has been obtained. In technical companies, that face changing customers, competitors, and technology, the need to finance new products to replace earlier products can be of vital importance to growth and survival. Venture capital firms that invest in technical companies also recognize the need for subsequent financing to maintain growth and thus protect the initial investment. This research explored both the venture capitalists and the entrepreneurs viewpoints. The principal questions asked in the research were (1) How are subsequent rounds of investment considered and made by venture capitalists? and (2) What problems occur in the entrepreneurs search for subsequent funding? A combination of in-depth interviews and mailed questionnaires was used in the research to obtain responses from a sample of venture capitalists and entrepreneurs in Silicon Valley. This approach produced observations on the venture capitalists methods of making risk-return trade-offs and on the reasons why entrepreneurs face problems in obtaining funding for second, new products. Specifically, it was found that venture capital firms reduce the risk associated with funding young companies by showing preferences for certain stages of financing, or for funding single-versus multiple-round investments. These preferences appear to be idiosyncratic, and entrepreneurs must be careful to deal with venture capitalists whose tendencies are consistent with the entrepreneurs goals. It was also found that a major problem faced by entrepreneurs seeking funding for second products is the effort required for the search. This effort takes away from their ability to perform day-to-day management activities at a crucial time in the growth of the firm. Implications are drawn for improving the effectiveness of entrepreneurs and venture capitalists efforts, as well as for future research.

A multiple objective selection methodology for strategic industry selection analysis

An application of mathematical programming in the industry selection step of strategic acquisition analysis is presented. Specifically, the management information uses of multiple-objective programming in the strategic planning of organization acquisitions are described. The modeling approach has application to all forms of organization-acquisition analysis (i.e. acquisitions, mergers, joint ventures, etc.). An illustrative application of the modeling approach is presented using data from a regional conglomerates actual acquisition study. The benefits of the use of the multiple-objective modeling approach include improvements in the efficacy and specificity of information on which acquisition decision making is based, and types of information that are not methodology. >

The project-management approach in the “systematic management” of innovative start-up firms

Abstract This paper presents the principal results obtained by applying the project- management approach to strategic planning and operations management of innovative start-up firms key activities. This approach is used to implement Druckers view of entrepreneurship as a systematic discipline and his recommendation that innovation be treated using his principle of systematic innovation. As is well known, the management of growth in an innovative start-up firm is a difficult problem facing that organization. During this particular stage of the firms development, many interdependent activities need to be performed under the conditions of uncertainty and limited resources. In these cases, flexibility and contingency planning are necessary. The fact that there exists no generally accepted approach that an entrepreneur can utilize, however, results in chaotic situations in many such enterprises. The start-up firm cannot utilize the formalized management systems and procedures available and useful in large firms. In addition, a disorganized, chaotic, random management-decision process will seldom provide desirable results in such firms. Viewing the firm as a project to be managed with specific tasks, activities, precedence relations, durations, and milestones presents an opportunity to utilize project-management techniques, including the critical-path method (CPM). Recent research has demonstrated that project-management methodology and its computer- software applications are applicable to small, innovative start-up firms. By utilizing a microcomputer, one can analyze any start-up business for flaws in management or organization and can chart a more productive path for achieving the firms strategic goals. Project management using computers is not new: it has been used for years for major aerospace, utility, and construction projects. Only recently, however, have microcomputers and software become inexpensive enough to allow small firms to utilize this approach. The project-management approach collects information about a start-up firm, including all of its planned activities consistent with its evolving business plan, and then utilizes a microcomputer and inexpensive, readily available project-management software to process the information collected. Among the outputs are a “GANTT chart,” which indicates when the various activities should begin and end; a “Job Report,” which provides the earliest and latest possible deadlines for starting and ending each activity; and a “Milestone Report,” which indicates when each key event is to be accomplished according to the strategic business plan. These status reports are extremely valuable to the CEO and to the management team as the firm is kept on course according to its strategic plan. This methodology has been applied to 20 innovative start-up firms in northern California, including a computer graphics company, a semiconductor-equipment manufacturer, and firms that develop software for professional athletes, educators, ophthalmologists, and radio-station managers. In addition, the project-management approach has been applied to plan and schedule Stanford Universitys current centennial fund-raising campaign. Results indicate that the CEO and the entire management team are able to plan, schedule, and control the innovative start-up firms multiplicity of activities in a systematic way. The firm is also able to modify its strategic plan based on a review of its updated status reports and to modify its operations plans accordingly. Current research is under way to develop similar systematic methods for managing innovations in large organizations.

Predicting doctorate production in the U.S.A.: Some lessons for long-range forecasters

Abstract The nine major independently conducted forecasts of doctoral degree production for the 1970s shared a consistently high bias, although one was quite accurate. In this paper we compare the forecasting models based upon results of these studies and discuss their implications for long-range forecasting. We show that the bias was mainly due to a common core assumption (exemplifying ‘assumption drag’) that students would pursue degrees at close to the existing rates in spite of decreasing traditional demand for graduates. The results also indicate the value of simple models and eclectic forecasting methods, the desirability of robust causal models and the dangers of extrapolative methods (especially with insufficient historical data) when structural changes are anticipated, the usefulness of current expert opinion, the inappropriateness of intentions surveys for time horizons longer than the lead time needed for significant change, and the importance of physical and economic limitations and principles (such as substitution effects and interactions between supply and demand) in developing long-range forecasting models.

On the Voids in U.S. National Education Statistics

In forecasting the supply and demand of highly trained human resoun:es at the nationallevel, it must be recognized that people flow through a network that starts at kindergarten and ends in higher education. The upper reaches of this pipeline exxad hibit many branches and even some feedback loops. Network models used in such forecasting require people flow data, in addition to many socioecoxad nomic and political considerations. This paper, usxad ing a systems approach, points out the voids in the U.S. national education statistics. 1. BACKGROUND Few will deny that the United States is one of the most well-developed nations of the world. Our Gross National Product in 1983 amounted to

A goal programming approach to production planning for flexible manufacturing systems

3,304.8 billion. Few will deny that our educational establishment is a major ecoxad nomic sector. In 1983, we spent

On the optimal safe allocation and scheduling of a work force in a toxic substance environment

215.4 billion on educating our young, from the elementary through the high school level, and we spent

Web-based self-support business system effectiveness

82.5 billion in the field of higher education, for a total of

Computer Simulation as an Emerging Technology in Water Resource Management

222.4 billion. The amount of money we spent on educating our populace is 6.7% of the U.S. Gross National Product, a Significant percentage. In terms of total dolxad lars, it exceeded the Gross National Product of most nations on the globe.