A self-assessment based method for post-completion audits in paper production line investment projects
1University of Oulu, Faculty of Technology, Department of Mechanical Engineering
|Online Access:||PDF Full Text (PDF, 1.8 MB)|
|Persistent link:|| http://urn.fi/urn:isbn:9514281241
|Publish Date:|| 2006-06-12
|Thesis type:||Doctoral Dissertation
|Defence Note:||Academic Dissertation to be presented with the assent of the Faculty of Technology, University of Oulu, for public discussion in Raahensali (Auditorium L10), Linnanmaa, on June 21st, 2006, at 12 noon
Doctor Kari Juppi
Professor Josu Takala
The aim of this technologically oriented study was to develop an evaluation method for post-completion audits of investment projects in paper production lines. The development work was based on the constructive research approach. The objectives of the method were practical applicability, a comprehensive framework, and measures of project performance.
The evaluation method developed here is based on an adapted Malcolm Baldrige self-assessment framework, which has been embedded with three evaluation perspectives: project Targets (T), Risk management (R), and company Strategy (S). The compositions of these perspectives i.e. TRS perspectives, serve as the fundamental basis for a value added project. The evaluation criteria have been designed to fulfil the requirements of the paper industry and demanding projects. Scoring guidelines are used as a basis for evaluation results. Furthermore, supportive evaluation tools were developed to improve the accuracy and comparability of evaluation results. Evaluation is conducted by a group which consists of qualified tutors, project experts and facilitators. The latter are used especially to increase objectivity.
The method was tested with two cases studies which were applied in a greenfield paper machine project. The first case study focused on technology choices. The second case study was a full-scale study of the whole project scope. The evaluation results were relatively accurate, and feedback results were particularly positive.
Usage of the TRS perspectives can produce information which benefits decision-making. The method is capable of measuring both technical facts and subjective opinions. Moreover, the method is applicable in practice and can improve the investment process in general.
Acta Universitatis Ouluensis. C, Technica
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