Value for Money (VfM) Assessment Using Fuzzy Logic

Paper (65): Value for Money (VfM) Assessment Using Fuzzy Logic

ABSTRACT: Value for Money (VfM) assessment is the gateway analysis for adopting the Public Private Partnerships (PPPs) route for project delivery. Literature review shows that PPPs have evolved significantly over the past few decades but the VfM assessment has remained unchanged. Throughout the world, practitioners and researchers have voiced their concerns about the limitations of VfM assessment. This research work presents use of Fuzzy Logic (FL) to improve the existing VfM assessment.

FL enables decision makers to assign degrees of truthfulness on the basis of “awareness” of the qualitative and quantitative propositions within the VfM. This helps in getting a single comprehensive VfM assessment result. This approach proves superior to the traditional approach where the VfM components are analyzed separately on the basis of monetary and non-monetary values. A case study analysis of VfM assessment from CALTRANS’ Presidio Parkway Project will be presented.

Sustainable Implementation of New Technologies in the Health Care Industry

The external environment in which all business exists is volatile, ambiguous, and ever evolving. In the wake of the e-commerce evolution, health care services are adapting to provide online prescription refills, in addition to sharing patient information using database software and cloud computing.

Implementation of these technologies requires project management skills that go beyond a firm’s everyday operations, and include risks such as identity theft of patients’ personal information.

Like all industries, health care services are subject to the consumer’s discretion when selecting a provider. One simple behavioral economic truth is the more choices an end user is provided, the more difficult it becomes to make a decision. The technologies used by health care providers varies tremendously and can have an impact on the brand image as it is perceived by the consumer. Among other variables such as the cost to implement, the benefit received, the time allocated and insuring that there is no disruption in service while making the transition. Thus sustainability is a key component and critical measure to be considered while implementing change and taking on new projects.

The paper aims to build bridges between departmental silos and build off of the well-established compartmentalized research of several fields. Empirical research pertinent to subject will examine the social psychological implications of persuasion in the form of digital media as it relates to health care marketing. An overview of human, social, and economic sustainability in addition to sustainability as a measure as it relates to health care project management.