This is the only reference of its kind that addresses the use of probability theory to quantify the management appraisal process. Using Value-Based Risk Management (VBRM) it illustrates how management executives set quantitative goals and monitor the goals using tactical plans and unique control charts. Once preliminary goals are set, the probability of achieving them is determined and the attention of management directed to actions that can improve opportunities and reduce bottom-line risks. This book takes the subjective judgment out of the appraisal of company managers and employees, and is perfect for human resource directors and senior managers looking for a better way to appraise employees.
- Contains concise tactical plans for controlling management and employee activities.
- Provides unique clothes-line charts for monitoring performance.
- Includes probability profiles showing the probability of achieving goals.
- Illustrates goal elements through management action charts, which if properly managed can improve opportunities and reduce risk to the bottom line.
- Features three separate chapters illustrating the use of the VBRM Appraisal process to production, service, and not-for-profit enterprises.
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Eugene C. Moncrief has many years of experience as a researcher, businessman, educator, and consultant. He spent seven years at the Oak Ridge National Laboratory, where he performed R&D on the nuclear fuel cycle, and then was employed by the Babcock & Wilcox Co., last serving as Senior Vice President and Group Executive for B&W’s world-wide nuclear and fossil businesses. Subsequently, he became a Partner with Inventory Solutions Inc., a firm specializing in managing production spare parts inventory. From 1978-1985 he was a Visiting Professor at the University of Virginia’s Darden Graduate Business School. Dr. Moncrief holds a Ph.D. in Chemical Engineering from Virginia Tech.
Kevin M. Curran is currently Executive Vice President of Decision Sciences Corporation, where he has been instrumental in managing multi-billion dollar risk decisions. He has consulted for public and private sector organizations regarding probabilistic risk management in strategic planning, business expansions, mergers and acquisitions, capital investments, joint ventures, and new product launches. His work in risk management also includes projects in defense weapons development, facility and company closings/shutdowns, information technology, enterprise-wide systems implementation, research and development, project scheduling, and facility relocations. He is a contributing author of Effective Project Management through Applied Cost and Schedule Control and has authored and presented numerous papers for the Association for the Advancement of Cost Engineering (AACE International), the First (and Second) Congress on Computing in Civil Engineering, the National Association of Purchasing Management, and the Military Engineer. He has been a frequent speaker for the American Management Association (AMA) and the Canadian Management Centre (CMC) on the subjects of risk and decision analysis. Mr. Curran is a graduate of Washington University in St. Louis.
