SLQS-Journal Vol. 1 - Slqs-uae.org

SLQS JOURNALJanuary 2009ACKNOWLEDMENTS:The authors wish to acknowledge the support and fundingfor this research project provided by Bantrel Inc. and theexpert guidance provided by Mr. Roger Mapp, ExecutiveVice President of Bantrel Inc. The authors also acknowledgethe Canada Research Chair Program as this research wasconducted under one core pillar areas of the Canada ResearchChair in Project Management Systems hosted by the secondauthor of the paper.REFERENCESBarraza, G.A., Back, W. Edward, and Fernando, Mata (2004).“Probabilistic Forecasting of Project Performance UsingStochastic S Curves.” Journal of Construction Engineering andManagement, American Society of Civil Engineers, 130(1), 25– 32Hemachandra, P.S. and Ruwanpura, J.Y. (2008). “ProbabilisticEarned Value Forecasting and Activity Performance IndexUsing Monte Carlo Simulation” Proceedings of the CSCEAnnual Conferences, Quebec City, QCMarshall, Robert A. (2006). “The contribution of earnedvalue management to project success on contracted efforts:A quantitative statistics approach within the population ofexperienced practitioners.” PMI (www.pmi.org). Retrieved on2008-02-09Mohamed, Y. and AbouRizk, S.M. (2005). Framework forBuilding Intelligent Simulation Models of ConstructionOperations, Journal of Construction Engineering andManagement, ASCE, 131(3), 277-291.National Defence Industry Association. (2004). IntegratingRisk Management with Earned Value Management.PMI Standards Committee (2004). A Guide to the ProjectManagement Body of Knowledge: PMBOK© Guide, ThirdEdition, Project Management Institute, Newtown Square,Pennsylvania.Vargas, Ricardo Viana, (2003), “Earned Value Analysis inControl of Projects: Success or Failure?” Association foradvancement of cost engineering Transactions, CSC 21.1Arbuthnot and Others -v- Feltrim and Others; Deeny and Others -v- Gooda Walker Ltdand Others (1993)Lloyds’ names sought damages from their underwriting agents for negligence. The court had to decide as a preliminary issuewhether any duty of care arose to the names.Held: Until 1990, names signed an agreement with a member’s agent who in turn arranged for them to be served by anunderwriting agency, who, and again in turn, wrote insurance business on their behalf. Some members combined these twofunctions and were known as ‘direct’ names, and others were known as ‘indirect’ names. The underwriting agents had absolutediscretion as to what business was to be written, and could appoint sub-agents. This very wide discretion and the unlimitedliability of names and payments made to underwriters, required the underwriters to exercise a duty to exercise reasonable care andskill. That could only be excluded by the clearest of contracts. Contractual obligations might replace common law duties of care,but in this case these obligations for direct names were identical. For indirect names, the obligation existed in negligence only. Thiscase did not require any extension of the law of negligence. Any delegation to managing agents did not alter the implicit promise tomembers34