Evaluate the value of the cba for each constituency

Assignment Help Operation Management
Reference no: EM131968073

Sometimes one's choices may involve catastrophic decisions and bear great risk and yet there can be no clear answer.

For example, if a person gets a divorce, shutters a plant, sells a losing investment, or closes their business, will he or she be better off?

The following case incorporates nearly all of the material you have covered this far and presents an example of one such choice where nearly all of the alternatives have a significant downside risk.

Review the following information from the article "A Cost-Benefit Analysis of the New Orleans Flood Protection System" by Stéphane Hallegatte (2005):

•Hallegatte, an environmentalist, assigns a probability (p) of a Katrina-like hurricane of 1/130 in his cost-benefit analysis for flood protection. However, the levees that protect New Orleans also put other regions at greater risk.

You may assume the frequency of other floods is greater than Katrina-like events (Vastag & Rein, 2011).

•The new levees that were built in response to Katrina cost approximately fourteen billion dollars (in 2010). This is in addition to the direct costs of Katrina (eighty-one billion dollars in 2005).

•50 percent of New Orleans is at or below sea level.

•A 100-year event means that there is a 63 percent chance that such an event will occur within a 100-year period.

•The following are the interested (anchored and/or biased) constituencies:

?Residents of New Orleans-both those that can move and those who cannot move

?Residents of the surrounding floodplains at risk from New Orleans levees ?The Mayor of New Orleans

?The federal government-specifically taxpayers and the Federal Emergency Management Agency (FEMA)

Assume that the availability heuristics make people more risk averse (populations drop, at least in the short term). Consider how this would affect the local economy.

You are an analyst at FEMA and are in charge of developing a recommendation for both the state and the local governments on whether or not to redevelop New Orleans.

Write a report with your recommendation. Address the following in your report:

Part A

•Analyze the economics of New Orleans in light of the above parameters and develop your own Cost-Benefit Analysis (CBA) for rebuilding.

•Evaluate the value of the CBA for each constituency and integrate these estimates into a scenario model and/or decision tree. Analyze the results.

•Clearly each of these constituencies may both overlap and be prey to a variety of group dynamics internally. For one of these options, discuss the decision pitfalls to which they may be susceptible and make a recommendation on how to alleviate these pressures.

•Starting with your CBA, estimate the relevant expected utility for the interested constituencies.

Note: You need not have absolute amounts but your relevant utilities should be proportional to one another.

Hint: If you assume that your total CBA for New Orleans is fixed for each constituency (do not forget the overlaps), then each constituency will have a piece of the utility pie.

Part B

•Make a case for or against rebuilding the city of New Orleans. This should be an executive summary; be concise and brief. Include exhibits.

•Whether you are for or against, discuss how social heuristics could be used to your advantage, both ethically and unethically, in making your case. You may choose to fill the role of one of the constituents, if you prefer.

Write an 8-12-page report in Word format. Apply APA standards to citation of sources. Use proper spelling and grammar throughout, and keep the text legible and balanced with visuals

Hallegatte, S. (2006). A cost-benefit analysis of the New Orleans flood protection system. Center for Environmental Sciences and Policy. Stanford University.

Vastag, B., & Rein, L. (2011, May 11). In Louisiana, a choice between two floods. The Washington Post.

Reference no: EM131968073

Questions Cloud

Review paper that focus on security engineering : You will write three 750-word article review papers in current APA format that focus on security engineering.
What is evidence-based practice : Discuss the 3 areas of concern and how these can affect accreditation and/or financial status of the organization. What is evidence-based practice?
What claim type strategies did you use : What claim type strategies did you use? Were they effective? What do you think are your greatest strengths of the essay and why?
Calculate the long-run equilibrium output for ?rm : Calculate the long-run equilibrium output for each ?rm. Explain how the long-run equilibrium price changes as the number of ?rms increases?
Evaluate the value of the cba for each constituency : Evaluate the value of the CBA for each constituency and integrate these estimates into a scenario model and/or decision tree. Analyze the results.
Find the marginal rate of substitution : Find the marginal rate of substitution, Discuss how MRS XY changes as the consumer substitutes X for Y along an indifference curve,
Describe the primary message of the advertisement : Describe the primary message of the advertisement. Discuss which domains of the framework are engaged most robustly, and how.
Difference in research and evidence-based practice project : What is the difference between research and evidence-based practice (EBP) projects? Provide an example of each one and the reason for the difference.
How you might change the process to avoid selected pitfallls : At this point in the course you should be well armed with the tools and knowledge necessary to make better-informed and rational choices.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd