Purpose – This paper seeks to propose a new approach for tackling the uncertainty and imprecision of identifying suitable supplier offers, evaluating these offers and choosing the best alternatives in bi‐negotiation. In a build‐to‐order supply chain, the handling of uncertainties is...

Incorporating managerial flexibility in an innovative R&D project is important, because managers face greater uncertainty in today's competitive and dynamic changing environment. It is essential to bring managerial flexibility into R&D project planning to decrease technical and market risks,...

This article outlines a practical set of four challenges to senior management who wish to quickly self assess the “fitness” of their organization to manage risk. These four challenges arise from the business and project risk environment in the context of organizational and personal attitudes...

Purpose – The purpose of this paper is to propose virtual process simulation as a technique for identifying and analyzing uncertainty in processes. Uncertainty is composed of both risks and opportunities. Design/methodology/approach – Virtual process simulation involves the creation of...