Business process modelling and simulation with application to a start-up actuarial firm

 

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dc.contributor.advisor Scott, Leanne en_ZA
dc.contributor.author Gweshe, Tatenda Mark en_ZA
dc.date.accessioned 2016-06-09T11:18:19Z
dc.date.available 2016-06-09T11:18:19Z
dc.date.issued 2015 en_ZA
dc.identifier.citation Gweshe, T. 2015. Business process modelling and simulation with application to a start-up actuarial firm. University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/19968
dc.description.abstract In our research, we set out to model, understand and evaluate the business process at a start-up actuarial firm which employs Report Writers (RWers) who specialise in quantifying actuarial matters. We simulated various "what-if" and extreme scenarios relating to (1) the impact of qualitative variables (stress, morale and health) on RWer productivity, (2) hiring policies for RWers who have various skills sets, (3) the allocation of RWers to various roles within the process, (4) the impact that a high turnover of experienced RWers has on productivity, (5) the impact of introducing a flexible working arrangement (flexitime). This was done through business process modelling and simulations. The business process we modelled was governed by numerous potentially complex inter-relationships between variables and inter-relationships, which we believed could lead to potentially significant feedback loops. The models we built were then simulated over a period of 3 to 7 years to gain insights into the behavioural trends of the firm's business process over time when subject to "what-if" scenarios and policy implementations. The model simulations allowed us to get an understanding of the behaviour of processes over time, and the key variables and relationships involved in bringing about such behaviour as certain variables were subjected to changes in levels, as set out in our objectives. We made use of relevant literature, expert opinion, past data, questionnaires and cognitive mapping techniques to build simulation models. Guided by methodologies used in literature on modelling qualitative variables, bearing in mind the dangers in modelling for them, we modelled for the complex inter-relationships between qualitative and quantitative variables. en_ZA
dc.language.iso eng en_ZA
dc.subject.other Statistical Sciences en_ZA
dc.title Business process modelling and simulation with application to a start-up actuarial firm en_ZA
dc.type Thesis / Dissertation en_ZA
uct.type.publication Research en_ZA
uct.type.resource Thesis en_ZA
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Science en_ZA
dc.publisher.department Department of Statistical Sciences en_ZA
dc.type.qualificationlevel Masters en_ZA
dc.type.qualificationname MSc en_ZA
uct.type.filetype Text
uct.type.filetype Image


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