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

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dc.contributor.advisorScott, Leanneen_ZA
dc.contributor.authorGweshe, Tatenda Marken_ZA
dc.date.accessioned2016-06-09T11:18:19Z
dc.date.available2016-06-09T11:18:19Z
dc.date.issued2015en_ZA
dc.description.abstractIn 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.identifier.apacitationGweshe, T. M. (2015). <i>Business process modelling and simulation with application to a start-up actuarial firm</i>. (Thesis). University of Cape Town ,Faculty of Science ,Department of Statistical Sciences. Retrieved from http://hdl.handle.net/11427/19968en_ZA
dc.identifier.chicagocitationGweshe, Tatenda Mark. <i>"Business process modelling and simulation with application to a start-up actuarial firm."</i> Thesis., University of Cape Town ,Faculty of Science ,Department of Statistical Sciences, 2015. http://hdl.handle.net/11427/19968en_ZA
dc.identifier.citationGweshe, T. 2015. Business process modelling and simulation with application to a start-up actuarial firm. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Gweshe, Tatenda Mark AB - 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. DA - 2015 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2015 T1 - Business process modelling and simulation with application to a start-up actuarial firm TI - Business process modelling and simulation with application to a start-up actuarial firm UR - http://hdl.handle.net/11427/19968 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/19968
dc.identifier.vancouvercitationGweshe TM. Business process modelling and simulation with application to a start-up actuarial firm. [Thesis]. University of Cape Town ,Faculty of Science ,Department of Statistical Sciences, 2015 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/19968en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Statistical Sciencesen_ZA
dc.publisher.facultyFaculty of Scienceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherStatistical Sciencesen_ZA
dc.titleBusiness process modelling and simulation with application to a start-up actuarial firmen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMScen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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