• Crystal River Properties - Rental Property Acquisition Guide

      Wareham, Andrew J. (University of Alaska Anchorage, 2014-11-21)
      Crystal River Properties is a privately owned small business started in 2011 whose sole revenue stream relies upon rental income from company owned small multifamily (duplex and triplex) real property assets. In order for the business to expand, additional properties need to be acquired to increase revenue. Current real-estate market conditions make it financially impractical to purchase new construction properties. The most feasible alternative is to consider pre-existing properties which, if not done correctly, could expose the company to considerable financial risk. This project will research and identify methods to select prospective existing rental income properties with the greatest potential for maximum, sustainable net income based on operations and maintenance costs, marginal revenue, turnover rate and vacancy rates. The underlying objectives will used to best meet the expectations of the potential occupant segment of stakeholders. Assessment criteria will be based upon price (anticipated return on investment), location, size, age, type of construction, property condition (recent renovations), insurance and tax rates, lessons learned from past property procurements and risk analysis considerations. Consolidated results of gathered information and research will be packaged into a step-by-step user guide for income property acquisition. The guide will available in electronic PDF and hard copy format. The methodology depicted in the guide will enable a thorough evaluation of property selection alternatives against likely risks and key success criteria providing the tools necessary to acquire additional business assets in the most economical fashion while simultaneously exposing the company to the least amount of financial risk.
    • Risk Management in the Arctic Offshore: Wicked Problems Require New Paradigms

      Kaempf, Mandy; Haley, Sharman (Institute of Social and Economic Research, University of Alaska Anchorage, 2011-10)
      Recent project-management literature and high-profile disasters—the financial crisis, the BP Deepwater Horizon oil spill, and the Fukushima nuclear accident—illustrate the flaws of traditional risk models for complex projects. This research examines how various groups with interests in the Arctic offshore define risks. The findings link the wicked problem framework and the emerging paradigm of Project Management of the Second Order (PM-2). Wicked problems are problems that are unstructured, complex, irregular, interactive, adaptive, and novel. The authors synthesize literature on the topic to offer strategies for navigating wicked problems, provide new variables to deconstruct traditional risk models, and integrate objective and subjective schools of risk analysis.