Web-based systems design: a study of contemporary practices and an explanatory framework based on “method-in-action”

This paper reports the findings of a detailed study of Web-based systems design (WBSD) practices in Ireland based on data collected over a 3-year period (2002–2005), the objectives of which were to (1) contribute towards a richer understanding of the current “real-world” context of WBSD by characterising the profile of a typical project (team size, timeframe, nature of requirements, etc.) and identifying the key challenges, constraints, and imperatives (i.e. “mediating factors”) faced by Web-based system designers, and (2) understand how those contextual parameters and mediating factors influence the activity of WBSD as regards the selection and enactment of whatever design practices are therefore engaged (i.e. the use of methods, procedures, etc.). Data was gathered through a survey which yielded 165 usable responses, and later through a series of semi-structured qualitative interviews. Using grounded theory, an explanatory conceptual framework is derived, based on an extension of the “method-in-action” model, the application of which to WBSD has not been previously investigated in depth. It is proposed that this framework of WBSD issues is valuable in a number of ways to educators, researchers, practitioners, and method engineers.     

The prospects of non-volatile phase-change RAM

Phase-change read-and-write memory (PRAM) is a promising memory that can solve the problems of conventional memory—scalability, read/write speed, and reliability. We will review the opportunities and technical challenges of PRAM. The most important challenge of PRAM is the reduction of the writing current. Various approaches to reduce the writing current will be reviewed and the prospects of PRAM are discussed.     

A stochastic maximum principle for systems with jumps, with applications to finance

We consider a stochastic control problem with linear dynamics with jumps, convex cost criterion, and convex state constraint, in which the control enters the drift, the diffusion, and the jump coefficients. We allow these coefficients to be random, and do not impose any L^p-bounds on the control.

We obtain a stochastic maximum principle for this model that provides both necessary and sufficient conditions of optimality. This is the first version of the stochastic maximum principle that covers the consumption–investment problem in which there are jumps in the price system.