Dr Festus Oderanti

Biography

Dr Festus Oderanti is a lecturer in Information and Knowledge Management and Program Leader for MSc Digital and Social Media Marketing. His research uses digital ICTs as well as ISs to facilitate strategic innovations and organizational transformation across different sectors and domains. In the last 15 years, he has been involved in teaching and research in the areas of decision making under uncertainty, knowledge management as well as management and commercial sustainability of eHealth (digital-enabled Healthcare) innovations. Festus is an expert in the areas of business models development and decision making education. He has been involved in a number of high profile research projects. He is a Co-Investigator (CI) on current Erasmus Plus project titled “Developing online tool to fostering entrepreneurship in the retail sector of young people under 30 years”. Prior to that, Festus worked full time with the Newcastle University Business School as a Research Fellow on Sustainable Business Models for Assisted Living Technologies & Services (SALT) project. This £2m project (2011-2014) was led by Newcastle University under the Assisted Living Innovation Platform (ALIP). He is also presently a Visiting Fellow with Newcastle University Business School. He was an Invited Speaker at the Higher Education Academy Workshop titled “innovative approaches to experiential teaching in Management Decision Making education May 2014”. He has recently published over 20 refereed papers on high quality international journals and conferences. Festus is Senior Member of the Institute of Electrical and Electronics Engineers (SMIEEE), Member of British Computer Society (MBCS), Member, British Academy of Management and Member of Nigeria Computer Society (MNCS).

Talk abstract

In recent times, diverse uncertainties in the global economic environment have made it difficult for most countries to meet their financial obligations. For example, according to statistics from European Commission, 24 out of 29 recorded European Economic Area member countries had budget deficits in 2014. Therefore through modelling and simulations, this paper proposes flexible decision support schemes that could be used in managing the uncertainties in budgeting. Rather than entirely relying on estimates of anticipated revenues (which are uncertain and difficult to predict) in government budgeting, the scheme proposes incorporating fuzzy inference systems (which is able to capture both the present and future uncertainty) in predicting the anticipated revenues and consequently, in proposing government expenditures. The accuracy of fuzzy rule base helps in mitigating adverse effects of uncertainties in budgeting. We illustrated the proposed scheme with a case study which could easily be adapted and implemented in any budgeting scenarios.