This year's prize of the advisory board of the Master's programme International Project Management was awarded to Leonhard Kienitz-Roller for his outstanding thesis during the 48th advisory board meeting.
The aim of the thesis "Hedging the cost of HRC - An examination of the applicability of hedging the cost of HRC through exchange traded" was to analyse the procurement of steel via commodity futures on the commodity exchange against the background of project acquisition and goods purchasing at GOLDBECK GmbH. The practice is widespread in other industries, but is hardly used in the construction industry.
With the aim of making project acquisition more competitive and purchasing more profitable, various products and procurement markets were analysed. The data obtained was compared with the actual purchase prices of the past years; the high correlation of the prices of commodity exchanges and steel traders led to the conclusion that price hedging via commodity futures is advantageous.
Furthermore, a framework plan was derived from this study, which shows the next steps and milestones towards the successful implementation of procurement through commodity futures.
The award of the advisory board was financed by Robert Bosch Powertools GmbH - RefinemySite.