Search results for: construction price

Authors: Jonathan Doku

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The study's goal was to evaluate construction site safety management in Ghana. The construction sector has long been seen as a high-risk business. It entails a variety of hazardous and challenging labor duties, such as lifting and working at a height, among others. The accident rate is a standard indicator for comparing the safety performance of construction projects. Because of its high-risk and fast-changing work environment, the construction business is regarded as one of the industries with the highest accident rates in the world. Many mishaps and work-related diseases have occurred there, and construction workers are particularly vulnerable to catastrophic calamities such as falls, collapses, and burial. The study's main goals were to discover characteristics that have a substantial impact on construction site safety, to evaluate the safety management methods utilized on construction sites, and to assess the obstacles associated with construction site safety management. The study was conducted using a quantitative research method and a purposive sampling strategy. Google forms were used to distribute self-administered surveys to 85 responders. 72 of the 85 questionnaires were completed and submitted for analysis, accounting for 84.7 percent of the total. The variables were analyzed using descriptive statistics, mean score ranking, and Cronbach's Alpha Coefficient to ensure the scale's reliability. The formal safety organization structure and the Safety checklist were identified as the key practices of safety management on site as part of the study goals. In addition, it was discovered that the most serious problem with safety management is ineffective supervision. To guarantee efficient monitoring and proper implementation of health and safety rules on building sites, management must be on the ball.

Keywords: construction, safety, risk, management

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Authors: Oded Hochman

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We first show that current measures of welfare changes in the whole economy do not apply to an economy with cities. In addition, since such measures are defined over a partial equilibrium, they capture only partially the effect of a welfare change. We then define a unique and additive measure that we term the modified economic surplus (mES) which fully captures the welfare effects caused by a change in the price of a nationally traded good. We show that the price change causes, on the one hand a change of land rents in the economy and, on the other hand, an equal change of mES that can be estimated by measuring areas in the price-quantity national demand and supply plane. We construct for each city a cost function from which we derive a city’s and, after aggregation, an economy-wide demand and supply functions of nationwide prices and of either the unearned incomes (Marshalian functions) or the utility levels (compensated functions).

Keywords: city cost function, welfare measures, modified compensated variation, modified economic surplus, unearned income function, differential land rents, city size

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Authors: Hui Wu, Ye Li

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Applying the structural break estimation method proposed by Perron and Bai (1998) to the housing price growth rate of top 5 MSAs in the Texas area, this paper estimated the structural break date for the growth rate of housing prices index. As shown in the estimation results, the break dates for each region are quite different, which indicates the heterogeneity of the housing market in response to macroeconomic conditions.

Keywords: structural break, housing prices index, ADF test, linear model

Procedia PDF Downloads 150

Authors: Saeed Yazdani, Shahrbanoo Bagheri, Sepideh Nikravesh

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Considering the importance and scarcity of water resources, the efficient management of water resources is of great importance. Adoption of modern irrigation technology is considered to be a key of increasing the efficiency of water used in agriculture. Policy makers have implemented several ways to induce the adoption of new irrigation technology. The empirical studies show that farmers are reluctant to utilize the use of new irrigation methods. This study aims to assess factors affecting on farmer’s decision on the application of water saving technologies with emphasize on crop price variation and water sources. A Logit model was employed to examine the impact of different variables on use of water saving technology. The required data gathered from a sample of 204 farmers in the year 2012. The results indicate that different variables such as crop price variability, water supply source, high-value crops, farm size, income, education, membership in cooperatives have a positive effect and variables such as age and number of plots have a negative impact on the probability of adopting modern water saving technologies.

Keywords: irrigation, water, water saving technology, scarcity

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Authors: Cesar Leines

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The social effects of the pandemic are significant and diverse, most of those effects have widened the gap of economic inequality. Without a doubt, each country faces difficulties associated with the strengths and weaknesses of its own institutions that can address these causes and consequences. Around the world, pricing practices that have no connection to production costs have been used extensively in numerous markets beyond those relating to the supply of essential goods and services, and although it is not unlawful to adjust pricing considering the increased demand of certain products, shortages and disruption of supply chains, illegitimate pricing practices may arise and these tend to transfer wealth from consumers to producers that affect the purchasing power of the former, making people worse off. High prices with no objective justification indicate a poor state of the competitive process in any market and the impact of those underlying competition issues leading to inefficiency is increased when national competition agencies are weak and ineffective in enforcing competition in law and policy. It has been observed that in those countries where competition authorities are perceived as weak or ineffective, price increases of a wide range of products and services were more significant during the pandemic than those price increases observed in countries where the perception of the effectiveness of the competition agency is high. When a perception is created of a highly effective competition authority, one which enforces competition law and its non-enforcement activities result in the fulfillment of its substantive functions of protecting competition as the means to create efficient markets, the price rise observed in markets under its jurisdiction is low. A case study focused on the effectiveness of the national competition agency in Mexico (COFECE) points to institutional weakness as one of the causes leading to excessive pricing. There are many factors that contribute to its low effectiveness and which, in turn, have led to a very significant price hike, potentiated by the pandemic. This paper contributes to the discussion of these factors and proposes different steps that overall help COFECE or any other competition agency to increase the perception of effectiveness for the benefit of the consumers.

Keywords: agency effectiveness, competition, institutional weakness, price gouging

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Authors: M. Aladwani, Y. Alarfaj

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The construction industry is currently experiencing a shift towards digitisation. This transformation is driven by adopting technologies like Building Information Modelling (BIM), drones, and augmented reality (AR). These advancements are revolutionizing the process of designing, constructing, and operating projects. BIM, for instance, is a new way of communicating and exploiting technology such as software and machinery. It enables the creation of a replica or virtual model of buildings or infrastructure projects. It facilitates simulating construction procedures, identifying issues beforehand, and optimizing designs accordingly. Drones are another tool in this revolution, as they can be utilized for site surveys, inspections, and even deliveries. Moreover, AR technology provides real-time information to workers involved in the project. Implementing these technologies in the construction industry has brought about improvements in efficiency, safety measures, and sustainable practices. BIM helps minimize rework and waste materials, while drones contribute to safety by reducing workers' exposure to areas. Additionally, AR plays a role in worker safety by delivering instructions and guidance during operations. Although the digital transformation within the construction industry is still in its early stages, it holds the potential to reshape project delivery methods entirely. By embracing these technologies, construction companies can boost their profitability while simultaneously reducing their environmental impact and ensuring safer practices.

Keywords: BIM, digital construction, construction technologies, digital transformation

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Authors: Sara Rankohi, Lloyd Waugh

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Construction sites are information saturated. Digitalization is hitting construction sites to meet the incredible demand of knowledge sharing and information documentations. From flying drones, 3D Lasers scanners, pocket mobile applications, to augmented reality glasses and smart helmet, visualization technologies help real-time information imposed straight onto construction professional’s field of vision. Although these technologies are very applicable and can have the direct impact on project cost and productivity, experience shows that only a minority of construction professionals quickly adapt themselves to benefit from them in practice. The majority of construction managers still tend to apply traditional construction management methods. This paper investigates a) current applications of visualization technologies in construction projects management, b) the direct effect of these technologies on productivity improvement and cost saving of a multi-residential building project via a case study on Mac Taggart Senior Care project located in Edmonton, Alberta. The research shows the imaged based technologies have a direct impact on improving project productivity and cost savings.

Keywords: image-based technologies, project management, cost, productivity improvement

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Authors: Abdulla Rahil, Rupert Gammon, Neil Brown

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The rapid growth of renewable energy sources and their integration into the grid have been motivated by the depletion of fossil fuels and environmental issues. Unfortunately, the grid is unable to cope with the predicted growth of renewable energy which would lead to its instability. To solve this problem, energy storage devices could be used. Electrolytic hydrogen production from an electrolyser is considered a promising option since it is a clean energy source (zero emissions). Choosing flexible operation of an electrolyser (producing hydrogen during the off-peak electricity period and stopping at other times) could bring about many benefits like reducing the cost of hydrogen and helping to balance the electric systems. This paper investigates the price of hydrogen during flexible operation compared with continuous operation, while serving the customer (hydrogen filling station) without interruption. The optimization algorithm is applied to investigate the hydrogen station in both cases (flexible and continuous operation). Three different scenarios are tested to see whether the off-peak electricity price could enhance the reduction of the hydrogen cost. These scenarios are: Standard tariff (1 tier system) during the day (assumed 12 p/kWh) while still satisfying the demand for hydrogen; using off-peak electricity at a lower price (assumed 5 p/kWh) and shutting down the electrolyser at other times; using lower price electricity at off-peak times and high price electricity at other times. This study looks at Derna city, which is located on the coast of the Mediterranean Sea (32° 46′ 0 N, 22° 38′ 0 E) with a high potential for wind resource. Hourly wind speed data which were collected over 24½ years from 1990 to 2014 were in addition to data on hourly radiation and hourly electricity demand collected over a one-year period, together with the petrol station data.

Keywords: hydrogen filling station off-peak electricity, renewable energy, off-peak electricity, electrolytic hydrogen

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Authors: Yan Wang, Yasushi Asami, Yukio Sadahiro

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In urban area, several landmarks may affect housing price and rents, hedonic analysis should employ distance variables corresponding to each landmarks. Unfortunately, the effects of distances to landmarks on housing prices are generally not consistent with the true price. These distance variables may cause magnitude error in regression, pointing a problem of spatial multicollinearity. In this paper, we provided some approaches for getting the samples with less bias and method on locating the specific sampling area to avoid the multicollinerity problem in two specific landmarks case.

Keywords: landmarks, hedonic regression, distance variables, collinearity, multicollinerity

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Authors: Phan Nghiem Vu, Le Tuan Vu, Ta Quang Tai

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Knowledge Management effectively is critical to the survival and advance of a company, especially in company-based industries such as construction. Knowledge management practice is crucial to the survival and progress of a company, especially company-based knowledge such as construction consultancy. Effective knowledge management practices are very significant to the competitive and development of a consulting organization. Hence, the success of knowledge management implementation depends on knowledge capturing and reusing effectively. In this paper, a survey was carried out of engineers and managers with experience in seven construction consulting organizations that provide services on the north-central coast of Vietnam. The main objectives of the survey to finding out how these organizations capture and reuse knowledge and significant barriers to the implementation of knowledge management. A conceptual framework based-on Trello application is proposed to formalize the knowledge-capturing and reusing process within construction consulting companies. It is showed that the conceptual framework could be used to manage both implicit and explicit knowledge effectively in construction consultant organizations.

Keywords: knowledge management, construction consultant organization, knowledge capturing, reusing knowledge, application-based technology

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Authors: Erfan Memarian, Seyyed Fazayel Alizadeh

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This study aims to evaluate the impacts of the oil and financial markets of the United States on Iran stock exchange and to develop an ARDL model to predict the short and long-term relationship between these markets. In this regard, all 713 weekly data between 28 July 1999 and 20 March 2013 were analyzed by using Microfit4.0 and Eviews7 econometric softwares. The independent variable of the study is the “Price and Yield Index (TEDPIX)” of Tehran Stock Exchange and the independent variables include S & P 500 Index, the US three-month treasury bill rate and West Texas Intermediate oil spot price index. The results show that the West Texas Intermediate oil spot price and the S&P 500 indices have significant positive relationships with Iran's TEDPIX. Also, there exists a significant negative relationship between Iran's TEDPIX and the US three-month Treasury bill rate.

Keywords: TEDPIX; Tehran Stock Exchange; S&P 500 index; USA three-month Treasury bill rate; West Texas Intermediate oil

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Authors: Zonggui Chen, Yuhong Wang, Yun Le

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U.S. engineering and construction companies have increased their presence in China. A strategy for them to enter and operate in China is to forge strategic alliances with local firms. Managing the differences in motives and cultures and using proper controls are essential for a productive strategic alliance. Based on literature and in-depth interviews, this paper examines the differences in motives and cultures within Sino–U.S. strategic alliances and the impacts of the differences on control mechanisms. This paper not only contributes to a better understanding of cross-border strategic alliances in construction, but also facilitates the operation of the alliances.

Keywords: strategic alliance, Chinese construction industry, motives, cultural differences

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Authors: Abioye A. Oyenuga, Rao Bhamidiarri

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Hurling a successful Construction and Demolition Waste (C&DW) recycling operation around the globe is a challenge today, predominantly because secondary materials markets are yet to be integrated. Reducing, Reusing and recycling of (C&DW) have been employed over the years, and various techniques have been investigated. However, the economic and environmental viability of its application seems limited. This paper discusses the costs and benefits in using secondary materials and focus on investigating reuse and recycling process for five major types of construction materials: concrete, metal, wood, cardboard/paper, and plasterboard. Data obtained from demolition specialist and contractors are considered and evaluated. With the date source, the research paper found that construction material recovery process fully incorporate the 3R’s process and shows how energy recovery by means of 3R's principles can be evaluated. This scrutiny leads to the empathy of grand challenges in construction material recovery process. Recommendations to deepen material recovery process are also discussed.

Keywords: construction and demolition waste (C&DW), 3R concept, recycling, reuse, waste management, UK

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Authors: Puti F. Marzuki, Adrianto Oktavianus, Almerinda Regina

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Interface problems among interacting parties in Indonesian construction projects have most often led to low productivity and completion delay. In the midst of this country’s needs to accelerate construction of public infrastructure providing connectivity among regions and supporting economic growth as well as better living quality, project delays have to be seriously addressed. This paper identifies potential causes factors of interface problems experienced by construction projects in Indonesia. Data are collected through a survey involving the main actors of six important public infrastructure construction projects including railway, LRT, sports stadiums, apartment, and education building construction projects. Five of these projects adopt the design-build project delivery method and one applies the design-bid-build scheme. Interface problems’ potential causes are categorized into contract, management, technical experience, coordination, financial, and environmental factors. Research results reveal that, especially in railway and LRT projects, potential causes of interface problems are mainly technical and managerial in nature. These relate to complex construction execution in highly congested areas. Meanwhile, coordination cause factors are mainly found in the education building construction project with loan from a foreign donor. All of the six projects have to resolve interface problems caused by incomplete or low-quality contract documents. This research also shows that the design-bid-build delivery method involving more parties in construction projects tends to induce more interface problem cause factors than the design-build scheme.

Keywords: cause factors, construction delays, project delivery method, contract documents

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Authors: Vishal Puri, Pradipta Chakrabortty, Swapan Majumdar

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Precast concrete construction is the most commonly used technique for a rapid construction. This technique is very frequently used in the developed countries. Different guidelines required to utilize the potential of prefabricated construction are still not available in the developing countries. This causes over dependence on in-situ construction procedure which further affects the quality, scheduling, and duration of construction. Also with the ever increasing costs of building materials and their negative impact on the environment it has become imperative to look out for alternate construction materials which are cheap and sustainable. Bamboo and fly ash are alternate construction materials having great potential in the construction industry. Thus there is a great need to develop prefabricated components by utilizing the potential of these materials. Bamboo reinforced beams, bamboo reinforced columns and bamboo arches as researched previously have shown great prospects for prefabricated construction industry. But, many other prefabricated components still need to be studied and widely tested before their utilization in the prefabricated construction industry. In the present study, authors have showcased prefabricated bamboo reinforced wall panel for the prefabricated construction industry. It presents a detailed methodology for the development of such prefabricated panels. It also presents the flexural behavior of such panels as tested under flexural loads following ASTM guidelines. It was observed that these wall panels are much flexible and do not show brittle failure as observed in traditional brick walls. It was observed that prefabricated walls are about 42% cheaper as compared to conventional brick walls. It was also observed that prefabricated walls are considerably lighter in weight and are environment friendly. It was thus concluded that this type of wall panels are an excellent alternative for partition brick walls.

Keywords: bamboo, prefabricated walls, reinforced structure, sustainable infrastructure

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Authors: Ubaid Ur Rahman, Waqar Younas, Sooraj Kumar Chhabira

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Environmentally sustainable building construction has experienced significant growth during the past 10 years at international level. This paper shows that the conceptual framework adopts sustainability techniques in construction to develop environment friendly building called green building. Waste occurs during the different construction phases which causes the environmental problems like, deposition of waste on ground surface creates major problems such as bad smell. It also gives birth to different health diseases and produces toxic waste agent which is specifically responsible for making soil infertile. Old recycled building material is used in the construction of new building. Sustainable construction is economical and saves energy sources. Sustainable construction is the major responsibility of designer and project manager. The designer has to fulfil the client demands while keeping the design environment friendly. Project manager has to deliver and execute sustainable construction according to sustainable design. Steel is the most appropriate sustainable construction material. It is more durable and easily recyclable. Steel occupies less area and has more tensile and compressive strength than concrete, making it a better option for sustainable construction as compared to other building materials. New technology like green roof has made the environment pleasant, and has reduced the construction cost. It minimizes economic, social and environmental issues. This paper presents an overview of research related to the material use of green building and by using this research recommendation are made which can be followed in the construction industry. In this paper, we go through detailed analysis on construction material. By making suitable adjustments to project management practices it is shown that a green building improves the cost efficiency of the project, makes it environmental friendly and also meets future generation demands.

Keywords: sustainable construction, green building, recycled waste material, environment

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Authors: Ririh Rahma Ratinghayu, Jayu Pramudya, Nur Aini Masruroh, Shi-Woei Lin

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This research studies pricing strategy in cooperative setting of hotel duopoly selling perishable product under fixed capacity constraint by using the perspective of managers. In hotel revenue management, competitor’s average room rate and occupancy rate should be taken into manager’s consideration in determining pricing strategy to generate optimum revenue. This information is not provided by business intelligence or available in competitor’s website. Thus, Information Sharing (IS) among players might result in improved performance of pricing strategy. IS is widely adopted in the logistics industry, but IS within hospitality industry has not been well-studied. This research put IS as one of cooperative game schemes, besides Mutual Price Setting (MPS) scheme. In off-peak season, hotel manager arranges pricing strategy to offer promotion package and various kinds of discounts up to 60% of full-price to attract customers. Competitor selling homogenous product will react the same, then triggers a price war. Price war which generates lower revenue may be avoided by creating collaboration in pricing strategy to optimize payoff for both players. In MPS cooperative game, players collaborate to set a room rate applied for both players. Cooperative game may avoid unfavorable players’ payoff caused by price war. Researches on horizontal cooperative game in logistics show better performance and payoff for the players, however, horizontal cooperative game in hotel revenue management has not been demonstrated. This paper aims to develop hotel revenue management models under duopoly cooperative schemes (IS & MPS), which are compared to models under non-cooperative scheme too. Each scheme has five models, Capacity Allocation Model; Demand Model; Revenue Model; Optimal Price Model; and Equilibrium Price Model. Capacity Allocation Model and Demand Model employs self-hotel and competitor’s full and discount price as predictors under non-linear relation. Optimal price is obtained by assuming revenue maximization motive. Equilibrium price is observed by interacting self-hotel’s and competitor’s optimal price under reaction equation. Equilibrium is analyzed using game theory approach. The sequence applies for three schemes. MPS Scheme differently aims to optimize total players’ payoff. The case study in which theoretical models are applied observes two hotels offering homogenous product in Indonesia during a year. The Capacity Allocation, Demand, and Revenue Models are built using multiple regression and statistically tested for validation. Case study data confirms that price behaves within demand model in a non-linear manner. IS Models can represent the actual demand and revenue data better than Non-IS Models. Furthermore, IS enables hotels to earn significantly higher revenue. Thus, duopoly hotel players in general, might have reasonable incentives to share information horizontally. During off-peak season, MPS Models are able to predict the optimal equal price for both hotels. However, Nash equilibrium may not always exist depending on actual payoff of adhering or betraying mutual agreement. To optimize performance, horizontal cooperative game may be chosen over non-cooperative game. Mathematical models can be used to detect collusion among business players. Empirical testing can be used as policy input for market regulator in preventing unethical business practices potentially harming society welfare.

Keywords: horizontal cooperative game theory, hotel revenue management, information sharing, mutual price setting

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Authors: Layal Mansour

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The aim of this paper is to identify whether oil price volatility or geopolitical risks can predict future financial stress periods or economic recessions in Kuwait. We construct the first Financial Stress Index for Kuwait (FSIK) that includes informative vulnerable indicators of the main financial sectors: the banking sector, the equities market, and the foreign exchange market. The study covers the period from 2000 to 2020, so it includes the two recent most devastating world economic crises with oil price fluctuation: the Covid-19 pandemic crisis and Ukraine-Russia War. All data are taken by the central bank of Kuwait, the World Bank, IMF, DataStream, and from Federal Reserve System St Louis. The variables are computed as the percentage growth rate, then standardized and aggregated into one index using the variance equal weights method, the most frequently used in the literature. The graphical FSIK analysis provides detailed information (by dates) to policymakers on how internal financial stability depends on internal policy and events such as government elections or resignation. It also shows how monetary authorities or internal policymakers’ decisions to relieve personal loans or increase/decrease the public budget trigger internal financial instability. The empirical analysis under vector autoregression (VAR) models shows the dynamic causal relationship between the oil price fluctuation and the Kuwaiti economy, which relies heavily on the oil price. Similarly, using vector autoregression (VAR) models to assess the impact of the global geopolitical risks on Kuwaiti financial stability, results reveal whether Kuwait is confronted with or sheltered from geopolitical risks. The Financial Stress Index serves as a guide for macroprudential regulators in order to understand the weakness of the overall Kuwaiti financial market and economy regardless of the Kuwaiti dinar strength and exchange rate stability. It helps policymakers predict future stress periods and, thus, address alternative cushions to confront future possible financial threats.

Keywords: Kuwait, financial stress index, causality test, VAR, oil price, geopolitical risks

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Authors: Shazali Abdulahi

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Project planning is the first phase in project life cycle which relates to the use of schedules such as Gantt charts to plan and subsequently report the project progress within the project environment. Likewise, project execution is the third phase in project lifecycle, is the phase where the work of the project must get done correctly and it’s the longest phase in the project lifecycle therefore, they must be effectively communicated, now today Communication has become the crucial element of every organization. During construction project delivery, information needs to be accurately and timely communicating among project stakeholders in order to realize the project objective. Effective communication among stakeholders during construction project delivery is one of the major factors that impact construction project delivery. Therefore, the aim of the research work is to examine the critical factors influencing effective communication among stakeholders on construction project delivery from the perspective of construction professionals (Architects, Builders, Quantity surveyors, and Civil engineers). A quantitative approach was adopted. This entailed the used of structured questionnaire to one (108) construction professionals in public and private organization within dutse metropolis. Frequency, mean, ranking and multiple linear regression using SPSS vision 25 software were used to analyses the data. The results show that Leadership, Trust, Communication tools, Communication skills, Stakeholders involvement, Cultural differences, and Communication technology were the most critical factors influencing effective communication among stakeholders on construction project delivery. The hypothesis revealed that, effective communication among stakeholders has significant effects on construction project delivery. This research work will profit the construction stakeholders in construction industry, by providing adequate knowledge regarding the factors influencing effective communication among stakeholders, so that necessary steps to be taken to improve project performance. Also, it will provide knowledge about the appropriate strategies to employ in order to improve communication among stakeholders.

Keywords: effetive communication, ineffective communication, stakeholders, project delivery

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Authors: Yohanna Panshak

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The impact of macroeconomic instability on economic growth and prosperity has been at forefront in many discourses among researchers and policy makers and has generated a lot of controversies over the years. This has generated series of research efforts towards understanding the remote causes of this phenomenon; its nature, determinants and how it can be targeted and mitigated. While others have opined that the root cause of macroeconomic flux in Nigeria is attributed to Oil-Price volatility, others viewed the issue as resulting from some constellation of structural constraints both within and outside the shores of the country. Research works of scholars such as [Akpan (2009), Aliyu (2009), Olomola (2006), etc] argue that oil volatility can determine economic growth or has the potential of doing so. On the contrary, [Darby (1982), Cerralo (2005) etc] share the opinion that it can slow down growth. The earlier argument rest on the understanding that for a net balance of oil exporting economies, price upbeat directly increases real national income through higher export earnings, whereas, the latter allude to the case of net-oil importing countries (which experience price rises, increased input costs, reduced non-oil demand, low investment, fall in tax revenues and ultimately an increase in budget deficit which will further reduce welfare level). Therefore, assessing the precise impact of oil price volatility on virtually any economy is a function of whether it is an oil-exporting or importing nation. Research on oil price volatility and its outcome on the growth of the Nigerian economy are evolving and in a march towards resolving Nigeria’s macroeconomic instability as long as oil revenue still remain the mainstay and driver of socio-economic engineering. Recently, a major importer of Nigeria’s oil- United States made a historic breakthrough in more efficient source of energy for her economy with the capacity of serving significant part of the world. This undoubtedly suggests a threat to the exchange earnings of the country. The need to understand fluctuation in its major export commodity is critical. This paper leans on the Renaissance growth theory with greater focus on theoretical work of Lee (1998); a leading proponent of this school who makes a clear cut of difference between oil price changes and oil price volatility. Based on the above background, the research seeks to empirically examine the impact oil-price volatility on government expenditure using quarterly time series data spanning 1986:1 to 2014:4. Vector Auto Regression (VAR) econometric approach shall be used. The structural properties of the model shall be tested using Augmented Dickey-Fuller and Phillips-Perron. Relevant diagnostics tests of heteroscedasticity, serial correlation and normality shall also be carried out. Policy recommendation shall be offered on the empirical findings and believes it assist policy makers not only in Nigeria but the world-over.

Keywords: oil-price, volatility, prosperity, budget, expenditure

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Authors: Jie Zhang, Chaomin Zhang

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Based on the network theory, this paper selects three Emerging-Market Multinationals Enterprises (EMNEs) as the research object and takes the typical overseas market opportunities constructed by them as the analysis unit to research the internal mechanism of overseas market opportunity construction of the EMNEs. The results show that: (1) EMNEs overseas market opportunity construction is a complex process, through the continuous interaction between enterprises and entities in the internal and external networks to achieve opportunity prototype, opportunity creation, and opportunity optimization in overseas markets. (2) Governments, foreign institutions and industry associations in the institutional network and competitors, partners, and customers in the commercial networks are the important entities in the construction of overseas market opportunities. Through the interaction of entity perception, relationship construction, and utilization, enterprises can obtain the necessary information, resources, and political asylum in the process of opportunity construction. (3) Organizations, project teams, and organizational sub-units within the enterprise are important internal entities for the construction of overseas market opportunities. Through the connection between different entities, they can achieve the circulation of resources within the organization and promote the opportunity construction of overseas markets. The research conclusions expand the relevant research on international opportunities and have inspiring and guiding significance for the expansion of EMNEs overseas markets.

Keywords: international (overseas) opportunities, opportunity construction, network entities, interaction, resource circulation

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Authors: Ayanori Sugiyama, Takahisa Hanei, Yasuhide Higo

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Domestic demand for the construction of tunnels has been increasing in recent years in Japan. To meet this demand, various construction materials and construction methods have been developed to attain higher strength, reduction of negative impact on the environment and improvement for working conditions. In this report, we would like to introduce the newly developed shotcrete with superior hardening properties which were tested through the actual machine scale and its workability and strength development were evaluated. As a result, this new tunnel construction method was found to achieve higher workability and quicker strength development in only a couple of minutes.

Keywords: accelerator, shotcrete, tunnel, high-strength

Procedia PDF Downloads 318

Authors: Omil Nady Mahrous Maximous

Abstract:

The construction industry is currently experiencing a shift towards digitisation. This transformation is driven by adopting technologies like Building Information Modelling (BIM), drones, and augmented reality (AR). These advancements are revolutionizing the process of designing, constructing, and operating projects. BIM, for instance, is a new way of communicating and exploiting technology such as software and machinery. It enables the creation of a replica or virtual model of buildings or infrastructure projects. It facilitates simulating construction procedures, identifying issues beforehand, and optimizing designs accordingly. Drones are another tool in this revolution, as they can be utilized for site surveys, inspections, and even deliveries. Moreover, AR technology provides real-time information to workers involved in the project. Implementing these technologies in the construction industry has brought about improvements in efficiency, safety measures, and sustainable practices. BIM helps minimize rework and waste materials, while drones contribute to safety by reducing workers' exposure to areas. Additionally, AR plays a role in worker safety by delivering instructions and guidance during operations. Although the digital transformation within the construction industry is still in its early stages, it holds the potential to reshape project delivery methods entirely. By embracing these technologies, construction companies can boost their profitability while simultaneously reducing their environmental impact and ensuring safer practices.

Keywords: architectural education, construction industry, digital learning environments, immersive learning BIM, digital construction, construction technologies, digital transformation artificial intelligence, collaboration, digital architecture, digital design theory, material selection, space construction

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Authors: K. Durairaj, I. N. Umar

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The asynchronous discussion forum is one of the most widely used activities in learning management system environment. Online forum allows participants to interact, construct knowledge, and can be used to complement face to face sessions in blended learning courses. However, to what extent do the students perceive the benefits or advantages of forum remain to be seen. Through content and social network analyses, instructors will be able to gauge the students’ engagement and knowledge construction level. Thus, this study aims to analyze the students’ level of knowledge construction and their participation level that occur through online discussion. It also attempts to investigate the relationship between the level of knowledge construction and their social interaction patterns. The sample involves 23 students undertaking a master course in one public university in Malaysia. The asynchronous discussion forum was conducted for three weeks as part of the course requirement. The finding indicates that the level of knowledge construction is quite low. Also, the density value of 0.11 indicating that the overall communication among the participants in the forum is low. This study reveals that strong and significant correlations between SNA measures (in-degree centrality, out-degree centrality) and level of knowledge construction. Thus, allocating these active students in a different groups aids the interactive discussion takes place. Finally, based upon the findings, some recommendations to increase students’ level of knowledge construction and also for further research are proposed.

Keywords: asynchronous discussion forums, content analysis, knowledge construction, social network analysis

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Authors: Junehyuck Lee, Dongmin Lee, Hunhee Cho, Kyung-In Kang

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A table formwork method has recently been widely applied in reinforced concrete structures in a tall building construction to improve safety and productivity. However, this method still depended mainly on manpower. Therefore, this study aimed at derivation of technology element to apply the automation in table formwork in a tall building construction. These results will contribute to improve productivity and labor saving in table formwork in tall building construction.

Keywords: table form, tall building, automation, productivity

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Authors: Ahsan Ahmed, Ming Lu, Syed Zaidi, Farhan Khan

Abstract:

The Integrated Project Delivery (IPD) method has been proposed as the solution to tackle complexity and fragmentation in the real world while addressing the construction industry’s growing needs for productivity and sustainability. Although the private sector has taken the initiative in implementing IPD and taken advantage of new technology such as building information modeling (BIM) in delivering projects, IPD remains less known and rarely used in public sector construction. The focus of this paper is set on the use of IPD in projects in public sector, which is potentially complemented by the use of analytical functionalities for workface planning and construction oriented design enabled by recent research advances in BIM. Experiences and lessons learned from implementing IPD in the private sector and in BIM-based construction automation research would play a vital role in reducing barriers and eliminating issues in connection with project delivery in the public sector. The paper elaborates issues challenges, contractual relationships and the interactions throughout the planning, design and construction phases in the context of implementing IPD on construction projects in the public sector. A slab construction case is used as a ‘sandbox’ model to elaborate (1) the ideal way of communication, integration, and collaboration among all the parties involved in project delivery in planning and (2) the execution of projects by using IDP principles and optimization, simulation analyses.

Keywords: integrated project delivery, IPD, building information modeling, BIM

Procedia PDF Downloads 204

Authors: Radhika Ramanchi

Abstract:

The oil market during 2014-2015 in India with large price fluctuations is very confusing to individual investor. The drop in oil prices supported stocks of some oil marketing companies (OMCs) like Bharat Petroleum Corporation, Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation etc their shares rose 84.74%, 128.63% and 59.16%, respectively. Lower oil prices, and lower current account, a smaller subsidy burden are the reasons for outperformance. On the other hand, lower crude prices giving downward pressure on upstream companies like Oil and Natural Gas Corp. Ltd (ONGC) and Reliance Petroleum (RIL) Oil India Ltd (OIL). Not having clarity on a subsidy sharing mechanism is the reason for downward trend on these stocks. Shares of ONGC and RIL have underperformed so far in 2015. When the oil price fall profits of the companies will effect, generate less money and may cut their dividends in Long run. In this situation this paper objective is to study investment strategies in oil marketing companies, by applying CAPM and Security Market Line.

Keywords: petrol industry, price fluctuations, sharp single index model, SML, Markowitz model

Procedia PDF Downloads 224

Authors: Assad Rashid, Umair Ahmed, Zafar Baig

Abstract:

A new trend in construction is widely influenced by the use of Steel-Concrete Composite Columns. The rapid growth in Steel-Concrete Composite construction has widely decreased the conventional R.C.C structures. Steel Concrete composite construction has obtained extensive receiving around the globe. It is considering the fact that R.C.C structures construction is most suitable and economical for low-rise construction, so it is used in farming systems in most of the buildings. However, increased dead load, span restriction, less stiffness and risky formwork make R.C.C construction uneconomical and not suitable when it comes to intermediate to high-rise buildings. A Base + Ground +11 storey commercial building was designed on ETABS 2017 and made a comparison between conventional R.C.C and encased composite column structure. After performing Equivalent Static non-linear analysis, it has been found that construction cost is 13.01% more than R.C.C structure but encased composite column building has 7.7% more floor area. This study will help in understanding the behavior of conventional R.C.C structure and Encased Composite column structure.

Keywords: composite columns structure, equivalent static non-linear analysis, comparison between R.C.C and encased composite column structures, cost-effective structure

Procedia PDF Downloads 200

Authors: Lei Liu

Abstract:

This paper concerns on a special phenomenon of rocketing of bride’s price in rural China after the rural-urban labor migration nowadays. It provides a brief overview of three major prospective on marriage exchange, especially impose the local marriage market due to the post-migration economic environments. Then the author highlights on several factors that influence the rocketing raise of rural marriage gifts using both the primary data from census 2010 and the interviews from the field study, such as one-child policy and the unbalanced sex ratio with the familiar context parents used different strategies in raising their sons and daughters so as to best hold their own interests, causing inequality between females and males. Then this was broken by the independence of rural women and the phenomenon of cross-regional marriage after the free mobility of labor resource between rural areas and urban areas which gives women equal rights to choose their spouses together with some publicly policies that accelerate the decline of patriarchy. In the end, the author spells out a framework of migration influence on rural marriage for some theoretical and policy implications of the findings.

Keywords: rural-urban migration, gender stratification, rural China, bride price, marriage

Procedia PDF Downloads 329

Authors: Bundit Pungnirund

Abstract:

This research aimed to study the relationship between marketing mix attitudes, motivation of buying decision and tendency of consumer decision making in buying the condominiums in Thailand. This study employed by survey and quantitative research. The questionnaire was used to collect the data from 400 sampled of customers who interested in buying condominium in Bangkok. The descriptive statistics and Pearson’s correlation coefficient analysis were used to analyze data. The research found that marketing mixed factors in terms of product and price were related to buying decision making tendency in terms of price and room size. Marketing mixed factors in terms of price, place and promotion were related to buying decision making tendency in term of word of mouth. Consumers’ buying motivation in terms of social acceptance, self-esteemed and self-actualization were related to buying decision making tendency in term of room size. In addition, motivation in self-esteemed was related to buying decision making tendency within a year.

Keywords: condominium, marketing mix, motivation, tendency of consumer decision making

Procedia PDF Downloads 309