Search results for: investment cost

Authors: Niranjan Devkota , Ram Kumar Phuya, Durga Lal Shreshta

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This paper estimates cost and benefit of adoption of climate change adaptation options available to the rural rice farmers of Nepal. Adoption of adaptation strategies, intensity of use of adaptation options, identification of labor and non-labor cost and finally per unit cost and benefit analysis of climate change adaptation were made. Multi-stage sampling technique was used to source respondents for the study and used structured questionnaire techniques to collect data from 773 households from seven districts; 3 from Terai and 4 from Hilly region of Nepal. The result revealed that there are 13 major adaptation options rice farmers practice in order to protect themselves from climatic risk. Among the given adaptation options, the first three popular adaptation options practiced by rice farmers are (i) increasing use of chemical fertilizer (60.93%) (ii) use of climate smart verities (49.29%) and (iii) change in nursery date (32.08%). Adaptation cost is obvious, based on that, the first three costly adaptation options are the alternative irrigation practice which incurred average cost of US $69.95 (US$ 1 = 102.84 Nepalese Rupees) followed by a denser plantation of local seeds ($ 20.69) and using climate smart varieties ($ 18.06). 88% farmers practiced more than one adaptation strategies on the same farm with the aim of reducing the effect of extreme climatic conditions. Total cost and revenue revealed that per unit total cost ranges from $28.34 to $32.79 whereas per unit total revenue ranges $33.4 to $49.02. Surprisingly, it is observed that farmers who do not adopt any adaptation options are able to receive highest income from per unit production. As Net Present Value (NPV) is positive and Benefit Cost Ration (BCR) is greater than one for every adaptation options that indicates the available adaptation options are profitable to the rice farmers.

Keywords: climate change, adaptation options, cost benefit analysis, rural rice farmers, Nepal

Procedia PDF Downloads 239

Authors: Ghita Benayad

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Asset allocation, which affects the long-term profitability of portfolios by distributing assets to fulfill a range of investment objectives, is the cornerstone of investment management in the dynamic and complicated world of financial markets. This paper offers a technique for optimizing strategic asset allocation with the goal of improving portfolio performance by addressing the inherent complexity and uncertainty of the market through the use of Principal Component Analysis (PCA) in a multi-objective modeling framework. The study's first section starts with a critical evaluation of conventional asset allocation techniques, highlighting how poorly they are able to capture the intricate relationships between assets and the volatile nature of the market. In order to overcome these challenges, the project suggests a PCA-driven methodology that isolates important characteristics influencing asset returns by decreasing the dimensionality of the investment universe. This decrease provides a stronger basis for asset allocation decisions by facilitating a clearer understanding of market structures and behaviors. Using a multi-objective optimization model, the project builds on this foundation by taking into account a number of performance metrics at once, including risk minimization, return maximization, and the accomplishment of predetermined investment goals like regulatory compliance or sustainability standards. This model provides a more comprehensive understanding of investor preferences and portfolio performance in comparison to conventional single-objective optimization techniques. While applying the PCA-driven multi-objective optimization model to historical market data, aiming to construct portfolios better under different market situations. As compared to portfolios produced from conventional asset allocation methodologies, the results show that portfolios optimized using the proposed method display improved risk-adjusted returns, more resilience to market downturns, and better alignment with specified investment objectives. The study also looks at the implications of this PCA technique for portfolio management, including the prospect that it might give investors a more advanced framework for navigating financial markets. The findings suggest that by combining PCA with multi-objective optimization, investors may obtain a more strategic and informed asset allocation that is responsive to both market conditions and individual investment preferences. In conclusion, this capstone project improves the field of financial engineering by creating a sophisticated asset allocation optimization model that integrates PCA with multi-objective optimization. In addition to raising concerns about the condition of asset allocation today, the proposed method of portfolio management opens up new avenues for research and application in the area of investment techniques.

Keywords: asset allocation, portfolio optimization, principle component analysis, multi-objective modelling, financial market

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Authors: Ali Mohammadi

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Every construction that is done, the most important part of attention for employers and contractors is its cost, and they always try to reduce costs so that they can compete in the market, so they estimate the cost of construction before starting their activities. The costs can be generally divided into four parts: the materials used, the equipment used, the manpower required, and the time required. In this article, we are trying to talk about the three items of equipment, manpower, and time, and examine how the use of apps can reduce the cost of construction, while due to various reasons, it has received less attention in the field of app design. Also, because we intend to use these apps in construction and they are used by engineers and experts, we define these apps as engineering apps because the idea of ​​their design must be by an engineer who works in that field. Also, considering that most engineers are familiar with programming during their studies, they can design the apps they need using simple programming software.

Keywords: layout, as-bilt, monitoring, maps

Procedia PDF Downloads 43

Authors: Cihan Çetinkaya, Eren Özceylan, Kerem Elibal

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This paper presents a solution method for selection of production facility. The motivation has been taken from a real life case, an automotive subcontractor which has two production facilities at different cities and parts. The problem is to decide which part(s) should be produced at which facility. To the best of our knowledge, until this study, there was no scientific approach about this problem at the firm and decisions were being given intuitively. In this study, some logistic cost parameters have been defined and with these parameters a mathematical model has been constructed. Defined and collected cost parameters are handling cost of parts, shipment cost of parts and shipment cost of welding fixtures. Constructed multi-objective mathematical model aims to minimize these costs while aims to balance the workload between two locations. Results showed that defined model can give optimum solutions in reasonable computing times. Also, this result gave encouragement to develop the model with addition of new logistic cost parameters.

Keywords: automotive subcontract, facility assignment, logistic costs, multi-objective models

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Authors: Chee Fai Tan, L. S. Wahidin, S. N. Khalil

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Nowadays, manufacturing cost is one of the important factors that will affect the product cost as well as company profit. There are many methods that have been used to reduce the manufacturing cost in order for a company to stay competitive. One of the factors that effect manufacturing cost is the time. Expert system can be used as a method to reduce the manufacturing time. The purpose of the expert system is to diagnose and solve the problem of design of assembly. The paper describes an architecture framework for design of assembly expert system that focuses on commercial vehicle seat manufacturing industry.

Keywords: design of assembly, expert system, vehicle seat, mechanical engineering

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Authors: Y. Long, L. Liu, K. V. Branin

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One challenge faced by procurement decision-maker during the acquisition process is how to compare similar products from different suppliers and allocate orders among different products or services. This work focuses on allocating orders among multiple suppliers considering rebate. The objective function is to minimize the total acquisition cost including purchasing cost and rebate benefit. Rebate benefit is complex and difficult to estimate at the ordering step. Rebate rules vary for different suppliers and usually change over time. In this work, we developed a system to collect the rebate policies, standardized the rebate policies and developed two-stage optimization models for ordering allocation. Rebate policy with multi-tiers is considered in modeling. The discontinuous cost function of rebate benefit is formulated for different scenarios. A piecewise linear function is used to approximate the discontinuous cost function of rebate benefit. And a Mixed Integer Programing (MIP) model is built for order allocation problem with multi-tier rebate. A case study is presented and it shows that our optimization model can reduce the total acquisition cost by considering rebate rules.

Keywords: discontinuous cost function, mixed integer programming, optimization, procurement, rebate

Procedia PDF Downloads 245

Authors: Lawong Damian Bernsah

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Neglected Tropical Diseases (NTDs) are most predominant among the poor and rural populations and are endemic in 149 countries. These diseases are the most prevalent and responsible for infecting 1.4 billion people worldwide. There are 17 neglected tropical diseases recognized by WHO that constitute the fourth largest disease health and economic burden of all communicable diseases. Five of these 17 diseases are considered for the cost analysis of this paper: lymphatic filariasis, onchocerciasis, trachoma, schistosomiasis, and soil transmitted helminth infections. WHO has proposed a roadmap for eradication and elimination by 2020 and treatments have been donated through the London Declaration by pharmaceutical manufacturers. The paper estimates the cost of NTD control programme and elimination for each NTD disease and total in Nigeria. This is necessary as it forms the bases upon which programme budget and expenditure could be based. Again, given the opportunity cost the resources for NTD face it is necessary to estimate the cost so as to provide bases for comparison. Cost of NTDs control and elimination programme is estimated using the population at risk for each NTD diseases and for the total. The population at risk is gotten from the national master plan for the 2015 - 2020, while the cost per person was gotten for similar studies conducted in similar settings and ranges from US$0.1 to US$0.5 for Mass Administration of Medicine (MAM) and between US$1 to US$1.5 for each NTD disease. The combined cost for all the NTDs was estimated to be US$634.88 million for the period 2015-2020 and US$1.9 billion for each NTD disease for the same period. For the purpose of sensitivity analysis and for robustness of the analysis the cost per person was varied and all were still high. Given that health expenditure for Nigeria (% of GDP) averages 3.5% for the period 1995-2014, it is very clear that efforts have to be made to improve allocation to the health sector in general which is hoped could trickle to NTDs control and elimination. Thus, the government and the donor partners would need to step-up budgetary allocation and also to be aware of the costs of NTD control and elimination programme since they have alternative uses. Key Words: Neglected Tropical Disease, Cost Analysis, NTD Programme Control and Elimination, Cost per Person

Keywords: Neglected Tropical Disease, Cost Analysis, Neglected Tropical Disease Programme Control and Elimination, Cost per Person

Procedia PDF Downloads 256

Authors: Aynur Kazaz, Yusif Inusah

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In the bid to improve transparency and efficiency as well as to reduce the cost of the public procurement process, Ghana started implementing an electronic Government Procurement System, known as the Ghana Electronic Procurement System (GHANEPS) in November 2019. The implementation of e-tendering technology is new to the stakeholders. Therefore, this research is aimed to identify the critical barriers to e-tendering implementation in the Ghanaian construction industry. Examples of barriers to e-tendering implementation were first identified through a literature review, and questionnaires and interview questions were prepared to gather the data. This study contributes to the in-depth understanding of global e-tendering barriers in the Ghanaian construction industry. The findings could help researchers, practitioners, and governments make strategic investment decisions and overcome e-tendering challenges.

Keywords: barriers, challenges, construction industry, e-procurement, e-tendering

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Authors: M. R. Gholizadeh, N. Bhuiyan, M. Salari

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In the near future, companies will be increasingly forced to shift their activities along a new road in order to decrease the harmful effects of their design, production and after-life on our environment. Products must meet environmental standards to not only prevent penalties but to consider the sustainability for future generations. However, the most important factor that companies will face is selecting a reasonable strategy to maximize their profit. Thus, companies need to have precise forecast from their profit after design stage through Trade-off analysis. This paper is an attempt to introduce a mathematical model that considers effective factors that impact the total profit when products are designed for resource and energy efficiency or recyclability. The modification is according to different strategies based on a Cost-Volume-Profit model. Here, the cost structure consists of Recycling cost, Development cost, Ramp-up cost, Production cost, and Pollution cost. Also, the model shows the effect of implementation of design for recyclable on revenue structure through revenue of used parts and revenue of recycled materials. A numerical example is used to evaluate the proposed model. Results show that fulfillment of Green Product Development not only can reduce the environmental impact of products but also it will increase profit of company in long term.

Keywords: green product, design for environment, C-V-P model, trade-off analysis

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Authors: Abdulrahman Fahim M. Alsulami

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The current research seeks to explore the regulation of vaccine-related IP rights in light of the areas of divergence between the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement and investment treaties. The study is conducted in the context of the COVID-19 pandemic; therefore, it seems natural that a specific chapter is devoted to the examination of vaccine arrangements related to vaccine supplies. The chapter starts with the examination of a typical vaccine from the perspective of IP rights. It presents the distinctive features of vaccines as pharmaceutical products and investments, reviews the basics of their patent protection, reviews vaccines’ components, and discusses IPR protection of different components of vaccines. The subsection that focuses on vaccine development and licensing reviews vaccine development stages investigates differences between vaccine licensing in different countries and presents barriers to vaccine licensing. The third subsection, at the same time, introduces the existing arrangements related to COVID-19 vaccine supplies, including COVAX arrangements, international organizations’ assistance, and direct negotiations between governments and vaccine manufacturers.

Keywords: bilateral investment treaties, COVID-19 vaccine, IP rights, TRIPs agreement

Procedia PDF Downloads 167

Authors: Robin Molinier

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Industrial symbiosis (I.S) rely on two modes of cooperation that are infrastructure sharing and resource substitution to obtain economic and environmental benefits. The former consists in the intensification of use of an asset while the latter is based on the use of waste, fatal energy (and utilities) as alternatives to standard inputs. Both modes, in fact, rely on the shift from a business-as-usual functioning towards an alternative production system structure so that in a business point of view the distinction is not clear. In order to investigate the way those cooperation modes can be distinguished, we consider the stakeholders' interplay in the business model structure regarding their resources and requirements. For infrastructure sharing (following economic engineering literature) the cost function of capacity induces economies of scale so that demand pooling reduces global expanses. Grassroot investment sizing decision and the ex-post pricing strongly depends on the design optimization phase for capacity sizing whereas ex-post operational cost sharing minimizing budgets are less dependent upon production rates. Value is then mainly design driven. For resource substitution, synergies value stems from availability and is at risk regarding both supplier and user load profiles and market prices of the standard input. Baseline input purchasing cost reduction is thus more driven by the operational phase of the symbiosis and must be analyzed within the whole sourcing policy (including diversification strategies and expensive back-up replacement). Moreover, while resource substitution involves a chain of intermediate processors to match quality requirements, the infrastructure model relies on a single operator whose competencies allow to produce non-rival goods. Transaction costs appear higher in resource substitution synergies due to the high level of customization which induces asset specificity, and non-homogeneity following transaction costs economics arguments.

Keywords: business model, capacity, sourcing, synergies

Procedia PDF Downloads 159

Authors: Dagmara Wrzecionkowska

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Mass media campaigns against obesity are often designed to impact large audiences. This usually means that their audience is defined based on general demographic characteristics like age, gender, occupation etc., not taking into account psychographics like behavior, motivations, wants, etc. Using psychographics, as the base for the audience segmentation, is a common practice in case of successful campaigns, as it allows developing more relevant messages. It also serves a purpose of identifying key segments, those that generate the best return on investment. For a health campaign, that would be segments that have the best chance of being converted into healthy lifestyle at the lowest cost. This paper presents the limitations of the demographic targeting, based on the findings from the reception study of IMSS anti-obesity TV commercials and proposes mothers as the first level of segmentation, in the process of identifying the key segment for these campaigns.

Keywords: anti-obesity campaigns, mothers, segmentation, targeting

Procedia PDF Downloads 389

Authors: Bahareh Zare

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The theory of the investment model of dating infidelity maintains that loyalty is an essential power within romantic relationships. Loyalty signifies both motivation and psychological attachment to maintain a relationship. This study examined the relationship between the Big Five Personality Factors (Extraversion, Neuroticism, Openness, Conscientiousness, and Agreeableness), probability of marital infidelity, and risk of divorce. The participants completed NEO-FFI, INFQ (infidelity questionnaire) and were interviewed by OHI (Oral History Interview). The results demonstrated that extraversion and agreeableness traits were significant predictors for the probability of infidelity and risk of divorce. In addition, conscientiousness predicted the probability of infidelity, while neuroticism predicted the risk of divorce.

Keywords: five factors personality, infidelity, risk of divorce, investment theory

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Authors: Teboho J. Mosikari, Johannes T. Tsoku, Diteboho L. Xaba

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The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.

Keywords: Feldstein and Horioka puzzle, saving and investment, panel models, BRICS countries

Procedia PDF Downloads 243

Authors: A. Brand, S. Burgalat, E. Chastel, M. Jumeline, L. Teilhac

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The paper presents actual benefits and drawbacks of a multidirectional Hovercraft conceived with limited resources and designed for indoor exploration. Recent developments in the field have led to apparition of very powerful automotive systems capable of very high calculation and exploration in complex unknown environments. They usually propose very complex algorithms, high precision/cost sensors and sometimes have heavy calculation consumption with complex data fusion. Those systems are usually powerful but have a certain price and the benefits may not be worth the cost, especially considering their hardware limitations and their power consumption. Present approach is to build a compromise between cost, power consumption and results preciseness.

Keywords: Hovercraft, indoor exploration, autonomous, multidirectional, wireless control

Procedia PDF Downloads 400

Authors: Rong Wang, Sandra Hasanefendic, Elizabeth von Hauff, Bart Bossink

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Technological learning and learning curve models have been continuously used to estimate the photovoltaics (PV) cost development over time for the climate mitigation targets. They can integrate a number of technological learning sources which influence the learning process. Yet the accuracy and realistic predictions for cost estimations of PV development are still difficult to achieve. This paper develops four hypothetical-alternative learning curve models by proposing different combinations of technological learning sources, including both local and global technology experience and the knowledge stock. This paper specifically focuses on the non-linear relationship between the costs and technological learning source and their dynamic interaction and uses the system dynamics approach to predict a more accurate PV cost estimation for future development. As the case study, the data from China is gathered and drawn to illustrate that the learning curve model that incorporates both the global and local experience is more accurate and realistic than the other three models for PV cost estimation. Further, absorbing and integrating the global experience into the local industry has a positive impact on PV cost reduction. Although the learning curve model incorporating knowledge stock is not realistic for current PV cost deployment in China, it still plays an effective positive role in future PV cost reduction.

Keywords: photovoltaic, system dynamics, technological learning, learning curve

Procedia PDF Downloads 79

Authors: Graziela D. de Azevedo, Livia M. Pagotto, Mario P. Monzoni, Neto

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This article aims to discuss partnerships between public administration and private social investment aimed at territorial development. There has been some approximation in Brazil from private social investors with initiatives aiming at territorial development policies in highly vulnerable territories or in places where the business sector operates. This represents this paper’s major justification: on the advance of academic debate about how businesses, institutes, and foundations have been working alongside local governments, taking the territory as the reference for joint action. The research was based on the literature on governance and territorial development and adopted a mixed iterative approach (inductive and deductive) through an interpretative lens so as to develop an analysis structure that complements and expands knowledge about the contribution of public policies and private social investments for territorial development in Brazil. The analysis of 15 cases based on three distinct blocks (territorial development plans, articulation for education, and thematic approaches) has made it possible to identify common elements regarding the motivations of partnerships, the specific needs of the actors involved, and the priority drivers for stimulating development. Findings include discussion on the leading role of territories in their development paths, on the institutionalization and strengthening of capacities, and on long-term perspectives in development strategies.

Keywords: private social investment, public administration, territorial governance, territorial development

Procedia PDF Downloads 193

Authors: Chien-Yeh Hsu, Yuan-Ching Chiang, Zi-Jie Chien, Sih-Li Chen

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In this study, a field experiment and performance analysis of air-tunnel heat exchanger integrated with water-filled raft foundation of residential building were performed. In order to obtain better performance, conventional applications of air-tunnel inevitably have high initial cost or issues about insufficient installation space. To improve the feasibility of air tunnel heat exchanger in high-density housing, an integrated system consisting of air pipes immersed in the water-filled raft foundation was presented, taking advantage of immense amount of water and relatively stable temperature in raft foundation of building. The foundation-integrated air tunnel was applied to a residential building located in Yilan, Taiwan, and its thermal performance was measured in the field experiment. The results indicated that the cooling potential of integrated system was close to the potential of soil-based EAHE at 2 m depth or deeper. An analytical model based on thermal resistance method was validated by measurement results, and was used to carry out the dimensioning of foundation-integrated air tunnel. The discrepancies between calculated value and measured data were less than 2.7%. In addition, the return-on-investment with regard to thermal performance and economics of the application was evaluated. Because the installation for air tunnel is scheduled in the building foundation construction, the utilization of integrated system spends less construction cost compare to the conventional earth-air tunnel.

Keywords: air tunnel, ground heat exchanger, raft foundation, residential building

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Authors: Juan Bojórquez, Sonia E. Ruiz, Edén Bojórquez, David de León Escobedo

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A life-cycle optimization procedure to establish the best load factors combinations for seismic design of buildings, is proposed. The expected cost of damage from future earthquakes within the life of the structure is estimated, and realistic cost functions are assumed. The functions include: Repair cost, cost of contents damage, cost associated with loss of life, cost of injuries and economic loss. The loads considered are dead, live and earthquake load. The study is performed for reinforced concrete buildings located in Mexico City. The buildings are modeled as multiple-degree-of-freedom frame structures. The parameter selected to measure the structural damage is the maximum inter-story drift. The structural models are subjected to 31 soft-soil ground motions recorded in the Lake Zone of Mexico City. In order to obtain the annual structural failure rates, a numerical integration method is applied.

Keywords: load factors, life-cycle analysis, seismic design, reinforced concrete buildings

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Authors: Kenichiro Hida, Shin-Ichi Kuribayashi

Abstract:

NFV-based network implements a variety of network functions with software on general-purpose servers, and this allows the network operator to select any capabilities and locations of network functions without any physical constraints. In this paper, we evaluate the influence of the maximum tolerable network delay on the virtual routing function deployment guidelines which the authors proposed previously. Our evaluation results have revealed the following: (1) the more the maximum tolerable network delay condition becomes severe, the more the number of areas where the route selection function is installed increases and the total network cost increases, (2) the higher the routing function cost relative to the circuit bandwidth cost, the increase ratio of total network cost becomes larger according to the maximum tolerable network delay condition.

Keywords: NFV (Network Functions Virtualization), resource allocation, virtual routing function, minimum total network cost

Procedia PDF Downloads 231

Authors: Mariana Volpini, Volker Bartenbach, Marcos Pinotti, Robert Riener

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Restoration of gait ability is an important task in the rehabilitation of people with neurological disorders presenting a great impact in the quality of life of an individual. Based on the motor learning concept, robotic assisted treadmill training has been introduced and found to be a feasible and promising therapeutic option in neurological rehabilitation but unfortunately it is not available for most patients in developing countries due to the high cost. This paper presents the concept of a low cost rehabilitation robot to help consolidate the robotic-assisted gait training as a reality in clinical practice in most countries. This work indicates that it is possible to build a simpler rehabilitation device respecting the physiological trajectory of the ankle.

Keywords: bioengineering, gait therapy, low cost rehabilitation robot, rehabilitation robotics

Procedia PDF Downloads 415

Authors: Pintip Vajarothai, Saad Al-Jibouri, Johannes I. M. Halman

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Public investment projects are primarily aimed at achieving development strategies to increase national economies of scale and overall improvement in a country. However, experience shows that public projects, particularly in developing countries, struggle or fail to fulfill the immediate needs of local communities. In many cases, the reason for that is that projects are selected in a subjective manner and that a major part of the problem is related to the evaluation criteria and techniques used. The evaluation process is often based on a broad strategic economic effects rather than real benefits of projects to society or on the various needs from different levels (e.g. national, regional, local) and conditions (e.g. long-term and short-term requirements). In this paper, an extensive literature review of the types of criteria used in the past by various researchers in project evaluation and selection process is carried out and the effectiveness of such criteria and techniques is discussed. The paper proposes substitute social and project sustainability criteria to improve the conditions of local people and in particular the disadvantaged groups of the communities. Furthermore, it puts forward a way for modelling the interaction between the selected criteria and the achievement of the social goals of the affected community groups. The described work is part of developing a broader decision model for public investment project selection by integrating various aspects and techniques into a practical methodology. The paper uses Thailand as a case to review what and how the various evaluation techniques are currently used and how to improve the project evaluation and selection process related to social and sustainability issues in the country. The paper also uses an example to demonstrates how to test the feasibility of various criteria and how to model the interaction between projects and communities. The proposed model could be applied to other developing and developed countries in the project evaluation and selection process to improve its effectiveness in the long run.

Keywords: evaluation criteria, developing countries, public investment, project selection methodology

Procedia PDF Downloads 258

Authors: Yun-na Wu, Zhen Wang

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Due to the economic downturn and the deterioration of the living environment, the development of residential buildings as high energy consuming building is gradually changing from “extensive” to green building in China. So, the evaluation system of green building is continuously improved, but the current evaluation work has the following problems: (1) There are differences in the cost of the actual investment and the purchasing power of residents, also construction target of green residential building is single and lacks multi-objective performance development. (2) Green building evaluation lacks regional characteristics and cannot reflect the different regional residents demand. (3) In the process of determining the criteria weight, the experts’ judgment matrix is difficult to meet the requirement of consistency. Therefore, to solve those problems, questionnaires which are about the green residential building for Ningxia area are distributed, and the results of questionnaires can feedback the purchasing power of residents and the acceptance of the green building cost. Secondly, combined with the geographical features of Ningxia minority areas, the evaluation criteria system of green residential building is constructed. Finally, using the improved group AHP method and the grey clustering method, the criteria weight is determined, and a real case is evaluated, which is located in Xing Qing district, Ningxia. A conclusion can be obtained that the professional evaluation for this project and good social recognition is basically the same.

Keywords: evaluation, green residential building, grey clustering method, group AHP

Procedia PDF Downloads 380

Authors: Nesreddine Djafar Henni, Nassim Djedoui, Rachid Chebili

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Recent decades have witnessed significant efforts being made to optimize different types of structures and components. The concept of cost optimization in reinforced concrete structures, which aims at minimizing financial resources while ensuring maximum building safety, comprises multiple materials, and the objective function for their optimal design is derived from the construction cost of the steel as well as concrete that significantly contribute to the overall weight of reinforced concrete (RC) structures. To achieve this objective, this work has been devoted to optimizing the structural design of 3D RC frame buildings which integrates, for the first time, the Algerian regulations. Three different test examples were investigated to assess the efficiency of our work in optimizing RC frame buildings. The hybrid GWOPSO algorithm is used, and 30000 generations are made. The cost of the building is reduced by iteration each time. Concrete and reinforcement bars are used in the building cost. As a result, the cost of a reinforced concrete structure is reduced by 30% compared with the initial design. This result means that the 3D cost-design optimization of the framed structure is successfully achieved.

Keywords: optimization, automation, API, Malab, RC structures

Procedia PDF Downloads 30

Authors: Ernesto Ghini

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Workplace accidents are an unfortunate reality. However, they are also predictable and avoidable. We conducted research into a variety of legislation covering lone working, and conducted a study into the use of connected technology and how it can help improve the safety of lone workers in Latin America. We implemented quantitative research into regulations coupled with case study research into a real-life scenario that demonstrated the benefits of technology, and discuss our findings in this paper. Connected safety solutions can improve the bottom line, delivering significant return on investment in terms of improved efficiency and the avoidance of cost associated with worker injury. And, most importantly, such solutions, as demonstrated through our research, make the difference between life and death in time-critical incident situations.

Keywords: ione worker, legislation, technology, connected safety, connectivity

Procedia PDF Downloads 64

Authors: S. Burgalat, L. Teilhac, A. Brand, E. Chastel, M. Jumeline

Abstract:

The paper presents actual benefits and drawbacks of a multidirectional autonomous hovercraft conceived with limited resources and designed for indoor exploration. Recent developments in the field have led to the apparition of very powerful automotive systems capable of very high calculation and exploration in complex unknown environments. They usually propose very complex algorithms, high precision/cost sensors and sometimes have heavy calculation consumption with complex data fusion. These systems are usually powerful but have a certain price, and the benefits may not be worth the cost, especially considering their hardware limitations and their power consumption. The present approach is to build a compromise between cost, power consumption and results preciseness.

Keywords: hovercraft, indoor exploration, autonomous, multidirectional, wireless control

Procedia PDF Downloads 260

Authors: Shannon Hearney, Jeffrey Hoch

Abstract:

Pancreatic cancer is a notoriously costly and deadly form of cancer. Many types of treatment centers exist for patients to seek care from, including high-volume centers which have shown promise to provide the highest quality of care. While it may be true that this type of center provides the best care it is unclear if that care is cost-effective. Studies in the US have confirmed that high-volume hospitals do provide higher quality of care but have shown inconsistencies in the cost-effectiveness of that care. Other studies, like those from Finland have shown that high-volume centers had lower mortality and lower costs than low-volume centers. This paper thus seeks to review the current scientific literature to better understand if high-volume centers are cost-effective in delivering care in both a European setting and in the US. A review of major reference databases such as Medline, Embase and PubMed will be conducted for cost-effectiveness studies on the surgical treatment of pancreatic cancer at high-volume centers. Possible MeSH terms to be included, but not limited to, are: “pancreatic cancer”, “cost analysis”, “cost-effectiveness”, “economic evaluation”, “pancreatic neoplasms”, “surgical”, and “high-volume”. Studies must also have been available in the English language. This review will encompass European scientific literature, as well as those in the US. Based on our preliminary findings, we anticipate high-volume hospitals to provide better care at greater costs. We anticipate that high-volume hospitals may be cost-effective in different contexts depending on the national structure of a healthcare system. Countries with more centralized and socialized healthcare may yield results that are more cost-effective. High-volume centers may differ in their cost-effectiveness of the surgical care of pancreatic cancer internationally especially when comparing those in the United States to others throughout Europe.

Keywords: cost-effectiveness analysis, economic evaluation, pancreatic cancer, scientific literature review

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Authors: Yang-Kuei Lin, Yin-Yi Chou

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In this research, we have considered operating room scheduling problem. The objective is to minimize total operating cost. The total operating cost includes idle cost and overtime cost. We have proposed a dispatching rule that can guarantee to find feasible solutions for the studied problem efficiently. We compared the proposed dispatching rule with the optimal solutions found by solving Inter Programming, and other solutions found by using modified existing dispatching rules. The computational results indicates that the proposed heuristic can find near optimal solutions efficiently.

Keywords: assignment, dispatching rule, operation rooms, scheduling

Procedia PDF Downloads 216

Authors: S. Abdulkadir, I. Y. Moh’d, S. U. Kunya, U. Nuruddeen

Abstract:

The basis of any contract formation between the client and contractor is the budgeted cost and the estimated duration of projects. These variables are paramount important to project's sponsor in a construction projects and in assessing the success or viability of construction projects. Despite the availability of various techniques of cost and time control, many projects failed to achieve their initial estimated cost and time. The paper evaluate the inhibiting factors of cost and time control in Nigerian construction practice and comparing the result with the United Kingdom practice as identified by one researcher. The populations of the study are construction professionals within Bauchi and Gombe state, Nigeria, a judgmental sampling employed in determining the size of respondents. Descriptive statistics used in analyzing the data in SPSS. Design change, project fraud and corruption, financing and payment of completed work found to be common among the top five inhibiting factors of cost and time control in the study area. Furthermore, the result had shown some comprising with slight contrast as in the case of United Kingdom practice. Study recommend the adaptation of mitigation measures developed in the UK prior to assessing its effectiveness and so also developing a mitigating measure for other top factors that are not within the one developed in United Kingdom practice. Also, it recommends a wider assessing comparison on the modify inhibiting factors of cost and time control as revealed by the study to cover almost all part of Nigeria.

Keywords: comparison, cost, inhibiting factor, United Kingdom, time

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Authors: Kenneth O. Otasowie, Matthew Ikuabe, Clinton Aigbavboa, Ayodeji Oke

Abstract:

Construction project cost are not only made up of production costs. This cost comprises of many other elements such as the preparation of a bidding document, cost estimations, drafting contractual agreements and monitoring that contractual obligations are met. Several studies have stressed the need for transaction costs (TC) to be defined in a way that covers all phases of a project and not only the pre-contract phase. Hence, this study aims to appraise transaction cost in South African (SA) construction projects by assessing what constitutes transaction cost, influencing factors and possible optimisation measures. A survey design was adopted. A total number of eighty (80) questionnaires were administered to quantity surveyors, procurement managers and project managers in Guateng Province, SA and seventy-two (72) were returned and found suitable for analysis. Collected data was analysed using percentage, mean item score, standard deviation, one-sample t-test. The findings show that external technical interaction, uncertainty, human factors are the most significant constituents of TC in SA, while technical competency, experience in similar project type and project characteristics are the leading influencing factors. Furthermore, understanding project characteristics, clear communication and technically competent project teams are most of the significant measures for optimising TC in SA construction projects. Therefore, this study recommends that a competent project team and a clear communication are fundamental to proper management of TC in SA construction projects.

Keywords: construction projects, project cost, South Africa, transaction cost

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