Search results for: investment project

Authors: Matthias Stange

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Building Information Modelling (BIM) is one of the most promising methods in the building design process and plays an important role in the digitalization of the Architectural, Engineering, and Construction (AEC) Industry. The application of BIM is seen as the key enabler for increasing productivity in the construction industry. The model-based collaboration using the BIM method is intended to significantly reduce cost increases, schedule delays, and quality problems in the planning and construction of buildings. Numerous qualitative studies based on expert interviews support this theory and report perceived benefits from the use of BIM in terms of achieving project objectives related to cost, schedule, and quality. However, there is a large research gap in analysing quantitative data collected from real construction projects regarding the actual benefits of applying BIM based on representative sample size and different application regions as well as different project typologies. In particular, the influence of the project-related BIM maturity level is completely unexplored. This research project examines primary data from 105 construction projects worldwide using quantitative research methods. Projects from the areas of residential, commercial, and industrial construction as well as infrastructure and hydraulic engineering were examined in application regions North America, Australia, Europe, Asia, MENA region, and South America. First, a descriptive data analysis of 6 independent project variables (BIM maturity level, application region, project category, project type, project size, and BIM level) were carried out using statistical methods. With the help of statisticaldata analyses, the influence of the project-related BIM maturity level on 6 dependent project variables (deviation in planning time, deviation in construction time, number of planning collisions, frequency of rework, number of RFIand number of changes) was investigated. The study revealed that most of the benefits of using BIM perceived through numerous qualitative studies have not been confirmed. The results of the examined sample show that the application of BIM did not have an improving influence on the dependent project variables, especially regarding the quality of the planning itself and the adherence to the schedule targets. The quantitative research suggests the conclusion that the BIM planning method in its current application has not (yet) become a recognizable increase in productivity within the planning and construction process. The empirical findings indicate that this is due to the overall low level of BIM maturity in the projects of the examined sample. As a quintessence, the author suggests that the further implementation of BIM should primarily focus on an application-oriented and consistent development of the project-related BIM maturity level instead of implementing BIM for its own sake. Apparently, there are still significant difficulties in the interweaving of people, processes, and technology.

Keywords: AEC-process, building information modeling, BIM maturity level, project results, productivity of the construction industry

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Authors: Farah Wahida Binti Mohamad Said

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Islamic culture is the way of life a Muslim is defined by the Qur’an and Sunnah. On the other hand, Western culture is fashioned by a host of people; Capitalists, atheists, people who believe in same-gender marriages and others of a similar nature. The main issue that faced by the Muslim in Malaysia is the effect of western culture on Muslim lifestyle. This is because of the influence from western culture that dominates mind of the Muslim and also impressed on their lifestyle. Practically, majority all things have connected with western culture. However, the main objective for this project is to develop the effect of western culture on Muslim lifestyle. This project also focuses on a few aspects that relate with cultural of Muslim and western culture nowadays. This paper will include a few method .The methods for this project are a video, interview etc. Another methodology we will put on next paper for more detail information. As a result, this research found that western cultural will be effect on Muslim lifestyle.

Keywords: effect of western culture, Muslim lifestyle, western culture, western and Muslim culture

Procedia PDF Downloads 517

Authors: Shang-Hua Wu, Rong-Chi Chang, Horng–Twu Liaw

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Nowadays, competencies of e-learning project personnel are very important in assisting them in offering courses, serving students in an effective way, leveraging advantages, strengthen their relationships with potential students, etc. among e-learning platforms, MOOCs has recently attracted increasing focuses in distance education since it can be conducted for a large numbers of virtual learners. Nonetheless, since MOOCs is a relatively new e-learning platform, top concerns have been paid to what competencies are important for e-learning personnel to consider. Taking this need, this research aimed to carry out an in-depth exploration of competency requirements of MOOCs (e-learning) project personnel in Taiwan vocational schools. Data were collected through thorough literature reviews and discussions and competency analysis was carried out using Delphi technique questionnaires. The results show that that MOOCs (e-learning) project personnel’ professional competency lie in three main dimensions, among which ‘demand analysis competency’ (i.e., containing 10 major competences and 48 subordinate capabilities) is the most important competency, followed by ‘project management competency’ (i.e., comprising 6 major competences and 31 secondary capabilities), and finally ‘digital content production competency’ (i.e., including 12 major competences and 79 secondary capabilities). As such, in Taiwan context with different organizational scales and market sizes, the e-learning competency items and unique experience/ achievements throughout the promotion process obtained in this research will provide useful references for academic institutions in promoting e-learning.

Keywords: competency analysis, Delphi technique questionnaire, e-learning, massive open online courses

Procedia PDF Downloads 285

Authors: Khaled Hesham Hyari, Amjad Almani

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Construction projects in the public sector are commonly awarded through competitive bidding. In the last decade, the Construction projects environment in the Middle East went through many changes. These changes have been caused by different factors including the economic crisis, delays in monthly payments, international competition and reduced number of projects. These factors had a great impact on the bidding behaviors of contractors and their pricing strategies. This paper examines the competition characteristics in public construction projects through an analysis of bidding results of contractors in public construction projects over a period of 6 years (2006-2011) in Jordan. The analyzed projects include all categories of projects such as infrastructure, buildings, transportation and engineering services (design and supervision contracts). Data for the projects were obtained from the General Tender’s Directorate in Jordan and includes 462 projects. The analysis performed in this projects includes, studying the bid spread in all projects as it is an indication of the level of competition in the analyzed bids. The analysis studied the factors that affect bid spread such as number of bidders, Value of the project, Project category and years. It also studying the “Signal to Noise Ratio” in all projects as it is an indication of the accuracy of cost estimating performed by competing bidders and bidder´s evaluation of project risks. The analysis performed includes the relationship between signal to noise ratio and different parameters such as project category, number of bidders and changes over years. Moreover, the analysis includes determining the bidder´s aggressiveness in bidding as it is an indication of competition level in such projects. This was performed by determining the pack price which can be considered as the true value of the project and comparing it with the lowest bid submitted for each project to determine the level of aggressiveness in submitted bids. The analysis performed in this project should prove to be useful to owners in understanding bidding behaviors of contractors and pointing out areas that needs improvement in preparing bidding documents. Also the project should be useful to contractors in understanding the competitive bidding environment and should help them to improve their bidding strategies to maximize the success rate in obtaining contracts.

Keywords: construction projects, competitive bidding, public construction, competition

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Authors: Faisel Elramalli, Ibrahim Althomali Amjad Sabbagh, Dhananjay Tambe

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SPEC CPU benchmarks are used to evaluate the performance of CPUs on computer systems. In our project we are going to use SPEC CPU suite that contains several benchmarks running on two different compilers gcc and icc in different optimizations levels to evaluate the performance of a CPU. The motivation of this project is to find out which compiler and in which optimization level makes the CPU reaches the best performance. The results of that evaluation will help users of these compilers to choose the best compiler and optimization level that perform efficiently for their work. In other words, it will give users the best performance of the CPU while doing their works. This project is interesting since it will provide the method used to measure the performance of CPU and how different optimization levels of compilers can help achieve a higher performance. Moreover, it will give a good understanding of how benchmarks are used to evaluate a CPU performance. For the reader, in reality SPEC CPU benchmarks are used to measure the performance of new released CPUs to be compared to other CPUs.

Keywords: SPEC, CPU, GCC, ICC, copilers

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Authors: Maria Lucília Borges

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This article presents the creation and design process of the "patchwork map" made for the project “Santo Amaro em Rede” (Santo Amaro on Web). The project was carried out in 2009 by SESC – SP – Brazil (Social Service for the Commerce of São Paulo) in partnership with Instituto Pólis. It is a mapping of socio-cultural dynamics of São Paulo’s South Zone and neighboring municipalities.

Keywords: affective map, cartography, São Paulo city, space, patchwork

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Authors: Abdulkarim Yusuf

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Motivation: The Nigerian economy has seen significant macroeconomic instability, fuelled mostly by an overreliance on fluctuating oil revenues. The rising disparity between tax receipts and government spending in Nigeria necessitates government borrowing to fund the anticipated pace of economic growth. Rising public debt and fiscal sustainability are limiting the government's ability to invest in key infrastructure that promotes private investment and growth in Nigeria. Objective: This paper fills an empirical research vacuum by examining the impact of public debt on fiscal sustainability in Nigeria, given the significance of fiscal stability in decreasing poverty and the constraints that an unsustainable debt burden imposes on it. Data and method: Annual time series data covering the period 1980 to 2022 exposed to conventional and structural breaks stationarity tests and the Autoregressive Distributed Lag estimation approach were adopted for this study. Results: The results reveal that domestic debt stock, debt service payment, foreign reserve stock, exchange rate, and private investment all had a major adverse effect on fiscal stability in the long and short run, corroborating the debt overhang and crowding-out hypothesis. External debt stock, prime lending rate, and degree of trade openness, which boosted fiscal stability in the long run, had a major detrimental effect on fiscal stability in the short run, whereas foreign direct investment inflows had an important beneficial impact on fiscal stability in both the long and short run. Implications: The results indicate that fiscal measures that inspire domestic resource mobilization, sustainable debt management techniques, and dependence on external debt to boost deficit financing will improve fiscal stability and drive growth.

Keywords: ARDL co-integration, debt overhang, debt servicing, fiscal stability, public debt

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Authors: Gaurav Gupta, Jitendra Mahakud

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This study focuses on the significance of internal financing constraints on the determination of corporate fixed investments in the case of Indian manufacturing companies. Financing constraints companies which have less internal fund or retained earnings face more transaction and borrowing costs due to imperfections in the capital market. The period of study is 1999-2000 to 2013-2014 and we consider 618 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test, and Hausman test results conclude the suitability of the fixed effect model for the estimation. The cash flow and liquidity of the company have been used as the proxies for the internal financial constraints. In accordance with various theories of corporate investments, we consider other firm specific variable like firm age, firm size, profitability, sales and leverage as the control variables in the model. From the econometric analysis, we find internal cash flow and liquidity have the significant and positive impact on the corporate investments. The variables like cost of capital, sales growth and growth opportunities are found to be significantly determining the corporate investments in India, which is consistent with the neoclassical, accelerator and Tobin’s q theory of corporate investment. To check the robustness of results, we divided the sample on the basis of cash flow and liquidity. Firms having cash flow greater than zero are put under one group, and firms with cash flow less than zero are put under another group. Also, the firms are divided on the basis of liquidity following the same approach. We find that the results are robust to both types of companies having positive and negative cash flow and liquidity. The results for other variables are also in the same line as we find for the whole sample. These findings confirm that internal financing constraints play a significant role for determination of corporate investment in India. The findings of this study have the implications for the corporate managers to focus on the projects having higher expected cash inflows to avoid the financing constraints. Apart from that, they should also maintain adequate liquidity to minimize the external financing costs.

Keywords: cash flow, corporate investment, financing constraints, panel data method

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Authors: Saud Al Mahdi

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Traditionally,portfolio managers have been discouraged from timing the market. This means, for example, that equity managers have been forced to adhere strictly to a benchmark with static or relatively stable components, such as the SP 500 or the Russell 3000. This means that the portfolio’s exposures to all risk factors should mimic as closely as possible the corresponding exposures of the benchmark. The main risk factor, of course, is the market itself. Effectively, a long-only portfolio would be constrained to have a beta 1. More recently, however, managers have been given greater discretion to adjust their portfolio’s risk exposures (in particular, the beta of their portfolio) dynamically to match the manager’s beliefs about future performance of the risk factors themselves. This freedom translates into the manager’s ability to adjust the portfolio’s beta dynamically. These strategies have come to be known as smart beta strategies. Adjusting beta dynamically amounts to attempting to "time" the market; that is, to increase exposure when one anticipates that the market will rise, and to decrease it when one anticipates that the market will fall. Traditionally, market timing has been believed to be impossible to perform effectively and consistently. Moreover, if a majority of market participants do it, their combined actions could destabilize the market. The aim of this project is to investigate so-called smart beta strategies to determine if they really can add value, or if they are merely marketing gimmicks used to sell dubious investment strategies.

Keywords: beta, alpha, active portfolio management, trading strategies

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Authors: Razan Salem

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Men and women have different approaches towards investing, both in terms of strategies and risk attitudes. This study aims to focus mainly on investigating the financial risk behaviors of Arab women investors and to examine the financial risk tolerance levels of Arab women relative to Arab men investors. Using survey data on 547 Arab men and women investors, the results of Wilcoxon Signed-Rank (One-Sample) test Mann-Whitney U test reveal that Arab women are risk-averse investors and have lower financial risk tolerance levels relative to Arab men. Such findings can be explained by the fact of women's nature and lower investment literacy levels. Further, the current political uncertainty in the Arab region may be considered as another explanation of Arab women’s risk aversion behavior. The study's findings support the existing literature by validating the stereotype of “women are more risk-averse than men” in the Arab region. Overall, when it comes to investment and financial behaviors, women around the world behave similarly.

Keywords: Arab region, culture, financial risk behavior, gender differences, women investors

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Authors: Liwiusz Wojciechowski

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Research background: The current knowledge does not give a clear answer to the question of the impact of FDI on productivity. Results of the empirical studies are still inconclusive, no matter how extensive and diverse in terms of research approaches or groups of countries analyzed they are. It should also take into account the possibility that FDI and productivity are linked and that there is a bidirectional relationship between them. This issue is particularly important because on one hand FDI can contribute to changes in productivity in the host country, but on the other hand its level and dynamics may imply that FDI should be undertaken in a given country. As already mentioned, a two-way relationship between the presence of foreign capital and productivity in the host country should be assumed, taking into consideration the endogenous nature of FDI. Purpose of the article: The overall objective of this study is to determine the causality between foreign direct investment and total factor productivity in host county in terms of different relative absorptive capacity across countries. In the classic sense causality among variables is not always obvious and requires for testing, which would facilitate proper specification of FDI models. The aim of this article is to study endogeneity of selected macroeconomic variables commonly being used in FDI models in case of Visegrad countries: main recipients of FDI in CEE. The findings may be helpful in determining the structure of the actual relationship between variables, in appropriate models estimation and in forecasting as well as economic policymaking. Methodology/methods: Panel and time-series data techniques including GMM estimator, VEC models and causality tests were utilized in this study. Findings & Value added: The obtained results allow to confirm the hypothesis states the bi-directional causality between FDI and total factor productivity. Although results differ from among countries and data level of aggregation implications may be useful for policymakers in case of providing foreign capital attracting policy.

Keywords: endogeneity, foreign direct investment, multi-equation models, total factor productivity

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Authors: Enas R. Shouman

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Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

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Authors: Rui Serôdio, Alexandra Serra, José Albino Lima, Luísa Catita, Paula Lopes

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We will present the outline of the Project SIA (Social Inclusion through Accessibility) focusing in one of its core components: how our applied research model contributes to define community participation as a pillar for strategic and political agenda amongst local authorities. Project ISA, supported by EU regional funding, was design as part of a broader model developed by SIMLab–Social Inclusion Monitoring Laboratory, in which the relation University-Community is a core element. The project illustrates how University of Porto developed a large scale project of applied psychology research in a close partnership with 18 municipalities that cover almost all regions of Portugal, and with a private architecture enterprise, specialized in inclusive accessibility and “design for all”. Three fundamental goals were defined: (1) creation of a model that would promote the effective civic participation of local citizens; (2) the “voice” of such participation should be both individual and collective; (3) the scientific and technical framework should serve as one of the bases for political decision on inclusive accessibility local planning. The two main studies were run in a standardized model across all municipalities and the samples of the three modalities of community participation were the following: individual participation based on 543 semi-structured interviews and 6373 inquiries; collective participation based on group session with 302 local citizens. We present some of the broader findings of Project SIA and discuss how they relate to our applied research model.

Keywords: applied psychology, collective identity, community participation, inclusive accessibility

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Authors: Rusudan Kinkladze, Guguli Kurashvili, Ketevan Chitaladze

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Foreign direct investment is a driving force in the development of the interdependent national economies, and the study and analysis of investments is an urgent problem. It is particularly important for transitional economies, such as Georgia, and the study and analysis of investments is an urgent problem. Consequently, the goal of the research is the study and analysis of direct foreign investments in Georgia, and identification and forecasting of modern trends, and covers the period of 2006-2015. The study uses the methods of statistical observation, grouping and analysis, the methods of analytical indicators of time series, trend identification and the predicted values are calculated, as well as various literary and Internet sources relevant to the research. The findings showed that modern investment policy In Georgia is favorable for domestic as well as foreign investors. Georgia is still a net importer of investments. In 2015, the top 10 investing countries was led by Azerbaijan, United Kingdom and Netherlands, and the largest share of FDIs were allocated in the transport and communication sector; the financial sector was the second, followed by the health and social work sector, and the same trend will continue in the future. 

Keywords: foreign direct investments, methods, statistics, analysis

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Authors: Zhuoyuan Wang, Benson T. H. Lim, Imriyas Kamardeen

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Effective service quality management has long been touted as a means of improving project and organisational performance. Particularly, in construction projects, main contractors are often seen as a broker between clients and subcontractors, and their service quality is thus associated with the overall project affinity and outcomes. While a considerable amount of research has focused on the aspect of clients-main contractors, very little research has been done to explore the effect of contractors’ service quality on subcontractors’ behaviours and so project outcomes. In addressing this gap, this study surveyed 97 subcontractors in the Chinese Construction industry and data was analysed using the Partial Least Square (PLS) Structural Equation Modelling (SEM) technique. The overall findings reveal that subcontractors categorised main contractors’ service quality into three dimensions: assurance; responsiveness; reliability and empathy. Of these, it is found that main contractors’ ‘assurance’ and ‘responsiveness’ positively influence subcontractors’ intention to engage in contractual behaviours. The results further show that the subcontractors’ intention to engage in organizational citizenship behaviours is associated with how flexible and committed the main contractors are in reliability and empathy. Collectively, both subcontractors’ contractual and organizational citizenship behaviours positively influence the overall project outcomes. In conclusion, the findings inform contractors different strategies towards managing and gaining subcontractors’ behaviour commitment in a socially connected, yet complex and uncertain, business environment.

Keywords: construction firms, organisational citizenship behaviour, service quality, social exchange theory

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Authors: Corina E. Niculaescu, Ivan Sangiorgi, Adrian R. Bell

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The COVID-19 pandemic has been life-changing in many aspects of people’s daily and social lives, but has it also changed attitudes towards investments? This paper explores the effect of the COVID-19 pandemic on retail investors’ levels of investments in the U.S. during the first COVID-19 wave in summer 2020. This is an unprecedented health crisis, which could lead to changes in investment behavior, including irrational behavior in retail investors. As such, this study aims to inform policymakers of what happened to investment decisions during the COVID-19 pandemic so that they can protect retail investors during extreme events like a global health crisis. The study aims to answer two research questions. First, was the level of investments affected by the COVID-19 pandemic, and if so, why? Second, how were investments affected by retail investors’ personal experience with COVID-19? The research analysis is based on primary survey data collected on the Amazon Mechanical Turk platform from a representative sample of U.S. respondents. Responses were collected between the 15th of July and 28th of August 2020 from 1,148 U.S. retail investors who hold mutual fund investments and a savings account. The research explores whether being affected by COVID-19, change in the level of savings, and risk capacity can explain the change in the level of investments by using regression analysis. The dependent variable is changed in investments measured as decrease, no change, and increase. For this reason, the methodology used is ordered probit regression models. The results show that retail investors in the U.S. increased their investments during the first wave of COVID-19, which is unexpected as investors are usually more cautious in crisis times. Moreover, the study finds that those who were affected personally by COVID-19 (e.g., tested positive) were more likely to increase their investments, which is irrational behavior and contradicts expectations. An increase in the level of savings and risk capacity was also associated with increased investments. Overall, the findings show that having personal experience with a health crisis can have an impact on one’s investment decisions as well. Those findings are important for both retail investors and policymakers, especially now that online trading platforms have made trading easily accessible to everyone. There are risks and potential irrational behaviors associated with investment decisions during times of crisis, and it is important that retail investors are aware of them before making financial decisions.

Keywords: COVID-19, financial decision-making, health crisis retail investors, survey

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Authors: C. W. F. Che Wan Putra, M. Alshawi, M. S. Al Ahbabi, M. Jabakhanji

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The construction industry is a multi-disciplinary and multi-national industry, which has an important role to play within the overall economy of any country. There are major challenges to an improved performance within the industry. Particularly lacking is, the ability to capture the large amounts of information generated during the life-cycle of projects and to make these available, in the right format, so that professionals can then evaluate alternative solutions based on life-cycle analysis. The fragmented nature of the industry is the main reason behind the unavailability and ill utilisation of project information. The lack of adequately engaging clients and managing their requirements contributes adversely to construction budget and schedule overruns. This is a difficult task to achieve, particularly if clients are not continuously and formally involved in the design and construction process, which means that the design intent is left to designers that may not always satisfy clients’ requirements. Client lead is strongly recognised in bringing change through better collaboration between project stakeholders. However, one of the major challenges is that collaboration is operated under conventional procurement methods, which hugely limit the stakeholders’ roles and responsibilities to bring about the required level of collaboration. A research has been conducted with a typical project in the UAE. A qualitative research work was conducted including semi-structured interviews with project partners to discover the real reasons behind this delay. The case study also investigated the real causes of the problems and if they can be adequately addressed by BIM and IPD. Special focus was also placed on the Client leadership and the role the Client can play to eliminate/minimize these problems. It was found that part of the ‘key elements’ from which the problems exist can be attributed to the client leadership and the collaborative environment and BIM.

Keywords: client leadership, building information modelling (BIM), integrated project delivery (IPD), case study

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Authors: Andi Fallahi, Bona Ryan Situmeang

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The Construction Industry is notoriously risky. Much of the preparatory paperwork that precedes construction project can be viewed as the formulation of risk allocation between the owner and the Contractor. The Owner is taking the risk that his project will not get built on the schedule that it will not get built for what he has budgeted and that it will not be of the quality he expected. The Contractor Face a multitude of risk. One of them is an unforeseen condition at the construction site. The Owner usually has the upper hand here if the unforeseen condition occurred. Site data contained in Ground Investigation report is often of significant contractual importance in disputes related to the unforeseen ground condition. A ground investigation can never fully disclose all the details of the underground condition (Risk of an unknown ground condition can never be 100% eliminated). Adipala Coal Fired Steam Power Plant (CSFPP) 1 x 660 project is one of the large CSFPP project in Indonesia based on Engineering, Procurement, and Construction (EPC) Contract. Unforeseen Ground Condition it’s responsible by the Contractor has stipulated in the clausal of Contract. In the implementation, there’s indicated unforeseen ground condition at Circulating Water Pump House (CWPH) area which caused the Contractor should be changed the Method of Work that give big impact against Time of Completion and Cost Project. This paper tries to analyze the best way for allocating the risk between The Owner and The Contractor. All parties that allocating of sharing risk fairly can ultimately save time and money for all parties, and get the job done on schedule for the least overall cost.

Keywords: unforeseen ground condition, coal fired steam power plant, circulating water pump house, Indonesia

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Authors: Andriy Didenko, Zanin Kavazovic

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Engineering students often have certain difficulties in mastering major theoretical concepts in mathematical courses such as differential equations. Student projects were proposed to motivate students’ learning and can be used as a tool to promote students’ interest in the material. Authors propose a student project that includes the use of Microsoft Excel. This instructional tool is often overlooked by both educators and students. An integral component of the experimental part of such a project is the exploration of an interactive spreadsheet. The aim is to assist engineering students in better understanding of Euler’s method. This method is employed to numerically solve first order differential equations. At first, students are invited to select classic equations from a list presented in a form of a drop-down menu. For each of these equations, students can select and modify certain key parameters and observe the influence of initial condition on the solution. This will give students an insight into the behavior of the method in different configurations as solutions to equations are given in numerical and graphical forms. Further, students could also create their own equations by providing functions of their own choice and a variety of initial conditions. Moreover, they can visualize and explore the impact of the length of the time step on the convergence of a sequence of numerical solutions to the exact solution of the equation. As a final stage of the project, students are encouraged to develop their own spreadsheets for other numerical methods and other types of equations. Such projects promote students’ interest in mathematical applications and further improve their mathematical and programming skills.

Keywords: student project, Euler's method, spreadsheet, engineering education

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Authors: Simon Huston, Ebraheim Lahbash, Ali Parsa

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The development of the United Arab Emirates (UAE) into a regional trade, tourism, finance and logistics hub has transformed its real estate markets. However, speculative activity and price volatility remain concerns. UAE residential market values (MV) are exposed to fluctuations in capital flows and migration which in turn are affected by geopolitical uncertainty, oil price volatility, and global investment market sentiment. Internally, a complex interplay between administrative boundaries, land tenure, building quality and evolving location characteristics fragments UAE residential property markets. In short, the UAE Residential Valuation System (UAE-RVS) confronts multiple challenges to collect, filter and analyze relevant information in complex and dynamic spatial and capital markets. A robust (RVS) can mitigate the risk of unhelpful volatility, speculative excess or investment mistakes. The research outlines the institutional, ontological, dynamic, and epistemological issues at play. We highlight the importance of system capabilities, valuation standard salience and stakeholders trust.

Keywords: valuation, property rights, information, institutions, trust, salience

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Authors: Sergey Podluzhnyy

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One of the most important tasks of investment and pension fund management is building decision support system which helps to make right decision on corporate bond portfolio formation. Today there are several basic methods of bond portfolio management. They are duration management, immunization and convexity management. Identified methods have serious disadvantage: they do not take into account credit risk or insolvency risk of issuer. So, identified methods can be applied only for management and evaluation of high-quality sovereign bonds. Applying article proposes mathematical model for building an optimal in case of risk and yield corporate bond portfolio. Proposed model takes into account the default probability in formula of assessment of bonds which results to more correct evaluation of bonds prices. Moreover, applied model provides tools for visualization of the efficient frontier of corporate bonds portfolio taking into account the exposure to credit risk, which will increase the quality of the investment decisions of portfolio managers.

Keywords: corporate bond portfolio, default probability, effective boundary, portfolio optimization task

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Authors: Ahmed Bellakhdhar

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This paper aims to test the impact of various variables-namely, investment in physical capital, investment in human capital, openness to trade and foreign direct investments, and distance from the technology frontier-on economic growth in the Tunisian context during the period 1976-2010. Empirical results identify that the impact of human capital is significantly positive. This finding confirms the hypothesis that human capital is a main driver of economic performance through its role of improving the internal productive capacity and the absorption of foreign technology especially via foreign direct investments. The effect of FDI is significantly positive in all alternative regressions and the coefficient associated to physical capital variable is positive, but not significant overall. Concerning the import of technologically advanced equipments, our estimates show the absence of a significant direct impact on economic growth in Tunisia. Our empirical results also support the assumption of a non linear relationship between tax and growth and demonstrate the existence of an inverted-U curve between the two variables, in the spirit of the “Laffer curve”.

Keywords: Endogenous growth, Human capital, Technology transfer, Absorptive capacity

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Authors: Ekaterina Posokhova, Boris Gavrilov

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Priority national projects have become an essential phenomenon in the Russian Federation. Both regional and local government institutions and a significant part of the society have been involved in their implementation. The scale and multispectricity of the national projects give a reason to believe that their concept is beyond the scope of the individual state programs. The national project “environment” contains federal projects on waste management, water, and air quality, ecotourism development, and biodiversity conservation highlights the importance of the preservation and restoration of Volga River and Lake Baikal ecosystems. This study assesses the national projects according to their relativeness with the current SDGs (i.e., SGD 14 and 15), evaluates the methodology of the projects. The paper considers the peculiarities of the national projects as strategic management tools as well as the possibility of amending the project objective indicators. Conclusion on the effectiveness of NP in terms of achieving SDGs is provided.

Keywords: management, SDP, russia, conservation, law

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Authors: Espinosa-Garza G., Loera-Hernandez I., Antonyan N.

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To innovate, it is necessary to perform projects directed towards the search of improvement. The agricultural technique and the design of greenhouses have been studied by undergraduate engineering students from the Tecnológico de Monterrey using the campus areas. The purpose of this project was to incite students to create innovations and help rural populations of the state to solve one of the problems that they are dealing with nowadays. The main objective of the project was to search for an alternative technique that will allow the planting of the “chile piquín” plant, also known as Capsicum annuum, to grow quicker as it germinates. The “chile piquín” is one of the original crops of Mexico and forms the basis of the Mesoamerican cultures’ diet since the pre-hispanic era. To fulfill with today’s demand, it is required to implement new alternative methods to increase the “chile piquín’s” growth. The project lasted one semester with the participation of engineering students from multiple majors. The most important results from this academic experience were that, from the proposed goal, the students could analyze the needs of their town and were capable of introducing new and innovative ideas with the aim of resolving them. In the present article the pedagogic methodologies that allowed to carry out this project will be discussed.

Keywords: academic experience, chile piquín, engineering education, greenhouse design, innovation

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Authors: Fatemeh Jaferi, Moslem Parsa, Heshmatolah Shams Khorramabadi

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In this modern fluctuating world, organizations need to outsource some parts of their activities (project) to providers in order to show a quick response to their changing requirements. In fact, a number of companies and institutes have contractors do their projects and have some specific criteria in contractor selection. Therefore, a set of scientific tools is needed to select the best contractors to execute the project according to appropriate criteria. Multi-criteria decision making (MCDM) has been employed in the present study as a powerful tool in ranking and selecting the appropriate contractor. In this study, devolving second-source (civil) project to contractors in the National Gas Company of Lorestan Province (Iran) has been found and therefore, 5 civil companies have been evaluated. Evaluation criteria include executive experience, qualification of technical staff, good experience and company's rate, technical interview, affordability, equipment and machinery. Criteria's weights are found through experts' opinions along with AHP and contractors ranked through TOPSIS and AHP. The order of ranking contractors based on MCDM methods differs by changing the formula in the study. In the next phase, the number of criteria and their weights has been sensitivity analysed through using AHP. Adding each criterion changed contractors' ranking. Similarly, changing weights resulted in a change in ranking. Adopting the stated strategy resulted in the facts that not only is an appropriate scientific method available to select the most qualified contractors to execute gas project, but also a great attention is paid to picking needed criteria for selecting contractors. Consequently, executing such project is undertaken by most qualified contractors resulted in optimum use of limited resource, accelerating the implementation of project, increasing quality and finally boosting organizational efficiency.

Keywords: multi-criteria decision making, project, management, contractor selection, gas company

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Authors: Tauhidur Rahman, Kasturi Bhuyan

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In the present paper, Ground Response Analysis at the Rukni irrigation project has been thoroughly investigated. Surface level seismic hazard is mainly used by the practical Engineers for designing the important structures. Surface level seismic hazard can be obtained accounting the soil factor. Structures on soft soil will show more ground shaking than the structure located on a hard soil. The Surface level ground motion depends on the type of soil. Density and shear wave velocity is different for different types of soil. The intensity of the soil amplification depends on the density and shear wave velocity of the soil. Rukni irrigation project is located in the North Eastern region of India, near the Dauki fault (550 Km length) which has already produced earthquakes of magnitude (Mw= 8.5) in the past. There is a probability of a similar type of earthquake occuring in the future. There are several faults also located around the project site. There are 765 recorded strong ground motion time histories available for the region. These data are used to determine the soil amplification factor by incorporation of the engineering properties of soil. With this in view, three of soil bore holes have been studied at the project site up to a depth of 30 m. It has been observed that in Soil bore hole 1, the shear wave velocity vary from 99.44 m/s to 239.28 m/s. For Soil Bore Hole No 2 and 3, shear wave velocity vary from 93.24 m/s to 241.39 m/s and 93.24m/s to 243.01 m/s. In the present work, surface level seismic hazard at the project site has been calculated based on the Probabilistic seismic hazard approach accounting the soil factor.

Keywords: Ground Response Analysis, shear wave velocity, soil amplification, surface level seismic hazard

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Authors: Armin Eilaghi, Ahmad Sedaghat, Hayder Abdurazzak, Fadi Alkhatib, Shiva Sadeghi, Martin Jaeger

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A summary of experiences, recommendations, and lessons learnt in the application of PBL in the course of “Engineering Skills” in the School of Engineering at Australian College of Kuwait in Kuwait is presented. Four projects were introduced as part of the PBL course “Engineering Skills” to 24 students in School of Engineering. These students were grouped in 6 teams to develop their skills in 10 learning outcomes. The learning outcomes targeted skills such as drawing, design, modeling, manufacturing and analysis at a preliminary level; and also some life line learning and teamwork skills as these students were exposed for the first time to the PBL (project based learning). The students were assessed for 10 learning outcomes of the course and students’ feedback was collected using an anonymous survey at the end of the course. Analyzing the students’ feedbacks, it is observed that 67% of students preferred multiple smaller projects than a single big project because it provided them with more time and attention focus to improve their “soft skills” including project management, risk assessment, and failure analysis. Moreover, it is found that 63% of students preferred to work with different team members during the course to improve their professional communication skills. Among all, 62% of students believed that working with team members from other departments helped them to increase the innovative aspect of projects and improved their overall performance. However, 70% of students counted extra time needed to regenerate momentum with the new teams as the major challenge. Project based learning provided a suitable platform for introducing students to professional engineering practice and meeting the needs of students, employers and educators. It was found that students achieved their 10 learning outcomes and gained new skills developed in this PBL unit. This was reflected in their portfolios and assessment survey.

Keywords: project-based learning, engineering skills, undergraduate engineering, problem-based learning

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Authors: Soheila Sadeghi

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Infrastructure projects often encounter contract variations that can significantly deviate from the original tender estimates, leading to cost overruns, schedule delays, and financial implications. This research aims to quantitatively assess the impact of changes in contract variations on project performance by conducting an in-depth analysis of a comprehensive dataset from the Regional Airport Car Park project. The dataset includes tender budget, contract quantities, rates, claims, and revenue data, providing a unique opportunity to investigate the effects of variations on project outcomes. The study focuses on 21 specific variations identified in the dataset, which represent changes or additions to the project scope. The research methodology involves establishing a baseline for the project's planned cost and scope by examining the tender budget and contract quantities. Each variation is then analyzed in detail, comparing the actual quantities and rates against the tender estimates to determine their impact on project cost and schedule. The claims data is utilized to track the progress of work and identify deviations from the planned schedule. The study employs statistical analysis using R to examine the dataset, including tender budget, contract quantities, rates, claims, and revenue data. Time series analysis is applied to the claims data to track progress and detect variations from the planned schedule. Regression analysis is utilized to investigate the relationship between variations and project performance indicators, such as cost overruns and schedule delays. The research findings highlight the significance of effective variation management in construction projects. The analysis reveals that variations can have a substantial impact on project cost, schedule, and financial outcomes. The study identifies specific variations that had the most significant influence on the Regional Airport Car Park project's performance, such as PV03 (additional fill, road base gravel, spray seal, and asphalt), PV06 (extension to the commercial car park), and PV07 (additional box out and general fill). These variations contributed to increased costs, schedule delays, and changes in the project's revenue profile. The study also examines the effectiveness of project management practices in managing variations and mitigating their impact. The research suggests that proactive risk management, thorough scope definition, and effective communication among project stakeholders can help minimize the negative consequences of variations. The findings emphasize the importance of establishing clear procedures for identifying, assessing, and managing variations throughout the project lifecycle. The outcomes of this research contribute to the body of knowledge in construction project management by demonstrating the value of analyzing tender, contract, claims, and revenue data in variation impact assessment. However, the research acknowledges the limitations imposed by the dataset, particularly the absence of detailed contract and tender documents. This constraint restricts the depth of analysis possible in investigating the root causes and full extent of variations' impact on the project. Future research could build upon this study by incorporating more comprehensive data sources to further explore the dynamics of variations in construction projects.

Keywords: contract variation impact, quantitative analysis, project performance, claims analysis

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Authors: Hsin-Hung Lai, Wei Lo

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Whether it is in virtue or vice for a construction quality of public construction project, it is one of the important indicators for national economic development and overall construction, the impact on the quality of national life is very deep. In recent years, a number of scandal of public construction project occurred, the requirements of the government agencies and the public require the quality of construction of public construction project are getting stricter than ever, the three-level public construction project construction quality of quality control system implemented by the government has a profound impact. This study mainly aggregated the evolution of ISO 9000 quality control system, the difference between the practice of implementing management of construction quality by many countries and three-level quality control of our country, so we explored and found that almost all projects of enhancing construction quality are dominated by civil organizations in foreign countries, whereas, it is induced by the national power in our country and develop our three-level quality control system and audit mechanism based on IOS system and implement the works by legislation, we also explored its enhancement and relevance with construction quality of public construction project that are intervened by such system and national power, and it really presents the effectiveness of construction quality been enhanced by the audited result. The three-level quality control system of our country to promote the policy of public construction project is almost same with the quality control system of many developed countries; however our country mainly implements such system on public construction project only, we promote the three-level quality control system is for enhancing the quality of public construction project, for establishing effective quality management system, so as to urge, correct and prevent the defects of quality management by manufacturers, whereas, those developed countries is comprehensively promoting (both public construction project and civil construction) such system. Therefore, this study is to explore the scope for public construction project only; the most important is the quality recognition by the executor, either good quality or deterioration is not a single event, there is a certain procedure extends from the demand and feasibility analysis, design, tendering, contracting, construction performance, inspection, continuous improvement, completion and acceptance, transferring and meeting the needs of the users, all of mentioned above have a causal relationship and it is a systemic problems. So the best construction quality would be manufactured and managed by reasonable cost if it is by extensive thinking and be preventive. We aggregated the implemented results in the past 10 years (2005 to 2015), the audited results of both in central units and local ones were slightly increased in A-grade while those listed in B-grade were decreased, although the levels were not evidently upgraded, yet, such result presents that the construction quality of concept of manufacturers are improving, and the construction quality has been established in the design stage, thus it is relatively beneficial to the enhancement of construction quality of overall public construction project.

Keywords: ISO 9000, three-level quality control system, audit and review mechanism for construction implementation, quality of construction implementation

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Authors: Larisa Akhmylovskaia, Andriana Barysh

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The present paper is introducing the translation score developing methodology and methods in the cross-cultural communication. The ideas and examples presented by the authors illustrate the universal character of translation score developing methods under analysis. Personal experience in the international theatre-making projects, opera laboratories, cross-cultural master-classes give more opportunities to single out the conditions, forms, means and principles of translation score developing as well as the translator/interpreter’s functions as cultural liaison for multiethnic collaboration.

Keywords: methodology of translation score developing, pre-production, analysis, production, post-production, ethnic scene theory, theatre anthropology, laboratory, master-class, educational project, academic project, participant observation, super-objective

Procedia PDF Downloads 514