Search results for: road pricing

Authors: Mas Pertiwi I. G. AG Istri, Sri Kristinayanti Wayan, Oka Aryawan I. Gede Made

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Ability of government to meet the needs of infrastructure investment constrained by the size of the budget commitments for other sectors. Another barrier is the complexity of the process of land acquisition. Public Private Partnership can help bridge the investment gap by including the amount of funding from the private sector, shifted the responsibility of financing, construction of the asset, and the operation and post-project design and care to them. In principle, a construction project implementation always requires the investor as a party to provide resources in the form of funding which it must be contained in a successor agreement in the form of a contract. In general, construction contracts consist of contracts which passed in Indonesia and contract International. One source of funding used in the implementation of construction projects comes from funding that comes from the collaboration between the government and the private sector, for example with the system: BLT (Build Lease Transfer), BOT (Build Operate Transfer), BTO (Build Transfer Operate) and BOO (Build Operate Own). And form of payment under a construction contract can be distinguished several ways: monthly payment, payments based on progress and payment after completed projects (Turn Key). One of the tools used to analyze the feasibility of the investment is to use financial models. The financial model describes the relationship between different variables and assumptions used. From a financial model will be known how the cash flow structure of the project, which includes revenues, expenses, liabilities to creditors and the payment of taxes to the government. Net cash flow generated from the project will be used as a basis for analyzing the feasibility of investment source of project financing Public Private Partnership could come from equity or debt. The proportion of funding according to its source is a comparison of a number of investment funds originating from each source of financing for a total investment cost during the construction period by selected the contract system and several alternative financing percentage ratio determined according to sources will generate cash flow structure that is different. Of the various possibilities for the structure of the cash flow generated will be analyzed by software is to test T Paired to compared the contract system used by various alternatives comparison of financing to determine the effect of the contract system and the comparison of such financing for the feasibility of investment toll road construction project for the economic life of 20 (twenty) years. In this use case studies of toll road contruction project Bali Mandara. And in this analysis only covered two systems contracts, namely Build Operate Transfer and Turn Key. Based on the results obtained by analysis of the variable investment feasibility of the NPV, BCR and IRR between the contract system Build Operate Transfer and contract system Turn Key on the interest rate of 9%, 12% and 15%.

Keywords: contract system, financing, internal rate of return, net present value

Procedia PDF Downloads 229

Authors: Charly Julien Nyobe, Eric Jacquelin, Denis Brizard, Alexy Mercier

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The performance of road side safety barriers depends largely on the dynamic interactions between post and soil. These interactions play a key role in the response of barriers to crash testing. In the literature, soil-post interaction is modeled in crash test simulations using three approaches. Many researchers have initially used the finite element approach, in which the post is embedded in a continuum soil modelled by solid finite elements. This method represents a more comprehensive and detailed approach, employing a mesh-based continuum to model the soil’s behavior and its interaction with the post. Although this method takes all soil properties into account, it is nevertheless very costly in terms of simulation time. In the second approach, all the points of the post located at a predefined depth are fixed. Although this approach reduces CPU computing time, it overestimates soil-post stiffness. The third approach involves modeling the post as a beam supported by a set of nonlinear springs in the horizontal directions. For support in the vertical direction, the posts were constrained at a node at ground level. This approach is less costly, but the literature does not provide a simple procedure to determine the constitutive law of the springs The aim of this study is to propose a simple and low-cost procedure to obtain the constitutive law of nonlinear springs that model the soil-post interaction. To achieve this objective, we will first present a procedure to obtain the constitutive law of nonlinear springs thanks to the simulation of a soil compression test. The test consists in compressing the soil contained in the tank by a rigid solid, up to a vertical displacement of 200 mm. The resultant force exerted by the ground on the rigid solid and its vertical displacement are extracted and, a force-displacement curve was determined. The proposed procedure for replacing the soil with springs must be tested against a reference model. The reference model consists of a wooden post embedded into the ground and impacted with an impactor. Two simplified models with springs are studied. In the first model, called Kh-Kv model, the springs are attached to the post in the horizontal and vertical directions. The second Kh model is the one described in the literature. The two simplified models are compared with the reference model according to several criteria: the displacement of a node located at the top of the post in vertical and horizontal directions; displacement of the post's center of rotation and impactor velocity. The results given by both simplified models are very close to the reference model results. It is noticeable that the Kh-Kv model is slightly better than the Kh model. Further, the former model is more interesting than the latter as it involves less arbitrary conditions. The simplified models also reduce the simulation time by a factor 4. The Kh-Kv model can therefore be used as a reliable tool to represent the soil-post interaction in a future research and development of road safety barriers.

Keywords: crash tests, nonlinear springs, soil-post interaction modeling, constitutive law

Procedia PDF Downloads 32

Authors: Lie-Fen Lin, Tzu-Hsuan Lin, Ching-Heng Lin

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Hospice care for terminally ill patients provides not only a better quality of life but also cost-saving benefits. However, the utilization of home-based hospice care (HBH care) remains low even for countries covered by National Health Insurance (NHI) programs in Taiwan. In the current commercial insurance policy, only hospital-based hospice benefits were covered. It may have an influence on the insureds chosen to receive end-of-life care in a hospitalized manner. Thus, how to propose a feasible method to advocate HBH care utilization rate of public health policies is an important issue. A total of 130,219 cancer decedents in the year 2011-2013 from the National Health Insurance Research Database (NHIRD) in Taiwan were included in this study. By adding a day volume pays benefits of HBH care as a commercial insurance rider, will provide alternative benefits for the insureds. A multiple-state Markov chain model was incorporated to estimate the transition intensities of patients in different states at the end of their lives (Non-hospice, HBH, hospital-based hospice), and the premiums were estimated. HBH care insurance benefits provide financial support and reduce the burden of care for patients. The rate-making of this product is very sensitive while the utilization rate is rising, especially for high ages. The proposed HBH care insurance is a feasible way to reduce the financial burden, enhance the care quality and family satisfaction of insureds. Meanwhile, insurance companies can participate in advocating a good medical policy to enhance the social image. In addition, the medical costs of NHI can reduce effectively.

Keywords: home-based hospice care, commercial insurance, Markov chain model, the day volume pays

Procedia PDF Downloads 217

Authors: Nousheen Hashmi, Shoab Ahmad Khan

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Active collaboration among the green energy sources and the load demand leads to serious issues related to power quality and stability. The growing number of green energy resources and Distributed-Generators need newer strategies to be incorporated for their operations to keep the power energy stability among green energy resources and micro-grid/Utility Grid. This paper presents a novel technique for energy power management in Grid-Connected Photovoltaic with energy storage system under set of constraints including weather conditions, Load Shedding Hours, Peak pricing Hours by using rule-based fuzzy smart grid controller to schedule power coming from multiple Power sources (photovoltaic, grid, battery) under the above set of constraints. The technique fuzzifies all the inputs and establishes fuzzify rule set from fuzzy outputs before defuzzification. Simulations are run for 24 hours period and rule base power scheduler is developed. The proposed fuzzy controller control strategy is able to sense the continuous fluctuations in Photovoltaic power generation, Load Demands, Grid (load Shedding patterns) and Battery State of Charge in order to make correct and quick decisions.The suggested Fuzzy Rule-based scheduler can operate well with vague inputs thus doesn’t not require any exact numerical model and can handle nonlinearity. This technique provides a framework for the extension to handle multiple special cases for optimized working of the system.

Keywords: photovoltaic, power, fuzzy logic, distributed generators, state of charge, load shedding, membership functions

Procedia PDF Downloads 480

Authors: Barenten Suciu

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In this work, by replacing the traditional solid spokes with colloidal spokes, a vehicle wheel with a built-in suspension structure is proposed. Following the background and description of the wheel system, firstly, a vibration model of the wheel equipped with colloidal spokes is proposed, and based on such model the equivalent damping coefficients and spring constants are identified. Then, a modified model of a quarter-vehicle moving on a rough pavement is proposed in order to estimate the transmissibility of vibration from the road roughness to vehicle body. In the end, the optimal design of the colloidal spokes and the optimum number of colloidal spokes are decided in order to minimize the transmissibility of vibration, i.e., to maximize the ride comfort of the vehicle.

Keywords: built-in suspension, colloidal spoke, intrinsic spring, vibration analysis, wheel

Procedia PDF Downloads 509

Authors: Sukhpreet Singh, Kishan Bhojrath, Vijay, Avinash Kumar, Mandlesh Mishra

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The project uses an Arduino and ESP8266 to construct an alcohol detection system with an engine locking mechanism, offering a distinct way to fight drunk driving. An alcohol sensor module is used by the system to determine the amount of alcohol present in the ambient air. When the system detects alcohol levels beyond a certain threshold that is deemed hazardous for driving, it activates a relay module that is linked to the engine of the car, so rendering it inoperable. By preventing people from operating a vehicle while intoxicated, this preventive measure seeks to improve road safety. Adding an ESP8266 module also allows for remote monitoring and notifications, giving users access to real-time status updates on their system. By using an integrated strategy, the initiative provides a workable and efficient way to lessen the dangers related to driving while intoxicated.

Keywords: MQ3 sensor, ESP 8266, arduino, IoT

Procedia PDF Downloads 67

Authors: G. Meccariello, L. Della Ragione

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The exposure to outdoor air pollution causes lung cancer and increases the risk of bladder cancer. Because air pollution in urban areas is mainly caused by transportation, it is necessary to evaluate pollutant exhaust emissions from vehicles during their real-world use. Nevertheless their evaluation and reduction is a key problem, especially in the cities, that account for more than 50% of world population. A particular attention was given to the slope variability along the streets during each journey performed by the instrumented vehicle. In this paper we dealt with the problem of describing a quantitatively approach for the reconstruction of GPS coordinates and altitude, in the context of correlation study between driving cycles / emission / geographical location, during an experimental campaign realized with some instrumented cars. Finally the slope analysis can be correlated to the emission and consumption values in a specific road position, and it could be evaluated its influence on their behaviour.

Keywords: air pollution, driving cycles, GPS signal, slope, emission factor, fuel consumption

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Authors: Adel A. Ghoneim

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Air conditioning devices are substantially utilized in the summer months, as a result maximum loads in Kuwait take place in these intervals. Peak energy consumption are usually more expensive to satisfy compared to other standard power sources. The primary objective of the current work is to enhance the performance of high concentrated photovoltaic (HCPV) systems in an attempt to minimize peak power usage in Kuwait using HCPV modules. High concentrated PV multi-junction solar cells provide a promising method towards accomplishing lowest pricing per kilowatt-hour. Nevertheless, these cells have various features that should be resolved to be feasible for extensive power production. A single diode equivalent circuit model is formulated to analyze multi-junction solar cells efficiency in Kuwait weather circumstances taking into account the effects of both the temperature and the concentration ratio. The diode shunt resistance that is commonly ignored in the established models is considered in the present numerical model. The current model results are successfully validated versus measurements from published data to within 1.8% accuracy. Present calculations reveal that the single diode model considering the shunt resistance provides accurate and dependable results. The electrical efficiency (η) is observed to increase with concentration to a specific concentration level after which it reduces. Implementing grid systems is noticed to increase with concentration to a certain concentration degree after which it decreases. Employing grid connected HCPV systems results in significant peak load reduction.

Keywords: grid connected, high concentrated photovoltaic systems, peak load, solar cells

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Authors: Muhammad Ghaffar Doggar, Farah

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The primary objective of this feasibility study is to conduct a techno-financial assessment for installation of biomass based power plant in Faisalabad division. The study involves identification of best site for power plant followed by an assessment of biomass resource potential in the area and propose power plant of suitable size. The study also entailed comprehensive supply chain analysis to determine biomass fuel pricing, transportation and storage. Further technical and financial analyses have been done for selection of appropriate technology for the power plant and its financial viability, respectively. The assessment of biomass resources and the subsequent technical analysis revealed that 20 MW biomass power plant could be implemented at one of the locations near Faisalabad city i.e. AARI Site, Near Chak Jhumra district Faisalabad, Punjab province. Three options for steam pressure; namely, 70 bar, 90 bar and 100 bar boilers have been considered. Using international experience and prices on power plant technology and local prices on locally available equipment, the study concludes biomass fuel price of around 50 US dollars (USD) per ton when delivered to power plant site. The electricity prices used for feasibility calculations were 0.13 USD per KWh for electricity from a locally financed project and 0.11 USD per KWh for internationally financed power plant. For local financing the most viable choice is the 70 bar solution and with international financing, the most feasible solution is using a 90 bar boiler. Between the two options, the internationally financed 90 bar boiler setup gives better financial results than the locally financed 70 bar boiler project. It has been concluded that 20 MW with 90 bar power plant and internationally financed would have an equity IRR of 23% and a payback period of 7 years. This will be a cheap option for installation of power plants.

Keywords: AARI, Ayub agriculture research institute, biomass - crops residue, KWh - electricity Units, MG - Muhammad Ghaffar

Procedia PDF Downloads 341

Authors: Tallal Abdel Karim Bouzir, Nourdinne Zemmouri, Djihed Berkouk

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In this research, a quantitative assessment of the urban sound environment of the city of Biskra, Algeria, was conducted. To determine the quality of the soundscape based on in-situ measurement, using a Landtek SL5868P sound level meter in 47 points, which have been identified to represent the whole city. The result shows that the urban noise level varies from 55.3 dB to 75.8 dB during the weekdays and from 51.7 dB to 74.3 dB during the weekend. On the other hand, we can also note that 70.20% of the results of the weekday measurements and 55.30% of the results of the weekend measurements have levels of sound intensity that exceed the levels allowed by Algerian law and the recommendations of the World Health Organization. These very high urban noise levels affect the quality of life, the acoustic comfort and may even pose multiple risks to people's health.

Keywords: road traffic, noise pollution, sound intensity, public health

Procedia PDF Downloads 268

Authors: Boukhris Lahouari, Bouchetara Mostefa

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The active safety of a vehicle is mainly influenced by the properties of the installed braking system. With the increase in road traffic density and travel speeds, increasingly stringent requirements are placed on the vehicle's behaviour during braking. The achievable decelerations are limited by the physical aspect characterized by the coefficient of friction between the tires and the ground. As a result, it follows that an optimized distribution of braking forces becomes necessary for a better use of friction coefficients. This objective could only be achieved if sufficient knowledge is available on the theory of vehicle dynamics during braking and on current standards for the approval of braking systems. These will facilitate the development of a braking force calculation algorithm that will enable an optimized distribution of braking forces to be achieved. Operating safety is conditioned by the requirements of efficiency, progressiveness, regularity or fidelity of a braking system without obviously neglecting the recommendations imposed by the legislator.

Keywords: brake force distribution, distribution diagram, friction coefficient, brake by wire

Procedia PDF Downloads 79

Authors: Henry Gonzalo Acurio Flores, Alvaro Nicolas Corral Naveda, Juan Francisco Fonseca Palacios

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In Ecuador, subventions on fossil fuels for the road transportation sector have always been part of its economy throughout time, mainly because of demagogy and populism from political leaders. It is clearly seen that the government cannot maintain the subsidies anymore due to its commercial balance and its general state budget; subsidies are a key barrier to implementing the use of cleaner technologies. However, during the last few months, the elimination of subsidies has been done gradually with the purpose of reaching international prices. It is expected that with this measure, the population will opt for other means of transportation, and in a certain way, it will promote the use of private electric vehicles and public, e.g., taxis and buses (urban transport). Considering the three main elements of sustainable development, an analysis of the social, economic, and environmental impacts of eliminating subsidies will be generated at the country level. To achieve this, four scenarios will be developed in order to determine how the subsidies will contribute to the promotion of electro-mobility. 1) A Business as Usual BAU scenario; 2) the introduction of 10 000 electric vehicles by 2025; 3) the introduction of 100 000 electric vehicles by 2030; 4) the introduction of 750 000 electric vehicles by 2040 (for all the scenarios buses, taxis, lightweight duty vehicles, and private vehicles will be introduced, as it is established in the National Electro Mobility Strategy for Ecuador). The Low Emissions Analysis Platform (LEAP) will be used, and it will be suitable to determine the cost for the government in terms of importing derivatives for fossil fuels and the cost of electricity to power the electric fleet that can be changed. The elimination of subventions generates fiscal resources for the state that can be used to develop other kinds of projects that will benefit Ecuadorian society. It will definitely change the energy matrix, and it will provide energy security for the country; it will be an opportunity for the government to incentivize a greater introduction of renewable energies, e.g., solar, wind, and geothermal. At the same time, it will also reduce greenhouse gas emissions (GHG) from the transportation sector, considering its mitigation potential, which as a result, will ameliorate the inhabitant quality of life by improving the quality of air, therefore reducing respiratory diseases associated with exhaust emissions, consequently, achieving sustainability, the Sustainable Development Goals (SDGs), and complying with the agreements established in the Paris Agreement COP 21 in 2015. Electro mobility in Latin America and the Caribbean can only be achieved by the implementation of the right policies at the central government, which need to be accompanied by a National Urban Mobility Policy (NUMP) and can encompass a greater vision to develop holistic, sustainable transport systems at local governments.

Keywords: electro mobility, energy, policy, sustainable transportation

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Authors: Kibret Berhanu Getinet

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Off-farm income diversification by farm rural households has gained the attention of researchers and policymakers due to the fact that agriculture failed to meet the needs of people in developing countries like Ethiopia. The objective of this study was to investigate income diversification strategies into off-farm activities among rural households in Hawassa Zuria Woreda, Sidama National Regional State, Ethiopia. The study used primary and secondary data sources for the primary data collection questionnaire employed as a data collection instrument. A multistage sampling technique was used to collect data from a total of 197 sample households from four kebeles of the study area. Descriptive statistics, as well as econometrics methods of data analysis, were employed. The descriptive statistics result indicates that the majority of sample rural households (68.53 %) have engaged in off-farm income diversification activities while the remaining 31.47% of households did not participate in the diversification in the study area. The choice of participants among the strategies indicates that 6.60% of respondents participated in off-farm wage employment, 30.46% participated in off-farm self-employment, and about 31.47% of them participated in both off-farm wage employment. The study revealed that the share of off-farm income in total annual earnings of households was about 48.457%, and thus, the off-farm diversification significantly contributes to the rural household income. Moreover, binary and multinomial logistic regression models were employed to identify factors that affect the participation and the choices of the off-farm income diversification strategies, respectively. The binary logit model result indicated that agro-ecological zone, education status of the households, available technical skills of the household, household saving, total livestock owned by the households, access to electricity, road access and being married of household head were significant and positively affected the chance of diversification in off-farm activities while the on-farm income of households is negatively affected the chance of diversification. Similarly, the multinomial logistic regression model estimate revealed that agroecological zone, on-farm income, available technical skills, household savings, and access to electricity are positively related and significantly influenced the household’s choice of employment into off-farm wage employment. The off-farm self-employment diversification choice is significantly influenced by on-farm income, available technical skills, household savings, total livestock owned, and access to electricity. Moreover, the result showed that the factors that affect the choice of farm households to engage in both off-farm wage and self-employment are ecological zone, education status, on-farm income, available technical skills, household own saving, market access, total livestock owned, access to electricity and road access. Thus, due attention should be given to addressing the demographic, socio-economic, and institutional constraints to strengthen off-farm income diversification strategies to improve the income of rural households.

Keywords: off-farm, incoem, diversification, logit model

Procedia PDF Downloads 55

Authors: Ahmad Dahlan Salleh, Nik Abdul Rahim Nik Abdul Ghani, Muhamad Firdaus M. Hatta

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Risk management has implications on pricing, governance arrangements, business practices and strategy. Nowadays, home financing contract offers more in the risk transfer form to increase bank profit. This is parallel with Islamic jurisprudence method al-Kharaj bi al-thaman (gain accompanies liability for loss) and al-ghurm bil ghunm (gain is justified with risk) that determine the matching between risk transfer and returns. Malaysian financing trend is to buy house. Besides, exists transparency lacking risk transfer issues to the clients because of not been informed clearly. Terms and conditions of each financing also do not reflect clearly that the risk has been transferred to the client, justifying a determination price been made. The assumption on risk occurrence is also inaccurate as each risk is different with the type of financing contract. This makes the Islamic Financial Services Act 2013 in providing standards that transparent and consistent can be used by Islamic financial institution less effective. This study examines how far the level of the risk and obligation incurred by bank and client under various Islamic home financing contract. This research is qualitative by using two methods, document analysis, and semi-structured interviews. Document analysis from literature review to identify profile, themes and risk transfer element in home financing from Islamic jurisprudence perspective. This study finds that need to create a risk transfer parameter by banks which are consistent with risk transfer theory according to Islamic jurisprudence. This study has potential to assist the authority in Islamic finance such as The Central Bank of Malaysia (Bank Negara Malaysia) in regulating Islamic banking industry so that the risk transfer valuation in home financing contract based on home financing good practice and determined risk limits.

Keywords: risk transfer, home financing contract, Sharia compliant, Malaysia

Procedia PDF Downloads 422

Authors: Nico Rosamilia

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The study evaluates the importance of non-financial disclosure practices for regulators, investors, businesses, and markets. It aims to create a sector-specific set of indicators for environmental, social, and governance (ESG) performances alternative to the ratings of the agencies. The existing literature extensively studies the implementation of ESG rating systems. Conversely, this study has a twofold outcome. Firstly, it should generalize incentive systems and governance policies for ESG and sustainable principles. Therefore, it should contribute to the EU Sustainable Finance Disclosure Regulation. Secondly, it concerns the market and the investors by highlighting successful sustainable investing. Indeed, the study contemplates the effect of ESG adoption practices on corporate value. The research explores the asset pricing angle in order to shed light on the fragmented argument on the finance of ESG. Investors may be misguided about the positive or negative effects of ESG on performances. The paper proposes a different method to evaluate ESG performances. By comparing the results of a traditional econometric approach (Lasso) with a machine learning algorithm (Random Forest), the study establishes a set of indicators for ESG performance. Therefore, the research also empirically contributes to the theoretical strands of literature regarding model selection and variable importance in a finance framework. The algorithms will spit out sector-specific indicators. This set of indicators defines an alternative to the compounded scores of ESG rating agencies and avoids the possible offsetting effect of scores. With this approach, the paper defines a sector-specific set of indicators to standardize ESG disclosure. Additionally, it tries to shed light on the absence of a clear understanding of the direction of the ESG effect on corporate value (the problem of endogeneity).

Keywords: ESG ratings, non-financial information, value of firms, sustainable finance

Procedia PDF Downloads 85

Authors: Vaidehi Raipat

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A city is an expression of coexistence between its users and built environment. The way in which its spaces are animated signify the quality of this coexistence. Urban sustainability is the ability of a city to respond efficiently towards its people, culture, environment, visual image, history, visions and identity. The quality of built environment determines the quality of our lifestyles, but poor ability of the built environment to adapt and sustain itself through the changes leads to degradation of cities. Ranchi was created in November 2000, as the capital of the newly formed state Jharkhand, located on eastern side of India. Before this Ranchi was known as summer capital of Bihar and was a little larger than a town in terms of development. But since then it has been vigorously expanding in size, infrastructure as well as population. This sudden expansion has created a stress on existing built environment. The large forest covers, agricultural land, diverse culture and pleasant climatic conditions have degraded and decreased to a large extent. Narrow roads and old buildings are unable to bear the load of the changing requirements, fast improving technology and growing population. The built environment has hence been rendered unsustainable and unadaptable through fastidious changes of present era. Some of the common hazards that can be easily spotted in the built environment are half-finished built forms, pedestrians and vehicles moving on the same part of the road. Unpaved areas on street edges. Over-sized, bright and randomly placed hoardings. Negligible trees or green spaces. The old buildings have been poorly maintained and the new ones are being constructed over them. Roads are too narrow to cater to the increasing traffic, both pedestrian and vehicular. The streets have a large variety of activities taking place on them, but haphazardly. Trees are being cut down for road widening and new constructions. There is no space for greenery in the commercial as well as old residential areas. The old infrastructure is deteriorating because of poor maintenance and the economic limitations. Pseudo understanding of functionality as well as aesthetics drive the new infrastructure. It is hence necessary to evaluate the extent of sustainability of existing built environment of the city and create or regenerate the existing built environment into a more sustainable and adaptable one. For this purpose, research titled “Sustainability of the Built Environment of Ranchi District” has been carried out. In this research the condition of the built environment of Ranchi are explored so as to figure out the problems and shortcomings existing in the city and provide for design strategies that can make the existing built-environment sustainable. The built environment of Ranchi that include its outdoor spaces like streets, parks, other open areas, its built forms as well as its users, has been analyzed in terms of various urban design parameters. Based on which strategies have been suggested to make the city environmentally, socially, culturally and economically sustainable.

Keywords: adaptable, built-environment, sustainability, urban

Procedia PDF Downloads 238

Authors: Olga Biedova, Victoria Steblovskaya, Kai Wallbaum

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In the current capital market environment, investors constantly face the challenge of finding a successful and stable investment mechanism. Highly volatile equity markets and extremely low bond returns bring about the demand for sophisticated yet reliable risk management strategies. Investors are looking for risk management solutions to efficiently protect their investments. This study compares a classic Constant Proportion Portfolio Insurance (CPPI) strategy to a Volatility Target portfolio insurance (VTPI). VTPI is an extension of the well-known Option Based Portfolio Insurance (OBPI) to the case where an embedded option is linked not to a pure risky asset such as e.g., S&P 500, but to a Volatility Target (VolTarget) portfolio. VolTarget strategy is a recently emerged rule-based dynamic asset allocation mechanism where the portfolio’s volatility is kept under control. As a result, a typical VTPI strategy allows higher participation rates in the market due to reduced embedded option prices. In addition, controlled volatility levels eliminate the volatility spread in option pricing, one of the frequently cited reasons for OBPI strategy fall behind CPPI. The strategies are compared within the framework of the stochastic dominance theory based on numerical simulations, rather than on the restrictive assumption of the Black-Scholes type dynamics of the underlying asset. An extended comparative quantitative analysis of performances of the above investment strategies in various market scenarios and within a range of input parameter values is presented.

Keywords: CPPI, portfolio insurance, stochastic dominance, volatility target

Procedia PDF Downloads 168

Authors: Jeison Sánchez Araya, Cesar Garita, Giannina Ortiz

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In many Latin American countries, including Costa Rica, the poor condition of national road bridges significantly hinders socioeconomic progress. Addressing this issue, this article introduces a computational method designed to evaluate and monitor bridge health over time. It outlines a business intelligence model that facilitates data storage from bridge inspections and supports structural health index calculations. A Power BI prototype displays crucial visualizations that improve decision making on infrastructure investments. This approach leverages business intelligence and hierarchical visualization techniques, offering a solution to quantitatively assess bridge health and prioritize investments in national infrastructure efficiently.

Keywords: bridges, business intelligence, structural health index, structural health monitoring

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Authors: I. Goual, M. S. Goual, M. K. Gueddouda, Taïbi Saïd, Abou-Bekr Nabil, A. Ferhat

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This paper presents the study of hydro mechanical behavior of this optimal mixture. A first experimental phase was carried out in order to find the optimal mixture. This showed that the material composed of 80% tuff and 20% calcareous sand provides the maximum mechanical strength. The second experimental phase concerns the study of the drying- wetting behavior of the optimal mixture was carried out on slurry samples and compacted samples at the MPO. Experimental results let to deduce the parameters necessary for the prediction of the hydro-mechanical behavior of pavement formulated from tuff and calcareous sand mixtures, related to moisture. This optimal mixture satisfies the regulation rules and hence constitutes a good local eco-material, abundantly available, for the conception of pavements.

Keywords: tuff, sandy calcareous, road engineering, hydro mechanical behaviour, suction

Procedia PDF Downloads 507

Authors: Boukhris Lahouari, Bouchetara Mostefa

Abstract:

The active safety of a vehicle is mainly influenced by the properties of the installed braking system. With the increase in road traffic density and travel speeds, increasingly stringent requirements are placed on the vehicle's behaviour during braking. The achievable decelerations are limited by the physical aspect characterized by the coefficient of friction between the tires and the ground. As a result, it follows that an optimized distribution of braking forces becomes necessary for a better use of friction coefficients. This objective could only be achieved if sufficient knowledge is available on the theory of vehicle dynamics during braking and on current standards for the approval of braking systems. This will facilitate the development of a braking force calculation algorithm that will enable an optimized distribution of braking forces to be achieved. Operating safety is conditioned by the requirements of efficiency, progressiveness, regularity or fidelity of a braking system without obviously neglecting the recommendations imposed by the legislator.

Keywords: brake force distribution, distribution diagram, friction coefficient, brake by wire

Procedia PDF Downloads 80

Authors: Man Guo

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This paper delves into the intricate interplay between spatial morphology and spatial cognition in Lidukou Village, utilizing a combined approach of spatial syntax and field data. Through a comparative analysis of the gathered data, it emerges that the spatial integration level of Lidukou Village exhibits a direct positive correlation with the spatial cognitive preferences of its inhabitants. Specifically, the areas within the village that exhibit a higher degree of spatial cognition are predominantly distributed along the axis primarily defined by Shuxiang Road. However, the accessibility to historical relics remains limited, lacking a coherent systemic relationship. To address the morphological challenges faced by Lidukou Village, this study proposes optimization strategies that encompass diverse perspectives, including the refinement of spatial mechanisms and the shaping of strategic spatial nodes.

Keywords: traditional villages, spatial syntax, spatial integration degree, morphological problem

Procedia PDF Downloads 45

Authors: Urszula Malaga-Toboła, Marek Gugała, Rafał Kornas, Robert Rusinek, Marek Gancarz

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The work focused on presenting the elements that determine the quality of fresh milk in the context of the quality of its transport. The quality of the raw material depends on the quality of transport. Milk transport involves many activities in which, apart from the temperature and sterility of the means of transport, it is important not to expose the raw material to shocks. Recently, there have been changes in the milk supply chain, thus affecting the logistics processes between its links. Based on the conducted research and analyses, it was found that the condition of the road surface on which milk is transported affects its quality. For the T1 milk transport route- gravel roads of very poor and poor quality, the lowest number of bacteria and the highest number of somatic cells, fat content, and temperature of the transported milk were obtained. A well-organized integrated transport system is a real need for most companies today. The analysis showed significant differences in the quality of milk delivered to the dairy.

Keywords: fresh milk, transport, milk quality, dairy

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Authors: Ali Ocholi

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The study was conducted to analyze the impact of agro-allied industries on rural dwellers in Benue state, Nigeria. Stratified random sampling technique was used to select the respondents for the study. Primary data were collected through the use of structured questionnaires administered on 366 respondents from the selected communities; the data were analyzed using both descriptive and inferential statistics. The result of Mann-Whitney (U) statistics showed that water availability (14350) and good road network (15082.00) were the only social impact derived from the industries by the rural dwellers. The study recommended that right and proper policies and programmes should be put in place by the government to mandate all private and public agro-allied industries to embark on projects that would be in favour of the rural dwellers where the agro-allied industries are situated.

Keywords: agriculture, agro-allied industry, rural dwellers, Benue state

Procedia PDF Downloads 253

Authors: P. Kacejko, M. Wendeker

Abstract:

The fuel consumption of city buses depends on a number of factors that characterize the technical properties of the bus and driver, as well as traffic conditions. This parameter related to greenhouse gas emissions is regulated by law in many countries. This applies to both fuel consumption and exhaust emissions. Simulation studies are a way to reduce the costs of optimization studies. The paper describes simulation research of fuel consumption city bus driving. Parameters of the developed model are based on experimental results obtained on chassis dynamometer test stand and road tests. The object of the study was a city bus equipped with a compression-ignition engine. The verified model was applied to simulate the behavior of a bus during the CUEDC Australian Driving Cycle. The results of the calculations showed a direct influence of driving dynamics on fuel consumption.

Keywords: Australian Driving Cycle, city bus, diesel engine, fuel consumption

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Authors: Ali H. Mahfouz, Gao Ming-Jun, Mohamad Sharif

Abstract:

Slurry dredged soil at coastal area has a high water content, poor permeability, and low surface intensity. Hence, it is infeasible to use vacuum preloading method to treat this type of soil foundation. For the special case of super soft ground, a floating bridge is first constructed on muddy soil and used as a service road and platform for implementing the modified vacuum preloading method. The modified technique of vacuum preloading and its construction process for the super soft soil foundation improvement is then studied. Application of modified vacuum preloading method shows that the technology and its construction process are highly suitable for improving the super soft soil foundation in coastal areas.

Keywords: super soft foundation, dredger fill, vacuum preloading, foundation treatment, construction technology

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Authors: Min Wang, Sergey Utev

Abstract:

The lessons from the 2007-09 global financial crisis have driven scientific research, which considers the design of new methodologies and financial models in the global market. The quantum mechanics approach was introduced in the unpredictable stock market modeling. One famous quantum tool is Feynman path integral method, which was used to model insurance risk by Tamturk and Utev and adapted to formalize the path-dependent option pricing by Hao and Utev. The research is based on the path-dependent calculation method, which is motivated by the Feynman path integral method. The path calculation can be studied in two ways, one way is to label, and the other is computational. Labeling is a part of the representation of objects, and generating functions can provide many different ways of representing share price paths. In this paper, the recent works on graphical theoretical construction of individual share price path via matroid is presented. Firstly, a study is done on the knowledge of matroid, relationship between lattice path matroid and Tutte polynomials and ways to connect points in the lattice path matroid and Tutte polynomials is suggested. Secondly, It is found that a general binary tree can be validly constructed from a connected lattice path matroid rather than general lattice path matroid. Lastly, it is suggested that there is a way to represent share price paths via a general binary tree, and an algorithm is developed to construct share price paths from general binary trees. A relationship is also provided between lattice integer points and Tutte polynomials of a transversal matroid. Use this way of connection together with the algorithm, a share price path can be constructed from a given connected lattice path matroid.

Keywords: combinatorial construction, graphical representation, matroid, path calculation, share price, Tutte polynomial

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Authors: Amr Sultan, Sara Elgazzar, Breksal Elmiligy

Abstract:

The airline industry nowadays is becoming a more growing industry facing a severe competition. It is an influential issue in this context to utilize revenue management (RM) concept and practice in order to develop the pricing strategy. There is an unfathomable necessity for RM to assist the airlines and their associates to disparage the cost and recuperate their revenue, which in turn will boost the airline industry performance. The complexity of RM imposes enormous challenges on the airline industry. Several studies have been proposed on the RM adaptation in airlines industry while there is a limited availability of implementing RM and its complexity in the developing countries such as Egypt. This research represents a research schema about the implementation of the RM to the Egyptian airline industry. The research aims at investigating and demonstrating the complexities face implementing RM in the airline industry, up on which the research provides a comprehensive understanding of how to overcome these complexities while adapting RM in the Egyptian airline industry. An empirical study was conducted on the Egyptian airline sector based on a sample of four airlines (Egyptair, Britishair, KLM, and Lufthansa). The empirical study was conducted using a mix of qualitative and quantitative approaches. First, in-depth interviews were carried out to analyze the Egyptian airline sector status and the main challenges faced by the airlines. Then, a structured survey on the three different parties of airline industry; airlines, airfreight forwarders, and passengers were conducted in order to investigate the main complexity factors from different parties' points of view. Finally, a focus group was conducted to develop a best practice framework to overcome the complexities faced the RM adaptation in the Egyptian airline industry. The research provides an original contribution to knowledge by creating a framework to overcome the complexities and challenges in adapting RM in the airline industry generally and the Egyptian airline industry particularly. The framework can be used as a RM tool to increase the effectiveness and efficiency of the Egyptian airline industry performance.

Keywords: revenue management, airline industry, revenue management complexity, Egyptian airline industry

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Authors: Zanjbeel Tabassum, Cahit Ali Bayraktar, Asfa Muhammad Din, Murat Durucu

Abstract:

Six Sigma is a widely adapted quality improvement methodology applied throughout the world. Through this paper, an attempt has been made to identify Critical Success Factors (CSF) for successful implementation of Six Sigma in Pakistani Small and Medium-sized Enterprises (SMEs). A survey methodology was used to collect the data from SMEs in Pakistan. The results of this exploratory empirical research reflect the importance of different CSFs of Six Sigma implementation in SMEs in Pakistan. On the basis of extracted factors, a framework has been proposed for successful Six Sigma implementation in Pakistani SMEs. This study will provide a base for Pakistani SMEs and future researchers working in Six Sigma implementation and help them to prepare a road map to eradicate the hurdles in Six Sigma implementation.

Keywords: critical success factors, small medium enterprises (SMEs), six sigma, Pakistan

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Authors: Akerele Akintunde Hareef

Abstract:

GIS is an integrating tool for storing, retrieving, manipulating, and analyzing spatial data. It is a tool which defines an area with respect to features and other relevant thematic delineations. On the other hand, Environmental Impact Assessment in short is both positive and negative impact of an infrastructure on an environment. Impact of infrastructural projects on the environment is an aspect of development that barely get extensive portion of pre-project execution phase and when they do, the effects are most times not implemented to cushion the impact they have on human and the environment. In this research, infrastructural projects like road constructions, water reticulation projects, building constructions, bridge etc. have immense impact on the environment and the people that reside in location of construction. Hence, the need for this research tends to portray the relevance of Environmental Impact assessment in calculating the vulnerability of human and the environment to imbalance necessitated by this infrastructural development and how the use of GIS application can be optimally applied to annul or minimize the effect.

Keywords: environmental impact assessment (EIA), geographic information system (GIS), infrastructural projects, environment

Procedia PDF Downloads 552

Authors: Nigina Toktasynova, Sholpan Sagyndykova, Zhanat Kenzhebayeva, Maksat Kalimoldayev, Mariya Ishimova, Irbulat Utepbergenov

Abstract:

Any business needs a stable operation and continuous improvement, therefore it is necessary to constantly interact with the environment, to analyze the work of the enterprise in terms of employees, executives and consumers, as well as to correct any inconsistencies of certain types of processes and their aggregate. In the case of heat supply organizations, in addition to suppliers, local legislation must be considered which often is the main regulator of pricing of services. In this case, the process approach used to build a functional organizational structure in these types of businesses in Kazakhstan is a challenge not only in the implementation, but also in ways of analyzing the employee's salary. To solve these problems, we investigated the management system of heating enterprise, including strategic planning based on the balanced scorecard (BSC), quality management in accordance with the standards of the Quality Management System (QMS) ISO 9001 and analysis of the system based on expert judgment using fuzzy inference. To carry out our work we used the theory of fuzzy sets, the QMS in accordance with ISO 9001, BSC according to the method of Kaplan and Norton, method of construction of business processes according to the notation IDEF0, theory of modeling using Matlab software simulation tools and graphical programming LabVIEW. The results of the work are as follows: We determined possibilities of improving the management of heat-supply plant-based on QMS; after the justification and adaptation of software tool it has been used to automate a series of functions for the management and reduction of resources and for the maintenance of the system up to date; an application for the analysis of the QMS based on fuzzy inference has been created with novel organization of communication software with the application enabling the analysis of relevant data of enterprise management system.

Keywords: balanced scorecard, heat supply, quality management system, the theory of fuzzy sets

Procedia PDF Downloads 368