Search results for: infrastructure asset management

Authors: Khalid Kaddoura, Tarek Zayed

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Sewer networks are constructed to protect the communities and the environment from any contact with the sewer mediums. Pipelines, being laterals or sewer mains, and manholes form the huge underground infrastructure in every urban city. Due to the sewer networks importance, the infrastructure asset management field has extensive advancement in condition assessment and rehabilitation decision models. However, most of the focus was devoted to pipelines giving little attention toward manholes condition assessment. In fact, recent studies started to emerge in this area to preserve manholes from any malfunction. Therefore, the main objective of this study is to propose a condition assessment model for sewer manholes. The model divides the manhole into several components and determines the relative importance weight of each component using the Analytic Network Process (ANP) decision-making method. Later, the condition of the manhole is computed by aggregating the condition of each component with its corresponding weight. Accordingly, the proposed assessment model will enable decision-makers to have a final index suggesting the overall condition of the manhole and a backward analysis to check the condition of each component. Consequently, better decisions are made pertinent to maintenance, rehabilitation, and replacement actions.

Keywords: Analytic Network Process (ANP), condition assessment, decision-making, manholes

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Authors: Eman Hegazy, Stefan Anderberg, Joakim Krook

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Urban water infrastructure systems are central to functioning cities. For securing a continuous and efficient supply of the systems services, continuous investment, maintenance, and renewal are needed. Neglecting maintenance and renewal can lead to recurrent breakdown problems as systems age, which makes it more and more difficult to secure efficient long-term supply. Globally, many cities struggle with aging water infrastructure, often due to competing funding priorities. Investment in maintenance and renewal is not prioritized. The problem primarily stems from the challenge of reaping the benefits of investments promptly. The long-term benefits gained from investing in the renewal of water infrastructure may be achievable in the long run, resulting in the oversight of such investments. This leads to a build-up of "renewal debt" for future generations to inherit. Addressing this issue is difficult due to various contributing factors and the complex nature of the systems. The study aims to contribute to an increased understanding of the long-term management challenges of urban water infrastructure, the development of improved maintenance and renewal strategies through the examination of water infrastructure management, and the assessment of the adequacy of the maintenance and renewal in a case study, the city of Linköping, Sweden. Employing a multi-methods approach, this study utilized both qualitative and quantitative methods, including interviews, workshops, and data analysis. The findings of the study provided insights into the current status of the water and sewerage networks in Linkoping, highlighting the risks to ensuring reliable and sustainable water supply and discussing strategies for improving maintenance and renewal.

Keywords: case study, infrastructure management, renewal needs, Sweden, urban water infrastructure

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Authors: Haitam Emhemad, Brian Agnew, David Greenwood

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Amongst the many priorities facing Libya following the 2011 uprising is the provision of a transport infrastructure that will meet the nation’s needs and not undermine its prospects for economic prosperity as with many developing economies non-technical issues such as management, planning and financing are the major barriers to the efficient and effective provision of transport infrastructure. This is particularly true in the case of the effective incorporation of sustainability criteria, and the research upon which this paper is based involves the examination of alternative ways of approaching this problem. It is probably fair to say that criteria that relate to sustainability have not, historically, featured strongly in Libya’s approach to the development of its transport infrastructure. However, the current reappraisal of how best to redevelop the country’s transport infrastructure that has been afforded by recent events may offer the opportunity to alter this. The research examines recent case studies from a number of countries to explore ways in which sustainability has been included as a criterion for planning and procurement decisions. There will also be an in-depth investigation into the Libyan planning and legislative context to examine the feasibility of the introduction of such sustainability criteria into the process of planning and procurement of Libya’s transport infrastructure.

Keywords: Libya reconstruction, sustainability criteria, transport infrastructure, public transport

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Authors: Rima Almalla

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The purpose of the research project in Geography is to evaluate the applicability of urban green infrastructure approach in Finnish climate. The key focus will be on the operation and efficiency of green infrastructure on urban stormwater management. Green infrastructure approach refers to the employment of sufficient green covers as a modern and smart environmental solution to improve the quality of urban environments. Green infrastructure provides a wide variety of micro-scale ecosystem services, such as stormwater runoff management, regulation of extreme air temperatures, reduction of energy consumption, plus a variety of social benefits and human health and wellbeing. However, the cold climate of Finland with seasonal ground frost, snow cover and relatively short growing season bring about questions of whether green infrastructure works as efficiently as expected. To tackle this question, green infrastructure solutions will be studied and analyzed with manifold methods: stakeholder perspectives regarding existing and planned GI solutions will be collected by web based questionnaires, semi structured interviews and group discussions, and analyzed in both qualitative and quantitative methods. Targeted empirical field campaigns will be conducted on selected sites. A systematic literature review with global perspective will support the analyses. The findings will be collected, compiled and analyzed using geographic information systems (GIS). The findings of the research will improve our understanding of the functioning of green infrastructure in the Finnish environment in urban stormwater management, as a landscape element for citizens’ wellbeing, and in climate change mitigation and adaptation. The acquired information will be shared with stakeholders in interactive co-design workshops. As green covers have great demand and potential globally, the conclusions will have relevance in other cool climate regions and may support Finnish business in green infrastructure sector.

Keywords: climate change adaptation, climate change, green infrastructure, stormwater

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Authors: Bruno Vilić Belina, Ivan Župan

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Smart industry concepts and digital transformation are very popular in many industries. They develop their own digital platforms, which have an important role in innovations and transactions. The main idea of smart industry digital platforms is central data collection, industrial data integration, and data usage for smart applications and services. This paper presents the development of a digital platform for building critical infrastructure protection systems in smart industries. Different service contraction modalities in service level agreements (SLAs), customer relationship management (CRM) relations, trends, and changes in business architectures (especially process business architecture) for the purpose of developing infrastructural production and distribution networks, information infrastructure meta-models and generic processes by critical infrastructure owner demanded by critical infrastructure law, satisfying cybersecurity requirements and taking into account hybrid threats are researched.

Keywords: cybersecurity, critical infrastructure, smart industries, digital platform

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Authors: Mahmoud Jumah

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This paper presents the circumstances and decision making in case of change management in any industrial processes, and the effective strategic planning ensured to provide with the on time completion of projects. In this specific case, the Front End Engineering Design and the awarded Lump Sum Turn Key Contract had provided for full control and ownership of all Liquid Metering Skids by Controlling Team. The demarcation and location were changed, and the Ownership and Control of the Liquid Metering Skids inside the boundaries of the Asset Owner were transferred from Controlling Team to Asset Owner after the award of the LSTK Contract. The requested changes resulted in Adjustment Order and the relevant scope of work is an essential part of the original Contract. The majority of equipment and materials (i.e. liquid metering skids, valves, piping, etc.) has already been in process.

Keywords: critical path, project change management, stakeholders problem solving, strategic planning

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Authors: Suleiman Hassan Otuoze, Dexter Vernon Lloyd Hunt, Ian Jefferson

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Urbanization has continued to widen the gap between demand and resources available to provide resilient and sustainable transport services in many fast-growing developing countries' cities. Transport demand management is a decision-based optimization concept for both benchmarking and ensuring efficient use of transport resources. This study assesses the service quality of infrastructure and mobility services in the Nigerian cities of Kano and Lagos through five dimensions of quality (i.e., Tangibility, Reliability, Responsibility, Safety Assurance and Empathy). The methodology adopts a hybrid AHP-SERVQUAL model applied on questionnaire surveys to gauge the quality of satisfaction and the views of experts in the field. The AHP results prioritize tangibility, which defines the state of transportation infrastructure and services in terms of satisfaction qualities and intervention decision weights in the two cities. The results recorded ‘unsatisfactory’ indices of quality of performance and satisfaction rating values of 48% and 49% for Kano and Lagos, respectively. The satisfaction indices are identified as indicators of low performances of transportation demand management (TDM) measures and the necessity to re-order priorities and take proactive steps towards infrastructure. The findings pilot a framework for comparative assessment of recognizable standards in transport services, best ethics of management and a necessity of quality infrastructure to guarantee both resilient and sustainable urban mobility.

Keywords: transportation demand management, multi-criteria decision support, transport infrastructure, service quality, sustainable transport

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Authors: Deeksha Arora

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The study aims to explore the applicability of the widely used asset pricing models, namely, Capital Asset Pricing Model (CAPM) and the Fama-French Four Factor Model in the Indian equity market. The study will be based on the companies that form part of the Nifty Fifty Index for a period of five years: 2011 to 2016. The asset pricing model is examined by forming portfolios on the basis of three variables – market capitalization (size effect), book-to-market equity ratio (value effect) and profitability. The study provides a basis to test the presence of the Fama-French Four factor model in Indian stock market. This study may provide a basis for future research in the generalized asset pricing model comprising of multiple risk factors.

Keywords: book to market equity, Fama French four factor model, market capitalization, profitability, size effect, value effect

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Authors: Suraj Sharma

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Green infrastructure (GI) offers a contemporary approach for reducing the risk of flooding, improve water quality, and harvesting stormwater for sustainable use. GI promotes landscape planning to enhance sustainable development and urban resilience. However, the existing literature is lacking in ensuring the comprehensive assessment of GI performance in terms of ecosystem function and services for social, ecological, and economical system resilience. We propose a robust indicator set and fuzzy comprehensive evaluation (FCE) for quantitative and qualitative analysis for sustainable water management to assess the capacity of urban resilience. Green infrastructure in urban resilience water management system (GIUR-WMS) supports decision-making for GI planning through scenario comparisons with urban resilience capacity index. To demonstrate the GIUR-WMS, we develop five scenarios for five sectors of Chandigarh (12, 26, 14, 17, and 34) to test common type of GI (rain barrel, rain gardens, detention basins, porous pavements, and open spaces). The result shows the open spaces achieve the highest green infrastructure urban resilience index of 4.22/5. To implement the open space scenario in urban sites, suitable vacant can be converted to green spaces (example: forest, low impact recreation areas, and detention basins) GIUR-WMS is easy to replicate, customize and apply to cities of different sizes to assess environmental, social and ecological dimensions.

Keywords: green infrastructure, assessment, urban resilience, water management system, fuzzy comprehensive evaluation

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Authors: Shian Saroop, Dhiren Allopi

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In order to stay competitive and to meet upcoming stricter environmental regulations and customer requirements, designers have a key role in designing civil infrastructure so that it is environmentally sustainable. There is an urgent need for engineers to apply technologies and methods that deliver better and more sustainable performance of civil infrastructure as well as a need to establish a standard of measurement for greener infrastructure, rather than merely use tradition solutions. However, there are no systems in place at the design stage that assesses the environmental impact of design decisions on township infrastructure projects. This paper identifies alternative eco-efficient civil infrastructure design solutions and developed sustainability criteria and a toolkit to analyse the eco efficiency of infrastructure projects. The proposed toolkit is aimed at promoting high-performance, eco-efficient, economical and environmentally friendly design decisions on stormwater, roads, water and sanitation related to township infrastructure projects. These green solutions would bring a whole new class of eco-friendly solutions to current infrastructure problems, while at the same time adding a fresh perspective to the traditional infrastructure design process. A variety of projects were evaluated using the green infrastructure toolkit and their results are compared to each other, to assess the results of using greener infrastructure verses the traditional method of designing infrastructure. The application of ‘green technology’ would ensure a sustainable design of township infrastructure services assisting the design to consider alternative resources, the environmental impacts of design decisions, ecological sensitivity issues, innovation, maintenance and materials, at the design stage of a project.

Keywords: eco-efficiency, green infrastructure, infrastructure design, sustainable development

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Authors: Sandra T. Matarneh, Mark Danso-Amoako, Salam Al-Bizri, Mark Gaterell

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Today’s facilities are ever more sophisticated and the need for available and reliable information for operation and maintenance activities is vital. The key challenge for facilities managers is to have real-time accurate and complete information to perform their day-to-day activities and to provide their senior management with accurate information for decision-making process. Currently, there are various technology platforms, data repositories, or database systems such as Computer-Aided Facility Management (CAFM) that are used for these purposes in different facilities. In most current practices, the data is extracted from paper construction documents and is re-entered manually in one of these computerized information systems. Construction Operations Building information exchange (COBie), is a non-proprietary data format that contains the asset non-geometric data which was captured and collected during the design and construction phases for owners and facility managers use. Recently software vendors developed add-in applications to generate COBie spreadsheet automatically. However, most of these add-in applications are capable of generating a limited amount of COBie data, in which considerable time is still required to enter the remaining data manually to complete the COBie spreadsheet. Some of the data which cannot be generated by these COBie add-ins is essential for facilities manager’s day-to-day activities such as job sheet which includes preventive maintenance schedules. To facilitate a seamless data transfer between BIM models and facilities management systems, we developed a framework that enables automated data generation using the data extracted directly from BIM models to external web database, and then enabling different stakeholders to access to the external web database to enter the required asset data directly to generate a rich COBie spreadsheet that contains most of the required asset data for efficient facilities management operations. The proposed framework is a part of ongoing research and will be demonstrated and validated on a typical university building. Moreover, the proposed framework supplements the existing body of knowledge in facilities management domain by providing a novel framework that facilitates seamless data transfer between BIM models and facilities management systems.

Keywords: building information modeling, BIM, facilities management systems, interoperability, information management

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Authors: Arslan Murtaza

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RFID (Radio Frequency Identification) and WSN (Wireless sensor network) are two significant wireless technologies that have extensive diversity of applications and provide limitless forthcoming potentials. RFID is used to identify existence and location of objects whereas WSN is used to intellect and monitor the environment. Incorporating RFID with WSN not only provides identity and location of an object but also provides information regarding the condition of the object carrying the sensors enabled RFID tag. It can be widely used in stock management, asset tracking, asset counting, security, military, environmental monitoring and forecasting, healthcare, intelligent home, intelligent transport vehicles, warehouse management, and precision agriculture. This assessment presents a brief introduction of RFID, WSN, and integration of WSN and RFID, and then applications related to both RFID and WSN. This assessment also deliberates status of the projects on RFID technology carried out in different computing group projects to be taken on WSN and RFID technology.

Keywords: wireless sensor network, RFID, embedded sensor, Wi-Fi, Bluetooth, integration, time saving, cost efficient

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Authors: Peter Ekene Egwu

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Waste management is of critical importance in Africa for reasons related to public health, human dignity, climate resilience and environmental preservation. However, delivering waste management services requires adequate funding, which has generally been lacking in a context where the generation of waste is outpacing the development of waste management infrastructure in most cities. The sector represents a growing percentage of cities’ greenhouse gas (GHG) emissions, and some of the African cities profiled in this study are now designing waste management strategies with emission reduction in mind.

Keywords: management waste material, Africa, uses of new technology to manage waste, waste management

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Authors: Aruna Kemisola Kehinde, Oyinloye Michael Ajide, Aboluje Oluwafemi Bolarinwa

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The development of the nation's overall growth is directly impacted by the vital substructure of the transportation system. The majority of developing countries experience issues with road transportation, including limited and low-quality infrastructure. The study assessed intra-city road infrastructure in Ado-Ekiti with a view to identifying its adequacy and functionality for efficient transport in the town. To this end, the study examined the locations of the road infrastructure, characteristics of the road infrastructure, and condition of the road infrastructure. A systematic random sampling method was adopted to select respondents for the study. Data were sourced from both primary and secondary sources. A 2.5% of 20,160 households, amounting to 503 households, was used as the sample size. Data analysis was based on responses from 500 questionnaires retrieved, and the data were analyzed using descriptive statistics. The results of this study showed that based on the locations of road infrastructure, disparity exists in the distribution of infrastructure amongst the major roads. Inferences from the results gathered also demonstrated that the infrastructure that is available is very much less than the non-available infrastructure. About 50% of the respondents are satisfied that the condition of road infrastructure in Ado-Ekiti is fair. The study's recommendations for the Ekiti state government include quantifying the number of existing road infrastructure, establishing a state maintenance board to expedite their renovation, and diversifying its goals for providing road infrastructure through public-private partnership (PPP) agreements with the private sector.

Keywords: road transportation, infrastructure, availability, intra-city

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Authors: Ncedo Cameron Xhala

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Several public sector institutions lack policy direction on how to successfully implement their large infrastructure investment projects. It is significant to improve strategic policy direction in public sector institutions in order to improve planning, management and implementation of large infrastructure investment projects. It is significant to improve an understanding of internal and external pressures that exerts pressure on large infrastructure projects. The significance is to fulfill the public sector’s mandate, align the sectors’ scarce resources, stakeholders and to improve project management processes. The study used a case study approach which was underpinned by a constructionist approach. The study used a theoretical sampling technique when selecting study participants, and was followed by a snowball sampling technique that was used to select an identified case study project purposefully. The study was qualitative in nature, collected and analyzed qualitative empirical data from the purposefully selected five subject matter experts and has analyzed the case study documents. The study used a semi-structured interview approach, analysed case study documents in a qualitative approach. The interviews were on a face-to-face basis and were guided by an interview guide with focused questions. The study used a three coding process step comprising of one to three steps when analysing the qualitative empirical data. Findings reveal that an improvement of strategic policy direction in public sector institutions improves the integration in planning, management and on implementation on large infrastructure investment projects. Findings show the importance of understanding the external and internal pressures when implementing public sector’s large infrastructure investment projects. The study concludes that strategic policy direction in public sector institutions results in improvement of planning, financing, delivery, monitoring and evaluation and successful implementation of the public sector’s large infrastructure investment projects.

Keywords: implementation, infrastructure, investment, management

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Authors: Jasman Tuyon, Zamri Ahmad

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Behavioral asset pricing research has been gaining momentum since in 1990s. However, it is still incomplete and has been criticized for some philosophical, theoretical and model specification limitations. Due to these drawbacks, investors’ behaviors as a source of risk in behavioral asset pricing modeling still remains disputable. This paper aims to address these issues with an alternative perspective based on behavioral finance paradigm. Specifically, this paper proposes a theoretical linkages of both fundamental and behavioral risks on stock prices formation and an extension of the multifactor stock pricing model by combining multi-factor fundamentals and behavioral risks factors.

Keywords: behavioral finance, multifactor asset pricing, behavioral risks, fundamental risks

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Authors: Oluwatosin Adewale

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The sustainability of built heritage has become a relevant issue in recent years due to the social and economic values associated with these buildings. Heritage buildings provide a means for human perception of culture and represent a legacy of long-existing history; they define the local character of the social world and provide a vital connection to the past with their associated aesthetical and communal benefits. The identified values of heritage buildings have increased the importance of conservation and the lifecycle management of these buildings. The recent developments of digital design technology in engineering and the built environment have led to the adoption of Building Information Modelling (BIM) by the Architecture, Engineering, Construction, and Operations (AECO) industry. BIM provides a platform for the lifecycle management of a construction project through effective collaboration among stakeholders and the analysis of a digital information model. This growth in digital design technology has also made its way into the field of architectural heritage management in the form of Historic Building Information Modelling (HBIM). A reverse engineering process for digital documentation of heritage assets that draws upon similar information management processes as the BIM process. However, despite the several scientific and technical contributions made to the development of the HBIM process, it doesn't remain easy to integrate at the most practical level of heritage asset management. The main objective identified under the scope of the study is to review the limitations and challenges faced by heritage management professionals in adopting an HBIM-based asset management procedure for historic building projects. This paper uses an exploratory study in the form of semi-structured interviews to investigate the research problem. A purposive sample of heritage industry experts and professionals were selected to take part in a semi-structured interview to appraise some of the limitations and challenges they have faced with the integration of HBIM into their project workflows. The findings from this study will present the challenges and limitations faced in applying and integrating the HBIM concept for the management of historic buildings.

Keywords: building information modelling, built heritage, heritage asset management, historic building information modelling, lifecycle management

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Authors: Arkaprabha Bhattacharyya, Makarand Hastak

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The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: economic growth, infrastructure development, infrastructure projects, strategic investment

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Authors: Seppo Sirkemaa

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Information systems infrastructure is the basis of business systems and processes in the company. It should be a reliable platform for business processes and activities but also have the flexibility to change business needs. The development of an infrastructure that is robust, reliable, and flexible is a challenge. Understanding technological capabilities and business needs is a key element in the development of successful information systems infrastructure.

Keywords: development, information technology, networks, technology

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Authors: Yu-Cheng Lin, Yu-Chih Su

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Generally, there are many numerous existing problems during the construction phase special in civil engineering. The problems communication and management (PCM) of civil engineering are important and necessary to enhance the performance of construction management. The civil information modelling (CIM) approach is used to retain information with digital format and assist easy updating and transferring of information in the 3D environment for all related civil and infrastructure projects. When the application of CIM technology is adopted in infrastructure projects, all the related project participants can discuss problems and obtain feedback and responds among project participants integrated with the assistance of CIM models 3D illustration. Usually, electronic mail (e-mail) is one of the most popular communication tools among all related participants for rapid transit system (MRT), also known as a subway or metro, construction project in Taiwan. Furthermore, all interfaces should be traced and managed effectively during the process. However, there are many problems with the use of e-mail for communication of all interfaces. To solve the above problems, this study proposes a CIM-based Problem Communication and Management (CPCM) system to improve performance of problem communication and management. The CPCM system is applied to a case study of an MRT project in Taiwan to identify its CPCM effectiveness. Case study results show that the proposed CPCM system and Markup-enabled CIM Viewer are effective CIM-based communication tools in CIM-supported PCM work of civil engineering. Finally, this study identifies conclusion, suggestion, benefits, and limitations for further applications.

Keywords: building information modeling, civil information modeling, infrastructure, general contractor

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Authors: Debasis Sarkar

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Clean development mechanism (CDM) can act as an effective instrument for mitigating climate change. This mechanism can effectively reduce the emission of CO2 and other green house gases (GHG). Construction of a mega infrastructure project like underground corridor construction for metro rail operation involves in consumption of substantial quantity of concrete which consumes huge quantity of energy consuming materials like cement and steel. This paper is an attempt to develop an integrated clean development mechanism and risk management approach for sustainable development for an underground corridor metro rail project in India during its construction phase. It was observed that about 35% reduction in CO2 emission can be obtained by adding fly ash as a part replacement of cement. The reduced emission quantity of CO2 which is of the quantum of about 21,646.36 MT would result in cost savings of approximately INR 8.5 million (USD 1,29,878).But construction and operation of such infrastructure projects of the present era are subject to huge risks and uncertainties throughout all the phases of the project, thus reducing the probability of successful completion of the project within stipulated time and cost frame. Thus, an integrated approach of combining CDM with risk management would enable the metro rail authorities to develop a sustainable risk mitigation measure framework to ensure more cost and energy savings and lesser time and cost over-run.

Keywords: clean development mechanism (CDM), infrastructure transportation, project risk management, underground metro rail

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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

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki, Anastasia Kalamakidou

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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in the decision process and –many times- the investment and business risks are high. Decision makers and stakeholders need to define the framework and the outputs of the decision process taking into account the project characteristics, the business uncertainties, and the different expectations. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross-border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analysed. Adopting the on system of system methodological approach, the decision making the framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey, and Bulgaria.

Keywords: system of system decision making, managing decisions for transport projects, decision support framework, defining decision process

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Authors: Nony Rahadiva

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The development of housing in urban areas can not be separated from the high rate of population growth from both natural population growth and population growth due to migration. The development is bounded by urban land area so that construction of flats become a development priority. Quality of residential flats are influenced by the patterns of behavior of its inhabitants. The frequency of contact between the occupants become one of the effects of good social relations, but harmful activity can degrade the environment, especially in flats. One of the social relationships that can be seen on the flats development is the residents in Kutobedah flat built in Malang city. Problems that occur in that place is unfavorable flat management due to social activities such as daily activities and also the neighboring activities of apartment dwellers who tend not to pay attention to the environment. Based on these problems we can do a study on social interaction in Kutobedah flat and its influence on the management of flat facilities and infrastructures. This research was carried out by submitting a questionnaire to the residents of the apartment based social activities , operations and maintenance of the flats. By using a weighted analysis, we can find that social interaction tenants is high, but the level of infrastructure and facilities management of the tenants is low so it is needed to counsel the residents how to use and maintain the infrastructure properly.

Keywords: activities, flat, infrastructure management, social interaction

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Authors: Abigail Mosetsanagape Mooketsi, Itumeleng Pleasure Mongale, Joel Hinaunye Eita

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The aim of this study is to analyse the impact of transport infrastructure on economic growth in South Africa through Engle Granger two step approach using the data from 1970 to 2013. GDP is used as a proxy for economic growth whilst rail transport (rail lines, rail goods transported) and air transport(air passengers carried, air freight) are used as proxies for transport infrastructure. The results showed that there is a positive long-run relationship between transport infrastructure and economic growth. The results show that South Africa’s economic growth can be boosted by providing transport infrastructure. The estimated models were simulated and the results that the model is a good fit. The findings of this research will be beneficial to policy makers, academics and it will also enhance the ability of the investors to make informed decisions about investing in South Africa.

Keywords: transport, infrastructure, economic growth, South Africa

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Authors: Kathy Pain, Nalumino Akakandelwa

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The study explores the potential to fill a gap in health and wellbeing evidence for purposeful urban real estate asset management to make investment a powerful force for societal good. Part of a five-year programme investigating the root causes of unhealthy urban development funded by the United Kingdom Prevention Research Partnership (UKPRP), the study pilots the use of a systems mapping approach to identify drivers and barriers to the incorporation of health and wellbeing evidence in urban brownfield asset management decision-making. Urban real estate not only provides space for economic production but also contributes to the quality of life in the local community. Yet market approaches to urban land use have, until recently, insisted that neo-classical technology-driven efficient allocation of economic resources should inform acquisition, operational, and disposal decisions. Buildings in locations with declining economic performance have thus been abandoned, leading to urban decay. Property investors are recognising the inextricable connection between sustainable urban production and quality of life in local communities. The redevelopment and operation of brownfield assets recycle existing buildings, minimising embodied carbon emissions. It also retains established urban spaces with which local communities identify and regenerate places to create a sense of security, economic opportunity, social interaction, and quality of life. Social implications of urban real estate on health and wellbeing and increased adoption of benign sustainability guidance in urban production are driving the need to consider how they affect brownfield real estate asset management decisions. Interviews with real estate upstream decision-makers in the study, find that local social needs and impact analysis is becoming a commercial priority for large-scale urban real estate development projects. Evidence of the social value-added of proposed developments is increasingly considered essential to secure local community support and planning permissions, and to attract sustained inward long-term investment capital flows for urban projects. However, little is known about the contribution of population health and wellbeing to socially sustainable urban projects and the monetary value of the opportunity this presents to improve the urban environment for local communities. We report early findings from collaborations with two leading property companies managing major investments in brownfield urban assets in the UK to consider how the inclusion of health and wellbeing evidence in social valuation can inform perceptions of brownfield development social benefit for asset managers, local communities, public authorities and investors for the benefit of all parties. Using holistic case studies and systems mapping approaches, we explore complex relationships between public health considerations and asset management decisions in urban production. Findings indicate a strong real estate investment industry appetite and potential to include health as a vital component of sustainable real estate social value creation in asset management strategies.

Keywords: brownfield urban assets, health and wellbeing, social needs and impact, social valuation, sustainable real estate, systems mapping

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Authors: Hugh Byrd, Steve Matthewnan

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The devastation of the city centre of Christchurch, New Zealand, after the 2010 and 2011 earthquakes presented an opportunity to rebuild infrastructure in a coordinated and efficient manner to allow for a city that was energy efficient, low carbon, resilient and provided both energy security and justice. The research described in this paper records the processes taken to attempt to rebuild the energy infrastructure. The story is one of political decisions overriding appropriate technology and ultimately is a lesson in how not to handle the implementation of post-disaster energy infrastructure. Lack of clarity in decision making by central government and then not pursuing consultant’s recommendations led to a scheme that was effectively abandoned in 2016 and described as ‘a total failure’. The paper records the critical events that occurred and explains why the proposed energy infrastructure was both politically and technologically inappropriate.

Keywords: energy infrastructure, policy and governance, post-disaster rebuilding

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Authors: Robin Molinier

Abstract:

Industrial symbiosis (I.S) deals with both substitution synergies (exchange of waste materials, fatal energy and utilities as resources for production) and infrastructure/service sharing synergies. The latter is based on the intensification of use of an asset and thus requires to balance capital costs increments with snowball effects (network externalities) for its implementation. Initial investors must specify ex-ante arrangements (cost sharing and pricing schedule) to commit toward investments in capacities and transactions. Our model investigate the decision of 2 actors trying to choose cooperatively a level of infrastructure capacity oversizing to set a plug-and-play offer to a potential entrant whose capacity requirement is randomly distributed while satisficing their own requirements. Capacity cost exhibits sub-additive property so that there is room for profitable overcapacity setting in the first period. The entrant’s willingness-to-pay for the access to the infrastructure is dependent upon its standalone cost and the capacity gap that it must complete in case the available capacity is insufficient ex-post (the complement cost). Since initial capacity choices are driven by ex-ante (expected) yield extractible from the entrant we derive the expected complement cost function which helps us defining the investors’ objective function. We first show that this curve is decreasing and convex in the capacity increments and that it is shaped by the distribution function of the potential entrant’s requirements. We then derive the general form of solutions and solve the model for uniform and triangular distributions. Depending on requirements volumes and cost assumptions different equilibria occurs. We finally analyze the effect of a per-unit subsidy a public actor would apply to foster such sharing synergies.

Keywords: capacity, cooperation, industrial symbiosis, pricing

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Authors: Sayan Munshi, Subrajit Banerjee, Indrani Chakraborty

Abstract:

Tourism is a prime sector in the economic development of many countries in particular the Indian sub-continent. Tourism is considered an integral pillar in the Make in India Program under the Government of India. The statistics of tourism in India had evolved from a past with the formation of History. The sector had shown dynamic changes in the statistics since 1980. With the evolving tourism along with destinations, this sector has been converted into the prime industry, as it not only impacts the destination but on the other hand supports the periphery of the destination. Tourism boost revenue and creates varied economic possibilities for the residents. Due to the influx of tourism in the cities, a load on the infrastructure and services can be observed, specifically in the Physical Infrastructure sectors. Due to the floating population in the designated tourism core of the Urban / Peri-Urban area, issues pertaining to Solid waste management and Transportation are highly observed. Thus, a need for capacity building arises for the infrastructure impacted by tourism, which may result in the upgradation of the lifestyle of the city and its permanent users. As tourism of a region has a dependency on the infrastructure, the paper here focuses on the relationship between tourism potential of a region and the infrastructural determinants of the city or region and hence to derive a structural equation supporting the relationship, further determine a coefficient and suggest the domain of in need of upgradation or retrofitting possibilities. The outcome of the paper is to suggest possible recommendations towards the formation of policies on an urban level to support the tourism potential of the region.

Keywords: urban planning, tourism planning, infrastructure, transportation, solid waste management

Procedia PDF Downloads 106

Authors: Debasis Sarkar

Abstract:

Building Information Modeling (BIM) is a holistic documentation process for operational visualization, design coordination, estimation and project scheduling. BIM software defines objects parametrically and it is a tool for virtual reality. Primary advantage of implementing BIM is the visual coordination of the building structure and systems such as Mechanical, Electrical and Plumbing (MEP) and it also identifies the possible conflicts between the building systems. This paper is an attempt to develop a risk based BIM model which would highlight the primary advantages of application of BIM pertaining to urban infrastructure transportation project. It has been observed that about 40% of the Architecture, Engineering and Construction (AEC) companies use BIM but primarily for their outsourced projects. Also, 65% of the respondents agree that BIM would be used quiet strongly for future construction projects in India. The 3D models developed with Revit 2015 software would reduce co-ordination problems amongst the architects, structural engineers, contractors and building service providers (MEP). Integration of risk management along with BIM would provide enhanced co-ordination, collaboration and high probability of successful completion of the complex infrastructure transportation project within stipulated time and cost frame.

Keywords: building information modeling (BIM), infrastructure transportation, project risk management, underground metro rail

Procedia PDF Downloads 296