Search results for: lifecycle cost analysis

Authors: K. C. Iyer, T. Gupta, Y. M. Bindal

Abstract:

Head office overhead (HOOH) is an indirect cost and is recovered through individual project billings by the contractor. Delay in a project impacts the absorption of HOOH cost allocated to that particular project and thus diminishes the expected profit of the contractor. This unabsorbed HOOH cost is later claimed by contractors as damages. The subjective nature of the available formulae to compute unabsorbed HOOH is the difficulty that contractors and owners face and thus dispute it. The paper attempts to bring together the rationale of various HOOH formulae by gathering contractor’s HOOH cost data on all of its project, using case study approach and comparing variations in values of HOOH using scenario analysis. The case study approach uses project data collected from four construction projects of a contractor in India to calculate unabsorbed HOOH costs from various available formulae. Scenario analysis provides further variations in HOOH values after considering two independent situations mainly scope changes and new projects during the delay period. Interestingly, one of the findings in this study reveals that, in spite of HOOH getting absorbed by additional works available during the period of delay, a few formulae depict an increase in the value of unabsorbed HOOH, neglecting any absorption by the increase in scope. This indicates that these formulae are inappropriate for use in case of a change to the scope of work. Results of this study can help both parties in deciding on an appropriate formula more objectively, considering the events on a project causing the delay and contractor's position in respect of obtaining new projects.

Keywords: absorbed and unabsorbed overheads, head office overheads, scenario analysis, scope variation

Procedia PDF Downloads 165

Authors: N. Wongsai, R. Wetprasit, V. Siddoo

Abstract:

The recently introduced ISO/IEC 29110 standard Lifecycle profile for Very Small Entities (VSE) has been adopted and practiced in many small and medium software companies, including in Thailand’s software industry. Many Thai companies complete their software process improvement (SPI) initiative program and have been certified. There are, however, a number of participants fail to success. This study was concerned with the factors that influence the accomplishment of the standard implementation in various VSE characteristics. In order to achieve this goal, exploring and extracting critical factors from prior studies were carried out and then the obtained factors were validated by the standard experts. Data analysis of comments and recommendations was performed using a qualitative content analysis method. This paper presents the initial set of influence factors in both positive and negative impact the ISO/IEC 29110 implementation with an aim at helping such SPI practitioners with some considerations to manage appropriate adoption approach in order to achieve its implementation.

Keywords: barriers, critical success factors, ISO/IEC 29110, Software Process Improvement, SPI, Very-Small Entity, VSE

Procedia PDF Downloads 315

Authors: Shazali Abdulahi

Abstract:

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

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

Procedia PDF Downloads 52

Authors: Bonginkosi A. Thango, Jacobus A. Jordaan, Agha F. Nnachi

Abstract:

In this day and age, there is a proliferate concern from all governments across the globe to barricade the environment from greenhouse gases, which absorb infrared radiation. As a result, solar photovoltaic (PV) electricity has been an expeditiously growing renewable energy source and will eventually undertake a prominent role in the global energy generation. The selection and purchasing of energy-efficient transformers that meet the operational requirements of the solar photovoltaic energy generation plants then become a part of the Independent Power Producers (IPP’s) investment plan of action. Taking these into account, this paper proposes a procedure that put into effect the intricate financial analysis necessitated to precisely evaluate the transformer service lifetime no-load and load loss factors. This procedure correctly set forth the transformer service lifetime loss factors as a result of a solar PV plant’s sporadic generation profile and related levelized costs of electricity into the computation of the transformer’s total ownership cost. The results are then critically compared with the conventional transformer total ownership cost unaccompanied by the emission costs, and demonstrate the significance of the sporadic energy generation nature of the solar PV plant on the total ownership cost. The findings indicate that the latter play a crucial role for developers and Independent Power Producers (IPP’s) in making the purchase decision during a tender bid where competing offers from different transformer manufactures are evaluated. Additionally, the susceptibility analysis of different factors engrossed in the transformer service lifetime cost is carried out; factors including the levelized cost of electricity, solar PV plant’s generation modes, and the loading profile are examined.

Keywords: solar photovoltaic plant, transformer, total ownership cost, loss factors

Procedia PDF Downloads 130

Authors: Kwong Yeung

Abstract:

Theories about strategic purchasing and quality performance are underdeveloped. Understanding the evolving role of purchasing from reactive to proactive is a pressing strategic issue. Using survey responses from 176 manufacturing and electronics industry professionals, we study the relationships between strategic purchasing and supply chain partners’ quality performance to answer the following questions: Can transaction cost economics be used to elucidate the strategic purchasing-quality performance relationship? Is this strategic purchasing-quality performance relationship moderated by critical item analysis? The findings indicate that critical item analysis positively and significantly moderates the strategic purchasing-quality performance relationship.

Keywords: critical item analysis, moderation, quality performance, strategic purchasing, transaction cost economics

Procedia PDF Downloads 563

Authors: Shalaka Kadam, Dinesh Apte, Sagar Mainkar

Abstract:

The life cycle of products is becoming shorter and shorter due to increased competition in market, shorter product development time and increased product diversity. Short life cycles are normal in retail industry, style business, entertainment media, and telecom and semiconductor industry. The subject of accurate forecasting for demand of short lifecycle products is of special enthusiasm for many researchers and organizations. Due to short life cycle of products the amount of historical data that is available for forecasting is very minimal or even absent when new or modified products are launched in market. The companies dealing with such products want to increase the accuracy in demand forecasting so that they can utilize the full potential of the market at the same time do not oversupply. This provides the challenge to develop a forecasting model that can forecast accurately while handling large variations in data and consider the complex relationships between various parameters of data. Many statistical models have been proposed in literature for forecasting time series data. Traditional time series forecasting models do not work well for short life cycles due to lack of historical data. Also artificial neural networks (ANN) models are very time consuming to perform forecasting. We have studied the existing models that are used for forecasting and their limitations. This work proposes an effective and powerful forecasting approach for short life cycle time series forecasting. We have proposed an approach which takes into consideration different scenarios related to data availability for short lifecycle products. We then suggest a methodology which combines statistical analysis with structured judgement. Also the defined approach can be applied across domains. We then describe the method of creating a profile from analogous products. This profile can then be used for forecasting products with historical data of analogous products. We have designed an application which combines data, analytics and domain knowledge using point-and-click technology. The forecasting results generated are compared using MAPE, MSE and RMSE error scores. Conclusion: Based on the results it is observed that no one approach is sufficient for short life-cycle forecasting and we need to combine two or more approaches for achieving the desired accuracy.

Keywords: forecast, short life cycle product, structured judgement, time series

Procedia PDF Downloads 358

Authors: Tauha Hussain Ali, Shabir Hussain Khahro, Nafees Ahmed Memon

Abstract:

Accurate prediction of project time for planning and bid preparation stage should contain realistic dates. Constructors use their experience to estimate the project duration for the new projects, which is based on intuitions. It has been a constant concern to both researchers and constructors to analyze the accurate prediction of project duration for bid preparation stage. In Pakistan, such study for time cost relationship has been lacked to predict duration performance for the construction projects. This study is an attempt to explore the time cost relationship that would conclude with a mathematical model to predict the time for the drainage rehabilitation projects in the province of Sindh, Pakistan. The data has been collected from National Engineering Services (NESPAK), Pakistan and regression analysis has been carried out for the analysis of results. Significant relationship has been found between time and cost of the construction projects in Sindh and the generated mathematical model can be used by the constructors to predict the project duration for the upcoming projects of same nature. This study also provides the professionals with a requisite knowledge to make decisions regarding project duration, which is significantly important to win the projects at the bid stage.

Keywords: BTC Model, project time, relationship of time cost, regression

Procedia PDF Downloads 382

Authors: Irvan Adhin Cholilie, Susinggih Wijana, Yusron Sugiarto

Abstract:

The aim of this research is to compare the results of black grass jelly produced using laboratory scale and double scale. In this research, the production from the laboratory scale is using ingredients of 1 kg black grass jelly added with 5 liters of water, while the double scale is using 5 kg black grass jelly and 75 liters of water. The results of organoleptic tests performed by 30 panelists (general) to the sample gels of grass black powder produced from both of laboratory and double scale are not different significantly in color, odor, flavor, and texture. Proximate test results conducted in both of grass black jelly powder produced in laboratory scale and double scale also have no significant differences in all parameters. Grass black jelly powder from double scale contains water, carbohydrate, crude fiber, and yield in the amount of 12,25 %; 43,7 %; 5,89 %; and 16,28 % respectively. The results of the energy efficiency analysis by boiling, draining, evaporation, drying, and milling processes are 85,11 %; 76,97 %; 99,64 %; 99,99% and 99,39% respectively. The utility needs including water needs for each batch amounted 0.1 m3 and cost Rp 220,5 per batch, the electricity needs for each batch is 20.01 kWh and cost Rp 18569.28 per batch, and LPG needs for each batch is 30 kg costed Rp 234,000.00 so that the total cost spent for the process is Rp 252,789.78 .

Keywords: black grass jelly, powder, mass balance, energy balance, cost

Procedia PDF Downloads 385

Authors: Ioanna Pagoni, Annitsa Koumoutsidi

Abstract:

The aim of this paper is to estimate the efficiency of airports that are located in touristic regions. It focuses on the regional airports of Greece, which are located at the mainland and the islands that constitute touristic destinations. Most of these airports share the following characteristics. They operate at levels below capacity with a high level of seasonality to their traffic. In addition, in such airports, the operation of charter and low-cost airlines is significant. The efficiency of the study airports is calculated by using the non-parametric data envelopment analysis during the period of 2010-2016. The selected inputs include several airport infrastructure measures such as passenger terminal size, aircraft parking area, runway length, and the number of check-in counters, while the number of employees in each airport is also used. The number of passengers and aircraft movements are selected as outputs. The effect of seasonality, as well as the operation of charter airlines and low-cost carriers on airport efficiency, is estimated by running proper regression models. Preliminary findings indicate that low-cost and charter airlines contribute to increasing airport efficiency for most of the study airports. The results of this research could be useful for airlines, airport operators, hotel businesses, and other tourism-related operators.

Keywords: airport efficiency, data envelopment analysis, low-cost carriers, charter airlines, seasonality

Procedia PDF Downloads 126

Authors: C. E. Ogbanje, S. A. N. D. Chidebelu, N. J. Nweze

Abstract:

The study evaluated off-farm work and cost efficiency in staple food production among small-scale farmers in North Central Nigeria. Multistage sampling technique was used to select 360 respondents (participants and non-participants in off-farm work). Primary data obtained were analysed using stochastic cost frontier and test of means’ difference. Capital input was lower for participants (N2,596.58) than non-participants (N11,099.14). Gamma (γ) was statistically significant. Farm size significantly (p<0.01) increased cost outlay for participants and non-participants. Average input prices of enterprises one and two significantly (p<0.01) increased cost. Sex, household size, credit obtained, formal education, farming experience, and farm income significantly (p<0.05) reduced cost inefficiency for non-participants. Average cost efficiency was 11%. Farm capital was wasted. Participants’ substitution of capital for labour did not put them at a disadvantage. Extension agents should encourage farmers to obtain financial relief from off-farm work but not to the extent of endangering farm cost efficiency.

Keywords: cost efficiency, mean difference, North Central Nigeria, off-farm work, participants and non-participants, small-scale farmers

Procedia PDF Downloads 362

Authors: Christophe Spaas, Lies Pottel, Joke De Ceulaer, Johan Abeloos, Philippe Lamoral, Tom De Backer, Calix De Clercq

Abstract:

We aimed to evaluate the accuracy of an in-house developed low-cost computer-assisted surgery (CAS) protocol for osseous free flap mandibular reconstruction. All patients who underwent primary or secondary mandibular reconstruction with a free (solely or composite) osseous flap, either a fibula free flap or iliac crest free flap, between January 2014 and December 2017 were evaluated. The low-cost protocol consisted out of a virtual surgical planning, a prebend custom reconstruction plate and an individualized free flap positioning guide. The accuracy of the protocol was evaluated through comparison of the postoperative outcome with the 3D virtual planning, based on measurement of the following parameters: intercondylar distance, mandibular angle (axial and sagittal), inner angular distance, anterior-posterior distance, length of the fibular/iliac crest segments and osteotomy angles. A statistical analysis of the obtained values was done. Virtual 3D surgical planning and cutting guide design were performed with Proplan CMF® software (Materialise, Leuven, Belgium) and IPS Gate (KLS Martin, Tuttlingen, Germany). Segmentation of the DICOM data as well as outcome analysis were done with BrainLab iPlan® Software (Brainlab AG, Feldkirchen, Germany). A cost analysis of the protocol was done. Twenty-two patients (11 fibula /11 iliac crest) were included and analyzed. Based on voxel-based registration on the cranial base, 3D virtual planning landmark parameters did not significantly differ from those measured on the actual treatment outcome (p-values >0.05). A cost evaluation of the in-house developed CAS protocol revealed a 1750 euro cost reduction in comparison with a standard CAS protocol with a patient-specific reconstruction plate. Our results indicate that an accurate transfer of the planning with our in-house developed low-cost CAS protocol is feasible at a significant lower cost.

Keywords: CAD/CAM, computer-assisted surgery, low-cost, mandibular reconstruction

Procedia PDF Downloads 141

Authors: Golnaz Moghimi, Alireza Afsharghotli, Alireza Rezaei

Abstract:

Construction waste has been gradually increased as a result of upsizing construction projects which are occurred within the lifecycle of buildings. Since waste management is a major priority and has profound impacts on the volume of waste generated in construction stage, the majority of efforts have been attempted to reuse, recycle and reduce waste. However, there is still room to study on lack of sufficient knowledge about waste management in construction industry. This paper intends to provide an insight into the effect of project management knowledge areas on waste management solely on construction stage. To this end, a survey among Iranian building construction industry contractors was conducted to identify the effectiveness of project management knowledge areas on three jobsite key factors including ‘Site activity’, ‘Training’, and ‘Awareness’. As a result, four management disciplines were identified as most influential ones on amount of construction waste. These disciplines were Project Cost Management, Quality Management, Human Resource Management, and Integration Management. Based on the research findings, a new model was presented to develop effective construction waste strategies.

Keywords: awareness, PMBOK, site activity, training, waste management

Procedia PDF Downloads 357

Authors: Mallikarjuna Rao Yamarthy, Subramanyam Makam Venkata, Satya Prasad Kodati

Abstract:

The main objective of the proposed work is to reduce the overall network traffic incurred by mobility management, packet delivery cost and to increase the resource utilization. The proposed algorithm, An Efficient Resource Management Algorithm (ERMA) for mobility management in wireless mesh networks, relies on pointer based mobility management scheme. Whenever a mesh client moves from one mesh router to another, the pointer is set up dynamically between the previous mesh router and current mesh router based on the distance constraints. The algorithm evaluated for signaling cost, data delivery cost and total communication cost performance metrics. The proposed algorithm is demonstrated for both internet sessions and intranet sessions. The proposed algorithm yields significantly better performance in terms of signaling cost, data delivery cost, and total communication cost.

Keywords: data delivery cost, mobility management, pointer forwarding, resource management, wireless mesh networks

Procedia PDF Downloads 367

Authors: Aya Effat, Ossama A. Hosny, Elkhayam M. Dorra

Abstract:

Estimating costs is a crucial step in construction management and should be completed at the beginning of every project to establish the project's budget. The precision of the cost estimate plays a significant role in the success of construction projects as it allows project managers to effectively manage the project's costs. Site overhead costs constitute a significant portion of construction project budgets, necessitating accurate prediction and management. These costs are influenced by a multitude of factors, requiring a thorough examination and analysis to understand their relative importance and impact. Thus, the main aim of this research is to enhance the contractor’s ability to predict and manage site overheads by identifying and analyzing the main factors influencing the site overheads costs in the Egyptian construction industry. Through a comprehensive literature review, key factors were first identified and subsequently validated using a thorough comparative analysis of data from 55 real-life construction projects. Through this comparative analysis, the relationship between each factor and site overheads percentage as well as each site overheads subcategory and each project construction phase was identified and examined. Furthermore, correlation analysis was done to check for multicollinearity and identify factors with the highest impact. The findings of this research offer valuable insights into the key drivers of site overhead costs in the Egyptian construction industry. By understanding these factors, construction professionals can make informed decisions regarding the estimation and management of site overhead costs.

Keywords: comparative analysis, cost estimation, construction management, site overheads

Procedia PDF Downloads 18

Authors: Amir Rashid

Abstract:

Today is the world of innovations where everyone is looking for a change. Organizations are now looking toward virtualization in order to minimize their computing cost. Cloud Computing has also introduced itself by the means of reducing computing cost. It offers different approach to make computing better by improving utilization and reducing infrastructure and administrative costs. Cloud Computing is basically the amalgamation of Utility Computing and SaaS (Software as a Service). Cloud Computing is quite new to organizations as it is still at its deploying stage. Due to this reason, organizations are not confident whether to adopt it or not. This thesis investigates the problem for organization concerning the security and cost issues. Benefits and drawbacks are being highlighted which organizations can have or suffer in order to adopt Cloud Computing. In Conclusion, Cloud Computing is a better option available for small and medium organizations with a comparison to large companies both in terms of data security and cost.

Keywords: cloud computing, security, cost, elasticity, PaaS, IaaS, SaaS

Procedia PDF Downloads 341

Authors: Juliet Okoli

Abstract:

The removal of BTEX (Benzene, toluene, Ethylbenzene and p-Xylene) from water by orange peel and eggshell compared to GAC were investigated. The influence of various factors such as contact time, dosage and pH on BTEX removal by virgin orange peel and egg shell were accessed using the batch adsorption set-up. These were also compared to that of GAC which serves as a benchmark for this study. Further modification (preparation of Activated carbon) of these virgin low-cost adsorbents was also carried out. The batch adsorption result showed that the optimum contact time, dosage and pH for BTEX removal by virgin LCAs were 180 minutes, 0.5g and 7 and that of GAC was 30mintues, 0.2g and 7. The maximum adsorption capacity for total BTEX showed by orange peel and egg shell were 42mg/g and 59mg/g respectively while that of GAC was 864mg/g. The adsorbent preference for adsorbate were in order of X>E>T>B. A comparison of batch and column set-up showed that the batch set-up was more efficient than the column set-up. The isotherm data for the virgin LCA and GAC prove to fit the Freundlich isotherm better than the Langmuir model, which produced n values >1 in case of GAC and n< 1 in case of virgin LCAs; indicating a more appropriate adsorption of BTEX onto the GAC. The adsorption kinetics for the three studied adsorbents were described well by the pseudo-second order, suggesting chemisorption as the rate limiting step. This was further confirmed by desorption study, as low levels of BTEX (<10%) were recovered from the spent adsorbents especially for GAC (<3%). Further activation of the LCAs which was compared to the virgin LCAs, revealed that the virgin LCAs had minor higher adsorption capacity than the activated LCAs. Economic analysis revealed that the total cost required to clean-up 9,600m3 of BTEX contaminated water using LCA was just 2.8% lesser than GAC, a difference which could be considered negligible. However, this area still requires a more detailed cost-benefit analysis, and if similar conclusions are reached; a low-cost adsorbent, easy to obtain are still promising adsorbents for BTEX removal from aqueous solution; however, the GAC are still more superior to these materials.

Keywords: activated carbon, BTEX removal, low cost adsorbents, water treatment

Procedia PDF Downloads 269

Authors: Tharsinithevy Kirupananthan

Abstract:

This study analyzed the decision on growing three different crops which suit dry zone of Sri Lanka using the opportunity cost concept in economics. The variable cost of production of sugar cane, sweet orange, and soybean was 112,418.76, 13,463 and 10,928.08 Sri Lankan Rs. (LKR) per acre in the dry zone of Sri Lanka. The yield of the sugar cane, sweet orange, and soybean were 49.33 tons, 25,595 fruits, and 1032 kg per acre. The market price of the sugar cane, sweet orange, and soybean were 4200 LKR/ton, LKR 14.66 per fruit and LKR 89.69 per kg. The market value or the total income of the sugar cane, sweet orange, and soybean were LKR 207194.4, 283090.74, and 92560.08. The accounting profit of the sugar cane, sweet orange, and soybean was 94,775.64, 269,627.74, and 81,632 LKR per acre. Therefore, the opportunity cost of sugarcane per acre in terms of accounting profit was LKR. 269,627.74 from sweet orange and LKR 81,632 from soybean. The highest opportunity cost per acre in terms of accounting profit was found when soybean is produced instead of sweet orange. The opportunity cost which compared among the crops in terms of market value for sugar cane per acre was LKR 283090.74 of sweet orange and LKR 92560.08 of soybean. The highest opportunity cost both in terms of accounting profit and market value was found when growing soybean instead of sweet orange by using the resource per acre of land. The economic profit of sugar cane production in place of sweet orange was LKR -188315.1 per acre. The highest economic profit LKR 177067.66 was found when sweet orange is produced in place of soybean. A positive value of economic profit was found in all combination of sweet orange production without considering the first harvest duration of the crop.

Keywords: agricultural economics, crop, opportunity cost, Sri Lanka

Procedia PDF Downloads 345

Authors: Changgil Lee, Seunghee Park

Abstract:

Although vehicle driving test for the development of BWIM system is necessary, but it needs much cost and time in addition application of various driving condition. Thus, we need the numerical-simulation method resolving the cost and time problems of vehicle driving test and the way of measuring response of bridge according to the various driving condition. Using the precision analysis model reflecting the dynamic characteristic is contributed to increase accuracy in numerical simulation. In this paper, we conduct a numerical simulation to apply precision analysis model, which reflects the dynamic characteristic of bridge using Bridge Weigh-in-Motion technique and suggest overload vehicle enforcement technology using precision analysis model.

Keywords: bridge weigh-in-motion(BWIM) system, precision analysis model, dynamic characteristic of bridge, numerical simulation

Procedia PDF Downloads 292

Authors: Shreya Saxena

Abstract:

Background: Choledocholithiasis is a common complication of gallstone disease. Risk scoring systems exist to guide the need for further imaging or endoscopy in managing choledocholithiasis. We completed an audit to review the American Society for Gastrointestinal Endoscopy (ASGE) scoring system for prediction and management of choledocholithiasis against the current practice at a tertiary hospital to assess its utility in resource optimisation. We have now conducted a cost focused sub-analysis on patients categorized high-risk for choledocholithiasis according to the guidelines to determine any associated cost benefits. Method: Data collection from our prior audit was used to retrospectively identify thirteen patients considered high-risk for choledocholithiasis. Their ongoing management was mapped against the guidelines. Individual costs for the key investigations were obtained from our hospital financial data. Total cost for the different management pathways identified in clinical practice were calculated and compared against predicted costs associated with recommendations in the guidelines. We excluded the cost of laparoscopic cholecystectomy and considered a set figure for per day hospital admission related expenses. Results: Based on our previous audit data, we identified a77% positive predictive value for the ASGE risk stratification tool to determine patients at high-risk of choledocholithiasis. 47% (6/13) had an magnetic resonance cholangiopancreatography (MRCP) prior to endoscopic retrograde cholangiopancreatography (ERCP), whilst 53% (7/13) went straight for ERCP. The average length of stay in the hospital was 7 days, with an additional day and cost of £328.00 (£117 for ERCP) for patients awaiting an MRCP prior to ERCP. Per day hospital admission was valued at £838.69. When calculating total cost, we assumed all patients had admission bloods and ultrasound done as the gold standard. In doing an MRCP prior to ERCP, there was a 130% increase in cost incurred (£580.04 vs £252.04) per patient. When also considering hospital admission and the average length of stay, it was an additional £1166.69 per patient. We then calculated the exact costs incurred by the department, over a three-month period, for all patients, for key investigations or procedures done in the management of choledocholithiasis. This was compared to an estimate cost derived from the recommended pathways in the ASGE guidelines. Overall, 81% (£2048.45) saving was associated with following the guidelines compared to clinical practice. Conclusion: MRCP is the most expensive test associated with the diagnosis and management of choledocholithiasis. The ASGE guidelines recommend endoscopy without an MRCP in patients stratified as high-risk for choledocholithiasis. Our audit that focused on assessing the utility of the ASGE risk scoring system showed it to be relatively reliable for identifying high-risk patients. Our cost analysis has shown significant cost savings per patient and when considering the average length of stay associated with direct endoscopy rather than an additional MRCP. Part of this is also because of an increased average length of stay associated with waiting for an MRCP. The above data supports the ASGE guidelines for the management of high-risk for choledocholithiasis patients from a cost perspective. The only caveat is our small data set that may impact the validity of our average length of hospital stay figures and hence total cost calculations.

Keywords: cost-analysis, choledocholithiasis, risk stratification tool, general surgery

Procedia PDF Downloads 98

Authors: Adel A. Ghobbar

Abstract:

The airline industry is continuously challenging how to safely increase the service life of the aircraft with limited maintenance budgets. Operators are looking for the most qualified maintenance providers of aircraft components, offering the finest customer service. Component owner and maintenance provider is offering an Abacus agreement (Aircraft Component Leasing) to increase the efficiency and productivity of the customer service. To increase the customer service, the current focus on No Fault Found (NFF) units must change into the focus on Early Failure (EF) units. Since the effect of EF units has a significant impact on customer satisfaction, this needs to increase the reliability of EF units at minimal cost, which leads to the goal of this paper. By identifying the reliability of early failure (EF) units with regards to No Fault Found (NFF) units, in particular, the root cause analysis with an integrated cost analysis of EF units with the use of a failure mode analysis tool and a cost model, there will be a set of EF maintenance improvements. The data used for the investigation of the EF units will be obtained from the Pentagon system, an Enterprise Resource Planning (ERP) system used by Fokker Services. The Pentagon system monitors components, which needs to be repaired from Fokker aircraft owners, Abacus exchange pool, and commercial customers. The data will be selected on several criteria’s: time span, failure rate, and cost driver. When the selected data has been acquired, the failure mode and root cause analysis of EF units are initiated. The failure analysis approach tool was implemented, resulting in the proposed failure solution of EF. This will lead to specific EF maintenance improvements, which can be set-up to decrease the EF units and, as a result of this, increasing the reliability. The investigated EFs, between the time period over ten years, showed to have a significant reliability impact of 32% on the total of 23339 unscheduled failures. Since the EFs encloses almost one-third of the entire population.

Keywords: supportability, no fault found, FMEA, early failure, availability, operational reliability, predictive model

Procedia PDF Downloads 127

Authors: Ankit Chakraborty, Raj Shah, Prayas Variya

Abstract:

Self-compacting geo-polymer concrete is a blended version of self-compacting concrete developed in Japan by Okamura. H. in 1986 and geo-polymer concrete proposed by Davidovits in 1999. This method is eco-friendly as there is low CO₂ emission and reduces labor cost due to its self-compacting property and zero percent cement content. We are making an approach to reduce concreting cost and make concreting eco-friendly by replacing cement fully and sand by a certain amount of industrial waste. It will reduce overall concreting cost due to its self-compatibility and replacement of materials, forms eco-friendly concreting technique and gives better fresh property and hardened property results compared to self-compacting concrete and geo-polymer concrete.

Keywords: geopolymer concrete, low cost concreting, low carbon emission, self compactability

Procedia PDF Downloads 232

Authors: Tedros Asefaw Gebremeskel, Xaoyi Yang

Abstract:

The potential of solar energy in Eritrea is relatively high, based on this truth, there are a number of isolated and remote villages situated far away from the electrical national grid which don’t get access to electricity. The core objective of this work is to design a most favorable and cost-effective power by means of standalone PV system for the electrification of a single housing in the inaccessible area of Eritrea. The sizing of the recommended PV system is achieved, such as radiation data and electrical load for the typical household of the selected site is also well thought-out in the design steps. Finally, the life cycle cost (LCC) analysis is conducted to evaluate the economic viability of the system. The outcome of the study promote the use of PV system for a residential building and show that PV system is a reasonable option to provide electricity for household applications in the rural area of Eritrea.

Keywords: electrification, inaccessible area, life cycle cost, residential building, stand-alone PV system

Procedia PDF Downloads 143

Authors: Yasaman Ashrafi, Stephen Kajewski, Annastiina Silvennoinen, Madhav Nepal

Abstract:

Mega projects either in construction, urban development or energy sectors are one of the key drivers that build the foundation of wealth and modern civilizations in regions and nations. Such projects require economic justification and substantial capital investment, often derived from individual and corporate investors as well as governments. Cost overruns and time delays in these mega projects demands a new approach to more accurately predict project costs and establish realistic financial plans. The significance of this paper is that the cost efficiency of megaprojects will improve and decrease cost overruns. This research will assist Project Managers (PMs) to make timely and appropriate decisions about both cost and outcomes of ongoing projects. This research, therefore, examines the oil and gas industry where most mega projects apply the classic methods of Cost Performance Index (CPI) and Schedule Performance Index (SPI) and rely on project data to forecast cost and time. Because these projects are always overrun in cost and time even at the early phase of the project, the probabilistic methods of Monte Carlo Simulation (MCS) and Bayesian Adaptive Forecasting method were used to predict project cost at completion of projects. The current theoretical and mathematical models which forecast the total expected cost and project completion date, during the execution phase of an ongoing project will be evaluated. Earned Value Management (EVM) method is unable to predict cost at completion of a project accurately due to the lack of enough detailed project information especially in the early phase of the project. During the project execution phase, the Bayesian adaptive forecasting method incorporates predictions into the actual performance data from earned value management and revises pre-project cost estimates, making full use of the available information. The outcome of this research is to improve the accuracy of both cost prediction and final duration. This research will provide a warning method to identify when current project performance deviates from planned performance and crates an unacceptable gap between preliminary planning and actual performance. This warning method will support project managers to take corrective actions on time.

Keywords: cost forecasting, earned value management, project control, project management, risk analysis, simulation

Procedia PDF Downloads 403

Authors: Vasuki Rayapati, Bhanu Duggal

Abstract:

Trans catheter aortic valve replacement (TAVR) is the recommended treatment over surgical aortic valve replacement (SAVR) for high-risk groups, patients >75 years of age with severe symptomatic Aortic stenosis (AS). In high income countries TAVR is more cost effective because of – i) Reduction in total length of stay including less number of days in ICU ii) Non-procedural costs like cost of general anaesthesia are higher for SAVR. In India, there are two kinds of hospitals – Public and Private. Most patients visit public sector hospitals than private sector hospitals. In a LMIC like India, especially in the Public health sector cost of TAVR is prohibitive. In a small study from three (public) hospitals in India, it was envisaged that cost of TAVR should decrease at least by 2/3 to be a cost effective option in Public health sector for severe AS.

Keywords: cost effectiveness, TAVR vs SAVR, LMIC, HTA

Procedia PDF Downloads 107

Authors: G. Dottavio, M. F. Andrade, F. Renard, V. Cheutet, A.-L. Ladier, S. Vercraene, P. Hoang, S. Briet, R. Dachicourt, Y. Baizet

Abstract:

An important number of technological equipment and high-skilled workers over long periods of time have to be mobilized during nuclear decommissioning processes. The related operations generate complex flows of waste and high inventory levels, associated to information flows of heterogeneous types. Taking into account that more than 10 decommissioning operations are on-going in France and about 50 are expected toward 2025: A big challenge is addressed today. The management of decommissioning and dismantling of nuclear installations represents an important part of the nuclear-based energy lifecycle, since it has an environmental impact as well as an important influence on the electricity cost and therefore the price for end-users. Bringing new technologies and new solutions into decommissioning methodologies is thus mandatory to improve the quality, cost and delay efficiency of these operations. The purpose of our project is to improve decommissioning management efficiency by developing a decision-support framework dedicated to plan nuclear facility decommissioning operations and to optimize waste evacuation by means of a logistic approach. The target is to create an easy-to-handle tool capable of i) predicting waste flows and proposing the best decommissioning logistics scenario and ii) managing information during all the steps of the process and following the progress: planning, resources, delays, authorizations, saturation zones, waste volume, etc. In this article we present our results from waste nuclear flows simulation during decommissioning process, including discrete-event simulation supported by FLEXSIM 3-D software. This approach was successfully tested and our works confirms its ability to improve this type of industrial process by identifying the critical points of the chain and optimizing it by identifying improvement actions. This type of simulation, executed before the start of the process operations on the basis of a first conception, allow ‘what-if’ process evaluation and help to ensure quality of the process in an uncertain context. The simulation of nuclear waste flows before evacuation from the site will help reducing the cost and duration of the decommissioning process by optimizing the planning and the use of resources, transitional storage and expensive radioactive waste containers. Additional benefits are expected for the governance system of the waste evacuation since it will enable a shared responsibility of the waste flows.

Keywords: nuclear decommissioning, logistical optimization, decision-support framework, waste management

Procedia PDF Downloads 323

Authors: Yehya Abdellatif, Iyad M. Muslih, Azzah Alkhalailah, Abdallah Muslih

Abstract:

Hybrid Optimization Model for Electric Renewable (HOMER) software was utilized to find the optimum design of a hybrid off-Grid system, by choosing the optimal solution depending on the cost analysis of energy based on different capacity shortage percentages. A complete study for the site conditions and load profile was done to optimize the design and implementation of a hybrid off-grid power station. In addition, the solution takes into consecration the ambient temperature effect on the efficiency of the power generation and the economical aspects of selection depending on real market price. From the analysis of the HOMER model results, the optimum hybrid power station was suggested, based on wind speed, and solar conditions. The optimization function objective is to minimize the Net Price Cost (NPC) and the Cost of Energy (COE) with zero and 10 percentage of capacity shortage.

Keywords: energy modeling, HOMER, off-grid system, optimization

Procedia PDF Downloads 563

Authors: Agarana Michael C., Akinlabi Esther T., Pule Kholopane

Abstract:

In order to sustain the advantages of an advanced manufacturing technique, such as laser sintering, minimization of total processing cost of the parts being produced is very important. An efficient time management would usually very important in optimal cost attainment which would ultimately result in an efficient advanced manufacturing process planning and control. During Laser Scanning Process Scanning (SLS) procedures it is possible to adjust various manufacturing parameters which are used to influence the improvement of various mechanical and other properties of the products. In this study, Modelling and mathematical analysis, including sensitivity analysis, of the laser sintering process time were carried out. The results of the analyses were represented with graphs, from where conclusions were drawn. It was specifically observed that achievement of optimal total scanning time is key for economic efficiency which is required for sustainability of the process.

Keywords: modeling and analysis, optimal planning and control, laser sintering process, scanning time

Procedia PDF Downloads 98

Authors: Ayoade Adeyemi, Leo Nherera, Paul Trueman, Antje Emmermann

Abstract:

Background and objectives: Radiofrequency (RF) generated plasma chondroplasty is considered a promising treatment alternative to mechanical debridement (MD) with a shaver. The aim of the study was to perform a cost-effectiveness analysis comparing costs and outcomes following COBLATION chondroplasty versus mechanical debridement in patients with knee pain associated with a medial meniscus tear and idiopathic ICRS grade III focal lesion of the medial femoral condyle from a payer perspective. Methods: A decision-analytic model was developed comparing economic and clinical outcomes between the two treatment options in German patients following knee chondroplasty. Revision rates based on the frequency of repeat arthroscopy, osteotomy and conversion to total knee replacement, reimbursement costs and outcomes data over a 4-year time horizon were extracted from published literature. One-way sensitivity analyses were conducted to assess uncertainties around model parameters. Threshold analysis determined the revision rate at which model results change. All costs were reported in 2016 euros, future costs were discounted at a 3% annual rate. Results: Over a 4 year period, COBLATION chondroplasty resulted in an overall net saving cost of €461 due to a lower revision rate of 14% compared to 48% with MD. Threshold analysis showed that both options were associated with comparable costs if COBLATION revision rate was assumed to increase up to 23%. The initial procedure costs for COBLATION were higher compared to MD and outcome scores were significantly improved at 1 and 4 years post-operation versus MD. Conclusion: The analysis shows that COBLATION chondroplasty is a cost-effective option compared to mechanical debridement in the treatment of patients with a medial meniscus tear and idiopathic ICRS grade III defect of the medial femoral condyle.

Keywords: COBLATION, cost-effectiveness, knee chondroplasty, mechanical debridement

Procedia PDF Downloads 394

Authors: Zhenyu Du, Ed Collings, James Meredith

Abstract:

The high cost of composite materials versus conventional materials remains a major barrier to uptake in the transport sector. This is exacerbated by a shortage of skilled labour which makes the labour content of a hand laid composite component (~40 % of total cost) an obvious target for reduction. Automation is a method to remove labour cost and improve quality. This work focuses on the challenges and benefits to automating the manufacturing process from raw fibre to trimmed component. It will detail the experimental work required to complete an automation cell, the control strategy used to integrate all machines and the final benefits in terms of throughput and cost.

Keywords: automation, low cost technologies, processing and manufacturing technologies, resin transfer moulding

Procedia PDF Downloads 292

Authors: Hamide Özyürek, Metin Yılmaz

Abstract:

Standard processes, similar and limited production lines, the production of high direct costs will be more accurate than the use of parts of the traditional cost systems in the literature. However, direct costs, overhead expenses, in turn, decreases the burden of increasingly sophisticated production facilities, a situation that led the researchers to look for the cost of traditional systems of alternative techniques. Variety cost management approaches for example Total quality management (TQM), just-in-time (JIT), benchmarking, kaizen costing, targeting cost, life cycle costs (LLC), activity-based costing (ABC) value engineering have been introduced. Management and cost applications have changed over the past decade and will continue to change. Modern cost systems can provide relevant and accurate cost information. These methods provide the decisions about customer, product and process improvement. The aim of study is to describe and explain the adoption and application of costing systems in SME. This purpose reports on a survey conducted during 2014 small and medium sized enterprises (SME) in Ankara. The survey results were evaluated using SPSS package program.

Keywords: modern costing systems, managerial accounting, cost accounting, costing

Procedia PDF Downloads 566