Search results for: cost minimization

Authors: Picha Sriprachan

Abstract:

The increase in electricity prices affects the cost of high-rise building construction. The objectives of this research are to study the electrical cost, trend of electrical cost and to forecast electrical cost of high-rise building construction. The methods of this research are: 1) to study electrical payment formats, cost data collection methods, and the factors affecting electrical cost of high-rise building construction, 2) to study the quantity and trend of cumulative percentage of the electrical cost, and 3) to forecast the electrical cost for different types of high-rise buildings. The results of this research show that the average proportion between electrical cost and the value of the construction project is 0.87 percent. The proportion of electrical cost for residential, office and commercial, and hotel buildings are closely proportional. If construction project value increases, the proportion of electrical cost and the value of the construction project will decrease. However, there is a relationship between the amount of electrical cost and the value of the construction project. During the structural construction phase, the amount of electrical cost will increase and during structural and architectural construction phase, electrical cost will be maximum. The cumulative percentage of the electrical cost is related to the cumulative percentage of the high-rise building construction cost in the same direction. The amount of service space of the building, number of floors and the duration of the construction affect the electrical cost of construction. The electrical cost of construction forecasted by using linear regression equation is close to the electrical cost forecasted by using the proportion of electrical cost and value of the project.

Keywords: high-rise building construction, electrical cost, construction phase, architectural phase

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Authors: Ibrahim Mahamid, A. Al-Ghonamy, M. Aichouni

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This study is conducted to identify causes of cost deviations in public construction projects in Saudi Arabia from contractors’ perspective. 41 factors that might affect cost estimating accuracy were identified through literature review and discussion with some construction experts. The factors were tabulated in a questionnaire form and a field survey included 51 contractors from the Northern Province of Saudi Arabia was performed. The results show that the top five important causes are: wrong estimation method, long period between design and time of implementation, cost of labor, cost of machinary and absence of construction-cost data.

Keywords: cost deviation, public construction, cost estimating, Saudi Arabia, contractors

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Authors: Sunantha Teyarachakul

Abstract:

We consider the worker-learning Newsvendor Model, under the case of lost-sales for unmet demand, with the research objective of proposing the cost-minimization order policy and lot size, scheduled to arrive at the beginning of the selling-period. In general, the New Vendor Model is used to find the optimal order quantity for the perishable items such as fashionable products or those with seasonal demand or short-life cycles. Technically, it is used when the product demand is stochastic and available for the single selling-season, and when there is only a one time opportunity for the vendor to purchase, with possibly of long ordering lead-times. Our work differs from the classical Newsvendor Model in that we incorporate the human factor (specifically worker learning) and its influence over the costs of processing units into the model. We describe this by using the well-known Wright’s Learning Curve. Most of the assumptions of the classical New Vendor Model are still maintained in our work, such as the constant per-unit cost of leftover and shortage, the zero initial inventory, as well as the continuous time. Our problem is challenging in the way that the best order quantity in the classical model, which is balancing the over-stocking and under-stocking costs, is no longer optimal. Specifically, when adding the cost-saving from worker learning to such expected total cost, the convexity of the cost function will likely not be maintained. This has called for a new way in determining the optimal order policy. In response to such challenges, we found a number of characteristics related to the expected cost function and its derivatives, which we then used in formulating the optimal ordering policy. Examples of such characteristics are; the optimal order quantity exists and is unique if the demand follows a Uniform Distribution; if the demand follows the Beta Distribution with some specific properties of its parameters, the second derivative of the expected cost function has at most two roots; and there exists the specific level of lot size that satisfies the first order condition. Our research results could be helpful for analysis of supply chain coordination and of the periodic review system for similar problems.

Keywords: inventory management, Newsvendor model, order policy, worker learning

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Authors: Ahmad Rouhani, Masood Jabbari, Sima Honarmand

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This paper introduces a method to optimal design of a hybrid Wind/Photovoltaic/Fuel cell generation system for a typical domestic load that is not located near the electricity grid. In this configuration the combination of a battery, an electrolyser, and a hydrogen storage tank are used as the energy storage system. The aim of this design is minimization of overall cost of generation scheme over 20 years of operation. The Matlab/Simulink is applied for choosing the appropriate structure and the optimization of system sizing. A teaching learning based optimization is used to optimize the cost function. An overall power management strategy is designed for the proposed system to manage power flows among the different energy sources and the storage unit in the system. The results have been analyzed in terms of technics and economics. The simulation results indicate that the proposed hybrid system would be a feasible solution for stand-alone applications at remote locations.

Keywords: hybrid energy system, optimum sizing, power management, TLBO

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Authors: Vijay Sodhi, Charanjit Singh, Neelam Sodhi, Puneet P. S. Cheema, Reena Sharma, Mithilesh K. Jha

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The management and secure disposal of the biosludge generated from widely commercialized conventional activated sludge (CAS) treatments become a potential environmental issue. Thus, a sustainable technological upgradation to the CAS for sludge yield minimization has recently been gained serious attention of the scientific community. A number of recently reported studies effectively addressed the remedial technological advancements that in monopoly limited to the municipal wastewater. Moreover, the critical review of the literature signifies side-stream sludge minimization as a complex task to maintain. In this work, therefore, a hybrid moving bed biofilm reactor (MBBR) configuration (named as AMOMOX process) for in-situ minimization of the excess biosludge generated from high organic strength tannery wastewater has been demonstrated. The AMOMOX collectively stands for anoxic MBBR (as AM), aerobic MBBR (OM) and an oxic CAS (OX). The AMOMOX configuration involved a combined arrangement of an anoxic MBBR and oxic MBBR coupled with the aerobic CAS. The AMOMOX system was run in parallel with an identical CAS reactor. Both system configurations were fed with same influent to judge the real-time operational changes. For the AMOMOX process, the strict maintenance of operational strategies resulted about 95% removal of NH4-N and SCOD from tannery wastewater. Here, the nourishment of filamentous microbiota and purposeful promotion of cell-lysis effectively sustained sludge yield (Yobs) lowering upto 0.51 kgVSS/kgCOD. As a result, the volatile sludge scarcity apparent in the AMOMOX system succeeded upto 47% reduction of the excess biosludge. The corroborated was further supported by FE-SEM imaging and thermogravimetric analysis. However, the detection of microbial strains habitat underlying extended SRT (23-26 days) of the AMOMOX system would be the matter of further research.

Keywords: tannery wastewater, moving bed biofilm reactor, sludhe yield, sludge minimization, solids retention time

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Authors: N. Gayathri Devi, K. Batri

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The advent of technology has increased the traffic hazards and the road accidents take place. Collision detection system in automobile aims at reducing or mitigating the severity of an accident. This project aims at avoiding Vehicle head on collision by means of collision detection algorithm. This collision detection algorithm predicts the collision and the avoidance or minimization have to be done within few seconds on confirmation. Under critical situation collision minimization is made possible by turning the vehicle to the desired turn radius so that collision impact can be reduced. In order to avoid the collision completely, the turning of the vehicle should be achieved at reduced speed in order to maintain the stability.

Keywords: collision avoidance system, time to collision, time to turn, turn radius

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Authors: Yoftahe Nigussie Worku

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This research focuses on advancing fire tube boiler technology by systematically optimizing design parameters to achieve efficient saturated steam production. The main objective is to design a high-performance boiler with a production capacity of 2000kg/h at a 12-bar design pressure while minimizing costs. The methodology employs iterative analysis, utilizing relevant formulas, and considers material selection and production methods. The study successfully results in a boiler operating at 85.25% efficiency, with a fuel consumption rate of 140.37kg/hr and a heat output of 1610kW. Theoretical importance lies in balancing efficiency, safety considerations, and cost minimization. The research addresses key questions on parameter optimization, material choices, and safety-efficiency balance, contributing valuable insights to fire tube boiler design.

Keywords: safety consideration, efficiency, production methods, material selection

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Authors: O. J. Olaniran, P. E. D. Love, D. J. Edwards, O. Olatunji, J. Matthews

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Cost overruns are a persistent problem in oil and gas megaprojects. Whilst the extant literature is filled with studies on incidents and causes of cost overruns, underlying theories to explain their emergence in oil and gas megaprojects are few. Yet, a way to contain the syndrome of cost overruns is to understand the bases of ‘how and why’ they occur. Such knowledge will also help to develop pragmatic techniques for better overall management of oil and gas megaprojects. The aim of this paper is to explain the development of cost overruns in hydrocarbon megaprojects through the perspective of chaos theory. The underlying principles of chaos theory and its implications for cost overruns are examined and practical recommendations proposed. In addition, directions for future research in this fertile area provided.

Keywords: chaos theory, oil and gas, cost overruns, megaprojects

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Authors: Nazirah Zainul Abidin, Nurul Zahirah Mokhtar Azizi

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Cost has always been the leading concern in green building development. The perception that construction cost for green building is higher than conventional buildings has only made the discussion of green building cost more difficult. Understanding the factors that will influence the cost of green construction is expected to shed light into what makes green construction more or at par with conventional projects, or perhaps, where cost can be optimised. This paper identifies the elements of cost before shifting the attention to the influencing factors. Findings from past studies uncovered various factors related to cost which are grouped into five focal themes i.e. awareness, knowledge, financial, technical, and government support. A conceptual framework is produced in a form of a flower diagram indicating the cost influencing factors of green building development. These factors were found to be both physical and non-physical aspects of a project. The framework provides ground for the next stage of research that is to further explore how these factors influence the project cost and decision making.

Keywords: green project, factors influencing cost, hard cost, soft cost

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Authors: Boukelkoul Lahcen

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The cumulative costs for O&M may represent as much as 65%-90% of the turbine's investment cost. Nowadays the cost effectiveness concept becomes a decision-making and technology evaluation metric. The cost of energy metric accounts for the effect replacement cost and unscheduled maintenance cost parameters. One key of the proposed approach is the idea of maintaining the WTs which can be captured via use of a finite state Markov chain. Such a model can be embedded within a probabilistic operation and maintenance simulation reflecting the action to be done. In this paper, an approach of estimating the cost of O&M is presented. The finite state Markov model is used for decision problems with number of determined periods (life cycle) to predict the cost according to various options of maintenance.

Keywords: cost, finite state, Markov model, operation and maintenance

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Authors: S. M. Javad Davoodi, Mojtaba Shourian

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Groundwater table close to the ground surface causes major problems in construction and mining operation. One of the methods to control groundwater in such cases is using pumping wells. These pumping wells remove excess water from the site project and lower the water table to a desirable value. Although the efficiency of this method is acceptable, it needs high expenses to apply. It means even small improvement in a design of pumping wells can lead to substantial cost savings. In order to minimize the total cost in the method of pumping wells, a simulation-optimization approach is applied. The proposed model integrates MODFLOW as the simulation model with Firefly as the optimization algorithm. In fact, MODFLOW computes the drawdown due to pumping in an aquifer and the Firefly algorithm defines the optimum value of design parameters which are numbers, pumping rates and layout of the designing wells. The developed Firefly-MODFLOW model is applied to minimize the cost of the dewatering project for the ancient mosque of Kerman city in Iran. Repetitive runs of the Firefly-MODFLOW model indicates that drilling two wells with the total rate of pumping 5503 m3/day is the result of the minimization problem. Results show that implementing the proposed solution leads to at least 1.5 m drawdown in the aquifer beneath mosque region. Also, the subsidence due to groundwater depletion is less than 80 mm. Sensitivity analyses indicate that desirable groundwater depletion has an enormous impact on total cost of the project. Besides, in a hypothetical aquifer decreasing the hydraulic conductivity contributes to decrease in total water extraction for dewatering.

Keywords: groundwater dewatering, pumping wells, simulation-optimization, MODFLOW, firefly algorithm

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Authors: Ouafa Amira, Jiangshe Zhang

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Clustering is an unsupervised machine learning technique; its aim is to extract the data structures, in which similar data objects are grouped in the same cluster, whereas dissimilar objects are grouped in different clusters. Clustering methods are widely utilized in different fields, such as: image processing, computer vision , and pattern recognition, etc. Fuzzy c-means clustering (fcm) is one of the most well known fuzzy clustering methods. It is based on solving an optimization problem, in which a minimization of a given cost function has been studied. This minimization aims to decrease the dissimilarity inside clusters, where the dissimilarity here is measured by the distances between data objects and cluster centers. The degree of belonging of a data point in a cluster is measured by a membership function which is included in the interval [0, 1]. In fcm clustering, the membership degree is constrained with the condition that the sum of a data object’s memberships in all clusters must be equal to one. This constraint can cause several problems, specially when our data objects are included in a noisy space. Regularization approach took a part in fuzzy c-means clustering technique. This process introduces an additional information in order to solve an ill-posed optimization problem. In this study, we focus on regularization by relative entropy approach, where in our optimization problem we aim to minimize the dissimilarity inside clusters. Finding an appropriate membership degree to each data object is our objective, because an appropriate membership degree leads to an accurate clustering result. Our clustering results in synthetic data sets, gaussian based data sets, and real world data sets show that our proposed model achieves a good accuracy.

Keywords: clustering, fuzzy c-means, regularization, relative entropy

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Authors: Min-Tsai Lai, Taqwa Hariguna

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This paper presents a periodical replacement model for a system, considering the concept of single and cumulative repair cost limits simultaneously. The failures are divided into two types. Minor failure can be corrected by minimal repair and serious failure makes the system breakdown completely. When a minor failure occurs, if the repair cost is less than a single repair cost limit L1 and the accumulated repair cost is less than a cumulative repair cost limit L2, then minimal repair is executed, otherwise, the system is preventively replaced. The system is also replaced at time T or at serious failure. The optimal period T minimizing the long-run expected cost per unit time is verified to be finite and unique under some specific conditions.

Keywords: repair-cost limit, cumulative repair-cost limit, minimal repair, periodical replacement policy

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Authors: S. Ahmed, P. Dlask, B. Hasan

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There are several ways to estimate the cost of the construction project: simple and detailed. The process of estimating cost is usually done during the design stage, which should take long-time and the designer must give attention to all details. This paper explain the causes of the deviations occurring in the cost of the construction project, and determines the reasons of these differences between contractual cost and final cost of the construction project, through the study of literature review related to this field, and benefiting from the experience of workers in the field of building (owners, contractors) through designing a questionnaire, and finding the most ten important reasons and explain the relation between the contractual cost and the final cost according to these reasons. The difference between those values will be showed through diagrams drawn using the statistical program. In addition to studying the effects of overrun costs on the advancing of the project, and identify the most five important effects. According to the results, we can propose the right direction for the final cost evaluation and propose some measures that would help to control and adjust the deviation in the costs.

Keywords: construction projects, building, cost, estimating costs, delay, overrun

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Authors: H. Z. Ulukan, E. Demircioğlu, M. Erol Genevois

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The scope of this paper and the aim of proposed model were to apply monetary Input –Output (I-O) analysis to point out the importance of reusing know-how and other requirements in order to reduce the production costs in a manufacturing process for a laptop computer. I-O approach using the monetary input-output model is employed to demonstrate the impacts of different factors in a manufacturing process. A sensitivity analysis showing the correlation between these different factors is also presented. It is expected that the recommended model would have an advantageous effect in the cost minimization process.

Keywords: input-output analysis, monetary input-output model, manufacturing process, laptop computer

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Authors: Hassan Abdelgadir

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Cost overruns have harmed the economies and reputations of several construction companies around the world. Many project management systems have been developed to keep track of a project's budget. However, due to several cost overrun difficulties in the construction industry, cost management is still deemed inadequate. As a result, the goal of this term paper is to identify and group prospective construction project cost overrun reasons based on their origin groups.Basically, all potential cost overrun elements were rigorously checked through 1iterature analysis before being divided into seven (7) groups of originating components, including project, contract, client, contractor, consultant, labor, and external. Each potential factor was completely defined with examples.

Keywords: construction projects, cost overruns, construction company, factors effect costoverruns

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Authors: César Garza

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In supervised binary classification and regression problems, it is well-known that learnability is equivalent to a uniform convergence of the hypothesis class, and if a problem is learnable, it is learnable by empirical risk minimization. For the general learning setting of unsupervised learning tasks, there are non-trivial learning problems where uniform convergence does not hold. We present here the task of learning centers of mass with an extra feature that “activates” some of the coordinates over the unit ball in a Hilbert space. We show that the learning problem is learnable under a stable RLM rule. We introduce a family of distributions over the domain space with some mild restrictions for which the sample complexity of uniform convergence for these problems must grow logarithmically with the dimension of the Hilbert space. If we take this dimension to infinity, we obtain a learnable problem for which the uniform convergence property fails for a vast family of distributions.

Keywords: statistical learning theory, learnability, uniform convergence, stability, regularized loss minimization

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Authors: Meesun Sun, Yongmin Kim

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Estimating maintenance cost is crucial in defense management because it affects military budgets and availability of equipment. When it comes to estimating maintenance cost of the deployed equipment, time series forecasting can be applied with the actual historical cost data. It is more difficult issue to estimate maintenance cost of new equipment for which the actual costs are not provided. In this underlying context, this study proposes an analytical method for maintenance cost estimating relationships (CERs) development of helicopters using linear programming. The CERs can be applied to a new helicopter because they use non-cost independent variables such as the number of engines, the empty weight and so on. In the Republic of Korea, the maintenance cost of new equipment has been usually estimated by reflecting maintenance cost to unit price ratio of the legacy equipment. This study confirms that the CERs perform well for the 10 types of airmobile helicopters in terms of mean absolute percentage error by applying leave-one-out cross-validation. The suggested method is very useful to estimate the maintenance cost of new equipment and can help in the affordability assessment of acquisition program portfolios for total life cycle systems management.

Keywords: affordability analysis, cost estimating relationship, helicopter, linear programming, maintenance cost

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Authors: Tushar Bhardwaj

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Internet of Things (IoT) possesses a dynamic network where the network nodes (mobile devices) are added and removed constantly and randomly, hence the traffic distribution in the network is quite variable and irregular. The basic but very important part in any network is route searching. We have many conventional route searching algorithms like link-state, and distance vector algorithms but they are restricted to the static point to point network topology. In this paper we propose a model that uses the Ant Colony Algorithm for route searching. It is dynamic in nature and has positive feedback mechanism that conforms to the route searching. We have also embedded the concept of Non-Deterministic Finite Automata [NDFA] minimization to reduce the network to increase the performance. Results show that Ant Colony Algorithm gives the shortest path from the source to destination node and NDFA minimization reduces the broadcasting storm effectively.

Keywords: routing, ant colony algorithm, NDFA, IoT

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Authors: M. Hossain, A. H. Khan, M. A. R. Sarkar

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Primary containment structure is one of the five safety layers of a nuclear facility which is needed to be designed in such a manner that it can withstand the pressure and excessive radioactivity during accidental situations. It is also necessary to ensure minimization of cost with maximum possible safety in order to make the design economically feasible and attractive. This paper attempts to identify the optimum design conditions for primary containment structure considering both mechanical and radiation safety keeping the economic aspects in mind. This work takes advantage of commercial simulation software to identify the suitable conditions without the requirement of costly experiments. Generated data may be helpful for further studies.

Keywords: PWR, concrete containment, finite element approach, neutron attenuation, Von Mises stress

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Authors: Rachid Taleb, M’hamed Helaimi, Djilali Benyoucef, Ahmed Derrouazin

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Multilevel inverters are well used in high power electronic applications because of their ability to generate a very good quality of waveforms, reducing switching frequency, and their low voltage stress across the power devices. This paper presents the Optimal Minimization of the Total Harmonic Distortion (OMTHD) strategy of a uniform step asymmetrical seven-level inverter (USA7LI). The OMTHD approach is compared to the well-known sinusoidal pulse-width modulation (SPWM) strategy. Simulation results demonstrate the better performances and technical advantages of the OMTHD controller in feeding a High Power Induction Motor (HPIM).

Keywords: uniform step asymmetrical seven-level inverter (USA7LI), optimal minimization of the THD (OMTHD), sinusoidal PWM (SPWM), high power induction motor (HPIM)

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Authors: Ilqar Ramazanli

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The matrix completion problem has been studied broadly under many underlying conditions. The problem has been explored under adaptive or non-adaptive, exact or estimation, single-phase or multi-phase, and many other categories. In most of these cases, the observation cost of each entry is uniform and has the same cost across the columns. However, in many real-life scenarios, we could expect elements from distinct columns or distinct positions to have a different cost. In this paper, we explore this generalization under adaptive conditions. We approach the problem under two different cost models. The first one is that entries from different columns have different observation costs, but within the same column, each entry has a uniform cost. The second one is any two entry has different observation cost, despite being the same or different columns. We provide complexity analysis of our algorithms and provide tightness guarantees.

Keywords: matroid optimization, matrix completion, linear algebra, algorithms

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Authors: Suhartono Suhartono

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Issue of cost efficiency is then becoming pivotal point because public expect cost of banking operation reducing and benefited of consumers. This study examines the determinants of cost efficiency of banks operating in 8 member countries of the Association of Southeast Asian Nations (ASEAN). This study uses economics theory approach to examine the existence of economies of scale in the ASEAN Banking market especially on its impact on cost efficiency. We apply concept of average cost (AC) as a proxy for the cost efficiency. We find that economies of scale is existing in the banking market indicating scale and scope economies should be considered in the industrial policy. The stronger capital position is also positive to efficiency means stronger capitalized banks are more efficient. Bank that remunerates better tend to be more efficient as result economic capital effect.

Keywords: cost efficiency, ASEAN, economies of scale, issue of cost

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Authors: Jihene Jlassi, Ahmed Frikha, Wazna Kortli

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The objectives of Nurse-Patient Assignment are the minimization of the overall hospital cost and the maximization of nurses ‘preferences. This paper aims to assess nurses' satisfaction related to the implementation of patient acuity tool-based assignments. So, we used an integer linear program that assigns patients to nurses while balancing nurse workloads. Then, the proposed model is applied to the Paediatrics Department at Kasserine Hospital Tunisia. Where patients need special acuities and high-level nursing skills and care. Hence, numerical results suggested that proposed nurse-patient assignment models can achieve a balanced assignment

Keywords: nurse-patient assignment, mathematical model, logistics, pediatrics department, balanced assignment

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Authors: Galal H. Senussi, Muamar Benisa, Sanja Vasin

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In our business field today, one of the most important issues for any enterprises is cost minimization and profit maximization. Second issue is how to develop a strong and capable model that is able to give us desired forecasting of these two issues. Many researches deal with these issues using different methods. In this study, we developed a model for multi-criteria production program optimization, integrated with Artificial Neural Network. The prediction of the production cost and profit per unit of a product, dealing with two obverse functions at same time can be extremely difficult, especially if there is a great amount of conflict information about production parameters. Feed-Forward Neural Networks are suitable for generalization, which means that the network will generate a proper output as a result to input it has never seen. Therefore, with small set of examples the network will adjust its weight coefficients so the input will generate a proper output. This essential characteristic is of the most important abilities enabling this network to be used in variety of problems spreading from engineering to finance etc. From our results as we will see later, Feed-Forward Neural Networks has a strong ability and capability to map inputs into desired outputs.

Keywords: project profitability, multi-objective optimization, genetic algorithm, Pareto set, neural networks

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Authors: Yanping Liao, Congcong He, Ruigang Zhao

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The application of magnetocardiography signals to detect cardiac electrical function is a new technology developed in recent years. The magnetocardiography signal is detected with Superconducting Quantum Interference Devices (SQUID) and has considerable advantages over electrocardiography (ECG). It is difficult to extract Magnetocardiography (MCG) signal which is buried in the noise, which is a critical issue to be resolved in cardiac monitoring system and MCG applications. In order to remove the severe background noise, the Total Variation (TV) regularization method is proposed to denoise MCG signal. The approach transforms the denoising problem into a minimization optimization problem and the Majorization-minimization algorithm is applied to iteratively solve the minimization problem. However, traditional TV regularization method tends to cause step effect and lacks constraint adaptability. In this paper, an improved TV regularization method for denoising MCG signal is proposed to improve the denoising precision. The improvement of this method is mainly divided into three parts. First, high-order TV is applied to reduce the step effect, and the corresponding second derivative matrix is used to substitute the first order. Then, the positions of the non-zero elements in the second order derivative matrix are determined based on the peak positions that are detected by the detection window. Finally, adaptive constraint parameters are defined to eliminate noises and preserve signal peak characteristics. Theoretical analysis and experimental results show that this algorithm can effectively improve the output signal-to-noise ratio and has superior performance.

Keywords: constraint parameters, derivative matrix, magnetocardiography, regular term, total variation

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Authors: Asamaporn Puetpaiboon, Sunisa Chatmongkolchart, Nalinee Kovitwanawong, Osaree Akaraborworn

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Traumatic patients with massive bleeding require intensive resuscitation. The actual cost of anesthesia per case has never been clarified, so our study aimed to quantify the direct cost, and cost-to-charge ratio of anesthetic care in traumatic patients with intraoperative massive bleeding. This study was a prospective, observational, cost analysis study, conducted in Prince of Songkla University hospital, Thailand, with traumatic patients, of any mechanisms being recruited. Massive bleeding was defined as estimated blood loss of at least one blood volume in 24 hours, or a half of blood volume in 3 hours. The cost components were identified by the micro-costing method, and valued by the bottom-up approach. The direct cost was divided into 4 categories: the labor cost, the capital cost, the material cost and the cost of drugs. From September 2017 to August 2018, 10 patients with multiple injuries were included. Seven patients had motorcycle accidents, two patients fell from a height and another one was in a minibus accident. Two patients died on the operating table, and another two died within 48 hours. The median Sequential Organ Failure Assessment (SOFA) score was 8. The median intraoperative blood loss was 3,500 ml. The median direct cost, per case, was 250 United States Dollars (2017 exchange rate), and the cost-to-charge ratio was 0.53. In summary, the direct cost was nearly half of the hospital charge, for these traumatic patients with massive bleeding. However, our study did not analyze the indirect cost.

Keywords: cost, cost-to-charge ratio, micro-costing, trauma

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Authors: Gou-Moon Choi, Woo-Young Jung, Chan-Young Yune

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Recently, the natural disaster has increased worldwide. In Korea, the damage to life and property caused by a typhoon, heavy rain, heavy snow, and an extreme wind also increases every year. Among natural disasters, the frequency and the strength of wind have increased because sea surface temperature has risen due to the increase of the average temperature of the Earth. In the case of extreme wind disaster, it is impossible to control or reduce the occurrence, and the recovery cost always exceeds the damage cost. Therefore, quantitative estimation of the damage cost for extreme wind needs to be established beforehand to install proactive countermeasures. In this study, the damage cost for private properties was analyzed based on the data for the past 10 years in Korea. The damage cost curve was also suggested for the metropolitan cities and provinces. The result shows the possibility for the regional application of the damage cost curve because the damage cost of the regional area is estimated based on the cost of cities and provinces.

Keywords: damage cost, extreme wind, natural disaster, private property

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Authors: Farizy Yunaz, Catur Sasongko

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This research aims to provide the empirical evidence regarding cost stickiness behavior and its determinants on listed manufacturing companies. Hypothesis testing is performed using pooled least square method. The result concludes that there is cost stickiness behavior in selling, general and administrative costs. In term of determinants, firm-specific adjustment costs measured by asset intensity and employee intensity have significant positive impact on the level of cost stickiness. Meanwhile, earnings target and leverage have significant negative impact on the level of cost stickiness. However, the management empire building incentives measured by free cash flow has no significant positive impact.

Keywords: adjustment cost, cost behavior, cost stickiness, earnings target, leverage, management empire building incentive

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Authors: Mansour Fakhri, Monire Zokaei

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Where there are many demolitions on conventional asphalt pavements, heavy costs are paid to repair and reconstruct the pavement roads annually. Recently some research has been done in order to increase the pavement life. Perpetual pavement is regarded as one of them which can improve the pavement life and minimize the maintenance activity and cost. In this research, ABAQUS which is a finite element software is implemented for analyzing and simulation of perpetual pavement. Viscoelastic model of material is used and loading wheel is considered to be dynamic. Effect of different parameters on pavement function has been considered. Because of high primary cost these pavements are not widely used. In this regard, life cost analysis was also carried out to compare perpetual pavement to conventional asphalt concrete pavement. It was concluded that although the initial cost of perpetual pavement is higher than that of conventional asphalt pavement, life cycle cost analysis during 50 years of service life showed that the performance of this pavement is better and the whole life cost of that is less.

Keywords: ABAQUS, lifecycle cost analysis, mechanistic empirical, perpetual pavement

Procedia PDF Downloads 356