Search results for: low cost instrumentation

Authors: Noppadol Sritragool

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The objectives of this research were to investigate the decision of passengers who choose to fry with low cost airlines and to study marketing factors which have the influence to the decision to choose each low cost airlines. This paper was a quantitative research technique. A total of 400 low cost airlines’ passengers were interviewed via English questionnaire to collect the respondents’ opinions. The findings revealed that respondents were male and female at a similar proportion. The majority had at least an undergraduate degree, have a lower management level jobs, and had income in the range of 25,000 -35,000 baht per month.. In addition, the findings also revealed that the first three marketing factors influencing the decision of the respondents to choose low-cost airlines were low price, direct flight, and online system.

Keywords: decision to choose, marketing factors, low-cost airlines

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Authors: Gulsah Olgun, Ozgur Bozdag, Yildirim Ertutar

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This paper mainly focuses on performance assessment of buildings by associating the damage level with the damage cost. For this purpose a methodology is explained and applied to the representative mid-rise concrete building residing in Izmir. In order to consider uncertainties in occurrence of earthquakes, the structural analyses are conducted for all possible earthquakes in the region through the hazard curve. By means of the analyses, probability of the structural response being in different limit states are obtained and used to calculate expected damage cost. The expected damage cost comprises diverse cost components related to earthquake such as cost of casualties, replacement or repair cost of building etc. In this study, inter-story drift is used as an effective response variable to associate expected damage cost with different damage levels. The structural analysis methods performed to obtain inter story drifts are response spectrum method as a linear one, accurate push-over and time history methods to demonstrate the nonlinear effects on loss estimation. Comparison of the results indicates that each method provides similar values of expected damage cost. To sum up, this paper explains an approach which enables to minimize the expected damage cost of buildings and relate performance level to damage cost.

Keywords: expected damage cost, limit states, loss estimation, performance based design

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Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

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This study examined the contribution of thirty-six factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: cost, overrun, building construction projects, Jordan

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Authors: Dong-Ho Kim, Su-Sang Lim, Sang-Won Han, Chang-Taek Hyun

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In the construction site, the cost and schedules are the most important management elements. Despite efforts to integrated management the cost and schedule, WBS classification is struggling to differ from each other. The cost and schedule can be integrated and can be managed due to the characteristic of the detail system in the case of Korea around the axis of pressure and official fixture system. In this research, the Work Breakdown Structure (WBS) integrating the cost and schedules around in government office construction, WBS which can be used in common was presented in order to analyze the detail system of the public institution construction and improve. As to this method, the efficient administration of not only the link application of the cost and schedule but also construction project is expected.

Keywords: WBS, EVMS, integrated cost and schedule, Korea case

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Authors: F. H. Abanda, B. Kamsu-Foguem, J. H. M. Tah

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Construction cost estimation is one of the most important aspects of construction project design. For generations, the process of cost estimating has been manual, time-consuming and error-prone. This has partly led to most cost estimates to be unclear and riddled with inaccuracies that at times lead to over- or under-estimation of construction cost. The development of standard set of measurement rules that are understandable by all those involved in a construction project, have not totally solved the challenges. Emerging Building Information Modelling (BIM) technologies can exploit standard measurement methods to automate cost estimation process and improves accuracies. This requires standard measurement methods to be structured in ontologically and machine readable format; so that BIM software packages can easily read them. Most standard measurement methods are still text-based in textbooks and require manual editing into tables or Spreadsheet during cost estimation. The aim of this study is to explore the development of an ontology based on New Rules of Measurement (NRM) commonly used in the UK for cost estimation. The methodology adopted is Methontology, one of the most widely used ontology engineering methodologies. The challenges in this exploratory study are also reported and recommendations for future studies proposed.

Keywords: BIM, construction projects, cost estimation, NRM, ontology

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Authors: Behnam Habibi Dargah

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The economics of cost-benefit theory seeks to monitor claims and determine their final price. The cost of litigation is important because it is a measure of the efficiency of the justice system. From an economic point of view, the cost of litigation is considered to be the point of equilibrium of litigation, whereby litigation is regarded as a high-risk investment and is initiated when the costs are less than the probable and expected benefits. Costs are economically separated into private and social costs. Private cost includes material (direct and indirect) and spiritual costs. The social costs of litigation are also subsidized-centric due to the public and governmental nature of litigation and cover both types of bureaucratic bureaucracy and the costs of judicial misconduct. Macroeconomic policy in the economics of justice is the reverse engineering of controlling the social costs of litigation by employing selective litigation and working on the judicial culture to achieve rationality in the monopoly system. Procedures for controlling and managing court costs are also circumscribed to economic patterns in the field. Rational cost allocation model and cost transfer model. The rational allocation model deals with cost-tolerance systems, and the transfer model also considers three models of transferability, including legal, judicial and contractual transferability, which will be described and explored in the present article in a comparative manner.

Keywords: cost of litigation, economics of litigation, private cost, social cost, cost of litigation

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Authors: Mohammed Darwish

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Workplace injuries cost organizations significant amount of money. Causes of injuries at workplace are very well documented in the literature and attributed to variety of reasons. One important reason is the long working-hours. The purpose of this paper is to develop a mathematical model that finds the optimal working-hours at workplace. The developed model minimizes the expected total cost which consists of the expected cost incurred due to unsafe conditions of workplace, the other cost is related to the lost production due to work incidents, and the production cost.

Keywords: 8-hour workday, mathematical model, optimal working hours, workplace injuries

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Authors: Andrea Schnabl, Mario Bernhart

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The controlling instrument of an internal cost allocation (IT chargeback) is commonly used to make IT costs transparent and controllable. Information Technology (IT) became, especially for information industries, a central competitive factor. Consequently, the focus is not on minimizing IT costs but on the strategic aligned application of IT. Hence, an internal IT cost allocation should be designed to enhance the business-IT alignment (strategic alignment of IT) in order to support the effective application of IT from a company’s point of view. To identify design criteria for an internal cost allocation to support business alignment a case study analysis at a typical medium-sized firm in information industry is performed. Documents, Key Performance Indicators, and cost accounting data over a period of 10 years are analyzed and interviews are performed. The derived design criteria are evaluated by 6 heads of IT departments from 6 different companies, which have an internal IT cost allocation at use. By applying these design criteria an internal cost allocation serves not only for cost controlling but also as an instrument in strategic IT management.

Keywords: accounting for IT services, Business IT Alignment, internal cost allocation, IT controlling, IT governance, strategic IT management

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Authors: Pawan Kumar Sharma, Sudhakar Dwivedi, R. K. Arora

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Saffron is one of the most precious spices grown on the earth and is cultivated in a very limited area in few countries of the world. It has also been grown as a niche crop in Kishtwar district of Jammu region of Jammu and Kashmir State of India. This paper attempts to examine the presence of cost inefficiencies in saffron production and the associated socio-economic characteristics of saffron growers in the mentioned area. Although the numbers of inputs used in cultivation of saffron were limited, still cost inefficiencies were present in its production. The net present value (NPV), internal rate of return (IRR) and profitability index (PI) of investment in five years of saffron production were INR 1120803, 95.67 % and 3.52 respectively. The estimated coefficients of saffron stochastic cost function for saffron bulbs, human labour, animal labour, manure and saffron output were positive. The saffron growers having non-farm income were more cost inefficient as compared to farmers who did not have sources of income other than farming by 0.04 %. The maximum value of cost efficiency for saffron grower was 1.69 with mean value of 1.12. The majority of farmers have low cost inefficiencies, as the highest frequency of occurrence of the predicted cost efficiency was below 1.06.

Keywords: saffron, internal rate of return, cost efficiency, stochastic frontier model

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Authors: Z. Hamed, K. Sa'deya, E. Abdelrasheed, I. Mahamid

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The construction industry is one of the main sectors that play basic role in the urban and rural development of a society. It provides important ingredients for the development of an economy. However, many construction projects experience extensive cost overrun. This study was conducted to identify the causes of cost overrun in building construction contracts in Al Madinah, Saudi Arabia and test the importance of these causes from contractors' perspective. To achieve the study objectives, a questionnaire survey was conducted to identify and rank cost overrun causes from the perspective of contractors. The findings found that the top five cost overrun causes are: lack of experience in the line of work, lack of labor productivity, delay in payments, rework and material waste. It is hoped that the findings will guide efforts to improve the performance of construction industry in Saudi Arabia and other developing countries.

Keywords: building, contractor, cost increase, cost overrun

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Authors: Elsheikh Asser

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Time and cost are the main goals of the construction project management. The first schedule developed may not be a suitable schedule for beginning or completing the project to achieve the target completion time at a minimum total cost. In general, there are trade-offs between time and cost (TCT) to complete the activities of a project. This research presents genetic algorithms (GAs) multi-objective model for project scheduling considering different scenarios such as least cost, least time, and target time.

Keywords: genetic algorithms, time-cost trade-off, multi-objective model, project scheduling

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Authors: Dezie L. Warganegara, Dewi Tamara

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The objectives of this study are to investigate the existence of the sticky cost behaviour of firms listed in the Indonesia Stock Exchange (IDX) and to find an evidence on the effects of sticky operating expenses (SG&A expenses) on profitability of firms. For the first objective, this study found that the sticky cost behaviour does exist. For the second objective, this study finds that the stickier the operating expenses the less future profitability of the firms. This study concludes that sticky cost affects negatively to the performance and, therefore, firms should include flexibility in designing the cost structure of their firms.

Keywords: sticky costs, Indonesia Stock Exchange (IDX), profitability, operating expenses, SG&A

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Authors: M. Al-Farttoosi, M. Y. Rafiq, J. Summerscales, C. Williams

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Structures can be subjected to impact loading from various sources like earthquake, tsunami, missiles and explosions. The impact loading can cause different degrees of damage to concrete structures. The demand for strengthening and rehabilitation of damaged structures is increasing. In recent years, Car0bon Fibre Reinforced Polymer (CFRP) matrix composites has gain more attention for strengthening and repairing these structures. To study the impact behaviour of the reinforced concrete (RC) beams strengthened or repaired using CFRP, a heavy impact test machine was designed and manufactured .The machine included a newly designed support system for beams together with various instrumentation. This paper describes the support design configuration of the impact test machine, instrumentation and dynamic analysis of the concrete beams. To evaluate the efficiency of the new impact test machine, experimental impact tests were conducted on simple supported reinforced concrete beam. Different methods were used to determine the impact force and impact response of the RC beams in terms of inertia force, maximum deflection, reaction force and fracture energy. The manufactured impact test machine was successfully used in testing RC beams under impact loading and used successfully to test the reinforced concrete beams strengthened or repaired using CFRP under impact loading.

Keywords: beam, concrete, impact, machine

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Authors: Anil Khanal, Ali Osareh, Gary Lebby

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Wind energy offers a significant advantage such as no fuel costs and no emissions from generation. However, wind energy sources are variable and non-dispatchable. The utility grid is able to accommodate the variability of wind in smaller proportion along with the daily load. However, at high penetration levels, the variability can severely impact the utility reserve requirements and the cost associated with it. In this paper, the impact of wind energy is evaluated in detail in formulating the total utility cost. The objective is to minimize the overall cost of generation while ensuring the proper management of the load. Overall cost includes the curtailment cost, reserve cost and the reliability cost as well as any other penalty imposed by the regulatory authority. Different levels of wind penetrations are explored and the cost impacts are evaluated. As the penetration level increases significantly, the reliability becomes a critical question to be answered. Here, we increase the penetration from the wind yet keep the reliability factor within the acceptable limit provided by NERC. This paper uses an economic dispatch (ED) model to incorporate wind generation into the power grid. Power system costs are analyzed at various wind penetration levels using Linear Programming. The goal of this study shows how the increases in wind generation will affect power system economics.

Keywords: wind power generation, wind power penetration, cost analysis, economic dispatch (ED) model

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Authors: Bundit Pungnirund

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This research aimed to investigate the relationship between attitude towards marketing mix, brand image and consumer behavior of the passengers of low-cost airlines service. This study employed by quantitative research and the questionnaire was used to collect the data from 400 sampled of the passengers who have ever used the low-cost airline services based in Bangkok, Thailand. The descriptive statistics and Pearson’s correlation analysis were used to analyze data. The research results revealed that the attitude of the marketing mix of the low-cost airline services including product, price, place, promotion and process had related to the consumer behavior on the aspects of duration of service and frequency of service. While, the brand image of the low cost airline including the characteristics of organization, service quality and company identity had related to the consumer behavior on duration of service, frequency of service and cost of service at the significant statistically acceptable levels.

Keywords: brand image, consumer behavior, low-cost airline, marketing mix

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Authors: Bita Mashayekhi, Mohammad Ara

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The purpose of this study is to provide some empirical evidence about implementing Activity-Based Costing (ABC) in the hospitality industry in Iran. For this purpose, we consider the Tabriz International Hotel as our sample hotel and then gather the relevant data from its cost accounting system in 2012. Then, we use ABC as our costing method and compare the cost of each service unit with that cost which had been extracted for the traditional costing method. The results show a different cost per unit for two methods. Also, because of its more precise and detailed provided information, an ABC system facilitates the decision-making process for managers on decisions related to profitability analysis, budgeting, pricing, and so on.

Keywords: Activity-Based Costing (ABC), activity, cost driver, hospitality industry

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Authors: Mona Baniahmadi, Saied Haghanifar

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Radio Frequency Identification (RFID) is regarded as a promising technology for the optimization of supply chain processes since it improves manufacturing and retail operations from forecasting demand for planning, managing inventory, and distribution. This study precisely aims at learning to know the RFID technology and at explaining how it can concretely be used for supply chain management and how it can help improving it in the case of Hejrat Company which is located in Iran and works on the distribution of medical drugs and cosmetics. This study uses some statistical analysis to calculate the expected benefits of an integrated RFID system on supply chain obtained through competitive advantages increases with decreasing cost factor. The study investigates how the cost of storage process, labor cost, the cost of missing goods, inventory management optimization, on-time delivery, order cost, lost sales and supply process optimization affect the performance of the integrated RFID supply chain regarding cost factors and provides a competitive advantage.

Keywords: cost, competitive advantage, radio frequency identification, supply chain

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

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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

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Authors: Leyla Esfandiari

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Rapid, sensitive detection of nucleic acid (NA) molecules of specific sequence is of interest for a range of diverse health-related applications such as screening for genetic diseases, detecting pathogenic microbes in food and water, and identifying biological warfare agents in homeland security. Sequence-specific nucleic acid detection platforms rely on base pairing interaction between two complementary single stranded NAs, which can be detected by the optical, mechanical, or electrochemical readout. However, many of the existing platforms require amplification by polymerase chain reaction (PCR), fluorescent or enzymatic labels, and expensive or bulky instrumentation. In an effort to address these shortcomings, our research is focused on utilizing the cutting edge nanotechnology and microfluidics along with resistive pulse electrical measurements to design and develop a cost-effective, handheld and highly-sensitive nanopore-based sensor for point-of-care medical diagnostics.

Keywords: diagnostics, nanopore, nucleic acids, sensor

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

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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

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Authors: Balimu Mwiya, Mundia Muya, Chabota Kaliba, Peter Mukalula

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Factors affecting construction unit cost vary depending on a country’s political, economic, social and technological inclinations. Factors affecting construction costs have been studied from various perspectives. Analysis of cost factors requires an appreciation of a country’s practices. Identified cost factors provide an indication of a country’s construction economic strata. The purpose of this paper is to identify the essential factors that affect unit cost estimation and their breakdown using artificial neural networks. Twenty-five (25) identified cost factors in road construction were subjected to a questionnaire survey and employing SPSS factor analysis the factors were reduced to eight. The 8 factors were analysed using the neural network (NN) to determine the proportionate breakdown of the cost factors in a given construction unit rate. NN predicted that political environment accounted 44% of the unit rate followed by contractor capacity at 22% and financial delays, project feasibility, overhead and profit each at 11%. Project location, material availability and corruption perception index had minimal impact on the unit cost from the training data provided. Quantified cost factors can be incorporated in unit cost estimation models (UCEM) to produce more accurate estimates. This can create improvements in the cost estimation of infrastructure projects and establish a benchmark standard to assist the process of alignment of work practises and training of new staff, permitting the on-going development of best practises in cost estimation to become more effective.

Keywords: construction cost factors, neural networks, roadworks, Zambian construction industry

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Authors: Amir Rashid

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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

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Authors: Ankit Chakraborty, Raj Shah, Prayas Variya

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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

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Authors: Vasuki Rayapati, Bhanu Duggal

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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

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Authors: Zhenyu Du, Ed Collings, James Meredith

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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

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Authors: Hamide Özyürek, Metin Yılmaz

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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

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Authors: B. Sudarsan Baskar, S. Pooja Pragati, S. Raj Kumar

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The cost effectiveness in aircraft maintenance is of high privilege in the recent days. The cost effectiveness can be effectively made when line maintenance activities are incorporated at airports during Turn around time (TAT). The present work outcomes the shortcomings that affect the dispatching of the aircrafts, aiming at high fleet operability and low maintenance cost. The operational and cost constraints have been discussed and a suggestive alternative mechanism is proposed. The possible allocation of all deferred maintenance tasks to a set of all deferred maintenance tasks to a set of suitable airport resources have termed as alternative and is discussed in this paper from the data’s collected from the kingfisher airlines.

Keywords: decision support system, aircraft maintenance planning, maintenance-cost, RUL(remaining useful life), logistics, supply chain management

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Authors: Mohamed Shaban, Adel Yahya

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The goal of this paper study is to schedule the power generation units to minimize fuel consumption cost based on a model that solves unit commitment problems. This can be done by utilizing forward dynamic programming method to determine the most economic scheduling of generating units. The model was applied to a power station, which consists of four generating units. The obtained results show that the applications of forward dynamic programming method offer a substantial reduction in fuel consumption cost. The fuel consumption cost has been reduced from $116,326 to $102,181 within a 24-hour period. This means saving about 12.16 % of fuel consumption cost. The study emphasizes the importance of applying modeling schedule programs to the operation of power generation units. As a consequence less consumption of fuel, less loss of power and less pollution

Keywords: unit commitment, forward dynamic, fuel cost, programming, generation scheduling, operation cost, power system, generating units

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Authors: Amin AminiKhafri, James M. Dawson-Edwards, Ryan M. Simpson, Simaan M. AbouRizk

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Earned value management (EVM) has been introduced as an integrated method to combine schedule, budget, and work breakdown structure (WBS). EVM provides various indices to demonstrate project performance including the cost performance index (CPI). CPI is also used to forecast final project cost at completion based on the cost performance during the project execution. Knowing the final project cost during execution can initiate corrective actions, which can enhance project outputs. CPI, however, is not constant during the project, and calculating the final project cost using a variable index is an inaccurate and challenging task for practitioners. Since CPI is based on the cumulative progress values and because of the learning curve effect, CPI variation dampens and stabilizes as project progress. Although various definitions for the CPI stability have been proposed in literature, many scholars have agreed upon the definition that considers a project as stable if the CPI at 20% completion varies less than 0.1 from the final CPI. While 20% completion point is recognized as the stability point for military development projects, construction projects stability have not been studied. In the current study, an empirical study was first conducted using construction project data to determine the stability point for construction projects. Early findings have demonstrated that a majority of construction projects stabilize towards completion (i.e., after 70% completion point). To investigate the effect of CPI stability on cost forecast accuracy, the correlation between CPI stability and project cost at completion forecast accuracy was also investigated. It was determined that as projects progress closer towards completion, variation of the CPI decreases and final project cost forecast accuracy increases. Most projects were found to have 90% accuracy in the final cost forecast at 70% completion point, which is inlined with findings from the CPI stability findings. It can be concluded that early stabilization of the project CPI results in more accurate cost at completion forecasts.

Keywords: cost performance index, earned value management, empirical study, final project cost

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Authors: Rudi Kurniawan Arief

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Manufacturing cost and setup time are the hot topics to improve in Metal Stamping industry because material and components price are always rising up while costumer requires to cut down the component price year by year. The Single Minute Exchange of Die (SMED) is one of many methods to reduce waste in stamping industry. The Japanese Quick Die Change (QDC) dies system is one of SMED systems that could reduce both of setup time and manufacturing cost. However, this system is rarely used in stamping industries. This paper will analyze how deep the QDC dies system could reduce setup time and the manufacturing cost. The research is conducted by direct observation, simulating and comparing of QDC dies system with conventional dies system. In this research, we found that the QDC dies system could save up to 35% of manufacturing cost and reduce 70% of setup times. This simulation proved that the QDC die system is effective for cost reduction but must be applied in several parallel production processes.

Keywords: press die, metal stamping, QDC system, single minute exchange die, manufacturing cost saving, SMED

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