Search results for: portfolio planning
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3518

Search results for: portfolio planning

3128 The Secret Ingredient of Student Involvement: Applied Science Case Studies to Enhance Sustainability

Authors: Elizelle Juanee Cilliers

Abstract:

Recent planning thinking has laid the foundations for a general sense of best practice that aims to enhance the quality of life, suggesting an open and participatory process. It is accepted that integration of top-down and bottom-up approaches may lead to efficient action in environments and sustainable planning and development, although it is also accepted that such an integrated approach has various challenges of implementation. A flexible framework in which the strengths of both the top-down and bottom-up approaches were explored in this research, based on the EU Interreg VALUE Added project and five case studies where student education and student involvement played a crucial role within the participation process of the redesign of the urban environment. It was found that international student workshops were an effective tool to integrate bottom-up and top-down structures, as it acted as catalyst for communication, interaction, creative design, quick transformation from planning to implementation, building social cohesion, finding mutual ground between stakeholders and thus enhancing overall quality of life and quality of environments. It offered a good alternative to traditional participation modes and created a platform for an integrative planning approach. The role and importance of education and integration within the urban environment were emphasized.

Keywords: top-down, bottom-up, flexible, student involvement

Procedia PDF Downloads 189
3127 Applications Using Geographic Information System for Planning and Development of Energy Efficient and Sustainable Living for Smart-Cities

Authors: Javed Mohammed

Abstract:

As urbanization process has been and will be happening in an unprecedented scale worldwide, strong requirements from academic research and practical fields for smart management and intelligent planning of cities are pressing to handle increasing demands of infrastructure and potential risks of inhabitants agglomeration in disaster management. Geo-spatial data and Geographic Information System (GIS) are essential components for building smart cities in a basic way that maps the physical world into virtual environment as a referencing framework. On higher level, GIS has been becoming very important in smart cities on different sectors. In the digital city era, digital maps and geospatial databases have long been integrated in workflows in land management, urban planning and transportation in government. People have anticipated GIS to be more powerful not only as an archival and data management tool but also as spatial models for supporting decision-making in intelligent cities. The purpose of this project is to offer observations and analysis based on a detailed discussion of Geographic Information Systems( GIS) driven Framework towards the development of Smart and Sustainable Cities through high penetration of Renewable Energy Technologies.

Keywords: digital maps, geo-spatial, geographic information system, smart cities, renewable energy, urban planning

Procedia PDF Downloads 501
3126 Lean Manufacturing: Systematic Layout Planning Application to an Assembly Line Layout of a Welding Industry

Authors: Fernando Augusto Ullmann Tobe, Moacyr Amaral Domingues, Figueiredo, Stephany Rie Yamamoto Gushiken

Abstract:

The purpose of this paper is to present the process of elaborating the layout of an assembly line of a welding industry using the principles of lean manufacturing as the main driver. The objective of this paper is relevant since the current layout of the assembly line causes non-productive times for operators, being related to the lean waste of unnecessary movements. The methodology used for the project development was Project-based Learning (PBL), which is an active way of learning focused on real problems. The process of selecting the methodology for layout planning was developed considering three criteria to evaluate the most relevant one for this paper's goal. As a result of this evaluation, Systematic Layout Planning was selected, and three steps were added to it – Value Stream Mapping for the current situation and after layout changed and the definition of lean tools and layout type. This inclusion was to consider lean manufacturing in the layout redesign of the industry. The layout change resulted in an increase in the value-adding time of operations carried out in the sector, reduction in movement times between previous and final assemblies, and in cost savings regarding the man-hour value of the employees, which can be invested in productive hours instead of movement times.

Keywords: assembly line, layout, lean manufacturing, systematic layout planning

Procedia PDF Downloads 197
3125 Screening of Strategic Management Criterions in Hospitals Using Delphi-Fuzzy Method

Authors: Helia Moayedi, Mahdi Moaidi

Abstract:

Nowadays, the managing and planning of hospitals is facing many problems. Failure to recognize the main criteria for strategic management to ensure long-term hospital performance can lead to many health problems. To achieve this goal, a qualitative-quantitate method titled Delphi-Fuzzy has been applied. This strategy makes it possible for experts to screen among the most important criteria in strategic management. To conduct this operation, a statistical society consisting of 20 experts in Ahwaz hospitals has been questioned. The final model confirms the key criterions after three stages of Delphi. This model provides the possibility to focus on the basic criteria and can determine the organization’s main orientation.

Keywords: Delphi-fuzzy method, hospital management, long-term planning, qualitative-quantitate method, screening of strategic criteria, strategic planning

Procedia PDF Downloads 100
3124 Knowledge Integration from Concept to Practice: An Exploratory Study of Designing a Flood Resilient Urban Park in Viet Nam

Authors: To Quyen Le, Oswald Devisch, Tu Anh Trinh, Els Hannes

Abstract:

Urban centres worldwide are affected differently by flooding. In Vietnam this impact is increasingly negative caused by a process of rapid urbanisation. Traditional spatial planning and flood mitigation planning are not able to deal with this growing threat. This article therefore proposes to focus on increasing the participation of local communities in flood control and management. It explores, on the basis of a design studio exercise, how lay knowledge on flooding can be integrated within planning processes. The article presents a theoretical basis for the structured criterion for site selection for a flood resilient urban park from the perspective of science, then discloses the tacit and explicit knowledge of the flood-prone area and finally integrates this knowledge into the design strategies for flood resilient urban park design.

Keywords: analytic hierarchy process, AHP, design resilience, flood resilient urban park, knowledge integration

Procedia PDF Downloads 150
3123 Application of Stochastic Models on the Portuguese Population and Distortion to Workers Compensation Pensioners Experience

Authors: Nkwenti Mbelli Njah

Abstract:

This research was motivated by a project requested by AXA on the topic of pensions payable under the workers compensation (WC) line of business. There are two types of pensions: the compulsorily recoverable and the not compulsorily recoverable. A pension is compulsorily recoverable for a victim when there is less than 30% of disability and the pension amount per year is less than six times the minimal national salary. The law defines that the mathematical provisions for compulsory recoverable pensions must be calculated by applying the following bases: mortality table TD88/90 and rate of interest 5.25% (maybe with rate of management). To manage pensions which are not compulsorily recoverable is a more complex task because technical bases are not defined by law and much more complex computations are required. In particular, companies have to predict the amount of payments discounted reflecting the mortality effect for all pensioners (this task is monitored monthly in AXA). The purpose of this research was thus to develop a stochastic model for the future mortality of the worker’s compensation pensioners of both the Portuguese market workers and AXA portfolio. Not only is past mortality modeled, also projections about future mortality are made for the general population of Portugal as well as for the two portfolios mentioned earlier. The global model was split in two parts: a stochastic model for population mortality which allows for forecasts, combined with a point estimate from a portfolio mortality model obtained through three different relational models (Cox Proportional, Brass Linear and Workgroup PLT). The one-year death probabilities for ages 0-110 for the period 2013-2113 are obtained for the general population and the portfolios. These probabilities are used to compute different life table functions as well as the not compulsorily recoverable reserves for each of the models required for the pensioners, their spouses and children under 21. The results obtained are compared with the not compulsory recoverable reserves computed using the static mortality table (TD 73/77) that is currently being used by AXA, to see the impact on this reserve if AXA adopted the dynamic tables.

Keywords: compulsorily recoverable, life table functions, relational models, worker’s compensation pensioners

Procedia PDF Downloads 141
3122 Understanding Complexity at Pre-Construction Stage in Project Planning of Construction Projects

Authors: Mehran Barani Shikhrobat, Roger Flanagan

Abstract:

The construction planning and scheduling based on using the current tools and techniques is resulted deterministic in nature (Gantt chart, CPM) or applying a very little probability of completion (PERT) for each task. However, every project embodies assumptions and influences and should start with a complete set of clearly defined goals and constraints that remain constant throughout the duration of the project. Construction planners continue to apply the traditional methods and tools of “hard” project management that were developed for “ideal projects,” neglecting the potential influence of complexity on the design and construction process. The aim of this research is to investigate the emergence and growth of complexity in project planning and to provide a model to consider the influence of complexity on the total project duration at the post-contract award pre-construction stage of a project. The literature review showed that complexity originates from different sources of environment, technical, and workflow interactions. They can be divided into two categories of complexity factors, first, project tasks, and second, project organisation management. Project tasks may originate from performance, lack of resources, or environmental changes for a specific task. Complexity factors that relate to organisation and management refer to workflow and interdependence of different parts. The literature review highlighted the ineffectiveness of traditional tools and techniques in planning for complexity. However, this research focus on understanding the fundamental causes of the complexity of construction projects were investigated through a questionnaire with industry experts. The results were used to develop a model that considers the core complexity factors and their interactions. System dynamics were used to investigate the model to consider the influence of complexity on project planning. Feedback from experts revealed 20 major complexity factors that impact project planning. The factors are divided into five categories known as core complexity factors. To understand the weight of each factor in comparison, the Analytical Hierarchy Process (AHP) analysis method is used. The comparison showed that externalities are ranked as the biggest influence across the complexity factors. The research underlines that there are many internal and external factors that impact project activities and the project overall. This research shows the importance of considering the influence of complexity on the project master plan undertaken at the post-contract award pre-construction phase of a project.

Keywords: project planning, project complexity measurement, planning uncertainty management, project risk management, strategic project scheduling

Procedia PDF Downloads 72
3121 The Invisible Planner: Unearthing the Informal Dynamics Shaping Mixed-Use and Compact Development in Ghanaian Cities

Authors: Muwaffaq Usman Adam, Isaac Quaye, Jim Anbazu, Yetimoni Kpeebi, Michael Osei-Assibey

Abstract:

Urban informality, characterized by spontaneous and self-organized practices, plays a significant but often overlooked role in shaping the development of cities, particularly in the context of mixed-use and compact urban environments. This paper aims to explore the invisible planning processes inherent in informal practices and their influence on the urban form of Ghanaian cities. By examining the dynamic interplay between informality and formal planning, the study will discuss the ways in which informal actors shape and plan for mixed-use and compact development. Drawing on the synthesis of relevant secondary data, the research will begin by defining urban informality and identifying the factors that contribute to its prevalence in Ghanaian cities. It will delve into the concept of mixed-use and compact development, highlighting its benefits and importance in urban areas. Drawing on case studies, the paper will uncover the hidden planning processes that occur within informal settlements, showcasing their impact on the physical layout, land use, and spatial arrangements of Ghanaian cities. The study will also uncover the challenges and opportunities associated with informal planning. It examines the constraints faced by informal planners (actors) while also exploring the potential benefits and opportunities that emerge when informality is integrated into formal planning frameworks. By understanding the invisible planner, the research will offer valuable insights into how informal practices can contribute to sustainable and inclusive urban development. Based on the findings, the paper will present policy implications and recommendations. It highlights the need to bridge the policy gaps and calls for the recognition of informal planning practices within formal systems. Strategies are proposed to integrate informality into planning frameworks, fostering collaboration between formal and informal actors to achieve compact and mixed-use development in Ghanaian cities. This research underscores the importance of recognizing and leveraging the invisible planner in Ghanaian cities. By embracing informal planning practices, cities can achieve more sustainable, inclusive, and vibrant urban environments that meet the diverse needs of their residents. This research will also contribute to a deeper understanding of the complex dynamics between informality and planning, advocating for inclusive and collaborative approaches that harness the strengths of both formal and informal actors. The findings will likewise contribute to advancing our understanding of informality's role as an invisible yet influential planner, shedding light on its spatial planning implications on Ghanaian cities.

Keywords: informality, mixed-uses, compact development, land use, ghana

Procedia PDF Downloads 79
3120 The Influence of Guided and Independent Training Toward Teachers’ Competence to Plan Early Childhood Education Learning Program

Authors: Sofia Hartati

Abstract:

This research is aimed at describing training in early childhood education program empirically, describing teachers ability to plan lessons empirically, and acquiring empirical data as well as analyzing the influence of guided and independent training toward teachers competence in planning early childhood learning program. The method used is an experiment. It collected data with a population of 76 early childhood educators in Tunjung Teja Sub District area through random sampling technique and grouped into two namely 38 people in an experiment class and 38 people in a controlled class. The technique used for data collections is a test. The result of the research shows that there is a significant influence between training for guided educators toward Teachers Ability toward Planning Early Childhood Learning Program. Guided training has been proven to improve the ability to comprehend planning a learning program. The ability to comprehend planning a learning program owned by teachers of early childhood program comprises of 1) determining the characteristics and competence of students prior to learning; 2) formulating the objective of the learning; 3) selecting materials and its sequences; 4) selecting teaching methods; 5) determining the means or learning media; 6) selecting evaluation strategy as a part of teachers pedagogic competence. The result of this research describes a difference in the competence level of teachers who have joined guided training which is relatively higher than the teachers who joined the independent training. Guided training is one of an effective way to improve the knowledge and competence of early childhood educators.

Keywords: competence, planning, teachers, training

Procedia PDF Downloads 238
3119 Development of Industry Sector Specific Factory Standards

Authors: Peter Burggräf, Moritz Krunke, Hanno Voet

Abstract:

Due to shortening product and technology lifecycles, many companies use standardization approaches in product development and factory planning to reduce costs and time to market. Unlike large companies, where modular systems are already widely used, small and medium-sized companies often show a much lower degree of standardization due to lower scale effects and missing capacities for the development of these standards. To overcome these challenges, the development of industry sector specific standards in cooperations or by third parties is an interesting approach. This paper analyzes which branches that are mainly dominated by small or medium-sized companies might be especially interesting for the development of factory standards using the example of the German industry. For this, a key performance indicator based approach was developed that will be presented in detail with its specific results for the German industry structure.

Keywords: factory planning, factory standards, industry sector specific standardization, production planning

Procedia PDF Downloads 370
3118 Design for Sustainability

Authors: Qiuying Li, Fan Chen

Abstract:

It is a shared opinion that sustainable development requires continuously updated, meaning that apparent changes in the way we usually produce our buildings are strongly needed. In China’s construction field, the associated environmental, health problems are quite prominent.Especially low sustainable performance (as opposed to Green creation) flooding the real estate boom and high-speed urban and rural urbanization. Currently, we urgently need to improve the existing design basis,objectives,scope and procedures,optimization design portfolio.More new evaluation system designed to facilitate the building to enhance the overall level.

Keywords: design for sustainability, design and materials, ecomaterials, sustainable architecture and urban design

Procedia PDF Downloads 487
3117 Progress of Research on Community Canteens and Reflections on Planning in China

Authors: Xi Zuo

Abstract:

Against the background of the aging population and changing family structure in China, community canteens have become an important vehicle for community-based home care services and a new space for social interaction. In this paper, we review past studies and the actual construction situation in China, firstly sort out the social interaction of the elderly and the types of places, and on this basis, we find that there is an obvious disconnection between the current construction and the academic research, and the contradiction between social benefit and cost-effectiveness, and therefore we put forward the relevant construction planning and thinking, in order to provide a disciplinary basis and academic support for the construction of community canteens and the construction of elderly-friendly cities. In order to provide disciplinary basis and academic support for the construction of community canteens and the construction of senior-friendly cities.

Keywords: urban and rural planning, community canteens, elderly people, senior-friendly

Procedia PDF Downloads 21
3116 Research on Characteristics and Inventory Planning Counter-Measure of Mature Industrial Zones in the Background of China's New Normal

Authors: Dong Chen, Han Song, Tingting Wei

Abstract:

Industrial zones have made significant contributions to the economic development of Chinese urban areas for decades. In the background of China's New Normal, numbers of mature industrial zones are stepping into a new stage of inventory development instead of increment development. The aim of this study is to discover new characteristics and problems and corresponding inventory planning guidance of mature industrial zones. A case of Yangzhou Hi-Tech Industrial Development Zone is reported in this study. Based on a historical analysis and data analysis of land-use, it is found that land-use of the zone is near saturation and signs of land updating have begun to appear. It is observed that the zone is facing problems including disorder of land development, low economic productivity and single function. Through the data of economic output, tax contribution, industrial category, industry life cycle and environmental influence, a comprehensive assessment based on two dimensions, economic benefits and industrial matchup, is made upon every parcel in the zone. According to the assessment, the zone is divided into spatial units of the update with specific planning guidance. It comes to a conclusion as four directions of inventory planning guidance in mature industrial zones: moving industries with poor economic benefit and negative environmental influence, adding urban function and new industrial function to the zone, optimizing the function of important space, and restricting the mass layout of the real estate industry to provide space for industrial upgrading.

Keywords: China's new normal, mature industrial zones, land-use, inventory planning

Procedia PDF Downloads 429
3115 Meaningful General Education Reform: Integrating Core Curricula and Institutional Values

Authors: Michael W. Markowitz

Abstract:

A central element of higher education today is the “core” or “general education” curriculum: that configuration of courses that often encompasses the essence of liberal arts education. Ensuring that such offerings reflect the mission and values of the institution is a challenge faced by most college and universities, often more than once. This paper presents an action model of program planning designed to structure the processes of developing, implementing and revising core curricula in a manner consistent with key institutional goals and objectives. Through presentation of a case study from a university in the United States, the elements of needs assessment, stakeholder investment and collaborative compromise are shown as key components of a planning strategy that can produce a general education program that is comprehensive, academically rigorous, assessable and mission consistent. The paper concludes with recommendations for both the implementation and evaluation of such programs in practice.

Keywords: academic assessment, academic program planning, curriculum development, general education reform

Procedia PDF Downloads 282
3114 Developing Integrated Model for Building Design and Evacuation Planning

Authors: Hao-Hsi Tseng, Hsin-Yun Lee

Abstract:

In the process of building design, the designers have to complete the spatial design and consider the evacuation performance at the same time. It is usually difficult to combine the two planning processes and it results in the gap between spatial design and evacuation performance. Then the designers cannot complete an integrated optimal design solution. In addition, the evacuation routing models proposed by previous researchers is different from the practical evacuation decisions in the real field. On the other hand, more and more building design projects are executed by Building Information Modeling (BIM) in which the design content is formed by the object-oriented framework. Thus, the integration of BIM and evacuation simulation can make a significant contribution for designers. Therefore, this research plan will establish a model that integrates spatial design and evacuation planning. The proposed model will provide the support for the spatial design modifications and optimize the evacuation planning. The designers can complete the integrated design solution in BIM. Besides, this research plan improves the evacuation routing method to make the simulation results more practical. The proposed model will be applied in a building design project for evaluation and validation when it will provide the near-optimal design suggestion. By applying the proposed model, the integration and efficiency of the design process are improved and the evacuation plan is more useful. The quality of building spatial design will be better.

Keywords: building information modeling, evacuation, design, floor plan

Procedia PDF Downloads 422
3113 Outcomes of Educating Care Giver in Tracheostomy Wound Care for Discharge Planning of Tracheostomy Patients at the Ear, Nose, Throat, and Eye Ward of Songkhla Hospital Thailand

Authors: Kingkan Chumjamras

Abstract:

There are permanent and temporary tracheostomies, and in a permanent tracheostomy, care giver are important persons to know and be able to care for the tracheostomy patient. The objective of this quasi-experimental study was to evaluate outcomes of educating care giver in tracheostomy wound care for discharge planning of tracheostomy patients. The subjects of the study were relatives who directly cared for tracheostomy patients. Thirty subjects were selected according to specified criteria. The research instruments consisted of practice guidelines, manual for relatives in caring for the tracheostomy wound, an assisted model with a tracheostomy wound, a test, an observation form, and a patient’s relative satisfaction questionnaire. The instrument validity was tested by three experts, and the questionnaire reliability was tested with Cronbach’s alpha, and the reliability coefficient was 0.83; the data were analyzed using descriptive statistics, and paired t-test. The results of the study on educating relatives in tracheostomy wound care for discharge planning of tracheostomy patients revealed that the score for knowledge and ability in caring for the tracheostomy wound before receiving the education was at a low level (M= 19.23, SD= 1.57) compared with the very high score (M= 36.40, SD= 19.23) after receiving the education. The difference was statistically significant (p < .05), and relatives’ satisfaction was at a high level (80 percent). Knowledge and ability in caring for tracheostomy patients among patients’ relatives could cause tracheostomy wound complications for tracheostomy patients. One way to control such complications and returns to hospital from infection, in addition to care by the health care team, is educating relatives in tracheostomy wound care for discharge planning of tracheostomy patients.

Keywords: outcomes, educating, care giver, Tracheostomy Wound Care, discharge planning

Procedia PDF Downloads 402
3112 A Multicriteria Mathematical Programming Model for Farm Planning in Greece

Authors: Basil Manos, Parthena Chatzinikolaou, Fedra Kiomourtzi

Abstract:

This paper presents a Multicriteria Mathematical Programming model for farm planning and sustainable optimization of agricultural production. The model can be used as a tool for the analysis and simulation of agricultural production plans, as well as for the study of impacts of various measures of Common Agriculture Policy in the member states of European Union. The model can achieve the optimum production plan of a farm or an agricultural region combining in one utility function different conflicting criteria as the maximization of gross margin and the minimization of fertilizers used, under a set of constraints for land, labor, available capital, Common Agricultural Policy etc. The proposed model was applied to the region of Larisa in central Greece. The optimum production plan achieves a greater gross return, a less fertilizers use, and a less irrigated water use than the existent production plan.

Keywords: sustainable optimization, multicriteria analysis, agricultural production, farm planning

Procedia PDF Downloads 575
3111 The Impact of Business Process Reengineering to the Company Performance through TQM and Enterprise Resource Planning Implementation on Manufacturing Companies in East Java, Indonesia

Authors: Widjojo Suprapto, Zeplin Jiwa Husada Tarigan, Sautma Ronni Basana

Abstract:

Business process reengineering can be conducted by some procedure rationalization for all related departments in a company so that all data and business processes are connected. The changing of any business process is used to set up the working standard so that it gives an impact to the implementation of ERP and the company performance. After collecting and processing the data from 77 manufacturing companies, it is obtained that BPR (Business Process Reengineering) has no direct impact on the implementation of ERP (Enterprise Resource Planning) in the companies and manufacturing performance; however, it influences the implementation of TQM. The implementation of TQM influences directly the implementation of ERP, but it does not influence directly the company performance. The implementation of ERP gives a significant increase in the work performance of the manufacturing companies in East Java.

Keywords: enterprise resources planning, business process reengineering, TQM, company performance

Procedia PDF Downloads 178
3110 Promotion of Public Participation in Community Planning, Bang Nang Li Sub-District, Amphawa District, Samutsongkhram Province

Authors: Sakapas Saengchai, Wilasinee Jintalikitdee, Matinee Kongsatit, Natapol Puaprasert

Abstract:

The study on promotion of public participation in community planning is a qualitative research. The data collection tools included participating observation, in-depth interview and focus group of executives of sub-district administrative organizations, sub-district headmen, community leaders of 5 villages, including civil society forums for exchanging ideas of village members. The study results revealed that key promotions of public participation in community planning were as follows: 1) Perception on public authorities’ information: Public relations should be set and information on community planning, key principles of local people participation should be prepared. Collaboration with community leaders in each village via sub-district administrative organizations should be established. 2) Discussion: In civil society forums, village members should brainstorm their opinions towards community development, village development, quality of life, current situation and problems to be revolved. 3) Participation: Members of each village should jointly participate, with community leaders, in setting sub-district development policies and community development projects. 4) Collaboration: To achieve goals, communities of each member should participate in project implementation and activities of community plans. 5) People power promotion: In each stage of communication planning, community leaders, village committees, local people should jointly set directions of village development and make decisions. This will enhance their joint learning and create community driving power. Community will become strong leading to sustainable self-reliance.

Keywords: people participation, community plans, community development, community driving power

Procedia PDF Downloads 330
3109 Cyber Operational Design and Military Decision Making Process

Authors: M. Karaman, H. Catalkaya

Abstract:

Due to the complex nature of cyber attacks and their effects ranging from personal to governmental level, it becomes one of the priority tasks for operation planners to take into account the risks, influences and effects of cyber attacks. However it can also be embedded or integrated technically with electronic warfare planning, cyber operation planning is needed to have a sole and broadened perspective. This perspective embodies itself firstly in operational design and then military decision making process. In order to find out the ill-structured problems, understand or visualize the operational environment and frame the problem, operational design can help support cyber operation planners and commanders. After having a broadened and conceptual startup with cyber operational design, military decision making process will follow the principles of design into more concrete elements like reaching results after risk management and center of gravity analysis of our and the enemy. In this paper we tried to emphasize the importance of cyber operational design, cyber operation planning and its integration to military decision making problem. In this foggy, uncertain and unaccountable cyber security environment, it is inevitable to stay away from cyber attacks. Therefore, a cyber operational design should be formed with line of operations, decisive points and end states in cyber then a tactical military decision making process should be followed with cyber security focus in order to support the whole operation.

Keywords: cyber operational design, military decision making process (MDMP), operation planning, end state

Procedia PDF Downloads 559
3108 Volatility Index, Fear Sentiment and Cross-Section of Stock Returns: Indian Evidence

Authors: Pratap Chandra Pati, Prabina Rajib, Parama Barai

Abstract:

The traditional finance theory neglects the role of sentiment factor in asset pricing. However, the behavioral approach to asset-pricing based on noise trader model and limit to arbitrage includes investor sentiment as a priced risk factor in the assist pricing model. Investor sentiment affects stock more that are vulnerable to speculation, hard to value and risky to arbitrage. It includes small stocks, high volatility stocks, growth stocks, distressed stocks, young stocks and non-dividend-paying stocks. Since the introduction of Chicago Board Options Exchange (CBOE) volatility index (VIX) in 1993, it is used as a measure of future volatility in the stock market and also as a measure of investor sentiment. CBOE VIX index, in particular, is often referred to as the ‘investors’ fear gauge’ by public media and prior literature. The upward spikes in the volatility index are associated with bouts of market turmoil and uncertainty. High levels of the volatility index indicate fear, anxiety and pessimistic expectations of investors about the stock market. On the contrary, low levels of the volatility index reflect confident and optimistic attitude of investors. Based on the above discussions, we investigate whether market-wide fear levels measured volatility index is priced factor in the standard asset pricing model for the Indian stock market. First, we investigate the performance and validity of Fama and French three-factor model and Carhart four-factor model in the Indian stock market. Second, we explore whether India volatility index as a proxy for fearful market-based sentiment indicators affect the cross section of stock returns after controlling for well-established risk factors such as market excess return, size, book-to-market, and momentum. Asset pricing tests are performed using monthly data on CNX 500 index constituent stocks listed on the National stock exchange of India Limited (NSE) over the sample period that extends from January 2008 to March 2017. To examine whether India volatility index, as an indicator of fear sentiment, is a priced risk factor, changes in India VIX is included as an explanatory variable in the Fama-French three-factor model as well as Carhart four-factor model. For the empirical testing, we use three different sets of test portfolios used as the dependent variable in the in asset pricing regressions. The first portfolio set is the 4x4 sorts on the size and B/M ratio. The second portfolio set is the 4x4 sort on the size and sensitivity beta of change in IVIX. The third portfolio set is the 2x3x2 independent triple-sorting on size, B/M and sensitivity beta of change in IVIX. We find evidence that size, value and momentum factors continue to exist in Indian stock market. However, VIX index does not constitute a priced risk factor in the cross-section of returns. The inseparability of volatility and jump risk in the VIX is a possible explanation of the current findings in the study.

Keywords: India VIX, Fama-French model, Carhart four-factor model, asset pricing

Procedia PDF Downloads 226
3107 Modeling and Analysis of Laser Sintering Process Scanning Time for Optimal Planning and Control

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 76
3106 Evaluation of Urban Parks Based on POI Data: Taking Futian District of Shenzhen as an Example

Authors: Juanling Lin

Abstract:

The construction of urban parks is an important part of eco-city construction, and the intervention of big data provides a more scientific and rational platform for the assessment of urban parks by identifying and correcting the irrationality of urban park planning from the macroscopic level and then promoting the rational planning of urban parks. The study builds an urban park assessment system based on urban road network data and POI data, taking Futian District of Shenzhen as the research object, and utilizes the GIS geographic information system to assess the park system of Futian District in five aspects: park spatial distribution, accessibility, service capacity, demand, and supply-demand relationship. The urban park assessment system can effectively reflect the current situation of urban park construction and provide a useful exploration for realizing the rationality and fairness of urban park planning.

Keywords: urban parks, assessment system, POI, supply and demand

Procedia PDF Downloads 7
3105 Subjectivities of the Inhabitants and Trajectories of Family Life in Vulnerable Groups

Authors: Mora Kestelman

Abstract:

This paper analyzes various family groups of vulnerable populations as regards their family, educational, labor trajectory and sociability from a relational and historical approach based on archive research and fieldwork. Therefrom, their position and life projects are reconsidered as regards the planning and design of the habitat in which they are immersed. It concludes that a critical review of objectivity and subjectivity emphasizes the nonrational, often unconscious, forces that drive human and non-human relationships to configure identities, which, thus, permanently become constituent to the subjects.

Keywords: social psychology, urban planning, self concept, social networks, identity theory

Procedia PDF Downloads 54
3104 Predicting Shortage of Hospital Beds during COVID-19 Pandemic in United States

Authors: Saba Ebrahimi, Saeed Ahmadian, Hedie Ashrafi

Abstract:

World-wide spread of coronavirus grows the concern about planning for the excess demand of hospital services in response to COVID-19 pandemic. The surge in the hospital services demand beyond the current capacity leads to shortage of ICU beds and ventilators in some parts of US. In this study, we forecast the required number of hospital beds and possible shortage of beds in US during COVID-19 pandemic to be used in the planning and hospitalization of new cases. In this paper, we used a data on COVID-19 deaths and patients’ hospitalization besides the data on hospital capacities and utilization in US from publicly available sources and national government websites. we used a novel ensemble modelling of deep learning networks, based on stacking different linear and non-linear layers to predict the shortage in hospital beds. The results showed that our proposed approach can predict the excess hospital beds demand very well and this can be helpful in developing strategies and plans to mitigate this gap.

Keywords: COVID-19, deep learning, ensembled models, hospital capacity planning

Procedia PDF Downloads 131
3103 The Benefits of End-To-End Integrated Planning from the Mine to Client Supply for Minimizing Penalties

Authors: G. Martino, F. Silva, E. Marchal

Abstract:

The control over delivered iron ore blend characteristics is one of the most important aspects of the mining business. The iron ore price is a function of its composition, which is the outcome of the beneficiation process. So, end-to-end integrated planning of mine operations can reduce risks of penalties on the iron ore price. In a standard iron mining company, the production chain is composed of mining, ore beneficiation, and client supply. When mine planning and client supply decisions are made uncoordinated, the beneficiation plant struggles to deliver the best blend possible. Technological improvements in several fields allowed bridging the gap between departments and boosting integrated decision-making processes. Clusterization and classification algorithms over historical production data generate reasonable previsions for quality and volume of iron ore produced for each pile of run-of-mine (ROM) processed. Mathematical modeling can use those deterministic relations to propose iron ore blends that better-fit specifications within a delivery schedule. Additionally, a model capable of representing the whole production chain can clearly compare the overall impact of different decisions in the process. This study shows how flexibilization combined with a planning optimization model between the mine and the ore beneficiation processes can reduce risks of out of specification deliveries. The model capabilities are illustrated on a hypothetical iron ore mine with magnetic separation process. Finally, this study shows ways of cost reduction or profit increase by optimizing process indicators across the production chain and integrating the different plannings with the sales decisions.

Keywords: clusterization and classification algorithms, integrated planning, mathematical modeling, optimization, penalty minimization

Procedia PDF Downloads 100
3102 The Influence of Organisational Culture on the Implementation of Enterprise Resource Planning

Authors: Redha M. Elhuni

Abstract:

The critical key success factors, which have to be targeted with appropriate change management, are the user acceptance and support of a new Enterprise Resource Planning (ERP) system at the early implementation stages. This becomes even more important in Arab context where national and organisational culture with a different value and belief system, resulting in different management styles, might not complement with Western business culture embedded in the predefined standard business processes of existing ERP packages. This study explains and critically evaluates research into national and organizational culture and the influence of different national cultures on the implementation and reengineering process of ERP packages in an Arab context. Using a case study, realized through a quantitative survey testing five of Martinsons’s and Davison’s propositions in a Libyan sample company, confirmed the expected results from the literature review that culture has an impact on the implementation process and that employee empowerment is an unavoidable consequence of an ERP implementation.

Keywords: enterprise resource planning, ERP systems, organisational culture, Arab context

Procedia PDF Downloads 293
3101 Information and Communication Technologies-Based Urban Spaces: From Planning and Design to Implementation

Authors: Yountaik Leem, Kwang Woo Nam, Sang Ho Lee, Tae Heon Moon

Abstract:

As to the development of the capitalist economy, local governments put their focuses on economic growth and quality of life including the management of declined urban area. Together with the rapid advances in ICTs (information and communication technologies) Korean government tried to adapt ICTs to urban spaces to catch these two goals. Ubiquitous city, concept introduced by Mark Weiser in 1988, is a kind of ICTs based urban space which can provide IT services anytime and anywhere. This paper introduces the experience of developing ICTs-based urban planning and it’s implementation process and discusses the effect of the R&D based U-City test-bed project. For a community center of a residential zone in a newly developing city, spatial problems and citizen’s needs were identified to plan IT-based urban services. The paper also describes the structure and functions of Community O/S (COS) as an IT platform which controls data and urban devices such as media facades and U-poles. Not only one-way information but also Interactive services were included. Public creating activities using this platform also added –CO2 emission management and citizen making safety map, etc. The effects of the comprehensive U-City planning in S/W, H/W and human-ware were discussed on the case study of similar individual projects.

Keywords: ICTs-based urban planning, implementation, public IT service, U-City

Procedia PDF Downloads 297
3100 Physical Planning Strategies for Disaster Mitigation and Preparedness in Coastal Region of Andhra Pradesh, India

Authors: Thimma Reddy Pothireddy, Ramesh Srikonda

Abstract:

India is prone to natural disasters such as Floods, droughts, cyclones, earthquakes and landslides frequently due to its geographical considerations. It has become a persistent phenomenon as observed in last ten decades. The recent survey indicates that about 60% of the landmass is prone to earthquakes of various intensities with reference to Richard scale, over 40 million hectares is prone to floods; about 8% of the total area is prone to cyclones and 68% of the area is vulnerable to drought. Climate change is likely to be perceived through the experience of extreme weather events. There is growing societal concern about climate change, given the potential impacts of associated natural hazards such as cyclones, flooding, earthquakes, landslides etc. The recent natural calamities such as Cyclone Hudhud had crossed the land at Northern cost of AP, Vishakapatanam on 12 Oct’2014 with a wind speed ranging between 175 – 200 kmph and the records show that the tidal waves were reached to the height of 14mts and above; and it alarms us to have critical focus on planning issues so as to find appropriate solutions. The existing condition is effective is in terms of institutional set up along with responsive management mechanism of disaster mitigation but considerations at settlement planning level to allow mitigation operations are not adequate. This paper deals to understand the response to climate change will possibly happen through adaptation to climate hazards and essential to work out an appropriate mechanism and disaster receptive settlement planning for responding to natural (and climate-related) calamities particularly to cyclones and floods. The statistics indicate that 40 million hectares flood prone (5% of area), and 1853 kmts of cyclone prone coastal length in India so it is essential and crucial to have appropriate physical planning considerations to improve preparedness and to operate mitigation measures effectively to minimize the loss and damage. Vijayawada capital region which is susceptible to cyclonic and floods has been studied with respect to trajectory analysis to work out risk vulnerability and to integrated disaster mitigation physical planning considerations.

Keywords: meta analysis, vulnerability index, physical planning, trajectories

Procedia PDF Downloads 224
3099 An Automated Optimal Robotic Assembly Sequence Planning Using Artificial Bee Colony Algorithm

Authors: Balamurali Gunji, B. B. V. L. Deepak, B. B. Biswal, Amrutha Rout, Golak Bihari Mohanta

Abstract:

Robots play an important role in the operations like pick and place, assembly, spot welding and much more in manufacturing industries. Out of those, assembly is a very important process in manufacturing, where 20% of manufacturing cost is wholly occupied by the assembly process. To do the assembly task effectively, Assembly Sequences Planning (ASP) is required. ASP is one of the multi-objective non-deterministic optimization problems, achieving the optimal assembly sequence involves huge search space and highly complex in nature. Many researchers have followed different algorithms to solve ASP problem, which they have several limitations like the local optimal solution, huge search space, and execution time is more, complexity in applying the algorithm, etc. By keeping the above limitations in mind, in this paper, a new automated optimal robotic assembly sequence planning using Artificial Bee Colony (ABC) Algorithm is proposed. In this algorithm, automatic extraction of assembly predicates is done using Computer Aided Design (CAD) interface instead of extracting the assembly predicates manually. Due to this, the time of extraction of assembly predicates to obtain the feasible assembly sequence is reduced. The fitness evaluation of the obtained feasible sequence is carried out using ABC algorithm to generate the optimal assembly sequence. The proposed methodology is applied to different industrial products and compared the results with past literature.

Keywords: assembly sequence planning, CAD, artificial Bee colony algorithm, assembly predicates

Procedia PDF Downloads 213