Search results for: private cost
2003 A Study on Numerical Modelling of Rigid Pavement: Temperature and Thickness Effect
Authors: Amin Chegenizadeh, Mahdi Keramatikerman, Hamid Nikraz
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Pavement engineering plays a significant role to develop cost effective and efficient highway and road networks. In general, pavement regarding structure is categorized in two core group namely flexible and rigid pavements. There are various benefits in application of rigid pavement. For instance, they have a longer life and lower maintenance costs in compare with the flexible pavement. In rigid pavement designs, temperature and thickness are two effective parameters that could widely affect the total cost of the project. In this study, a numerical modeling using Kenpave-Kenslab was performed to investigate the effect of these two important parameters in the rigid pavement.Keywords: Rigid pavement, Kenpave, Kenslab, thickness, temperature.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13692002 Investigating the Effect of Refinancing on Financial Behavior of Energy Efficiency Projects
Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian
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Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost promptly. In such cases, refinancing could be a solution to benefit from the long-term returns of the project, if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. In order to fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help to implement financially viable energy efficiency projects so that the community could benefit from their environmental advantages widely.Keywords: Energy efficiency projects, leveraged loan, refinancing, sustainability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12182001 Optimal Planning of Ground Grid Based on Particle Swam Algorithm
Authors: Chun-Yao Lee, Yi-Xing Shen
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This paper presents an application of particle swarm optimization (PSO) to the grounding grid planning which compares to the application of genetic algorithm (GA). Firstly, based on IEEE Std.80, the cost function of the grounding grid and the constraints of ground potential rise, step voltage and touch voltage are constructed for formulating the optimization problem of grounding grid planning. Secondly, GA and PSO algorithms for obtaining optimal solution of grounding grid are developed. Finally, a case of grounding grid planning is shown the superiority and availability of the PSO algorithm and proposal planning results of grounding grid in cost and computational time.Keywords: Genetic algorithm, particle swarm optimization, grounding grid.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20792000 Design of a Cost Effective Off-Grid Wind-Diesel Hybrid Power System in an Island of Bangladesh
Authors: Nahid-Al-Masood, Rifat Mirza, Jubaer Ahmed, Amina Hasan Abedin, S.R. Deeba, Faeza Hafiz, Mahmuda Begum, A. Hasib Chowdhury
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Bangladesh is a developing country with large population. Demand of electrical energy is increasing day by day because of increasing population and industrialization. But due to limited resources, people here are suffering from power crisis problem which is considered as a major obstacle to the economic development. In most of the cases, it is extremely difficult to extend high tension transmission lines to some of the places that are separated from the mainland. Renewable energy is considered to be the right choice for providing clean energy to these remote settlements. This paper proposes a cost effective design of off-grid wind-diesel hybrid power system using combined heat and power (CHP) technology in a grid isolated island, Sandwip, Bangladesh. Design and simulation of the wind-diesel hybrid power system is performed considering different factors for the island Sandwip. Detailed economic analysis and comparison with solar PV system clearly reveals that wind-diesel hybrid power system can be a cost effective solution for the isolated island like Sandwip.Keywords: renewable energy, off-grid, wind-diesel hybrid system, CHP technology, economic analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29691999 Development of a Support Tool for Cost and Schedule Integration Managment at Program Level
Authors: H. J. Yang, R. Z. Jin, I. J. Park, C. T. Hyun
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There has been gradual progress of late in construction projects, particularly in big-scale megaprojects. Due to the long-term construction period, however, with large-scale budget investment, lack of construction management technologies, and increase in the incomplete elements of project schedule management, a plan to conduct efficient operations and to ensure business safety is required. In particular, as the project management information system (PMIS) is meant for managing a single project centering on the construction phase, there is a limitation in the management of program-scale businesses like megaprojects. Thus, a program management information system (PgMIS) that includes program-level management technologies is needed to manage multiple projects. In this study, a support tool was developed for managing the cost and schedule information occurring in the construction phase, at the program level. In addition, a case study on the developed support tool was conducted to verify the usability of the system. With the use of the developed support tool program, construction managers can monitor the progress of the entire project and of the individual subprojects in real time.
Keywords: Cost∙Schedule integration management, Supporting Tool, UI, WBS, CBS, introduce PgMIS (Program Management Information System), PMIS (Project Management Information System)
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14611998 Reliability and Cost Focused Optimization Approach for a Communication Satellite Payload Redundancy Allocation Problem
Authors: Mehmet Nefes, Selman Demirel, Hasan H. Ertok, Cenk Sen
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A typical reliability engineering problem regarding communication satellites has been considered to determine redundancy allocation scheme of power amplifiers within payload transponder module, whose dominant function is to amplify power levels of the received signals from the Earth, through maximizing reliability against mass, power, and other technical limitations. Adding each redundant power amplifier component increases not only reliability but also hardware, testing, and launch cost of a satellite. This study investigates a multi-objective approach used in order to solve Redundancy Allocation Problem (RAP) for a communication satellite payload transponder, focusing on design cost due to redundancy and reliability factors. The main purpose is to find the optimum power amplifier redundancy configuration satisfying reliability and capacity thresholds simultaneously instead of analyzing respectively or independently. A mathematical model and calculation approach are instituted including objective function definitions, and then, the problem is solved analytically with different input parameters in MATLAB environment. Example results showed that payload capacity and failure rate of power amplifiers have remarkable effects on the solution and also processing time.
Keywords: Communication satellite payload, multi-objective optimization, redundancy allocation problem, reliability, transponder.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11911997 Optimization and Feasibility Analysis of PV/Wind/ Battery Hybrid Energy Conversion
Authors: Doaa M. Atia, Faten H. Fahmy, Ninet M. Ahmed, Hassen T. Dorrah
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In this paper, the optimum design for renewable energy system powered an aquaculture pond was determined. Hybrid Optimization Model for Electric Renewable (HOMER) software program, which is developed by U.S National Renewable Energy Laboratory (NREL), is used for analyzing the feasibility of the stand alone and hybrid system in this study. HOMER program determines whether renewable energy resources satisfy hourly electric demand or not. The program calculates energy balance for every 8760 hours in a year to simulate operation of the system. This optimization compares the demand for the electrical energy for each hour of the year with the energy supplied by the system for that hour and calculates the relevant energy flow for each component in the model. The essential principle is to minimize the total system cost while HOMER ensures control of the system. Moreover the feasibility analysis of the energy system is also studied. Wind speed, solar irradiance, interest rate and capacity shortage are the parameters which are taken into consideration. The simulation results indicate that the hybrid system is the best choice in this study, yielding lower net present cost. Thus, it provides higher system performance than PV or wind stand alone systems.
Keywords: Wind stand-alone system, Photovoltaic stand-alone system, Hybrid system, Optimum system sizing, feasibility, Cost analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21161996 Seat Assignment Model for Student Admissions Process at Saudi Higher Education Institutions
Authors: Mohammed Salem Alzahrani
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In this paper, student admission process is studied to optimize the assignment of vacant seats with three main objectives. Utilizing all vacant seats, satisfying all programs of study admission requirements and maintaining fairness among all candidates are the three main objectives of the optimization model. Seat Assignment Method (SAM) is used to build the model and solve the optimization problem with help of Northwest Coroner Method and Least Cost Method. A closed formula is derived for applying the priority of assigning seat to candidate based on SAM.
Keywords: Admission Process Model, Assignment Problem, Hungarian Method, Least Cost Method, Northwest Corner Method, Seat Assignment Method (SAM).
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19771995 Removal of Polycyclic Aromatic Hydrocarbons Present in Tyre Pyrolytic Oil Using Low Cost Natural Adsorbents
Authors: Neha Budhwani
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Polycyclic aromatic hydrocarbons (PAHs) are formed during the pyrolysis of scrap tyres to produce tyre pyrolytic oil (TPO). Due to carcinogenic, mutagenic, and toxic properties PAHs are priority pollutants. Hence it is essential to remove PAHs from TPO before utilising TPO as a petroleum fuel alternative (to run the engine). Agricultural wastes have promising future to be utilized as biosorbent due to their cost effectiveness, abundant availability, high biosorption capacity and renewability. Various low cost adsorbents were prepared from natural sources. Uptake of PAHs present in tyre pyrolytic oil was investigated using various low-cost adsorbents of natural origin including sawdust (shisham), coconut fiber, neem bark, chitin, activated charcoal. Adsorption experiments of different PAHs viz. naphthalene, acenaphthalene, biphenyl and anthracene have been carried out at ambient temperature (25°C) and at pH 7. It was observed that for any given PAH, the adsorption capacity increases with the lignin content. Freundlich constant Kf and 1/n have been evaluated and it was found that the adsorption isotherms of PAHs were in agreement with a Freundlich model, while the uptake capacity of PAHs followed the order: activated charcoal> saw dust (shisham) > coconut fiber > chitin. The partition coefficients in acetone-water, and the adsorption constants at equilibrium, could be linearly correlated with octanol–water partition coefficients. It is observed that natural adsorbents are good alternative for PAHs removal. Sawdust of Dalbergia sissoo, a by-product of sawmills was found to be a promising adsorbent for the removal of PAHs present in TPO. It is observed that adsorbents studied were comparable to those of some conventional adsorbents.
Keywords: Acenaphthene, anthracene, biphenyl, Coconut fiber, naphthalene, natural adsorbent, PAHs, TPO and wood powder (shisham).
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 40531994 Optimal Placement of Capacitors for Achieve the Best Total Generation Cost by Genetic Algorithm
Authors: Mohammad Reza Tabatabaei, Mohammad Bagher Haddadi, Mojtaba Saeedimoghadam, Ali Vaseghi Ardekani
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Economic Dispatch (ED) is one of the most challenging problems of power system since it is difficult to determine the optimum generation scheduling to meet the particular load demand with the minimum fuel costs while all constraints are satisfied. The objective of the Economic Dispatch Problems (EDPs) of electric power generation is to schedule the committed generating units outputs so as to meet the required load demand at minimum operating cost while satisfying all units and system equality and inequality constraints. In this paper, an efficient and practical steady-state genetic algorithm (SSGAs) has been proposed for solving the economic dispatch problem. The objective is to minimize the total generation fuel cost and keep the power flows within the security limits. To achieve that, the present work is developed to determine the optimal location and size of capacitors in transmission power system where, the Participation Factor Algorithm and the Steady State Genetic Algorithm are proposed to select the best locations for the capacitors and determine the optimal size for them.
Keywords: Economic Dispatch, Lagrange, Capacitors Placement, Losses Reduction, Genetic Algorithm.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16721993 The Benefits of IFRS Adoption – A Survey of Chief Financial Officers of Romanian Listed Companies
Authors: Lucian Munteanu
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The move towards internationalization of accounting encountered a great boost, when in 2002 EU delegated the IASB to provide the accounting standards to be applied inside its frontiers. Among the incentives of the standardization of accounting on the international level, is the reduction of the cost of capital. Romania made the move towards IFRS before EU, when the country was not yet a member of it. Even if this made Romania a special case, it was scarcely approached. The leak of real data is usually the reason for avoiding. The novelty of this paper is that it offers an insight from the reality of Romanian companies and their view regarding the IFRS. The paper is based on a survey that the authors made among the companies listed on the first two tiers of the Bucharest Stock Exchange (BSE), which are basically, the most important companies in the country.
Keywords: Cost of capital, IFRS, information asymmetry, transparency.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26801992 Evaluation of a Remanufacturing for Lithium Ion Batteries from Electric Cars
Authors: Achim Kampker, Heiner H. Heimes, Mathias Ordung, Christoph Lienemann, Ansgar Hollah, Nemanja Sarovic
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Electric cars with their fast innovation cycles and their disruptive character offer a high degree of freedom regarding innovative design for remanufacturing. Remanufacturing increases not only the resource but also the economic efficiency by a prolonged product life time. The reduced power train wear of electric cars combined with high manufacturing costs for batteries allow new business models and even second life applications. Modular and intermountable designed battery packs enable the replacement of defective or outdated battery cells, allow additional cost savings and a prolongation of life time. This paper discusses opportunities for future remanufacturing value chains of electric cars and their battery components and how to address their potentials with elaborate designs. Based on a brief overview of implemented remanufacturing structures in different industries, opportunities of transferability are evaluated. In addition to an analysis of current and upcoming challenges, promising perspectives for a sustainable electric car circular economy enabled by design for remanufacturing are deduced. Two mathematical models describe the feasibility of pursuing a circular economy of lithium ion batteries and evaluate remanufacturing in terms of sustainability and economic efficiency. Taking into consideration not only labor and material cost but also capital costs for equipment and factory facilities to support the remanufacturing process, cost benefit analysis prognosticate that a remanufacturing battery can be produced more cost-efficiently. The ecological benefits were calculated on a broad database from different research projects which focus on the recycling, the second use and the assembly of lithium ion batteries. The results of this calculations show a significant improvement by remanufacturing in all relevant factors especially in the consumption of resources and greenhouse warming potential. Exemplarily suitable design guidelines for future remanufacturing lithium ion batteries, which consider modularity, interfaces and disassembly, are used to illustrate the findings. For one guideline, potential cost improvements were calculated and upcoming challenges are pointed out.
Keywords: Circular economy, electric mobility, lithium ion batteries, remanufacturing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 53911991 Optimal Type and Installation Time of Wind Farm in a Power System, Considering Service Providers
Authors: M. H. Abedi, A. Jalilvand
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The economic development benefits of wind energy may be the most tangible basis for the local and state officials’ interests. In addition to the direct salaries associated with building and operating wind projects, the wind energy industry provides indirect jobs and benefits. The optimal planning of a wind farm is one most important topic in renewable energy technology. Many methods have been implemented to optimize the cost and output benefit of wind farms, but the contribution of this paper is mentioning different types of service providers and also time of installation of wind turbines during planning horizon years. Genetic algorithm (GA) is used to optimize the problem. It is observed that an appropriate layout of wind farm can cause to minimize the different types of cost.Keywords: Renewable energy, wind farm, optimization, planning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11381990 Split-Pipe Design of Water Distribution Network Using Simulated Annealing
Authors: J. Tospornsampan, I. Kita, M. Ishii, Y. Kitamura
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In this paper a procedure for the split-pipe design of looped water distribution network based on the use of simulated annealing is proposed. Simulated annealing is a heuristic-based search algorithm, motivated by an analogy of physical annealing in solids. It is capable for solving the combinatorial optimization problem. In contrast to the split-pipe design that is derived from a continuous diameter design that has been implemented in conventional optimization techniques, the split-pipe design proposed in this paper is derived from a discrete diameter design where a set of pipe diameters is chosen directly from a specified set of commercial pipes. The optimality and feasibility of the solutions are found to be guaranteed by using the proposed method. The performance of the proposed procedure is demonstrated through solving the three well-known problems of water distribution network taken from the literature. Simulated annealing provides very promising solutions and the lowest-cost solutions are found for all of these test problems. The results obtained from these applications show that simulated annealing is able to handle a combinatorial optimization problem of the least cost design of water distribution network. The technique can be considered as an alternative tool for similar areas of research. Further applications and improvements of the technique are expected as well.Keywords: Combinatorial problem, Heuristics, Least-cost design, Looped network, Pipe network, Optimization
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26781989 Evaluation of PTFE Composites with Mineral Tailing Considering Friction, Wear and Cost
Authors: Antônio P. de Araújo Neto, Ruy D. A. da Silva Neto, Juliana R. de Souza, Salete K. P. de Medeiros, João T. N. de Medeiros
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The tribological test with Pin-On-Disc configuration measures friction and wear properties in dry or lubricated sliding surfaces of a variety of materials and coatings. Polymeric matrix composites loaded with mineral filler were used, 1%, 3%, 10%, 30%, and 50% mass percentage of filler, to reduce the material cost by using mineral tailings. Using a pin-on-disc tribometer to quantify coefficient of friction and wear resistance of the specimens. The parameters known to performing the test were 300 rpm rotation, normal load of 16N and duration of 33.5 minutes. The composite with 10% mineral filler performed better, considering that the wear resistance was good when compared to the other compositions and an average low coefficient of friction, in the order of μ ≤ 0.15.Keywords: Microcomposites, microparticles tailings of scheelite, PTFE, tribology.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15831988 Reduction of Power Losses in Distribution Systems
Authors: Y. Al-Mahroqi, I.A. Metwally, A. Al-Hinai, A. Al-Badi
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Losses reduction initiatives in distribution systems have been activated due to the increasing cost of supplying electricity, the shortage in fuel with ever-increasing cost to produce more power, and the global warming concerns. These initiatives have been introduced to the utilities in shape of incentives and penalties. Recently, the electricity distribution companies in Oman have been incentivized to reduce the distribution technical and non-technical losses with an equal annual reduction rate for 6 years. In this paper, different techniques for losses reduction in Mazoon Electricity Company (MZEC) are addressed. In this company, high numbers of substation and feeders were found to be non-compliant with the Distribution System Security Standard (DSSS). Therefore, 33 projects have been suggested to bring non-complying 29 substations and 28 feeders to meet the planed criteria and to comply with the DSSS. The largest part of MZEC-s network (South Batinah region) was modeled by ETAP software package. The model has been extended to implement the proposed projects and to examine their effects on losses reduction. Simulation results have shown that the implementation of these projects leads to a significant improvement in voltage profile, and reduction in the active and the reactive power losses. Finally, the economical analysis has revealed that the implementation of the proposed projects in MZEC leads to an annual saving of about US$ 5 million.Keywords: Losses Reduction, Technical Losses, Non-Technical Losses, Cost Analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 93701987 Teaching Students the Black Magic of Electromagnetic Compatibility
Authors: Dag A.H. Samuelsen, Olaf H. Graven
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Introducing Electromagnetic Interference and Electromagnetic Compatibility, or “The Art of Black Magic", for engineering students might be a terrifying experience both for students and tutors. Removing the obstacle of large, expensive facilities like a fully fitted EMC laboratory and hours of complex theory, this paper demonstrates a design of a laboratory setup for student exercises, giving students experience in the basics of EMC/EMI problems that may challenge the functionality and stability of embedded system designs. This is done using a simple laboratory installation and basic measurement equipment such as a medium cost digital storage oscilloscope, at the cost of not knowing the exact magnitude of the noise components, but rather if the noise is significant or not, as well as the source of the noise. A group of students have performed a trial exercise with good results and feedback.
Keywords: EMC, EMI, engineering project, student laboratory.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25951986 Small Satellite Modelling and Attitude Control Using Fuzzy Logic
Authors: Amirhossein Asadabadi, Amir Anvar
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Small satellites have become increasingly popular recently as a means of providing educational institutes with the chance to design, construct, and test their spacecraft from beginning to the possible launch due to the low launching cost. This approach is remarkably cost saving because of the weight and size reduction of such satellites. Weight reduction could be realised by utilising electromagnetic coils solely, instead of different types of actuators. This paper describes the restrictions of using only “Electromagnetic" actuation for 3D stabilisation and how to make the magnetorquer based attitude control feasible using Fuzzy Logic Control (FLC). The design is developed to stabilize the spacecraft against gravity gradient disturbances with a three-axis stabilizing capability.
Keywords: Fuzzy, Attitude Control, Small Satellite, Fuzzy Logic Control, Electromagnetic, Magnetic Control.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21151985 Scenarios for a Sustainable Energy Supply Results of a Case Study for Austria
Authors: Petra Wächter
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A comprehensive discussion of feasible strategies for sustainable energy supply is urgently needed to achieve a turnaround of the current energy situation. The necessary fundamentals required for the development of a long term energy vision are lacking to a great extent due to the absence of reasonable long term scenarios that fulfill the requirements of climate protection and sustainable energy use. The contribution of the study is based on a search for sustainable energy paths in the long run for Austria. The analysis makes use of secondary data predominantly. The measures developed to avoid CO2 emissions and other ecological risk factors vary to a great extent among all economic sectors. This is shown by the calculation of CO2 cost of abatement curves. In this study it is demonstrated that the most effective technical measures with the lowest CO2 abatement costs yield solutions to the current energy problems. Various scenarios are presented concerning the question how the technological and environmental options for a sustainable energy system for Austria could look like in the long run. It is shown how sustainable energy can be supplied even with today-s technological knowledge and options available. The scenarios developed include an evaluation of the economic costs and ecological impacts. The results are not only applicable to Austria but demonstrate feasible and cost efficient ways towards a sustainable future.
Keywords: Cost of CO2 Abatement, Energy Economics, Energy Efficiency, Renewable Energy Technologies, Sustainable Energy and Development.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16631984 The Politics of Foreign Direct Investment for Socio-Economic Development in Nigeria: An Assessment of the Fourth Republic Strategies (1999 - 2014)
Authors: Muritala Babatunde Hassan
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In the contemporary global political economy, foreign direct investment (FDI) is gaining currency on daily basis. Notably, the end of the Cold War has brought about the dominance of neoliberal ideology with its mantra of private-sector-led economy. As such, nation-states now see FDI attraction as an important element in their approach to national development. Governments and policy makers are preoccupying themselves with unraveling the best strategies to not only attract more FDI but also to attain the desired socio-economic development status. In Nigeria, the perceived development potentials of FDI have brought about aggressive hunt for foreign investors, most especially since transition to civilian rule in May 1999. Series of liberal and market oriented strategies are being adopted not only to attract foreign investors but largely to stimulate private sector participation in the economy. It is on this premise that this study interrogates the politics of FDI attraction for domestic development in Nigeria between 1999 and 2014, with the ultimate aim of examining the nexus between regime type and the ability of a state to attract and benefit from FDI. Building its analysis within the framework of institutional utilitarianism, the study posits that the essential FDI strategies for achieving the greatest happiness for the greatest number of Nigerians are political not economic. Both content analysis and descriptive survey methodology were employed in carrying out the study. Content analysis involves desk review of literatures that culminated in the development of the study’s conceptual and theoretical framework of analysis. The study finds no significant relationship between transition to democracy and FDI inflows in Nigeria, as most of the attracted investments during the period of the study were market and resource seeking as was the case during the military regime, thereby contributing minimally to the socio-economic development of the country. It is also found that the country placed much emphasis on liberalization and incentives for FDI attraction at the neglect of improving the domestic investment environment. Consequently, poor state of infrastructure, weak institutional capability and insecurity were identified as the major factors seriously hindering the success of Nigeria in exploiting FDI for domestic development. Given the reality of the currency of FDI as a vector of economic globalization and that Nigeria is trailing the line of private-sector-led approach to development, it is recommended that emphasis should be placed on those measures aimed at improving the infrastructural facilities, building solid institutional framework, enhancing skill and technological transfer and coordinating FDI promotion activities by different agencies and at different levels of government.
Keywords: Foreign capital, politics, socio-economic development, FDI attraction strategies, Redemocratization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9011983 Behavior of Engineering Students in Kuwait University
Authors: M. A. Al-Ajmi, R. S. Al-Kandari
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This initial study is concerned with the behavior of engineering students in Kuwait University which became a concern due to the global issues of education in all levels. A survey has been conducted to identify academic and societal issues affecting the engineering student performance. The study is drawing major conclusions with regard to private tutoring and the online availability of textbooks’ solution manuals.
Keywords: Solution manual, engineering, textbook, ethics.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17511982 Funding Innovative Activities in Firms: The Ownership Structure and Governance Linkage - Evidence from Mongolia
Authors: Ernest Nweke, Enkhtuya Bavuudorj
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The harsh realities of the scandalous failure of several notable corporations in the past two decades have inextricably resulted in a surge in corporate governance studies. Nevertheless, little or no attention has been paid to corporate governance studies in Mongolian firms and much less to the comprehension of the correlation among ownership structure, corporate governance mechanisms and trend of innovative activities. Innovation is the bed rock of enterprise success. However, the funding and support for innovative activities in many firms are to a great extent determined by the incentives provided by the firm’s internal and external governance mechanisms. Mongolia is an East Asian country currently undergoing a fast-paced transition from socialist to democratic system and it is a widely held view that private ownership as against public ownership fosters innovation. Hence, following the privatization policy of Mongolian Government which has led to the transfer of the ownership of hitherto state controlled and state directed firms to private individuals and organizations, expectations are high that sufficient motivation would be provided for firm managers to engage in innovative activities. This research focuses on the relationship between ownership structure, corporate governance on one hand and the level of innovation on the hand. The paper is empirical in nature and derives data from both reliable secondary and primary sources. Secondary data for the study was in respect of ownership structure of Mongolian listed firms and innovation trend in Mongolia generally. These were analyzed using tables, charts, bars and percentages. Personal interviews and surveys were held to collect primary data. Primary data was in respect of corporate governance practices in Mongolian firms and were collected using structured questionnaire. Out of a population of three hundred and twenty (320) companies listed on the Mongolian Stock Exchange (MSE), a sample size of thirty (30) randomly selected companies was utilized for the study. Five (5) management level employees were surveyed in each selected firm giving a total of one hundred and fifty (150) respondents. Data collected were analyzed and research hypotheses tested using Chi-Square test statistic. Research results showed that corporate governance mechanisms were better and have significantly improved overtime in privately held as opposed to publicly owned firms. Consequently, the levels of innovation in privately held firms were considerably higher. It was concluded that a significant and positive relationship exists between private ownership and good corporate governance on one hand and the level of funding provided for innovative activities in Mongolian firms on the other hand.
Keywords: Corporate governance, innovation, ownership structure, stock exchange.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17551981 Application of Particle Swarm Optimization for Economic Load Dispatch and Loss Reduction
Authors: N. Phanthuna, J. Jaturacherdchaiskul, S. Lerdvanittip, S. Auchariyamet
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This paper proposes a particle swarm optimization (PSO) technique to solve the economic load dispatch (ELD) problems. For the ELD problem in this work, the objective function is to minimize the total fuel cost of all generator units for a given daily load pattern while the main constraints are power balance and generation output of each units. Case study in the test system of 40-generation units with 6 load patterns is presented to demonstrate the performance of PSO in solving the ELD problem. It can be seen that the optimal solution given by PSO provides the minimum total cost of generation while satisfying all the constraints and benefiting greatly from saving in power loss reduction.
Keywords: Particle Swarm Optimization, Economic Load Dispatch, Loss Reduction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18991980 Assessing the Effects of Explosion Waves on Office and Residential Buildings
Authors: Mehran Pourgholi , Amin Lotfi Eghlim
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Explosions may cause intensive damage to buildings and sometimes lead to total and progressive destruction. Pressures induced by explosions are one of the most destructive loads a structure may experience. While designing structures for great explosions may be expensive and impractical, engineers are looking for methods for preventing destructions resulted from explosions. A favorable structural system is a system which does not disrupt totally due to local explosion, since such structures sustain less loss in comparison with structural ones which really bear the load and suddenly disrupt. Designing and establishing vital and necessary installations in a way that it is resistant against direct hit of bomb and rocket is not practical, economical, or expedient in many cases, because the cost of construction and installation with such specifications is several times more than the total cost of the related equipment.Keywords: Explosion Waves, explosion load, Office, Residential Buildings
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16641979 How Do Politicians Recover Their Costs? The Political Economy of Representative Democracy in India
Authors: Subramaniam Chandran
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This paper explores the features of political economy in the dynamics of representative politics in India. Politics is seen as enhancing economic benefits through acquiring and maintenance of power in the realm of democratic set up. The system of representation is riddled with competitive populism. Emerging leaders and parties are forced to accommodate their ideologies in coping with competitive politics. Electoral politics and voting behaviour reflect series of influences mooted by the politicians. Voters are accustomed to expect benefits outs of state exchequer. The electoral competitors show a changing phase of investment and return policy. Every elector has to spend and realize his costs in his tenure. In the case of defeated electors, even the cost recovery is not possible directly; there are indirect means to recover their costs. The series of case studies show the method of party funding, campaign financing, electoral expenditure, and cost recovery. Regulations could not restrict the level of spending. Several cases of disproportionate accumulation of wealth by the politicians reveal that money played a major part in electoral process. The political economy of representative politics hitherto ignores how a politician spends and recovers his cost and multiples his wealth. To be sure, the acquiring and maintenance of power is to enhance the wealth of the electors.
Keywords: Political economy, representative politics, costrecovery, electoral politics
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15511978 Resource Leveling Optimization in Construction Projects of High Voltage Substations Using Nature-Inspired Intelligent Evolutionary Algorithms
Authors: Dimitrios Ntardas, Alexandros Tzanetos, Georgios Dounias
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High Voltage Substations (HVS) are the intermediate step between production of power and successfully transmitting it to clients, making them one of the most important checkpoints in power grids. Nowadays - renewable resources and consequently distributed generation are growing fast, the construction of HVS is of high importance both in terms of quality and time completion so that new energy producers can quickly and safely intergrade in power grids. The resources needed, such as machines and workers, should be carefully allocated so that the construction of a HVS is completed on time, with the lowest possible cost (e.g. not spending additional cost that were not taken into consideration, because of project delays), but in the highest quality. In addition, there are milestones and several checkpoints to be precisely achieved during construction to ensure the cost and timeline control and to ensure that the percentage of governmental funding will be granted. The management of such a demanding project is a NP-hard problem that consists of prerequisite constraints and resource limits for each task of the project. In this work, a hybrid meta-heuristic method is implemented to solve this problem. Meta-heuristics have been proven to be quite useful when dealing with high-dimensional constraint optimization problems. Hybridization of them results in boost of their performance.
Keywords: High voltage substations, nature-inspired algorithms, project management, meta-heuristics.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12171977 The Cost and Benefit on the Investment in Safety and Health of the Enterprises in Thailand
Authors: Charawee Butbumrung
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The purpose of this study is to evaluate the monetary worthiness of investment and the usefulness of risk estimation as a tool employed by a production section of an electronic factory. This study employed the case study of accidents occurring in production areas. Data is collected from interviews with six production of safety coordinators and collect the information from the relevant section. The study will present the ratio of benefits compared with the operation costs for investment. The result showed that it is worthwhile for investment with the safety measures. In addition, the organizations must be able to analyze the causes of accidents about the benefits of investing in protective working process. They also need to quickly provide the manual for the staff to learn how to protect themselves from accidents and how to use all of the safety equipment.
Keywords: Cost and benefit, enterprises in Thailand, investment in safety and health, risk estimation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7821976 A Computational Cost-Effective Clustering Algorithm in Multidimensional Space Using the Manhattan Metric: Application to the Global Terrorism Database
Authors: Semeh Ben Salem, Sami Naouali, Moetez Sallami
Abstract:
The increasing amount of collected data has limited the performance of the current analyzing algorithms. Thus, developing new cost-effective algorithms in terms of complexity, scalability, and accuracy raised significant interests. In this paper, a modified effective k-means based algorithm is developed and experimented. The new algorithm aims to reduce the computational load without significantly affecting the quality of the clusterings. The algorithm uses the City Block distance and a new stop criterion to guarantee the convergence. Conducted experiments on a real data set show its high performance when compared with the original k-means version.
Keywords: Pattern recognition, partitional clustering, K-means clustering, Manhattan distance, terrorism data analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13591975 Indirect Solar Desalination: Value Engineering and Cost Benefit Analysis
Authors: Grace Rachid, Mutasem El-Fadel, Mahmoud Al-Hindi, Ibrahim Jamali, Daniel Abdel Nour
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This study examines the feasibility of indirect solar desalination in oil producing countries in the Middle East and North Africa (MENA) region. It relies on value engineering (VE) and costbenefit with sensitivity analyses to identify optimal coupling configurations of desalination and solar energy technologies. A comparative return on investment was assessed as a function of water costs for varied plant capacities (25,000 to 75,000 m3/day), project lifetimes (15 to 25 years), and discount rates (5 to 15%) taking into consideration water and energy subsidies, land cost as well as environmental externalities in the form of carbon credit related to greenhouse gas (GHG) emissions reduction. The results showed reverse osmosis (RO) coupled with photovoltaic technologies (PVs) as the most promising configuration, robust across different prices for Brent oil, discount rates, as well as different project lifetimes. Environmental externalities and subsidies analysis revealed that a 16% reduction in existing subsidy on water tariffs would ensure economic viability. Additionally, while land costs affect investment attractiveness, the viability of RO coupled with PV remains possible for a land purchase cost <$ 80/m2 or a lease rate <$1/m2/yr. Beyond those rates, further subsidy lifting is required.Keywords: Solar energy, desalination, value engineering, CBA, carbon credit, subsidies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25941974 Integrating Process Planning and Scheduling for Prismatic Parts Regard to Due Date
Authors: M. Haddadzade, M. R. Razfar, M. Farahnakian
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Integration of process planning and scheduling functions is necessary to achieve superior overall system performance. This paper proposes a methodology for integration of process planning and scheduling for prismatic component that can be implemented in a company with existing departments. The developed model considers technological constraints whereas available time for machining in shop floor is the limiting factor to produce multiple process plan (MPP). It takes advantage of MPP while guarantied the fulfillment of the due dates via using overtime. This study has been proposed to determinate machining parameters, tools, machine and amount of over time within the minimum cost objective while overtime is considered for this. At last the illustration shows that the system performance is improved by as measured by cost and compatible with due date.Keywords: Due date, Integration, Multiple process plan, Process planning, Scheduling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1637