Search results for: Investment Projects.

Authors: Thandokazi Nyangiwe, Christopher Amoah, Charles P. Mukumba

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The South African construction sector is threatened by emerging black business forums called construction mafias. The emergence of the construction mafia has culminated in the disruptions and abandonment of construction sites resulting in the loss of jobs for construction workers. The paper examines the origin of construction mafias and their impact on the construction sector, including the potential ways to cope with their operations. A qualitative research approach was adopted for this study using open-ended interview questions to gather information from 30 key construction industry stakeholders, including contractors, subcontractors, consultants, and the construction project communities. Content and thematic analyses were used to analyses the data collected. The findings suggest that most participants do not fully understand the existence and operations of construction mafias in the construction industry. Construction mafias claim to be part of the local business forums. They disrupt construction projects and demand a certain amount, usually 30% of the construction value. Construction mafias frequently resort to intimidation and violence if their demands are unmet. Their operations have resulted in delayed completion of construction projects, abandonment of projects, and loss of income for the contractor and jobs for the construction workers. The interviews were limited to construction stakeholders. Because of the nature of the mafias’ operations, they could not be accessed for interviews for fear of being identified because of the connotation attached to their role as construction mafias. Construction project owners face disruptions of projects resulting in loss of equipment, materials, and income. Therefore, there is a need to sensitize the construction stakeholders in the construction industry regarding the existence and operations of the construction mafia and the implications on construction project performance and delivery. The findings will give insight into the operations of the construction mafias in the South African construction industry, which has caused disruptions in construction project sites. Stakeholders must find solutions to address the construction mafias’ disruptive actions on construction projects. The study presents an initial inquiry that will come up with how to manage and cope with the growing operations of construction mafias in the South African construction industry.

Keywords: Black business forums, construction mafia, South African construction industry.

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Authors: Hernán G. Cortés-Mora, José I. Péna-Reyes, Alfonso Herrera-Jiménez

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This article describes the implementation experience of Project-Based Learning (PBL) in an engineering course of the Universidad Nacional de Colombia, with the aim of strengthening student skills necessary for the exercise of their profession under a sustainability framework. Firstly, we present a literature review on the education for sustainability field, emphasizing the skills and knowledge areas required for its development, as well as the commitment of the Faculty of Engineering of the Universidad Nacional de Colombia, and other engineering faculties of the country, regarding education for sustainability. This article covers the general aspects of the course, describes how students team were formed, and how their experience was during the first semester of 2017. During this period two groups of students decided to develop their course project aiming to solve a problem regarding a Non-Governmental Organization (NGO) that works with head-of-household mothers in a low-income neighborhood in Bogota (Colombia). Subsequently, we show how sustainability is involved in the course, how tools are provided to students, and how activities are developed as to strengthen their abilities, which allows them to incorporate sustainability in their projects while also working on the methodology used to develop said projects. Finally, we introduce the results obtained by the students who sent the prototypes of their projects to the community they were working on and the conclusions reached by them regarding the course experience.

Keywords: Sustainability, project based learning, engineering education, higher education for sustainability.

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Authors: Muhibul Haque Bhuyan

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Inclusion of any design project in an undergraduate electrical and electronic engineering curriculum and producing creative ideas in the final year capstone design projects have received numerous comments at the Board of Accreditation for Engineering and Technical Education (BAETE) several times by the mentors and visiting program evaluator team members at different public and private universities in Bangladesh. To eradicate this deficiency which is needed for getting the program accreditation, a thorough change was required in the Department of Electrical and Electronic Engineering (EEE) for its BSc in EEE program at Southeast University, Dhaka, Bangladesh. We suggested making changes in the course curriculum titles and contents, emphasizing to include capstone design projects, question setting, examining students through other standard methods, selecting and retaining Outcome-Based Education (OBE)-oriented engineering faculty members, improving laboratories through purchasing new equipment and software as well as developing new experiments for each laboratory courses, and engaging the students to practical designs in various courses and final year projects. This paper reports on capstone design project course objectives, course outcomes, mapping with the program outcomes, cognitive domain of learning, assessment schemes, guidelines, suggestions and recommendations for supervision processes, assessment strategy, and rubric setting, etc. It is expected that this will substantially improve the capstone design projects offering, supervision, and assessment in the undergraduate EEE program to fulfill the arduous requirements of BAETE accreditation based on OBE.

Keywords: Course outcome, capstone design project, assessment and evaluation, electrical and electronic engineering.

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Authors: Liming Chen, Baoxin Xiu, Zhaoyun Ding, Bin Liu, Xianqiang Zhu

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In the era of big data, public investors are faced with more complicated information related to investment decisions than ever before. To survive in the fierce competition, it has become increasingly urgent for investors to combine multi-source knowledge and evaluate the companies’ true value efficiently. For this, a rule-based ontology reasoning method is proposed to support steel companies’ value assessment. Considering the delay in financial disclosure and based on cost-benefit analysis, this paper introduces the supply chain enterprises financial analysis and constructs the ontology model used to value the value of steel company. In addition, domain knowledge is formally expressed with the help of Web Ontology Language (OWL) language and SWRL (Semantic Web Rule Language) rules. Finally, a case study on a steel company in China proved the effectiveness of the method we proposed.

Keywords: Financial ontology, steel company, supply chain, ontology reasoning.

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Authors: Armando Cartenì, Ilaria Henke

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Recently, the Italian government has approved a new law for public contracts and has been laying the groundwork for restarting a planning phase. The government has adopted the indications given by the European Commission regarding the estimation of the external costs within the Cost-Benefit Analysis, and has been approved the ‘Guidelines for assessment of Investment Projects’. In compliance with the new Italian law, the aim of this research was to perform a feasibility study applying quantitative methods regarding the revamping of an Italian tourist railway line. A Cost-Benefit Analysis was performed starting from the quantification of the passengers’ demand potentially interested in using the revamped rail services. The benefits due to the external costs reduction were also estimated (quantified) in terms of variations (with respect to the not project scenario): climate change, air pollution, noises, congestion, and accidents. Estimations results have been proposed in terms of the Measure of Effectiveness underlying a positive Net Present Value equal to about 27 million of Euros, an Internal Rate of Return much greater the discount rate, a benefit/cost ratio equal to 2 and a PayBack Period of 15 years.

Keywords: Cost-benefit analysis, evaluation analysis, demand management, external cost, transport planning, quality.

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Authors: Sara Najiazarpour, Mahsa Najiazarpour

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There are many problems in contracting projects and their performance. At each project stage and due to different reasons, these problems affect cost, time, and quality. Hence, in order to increase the efficiency and performance in all levels of the chain and with supply chain management approach, there will be a coordination from the beginning of a project to the end of project (handover of project). Contractor selection is the foremost part of construction projects which in this multi-criteria decision-making, the best contractor is determined by expert judgment, different variables, and their priorities. In this paper for selecting the best contractor, numerous criteria were collected by asking from adept experts and then among them, 16 criteria with highest frequency were considered for questionnaire. This questionnaire was distributed between experts. Cronbach's alpha coefficient was used and then based on Borda function important criteria were selected which was categorized in four main criteria as follows: Environmental factors and physical equipment, past performance and technical expertise, affordability and standards. Then with PROMTHEE method, the criteria were normalized and monitored, finally the best alternative was selected. A case study had been done, and the best contractor was selected based on all criteria and their priorities.

Keywords: Evaluation and selecting contractors, project development, supply chain management, multi-criteria decision-making.

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Authors: Byung-Kon Kim

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According as the Architecture, Engineering and Construction (AEC) Industry projects have grown more complex and larger, the number of utilization of BIM for 3D design and simulation is increasing significantly. Therefore, typical applications of BIM such as clash detection and alternative measures based on 3-dimenstional planning are expanded to process management, cost and quantity management, structural analysis, check for regulation, and various domains for virtual design and construction. Presently, commercial BIM software is operated on single-user environment, so initial cost is so high and the investment may be wasted frequently. Cloud computing that is a next-generation internet technology enables simple internet devices (such as PC, Tablet, Smart phone etc) to use services and resources of BIM software. In this paper, we suggested developing method of the BIM software based on cloud computing environment in order to expand utilization of BIM and reduce cost of BIM software. First, for the benchmarking, we surveyed successful case of BIM and cloud computing. And we analyzed needs and opportunities of BIM and cloud computing in AEC Industry. Finally, we suggested main functions of BIM software based on cloud computing environment and developed a simple prototype of cloud computing BIM software for basic BIM model viewing.

Keywords: Construction IT, BIM(Building Information Modeling), Cloud Computing, BIM Service Based Cloud Computing, Viewer Based BIM Server, 3D Design.

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Authors: Ivan C. Mustakerov, Daniela I. Borissova

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The paper proposes an approach to ranking a set of potential countries to invest taking into account the investor point of view about importance of different economic indicators. For the goal, a ranking algorithm that contributes to rational decision making is proposed. The described algorithm is based on combinatorial optimization modeling and repeated multi-criteria tasks solution. The final result is list of countries ranked in respect of investor preferences about importance of economic indicators for investment attractiveness. Different scenarios are simulated conforming to different investors preferences. A numerical example with real dataset of indicators is solved. The numerical testing shows the applicability of the described algorithm. The proposed approach can be used with any sets of indicators as ranking criteria reflecting different points of view of investors. 

Keywords: Combinatorial optimization modeling, economics investment attractiveness, economics ranking algorithm, multi-criteria problems.

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Authors: Venus Marza, Amin Seyyedi, Luiz Fernando Capretz

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Software estimation accuracy is among the greatest challenges for software developers. This study aimed at building and evaluating a neuro-fuzzy model to estimate software projects development time. The forty-one modules developed from ten programs were used as dataset. Our proposed approach is compared with fuzzy logic and neural network model and Results show that the value of MMRE (Mean of Magnitude of Relative Error) applying neuro-fuzzy was substantially lower than MMRE applying fuzzy logic and neural network.

Keywords: Artificial Neural Network, Fuzzy Logic, Neuro-Fuzzy, Software Estimation

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Authors: K. Balamurugan, V. Dharmalingam, R. Muralisachithanandam, R. Sankaran

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This paper deals with the optimal choice and location of FACTS devices in deregulated power systems using Differential Evolution algorithm. The main objective of this paper is to achieve the power system economic generation allocation and dispatch in deregulated electricity market. Using the proposed method, the locations of the FACTS devices, their types and ratings are optimized simultaneously. Different kinds of FACTS devices such as TCSC and SVC are simulated in this study. Furthermore, their investment costs are also considered. Simulation results validate the capability of this new approach in minimizing the overall system cost function, which includes the investment costs of the FACTS devices and the bid offers of the market participants. The proposed algorithm is an effective and practical method for the choice and location of suitable FACTS devices in deregulated electricity market.

Keywords: FACTS Devices, Deregulated Electricity Market, Optimal Location, Differential Evolution, Mat Lab.

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Authors: H. Shayeghi, M. Mahdavi

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Transmission network expansion planning (TNEP) is a basic part of power system planning that determines where, when and how many new transmission lines should be added to the network. Up till now, various methods have been presented to solve the static transmission network expansion planning (STNEP) problem. But in all of these methods, lines adequacy rate has not been considered at the end of planning horizon, i.e., expanded network misses adequacy after some times and needs to be expanded again. In this paper, expansion planning has been implemented by merging lines loading parameter in the STNEP and inserting investment cost into the fitness function constraints using genetic algorithm. Expanded network will possess a maximum adequacy to provide load demand and also the transmission lines overloaded later. Finally, adequacy index could be defined and used to compare some designs that have different investment costs and adequacy rates. In this paper, the proposed idea has been tested on the Garvers network. The results show that the network will possess maximum efficiency economically.

Keywords: Adequacy Optimization, Transmission Expansion Planning, DCGA.

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Authors: R. Sammoura

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In Lebanon, public construction projects are awarded to the contractor submitting the lowest bid price based on a competitive bidding process. The contractor has to make a strategic decision in choosing the appropriate bid price that will offer a satisfactory profit with a greater probability to win. A simulation model for bid price decision making based on the lowest bid price evaluation is developed. The model, built using Crystal Ball decisionengineering software, considers two main factors affecting the bidding process: the number of qualified bidders and the size of the project. The validity of the model is tested on twelve separate projects. The study also shows how to use the model to conduct risk analysis and help any specific contractor to decide on his bid price with associated certainty level in a scientific method.

Keywords: Bid price, Competition, Decision making, Simulation.

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Authors: Atefeh Pourshafie, Mohsen. Saniei, S. S. Mortazavi, A. Saeedian

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In this paper optimal capacitor placement problem has been formulated in a restructured distribution network. In this scenario the distribution network operator can consider reactive energy also as a service that can be sold to transmission system. Thus search for optimal location, size and number of capacitor banks with the objective of loss reduction, maximum income from selling reactive energy to transmission system and return on investment for capacitors, has been performed. Results is influenced with economic value of reactive energy, therefore problem has been solved for various amounts of it. The implemented optimization technique is genetic algorithm. For any value of reactive power economic value, when reverse of investment index increase and change from zero or negative values to positive values, the threshold value of selling reactive power has been obtained. This increasing price of economic parameter is reasonable until the network losses is less than loss before compensation.

Keywords: capacitor placement, deregulated electric market, distribution network optimization.

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Authors: Piotr Prewysz-Kwinto

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A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: Exchange traded products, financial market, investment, stock exchange.

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Authors: Obaid AlOtaibi, Salman Hussain

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Wind energy is associated with many geographical factors including wind speed, climate change, surface topography, environmental impacts, and several economic factors, most notably the advancement of wind technology and energy prices. It is the fastest-growing and least economically expensive method for generating electricity. Wind energy generation is directly related to the characteristics of spatial wind. Therefore, the feasibility study for the wind energy conversion system is based on the value of the energy obtained relative to the initial investment and the cost of operation and maintenance. In Kuwait, wind energy is an appropriate choice as a source of energy generation. It can be used in groundwater extraction in agricultural areas such as Al-Abdali in the north and Al-Wafra in the south, or in fresh and brackish groundwater fields or remote and isolated locations such as border areas and projects away from conventional power electricity services, to take advantage of alternative energy, reduce pollutants, and reduce energy production costs. The study covers the State of Kuwait with an exception of metropolitan area. Climatic data were attained through the readings of eight distributed monitoring stations affiliated with Kuwait Institute for Scientific Research (KISR). The data were used to assess the daily, monthly, quarterly, and annual available wind energy accessible for utilization. The researchers applied the Suitability Model to analyze the study by using the ArcGIS program. It is a model of spatial analysis that compares more than one location based on grading weights to choose the most suitable one. The study criteria are: the average annual wind speed, land use, topography of land, distance from the main road networks, urban areas. According to the previous criteria, the four proposed locations to establish wind farm projects are selected based on the weights of the degree of suitability (excellent, good, average, and poor). The percentage of areas that represents the most suitable locations with an excellent rank (4) is 8% of Kuwait’s area. It is relatively distributed as follows: Al-Shqaya, Al-Dabdeba, Al-Salmi (5.22%), Al-Abdali (1.22%), Umm al-Hayman (0.70%), North Wafra and Al-Shaqeeq (0.86%). The study recommends to decision-makers to consider the proposed location (No.1), (Al-Shqaya, Al-Dabdaba, and Al-Salmi) as the most suitable location for future development of wind farms in Kuwait, this location is economically feasible.

Keywords: Kuwait, renewable energy, spatial analysis, wind energy.

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Authors: Sirirat Taneerananon

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This paper presents the results of a study of the ultra-poor in the south of Thailand, revisited after 10 years since the original study in 2000. The original study was conducted in four provinces. The first two namely Phatthalung and Nakorn were chosen to represent the Thai Buddhists and the others, Satun and Pattani were chosen to represent the Thai Muslims. For this study, only the results from the three provinces except Pattani are reported as it was difficult and dangerous to conduct fieldwork in Pattani due to the continued unrest in the area since 2005.

The objectives of the study are to find out the changes of the poverty situation after 10 years and to see the impacts of the poverty reduction projects implemented by the government on the poor. The research methodology used both quantitative and qualitative methods. The same villages in the four provinces studied in 1999 were again chosen. In each village, five ultra-poor people and heads of the villages were interviewed. The results show that the poverty situation of the ultra-poor groups has not changed much since they lacked the basic key factor to get themselves out of poverty: The ownership of land. Their chronic poverty situation has been passed on from the last generation. In the province of Phatthalung, the ultra-poor have improved in terms of economic situation because of the big increase in the price of rubber. However, the same could not be said for other provinces. Even though the government’s projects have not reduced the poverty directly, the projects have significantly contributed to the improvement of the quality of life of the poor and the people in the areas. 

Keywords: Poverty, Southern Thailand, Ultra-poor.

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Authors: Sajith Sajeev

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The application of Computational Fluid Dynamics (CFD) is widespread in engineering and industry, including aerospace, automotive, and energy. CFD simulations necessitate the use of intricate mathematical models and a substantial amount of computational power to accurately describe the behavior of fluids. The implementation of CFD projects can be difficult, and a well-structured approach to project management is required to assure the timely and cost-effective delivery of high-quality results. This paper's objective is to provide an overview of project management in CFD, including its problems, methodologies, and best practices. The study opens with a discussion of the difficulties connected with CFD project management, such as the complexity of the mathematical models, the need for extensive computational resources, and the difficulties associated with validating and verifying the results. In addition, the study examines the project management methodologies typically employed in CFD, such as the Traditional/Waterfall model, Agile and Scrum. Comparisons are made between the advantages and disadvantages of each technique, and suggestions are made for their effective implementation in CFD projects. The study concludes with a discussion of the best practices for project management in CFD, including the utilization of a well-defined project scope, a clear project plan, and effective teamwork. In addition, it highlights the significance of continuous process improvement and the utilization of metrics to monitor progress and discover improvement opportunities. This article is a resource for project managers, researchers, and practitioners in the field of CFD. It can aid in enhancing project outcomes, reducing risks, and enhancing the productivity of CFD projects. This paper provides a complete overview of project management in CFD and is a great resource for individuals who wish to implement efficient project management methods in CFD projects.

Keywords: Project management, Computational Fluid Dynamics, Traditional/Waterfall methodology, agile methodology, scrum methodology.

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Authors: Sunaitan Al Mutairi

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A perfect start is a key factor for project completion on time. The study examined the effects of delayed mobilization of resources during the initial phases of the project. This paper mainly highlights the identification and categorization of all delays during the initial construction phase and their root cause analysis with corrective/control measures for the Kuwait Oil Company oil and gas projects. A relatively good percentage of the delays identified during the project execution (Contract award to end of defects liability period) attributed to mobilization/preliminary activity delays. Data analysis demonstrated significant increase in average project delay during the last five years compared to the previous period. Contractors had delays/issues during the initial phase, which resulted in slippages and progressively increased, resulting in time and cost overrun. Delays/issues not mitigated on time during the initial phase had very high impact on project completion. Data analysis of the delays for the past five years was carried out using trend chart, scatter plot, process map, box plot, relative importance index and Pareto chart. Construction of any project inside the Gathering Centers involves complex management skills related to work force, materials, plant, machineries, new technologies etc. Delay affects completion of projects and compromises quality, schedule and budget of project deliverables. Works executed as per plan during the initial phase and start-up duration of the project construction activities resulted in minor slippages/delays in project completion. In addition, there was a good working environment between client and contractor resulting in better project execution and management. Mainly, the contractor was on the front foot in the execution of projects, which had minimum/no delays during the initial and construction period. Hence, having a perfect start during the initial construction phase shall have a positive influence on the project success. Our research paper studies each type of delay with some real example supported by statistic results and suggests mitigation measures. Detailed analysis carried out with all stakeholders based on impact and occurrence of delays to have a practical and effective outcome to mitigate the delays. The key to improvement is to have proper control measures and periodic evaluation/audit to ensure implementation of the mitigation measures. The focus of this research is to reduce the delays encountered during the initial construction phase of the project life cycle.

Keywords: Construction activities delays, delay analysis for construction projects, mobilization delays, oil and gas projects delays.

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Authors: Ho-Jun Jo, Wook-Won Kim, Yong-Sung Kim, Jin-O Kim

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The application of ESS (Energy Storage Systems) in the future grids has been the solution of the microgrid. However, high investment costs necessitate accurate modeling and control strategy of ESS to justify its economic viability and further underutilization. Therefore, the reasonable control strategy for ESS which is subjected to generator and usage helps to curtail the cost of investment and operation costs. The rated frequency in power system is decreased when the load is increasing unexpectedly; hence the thermal power is operated at the capacity of only its 95% for the Governor Free (GF) to adjust the frequency as reserve (5%) in practice. The ESS can be utilized with governor at the same time for the frequency response due to characteristic of its fast response speed and moreover, the cost of ESS is declined rapidly to the reasonable price. This paper presents the ESS control strategy to extend usage of the ESS taken account into governor’s ramp rate and reduce the governor’s intervention as well. All results in this paper are simulated by MATLAB.

Keywords: Micro grid, energy storage systems, ramp rate, control strategy.

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Authors: Kevin. S. Badni

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Due to the rapid advances in the use of information technology and students’ familiarity with technology, learning styles in higher education are being reshaped. One of the technology developments that has gained considerable attention in recent years is Augmented Reality (AR), where technology is used to combine overlays of digital data on physical real-world settings. While AR is being heavily promoted for entertainment by mobile phone manufacturers, it has had little adoption in higher education due to the required upfront investment that an instructor needs to undertake in creating relevant AR applications. This paper discusses a case study that uses a low upfront development approach and examines the impact on generation-Z students’ motivation whilst studying design history over a four-semester period. Even though the upfront investment in creating the AR support was minimal, the results showed a noticeable increase in student motivation. The approach used in this paper can be easily transferred to other disciplines and other areas of design education.

Keywords: Augmented reality, history, motivation, technology.

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Authors: Hasan Taştan, Ayşen Ciravoğlu

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The rapid growth of the human population and the environmental degradation associated with increased consumption of resources raises concerns on sustainability. Social sustainability constitutes one of the three dimensions of sustainability together with environmental and economic dimensions. Even though there is not an agreement on what social sustainability consists of, it is a well known fact that it necessitates user participation. The fore, this study aims to observe and analyze the role of user participation on social sustainability. In this paper, the links between user participation and indicators of social sustainability have been searched. In order to achieve this, first of all a literature review on social sustainability has been done; accordingly, the information obtained from researches has been used in the evaluation of the projects conducted in the developing countries considering user participation. These examples are taken as role models with pros and cons for the development of the checklist for the evaluation of the case studies. Furthermore, a case study over the post earthquake residential settlements in Turkey have been conducted. The case study projects are selected considering different building scales (differing number of residential units), scale of the problem (post-earthquake settlements, rehabilitation of shanty dwellings) and the variety of users (differing socio-economic dimensions). Decisionmaking, design, building and usage processes of the selected projects and actors of these processes have been investigated in the context of social sustainability. The cases include: New Gourna Village by Hassan Fathy, Quinta Monroy dwelling units conducted in Chile by Alejandro Aravena and Beyköy and Beriköy projects in Turkey aiming to solve the problem of housing which have appeared after the earthquake happened in 1999 have been investigated. Results of the study possible links between social sustainability indicators and user participation and links between user participation and the peculiarities of place. Results are compared and discussed in order to find possible solutions to form social sustainability through user participation. Results show that social sustainability issues depend on communities' characteristics, socio-economic conditions and user profile but user participation has positive effects on some social sustainability indicators like user satisfaction, a sense of belonging and social stability.

Keywords: Housing projects, Residential areas, Social sustainability, User participation.

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Authors: Norma Rodrigues Gomes

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This paper presents initiatives of Knowledge Management (KM) applied to Forensic Sciences field, especially developed at the Forensic Science Institute of the Brazilian Federal Police. Successful projects, related to knowledge sharing, drugs analysis and environmental crimes, are reported in the KM perspective. The described results are related to: a) the importance of having an information repository, like a digital library, in such a multidisciplinary organization; b) the fight against drug dealing and environmental crimes, enabling the possibility to map the evolution of crimes, drug trafficking flows, and the advance of deforestation in Amazon rain forest. Perspectives of new KM projects under development and studies are also presented, tracing an evolution line of the KM view at the Forensic Science Institute.

Keywords: Business Intelligence, Digital Library, Forensic Science, Knowledge Management

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Authors: Torsti Rantapuska, Sariseelia Sore

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Acquiring commercial off-the-shelf (COTS) software applications is becoming routine in organizations. However, eliciting user requirements, finding the candidate COTS products and making the decision is a complex task, especially for SMEs who do not have the time and knowledge needed to do the task properly. The existing models intended to help the decision makers are originally designed for professional use. SMEs are obligated to rely on the software vendor’s ability to solve the problem with the systems provided.  In this paper, we develop a model for SMEs for the acquisition of Commercial Off-The-Shelf (COTS) software products. A leading idea of the model is that the ICT investment is basically a change initiative and therefore it should also be taken as a process of organizational learning. The model is designed bearing three objectives in mind: 1) business orientation, 2) agility, and 3) Learning and knowledge management orientation. The model can be applied to ICT investments in SMEs which have a professional team leader with basic business and IT knowledge. 

 

Keywords: COTS acquisition, ICT investment, organizational learning, ICT adoption.

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Authors: Frantisek Bozek, Pavel Budinsky, Ignac Hoza, Alexandr Bozek, Magdalena Naplavova

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A cleaner production project was implemented in a bakery. The project is based on the substitution of the best available technique for an obsolete leaven production technology. The new technology enables production of durable, high-quality leavens. Moreover, 25% of flour as the original raw material can be replaced by pastry from the previous day production which has not been sold. That pastry was previously disposed in a waste incineration plant. Besides the environmental benefits resulting from less waste, lower consumption of energy, reduction of sewage waters quantity and floury dustiness there are also significant economic benefits. Payback period of investment was calculated with help of static method of financial analysis about 2.6 years, using dynamic method 3.5 years and an internal rate of return more than 29%. The supposed annual average profit after taxationin the second year of operation was incompliance with the real profit.

Keywords: Bakery, best available technology, cleaner production, costs, economic benefit, efficiency, energy, environmental benefit, investment, savings.

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Authors: L. Horňák

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The aim of the paper is to analyze a longstanding problem in Slovakia – the effective education of Roma students coming from socially disadvantaged backgrounds. Although it is a relatively small country, there are over 630 communities in the Slovak Republic. The efficiency of the projects was verified by interviews with participants; questionnaires; and direct observations. Evaluation reports which summarized and evaluated the outcomes of the projects only confirmed their success. Slovakia realizes that appropriate social inclusion of marginalized citizens coming from the Roma ethnic group can only be achieved through education based on equality of all students and acceptance of diversity.

Keywords: Inclusive education, marginalized communities, Roma student, equality in education, socially disadvantaged backgrounds, social inclusion.

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Authors: J. Šejnoha, D. Jarušková, O. Špačková, E. Novotná

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Construction of tunnels is connected with high uncertainty in the field of costs, construction period, safety and impact on surroundings. Risk management became therefore a common part of tunnel projects, especially after a set of fatal collapses occurred in 1990's. Such collapses are caused usually by combination of factors that can be divided into three main groups, i.e. unfavourable geological conditions, failures in the design and planning or failures in the execution. This paper suggests a procedure enabling quantification of the excavation risk related to extraordinary accidents using FTA and ETA tools. It will elaborate on a common process of risk analysis and enable the transfer of information and experience between particular tunnel construction projects. Further, it gives a guide for designers, management and other participants, how to deal with risk of such accidents and how to make qualified decisions based on a probabilistic approach.

Keywords: risk quantification, tunnel collapse, ETA, FTA, geotechnical risk

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Authors: Norman Wu, Darren Sun

Abstract:

Key performance indicators (KPIs) are used for post result evaluation in the construction industry, and they normally do not have provisions for changes. This paper proposes a set of dynamic key performance indicators (d-KPIs) which predicts the future performance of the activity being measured and presents the opportunity to change practice accordingly. Critical to the predictability of a construction project is the ability to achieve automated data collection. This paper proposes an effective way to collect the process and engineering management data from an integrated construction management system. The d-KPI matrix, consisting of various indicators under seven categories, developed from this study can be applied to close monitoring of the development projects of aged-care facilities. The d-KPI matrix also enables performance measurement and comparison at both project and organization levels.

Keywords: Aged-care project, construction, dynamic KPI, healthcare system.

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Authors: Chien-Hui Yang, Che-Yang Lin, Ya-Chen Hsu

Abstract:

Gold passbook is an investing tool that is especially suitable for investors to do small investment in the solid gold. The gold passbook has the lower risk than other ways investing in gold, but its price is still affected by gold price. However, there are many factors can cause influences on gold price. Therefore, building a model to predict the price of gold passbook can both reduce the risk of investment and increase the benefits. This study investigates the important factors that influence the gold passbook price, and utilize the Group Method of Data Handling (GMDH) to build the predictive model. This method can not only obtain the significant variables but also perform well in prediction. Finally, the significant variables of gold passbook price, which can be predicted by GMDH, are US dollar exchange rate, international petroleum price, unemployment rate, whole sale price index, rediscount rate, foreign exchange reserves, misery index, prosperity coincident index and industrial index.

Keywords: Gold price, Gold passbook price, Group Method ofData Handling (GMDH), Regression.

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Authors: Ke Zhao, Ballarat Colin Richardson, Jerry Courvisanos, John Crawford

Abstract:

Climate change has profound consequences for the agriculture of south-eastern Australia and its climate-induced water shortage in the Murray-Darling Basin. Post Keynesian Economics (PKE) macro-dynamics, along with Kaleckian investment and growth theory, are used to develop an ecological-economic system dynamics model of this complex nonlinear river basin system. The Murray- Darling Basin Simulation Model (MDB-SM) uses the principles of PKE to incorporate the fundamental uncertainty of economic behaviors of farmers regarding the investments they make and the climate change they face, particularly as regards water ecosystem services. MDB-SM provides a framework for macroeconomic policies, especially for long-term fiscal policy and for policy directed at the sustainability of agricultural water, as measured by socio-economic well-being considerations, which include sustainable consumption and investment in the river basin. The model can also reproduce other ecological and economic aspects and, for certain parameters and initial values, exhibit endogenous business cycles and ecological sustainability with realistic characteristics. Most importantly, MDBSM provides a platform for the analysis of alternative economic policy scenarios. These results reveal the importance of understanding water ecosystem adaptation under climate change by integrating a PKE macroeconomic analytical framework with the system dynamics modelling approach. Once parameterised and supplied with historical initial values, MDB-SM should prove to be a practical tool to provide alternative long-term policy simulations of agricultural water and socio-economic well-being.

Keywords: Agricultural water, Macroeconomic dynamics, Modeling, Investment dynamics, Sustainability, Unemployment, Economics, Keynesian, Kaleckian.

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Authors: In Su Na, Gunwon Lee, Seiyong Kim

Abstract:

This study analyzed the effect of area variables and economic variables on the length of each period of the project in order to analyze the effect of agreement rate on project implementation in housing renewal projects. In conclusion, as can be seen from these results, a low agreement rate may not translate into project promotion, and a higher agreement rate may not translate into project delay. The expectation of the policy is that the lower the agreement rate, the more projects would be promoted, but that is not the actual effect. From a policy consistency viewpoint, changing the agreement rate frequently, depending on the decision of the public, is not reasonable. The policy of using agreement rate as a necessary condition for project implementation should be reconsidered.

Keywords: Area and Economic Variables, Elapsed time, Housing Renewal Project.

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