Search results for: Target Cost Management

Authors: Maziyar Nouraee

Abstract:

Electronic markets in recent decades contribute remarkably in business transactions. Many organizations consider traditional ways of trade non-economical and therefore they do trade only through electronic markets. There are different categorizations of electronic markets functions. In one classification, functions of electronic markets are categorized into classes as information, transactions, and value added. In the present paper, effects of the three classes on the two major elements of the supply chain management are measured. The two elements are decrease in the product unit cost and reduction in response time to the customer. The results of the current research show that among nine minor elements related to the three classes of electronic markets functions, six factors and three factors influence on reduction of the product unit cost and reduction of response time to the customer, respectively.

Keywords: Electronic Commerce, Electronic Market, B2B Trade, Supply Chain Management.

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Authors: Farhad Kolahan, Mahdi Abachizadeh

Abstract:

In this paper, a simulated annealing algorithm has been developed to optimize machining parameters in turning operation on cylindrical workpieces. The turning operation usually includes several passes of rough machining and a final pass of finishing. Seven different constraints are considered in a non-linear model where the goal is to achieve minimum total cost. The weighted total cost consists of machining cost, tool cost and tool replacement cost. The computational results clearly show that the proposed optimization procedure has considerably improved total operation cost by optimally determining machining parameters.

Keywords: Optimization, Simulated Annealing, Machining Parameters, Turning Operation.

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Authors: Kirsten Hoeper, Maike Kriependorf

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This paper firstly discusses the initial situation and problems. Afterward, it defines professional bureaucracies and shows their impact for the OR-work. The OR-center and its actors are shown. Finally, the paper provides the empiric design for detecting the target systems of the different work groups within the OR, the quality criteria in qualitative research and empirical results. It is shown that different groups have different targets in their daily work and that helps for a better understanding. More precisely, by detecting the target systems of these experts, we can ‘bridge’ the different points of view to create a common basis for the work in the OR. One of the aims was to find bridges to overcome separating factors. This paper describes the situation in Germany focusing the Hannover Medical School. It can be assumed that the results can be transferred to other countries using the DRG-System (Diagnosis Related Groups).

Keywords: Hospital, OR, professional bureaucracies, target systems.

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Authors: Sangsuree Vasupongayya, Kittisak Keawneam, Kittipong Sengloilaun, Patt Emmawat

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Library management systems are commonly used in all educational related institutes. Many commercial products are available. However, many institutions may not be able to afford the cost of using commercial products. Therefore, an alternative solution in such situations would be open source software. This paper is focusing on reviewing open source library management system packages currently available. The review will focus on the abilities to perform four basic components which are traditional services, interlibrary load management, managing electronic materials and basic common management system such as security, alert system and statistical reports. In addition, environment, basic requirement and supporting aspects of each open source package are also mentioned.

Keywords: open source, library management, review.

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Authors: M. A. Masnadi-Shirazi, S. A. Banani

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In this paper a comprehensive algorithm is presented to alleviate the undesired simultaneous effects of target maneuvering, observed glint noise distribution, and colored noise spectrum using online colored glint noise parameter estimation. The simulation results illustrate a significant reduction in the root mean square error (RMSE) produced by the proposed algorithm compared to the algorithms that do not compensate all the above effects simultaneously.

Keywords: Glint noise, IMM, Kalman Filter, Kinematics, Target Tracking.

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Authors: W. Z. Taffese

Abstract:

This work presents a low-cost and eco-friendly building material named Agrostone panel. Africa-s urban population is growing at an annual rate of 2.8% and 62% of its population will live in urban areas by 2050. As a consequence, many of the least urbanized and least developed African countries- will face serious challenges in providing affordable housing to the urban dwellers. Since the cost of building materials accounts for the largest proportion of the overall construction cost, innovating low-cost building material is vital. Agrostone panel is used in housing projects in Ethiopia. It uses raw materials of agricultural/industrial wastes and/or natural minerals as a filler, magnesium-based chemicals as a binder and fiberglass as reinforcement. Agrostone panel reduces the cost of wall construction by 50% compared with the conventional building materials. The pros and cons of Agrostone panel as well as the use of other waste materials as a raw material to make the panel more sustainable, low-cost and better properties are discussed.

Keywords: Agrostone Panel, Low-cost and sustainable Building Materials, Agro-waste for construction

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Authors: T. Theodosiou, P. Polychronidou, A. G. Karasavvoglou

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The latest years the number of immigrants at Greece has increased dramatically. Their impact on the National Health System (NHS) has not been yet thoroughly investigated. This paper analyses the cost of immigrants to the NHS hospitals of the region of Eastern Macedonia and Thrace. The data are collected from 2005 to 2011 from five different hospitals and are analysed using linear mixed effects models in order to investigate the effects of nationality and year on the cost of hospitalization and treatment. The results show that generally the Greek nationality patients have a higher mean cost of hospitalization compared to the immigrants and that there is an increasing trend for the cost except for the year 2010.

Keywords: Cost, Eastern Macedonia, Thrace, immigrants, national health system.

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Authors: U. Kalay, O. Kalıpsız

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For a spatiotemporal database management system, I/O cost of queries and other operations is an important performance criterion. In order to optimize this cost, an intense research on designing robust index structures has been done in the past decade. With these major considerations, there are still other design issues that deserve addressing due to their direct impact on the I/O cost. Having said this, an efficient buffer management strategy plays a key role on reducing redundant disk access. In this paper, we proposed an efficient buffer strategy for a spatiotemporal database index structure, specifically indexing objects moving over a network of roads. The proposed strategy, namely MONPAR, is based on the data type (i.e. spatiotemporal data) and the structure of the index structure. For the purpose of an experimental evaluation, we set up a simulation environment that counts the number of disk accesses while executing a number of spatiotemporal range-queries over the index. We reiterated simulations with query sets with different distributions, such as uniform query distribution and skewed query distribution. Based on the comparison of our strategy with wellknown page-replacement techniques, like LRU-based and Prioritybased buffers, we conclude that MONPAR behaves better than its competitors for small and medium size buffers under all used query-distributions.

Keywords: Buffer Management, Spatiotemporal databases.

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Authors: Ranjan Sarukkalige, Joseph Sanjaya Ma

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Flood management is one of the important fields in urban storm water management. Floods are influenced by the increase of huge storm event, or improper planning of the area. This study mainly provides the flood protection in four stages; planning, flood event, responses and evaluation. However it is most effective then flood protection is considered in planning/design and evaluation stages since both stages represent the land development of the area. Structural adjustments are often more reliable than nonstructural adjustments in providing flood protection, however structural adjustments are constrained by numerous factors such as political constraints and cost. Therefore it is important to balance both adjustments with the situation. The technical decisions provided will have to be approved by the higher-ups who have the power to decide on the final solution. Costs however, are the biggest factor in determining the final decision. Therefore this study recommends flood protection system should have been integrated and enforces more in the early stages (planning and design) as part of the storm water management plan. Factors influencing the technical decisions provided should be reduced as low as possible to avoid a reduction in the expected performance of the proposed adjustments.

Keywords: Urban Flood, flood protection, water management, storm water, cost,

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Authors: Reza Fazeli, Vitor Leal, Jorge Pinho de Sousa

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Planning the transition period for the adoption of alternative fuel-technology powertrains is a challenging task that requires sophisticated analysis tools. In this study, a system dynamic approach was applied to analyze the bi-directional interaction between the development of the refueling station network and vehicle sales. Besides, the developed model was used to estimate the transition cost to reach a predefined target (share of alternative fuel vehicles) in different scenarios. Several scenarios have been analyzed to investigate the effectiveness and cost of incentives on the initial price of vehicles, and on the evolution of fuel and refueling stations. Obtained results show that a combined set of incentives will be more effective than just a single specific type of incentives.

Keywords: adoption of Alternative Fuel Vehicles, System Dynamic Analysis, Plug-in Hybrid Vehicles

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Authors: Thaniya Kaosol

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General as well as the MSW management in Thailand is reviewed in this paper. Topics include the MSW generation, sources, composition, and trends. The review, then, moves to sustainable solutions for MSW management, sustainable alternative approaches with an emphasis on an integrated MSW management. Information of waste in Thailand is also given at the beginning of this paper for better understanding of later contents. It is clear that no one single method of MSW disposal can deal with all materials in an environmentally sustainable way. As such, a suitable approach in MSW management should be an integrated approach that could deliver both environmental and economic sustainability. With increasing environmental concerns, the integrated MSW management system has a potential to maximize the useable waste materials as well as produce energy as a by-product. In Thailand, the compositions of waste (86%) are mainly organic waste, paper, plastic, glass, and metal. As a result, the waste in Thailand is suitable for an integrated MSW management. Currently, the Thai national waste management policy starts to encourage the local administrations to gather into clusters to establish central MSW disposal facilities with suitable technologies and reducing the disposal cost based on the amount of MSW generated.

Keywords: MSW, management, sustainable, Thailand

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Authors: Ghaleb Y. Abbasi, Sufyan Al-Mrayat

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This study examined the contribution of 36 factors to building construction project’s cost overrun in Jordan. A questionnaire was distributed to a random sample of 350 stakeholders comprised of owners, consultants, and contractors, of which 285 responded. SPSS analysis was conducted to identify the top five causes of cost overrun, which were a large number of variation orders, inadequate quantities provided in the contract, misunderstanding of the project plan, incomplete bid documents, and choosing the lowest price in the contract bidding. There was an agreement among the study participants in ranking the factors contributing to cost overrun, which indicated that these factors were very commonly encountered in most construction projects in Jordan. Thus, it is crucial to enhance the collaboration among the different project stakeholders to understand the project’s objectives and set a realistic plan that takes into consideration all the factors that might influence the project cost, which might eventually prevent cost overrun.

Keywords: Cost, overrun, building construction projects, Jordan.

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Authors: M. Mahdavi, E. Mahdavi

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In this research, STNEP is being studied considering network adequacy and limitation of investment cost by decimal codification genetic algorithm (DCGA). The goal is obtaining the maximum of network adequacy with lowest expansion cost for a specific investment. Finally, the proposed idea is applied to the Garvers 6-bus network. The results show that considering the network adequacy for solution of STNEP problem is caused that among of expansion plans for a determined investment, configuration which has relatively lower expansion cost and higher adequacy is proposed by GA based method. Finally, with respect to the curve of adequacy versus expansion cost it can be said that more optimal configurations for expansion of network are obtained with lower investment costs.

Keywords: TNEP, Network Adequacy, Investment Cost, GA

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Authors: I. Ionascu, M. Ionascu, D.-A. Calu, L. Olimid

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This paper investigates several factors affecting the cost of capital for listed Romanian companies. Although there is a large amount of literature investigating the drivers of the cost of capital internationally, there is currently little evidence from emergent markets. Based on a sample of 19 Romanian listed companies followed by financial analysts for the years 2008-2010, according to Thomson Reuters- I/B/E/S data base, the paper confirms the international trends, showing that size, corporate governance policies, and growth are negatively correlated with the cost of capital.

Keywords: Corporate governance, determinants of the cost of capital, emergent markets.

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Authors: Derya Eren Akyol, Gonca Tuncel, G. Mirac Bayhan

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Activity-Based Costing (ABC) represents an alternative paradigm to traditional cost accounting system and it often provides more accurate cost information for decision making such as product pricing, product mix, and make-orbuy decisions. ABC models the causal relationships between products and the resources used in their production and traces the cost of products according to the activities through the use of appropriate cost drivers. In this paper, the implementation of the ABC in a manufacturing system is analyzed and a comparison with the traditional cost based system in terms of the effects on the product costs are carried out to highlight the difference between two costing methodologies. By using this methodology, a valuable insight into the factors that cause the cost is provided, helping to better manage the activities of the company.

Keywords: Activity-based costing, manufacturing systems, product costs, traditional costing.

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Authors: Wei Lo, Ming-En Kuo

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While to minimize the overall project cost is always one of the objectives of construction managers, to obtain the maximum economic return is definitely one the ultimate goals of the project investors. As there is a trade-off relationship between the project time and cost, and the project delivery time directly affects the timing of economic recovery of an investment project, to provide a method that can quantify the relationship between the project delivery time and cost, and identify the optimal delivery time to maximize economic return has always been the focus of researchers and industrial practitioners. Using genetic algorithms, this study introduces an optimization model that can quantify the relationship between the project delivery time and cost and furthermore, determine the optimal delivery time to maximize the economic return of the project. The results provide objective quantification for accurately evaluating the project delivery time and cost, and facilitate the analysis of the economic return of a project.

Keywords: Time-Cost Trade-Off, Genetic Algorithms, Resource Integration, Economic return.

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Authors: A. K. Jain, M. C. Paliwal

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Construction cost in India is increasing at around 50 per cent over the average inflation levels. It have registered increase of up to 15 per cent every year, primarily due to cost of basic building materials such as steel, cement, bricks, timber and other inputs as well as cost of labour. As a result, the cost of construction using conventional building materials and construction is becoming beyond the affordable limits particularly for low-income groups of population as well as a large cross section of the middle - income groups. Therefore, there is a need to adopt cost-effective construction methods either by up-gradation of traditional technologies using local resources or applying modern construction materials and techniques with efficient inputs leading to economic solutions. This has become the most relevant aspect in the context of the large volume of housing to be constructed in both rural and urban areas and the consideration of limitations in the availability of resources such as building materials and finance. This paper makes an overview of the housing status in India and adoption of appropriate and cost effective technologies in the country.

Keywords: Appropriate, Cost Effective, Ekra, Five year plan, Poverty

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Authors: AbdulLateef A. Olanrewaju, Arazi Idrus, Mohd F. Khamidi

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Maintenance costs incurred on building differs. The difference can be as results of the types, functions, age, building health index, size, form height, location and complexity of the building. These are contributing to the difficulty in maintenance development of deterministic maintenance cost model. This paper is concerns with reporting the preliminary findings on the creation of building maintenance cost distributions for universities in Malaysia. This study is triggered by the need to provide guides on maintenance costs distributions for decision making. For this purpose, a survey questionnaire was conducted to investigate the distribution of maintenance costs in the universities. Altogether, responses were received from twenty universities comprising both private and publicly owned. The research found that engineering services, roofing and finishes were the elements contributing the larger segment of the maintenance costs. Furthermore, the study indicates the significance of maintenance cost distribution as decision making tool towards maintenance management.

Keywords: Performance matrix, university buildings, costmodel, Malaysia

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Authors: Moulay A. Akhloufi

Abstract:

In recent years, we see an increase of interest for efficient tracking systems in surveillance applications. Many of the proposed techniques are designed for static cameras environments. When the camera is moving, tracking moving objects become more difficult and many techniques fail to detect and track the desired targets. The problem becomes more complex when we want to track a specific object in real-time using a moving Pan and Tilt camera system to keep the target within the image. This type of tracking is of high importance in surveillance applications. When a target is detected at a certain zone, the possibility of automatically tracking it continuously and keeping it within the image until action is taken is very important for security personnel working in very sensitive sites. This work presents a real-time tracking system permitting the detection and continuous tracking of targets using a Pan and Tilt camera platform. A novel and efficient approach for dealing with occlusions is presented. Also a new intelligent forget factor is introduced in order to take into account target shape variations and avoid learning non desired objects. Tests conducted in outdoor operational scenarios show the efficiency and robustness of the proposed approach.

Keywords: Tracking, surveillance, target detection, Pan and tilt.

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

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

Keywords: BIM, Construction projects, Cost estimation, NRM, Ontology.

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Authors: Kenneth M. Oba

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Adequate management, control, and optimization of cost is an essential element for a successful construction project. A multiple linear regression optimization model was formulated to address the problem of costs associated with pile construction operations. A total of 32 PVC-reinforced concrete piles with diameter of 300 mm, 5.4 m long, were studied during the construction. The soil upon which the piles were installed was mostly silty sand, and completely submerged in water at Bonny, Nigeria. The piles are friction piles installed by boring method, using a piling auger. The volumes of soil removed, the weight of reinforcement cage installed, and volumes of fresh concrete poured into the PVC void were determined. The cost of constructing each pile based on the calculated quantities was determined. A model was derived and subjected to statistical tests using Statistical Package for the Social Sciences (SPSS) software. The model turned out to be adequate, fit, and have a high predictive accuracy with an R2 value of 0.833.

Keywords: Cost optimization modelling, multiple linear models, pile construction, regression models.

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Authors: Vishal D. Pandya

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A great deal of perceptible change has been taking place in the way our institutions of higher learning are being managed in India today. It is believed that managers, whose intuition proves to be accurate, often tend to be the most successful, and this is what makes them almost like entrepreneurs. A certain entrepreneurial spirit is what is expected and requires a degree of insight of the manager to be successful depending upon the situational and more importantly, the heterogeneity as well as the socio-cultural aspect. Teachers in Higher Education have to play multiple roles to make sure that the Learning-Teaching process becomes effective in the real sense of the term. This paper makes an effort to take a close look at that, especially in the context of the management of English language teaching in Higher Education and, therefore, focuses on the management of English language teaching in higher education by understanding target situation analyses at the socio-cultural level.

Keywords: Management, language teaching, English language teaching, higher education.

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Authors: Pirada Techaratpong

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This qualitative research has 2 objectives: to study marketing management of the cultural learning center in Suansunandha Rajabhat University and to suggest guidelines to improve its marketing management. This research is based on a case study of the Arts and Culture Office in Suansunandha Rajabhat University, Bangkok. This research found the Art and Culture Office has no formal marketing management. However, the marketing management is partly covered in the overall business plan, strategic plan, and action plan. The process can be divided into 5 stages. The marketing concept has long been introduced to its policy but not apparently put into action due to inflexible system. Some gaps are found in the process. The research suggests the Art and Culture Office implement the concept of marketing orientation, meeting the needs and wants of its target customers and adapt to the changing situation. Minor guidelines for improvement are provided.

Keywords: Marketing, management, museum, cultural learning center.

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Authors: Mojtaba Mahmoodian, Joshua Phelan, Mehdi Shahparvari

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With a large percentage of countries’ total infrastructure expenditure attributed to water network maintenance, it is essential to optimise maintenance strategies to rehabilitate or replace underground pipes before failure occurs. The aim of this paper is to provide water utility managers with a maintenance management approach for underground water pipes, subject to external loading and material corrosion, to give the lowest life cycle cost over a predetermined time period. This reliability-based maintenance management methodology details the optimal years for intervention, the ideal number of maintenance activities to perform before replacement and specifies feasible renewal options and intervention prioritisation to minimise the life cycle cost. The study was then extended to include feasible renewal methods by determining the structural condition index and potential for soil loss, then obtaining the failure impact rating to assist in prioritising pipe replacement. A case study on optimisation of maintenance plans for the Melbourne water pipe network is considered in this paper to evaluate the practicality of the proposed methodology. The results confirm that the suggested methodology can provide water utility managers with a reliable systematic approach to determining optimum maintenance plans for pipe networks.

Keywords: Water pipe networks, maintenance management, reliability analysis, optimum maintenance plan.

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Authors: Narong Anurak

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The objectives of this research were to investigate the knowledge and understanding of public relations principles for public relations officials of the office of the faculty of management science in Ratjabhat Suan Sunandha University and to determine the approach of public relations for the Office of Faculty of Management Science.  The questionnaire was utilized as a tool to collect data. Statistics utilized included frequency, percentage, mean, standard deviation, and regression analysis. The results of the research showed that the public relations officials misunderstood on public relations principles. The lack of the perception in media of the target groups both in-house and outside caused the misunderstanding on the roles, mission, and responsibilities. It would be beneficial to public relations division and other divisions of the office of the faculty of management science to be trained and obtained more knowledge and skills on the public relations to support the public relations work for the organization.

Keywords: Faculty of Management Science, Public Relations, Ratjabhat Suan Sunandha University.

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Authors: Ender Bulgun, Arzu Vuruskan

Abstract:

Apparel product development is an important stage in the life cycle of a product. Shortening this stage will help to reduce the costs of a garment. The aim of this study is to examine the production parameters in knitwear apparel companies by defining the unit costs, and developing a software to calculate the unit costs of garments and make the cost estimates. In this study, with the help of a questionnaire, different companies- systems of unit cost estimating and cost calculating were tried to be analyzed. Within the scope of the questionnaire, the importance of cost estimating process for apparel companies and the expectations from a new cost estimating program were investigated. According to the results of the questionnaire, it was seen that the majority of companies which participated to the questionnaire use manual cost calculating methods or simple Microsoft Excel spreadsheets to make cost estimates. Furthermore, it was discovered that many companies meet with difficulties in archiving the cost data for future use and as a solution to that problem, it is thought that prior to making a cost estimate, sub units of garment costs which are fabric, accessory and the labor costs should be analyzed and added to the database of the programme beforehand. Another specification of the cost estimating unit prepared in this study is that the programme was designed to consist of two main units, one of which makes the product specification and the other makes the cost calculation. The programme is prepared as a web-based application in order that the supplier, the manufacturer and the customer can have the opportunity to communicate through the same platform.

Keywords: Apparel, cost estimating, design archive.

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Authors: Hussam Al-Shorman, Yosef Hasan Jbara

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A business case is a proposal for an investment initiative to satisfy business and functional requirements. The business case provides the foundation for tactical decision making and technology risk management. It helps to clarify how the organization will use its resources in the best way by providing justification for investment of resources. This paper describes how simulation was used for business case benefits and return on investment for the procurement of 8 production machines. With investment costs of about 4.7 million dollars and annual operating costs of about 1.3 million, we needed to determine if the machines would provide enough cost savings and cost avoidance. We constructed a model of the existing factory environment consisting of 8 machines and subsequently, we conducted average day simulations with light and heavy volumes to facilitate planning decisions required to be documented and substantiated in the business case.

Keywords: Investment cost, business case, return on investment, simulation.

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Authors: Golnaz Moghimi, Alireza Afsharghotli, Alireza Rezaei

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Construction waste has been gradually increased as a result of upsizing construction projects which are occurred within the lifecycle of buildings. Since waste management is a major priority and has profound impacts on the volume of waste generated in construction stage, the majority of efforts have been attempted to reuse, recycle and reduce waste. However, there is still room to study on lack of sufficient knowledge about waste management in construction industry. This paper intends to provide an insight into the effect of project management knowledge areas on waste management solely on construction stage. To this end, a survey among Iranian building construction industry contractors was conducted to identify the effectiveness of project management knowledge areas on three jobsite key factors including ‘Site activity’, ‘Training’, and ‘Awareness’. As a result, four management disciplines were identified as most influential ones on amount of construction waste. These disciplines were Project Cost Management, Quality Management, Human Resource Management, and Integration Management. Based on the research findings, a new model was presented to develop effective construction waste strategies.

Keywords: Awareness, PMBOK, site activity, training, waste management.

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Authors: Refaat H. Abd El Razek, Ahmed M. Diab, Sherif M. Hafez, Remon F. Aziz

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Time-Cost Optimization "TCO" is one of the greatest challenges in construction project planning and control, since the optimization of either time or cost, would usually be at the expense of the other. Since there is a hidden trade-off relationship between project and cost, it might be difficult to predict whether the total cost would increase or decrease as a result of the schedule compression. Recently third dimension in trade-off analysis is taken into consideration that is quality of the projects. Few of the existing algorithms are applied in a case of construction project with threedimensional trade-off analysis, Time-Cost-Quality relationships. The objective of this paper is to presents the development of a practical software system; that named Automatic Multi-objective Typical Construction Resource Optimization System "AMTCROS". This system incorporates the basic concepts of Line Of Balance "LOB" and Critical Path Method "CPM" in a multi-objective Genetic Algorithms "GAs" model. The main objective of this system is to provide a practical support for typical construction planners who need to optimize resource utilization in order to minimize project cost and duration while maximizing its quality simultaneously. The application of these research developments in planning the typical construction projects holds a strong promise to: 1) Increase the efficiency of resource use in typical construction projects; 2) Reduce construction duration period; 3) Minimize construction cost (direct cost plus indirect cost); and 4) Improve the quality of newly construction projects. A general description of the proposed software for the Time-Cost-Quality Trade-Off "TCQTO" is presented. The main inputs and outputs of the proposed software are outlined. The main subroutines and the inference engine of this software are detailed. The complexity analysis of the software is discussed. In addition, the verification, and complexity of the proposed software are proved and tested using a real case study.

Keywords: Project management, typical (repetitive) large scale projects, line of balance, multi-objective optimization, genetic algorithms, time-cost-quality trade-offs.

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Authors: Francis O. Iyoha, Daniel E. Gberevbie, Charles T. Iruonagbe, Matthew E. Egharevba

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Cost of governance in Nigeria has become a challenge to development and concern to practitioners and scholars alike in the field of business and social science research. In the 2010 national budget of NGN4.6 trillion or USD28.75billion for instance, only a pantry sum of NGN1.8trillion or USD11.15billion was earmarked for capital expenditure. Similarly, in 2013, out of a total national budget of NGN4.92trillion or USD30.75billion, only the sum of NGN1.50trllion or USD9.38billion was voted for capital expenditure. Therefore, based on the data sourced from the Nigerian Office of Statistics, Central bank of Nigeria Statistical Bulletin as well as from the United Nations Development Programme, this study examined the causes of high cost of governance in Nigeria. It found out that the high cost of governance in the country is in the interest of the ruling class, arising from their unethical behaviour – corrupt practices and the poor management of public resources. As a result, the study recommends the need to intensify the war against corruption and mismanagement of public resources by government officials as possible solution to overcome the high cost of governance in Nigeria. This could be achieved by strengthening the constitutional powers of the various anti-corruption agencies in the area of arrest, investigation and prosecution of offenders without the interference of the executive arm of government either at the local, state or federal level.

Keywords: Capital expenditure, Cost of governance, recurrent expenditure, unethical behaviour.

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