scholarly journals Analysis construction industry on the basis of price trends of labor cost

2018 ◽  
Vol 174 ◽  
pp. 04005
Author(s):  
Daniel Przywara ◽  
Adam Rak
Keyword(s):  
Construction Industry ◽  
Cost Estimation ◽  
Labor Cost ◽  
Cost Estimate ◽  
Labor Costs ◽  
Cost Estimates ◽  
Price Trends ◽  
Estimate Rate ◽  
Business Entities ◽  
The Impact

Records of the national, average pay rates in the construction industry, at quarterly intervals, allow cost - planning departments of contractors and investment services to assess current market conditions in the construction industry. Price quarterly publications, such as Sekocenbud and Intercenbud, contain important information, enabling production preparation departments to prepare a comparison of the production in-house labor rates with the market production labor rates. The article attempts to analyze the economic situation of domestic construction production in the years 2010-2016 based on the emerging price trends of the of labor cost estimates in this period, taking into account the impact of seasonal construction services. In "Polish cost estimates standards", the labor cost estimate rate is present in one form: the net labor cost estimate rate, which fully corresponds to the rate defined in calculation formulas. The rates of labor cost estimates, in individual regions of Poland, are shaped according to the presented market situations. This clearly is reflected in the periodic (quarterly) regional records of labor rates in the Sekocenbud system. The Act on prices of July 5, 2001 does not contain any normative regulations regarding the methods of cost estimation of construction works. The necessity to remain competitive forces large construction corporations to use a subcontracting system, involving several or even several dozen smaller, specialized in a narrow range of works, business entities in which labor costs are definitely lower, because they are reduced by a lower value of internal costs.

Applications of Building Information Modeling in Cost Estimation of Infrastructure Bridges

2012 ◽  
Vol 1 (2) ◽  
pp. 17-29 ◽  
Author(s):  
Mohamed Marzouk ◽  
Mohamed Hisham
Keyword(s):  
Construction Industry ◽  
Cash Flow ◽  
Cost Estimation ◽  
Building Information Modeling ◽  
Cost Estimate ◽  
Information Modeling ◽  
Bridge Engineering ◽  
C Language ◽  
Building Information ◽  
Bridge Information Modeling

Bridge Information Modeling (BrIM) is considered an innovation in bridge engineering and construction industry. This paper presents a methodology for using BrIM as an assisting tool in performing detailed cost estimates. The methodology depends on integrating visualization feature of BrIM with specific attributes of the BrIM model intelligent components. A program developed using C# language is used to extract the visualization conclusions and other components’ attributes to MS Excel spreadsheet. This sheet assists in performing detailed cost estimate, and reviewing the estimate. The paper also presents a methodology for generating cash flow and required payments. This methodology depends on integrating the developed program with 4D feature of BrIM.

scholarly journals Systemic Approach to Evaluating External Factors Influencing the Resource Potential of the Catering Industry

2021 ◽  
Vol 2 (48) ◽  
pp. 143-148
Author(s):  
M. M. Kucher ◽  
◽  
H. P. Levchenko ◽  
Keyword(s):  
External Factors ◽  
Economic Situation ◽  
Business Practices ◽  
Labor Costs ◽  
Resource Potential ◽  
Factors Influencing ◽  
Catering Industry ◽  
Indirect Impact ◽  
Business Entities ◽  
The Impact

One of the defining sectoral features of the catering business as a component of a national economy is its increased sensitivity to changes occurring in the economic situation, environment and business practices. It is a priori impossible to take into account the absolute majority of factors influencing the process of resource potential formation, so it is necessary to determine the set of those factors that have a direct or indirect impact on the catering business in general and resource potential in particular, as well as on the formation of their comprehensive evaluation system. The article is aimed at evaluating the impact of these factors on the resource potential of enterprises in the catering industry. The macroenvironment is analyzed as a set of external factors of indirect impact by the following indices: GDP, investment, consumer price index, household income. The dualistic nature of the impact made by external factors of indirect impact is established, whereas these factors can be both opportunities and threats to the catering industry depending on certain criteria of the international economic situation. A comprehensive analysis of the meso environment from the standpoint of dividing impact factors in two groups: the market group (number of business entities in catering industry; gross output and volume of sales of goods; price indices for goods and services) and resource group (financial results of the catering industry and services; investment volume and structure in this area; employment and labor costs; information technologies usage). The presence and hidden sources by types of resources are established. Synthesis of the impact areas of external factors on the activity of catering business entities is made based on a symbiosis of the following methods: PEST-analysis, SWOT-analysis, PESTEL-analysis. A set of evaluation areas of factors influencing the formation of the resource potential of an enterprise is created, providing for the application of the distribution criterion depending on the area of evaluating external factors of indirect impact. The general economic indicator (GDP) is suggested to be used as a distribution criterion, whose range of values will indicate the transition of a particular index to the plane of "threat" or "opportunity".

Polaris Industries Inc.

2017 ◽  
pp. 1-9
Author(s):  
Sunil Chopra ◽  
Ioana Andreas ◽  
Sigmund Gee ◽  
Ivi Kolasi ◽  
Stephane Lhoste ◽  
...  
Keyword(s):  
United States ◽  
Vice President ◽  
The United States ◽  
Labor Cost ◽  
Time Variability ◽  
List Type ◽  
Labor Costs ◽  
Manufacturing Facility ◽  
Facility Locations ◽  
The Impact

In September 2010 Suresh Krishna, vice president of operations and integration at Polaris Industries Inc., a manufacturer of all-terrain vehicles, Side-by-Sides, and snowmobiles, needed to recommend a location for a new plant to manufacture the company's Side-by-Side vehicles.The economic slowdown in the United States had put considerable pressure on Polaris's profits, so the company was considering whether it should follow the lead of other manufacturers and open a facility in a country with lower labor costs. China and Mexico were shortlisted as possible locations for the new factory, which would be the first Polaris manufacturing facility located outside the Midwestern United States. By the end of the year Krishna needed to recommend to the board whether Polaris should build a new plant abroad (near-shored in Mexico or off-shored in China) or continue to manufacture in its American facilities. Evaluate tradeoffs between different geographic locations when establishing a manufacturing facility (off-shoring, near-shoring, and on-shoring) Run a sensitivity analysis on total cost Assess the impact of transportation costs, exchange rates, labor cost rates, lead times, and other assumptions on total costs Identify qualitative factors to be considered when deciding between non-U.S. facility locations, transportation time variability, consumer perceptions, and cultural differences

scholarly journals Optimization of labor cost standards in IT companies

2020 ◽  
Vol 18 (1) ◽  
pp. 1-10
Author(s):  
Ivanna Pererva
Keyword(s):  
Methodological Approach ◽  
Labor Cost ◽  
Labor Standards ◽  
Financial Resources ◽  
Company Performance ◽  
Labor Intensity ◽  
Labor Costs ◽  
Software Products ◽  
Software Product ◽  
The Impact

The article systematizes and analyzes the list of resources for IT companies. A causality diagram between model variables by the software product complexity was built on the basis of dependencies between the time and the number of specialists involved in the development of software products, as well as company performance indicators. The nature of causal relationships between the model variables in terms of the software product labor intensity is presented. Using the VenSim simulation system, a simulation model for determining optimal labor standards for IT companies was built. The results of evaluating the adequacy of the model for determining optimal labor standards are presented. The optimal labor standards by labor intensity levels are determined, at which the efficiency of using the technical, technological, information, labor, and financial resources of the company increases and the profitability of activities for IT companies is maximized. A methodological approach has been presented, which outlines the cost standards of innovative labor of IT companies’ specialists. The developed approach is aimed at determining the time and number of an IT company specialists who, due to the impact on the efficiency of using information, technical, labor and financial resources, provide the necessary level of profitability of the IT companies’ activities. The advantages of the developed methodological approach to rationing labor costs in IT companies are presented.

scholarly journals The Impact of Transformation of Farmers’ Livelihood on the Increasing Labor Costs of Grain Plantation in China

2021 ◽  
Vol 13 (21) ◽  
pp. 11637
Author(s):  
Xilong Jiang ◽  
Guanyi Yin ◽  
Yi Lou ◽  
Shuai Xie ◽  
Wei Wei
Keyword(s):  
Agricultural Land ◽  
Labor Cost ◽  
Multiple Regression Model ◽  
Policy Implications ◽  
Grain Production ◽  
Simpson Index ◽  
Labor Costs ◽  
Maize Production ◽  
Negative Impacts ◽  
The Impact

Analyzing the recessive impacts of farmers’ livelihood transformation on the surging labor cost in grain production is conducive to finding optimization paths for grain production. This study developed the Residual Livelihood Ratio (RLR) and the Livelihood Simpson Index (LSI) to measure the transformation of farmers' livelihood in China, and applied the multiple regression model to explore the influence of the transformation of farmers' livelihood on the labor cost of grain production. The results show that because of the soaring increment in labor cost, the net profit of rice, wheat, and maize production decreased largely in China. The LSI increased, while the RLR decreased, which indicated that farmers’ livelihoods transitioned towards a more unbalanced income–expenditure but more flexible employment. The Residual Livelihood Ratio; the mechanization input; the grain yield per unit area; the non-grain plantation degree; and the non-agricultural land use degree showed negative impacts on labor cost in grain production, whereas the Livelihood Simpson Index and Engel’s coefficient of farmers showed positive impacts on the labor cost. This paper proposes targeted policy implications for labor cost control of the grain production in China.

Cost Estimation Overruns in the North Sea

2003 ◽  
Vol 34 (1) ◽  
pp. 23-29 ◽  
Author(s):  
Magne Emhjellen ◽  
Kjetil Emhjellen ◽  
Petter Osmundsen
Keyword(s):  
North Sea ◽  
Cost Estimation ◽  
Capital Expenditure ◽  
Expected Value ◽  
Oil Field ◽  
Cost Estimate ◽  
Cost Estimates ◽  
Cost Overruns ◽  
Oil Companies ◽  
The Cost

Recently, a Norwegian government report on the cost overruns North Sea projects was presented (NOU 1999:11). It concluded that there was a 25% increase in development costs from project sanction (POD, Plan for Operation and Development) to last CCE (Capital Cost Estimate) for the 11 oil field projects investigated. Many reasons like unclear project assumptions in early phase, optimistic interpolation of previous project assumptions, optimistic estimates, and underestimation of uncertainty were given as reasons for overruns. In this paper we highlight the possibility that the cost overruns are not necessarily all due to the reasons given, but also to an error in the estimation and reporting of the capital expenditure cost (CAPEX). Usually the CAPEX is given by a single cost figure, with some indication of its probability distribution. The oil companies report, and are required to do so by government authorities, the estimated 50/50 (median) cost estimate instead of the estimated expected value cost estimate. We demonstrate how the practice of using a 50/50 (median) CAPEX estimate for the 11 projects, when the cost uncertainty distributions are asymmetric, may explain at least part of the “overruns.” Hence, we advocate changing the practice of using 50/50 cost estimates instead of expected value cost estimates for project management and decision purposes.

scholarly journals Albanian EU Integration and its Economic Convergence in the Agricultural Sector

2015 ◽  
Vol 2 (1) ◽  
pp. 83
Author(s):  
Arjola Mitaj ◽  
Jonida Avdulaj ◽  
Klodian Muco
Keyword(s):  
Agricultural Sector ◽  
Labor Cost ◽  
Labor Costs ◽  
Domestic Consumption ◽  
Eu Countries ◽  
The Future ◽  
Fragmentation Of Production ◽  
The Impact ◽  
Foreign Enterprises ◽  
The Eu

Recently, the core of political and economic debate in Albania consists on reflections related to increasing the Albanian competitiveness in international markets. Fiscal pressures, low labor costs in the Albanian market and the attraction of foreign investment during the last years seems to have not yielded the expected results, not only for being more competitive in foreign markets but even for domestic consumption. It is mentioned here domestic consumption because focused on agricultural sector, it can be considered as a strategic sector of the future in Albania, and especially the EU where we aspire to take part, requests from Albania to orient production toward agriculture. This sector although constitutes 22% of GDP and occupies 47% of total employees fulfills only a quarter of domestic consumption (INSTAT, 2013). The impact of this sector in EU countries is only 1.7%. These indicators are simple enough to understand that even though agriculture is the most important sector of the country, from the standpoint of employment and the strategies remains still one of the sectors with the lowest productivity in Europe and shows that our country in order to achieve EU levels, has a lot of work to do and it is very essential for this process taking in consideration or paying attention to the "best practices" of this sector to reduce the gap created between Albania and the EU countries if we truly aspire to become part of this family. It is often discussed about the stimulation of foreign enterprises to displace a part of their manufacturing in our country. Or more precisely, it has often been demanded that foreign enterprises should operate in traditional sectors with output compartments that use a non-specialized labor intensive. According to modern economic theories, low labor cost is one of the primary factors in the international fragmentation of production (Lucas, 1988; Stokey, 1991; Bassanini and Scarpetta (2002b). While talking about labor cost, this should not be confused with low salaries, because not always a low salary coincides with a low labor cost. The problem of these entrepreneurs is the fact that although they shift their production to countries like Albania, they do not create a long-term cooperation with these countries. Not even a distribution of technology or an increase of total productivity is noticed, even in those sectors where there has been a shift of production. The objective of this paper is to measure the convergence in the agricultural sector and the role that integration has played in the economic development of the country in order to give some modest suggestions for policy makers which may be necessary for designing development strategies in the future

Factors affecting the accuracy of cost estimate during various design stages

2019 ◽  
Vol 18 (4) ◽  
pp. 787-819
Author(s):  
Tala Hassan Dandan ◽  
Ghaleb Sweis ◽  
Lilana Salem Sukkari ◽  
Rateb J. Sweis
Keyword(s):  
Cost Estimation ◽  
Online Survey ◽  
Construction Cost ◽  
Project Managers ◽  
Cost Estimate ◽  
Building Construction ◽  
Cost Estimates ◽  
Content Type ◽  
Factors Affecting ◽  
Order Of Magnitude

Purpose The purpose of this paper is to identify factors affecting cost estimate accuracy in each of five design stages preceding building construction: order of magnitude, conceptual/schematic, detailed design, construction document and bid phase. Design/methodology/approach Data were collected using an online survey completed by 138 respondents who work in design consultancy firms in Jordan, including project managers, architects and quantity surveyors (QSs). Survey responses were analyzed using descriptive statistics. Confirmatory interviews and case study comparisons were used to confirm the statistical analysis results. Findings The results of this study indicated that each design stage’s cost estimate was affected by several factors. Two significant factors were common across four of the five design stages: client experience and project team experience. In addition, a high level of agreement was observed among the project managers, architects and QSs regarding the factors affecting cost estimate accuracy. Originality/value Accurately estimating building construction costs during the design process has posed a challenge for designers and their clients in Jordan. Despite the care and effort involved in preparing cost estimates in each of the five design stages, deviations are commonly observed. Because the accuracy of building construction cost estimates directly affect the success or failure of a project, the results of this study can be used to reduce uncertainties in building construction cost estimation and subsequently increase the likelihood of project success

scholarly journals Research on the Impact of Rising Labor Cost on Trade between China and Japan ——Based on the perspective of ternary margins

2021 ◽  
Vol 235 ◽  
pp. 02066
Author(s):  
Lulu Wang ◽  
Jing Deng
Keyword(s):  
Labor Cost ◽  
Extensive Margin ◽  
Labor Costs ◽  
Negative Effects ◽  
Positive Effects ◽  
China And Japan ◽  
The Government ◽  
The Impact ◽  
Textile Products

This paper calculated the extensive margin, price margin and quantity margin of trade growth between China and Japan during 2000-2018, and analyzed the impact of rising labor costs on trade between China and Japan based on the perspective of ternary margins. The results show that the rising labor cost has both positive and negative effects on the growth of China’s export to Japan, also has different effects on different kinds of products. Specifically, there are significant positive effects on the extensive margin of animal and plant products and textile products, the price margin of chemical products and the quantity margin of textile products. The Government should formulate relevant policies, make the labor factors have reasonable distribution, and promote the long-term and stable development of trade between China and Japan.

scholarly journals Analisis Produktivitas Tukang Batu Bata Pada Proyek Pembangunan Asrama Puteri Mandala Wangi 2 di Kota Kendari

2021 ◽  
Vol 2 (1) ◽  
pp. 37-45
Author(s):  
Al Mustahyun ◽  
Sunaryo Sunaryo ◽  
La Ode Musa Rahmat ◽  
Sufrianto Sufrianto
Keyword(s):  
Construction Industry ◽  
Labor Productivity ◽  
Labor Cost ◽  
Labor Costs ◽  
Work Time ◽  
Work Activities ◽  
Competitive Prices ◽  
Time Required

Productivity is one of the fundamental factors that influences the ability of performance in the construction industry. Increasedproductivity will reduce work time, and will reduce costs, especiallylabor costs so that the minimum labor cost is obtained (labor costs)to get competitive prices both for auction and implementation. Thepurpose of this study is to analyze the labor productivity time incompleting 1 m2 of masonry bricks and to analyze the productivityvalue of brick masons in completing work activities in the constructionproject of the Mandala Wangi 2 female dormitory. The results showedthat the time required to complete 1 m2 of brick laying work was 41.13minutes on average. The productivity of the artisans working on the 1stfloor is an average of 1.45 m2/hr. Meanwhile, the productivity ofcraftsmen working on the 2nd floor is an average of 1.47 m2/hr.

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