Prediction of construction projects’ costs based on fusion method

2017 ◽  
Vol 34 (7) ◽  
pp. 2396-2408 ◽  
Author(s):  
Fang Shutian ◽  
Zhao Tianyi ◽  
Zhang Ying
Keyword(s):  
Construction Projects ◽  
Design Methodology ◽  
Construction Cost ◽  
Filter Method ◽  
Support Vector ◽  
Content Type ◽  
Filtering Method ◽  
The Cost ◽  
First Time ◽  
Practical Implications

Purpose This study aims to predict the construction cost in China, the authors purposed a fused method. Design/methodology/approach The authors extracted 22 factors which may influence the cost and performed the correlation analysis with cost. They chose the highest 10 factors to predict cost by the fused method. The method fused the Kalman filter with least squares support vector machine and multiple linear regression. Findings Ten factors which affect the cost most were found. The construction cost in China can be predicted by the presented method precisely. The statistical filter method could be used in the field of construction cost prediction. Research limitations/implications The construction cost and construction interior factors are a business secret in China. So, the authors only collected 24 buildings’ data to perform the experiments. Practical implications There is no standard and precise method to predict construction cost in China, so the presented method offers a new way to judge the feasibility of projects and select design schemes of construction. Originality/value The authors purposed a new fused method to predict construction cost. It is the first time that the statistical filtering method was used in this field. The effectiveness was verified by the experiments. Ten factors which have a high relationship with construction cost were found.

Tax evasion in Brazil: the case of specialists

2018 ◽  
Vol 45 (2) ◽  
pp. 401-410 ◽  
Author(s):  
Felippe Clemente ◽  
Viviani Silva Lírio
Keyword(s):  
Game Theory ◽  
Tax Evasion ◽  
Design Methodology ◽  
Equilibrium System ◽  
Content Type ◽  
Federal Revenue ◽  
Public Body ◽  
The Cost ◽  
First Time ◽  
Practical Implications

Purpose The purpose of this paper is to use the instrumental game theory to understand the behavior of the front agents tax evasion and tax authority in Brazil. Design/methodology/approach In order to analyze the taxpayer’s behavior before the Brazilian tax system and tax actions aimed at reducing tax evasion, the authors developed a theoretical model based on the payoffs of Graetz et al. (1986) and increased with situations proposed by Siqueira (2004), Lipatov (2006) and Oliveira (2011). Findings Considering the cases with and without specialists, the main results show that in high dropout situation, penalize taxpayers with high fines or deprivations of liberty may not be as effective. Another result of the analysis is that the audit and inspection costs played an important role in driving the equilibrium system. Research limitations/implications One limitation of this study is to consider how the exogenous tax authorities earnings (Federal Revenue of Brazil and Federal Police) and not as a function of the goals and certain enforcement policies for each public body. Practical implications The authors suggest the following policy: investing in tax inspectors and unbureaucratic the authorities of the cost structure become a more effective tool to combat non-compliance with tax obligations that the intensity of the penalties imposed by the act of evading. Originality/value This paper contributes to the literature insofar as it models for the first time, using game theory, the behavior of the evading agent and the tax authority in Brazil.

An integrated BIM-based approach for cost estimation in construction projects

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abdulwahed Fazeli ◽  
Mohammad Saleh Dashti ◽  
Farzad Jalaei ◽  
Mostafa Khanzadi
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
Design Methodology ◽  
Automated System ◽  
Design Stage ◽  
Complex Structures ◽  
Human Errors ◽  
Content Type ◽  
The Cost ◽  
Practical Implications

PurposeAnalyzing different scenarios at the design stage of construction projects has always been a challenging task. One of the main parameters that helps owners in making better decisions in designing their buildings is to look after the cost perspective on different design scenarios. Thus, this study aims to propose a semi-automated BIM-based cost estimation approach that enables practitioners to estimate the cost of projects based on different design scenarios by an accurate and agile system.Design/methodology/approachThis study proposes an integrated framework, through which the cost estimation standard of Iran (FehrestBaha) is linked to the materials quantity take-offs (QTO) from BIM models. The performance of the system is based on connecting the classification standards of UniFormat and MasterFormat to the cost estimation standard of FehrestBaha. A BIM-based extension in the Revit environment is developed to automate the cost estimation process.FindingsTo evaluate the efficiency of the proposed approach in cost estimation, it is implemented to estimate the cost of the architectural discipline in a real construction project. The results indicate that the proposed BIM-based approach estimated the cost of the architectural discipline with an acceptable level of accuracy.Practical implicationsThe proposed approach could be used by practitioners to have an agile and accurate BIM-based cost estimation of different scenarios during design process. The semi-automated system considerably reduces the time of cost estimation in comparison to the traditional manual approaches, particularly in complex structures. Owners are able to easily trace changes in project cost according to any changes in components and materials of the BIM model. Furthermore, the proposed approach provides a practical roadmap for BIM-based cost estimation based on cost estimation standards in different countries.Originality/valueUnlike the traditional manual cost estimation approaches, the proposed BIM-based approach is not highly dependent on the knowledge of experienced estimators, which therefore facilitates its implementation. Furthermore, automating both QTO process and the required calculations in this approach increases the accuracy of cost estimation while decreasing the probability of human errors or omission occurrence.

“Never the first time on a patient”: the stakes of high-fidelity simulation for safety training

2018 ◽  
Vol 32 (5) ◽  
pp. 23-25 ◽  
Author(s):  
Lucie Cuvelier
Keyword(s):  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Safety Training ◽  
High Fidelity ◽  
High Fidelity Simulation ◽  
Content Type ◽  
Pertinent Information ◽  
First Time ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings An operative approach is described that is designed to structure the debriefing along three axes. Practical implications The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Cooperatives: an alternative to water privatization in Greece

2014 ◽  
Vol 10 (2) ◽  
pp. 135-154 ◽  
Author(s):  
Ifigeneia Douvitsa ◽  
Demosthenis Kassavetis
Keyword(s):  
Design Methodology ◽  
Water Distribution ◽  
Water Privatization ◽  
Negative Effects ◽  
Content Type ◽  
Negative Results ◽  
Viable Solution ◽  
Water Provision ◽  
First Time ◽  
Practical Implications

Purpose – The aim of this article is to investigate the organization of water cooperatives in Greece for the first time, as promoted by a spontaneous social mobilization called Initiative 136. The above attempt appears as an alternative proposition as opposed to the state-driven full privatization of EYATH S.A. Design/methodology/approach – This article presents previous work on water cooperatives and the negative effects of water privatization worldwide, relating it to water privatization in Greek reality through the prism of the current recession. Findings – While full privatization under the pressure of the economic crisis is very likely to yield significantly negative results, a transformation into a water cooperative might provide a viable solution. Research limitations/implications – Water cooperatives provide a solution for water distribution that is friendly for the consumer, the society and the environment. Practical implications – Application of a cooperative method of water provision in Greece could be a springboard for the use of the model in other areas. Originality/value – The article evaluates the privatization and cooperativization attempt of EYATH S.A. based on previous related research and considering Greece ' s current conditions.

Large-cap vs small-cap portfolio performance: new empirical evidence from ETFs

2019 ◽  
Vol 18 (1) ◽  
pp. 71-94
Author(s):  
Gerasimos Rompotis
Keyword(s):  
Design Methodology ◽  
Portfolio Performance ◽  
Exchange Traded Funds ◽  
Investment Strategies ◽  
Time Data ◽  
Content Type ◽  
Risk Characteristics ◽  
The Usa ◽  
First Time ◽  
Practical Implications

PurposeA well-documented pattern in the literature concerns the outperformance of small-cap stocks relative to their larger-cap counterparts. This paper aims to address the “small-cap versus large-cap” issue using for the first time data from the exchange traded funds (ETFs) industry.Design/methodology/approachSeveral raw return and risk-adjusted return metrics are estimated over the period 2012-2016.FindingsResults are partially supportive of the “size effect”. In particular, small-cap ETFs outperform large-cap ETFs in overall raw return terms even though they fail the risk test. However, outperformance is not consistent on an annual basis. When risk-adjusted returns are taken into consideration, small-cap ETFs are inferior to their large-cap counterparts.Research limitations/implicationsThis research only covers the ETF market in the USA. However, given the tremendous growth of ETF markets worldwide, a similar examination of the “small vs large capitalization” issue could be conducted with data from other developed ETF markets in Europe and Asia. In such a case, useful comparisons could be made, so that we could conclude whether the findings of the current study are unique and US-specific or whether they could be generalized across the several international ETF markets.Practical implicationsA possible generalization of the findings would entail that profitable investment strategies could be based on the different performance and risk characteristics of small- and large-cap ETFs.Originality/valueThis is the first study to examine the performance of ETFs investing in large-cap stock indicesvis-à-visthe performance of ETFs tracking indices comprised of small-cap stocks.

Bonding capability of Nigerian contracting firms

2018 ◽  
Vol 25 (6) ◽  
pp. 707-720 ◽  
Author(s):  
Ayodeji Emmanuel Oke
Keyword(s):  
Construction Projects ◽  
Design Methodology ◽  
Insurance Companies ◽  
State Governments ◽  
Legal Capacity ◽  
Years Of Experience ◽  
Past Performance ◽  
Content Type ◽  
Financial Strength ◽  
Practical Implications

Purpose The ability of construction contractors to engage in construction bond agreement with guarantors depends on capital, experience, capacity and continuity. Using these criteria, the purpose of this paper is to provide insights into the bonding capacity of Nigerian contractors. Design/methodology/approach Factors required for bonding were examined based on a set of questions addressed to managers of contracting firms and personnel involved in issuing bonds and guarantees in commercial banks and insurance companies. The scorecard approach was employed to determine the bonding capability of the contractors. Findings Contractors’ financial strength and past performance on previous projects are the two important factors considered by guarantors in granting bond to contractors. However, the condition surrounding the bond, the legal capacity of the guarantor to issue bond and the identity of the guarantor are mostly considered by contractors in approaching a potential guarantor. Using the scorecard approach, about one-third of contractors have the necessary requirements to engage in construction bond agreement with guarantors. This ability of contractors is affected by years of experience of the firm but not by their location nor years of experience of their manager. Practical implications It is necessary for contracting firms to increase their capital base through merging, borrowing, etc., and also engage experienced professionals and workers in the execution of construction projects, as this will eventually improve their bonding ability. Social implications The study is limited to construction contractors registered with Ondo and Lagos State Governments and guarantors that are banks and insurance companies in Nigeria. Originality/value The paper specified various areas of concerns for Nigerian contracting firms in their bid to enhance their bonding ability. This will help them in overcoming various challenges and bottlenecks that may arise in securing bonds and guarantees from guarantors.

Collaboration strategy selection in BIM-enabled construction projects: a perspective through typical collaboration profiles

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Guangchong Chen ◽  
Jiayu Chen ◽  
Yuchun Tang ◽  
Yan Ning ◽  
Qiming Li
Keyword(s):  
Construction Projects ◽  
Design Methodology ◽  
Latent Profile Analysis ◽  
Profile Analysis ◽  
Strategy Selection ◽  
Content Type ◽  
Comprehensive Literature Review ◽  
Collaborative Behavior ◽  
Selection Framework ◽  
Practical Implications

PurposeCollaboration is essential to BIM-enabled construction projects (BECPs). To facilitate collaboration, various strategies have been proposed. Usually, project team adopts single collaboration strategy for convenience. However, BIM-based collaboration is rather dynamic and exposed to a lot of barriers and risks, which easily changes collaboration conditions among partners. Therefore, better understanding of collaboration conditions in BECPs is crucial to develop flexible and suitable strategies. To fill in the gap, this study intends to identify typical collaboration profiles in BECPs and develop a profile-oriented strategy selection framework.Design/methodology/approachThis study establishes a six-dimensional collaborative behavior matric based on a comprehensive literature review to profile collaboration. Then a questionnaire survey is conducted to collect the collaboration data from 162 BECPs in China. Finally, latent profile analysis (LPA) is utilized to identify the typical collaboration profiles in BECPs.FindingsThrough LPA, four profiles are identified, including restricted collaboration profile, smarmy collaboration profile, intuitive collaboration profile, and modest collaboration profile. A profile-oriented strategy selection framework is also established to match strategies with collaboration profiles. Two major categories of strategies are proposed to promote these collaboration profiles including trust building and elevating strategies and collaborative behaviors facilitating strategies.Research limitations/implicationsThese identified profiles can provide an insightful understanding on the diversified collaboration conditions in BECPs.Practical implicationsThe profile-oriented strategy selection framework will help managers develop strategies flexibly to promote collaboration in BECPs.Originality/valueThis study validates four typical collaboration profiles in BECPs. Moreover, a profile-oriented strategy selection framework is also established for collaboration facilitation in BECPs.

Quantifying costs of the productivity loss due to schedule changes in construction projects

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jae-Seob Lee
Keyword(s):  
Construction Projects ◽  
Design Methodology ◽  
Impact Analysis ◽  
Productivity Loss ◽  
Content Type ◽  
Cost Impact ◽  
Analysis Technique ◽  
Lost Productivity ◽  
Change Order ◽  
Practical Implications

PurposeThe purpose of the paper is to develop a method to integrate the schedule-based analysis with a productivity-based analysis to prove and support the result of the damages calculation.Design/methodology/approachIn this paper, a “cost and schedule impact integration” (CSI2) model is proposed to objectively show and estimate lost productivity due to changes in construction projects.FindingsA schedule-based analysis to include separate tracking of change order costs can be used to predict productivity due to the delay and disruption; changes in construction projects almost always result in delay and disruption. However, the schedule-based analysis needs to be integrated with a productivity-based analysis to prove and support the result of the damages calculation.Practical implicationsThe results of this study expand upon construction practices for proving and quantifying lost productivity due to changes in construction projects.Originality/valueThe contribution of the paper is summarized as the introduction of a “schedule impact analysis” into a “cost impact analysis” technique to assess the damages, as well as to demonstrate the labor productivity impact due to delay and disruption in construction projects.

scholarly journals An analysis of a structured benchmarking project

2019 ◽  
Vol 26 (5) ◽  
pp. 1431-1450 ◽  
Author(s):  
Ahmad Abdullah Al Nuseirat ◽  
Zeyad Mohammad El Kahlout ◽  
Ahmed Abbas ◽  
Dotun Adebanjo ◽  
Prattana Punnakitikashem ◽  
...  
Keyword(s):  
Design Methodology ◽  
Academic Research ◽  
Case Study Methodology ◽  
Content Type ◽  
External Stakeholders ◽  
Study Methodology ◽  
Project Data ◽  
First Time ◽  
Practical Implications

Purpose The purpose of this paper is to investigate a benchmarking project carried out by the Dubai Electricity and Water Authority (DEWA) as part of a structured benchmarking initiative. The project was based on the TRADE benchmarking methodology and this paper examines the tools, activities and outcomes that relate to each stage of the adopted methodology. Design/methodology/approach This study is based on case study methodology. Data were collected from various sources including analysis of project reports written by DEWA’s benchmarking team reporting on their activities during the project. Data were also collected from four project presentations given at different stages of the project. In addition, the research team held three meetings with the DEWA benchmarking team at different stages of the benchmarking project. Findings The results show the key challenges and successes faced during each stage of the benchmarking project. It indicates the actions taken to overcome the challenges and the role played by internal and external stakeholders in facilitating the success of the benchmarking project. Practical implications The study presents information that would guide organisations that wish to carry out a benchmarking project – and particularly those implementing benchmarking for the first time. The study provides a summary of the key lessons learnt by DEWA’s benchmarking team as a guide for other organisations. Originality/value Academic research has not adequately examined and analysed the stage-by-stage elements of a benchmarking project from the perspective of the implementing organisation. This study addresses this gap by detailing and analysing the experiences of a benchmarking project by tracking the stage-by-stage activities of the benchmarking team.

The bottleneck of intrapreneurship: are social positions and held expectations constraints in organizations’ entrepreneur process? A conceptual view

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Suat Begeç ◽  
Korhan Arun
Keyword(s):  
Personality Traits ◽  
Design Methodology ◽  
Role Theory ◽  
Individual Characteristics ◽  
Social Expectations ◽  
Content Type ◽  
Interactionist Perspective ◽  
First Time ◽  
Unique Potential ◽  
Practical Implications

Purpose This study aims to develop conceptual arguments about intrapreneurship relative to role theory. Design/methodology/approach The challenge to the intrapreneurship concept is that no single or combination of personality traits, individual characteristics or attitudes can fulfill the causes of the phenomenon, as these factors are context-bound. One explanation for individual- and macro-level contrasting outcomes is the diverging effect of expectations. The structural and interactionist perspective of sociology is used to understand the intrapreneurship concept because intrapreneurs live within a society and shape their course per the expectations of others. Findings Intrapreneurs have been trying to infer about what is seen as crucial individually related to interactions within the existing context; more importantly, acting in an intrapreneurship role can be defined and learned by expectations. Practical implications With the convenient expectations from other members, families or environments, organization members will value the innovation and self-direction of intrapreneurship more highly that such a taste for an acting role may be an important factor in the decision to become an intrapreneur. Originality/value To the best of the authors’ knowledge, the paper emphasized for the first time that the consequences of exposure to social expectations for the development of intrapreneur roles, particularly the broad portfolios of skills and motivation, are relevant to intrapreneurship. Previous approaches depend on individuals, organizations or the environment to have different approaches to likely employees to be intrapreneurs. The paper first argues that context is important for understanding how and why context can be linked to individual intrapreneurs and how intrapreneurship can be defined as roles rather than a task or unique potential entrepreneurs.

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