A hybrid method for matching analysis of construction project characteristics with operation and maintenance requirements

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Guofeng Ma ◽  
Zhijiang Wu ◽  
Ming Wu ◽  
Shanshan Shang
Keyword(s):  
Construction Project ◽  
Influential Factors ◽  
Order Parameters ◽  
Content Type ◽  
Operation And Maintenance ◽  
Maintenance Stage ◽  
Project Characteristics ◽  
Correlation Strength ◽  
Maintenance Requirements ◽  
The Cost

PurposeThe purpose of this study is to extract the real requirements of the owner (or users) for the construction project in the operation and maintenance stage completely and accurately and carry out the construction based on the requirements, to make the project status and operation and maintenance requirements (RO&M) consistent after delivered.Design/methodology/approachThis study creatively proposes the operation and maintenance functions deployment (OMFD) under RO&M. In addition, the OPAR (naming is made up of the initials of owners, project, analysis and result) model is constructed to fully identify the requirements of both owners and projects. In this study, three typical construction projects are taken as examples to calculate the correlation strength between project characteristics (PC) and operation and maintenance requirements through the Apriori algorithm, and order parameters are obtained from the cost chain.FindingsThis study found that there are significant differences in the correlation strength between 11 types of RO&M and PC, in which the “cost of types” (TC) correlation of residential housing and factory buildings is the largest, while the largest correlation demand of commercial buildings is “safety of types” (TS) and “system” (S). Simultaneously, through the calculation of order parameters, the most influential factors on project characteristics are obtained.Practical implicationsThis study could effectively help the owner (or users) to check whether the delivered project fully satisfy their real requirements and also extract the key technical points to realize RO&M, which can guide the accurate construction of the same type of projects.Originality/valueThis research establishes OPAR model to accurately identify the requirements of the project in the operation and maintenance stage and establishes the association rules between the requirements and the construction scheme, which is helpful for the project to construct under the expected requirements.

Exploring influential factors leading to the poor performance of public construction project in Ethiopia using structural equation modelling

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Benti Gadisa ◽  
Hong Zhou
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Poor Performance ◽  
Project Performance ◽  
Influential Factors ◽  
Project Design ◽  
Content Type ◽  
Factors Affecting ◽  
Public Construction

PurposeIt is well recognized that the construction industry is characterised by inefficient and ineffective service delivery due to various causative factors. Thus this study aims to examine the influential factors affecting public construction project performance in Ethiopia to improve the industry's service delivery.Design/methodology/approachFrom the extensive literature reviewed, 58 potential factors affecting construction project performance have been compiled. Based on the evidence accumulated, the conceptual model of this paper has been developed. By using survey questionnaires, valuable data were collected from the construction industry professionals in Ethiopia; analysed and interpreted with the use of both SPSS and AMOS software.FindingsIt is concluded that failure factors related to the “performance” of the contractor, the “capability” of the owner, the “project design-procurement process,” and project contract management can significantly contribute to the poor performance of public construction projects in Ethiopia. Ten key factors include inadequate contractor capacity, weak project site management and supervision, weak project management skills and capabilities of the owner, additional work orders, delayed payment, lack of comprehensive project plans between parties and incomplete project design, rising material prices, ineffective project schedules, and cost management, rising market prices and devaluation of the currency.Research limitations/implicationsThe scope of this study confined to public projects in Ethiopia. It suggests that further research needs to consider public and private construction from a comprehensive perspective in the developing countries.Practical implicationsIt provides practitioners with information and guidance on the factors that affect the performance of construction projects.Originality/valueIt provides inclusive evidence related to many factors that affect the performance of public construction projects.

A unique mathematical optimization approach for examination of failure effects on electric power transmission grids by combined environmental and economic indicators

2017 ◽  
Vol 14 (3) ◽  
pp. 237-248
Author(s):  
Ali Azadeh ◽  
Maryam Sattarian ◽  
Azadeh Arjmand
Keyword(s):  
Power System ◽  
Electric Power ◽  
Power Flow ◽  
Power Transmission ◽  
Environmental Issues ◽  
Influential Factors ◽  
Optimization Approach ◽  
Content Type ◽  
Total Cost ◽  
The Cost

Purpose To achieve the optimum performance of electric transmission power system performance, the possibility of generators’ failure and the consequences are amongst the most important and real assumptions which should be taken into consideration. This paper aims to recognize the most influential factors on generators’ failures that can have a deep effect on the total cost and environmental issues. The integrated proposed approach is useful for investigating the generators’ failure effects on the performance of electric power transmission grids from the economic and environmental perspectives. In other words, the cost and pollution minimization policies are considered to decrease the unfavorable generators’ failure effects on electric power flow. Design/methodology/approach The data used in this study are gathered from a real case in USA in first step, the influential generator points that their failure has a significant effect on the objective function, have been recognized. Then, different failure scenarios are defined, and the optimum values in each of these scenarios through the GAMS modeling software are found. Consequently, by using a two-level factorial design approach, the critical generators across the power grid are determined. Findings The results show that by using such information, it is possible to detect the significant nodes in the power system grid and have a better maintenance plan. In addition, by means of this analysis and changing the capacity of main generators, it is possible to significantly reduce the operation costs. By comparing the indexes in case of the generator’s location, it seems that some of them are critical because of their capacity and position in the network (as their failure causes infeasibility in the model). Also, some of these deficiencies caused considerable index changes and critical consequences. Practical implications The integrated proposed approach is useful for investigating the generators’ failure effects on the performance of electric power transmission grids from the economic and environmental perspectives. In other words, the cost and pollution minimization policies are considered to decrease the unfavorable generators’ failure effects on electric power flow. Social implications This paper endeavors to recognize the most influential factors on generators’ failures that can have a deep effect on the total cost and environmental issues. Originality/value The integrated proposed approach is useful for investigating the generators’ failure effects on the performance of electric power transmission grids from the economic and environmental perspectives. In other words, the cost and pollution minimization policies are considered to decrease the unfavorable generators’ failure effects on electric power flow.

Validation of an integrated influential factors (IIFs) model as a panacea to curb projects completion delay in Yemen

2019 ◽  
Vol 10 (3) ◽  
pp. 793-811
Author(s):  
Najib Al-Fadhali ◽  
Dodo Mansir ◽  
Rozlin Zainal
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Adaptive Controller ◽  
Specific Model ◽  
Influential Factors ◽  
Project Delivery ◽  
Cost Overrun ◽  
Local Conditions ◽  
Content Type ◽  
Internal Stakeholders

Purpose Influential factors attributed to causing project completion delay (PCD) differ because of prevailing variability of local conditions. Construction projects specifically in Yemen (and other developing countries) experience devastating effects of PCD which include litigation, cost overrun, arbitration, abandonment and failure. While existing works have investigated the causes and effects of PCD, not much exist on approaches to optimizing its occurrence in Yemen. In a bid to enhance the effects of PCD in Yemen, the integrated influential factors (IIFs), which is a construction-party specific model, was developed to mitigate the effects of PCD in Yemen. As a build up to the development of this model, this paper aims to validate the IIFs model with a view to foster its application to enhance PCD in construction project delivery in Yemen. Design/methodology/approach The validation of the IIFs model was done through seeking the opinions of 12 selected construction industry experts. This involved using a structured questionnaire to seek information on the sustainability of implementing the IIFs model. Findings The findings revealed that if the IIFs model is vigorously implemented, it would go a long way in curbing delay in the delivery of construction projects, making construction delivery less risky due to the effects of delay. Research limitations/implications The study is limited to only influential factors of internal stakeholders of the construction phase. Similarly, the study was only conducted in the state of Sana'a, Yemen. The implication of the adoption of the IIFs model is that it can hopefully serve as an adaptive controller to construction project delivery relative to the specific parameters and factors investigated in this study. Originality/value The IIFs model is a novel approach to optimizing PCD in Yemen specific to both the construction-phase and internal stakeholders. Existing studies on PCD in Yemen, although investigating the causes and effect of PCD, hardly proffer any approach to optimizing PCD for successful construction project delivery.

Asymmetry of stakeholders’ perceptions as an obstacle for collaboration in inter-organizational projects

2019 ◽  
Vol 13 (3) ◽  
pp. 467-482
Author(s):  
Alejandro Romero-Torres
Keyword(s):  
Influential Factors ◽  
Geographic Proximity ◽  
Content Type ◽  
Project Organizations ◽  
Industrial Projects ◽  
Technological Level ◽  
Organizational Collaboration ◽  
The Cost ◽  
Practical Implications ◽  
Different Levels

Purpose The purpose of this paper is to overlook influential factors associated with the collaboration itself, and to explore the effect of these factors on inter-organizational relationship. Design/methodology/approach This paper analyses two different technology projects requiring inter-organization collaboration for implementing medicine traceability: end-to-end verification system and e-pedigree. Based on a survey where 72 pharmaceutical organizations exposed their perceptions about each technological project, collaboration factors are identified. Findings This paper shows that pharmaceutical organizations in this study perceived differently the cost and benefits from traceability project. Organizations involved experience neither organizational nor technological proximity, impacting negatively collaboration in the inter-organizational project. Practical implications To strengthen collaboration, organization from different levels should consider how close they are each other, and this is at the geographic, organizational and technological level. Geographic proximity is defined as physical closeness, organizational proximity can be understood as the degree to which organizations are similar in interests and structure, and technological proximity concerns the similarity between the systems used to mediate communication and store information. Originality/value This paper presents empirical evidence on inter-organizational collaboration for industrial projects (i.e. implementing medicine traceability systems). It demonstrates proximity is a significant factor in producing inter-organizational collaboration success. Indeed, organizations experiencing proximity have a better knowledge of actors involved in the inter-organization project.

scholarly journals Life Cycle Cost, Energy and Carbon Assessments of Beijing-Shanghai High-Speed Railway

2019 ◽  
Vol 12 (1) ◽  
pp. 206 ◽  
Author(s):  
Sakdirat Kaewunruen ◽  
Jessada Sresakoolchai ◽  
Junying Peng
Keyword(s):  
Life Cycle ◽  
Energy Consumption ◽  
Carbon Emissions ◽  
Life Cycle Cost ◽  
High Speed ◽  
Construction Stage ◽  
High Speed Railway ◽  
Operation And Maintenance ◽  
Maintenance Stage ◽  
The Cost

The Beijing-Shanghai High-Speed Railway (HSR) is one of the most important railways in China, but it also has impacts on the economy and the environment while creating social benefits. This paper uses a life cycle assessment (LCA) method and a life cycle cost (LCC) analysis method to summarize the energy consumption, carbon emissions and costs of the Beijing-Shanghai HSR from the perspective of life cycle, and proposes some corresponding suggestions based on the results. The research objective of this paper is to analyse the carbon emissions, energy consumption, and costs of the rail system which includes the structure of the track and earthwork of the Beijing-Shanghai HSR during four stages: conception stage, construction stage, operation and maintenance stage, and disposal stage. It is concluded that the majority of the carbon emissions and energy consumption of the entire rail system are from the construction stage, accounting for 64.86% and 54.31% respectively. It is followed by the operation and maintenance stage with 31.60% and 35.32% respectively. In contrast, the amount of carbon emissions and energy consumption from the conception stage is too small to be considered. Furthermore, cement is the major contributor to the carbon emissions and energy consumption during the construction stage. As for the cost, the construction stage spends the largest amount of money (US$4614.00 million), followed by the operation and maintenance stage (US$910.61 million). Improving production technologies and choosing construction machinery are proposed to reduce the cost and protect the environment.

Corporate finance approaches of Icelandic private firms after the financial crisis

2018 ◽  
Vol 44 (11) ◽  
pp. 1274-1291 ◽  
Author(s):  
Twahir Khalfan ◽  
Jón Þór Sturluson
Keyword(s):  
Financial Crisis ◽  
Corporate Finance ◽  
Net Present Value ◽  
Cost Of Capital ◽  
Banking System ◽  
Capital Budgeting ◽  
Influential Factors ◽  
Private Firms ◽  
Content Type ◽  
The Cost

Purpose The purpose of this paper is to provide insights about corporate finance decision-making of Icelandic private firms that have experienced a dramatic financial crisis in 2008–2010. It observes the capital budgeting methods and cost of capital techniques for private firms after a systemic financial crisis. Moreover, the paper identifies the main determinants of capital structure and capita rationing during this period. Design/methodology/approach This paper surveys corporate finance practices of 80 out of the 250 largest bank-centred private firms after the financial crisis. Findings Highly leveraged private firms that have experienced a dramatic financial crisis in 2008–2010 use payback and net present value techniques almost at a similar rate when assessing new investments. The sample firms largely rely on the cost of debt to determine the cost of invested capital. However, capital asset pricing model is the most popular method among the few sample firms that estimate the cost of equity. The need to maintain financial flexibility and cost associated with financial distress are the most influential factors regarding capital structures, whereas investment practices avoid capital rationing associated with the financial crisis. Research limitations/implications The limitations of the study are that it is country specific and absence of data over the period before the financial crisis that may have been applied to present more insight into this topic. Practical implications Sample firms fail to incorporate appropriate cost of capital methods and as the result they are likely to apply incorrect “hurdle rate” which could undervalue or overvalue new investments. This paper indicates that capital budgeting decisions by managers of the bank-centred Icelandic private firms who tend to be major shareholders do not reflect the tendency to expropriate outside and minority investors. Private firms that have emerged from the meltdown of the financial system highlighting the importance of “special” lending relationship in assisting bank-centred firms to avoid the severity of financial constraints. Originality/value This study employs a failure of the banking system to provide new knowledge about corporate finance practices of private firms after the financial crisis that have curtailed the access to both internal and external sources of capital.

Recognition of Energy-Saving Influencing Factors of Construction Project Lifecycle Based on Knowledge Map

2020 ◽  
pp. 2159017
Author(s):  
Liang Zhao ◽  
Wei Zhang ◽  
Wenshun Wang
Keyword(s):  
Energy Saving ◽  
Influencing Factors ◽  
Construction Projects ◽  
Construction Project ◽  
Research Literature ◽  
Knowledge Map ◽  
Operation And Maintenance ◽  
Maintenance Stage ◽  
And Control ◽  
Project Lifecycle

With the purpose of clarifying the energy-saving influencing factors of the participants in the construction project, qualitative analysis and scientific measurement analysis were combined in this paper to define and identify the energy-saving influencing factors of the construction project lifecycle. First, a qualitative analysis of the research literature of the natural science index (SCI) and social science citation index (SSCI) databases was conducted through a combination of literature analysis and expert interviews, constructing a list of the energy-saving influencing factors in the lifecycle of construction projects. Second, the knowledge map of the energy-saving research literature of construction projects in the past 20 years from the Web of Science (WOS) database was drawn through Citespace. Then the hotspots of energy-saving research in international construction projects were identified through keyword co-occurrence map as energy saving, energy efficiency, and energy consumption. The main research subjects were divided into four categories: energy-saving management and incentive policies, project users’ energy-saving behaviors and awareness, various energy-saving new materials and technologies, and energy-saving management and control at the operation and maintenance stage. Next, nine main clusters on energy-saving research were identified through cluster analysis, mainly distributed in various energy-saving technology research, energy-saving behavior and power research of owners and residents, policy and regulation research, and energy-saving management and control research in the operation and maintenance stage. Finally, the knowledge mapping analysis results were classified and defined according to the action scope of each stage of the construction project, and the identification of the energy-saving influencing factors in the construction project lifecycle was completed.

The cost-effectiveness of insulin analogs and regular insulin for diabetes control: a case study in Iran

2020 ◽  
Vol 33 (4/5) ◽  
pp. 323-331
Author(s):  
Mohsen pakdaman ◽  
Raheleh akbari ◽  
Hamid reza Dehghan ◽  
Asra Asgharzadeh ◽  
Mahdieh Namayandeh
Keyword(s):  
Cost Effectiveness ◽  
Cost Effective ◽  
Regular Insulin ◽  
Diabetes Control ◽  
Diabetic Patients ◽  
Insulin Analogs ◽  
Content Type ◽  
Patients With Diabetes ◽  
The Government ◽  
The Cost

PurposeFor years, traditional techniques have been used for diabetes treatment. There are two major types of insulin: insulin analogs and regular insulin. Insulin analogs are similar to regular insulin and lead to changes in pharmacokinetic and pharmacodynamic properties. The purpose of the present research was to determine the cost-effectiveness of insulin analogs versus regular insulin for diabetes control in Yazd Diabetes Center in 2017.Design/methodology/approachIn this descriptive–analytical research, the cost-effectiveness index was used to compare insulin analogs and regular insulin (pen/vial) for treatment of diabetes. Data were analyzed in the TreeAge Software and a decision tree was constructed. A 10% discount rate was used for ICER sensitivity analysis. Cost-effectiveness was examined from a provider's perspective.FindingsQALY was calculated to be 0.2 for diabetic patients using insulin analogs and 0.05 for those using regular insulin. The average cost was $3.228 for analog users and $1.826 for regular insulin users. An ICER of $0.093506/QALY was obtained. The present findings suggest that insulin analogs are more cost-effective than regular insulin.Originality/valueThis study was conducted using a cost-effectiveness analysis to evaluate insulin analogs versus regular insulin in controlling diabetes. The results of study are helpful to the government to allocate more resources to apply the cost-effective method of the treatment and to protect patients with diabetes from the high cost of treatment.

Evaluating the cost and benefits of earthquake protection of buildings

2018 ◽  
Vol 11 (2) ◽  
pp. 263-278 ◽  
Author(s):  
Benedetto Manganelli ◽  
Marco Vona ◽  
Pierfrancesco De Paola
Keyword(s):  
Real Estate ◽  
Seismic Risk ◽  
Risk Mitigation ◽  
Tax Incentives ◽  
Seismic Retrofitting ◽  
Content Type ◽  
Seismic Risk Mitigation ◽  
The Cost ◽  
Earthquake Protection ◽  
Real Estate Assets

Purpose The purpose of this study is the evaluation of the cost and benefits of earthquake protection of buildings to verify whether the legislative push, through tax incentives, will produce results and lead to a redevelopment of private real estate assets. Design/methodology/approach Through contingent valuation, this research aims to measure the propensity of homeowners to invest in the seismic security of their properties. The sample of homeowners was selected in a southern Italy city, which was characterized by a medium-high seismic hazard. The willingness to pay, once made independent from the family income, was compared with the actual cost of a seismic retrofitting technique to assess its cost-effectiveness. Findings The analysis developed on an example case shows that the economic sustainability of the intervention is only verified when considering the current tax incentives for this type of intervention. Practical implications Choosing to introduce a system to compulsory insurance against seismic risk could certainly be a strong incentive for the implementation of retrofitting interventions on private real estate assets. In this direction, investigations like this can be fundamental to establish the fair risk premium. Originality/value The need for effective seismic risk mitigation policies is also based on the growing awareness of the, often fatal, effects of seismic events, emphasized by the recent medium and high intensity events that hit Italy. The issue of the security of residential buildings is therefore a very topical issue in view of their high seismic vulnerability and the vast number of buildings requiring major seismic retrofitting. Therefore, the propensity of owners to intervene in improving the seismic performance of their properties can be crucial in seismic risk mitigation.

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