Dimensions of cost misperceptions obstructing the adoption of sustainable buildings

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samuel Ekung ◽  
Isaac Odesola ◽  
Michael Oladokun
Keyword(s):  
Delphi Study ◽  
Risk Perceptions ◽  
Green Building ◽  
Cost Information ◽  
Sustainable Buildings ◽  
Content Type ◽  
Self Study ◽  
Emerging Issues ◽  
The Cost ◽  
Improve Cost

PurposeAcross the globe, the dearth of certainty about the cost of sustainable buildings (SBs) remains a critical disincentive to their adoption. This study explored the factually incorrect knowledge about the cost of SBs and their implications on adoption.Design/methodology/approachThe study adopted sequenced mixed qualitative and quantitative approaches involving a literature review, Delphi study and survey. Semi-structured and structured self-study questionnaires were administered to a random sample of green building experts, researchers and registered construction professionals with deep knowledge of SB. The dataset from 254 stakeholders was analysed for commonality, principal components and critical misperceptions using multivariate approaches.FindingsThe predominant misperceptions in the study linked low adoption of SB to cost premium, portray cost premium as a property of luxury sustainable features and suggest related practices are suitable for exemplary projects only. The critical misperceptions produced various misinterpretations that inhibit the adoption of SB through the dearth of policies, increased complexities and inflation of budget to curb perceived risks.Practical implicationsThe study buttressed the imperative to improve cost information, knowledge, skills and stakeholders' risk perceptions to increase SB adoption. The results provide insight into the regional misperceptions and knowledge gaps that could explain the low adoption of SB in a typical emerging green market.Originality/valueThe study showed that the prevalent knowledge about the cost of SB among construction stakeholders are unsupported beliefs and directs attention to emerging issues critical to SBs' adoption in emerging markets.

scholarly journals Demystifying cost misperception as a challenge to green building adoption in Nigeria

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samuel Ekung ◽  
Isaac Odesola ◽  
Alex Opoku
Keyword(s):  
Delphi Study ◽  
Risk Perceptions ◽  
Performance Metrics ◽  
Cost Management ◽  
Green Building ◽  
Cost Information ◽  
Content Type ◽  
Adoption Decision ◽  
Adoption Decisions ◽  
Sustainability Accounting

Purpose The pertinent information about green buildings (GB) is laden with cost misperceptions (CM) that are paraded into adoption decisions without factual clarifications. The unsupported beliefs are fundamental to the disparaging low adoption of related technologies globally. The purpose of this paper is to explore the causes of CMs among construction stakeholders and why is it difficult to discredit this information? Design/methodology/approach The research adopted two-tier approaches involving a Delphi study and a questionnaire survey. Construction stakeholders and GB experts, totalling 415 were surveyed, while 12 professionals participated in the Delphi study. This study analysed data from 254 valid responses using Factor Analysis, Fussy Set Theory and Kruskal Wallis test to explain why CMs are prevalent. Findings The causes of CMs converge towards seven principal factors including low knowledge of GB practices, non-familiarity with performance metrics, inadequate evidence, poor-risk perceptions and reliance on the costs of exemplar projects. The results were explained using gaps in cost management, knowledge and sustainability accounting to show the critical improvements that can benefit GB adoption. Practical implications CMs are not abstract but develop from patterns that can be detected and understood within a specific context. Growing GB projects within a region would improve cost information, sustainability accounting, cost management and quality of evidence. GB cost information paraded into adoption decision processes are overestimated and overvalued beliefs of their financial implications. Tackling the important sources of CMs in the study is appropriate to improve rational decision-making aiding GB adoption. Originality/value This study untied causes of negative dispositions towards the cost of GB that distort stakeholders’ adoption decisions.

Essential features of a building services standard method of measurement in Malaysia

2015 ◽  
Vol 22 (6) ◽  
pp. 749-770 ◽  
Author(s):  
Ganiyu Amuda-Yusuf ◽  
Sarajul Fikri Mohamed
Keyword(s):  
Construction Industry ◽  
Standard Method ◽  
Data Exchange ◽  
Classification Systems ◽  
Cost Information ◽  
Content Type ◽  
Information And Computer Technology ◽  
Priority Ranking ◽  
Method Of Measurement ◽  
The Cost

Purpose – The purpose of this paper is to examine the need to develop building service standard method of measurement (BSSMM) that would provide a home ground advantage and a framework for managing the cost of building services by quantity surveyors. Design/methodology/approach – A review of previous research on the rules of measurement was carried out. This exercise provides the basis for questionnaire design which was administered to quantity surveyors in Malaysia construction industry. Findings – The results indicated the need to develop BSSMM. In total, 23 variables were identified as essential features of such standard method of measurement. These variables were grouped into three categories and a priority ranking of them was carried out. The analysis revealed a strong agreement among quantity surveyors on the priority ranking of the essential features of the BSSMM. Research limitations/implications – Although, the research would assist industry stakeholders in developing BSSMM that reflects local and international best practices, there is need to further investigate how the rules of the BSSMM could be aligned with construction industry classification systems. Practical implications – The availability of information and computer technology (ICT) tools has transformed the traditional practices in the industry and offered values to quantity surveyors, but if quantity surveyors’ tools cannot be consolidated and incorporated into emerging ICT applications, then QS collaboration will be difficult, and the requirements for electronic data exchange will be impractical. Therefore, this type of standard method of measurement will facilitate cross-referencing and coordination between BoQ and other documents such as drawings, specifications and tender produced by other project participants and thereby lay efficient foundation for effective collaboration of quantity surveyors in BIM model. In addition, the BSSMM will not only comply with local industry practices, it will also be internationally compatible. Originality/value – Adoption of a structured format based on BSSMM to present building services cost information is essential in view of the increase in the value and complexity of building services in modern buildings. However, there is need to enhance quantity surveyors’ knowledge in the technology and cost management of building services so as to ensure the reliability of cost advice provided to clients. This goal would be partly achieved through education and training of Quantity Surveyors/Cost Consultants in the interpretation and use of the rules of an SMM.

scholarly journals Managing quality of cost information in clinical costing: evidence across seven countries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Christopher S. Chapman ◽  
Anja Kern ◽  
Aziza Laguecir ◽  
Gerardine Doyle ◽  
Nathalie Angelé-Halgand ◽  
...  
Keyword(s):  
Design Methodology ◽  
Cost Information ◽  
Content Type ◽  
Regulatory Guidance ◽  
Trade Offs ◽  
Similar Range ◽  
Different Dimensions ◽  
The Cost ◽  
The Impact

PurposeThe purpose is to assess the impact of clinical costing approaches on the quality of cost information in seven countries (Denmark, England, France, Germany, Ireland, the Netherlands and Portugal).Design/methodology/approachCosting practices in seven countries were analysed via questionnaires, interviews and relevant published material.FindingsAlthough clinical costing is intended to support a similar range of purposes, countries display considerable diversity in their approaches to costing in terms of the level of detail contained in regulatory guidance and the percentage of providers subject to such guidance for tariff setting. Guidance in all countries involves a mix of costing methods.Research limitations/implicationsThe authors propose a two-dimensional Materiality and Quality Score (2D MAQS) of costing systems that can support the complex trade-offs in managing the quality of cost information at both policy and provider level, and between financial and clinical concerns.Originality/valueThe authors explore the trade-offs between different dimensions of the quality (accuracy, decision relevance and standardization) and the cost of collecting and analysing cost information for disparate purposes.

scholarly journals Improving the cost estimates of complex projects in the project-based industries

2017 ◽  
Vol 7 (2) ◽  
pp. 173-184 ◽  
Author(s):  
Pournima Sridarran ◽  
Kaushal Keraminiyage ◽  
Leon Herszon
Keyword(s):  
Best Practices ◽  
Cost Estimation ◽  
Estimation Accuracy ◽  
Effective Practices ◽  
Accurate Estimation ◽  
Content Type ◽  
Complex Projects ◽  
Cost Implications ◽  
The Cost ◽  
Improve Cost

Purpose Project-based industries face major challenges in controlling project cost and completing within the budget. This is a critical issue as it often connects to the main objectives of any project. However, accurate estimation at the beginning of the project is difficult. Scholars argue that project complexity is a major contributor to cost estimation inaccuracies. Therefore, recognising the priorities of acknowledging complexity dimensions in cost estimation across similar industries is beneficial in identifying effective practices to reduce cost implications. Hence, the purpose of this paper is to identify the level of importance given to different complexity dimensions in cost estimation and to recognise best practices to improve cost estimation accuracy. Design/methodology/approach An online questionnaire survey was conducted among professionals including estimators, project managers, and quantity surveyors to rank the identified complexity dimensions based on their impacts in cost estimation accuracy. Besides, in-depth interviews were conducted among experts and practitioners from different industries, in order to extract effective practices to improve the cost estimation process of complex projects. Findings Study results show that risk, project and product size, and time frame are the high-impact complexity dimensions on cost estimation, which need more attention in reducing unforeseen cost implications. Moreover, study suggests that implementing a knowledge sharing system will be beneficial to acquire reliable and adequate information for cost estimation. Further, appropriate staffing, network enhancement, risk management, and circumspect estimation are some of the suggestions to improve cost estimation of complex projects. Originality/value The study finally provides suggestions to improve cost estimation in complex projects. Further, the results are expected to be beneficial to learn lessons from different industries and to exchange best practices.

My home is your castle: forecasting the future of accommodation sharing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Shari-Estelle Gassmann ◽  
Robin Nunkoo ◽  
Victor Tiberius ◽  
Sascha Kraus
Keyword(s):  
Delphi Study ◽  
Theoretical Understanding ◽  
Future Scenario ◽  
Content Type ◽  
Industry Regulation ◽  
The Past ◽  
The Future ◽  
The Cost ◽  
Practical Implications

Purpose This paper aims to formulate the most probable future scenario for the accommodation sharing sector within the next five to ten years. It addresses the following six thematic aspects: relevance, different forms of accommodation sharing, users, hosts, platforms, and finally, industry regulation. Design/methodology/approach This study identifies the most likely holistic future scenario by conducting a two-stage Delphi study involving 59 expert panelists. It addresses 33 projections for six thematic sections of the accommodation sharing industry: relevance, different forms of accommodation sharing, users, hosts, platforms, and finally, industry regulation. Findings The results indicate that the number of shared accommodations and users of home-sharing will increase. Moreover, the cost advantage is the predominant driver for users to engage in the accommodation sharing segment, and for the hosts, the generation of an extra income is the primary incentive. Finally, the regulation within this industry is expected to be more effective in the foreseeable future. Practical implications The results are critical, not only to advance our theoretical understanding and stimulate critical discussions on the long-term development of accommodation sharing but also to assist governments and policymakers who have an interest in developing and regulating this sector and developers seeking business opportunities. Originality/value While there is ample knowledge about the past and current development of accommodation sharing in tourism, little is understood about its potential future development and implications for consumers, the economy, and society. To date, no scientific research is available that develops scenarios about the future of accommodation sharing.

scholarly journals Should consumers request cost transparency?

2015 ◽  
Vol 49 (11/12) ◽  
pp. 1961-1979 ◽  
Author(s):  
Antonis C. Simintiras ◽  
Yogesh K Dwivedi ◽  
Geetanjali Kaushik ◽  
Nripendra P. Rana
Keyword(s):  
Consumer Choice ◽  
Consumer Satisfaction ◽  
Unit Cost ◽  
Price Fairness ◽  
Cost Information ◽  
Content Type ◽  
Cost Transparency ◽  
Body Of Knowledge ◽  
The Cost ◽  
Conceptual Work

Purpose – The purpose of this paper is to propose that consumer choice be guided by price fairness judgements to increase consumer satisfaction and subsequently enhance market efficiency. Consumers en masse lack the information to judge price fairness, thereby causing their ability to influence the economy to be overlooked. Design/methodology/approach – This is an argumentative and conceptual work that aims to initiate a debate on this important yet unexplored issue. The arguments presented in the paper are based on economic and technological considerations. Findings – The measure for enabling a consumer price fairness judgement is unit cost information – the cost incurred by a firm to produce a product and/or service. The benefits and challenges stemming from the availability of unit cost information (i.e. cost transparency) to consumers and companies are presented and the likely impact of cost transparency on addressing information asymmetries between buyers and sellers are discussed. Originality/value – Although a significant body of knowledge exists on issues such as price transparency and how it is driven and enabled by the growth of the Internet, there is little or no evidence of research yet on issues related to cost transparency. The authors believe this work would create a new line of research for scholarly community leading to an impact on practice.

A frontier-based hierarchical clustering for airport efficiency benchmarking

2014 ◽  
Vol 21 (4) ◽  
pp. 486-508 ◽  
Author(s):  
Héctor Rodríguez-Déniz ◽  
Augusto Voltes-Dorta
Keyword(s):  
Hierarchical Clustering ◽  
Ad Hoc ◽  
Low Cost ◽  
Cost Performance ◽  
Content Type ◽  
Variable Weighting ◽  
The Cost ◽  
Factor Shares ◽  
Input Prices ◽  
Improve Cost

Purpose – When large samples are used to estimate airport efficiency, clustering is a necessary step before carrying out any benchmarking analysis. However, the existing literature has paid little attention to developing a robust methodology for airport classification, instead relying on ad hoc techniques. In order to address this issue, this paper aims to develop a new airport clustering procedure. Design/methodology/approach – A frontier-based hierarchical clustering procedure is developed. An application to cost-efficiency benchmarking is presented using the cost function parameters available in the literature. A cross-section of worldwide airports is clustered according to the relevant outputs and input prices, with cost elasticities and factor shares serving as optimal variable weights. Findings – The authors found 17 distinct airport clusters without any ad hoc input. Factors like the use of larger aircraft or the dominance of low-cost carriers are shown to improve cost performance in the airport industry. Practical implications – The proposed method allows for a more precise identification of the efficiency benchmarks, which are characterized by a set of cophenetic distances to their “peers”. Furthermore, the resulting classification can also be used to benchmark other indicators linked to airport costs, such as aeronautical charges or service quality. Originality/value – This paper contributed to airport clustering by providing the first discussion and application of optimal variable weighting. In regard to efficiency benchmarking, the paper aims to overcome the limitations of previous papers by defining a method that is not dependent on performance, but on technology, and that can be easily adapted to large airport datasets.

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.

scholarly journals A cost analysis to address issues of budget constraints on the implementation of the indoor residual spray programme in two districts of Maputo Province, Mozambique

2021 ◽  
Vol 20 (1) ◽  
Author(s):  
Neide Canana
Keyword(s):  
Sensitivity Analysis ◽  
Cost Analysis ◽  
Financial Analysis ◽  
Indoor Residual Spraying ◽  
Economic Cost ◽  
Cost Information ◽  
Financial Cost ◽  
Provider Perspective ◽  
The Government ◽  
The Cost

Abstract Background It is frequently said that funding is essential to ensure optimal results from a malaria intervention control. However, in recent years, the capacity of the government of Mozambique to sustain the operational cost of indoor residual spraying (IRS) is facing numerous challenges due to restrictions of the Official Development Assistance. The purpose of the study was to estimate the cost of IRS operationalization in two districts of Maputo Province (Matutuíne and Namaacha) in Mozambique. The evidence produced in this study intends to provide decision-makers with insight into where they need to pay close attention in future planning in order to operationalize IRS with the existent budget in the actual context of budget restrictions. Methods Cost information was collected retrospectively from the provider perspective, and both economic and financial costs were calculated. A “one-way” deterministic sensitivity analysis was performed. Results The average economic costs totaled US$117,351.34, with an average economic cost per household sprayed of US$16.35, and an average economic cost per person protected of US$4.09. The average financial cost totaled US$69,174.83, with an average financial cost per household sprayed and per person protected of US$9.84 and US$2.46, respectively. Vehicle, salary, and insecticide costs were the greatest contributors to overall cost in the economic and financial analysis, corresponding to 52%, 17%, and 13% in the economic analysis and 21%, 27%, and 22% in the financial analysis, respectively. The sensitivity analysis was adapted to a range of ± (above and under) 25% change. There was an approximate change of 14% in the average economic cost when vehicle costs were decreased by 25%. In the financial analysis, the average financial cost was lowered by 7% when salary costs were decreased by 25%. Conclusions Altogether, the current cost analysis provides an impetus for the consideration of targeted IRS operationalization within the available governmental budget, by using locally-available human resources as spray operators to decrease costs and having IRS rounds be correctly timed to coincide with the build-up of vector populations.

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