EPA New Antidegradation Rule Amendments: The “End Is Near” For Science-based Decision-making and Cost Effective Expenditures

2016 ◽  
Vol 2016 (10) ◽  
pp. 2216-2223
Author(s):  
J. C Hall ◽  
A. S Carlesco
Keyword(s):  
Decision Making ◽  
Cost Effective

scholarly journals Bayesian maintenance decision optimisation based on computing the information value from condition inspections

2021 ◽  
pp. 1748006X2097812
Author(s):  
Guang Zou ◽  
Kian Banisoleiman ◽  
Arturo González
Keyword(s):  
Decision Making ◽  
Structural Integrity ◽  
Fatigue Cracking ◽  
Cost Effective ◽  
Offshore Structures ◽  
Information Value ◽  
Bayesian Decision ◽  
Maintenance Strategies ◽  
Optimal Maintenance ◽  
Maintenance Decision

A challenge in marine and offshore engineering is structural integrity management (SIM) of assets such as ships, offshore structures, mooring systems, etc. Due to harsh marine environments, fatigue cracking and corrosion present persistent threats to structural integrity. SIM for such assets is complicated because of a very large number of rewelded plates and joints, for which condition inspections and maintenance are difficult and expensive tasks. Marine SIM needs to take into account uncertainty in material properties, loading characteristics, fatigue models, detection capacities of inspection methods, etc. Optimising inspection and maintenance strategies under uncertainty is therefore vital for effective SIM and cost reductions. This paper proposes a value of information (VoI) computation and Bayesian decision optimisation (BDO) approach to optimal maintenance planning of typical fatigue-prone structural systems under uncertainty. It is shown that the approach can yield optimal maintenance strategies reliably in various maintenance decision making problems or contexts, which are characterized by different cost ratios. It is also shown that there are decision making contexts where inspection information doesn’t add value, and condition based maintenance (CBM) is not cost-effective. The CBM strategy is optimal only in the decision making contexts where VoI > 0. The proposed approach overcomes the limitation of CBM strategy and highlights the importance of VoI computation (to confirm VoI > 0) before adopting inspections and CBM.

scholarly journals Public Officials’ Knowledge of Advances and Gaps for Implementing the Ecosystem Approach to Fisheries in Chile

2021 ◽  
Vol 13 (5) ◽  
pp. 2703
Author(s):  
Rodrigo A. Estévez ◽  
Stefan Gelcich
Keyword(s):  
Decision Making ◽  
Fisheries Management ◽  
Cost Effective ◽  
Ecosystem Approach ◽  
Social Dimensions ◽  
Public Officials ◽  
Government Officials ◽  
Effective Implementation ◽  
Mandatory Requirement ◽  
Support Decision Making

The United Nations calls on the international community to implement an ecosystem approach to fisheries (EAF) that considers the complex interrelationships between fisheries and marine and coastal ecosystems, including social and economic dimensions. However, countries experience significant national challenges for the application of the EAF. In this article, we used public officials’ knowledge to understand advances, gaps, and priorities for the implementation of the EAF in Chile. For this, we relied on the valuable information held by fisheries managers and government officials to support decision-making. In Chile, the EAF was established as a mandatory requirement for fisheries management in 2013. Key positive aspects include the promotion of fishers’ participation in inter-sectorial Management Committees to administrate fisheries and the regulation of bycatch and trawling on seamounts. Likewise, Scientific Committees formal roles in management allow the participation of scientists by setting catch limits for each fishery. However, important gaps were also identified. Officials highlighted serious difficulties to integrate social dimensions in fisheries management, and low effective coordination among the institutions to implement the EAF. We concluded that establishing clear protocols to systematize and generate formal instances to build upon government officials’ knowledge seems a clear and cost effective way to advance in the effective implementation of the EAF.

scholarly journals Economic Development Based on a Mathematical Model: An Optimal Solution Method for the Fuel Supply of International Road Transport Activity

Energies ◽  
2021 ◽  
Vol 14 (10) ◽  
pp. 2963
Author(s):  
Melinda Timea Fülöp ◽  
Miklós Gubán ◽  
György Kovács ◽  
Mihály Avornicului
Keyword(s):  
Decision Making ◽  
Ad Hoc ◽  
Market Competition ◽  
Optimal Solution ◽  
Cost Savings ◽  
Cost Effective ◽  
Optimization Method ◽  
Optimal Decision ◽  
Environmental Damage ◽  
Fuel Cost

Due to globalization and increased market competition, forwarding companies must focus on the optimization of their international transport activities and on cost reduction. The minimization of the amount and cost of fuel results in increased competition and profitability of the companies as well as the reduction of environmental damage. Nowadays, these aspects are particularly important. This research aims to develop a new optimization method for road freight transport costs in order to reduce the fuel costs and determine optimal fueling stations and to calculate the optimal quantity of fuel to refill. The mathematical method developed in this research has two phases. In the first phase the optimal, most cost-effective fuel station is determined based on the potential fuel stations. The specific fuel prices differ per fuel station, and the stations are located at different distances from the main transport way. The method developed in this study supports drivers’ decision-making regarding whether to refuel at a farther but cheaper fuel station or at a nearer but more expensive fuel station based on the more economical choice. Thereafter, it is necessary to determine the optimal fuel volume, i.e., the exact volume required including a safe amount to cover stochastic incidents (e.g., road closures). This aspect of the optimization method supports drivers’ optimal decision-making regarding optimal fuel stations and how much fuel to obtain in order to reduce the fuel cost. Therefore, the application of this new method instead of the recently applied ad-hoc individual decision-making of the drivers results in significant fuel cost savings. A case study confirmed the efficiency of the proposed method.

scholarly journals ANN-Based Decision Making in Station Keeping for Geotechnical Drilling Vessel

2021 ◽  
Vol 9 (6) ◽  
pp. 596
Author(s):  
Murugan Ramasamy ◽  
Mohammed Abdul Hannan ◽  
Yaseen Adnan Ahmed ◽  
Arun Kr Dev
Keyword(s):  
Decision Making ◽  
Water Depth ◽  
Business Models ◽  
Cost Benefit ◽  
Cost Effective ◽  
Station Keeping ◽  
Operational Information ◽  
Effective Option ◽  
The Cost ◽  
Cost Factors

Offshore vessels (OVs) often require precise station-keeping and some vessels, for example, vessels involved in geotechnical drilling, generally use Spread Mooring (SM) or Dynamic Positioning (DP) systems. Most of these vessels are equipped with both systems to cover all ranges of water depths. However, determining which system to use for a particular operational scenario depends on many factors and requires significant balancing in terms of cost-benefit. Therefore, this research aims to develop a platform that will determine the cost factors for both the SM and DP station-keeping systems. Operational information and cost data are collected for several field operations, and Artificial Neural Networks (ANN) are trained using those data samples. After that, the trained ANN is used to predict the components of cost for any given environmental situation, fieldwork duration and water depth. Later, the total cost is investigated against water depth for both DP and SM systems to determine the most cost-effective option. The results are validated using two operational scenarios for a specific geotechnical vessel. This decision-making algorithm can be further developed by adding up more operational data for various vessels and can be applied in the development of sustainable decision-making business models for OVs operators.

Principles of Cost-Effective Resource Allocation in Health Care organizations

1990 ◽  
Vol 6 (1) ◽  
pp. 93-103 ◽  
Author(s):  
Milton C. Weinstein
Keyword(s):  
Health Care ◽  
Decision Making ◽  
Cost Effectiveness ◽  
Health Care Organizations ◽  
Cost Effective ◽  
Limited Resources ◽  
Effectiveness Analysis ◽  
The Cost ◽  
Common Understanding ◽  
Analytical Errors

Cost-effectiveness analysis (CEA) is a method of economic evaluation that can be used to assess the efficiency with which health care technologies use limited resources to produce health outputs. However, inconsistencies in the way that such ratios are constructed often lead to misleading conclusions when CEAs are compared. Some of these inconsistencies, such as failure to discount or to calculate incremental ratios correctly, reflect analytical errors that, if corrected, would resolve the inconsistencies. Others reflect fundamental differences in the viewpoint of the analysis. The perspectives of different decision-making entities can properly lead to different items in the numerator and denominator of the cost-effectiveness (C/E) ratio. Producers and consumers of CEA need to be more conscious of the perspectives of analysis, so that C/E comparisons from a given perspective are based upon a common understanding of the elements that are properly included.

Using digital data collection tools to improve overall cost-efficiency and provide timely analysis for decision making during invasive species eradication campaigns

2014 ◽  
Vol 41 (6) ◽  
pp. 499 ◽  
Author(s):  
David J. Will ◽  
Karl J. Campbell ◽  
Nick D. Holmes
Keyword(s):  
Decision Making ◽  
Data Collection ◽  
Cost Efficiency ◽  
Relational Databases ◽  
Cost Effective ◽  
Digital Data ◽  
Capital Costs ◽  
Project Costs ◽  
Time Required ◽  
Data Collection Effort

Context Worldwide, invasive vertebrate eradication campaigns are increasing in scale and complexity, requiring improved decision making tools to achieve and validate success. For managers of these campaigns, gaining access to timely summaries of field data can increase cost-efficiency and the likelihood of success, particularly for successive control-event style eradications. Conventional data collection techniques can be time intensive and burdensome to process. Recent advances in digital tools can reduce the time required to collect and process field information. Through timely analysis, efficiently collected data can inform decision making for managers both tactically, such as where to prioritise search effort, and strategically, such as when to transition from the eradication phase to confirmation monitoring. Aims We highlighted the advantages of using digital data collection tools, particularly the potential for reduced project costs through a decrease in effort and the ability to increase eradication efficiency by enabling explicit data-informed decision making. Methods We designed and utilised digital data collection tools, relational databases and a suite of analyses during two different eradication campaigns to inform management decisions: a feral cat eradication utilising trapping, and a rodent eradication using bait stations. Key results By using digital data collection during a 2-year long cat eradication, we experienced an 89% reduction in data collection effort and an estimated USD42 845 reduction in total costs compared with conventional paper methods. During a 2-month rodent bait station eradication, we experienced an 84% reduction in data collection effort and an estimated USD4525 increase in total costs. Conclusions Despite high initial capital costs, digital data collection systems provide increasing economics as the duration and scale of the campaign increases. Initial investments can be recouped by reusing equipment and software on subsequent projects, making digital data collection more cost-effective for programs contemplating multiple eradications. Implications With proper pre-planning, digital data collection systems can be integrated with quantitative models that generate timely forecasts of the effort required to remove all target animals and estimate the probability that eradication has been achieved to a desired level of confidence, thus improving decision making power and further reducing total project costs.

Cost Effectiveness of Molecular Profiling for Adjuvant Decision Making in Patients With Node-Negative Breast Cancer

2014 ◽  
Vol 32 (31) ◽  
pp. 3513-3519 ◽  
Author(s):  
Julia Bonastre ◽  
Sophie Marguet ◽  
Beranger Lueza ◽  
Stefan Michiels ◽  
Suzette Delaloge ◽  
...  
Keyword(s):  
Breast Cancer ◽  
Decision Making ◽  
Cost Effectiveness ◽  
Adjuvant Chemotherapy ◽  
Cost Effective ◽  
Gene Signature ◽  
Node Negative ◽  
Node Negative Breast Cancer ◽  
Life Years ◽  
Er Positive

Purpose To conduct an economic evaluation of the 70-gene signature used to guide adjuvant chemotherapy decision making both in patients with node-negative breast cancer (NNBC) and in the subgroup of estrogen receptor (ER) –positive patients. Patients and Methods We used a mixed approach combining patient-level data from a multicenter validation study of the 70-gene signature (untreated patients) and secondary sources for chemotherapy efficacy, unit costs, and utility values. Three strategies on which to base the decision to administer adjuvant chemotherapy were compared: the 70-gene signature, Adjuvant! Online, and chemotherapy in all patients. In the base-case analysis, costs from the French National Insurance Scheme, life-years (LYs), and quality-adjusted life-years (QALYs) were computed for the three strategies over a 10-year period. Cost-effectiveness acceptability curves using the net monetary benefit were computed, combining bootstrap and probabilistic sensitivity analyses. Results The mean differences in LYs and QALYs were similar between the three strategies. The 70-gene signature strategy was associated with a higher cost, with a mean difference of €2,037 (range, €1,472 to €2,515) compared with Adjuvant! Online and of €657 (95% CI, −€642 to €3,130) compared with systematic chemotherapy. For a €50,000 per QALY willingness-to-pay threshold, the probability of being the most cost-effective strategy was 92% (76% in ER-positive patients) for the Adjuvant! Online strategy, 6% (4% in ER-positive patients) for the systematic chemotherapy strategy, and 2% (20% in ER-positive patients) for the 70-gene strategy. Conclusion Optimizing adjuvant chemotherapy decision making based on the 70-gene signature is unlikely to be cost effective in patients with NNBC.

Internal review systems and administrative justice

2021 ◽  
Author(s):  
Tom Mullen
Keyword(s):  
Decision Making ◽  
Public Administration ◽  
Judicial Review ◽  
Cost Effective ◽  
Administrative Organization ◽  
Initial Decision ◽  
Internal Review ◽  
Administrative Justice

Internal review is a process whereby an administrative organization reconsiders its own decisions. The rationales typically offered for internal review are that it provides a means of challenging administrative decisions which is more accessible, quicker, and more cost-effective than external remedies such as appeals to tribunal and judicial review, and encourages improvement in the quality of initial decision-making in public administration. This chapter reviews the use made of internal review and evaluates the performance of several existing systems of internal review, concluding that they have failed to deliver the benefits claimed for them. Possible reasons for this failure are discussed and suggestions made as to what is required for internal review systems to achieve the aims to providing effective remedies for bad decisions and to contributing to improving initial decision-making.

A Digital Twin for Decision Making on Livestock Feeding

2021 ◽  
Author(s):  
David Raba ◽  
Rafael D. Tordecilla ◽  
Pedro Copado ◽  
Angel A. Juan ◽  
Daniel Mount
Keyword(s):  
Decision Making ◽  
Cost Effective ◽  
Effective Solution ◽  
Digital Twin ◽  
Delivery Routes ◽  
Livestock Feeding

Looking for an accurate and cost-effective solution to measure feed inventories, forecast the feed demand and allow feed suppliers to optimize inventories, production batches, and delivery routes.

Digitalization of Decommissioning Cost Estimation Process for Upstream Assets

2021 ◽  
Author(s):  
M. B. C. Lah
Keyword(s):  
Decision Making ◽  
Cost Estimation ◽  
Cost Effective ◽  
Lessons Learned ◽  
Process Efficiency ◽  
Cost Estimating ◽  
Work Processes ◽  
Floating Structure ◽  
Cost Estimates ◽  
Estimation Process

The paper provides an insight on how has addressed PETRONAS has addressed its pain points on limited resources, simplified work processes with reliable auditable tool for decision making through digitalization. PETRONAS is currently performing its annual budgetary assessment for all Malaysia assets which consist of more than 300 platforms with close to 600 pipelines and other assets eg. terminals, subsea systems & floating structure. With limited timeline and resources to establish decommissioning cost, the consistency and quality is vital for estimating work to improvise process efficiency and cost effective via digitalization. The process improvement requirements are pooled and possible digitalization takeovers are studied in detail via stakeholder engagements, technical workshops and lessons learned analysis. The method is solely based on digitalization of bottoms-up cost estimation process which has been embedded in a single tool to fix and standardize all technical and commercial basis. The tool has been developed with taking into all technical and commercial aspects in decommissioning offshore assets. Twelve base options which include reefing options, cutting methodologies, cost sharing execution strategies have been embedded in the tool. Based on the digital approach, it has been proven that cost estimation process duration has been optimized up to 60% for all Class V- and Class IV decommissioning cost estimates which is equivalent to 3,600 manhours for 1000 facilities. Furthermore, consistency in cost estimation approach and robustness in developing cost estimates for multiple options for decision making has been guaranteed with the centralization cost estimating approach via digital platform. Centralized digital depository of the technical inputs, basis and assumptions are also crucial to ensure this essential data could be retrieved in the future as most decommissioning projects would only be executed during the tail end of a facility’s production life.

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