scholarly journals Evaluation of Unit Rates Bids of Common Building Items

2021 ◽  
Vol 11 (2) ◽  
pp. 145-157
Author(s):  
Olubimbola Oladimeji
Keyword(s):  
Financial Performance ◽  
Consumer Price Index ◽  
Teaching Hospitals ◽  
Building Projects ◽  
Construction Firms ◽  
Goods And Services ◽  
Construction Market ◽  
Southwest Nigeria ◽  
Pricing Pattern ◽  
Common Items

AbstractIt is important to assess firms’ financial health in the harsh construction market of developing countries. This study seeks to achieve this by assessing locally owned construction firms’ (LOCOFs) financial performance through evaluating firms’ bill of quantities (BOQ) contract sums and bid unit rates of common building items. Accessible 60 BOQ of the 79 BOQ of building projects awarded to various LOCOFs from 2007 to 2015 by federal universities and federal universities teaching hospitals in Southwest Nigeria were obtained from the institutional archives. Regression analysis of the contract sums and bid unit rates of common building construction items of works such as concrete, sandcrete block, iron, mortar and floor tiles were carried out. LOCOFs’ bid unit rates were compared with published unit rates and Nigeria consumer price index (CPI) within the study period and inferences bothering on firms’ pricing pattern and financial viability of firms based on items of work unit rates were highlighted and discussed. The results showed that 119 out of a total 461 unit rates values representing 25.81% of the LOCOFs bided unit rates were higher than the published unit rates. LOCOFs unit rates trend decreased within 3 to 4 consecutive years while the Nigeria CPI trend increased all through the years considered in the study. This implies that LOCOFs common items of work bids unit rates were not always influenced by the prevailing prices of goods and services in Nigeria. A possible reason for this is the lowest tender selection criteria which influences LOCOFs’ bided unit rates thereby leading to the acclaimed compromise in the quality of construction output and stunted financial performance.

scholarly journals Sistem Pemasaran Jasa Freelancer IT (Studi Kasus : AMIK Indonesia)

2019 ◽  
Vol 3 (1) ◽  
pp. 1
Author(s):  
Jhony Syafwandhinata ◽  
Lukman Ahmad
Keyword(s):  
Data Collection ◽  
Student Services ◽  
It Services ◽  
Building Projects ◽  
Goods And Services ◽  
Digital Product ◽  
The World ◽  
Development Data ◽  
Innovation Model ◽  
Project Model

In line with the development of e-marketing, a new system emerged in the world of marketing and internet-based business called crowdsourcing. The workings of crowdsourcing sites are almost the same as sales terms where this site allows anyone and from anywhere to offer services and promote services on this site, where each member (member) of these sites is an online freelancer. At present, many promotional sites for freelancers have been provided by several communities and individuals who aim to offer goods and services for freelancers online and each service used is charged by freelancers when work is taken on the site. Based on the observations and experience of the author that many are building projects and digital product marketplaces in Indonesia and the World such as; Projects.co.id, Freelancer.com, Upwork, Guru, Elance, Sribulancer, Sribu. However, members who get services from these sites will be charged by the site owner for their services. This study tries to build a project model and digital product marketplace for students that can be used as a form of marketing student services for service enthusiasts. This model will later build an application that enables the marketing of student services to be complex and foster a spirit of entrepreneurship for students who are creative and innovative. The purpose of this study is to analyze the innovation model of the marketing system for freelancers' services and to build a project and digital product marketplace container as a media for promoting IT services for AMIK Indonesia students. Broadly speaking this research is divided into three stages, namely pre-development data collection, development and implementation, and post-development data collection.

Forecasting and Technical Comparison of Inflation in Turkey With Box-Jenkins (ARIMA) Models and the Artificial Neural Network

2022 ◽  
pp. 1194-1216
Author(s):  
Erkan Işığıçok ◽  
Ramazan Öz ◽  
Savaş Tarkun
Keyword(s):  
Consumer Price Index ◽  
Predictive Performance ◽  
Central Banks ◽  
Decision Makers ◽  
Inflation Expectations ◽  
Arima Models ◽  
Goods And Services ◽  
The Future ◽  
Alternative Techniques ◽  
Artificial Neural

Inflation refers to an ongoing and overall comprehensive increase in the overall level of goods and services price in the economy. Today, inflation, which is attempted to be kept under control by central banks or, in the same way, whose price stability is attempted, consists of continuous price changes that occur in all the goods and services used by the consumers. Undoubtedly, in terms of economy, in addition to the realized inflation, inflation expectations are also gaining importance. This situation requires forecasting the future rates of inflation. Therefore, reliable forecasting of the future rates of inflation in a country will determine the policies to be applied by the decision-makers in the economy. The aim of this study is to predict inflation in the next period based on the consumer price index (CPI) data with two alternative techniques and to examine the predictive performance of these two techniques comparatively. Thus, the first of the two main objectives of the study are to forecast the future rates of inflation with two alternative techniques, while the second is to compare the two techniques with respect to statistical and econometric criteria and determine which technique performs better in comparison. In this context, the 9-month inflation in April-December 2019 was forecast by Box-Jenkins (ARIMA) models and Artificial Neural Networks (ANN), using the CPI data which consist of 207 data from January 2002 to March 2019 and the predictive performance of both techniques was examined comparatively. It was observed that the results obtained from both techniques were close to each other.

scholarly journals Financial Performance Assessment of Construction Firms by Means of RAM-Based Composite Indicators

Mathematics ◽  
2020 ◽  
Vol 8 (8) ◽  
pp. 1347
Author(s):  
Ioannis E. Tsolas
Keyword(s):  
Data Envelopment Analysis ◽  
Financial Performance ◽  
Composite Indicators ◽  
Upper Class ◽  
Practical Implementation ◽  
Data Envelopment ◽  
Tobit Regression ◽  
Construction Firms ◽  
Relational Analysis ◽  
Grey Relational

This paper aims to provide a novel construct that is based on data envelopment analysis (DEA) range adjusted measure (RAM) of efficiency and demonstrate its practical implementation by evaluating the financial performance of a sample of three upper-class contracting license (Classes 5–7) Greek construction firms. In a two-step framework, firm efficiency (i.e., composite indicators (CIs)) is produced firstly by means of RAM using single financial ratios, which are selected by grey relational analysis (GRA), and then Tobit regression is employed to model the CIs. In light of the results, only 4% of the sampled firms are efficient, and the firm ranking is consistent with the ranking of Grey Relational Grande (GRG) values produced by GRA. Moreover, the firms with a contracting license of the highest level (Class 7) appear not to be superior in efficiency to their counterparts that belong to Classes 5–6.

scholarly journals Diffusion of Building Information Modeling in Building Projects and Firms in Singapore

2020 ◽  
Vol 12 (18) ◽  
pp. 7762
Author(s):  
Longhui Liao ◽  
Evelyn Ai Lin Teo ◽  
Ruidong Chang ◽  
Xianbo Zhao
Keyword(s):  
Building Information Modeling ◽  
Practical Experience ◽  
Information Modeling ◽  
Project Leadership ◽  
Building Projects ◽  
Construction Firms ◽  
Design Coordination ◽  
Building Information ◽  
Coordination Training ◽  
Survey Interviews

Building information modeling (BIM) implementation has been mandated in building projects in Singapore, but a wider adoption is still desired. This study aims to investigate the factors influencing BIM diffusion and examine how the factors influence firms with different project roles, firm sizes, and BIM implementation experience. The results of a pilot study, a questionnaire survey with 89 professionals, and five post-survey interviews showed that hindrances related to inadequate multi-party collaboration (whether formal or informal), conservative mindset, limited skills, costly infrastructure and training, and multi-discipline model integration were the most influential, whereas drivers associated with project leadership team’s strategic consensus, multi-disciplinary design coordination, training, and government regulations were top-ranked. Subgroup analyses between pairs of firms with different characteristics revealed that while construction firms and less experienced stakeholders tended to underestimate BIM implementation difficulties, small-medium contractors might underestimate relevant benefits. The findings and managerial recommendations help different types of firms prioritize resources to overcome hindrances, seize opportunities (such as gaining a competitive edge from BIM practical experience), and obtain support from workers executing BIM daily. With major stakeholders’ recognition and implementation, BIM can be successfully diffused in building projects and firms. The Singapore government and other countries can refer to this study when further issuing BIM diffusion policies.

scholarly journals THE LONG-RUN RELATIONSHIP BETWEEN HOUSE PRICES AND INFLATION IN SOUTH AFRICA: AN ARDL APPROACH

2013 ◽  
Vol 17 (2) ◽  
pp. 188-198 ◽  
Author(s):  
Roula Inglesi-Lotz ◽  
Rangan Gupta
Keyword(s):  
South Africa ◽  
Price Index ◽  
House Prices ◽  
Housing Prices ◽  
Consumer Price Index ◽  
Data Series ◽  
Middle Segment ◽  
Goods And Services ◽  
Long Run ◽  
Housing Costs

This paper investigates whether house prices provide a suitable hedge against inflation in South Africa by analysing the long-run relationship between house prices and the prices of non-housing goods and services. Quarterly data series are collected for the luxury, large middle-segment, medium middle-segment, small middle-segment and the entire middle segment of house prices, as well as, the consumer price index excluding housing costs for the period 1970:Q1–2011:Q1. Based on autoregressive distributed lag (ARDL) models, the empirical results indicate long-run cointegration between the house prices of all the segments and the consumer price index excluding housing costs. Moreover, the long-run elasticity of house prices with respect to prices of non-housing goods and services, i.e., the Fisher coefficient is greater than one for the luxury segment, virtually equal to one for the small middle-segment, and less than one for the large and medium middle-segments, as well as the affordable segments. More importantly though, the estimated Fisher coefficients are not statistically different from unity – a result consistent with the proposed theoretical framework relating housing prices and consumer prices excluding housing expenditure. In general, we infer that house prices in South Africa provide a stable inflation hedge in the long-run.

Green Construction: Contractor Experiences, Expectations, and Perceptions

2007 ◽  
Vol 2 (3) ◽  
pp. 106-122 ◽  
Author(s):  
Yong Han Ahn ◽  
Annie R Pearce
Keyword(s):  
United States ◽  
Green Building ◽  
The United States ◽  
Eastern United States ◽  
Construction Firms ◽  
Construction Market ◽  
Green Construction ◽  
Construction Contractor ◽  
Construction Knowledge ◽  
New Hires

As the benefits of green building continue to change the Architecture/Engineering/Construction industry and the number of green projects rises in the United States due to market changes, more construction firms are gaining experience with this new way of building and changing their expectations for new hires from degree-granting construction programs. This paper documents a baseline study of contractor experiences, expectations, and perceptions associated with green building conducted in Fall 2006. The study was based on detailed survey results from 87 different companies recruiting from three major university construction programs in the eastern United States (Auburn, Purdue, and Virginia Tech). The survey collected data regarding current experience levels and capabilities of companies with regard to green construction, corporate expectations of new hires in terms of green construction knowledge and skills, and respondent expectations and perceptions about the future of the industry with regard to green projects. The findings of this study support the growing importance of green building as a component of the whole construction market and provide a benchmark against which to measure future changes in the industry over time.

scholarly journals MODELLING AND FORECASTING OF COUNTRY TOURISM DEVELOPMENT IN LITHUANIA

2005 ◽  
Vol 13 (3) ◽  
pp. 116-120 ◽  
Author(s):  
Marija Burinskiene ◽  
Vitalija Rudzkiene
Keyword(s):  
Linear Trend ◽  
Consumer Price Index ◽  
Strong Support ◽  
The European Union ◽  
Forecasting Accuracy ◽  
Goods And Services ◽  
The Government ◽  
Important Branch ◽  
The Eu ◽  
Modelling And Forecasting

Development trends of the European Union society show that tourism has the highest increase rate. Tourism is an important branch of every country's economy, because tourism consumption spreads over a large number of goods and services. In the last years development of country tourism in Lithuania has had a strong support from the government as well as the EU funds. The effect of economic variables on forecasting accuracy of guest numbers in Auk?taitija National Park is examined using ARMA models. The empirical results show that country tourism has a positive linear trend and the consumer price index can be used as an explanatory variable forecasting country guest number.

scholarly journals Analisis Perkembangan Indeks Harga Konsumen di Kota Medan

2020 ◽  
Vol 3 (2) ◽  
pp. 412-418
Author(s):  
Sari Wulandari ◽  
Muhammad Dani Habra
Keyword(s):  
Price Index ◽  
Inflation Rate ◽  
Consumer Price Index ◽  
Commodity Prices ◽  
Household Expenditure ◽  
The Public ◽  
Goods And Services ◽  
City Community ◽  
The Subject ◽  
The City

The Consumer Price Index (CPI) is one of the important economic indicators that can provide information about the development of prices of goods and services (commodities) paid by consumers or the public especially the city community. This study aims to analyze the Development of the Consumer Price Index in Medan City. The benefits of this research are a description of the fluctuations in commodity prices for basic needs of the community at the level of consumers or retail traders. This type of research is descriptive qualitative. The subject in this study is the Central Statistics Agency and the object in this study is the Consumer Price Index through seven groups of household expenditure in 2018-2019. The results showed that the development of price indices in Medan City tends to fluctuate from seven types of household expenditure groups. During the January-December 2019 period the highest inflation of the seven types of expenditure was foodstuffs. Keywords: Consumer Price Index, Inflation Rate

scholarly journals CONSIDERING THE STATE OF THE UKRAINIAN ECONOMY IN THE ENTERPRISES FINANCIAL SUSTAINABILITY MODELING

2020 ◽  
Vol 1 (4) ◽  
pp. 37-47
Author(s):  
Leonid Debunov ◽  
Aleksandr Yakovenko
Keyword(s):  
Financial Management ◽  
Consumer Price Index ◽  
Graphical Analysis ◽  
Economic Environment ◽  
Financial Sustainability ◽  
Financial Indicators ◽  
Crisis Period ◽  
Goods And Services ◽  
Macroeconomic Indicators ◽  
The Difference

Construction of a model for predicting the bankruptcy of the enterprise is an urgent and popular task. Using this model will provide an opportunity to make quick and accurate assessment of financial sustainability, predict possible bankruptcy advance and take the necessary action to avoid it. Obviously, bankruptcy can occur both under the influence of internal factors (in particular, financial management errors) and when the economic environment changes. The inclusion of all possible en-vironmental factors influencing into the model is a difficult task and causes an over-load of such a model with a large number of input signals. A more realistic option is to build a model using internal financial indicators only, but under a relatively con-stant external environment. The subject of the study described in the article is the general homogeneity of the Ukrainian economy over time in the context of the possibility of using companies’ reports for these periods to build a neural network model of financial sustainability of enterprises using only internal financial indicators. To separate stable periods from unstable ones, a review of the dynamics of macroeconomic indicators of Ukraine for the period 2010–2019 is used. Graphical analysis of the dynamics of macroeconomic indicators is used as a methodology. The purpose of this study is to identify periods of Ukraine’s economy, the conditions of which are quite stable to take reports of enterprises of these periods for a dataset formation. The article considers the dynamics of the following indicators of Ukraine’s economy: gross domestic product, hryvnia exchange rate, employment, consumer price index, total net profit (loss) of enterprises by size of enterprises, levels of profitability of operating activities, foreign trade indicators by geographical areas (imports and exports of goods and services) etc. The study pays special attention to the economic crisis of 2014–2015 and to changes in the economic environment, which distinguish the conditions before and after the crisis. The main conclusions of the article are the recognition of the existence of crisis phenomena in the period 2014–2015 and the recognition of the difference between the post-crisis period and the pre-crisis period. In order to build an up-to-date model of financial sustainability, it is recommended to use report data for periods not earlier than 2016.

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