Costing Systems for Decision Making under Uncertainty Using Probabilistic Models

2016 ◽  
pp. 221-245
Author(s):  
Paulo Afonso ◽  
Victor J. Jiménez
Keyword(s):  
Business Strategy ◽  
Probabilistic Models ◽  
Cost Management ◽  
Point Of View ◽  
Decision Making Under Uncertainty ◽  
Deterministic Models ◽  
Changing Environment ◽  
Proposed Model ◽  
The Cost ◽  
Over Time

One measure of organizations' performance is the cost of products, as this may indicate the level of efficiency and contribute to define the business strategy of the firm. Nevertheless, companies face an increasingly fast-changing environment where the variability in processes, products, technology, prices, among other variables affect the performance of the organization. Particularly, given such changing environment, product and service costs may be changing over time. In this context, deterministic models for costing systems might be inappropriate. Thus, this chapter proposes a model for calculating costs which considers the variability of endogenous and exogenous cost variables. It uses the logic of a Two-Stage costing model and Monte Carlo Simulation. The proposed model may allow to some extent to predict the risk associated with the variability in costs and support the necessary steps which should be taken to better manage such risk, whether from the point of view of processes rationalization and of cost management.

Policy (Mis) Representation and the Cost of Ruling: U.S. Presidential Elections in Comparative Perspective

2016 ◽  
Vol 50 (6) ◽  
pp. 711-738 ◽  
Author(s):  
Christopher Wlezien
Keyword(s):  
Political Institutions ◽  
Presidential Elections ◽  
Point Of View ◽  
Good News ◽  
Substantive Representation ◽  
Electoral Accountability ◽  
White House ◽  
Electoral Support ◽  
The Cost ◽  
Over Time

The cost of ruling effect on electoral support is well established. That is, governing parties tend to lose vote share the longer they are in power. Although we know this to be true, we do not know why it happens. This research examines whether the cost of ruling results at least in part from the tendency for governing parties to shift policy further away from the average voter. It first considers differences in political institutions and how they might influence cost of ruling owing to policy drift, and then tests the hypothesis focusing on U.S. presidential elections, which is an unfavorable case to find such an effect. Results confirm a clear cost of ruling effect in these elections and demonstrate that policy misrepresentation is an important mechanism. That is, the policy liberalism of presidents from different parties diverges over time as their tenure in the White House increases, and the degree to which it does matters for the presidential vote. Policy is not the only thing that matters, and other factors, in particular the economy, are more powerful. From the point of view of electoral accountability, however, the results do provide good news, as they indicate that substantive representation is important to voters. Elections are not simply games of musical chairs.

scholarly journals Calculation of Dynamic Viscosity in Concentrated Cementitious Suspensions: Probabilistic Approximation and Bayesian Analysis

Materials ◽  
2021 ◽  
Vol 14 (8) ◽  
pp. 1971
Author(s):  
Ángel De La Rosa ◽  
Gonzalo Ruiz ◽  
Enrique Castillo ◽  
Rodrigo Moreno
Keyword(s):  
Bayesian Analysis ◽  
Dynamic Viscosity ◽  
Probabilistic Models ◽  
Packing Fraction ◽  
Point Of View ◽  
Deterministic Models ◽  
Cement Pastes ◽  
Random Nature ◽  
Probabilistic Point ◽  
Maximum Packing Fraction

We present a new focus for the Krieger–Dougherty equation from a probabilistic point of view. This equation allows the calculation of dynamic viscosity in suspensions of various types, like cement paste and self-compacting mortar/concrete. The physical meaning of the parameters that intervene in the equation (maximum packing fraction of particles and intrinsic viscosity), together with the random nature associated with these systems, make the application of the Bayesian analysis desirable. This analysis permits the transformation of parametric-deterministic models into parametric-probabilistic models, which improves and enriches their results. The initial limitations of the Bayesian methods, due to their complexity, have been overcome by numerical methods (Markov Chain Monte Carlo and Gibbs Sampling) and the development of specific software (OpenBUGS). Here we use it to compute the probability density functions that intervene in the Krieger–Dougherty equation applied to the calculation of viscosity in several cement pastes, self-compacting mortars, and self-compacting concretes. The dynamic viscosity calculations made with the Bayesian distributions are significantly better than those made with the theoretical values.

scholarly journals Cost Management of Mechanical and Electrical Engineering Project Based on Bim Technology

2018 ◽  
Vol 2 (3) ◽  
Author(s):  
Lifa Zhang ◽  
Zhibo Dong ◽  
Lizhuang Zhang ◽  
Aiping Zu ◽  
Liang Yang
Keyword(s):  
Cost Management ◽  
Electrical Engineering ◽  
Social Economy ◽  
Point Of View ◽  
Construction Time ◽  
Engineering Project ◽  
Actual Application ◽  
Project Construction ◽  
The Cost ◽  
Engineering Projects

With the further development of social economy and science and technology, society has brought new impetus and new challenges for the development of mechanical and electrical engineering. In order to safeguard the sound operation of mechanical and electrical engineering, we must take into account the management effect of project costs while strictly controlling the construction quality of electromechanical engineering projects. There have been some attempts to apply BIM technology to the cost management of electromechanical engineering projects. In this environment, this paper takes the cost management of mechanical and electrical engineering projects of BIM technology as the research object. First, it briefly introduces the theory and characteristics of BIM technology. On the basis of this, it points out the advantages of cost management in combination of electromechanical engineering and BIM technology. Finally, the actual application of this technology in the cost control of electromechanical engineering projects is the final point of view, in order to provide a reference for the project construction time, energy saving, project quality assurance and so on.

scholarly journals OPTIMIZATION MODEL FOR SCHOOL TRANSPORTATION DESIGN BASED ON ECONOMIC AND SOCIAL EFFICIENCY.

2016 ◽  
Author(s):  
Sara Ezquerro Eguizábal ◽  
José Luis Moura Berodia ◽  
Ángel Ibeas Portilla ◽  
Juan Benavente Ponce
Keyword(s):  
Travel Time ◽  
Time Window ◽  
Point Of View ◽  
Social Efficiency ◽  
School Transportation ◽  
Start Time ◽  
Economic Point ◽  
Multi Objective ◽  
Proposed Model ◽  
The Cost

The purpose of this paper is to design a model that allows to suggest new planning proposals on school transport, so that greater efficiency operational will be achieved.  It is a multi-objective optimization problem including the minimization of the cost of busing and minimizes the total travel time of all students. The foundation of the model is the planning routes made by bus due to changes in the starting time in schools, so the buses are able to perform more than one route. The methodology is based on the School Bus Routing Problem, so that routes from different schools within a given time window are connected, and within the restrictions of the problem, the system costs are minimized. The proposed model is programmed to be applied in any generic case. This is a multi-objective problem, in which there will be several possible solutions, depending on the weight to be assigned to each of the variables involved, economic point of view versus social point of view. Therefore, the proposed model is helpful for policy planning school transportation, supporting the decision making under conditions of economic and social efficiency. The model has been applied in some schools located in an area of Cantabria (Spain), resulting in 71 possible optimal options that minimize the cost of school transport between 2,7% and 35,1% regarding to the current routes of school transport, with different school start time and minimum travel time for students.DOI: http://dx.doi.org/10.4995/CIT2016.2016.4074

scholarly journals Cost Management of Mechanical and Electrical Engineering Project Based on Bim Technology

2018 ◽  
Author(s):  
Lifa Zhang ◽  
Zhibo Dong ◽  
Lizhuang Zhang ◽  
Aiping Zu ◽  
Liang Yang
Keyword(s):  
Cost Management ◽  
Electrical Engineering ◽  
Social Economy ◽  
Point Of View ◽  
Construction Time ◽  
Engineering Project ◽  
Actual Application ◽  
Project Construction ◽  
The Cost ◽  
Engineering Projects

With the further development of social economy and science and technology, society has brought new impetus and new challenges for the development of mechanical and electrical engineering. In order to safeguard the sound operation of mechanical and electrical engineering, we must take into account the management effect of project costs while strictly controlling the construction quality of electromechanical engineering projects. There have been some attempts to apply BIM technology to the cost management of electromechanical engineering projects. In this environment, this paper takes the cost management of mechanical and electrical engineering projects of BIM technology as the research object. First, it briefly introduces the theory and characteristics of BIM technology. On the basis of this, it points out the advantages of cost management in combination of electromechanical engineering and BIM technology. Finally, the actual application of this technology in the cost control of electromechanical engineering projects is the final point of view, in order to provide a reference for the project construction time, energy saving, project quality assurance and so on.

scholarly journals VALUE MANAGEMENT OF CONSTRUCTION PRODUCTS

2020 ◽  
pp. 18-23
Author(s):  
A. V. Kozlovsky ◽  
O. E. Astafieva ◽  
N. A. Moiseenko
Keyword(s):  
Cost Management ◽  
Point Of View ◽  
Value Management ◽  
Construction Sector ◽  
Management Mechanism ◽  
Main Emphasis ◽  
Construction Products ◽  
Management Functions ◽  
The Cost

The issues of cost management from the point of view of substantiating the reduction in the cost of investment products in order to create reasoned conditions for the interest of investors in long-term investments have been considered. The main emphasis on the real economic sector has been made, since it is in this sector that budget revenues at all levels are generated and overall economic growth is ensured. The existing mechanism of cost management in the implementation of investment programs has been assessed. Attention to the main elements of the cost management mechanism in the investment and construction sector of the economy has been paid. Factors that determine the level of production expenses taking into account the specifics of construction products have been analysed. An attempt to justify multi-factor cost management has been made. Management functions by performers have been differentiated.

The cost of homelessness: Assessing change over time

2003 ◽  
Author(s):  
M. Spano ◽  
P. Toro ◽  
M. Goldstein
Keyword(s):  
Change Over Time ◽  
The Cost ◽  
Over Time

ANALISA PERBANDINGAN DALAM RANGKA PEMILIHAN BEBERAPA IP UPSTREAM PROVIDER DI PT. INDOSAT

2018 ◽  
Vol 4 (1) ◽  
pp. 57
Author(s):  
Yuli Anwar ◽  
Dahlar .
Keyword(s):  
Business Strategy ◽  
High Speed ◽  
Human Life ◽  
Sustainable Growth ◽  
The Internet ◽  
Network Service Provider ◽  
High Speed Data ◽  
Telecommunications Services ◽  
The Cost ◽  
Internet Network

Abstract. One of the advances in information technology that now has changed the outlook and human life, business process and business strategy of an institution is the internet. The internet is a very large networks that connected to computers and serves throughout the world in one centralized network. With the internet we can access data and information anytime and anywhere.    As one provider of high-speed data communications services and the pioneer of the internet network service provider in Indonesia that provides integrated services, as well as one of the pioneer development of internet services that provide extensive services in the building and apply it throughout Indonesia. Indosat ready to seize opportunities for sustainable growth of business spectrum are still sprawling Indonesia.    Therefore, Indosat continues to focus on the development of increased efforts to provide the best service for customers of Indosat. Indosat will continue to develop and expand network coverage and a larger investment that the company will achieve excellence in the field of integrated telecommunications services.    Ranking by region of the IP Providers can be seen by grouping IP Providers, and management over IP Providers prefer to choose providers based on where it orginates as an example for the region of the U.S if it will be preferred providers that come from U.S. providers.With the commencement of the internet network optimization start early in 2008 with the selection of the appropriate IP Upstream Provider criteria, it is up to date according to data obtained from Indosat, seen any significant changes to the cost of purchasing capacity of the IP Upstream.    Based on the data obtained that until Q3 or September 2008, the number of IP Upstream Providers that previously there were 20 to 10 IP Upstream Provider, IP Transit Price total decrease of 11% to the price of IP Transit Price / Mbps there is a decrease of 78%, while from the capacity bandwith an increase of 301% capacity from 2008.

Evaluation Of The Functional Of Space-Planning Arrangement Of A Building

2019 ◽  
pp. 4-9
Keyword(s):  
Numerical Simulation ◽  
Life Cycle ◽  
Initial Data ◽  
Objective Assessment ◽  
Objective Evaluation ◽  
Point Of View ◽  
Shopping Centers ◽  
Space Planning ◽  
Planning Decisions ◽  
The Cost

The article focuses on the problem of the lack of objective evaluation of space-planning arrangement of buildings as a creative approach of the architect to the performing of functional tasks by the object. It is proposed to create a methodology for assessing the functional of space-planning solutions of buildings on the basis of numerical simulation of functional processes using the theory of human flows. There is a description of the prospects of using this method, which makes it possible to increase the coefficient of compactness, materials and works saving, more efficient use of space, reduce the cost of the life cycle of the building, save human forces and time to implement the functional of the building. The necessary initial data for modeling on the example of shopping and shopping-entertainment centers are considered. There are three main tasks for algorithmization of the functional of shopping centers. The conclusion is made about necessity of development of a method for objective assessment of buildings from the point of view of ergonomics of space-planning decisions based on the study of human behavior in buildings of different purposes.

The Internet Trap

2018 ◽  
Author(s):  
Matthew Hindman
Keyword(s):  
The Internet ◽  
Net Neutrality ◽  
The Public ◽  
Attention Economy ◽  
Digital News ◽  
The Cost ◽  
Over Time

The Internet was supposed to fragment audiences and make media monopolies impossible. Instead, behemoths like Google and Facebook now dominate the time we spend online—and grab all the profits from the attention economy. This book explains how this happened. It sheds light on the stunning rise of the digital giants and the online struggles of nearly everyone else—and reveals what small players can do to survive in a game that is rigged against them. The book shows how seemingly tiny advantages in attracting users can snowball over time. The Internet has not reduced the cost of reaching audiences—it has merely shifted who pays and how. Challenging some of the most enduring myths of digital life, the book explains why the Internet is not the postindustrial technology that has been sold to the public, how it has become mathematically impossible for grad students in a garage to beat Google, and why net neutrality alone is no guarantee of an open Internet. It also explains why the challenges for local digital news outlets and other small players are worse than they appear and demonstrates what it really takes to grow a digital audience and stay alive in today's online economy. The book shows why, even on the Internet, there is still no such thing as a free audience.

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