Relative Design Cost Estimation at Design Stage Based on Design Features

2010 ◽  
Vol 26-28 ◽  
pp. 625-636 ◽  
Author(s):  
Xiao Chuan Chen ◽  
Xiao Xia Lai ◽  
John. K. Gershenson
Keyword(s):  
Design Process ◽  
Cost Estimation ◽  
Global Financial Crisis ◽  
Design Stage ◽  
Design Features ◽  
Embodiment Design ◽  
Relative Design ◽  
The Global Financial Crisis ◽  
Design Cost ◽  
Design Factors

With the global financial crisis happened, companies and investors pay more attention to development expense. Development costs mainly include design cost at the design stage. We analyze the design process and extract many design factors in order to estimate design cost at the conceptual and embodiment design stage. A number of process-based design features that impact the design cost are considered. These design factors include: 1) the number of performances and constraints, 2) sub-functions level and relationships, and 3) solutions at the conceptual design stage. At the embodiment of the design stage the design factors include: 1) the number of parts and their relationships, 2) the types of materials, 3) load resources, and 4) the number and types of tolerances. We use relative cost to estimate design cost by comparing the number of design factors among designs. To demonstrate the relative design cost estimation in practice, Kodak single-use cameras are used as example products. Use of these methods proves beneficial in estimate design cost in the design process.

An Innovative Channel Design of the Freezing Chucker

2006 ◽  
Author(s):  
Rong-Yuan Jou
Keyword(s):  
Conceptual Design ◽  
Design Process ◽  
Design Stage ◽  
Plate Surface ◽  
Channel Design ◽  
Typical Structure ◽  
Design Work ◽  
Detailed Design ◽  
Embodiment Design ◽  
Final Design

A freezing chucker is a clamp-less mechanism of fixture for easy broken egg-shell, clay, and other ferrous/nonferrous materials. Typical structure of this mechanism includes a top plate for freezing workpieces, a body with specially designed channels for the coolant flows, and a bottom plate to fasten on the table of other machine. Just by a small amount of liquids on the top surface and by rapidly cool down to 253K, parts can be frozen stationary on the top plate surface and can conduct precision machining on it. There are four steps to design a new freeze chucker by the engineering design process: planning and clarifying the task; conceptual design; embodiment design; detailed design. Some useful tools from the Quality Function Deployment (QFD) technique and the Theory of Inventive Problem Solving (TRIZ) method are used in this design process. Eight concept designs are generated by the conceptual design work and the final design of channel with transverse ribs is selected by decision matrix technique during embodiment design and detailed design stage. This final design is evaluated by numerical modeling of the COMSOL MULTIPHYSICS 3.2 finite-element based package. Performances such as the temperature distribution of top-plate surface temperature and the lowest temperature of a freezing chucker are shown. Numerical results show the success of the innovative channel design by this inventive design process using TRIZ methodology.

A model utilizing the artificial neural network in cost estimation of construction projects in Jordan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dareen Ryied Al-Tawal ◽  
Mazen Arafah ◽  
Ghaleb Jalil Sweis
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
Building Design ◽  
Management Tool ◽  
Design Stage ◽  
Concept Design ◽  
Ann Model ◽  
Content Type ◽  
Artificial Neural ◽  
Design Factors

PurposeCost estimation is one of the most significant steps in construction planning, which must be undertaken in the preliminary stages of any project; it is required for all projects to establish the project's budget. Confidence in these initial estimates is low, primarily due to the limited availability of suitable data, which leads the construction projects to frequently end up over budget. This paper investigated the efficacy of artificial neural networks (ANNs) methodologies in overcoming cost estimation problems in the early phases of the building design process.Design/methodology/approachCost and design data from 104 projects constructed over the past five years in Jordan were used to develop, train and test ANN models. At the detailed design stage, 53 design factors were utilized to develop the first ANN model; then the factors were reduced to 41 and were utilized to develop the second predictive model at the schematic design stage. Finally, 27 design factors available at the concept design stage were utilized for the third ANN model.FindingsThe models achieved average cost estimation accuracy of 98, 98 and 97% in the detailed, schematic and concept design stages, respectively.Research limitations/implicationsThis paper formulated the aims and objectives to be applicable only in Jordan using historical data of building projects.Originality/valueThe ANN approach introduced as a management tool is expected to provide the stakeholders in the engineering business with an indispensable tool for predicting the cost with limited data at the early stages of construction projects.

Data-Driven Design Space Exploration and Exploitation for Design for Additive Manufacturing

2019 ◽  
Vol 141 (10) ◽  
Author(s):  
Yi Xiong ◽  
Pham Luu Trung Duong ◽  
Dong Wang ◽  
Sang-In Park ◽  
Qi Ge ◽  
...  
Keyword(s):  
Additive Manufacturing ◽  
Design Process ◽  
Sampling Method ◽  
Design Space ◽  
Data Driven ◽  
Design Stage ◽  
Design For Additive Manufacturing ◽  
Detailed Design ◽  
Embodiment Design ◽  
Ankle Brace

Recently, design for additive manufacturing has been proposed to maximize product performance through the rational and integrated design of the product, its materials, and their manufacturing processes. Searching design solutions in such a multidimensional design space is a challenging task. Notably, no existing design support method is both rapid and tailored to the design process. In this study, we propose a holistic approach that applies data-driven methods in design search and optimization at successive stages of a design process. More specifically, a two-step surrogate model-based design method is proposed for the embodiment and detailed design stages. The Bayesian network classifier is used as the reasoning framework to explore the design space in the embodiment design stage, while the Gaussian process regression model is used as the evaluation function for an optimization method to exploit the design space in detailed design. These models are constructed based on one dataset that is created by the Latin hypercube sampling method and then refined by the Markov Chain Monte Carlo sampling method. This cost-effective data-driven approach is demonstrated in the design of a customized ankle brace that has a tunable mechanical performance by using a highly stretchable design concept with tailored stiffnesses.

On the formation of a New Paradigm of fiscal Policy

2013 ◽  
pp. 152-158 ◽  
Author(s):  
V. Senchagov
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Global Financial Crisis ◽  
Domestic Demand ◽  
Real Economy ◽  
New Paradigm ◽  
Monetary Aggregate ◽  
The Past ◽  
The Global Financial Crisis

Due to Russia’s exit from the global financial crisis, the fiscal policy of withdrawing windfall spending has exhausted its potential. It is important to refocus public finance to the real economy and the expansion of domestic demand. For this goal there is sufficient, but not realized financial potential. The increase in fiscal spending in these areas is unlikely to lead to higher inflation, given its actual trend in the past decade relative to M2 monetary aggregate, but will directly affect the investment component of many underdeveloped sectors, as well as the volume of domestic production and consumer demand.

ASPEK ETIK DAN SISTEMIK DALAM EKONOMI DAN BISNIS ISLAM

ALQALAM ◽  
2014 ◽  
Vol 31 (1) ◽  
pp. 187
Author(s):  
Budi Harsanto
Keyword(s):  
Financial Crisis ◽  
Business Ethics ◽  
Moral Hazard ◽  
Global Financial Crisis ◽  
Financial Institution ◽  
Research Question ◽  
Academic Journals ◽  
Lehman Brothers ◽  
The World ◽  
The Global Financial Crisis

The fall of Enron, Lehman Brothers and other major financial institution in the world make researchers conduct various studies about crisis. The research question in this study is, from Islamic economics and business standpoint, why the global financial crisis can happen repeatedly. The purpose is to contribute ideas regarding Islamic viewpoint linked with the global financial crisis. The methodology used is a theoretical-reflective to various article published in academic journals and other intellectual resources with relevant themes. There are lots of analyses on the causes of the crisis. For discussion purposes, the causes divide into two big parts namely ethics and systemic. Ethics contributed to the crisis by greed and moral hazard as a theme that almost always arises in the study of the global financial crisis. Systemic means that the crisis can only be overcome with a major restructuring of the system. Islamic perspective on these two aspect is diametrically different. At ethics side, there is exist direction to obtain blessing in economics and business activities. At systemic side, there is rule of halal and haram and a set of mechanism of economics system such as the concept of ownership that will early prevent the seeds of crisis. Keywords: Islamic economics and business, business ethics, financial crisis 

Mobilising resiliency in times of economic hardship: Emerging themes in migrant worker remittance payments

2014 ◽  
Vol 7 (2) ◽  
pp. 159-167
Author(s):  
Kevin Garlan
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Migrant Worker ◽  
Economic Hardship ◽  
Priority Areas ◽  
Mobile Payments ◽  
Payment Methods ◽  
The Future ◽  
Emerging Themes ◽  
The Global Financial Crisis

This paper analyses the nexus of the global financial crisis and the remittance markets of Mexico and India, along with introducing new and emerging payment technologies that will help facilitate the growth of remittances worldwide. Overall resiliency is found in most markets but some are impacted differently by economic hardship. With that we also explore the area of emerging payment methods and how they can help nations weather this economic strife. Mobile payments are highlighted as one of the priority areas for the future of transferring monetary funds, and we assess their ability to further facilitate global remittances.

The Pandemic Exposes an Ailing US Governance Model

2020 ◽  
Vol 119 (820) ◽  
pp. 310-316
Author(s):  
Alasdair Roberts
Keyword(s):  
Financial Crisis ◽  
Developing World ◽  
Global Financial Crisis ◽  
Political Polarization ◽  
Washington Consensus ◽  
The Past ◽  
Governance Model ◽  
Governance Challenges ◽  
The Global Financial Crisis ◽  
Current Governance

Since the 1990s and Bill Clinton’s embrace of key parts of Ronald Reagan’s legacy, mainstream US governance has been guided by a bipartisan consensus around a formula of shrinking the federal government’s responsibilities and deregulating the economy. Hailed as the ultimate solution to the age-old problem of governing well, the formula was exported to the developing world as the Washington Consensus. Yet growing political polarization weakened the consensus, and in a series of three major crises over the past two decades—9/11, the global financial crisis, and the COVID-19 pandemic—US policymakers opted for pragmatism rather than adherence to the old formula, which appears increasingly inadequate to cope with current governance challenges.

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