Risk-Cost Optimized Maintenance Strategy for Steel Bridge Subjected to Deterioration

This paper aims to develop a deteriorated bridge maintenance strategy that ensures the safe operation of steel structures and minimizes the total risk. Five common failure modes are considered for the deteriorated bridge: flexure, shear, deflection, fatigue failure for girder, and chloride attack for the concrete deck. Time-dependent and system reliability analyses are carried out to find the probability of failure under these failure modes. Risk-cost optimization is then used to determine the maintenance strategy. This method was applied to a working example. It was found that the developed maintenance strategy can predict when, where, and what to maintain for a bridge to ensure its safe and serviceable operation during its lifespan. The proposed methodology can help structural engineers and asset managers repair and maintain bridges under deterioration.

Acquaintance Management Algorithm Based on the Multi-Class Risk-Cost Analysis for Collaborative Intrusion Detection Network

The collaborative intrusion detection network (CIDN) framework provides collaboration capability among intrusion detection systems (IDS). Collaboration selection is done by an acquaintance management algorithm. A recent study developed an effective acquaintance management algorithm by the use of binary risk analysis and greedy-selection-sort based methods. However, most algorithms do not pay attention to the possibility of wrong responses in multi-botnet attacks. The greedy-based acquaintance management algorithm also leads to a poor acquaintance selection processing time when there is a high number of IDS candidates. The growing number of advanced distributed denial of service (DDoS) attacks make acquaintance management potentially end up with an unreliable CIDN acquaintance list, resulting in low decision accuracy. This paper proposes an acquaintance management algorithm based on multi-class risk-cost analysis and merge-sort selection methods. The algorithm implements merge risk-ordered selection to reduce computation complexity. The simulation result showed the reliability of CIDN in reducing the acquaintance selection processing time decreased and increasing the decision accuracy.

Determining the main criteria for selecting appropriate methods for repair and maintenance of commercial real estate in Iran

Purpose The average lifetime of a building in Iran is only one-quarter of the reported global average lifespan. A major reason why buildings in Iran have shorter service life is attributed to the inappropriate selection of the facility repair and maintenance (R&M) methods. Hence, selecting the appropriate R&M methods is critical in upholding or even extending the lifespan of the building. The purpose of this paper is to determine the main criteria for selecting the suitable R&M methods of commercial real estate (CRE) in Iran as a major challenge encountered by the Iranian construction industry. Design/methodology/approach The total number of identified criteria (related to the selection of the suitable R&M methods) is 16, which is divided into five clusters (referred as main criteria in this study): human resources; flexibility and technical capability; safety and risk; cost of maintenance; and facilities and technology. To analyze the identified criteria, the expert opinions were collected through both face-to-face interviews and distribution of Delphi survey questionnaires. A total of 12 industrial experts in the construction industry were invited to participate in a Delphi survey to solicit their perceptions and opinions on the identified criteria in this research. Findings The findings indicated that, among the five main criteria, the cost of maintenance is the most important criteria for selecting appropriate R&M methods of CRE in Iran. In addition, the criterion of facilities and technology was recognized as the least important among the main criteria. Originality/value The research, significantly, justified the configuration of non-compliance with the practice and its deliverables and developed a diagnostic study on the grounds of failure in the Iranian construction industry regarding the issues which are threatening the expected and desirable outcomes. The research achievements and suggested effective recommendations can serve as a useful policy and consultative instrument for the relevant stakeholders in the construction industry engaged in building R&M work.

Competitive risk strategy and entrepreneurial satisfaction among fast moving consuming goods in Nigeria during covid-19 pandemic using confirmatory factor analysis

This study examined the relationship between competitive risk and entrepreneurial satisfaction in fast moving consuming goods (FMCG) firms in Nigeria during covid-19 pandemic era. The study adopted quasi-experimental design and cross sectional design. Data were generated by quantitative and qualitative method. The employed used judgemental sampling techniques and non-proportionate stratified random sampling techniques. A total population of 6000, sample size estimate of 360 was determined using Krejcie and Morgan Table. Also, 360 copies of questionnaire were distributed to the accessible entrepreneurs’, while 329 copies were completed and retrieved. The instruments were validated with reliability above 0.7 Co-efficient, using SplitHalf Method to determine the internal consistency. Two research questions and two hypotheses were raised which was tested with Pearson Product Moment Correlation and KMO/Barllet’s test for the sampling adequacy for data appropriateness and sphericity respectively via SPSS 25 version. From the findings, the concept of competitive risk creates positive impact on client satisfaction. In conclusion, entrepreneurial risk cost strategy and differentiation risk strategy have significant influence on the entrepreneurial satisfaction of the FMCG firms. Based on the findings and conclusion, this study contributes to the knowledge that entrepreneurial satisfaction could be the sustaining and surviving concept to entrepreneurs if always considered in decision making during covid-19 pandemic era; while the differentiation risk cost strategy could give the FMCG firms a leading edge rather than bleeding if integrated with client satisfaction. It could be recommended that fast moving consuming goods firms should improvise entrepreneurial risk cost as strategy, because during the covid-19 pandemic the income level of client were affected in Nigeria. Hence, the entrepreneurs should employed cost advantage to domicile the FMCG markets to satisfied their client which enable them to gain large proportion of the market share ratio.

Infrastructure capacity planning for reducing risks of future hydrologic extremes

Floods and droughts and their associated economic, environmental, and social losses or damages are increasing in severity and frequency. Measures taken to reduce these losses or damages stemming from extreme events typically depend on how effective they are in reducing the consequences of having either too much or too little water and for longer periods of time. To identify trade-offs between the annual estimated loss or damage reduction, i.e., the benefits, however measured, and the average annual cost of various damage reduction measures, one can perform risk–cost analyses. Because of climate change, the likelihoods of future hydrologic extremes are both changing and uncertain. Also uncertain are any estimates of future damages that would occur given any specific extreme event. In addition, one cannot be certain of the future costs or benefits of damage reduction measures. This paper outlines a range of practical approaches for identifying these trade-offs, taking into account the uncertainties associated with future damages resulting from any specific flood or drought event, the changing uncertainties of future flood and drought events, and the uncertainty of future damage mitigation costs.

Corporate Risk, Cost Shifting, and Tax Avoidance

This study aims to investigate relationship between corporate risk, cost shifting, and tax avoidance. Using 50 companies of all manufacturing companies listed in Indonesian Stock Exchange, we try to investigate a corporate risk, cost shifting and tax avoidance in annual report audited over long time periods (5 years) sequentially. Then, we test the relationship between corporate risk and cost shifting to tax avoidance that reduced the firm’s income tax payments. This study provides evidence that companies with high risk are more likely to do tax avoidance and companies that have a good strategy in allocating their costs are driven by the behavior of minimazing tax payments. We also find that the higher of corporate risk will increase corporate tax payment to Internal Revenue Services. Keywords: Corporate Risk, Cost Shifting, and Tax Avoidance

Climate change adjustments in engineering design standards: European perspective

The European Commission Flood Risk Directive review shows that while many nations have embraced the concepts of flood risk management, there is still quite more to do in delineating risk–cost-effective measures and developing cost estimates and financing of those measures. Not mentioned are the necessary changes to existing design standards and protocols which will have to change in order to properly encompass climate change and variability, with associated uncertainties. Adjustments in engineering design standards and changes in hazards are examined, based on trend detection in observational records and projections for the future. Issues of urban and transport (motorways and railways) drainage design are also examined. Furthermore, risk reduction strategies are discussed. Finally, a way of accounting for non-stationarity in determining design precipitation and design floods is tackled. Climate change adjustments in engineering design standards, such as design precipitation and design floods, are reviewed via examples from Europe.