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A Probabilistic Portfolio-based Model For Financial Valuation Of Community Solar.

Shakouri, Mahmoud; Lee, Hyun Woo; Kim, Yong-woo. (2017). A Probabilistic Portfolio-Based Model for Financial Valuation of Community Solar. Applied Energy, 191, 709 – 726.

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Abstract

Community solar has emerged in recent years as an alternative to overcome the limitations of individual rooftop photovoltaic (PV) systems. However, there is no existing model available to support probabilistic valuation and design of community solar based on the uncertain nature of system performance over time. In response, the present study applies the Mean-Variance Portfolio Theory to develop a probabilistic model that can be used to increase electricity generation or reduce volatility in community solar. The study objectives include identifying the sources of uncertainties in PV valuation, developing a probabilistic model that incorporates the identified uncertainties into portfolios, and providing potential investors in community solar with realistic financial indicators. This study focuses on physical, environmental, and financial uncertainties to construct a set of optimized portfolios. Monte Carlo simulation is then performed to calculate the return on investment (ROI) and the payback period of each portfolio. Lastly, inclusion vs. exclusion of generation and export tariffs are compared for each financial indicator. The results show that the portfolio with the maximum output offers the highest ROI and shortest payback period while the portfolio with the minimum risk indicates the lowest ROI and longest payback period. This study also reveals that inclusion of tariffs can significantly influence the financial indicators, even more than the other identified uncertainties. (C) 2017 Elsevier Ltd. All rights reserved.

Keywords

Solar Energy; Photovoltaic Power Systems; Monte Carlo Method; Market Volatility; Energy Economics; Community Solar; Monte Carlo Simulation; Photovoltaic Systems; Portfolio Theory; Uncertainty; Environmental Uncertainties; Financial Indicator; Financial Uncertainties; Physical Uncertainties; Identified Uncertainties; Probabilistic Model; Mean-variance Portfolio Theory; Probabilistic Valuation; Individual Rooftop Photovoltaic Systems; Financial Valuation; Probabilistic Portfolio-based Model; Investment; Monte Carlo Methods; Photovoltaic Cells; Risk Analysis; Tariffs; Resolution Lidar Data; Electricity Consumption; Pv Systems; Autoregressive Models; Potential Assessment; Generation Systems; Neural-networks; Energy; Buildings; Economic Theory; Electricity; Exports; Probabilistic Models; Risk

Developing a Decision-Making Framework to Select Safety Technologies for Highway Construction

Nnaji, Chukwuma; Lee, Hyun Woo; Karakhan, Ali; Gambatese, John. (2018). Developing a Decision-Making Framework to Select Safety Technologies for Highway Construction. Journal Of Construction Engineering And Management, 144(4).

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Abstract

Highway construction has consistently reported relatively high fatality rates largely because of the considerable exposure of workers to live traffic. To address this anomaly, traffic control planners are tasked with making decisions geared toward reducing hazardous situations caused by transiting vehicles and construction equipment. The growing application of technologies to enhance worker safety should be considered during the traffic control planning process. In certain cases, decisions such as choosing among technology options are made using experiential individual knowledge without the application of scientific and systematic decision-making methods. Use of experience-based decision making in this context is largely the result of sparse literature on scientific methods of selecting between alternatives in highway construction work zones. By applying the Choosing by Advantages (CBA) decision-making method, a process that achieves sound and effective decisions, the current study aims to fill the gap in practice by proposing a decision-making framework that could enhance the value-cost selection process of safety technologies in highway construction work zones. A situation that applied work zone intrusion alert technologies (WZIATs) was selected as a case study. Using a focus group session and case projects as an evaluation study process, the proposed framework based on the CBA decision-making process was applied to evaluate three WZIATs. Findings from the current study will benefit safety professionals and practitioners by providing a step-by-step approach to make sound decisions that can enhance the level of safety in highway construction work zones.

Keywords

Construction Equipment; Decision Making; Occupational Safety; Project Management; Road Building; Effective Decisions; Decision-making Framework; Value-cost Selection Process; Highway Construction Work Zones; Work Zone Intrusion Alert Technologies; Cba Decision-making Process; Sound Decisions; Traffic Control Planners; Worker Safety; Traffic Control Planning Process; Technology Options; Scientific Decision-making Methods; Systematic Decision-making Methods; Experience-based Decision Making; Advantages Decision-making Method; Safety Technologies; Knowledge; Signs

Identification and Reduction of Synchronous Replacements in Life-Cycle Cost Analysis of Equipment

Kim, Jonghyeob; Han, Sangwon; Hyun, Chang-taek. (2019). Identification and Reduction of Synchronous Replacements in Life-Cycle Cost Analysis of Equipment. Journal Of Management In Engineering, 35(1).

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Abstract

Life-cycle cost analysis (LCCA) is a methodology used to calculate the total cost of a project from initial planning to final disposal. In conventional approaches, LCCA assumes that regular and preventive maintenance will be performed according to each replacement cycle for individual components, and replacement for each component is considered independently. However, because the components of equipment used in buildings are installed systemically, replacements of major components may cause unexpected replacements of dependent minor components. Therefore, it is necessary to identify additional replacements based on the associations among these related replacement components to achieve a more reliable LCCA. In response, this study proposes an LCCA model that comprehensively considers the relationships among the maintenance components. The development of the model involves identifying relationships among components using social network analysis (SNA), arranging individual replacement timings of the components that reflect these relationships, and analyzing the life-cycle cost (LCC) based on the arranged timing. To validate the model, its applicability and effectiveness was illustrated and tested using 19 components of a rainwater reuse system. This study makes a theoretical contribution to the body of knowledge by suggesting concepts of synchronous relationships and replacements based on SNA. In addition, the use of the model proposed in this study enables practitioners to analyze LCCs that reflect synchronous replacements, which allows more reasonable decision-making considering hidden costs in conventional LCC. (C) 2018 American Society of Civil Engineers.

Keywords

Decision Making; Life Cycle Costing; Preventive Maintenance; Synchronous Replacements; Life-cycle Cost Analysis; Lcca Model; Maintenance Components; Social Network Analysis; Painted Surfaces; Decision-making; Prediction; Model; Risk; Maintenance; Replacement; Synchronous Replacement; Synchronous Relationship; Life-cycle Cost Analysis (lcca); Social Network Analysis (sna)

Neurophysiological Testing for Assessing Construction Workers’ Task Performance at Virtual Height

Habibnezhad, Mahmoud; Puckett, Jay; Jebelli, Houtan; Karji, Ali; Fardhosseini, Mohammad Sadra; Asadi, Somayeh. (2020). Neurophysiological Testing for Assessing Construction Workers’ Task Performance at Virtual Height. Automation In Construction, 113.

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Abstract

Falling from heights is the primary cause of death and injuries at construction sites. As loss of balance has a fundamental effect on falling, it is important to understand postural regulation behavior during construction tasks at heights, especially those that require precise focus in an upright standing position (therefore, a dual-task demand on focus). Previous studies examined body sway during a quiet stance and dual tasks to understand latent factors affecting postural balance. Despite the success of these studies in discovering underlying factors, they lack a comprehensive analysis of a task's simultaneous cognitive load, postural sway, and visual depth. To address this limitation, this paper aims to examine construction workers' postural stability and task performance during the execution of visual construction tasks while standing upright on elevated platforms. To that end, two non-intrusive neurophysiological tests, a hand-steadiness task (HST) and a pursuit task (PT), were developed for construction tasks in a virtual environment (VE) as performance-based means to assess the cognitive function of workers at height. Workers' postural stability was measured by recording the mapped position of the Center of Pressure (COP) of the body on a posturography force plate, and the postural sway metrics subsequently calculated. A laboratory experiment was designed to collect postural and task performance data from 18 subjects performing the two batteries of tests in the virtual environment. The results demonstrated a significant decrease in the Root-Mean Square (RMS) of COP along the anterior-posterior axis during the Randomized Pursuit Task (RPT) and maximum body sway of the center of pressure (COP) in the mediolateral direction during both tests. Also, subjects exposed to high elevation predominately exhibit higher accuracy for RPT (P-value = 0.02) and lower accuracy for HST (P-value = 0.05). The results show that the combination of elevation-related visual depth and low-complexity dual tasks impairs task performance due to the elevation-induced visual perturbations and anxiety-driven motor responses. On the other hand, in the absence of visual depth at height, high task complexity surprisingly improves the pursuit tracking performance. As expected, during both tasks, alterations in postural control were manifested in the form of a body sway decrement as a compensatory postural strategy for accomplishing tasks at high elevation.

Keywords

Task Performance; Construction Workers; Test Design; Cognitive Load; Standing Position; Sitting Position; Neurophysiological Test; Postural Stability; Virtual Reality; Workers' Safety At Height; Fall-risk; Reaction-time; Fear; Real; Acrophobia; Balance; Safety

Demystifying Progressive Design Build: Implementation Issues and Lessons Learned through Case Study Analysis

Shang, Luming; Migliaccio, Giovanni C. (2020). Demystifying Progressive Design Build: Implementation Issues and Lessons Learned through Case Study Analysis. Organization Technology And Management In Construction, 12(1), 2095 – 2108.

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Abstract

The design-build (DB) project delivery method has been used for several decades in the US construction market. DB contracts are usually awarded on the basis of a multicriteria evaluation, with price as one of the most salient criteria. To ensure the project's success, an owner usually has to invest enough time and effort during scoping and early design to define a program, scope, and budget, ready for procurement and price generation. However, this process can become a burden for the owner and may lengthen the project development duration. As an alternative to the traditional DB, the progressive design-build (PDB) approach permits the selection of the DB team prior to defining the project program and/or budget. PDB has the advantage of maintaining a single point of accountability and allowing team selection based mainly on qualifications, with a limited consideration of price. Under PDB, the selected team works with the project stakeholders during the early design stage, while helping the owner balance scope and budget. However, the key to the effectiveness of PDB is its provision for the ongoing and complete involvement of the owner in the early design phase. Due to the differences between PDB and the other project delivery methods (e.g., traditional DB), project teams must carefully consider several factors to ensure its successful implementation. The research team conducted a case study of the University of Washington's pilot PDB project to complete the West Campus Utility Plant (WCUP). This paper carefully explores and summarizes the project's entire delivery process (e.g., planning, solicitation, design, and construction), its organizational structures, and the project performance outcomes. The lessons learned from the WCUP project will contribute to best practices for future PDB implementation.

Keywords

Progressive Design Build; Project Delivery Method

Factors Affecting Material-Cart Handling in the Roofing Industry: Evidence for Administrative Controls

Zhang, Zhenyu; Lin, Ken-yu; Lin, Jia-hua. (2021). Factors Affecting Material-Cart Handling in the Roofing Industry: Evidence for Administrative Controls. International Journal Of Environmental Research And Public Health, 18(4).

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Abstract

Material-cart handling can be strenuous and lead to overexertion injuries. The aim of this study is to produce a thorough understanding of how the cart condition, tire type, physical environment-related factors, and load interact to influence the ergonomics and productivity of cart handling. Eighteen roofing carts with different conditions, tires, and loads were tested by one subject on three laboratory tracks: one L-shaped, one with ramps within constrained spaces, and one with obstacles within constrained spaces. A multiple linear regression analysis was performed to quantify the main and interaction effects of the factors of interest on the cart operations. The research findings confirm that using aged carts increases the injury risk by as much as 30.5% and decreases productivity by 35.4%. Our study also highlights the necessity of keeping an open space for cart operation; the travel distance from a cart to a ramp/obstacle should be greater than 61 cm. Finally, the results suggest the at-risk thresholds for different ramp slopes and obstacle heights, and the safe load capacities for the various working circumstances that are common on construction sites. The evidence created in this study can be translated into administrative controls for cart handling to reduce overexertion injuries and enhance performance.

Keywords

Overexertion In Pulling And Pushing; Material Cart Handling; Roof Construction; Ergonomic Risk Factors; Administrative Control

A Case Study of Activity-Based Costing in Allocating Rebar Fabrication Costs to Projects

Kim, Yong-Woo; Han, Seungheon; Shin, Sungwon; Choi, Kunhee. (2011). A Case Study of Activity-Based Costing in Allocating Rebar Fabrication Costs to Projects. Construction Management And Economics, 29(5), 449 – 461.

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Abstract

How to improve cost allocation for reinforced steel bar (rebar) is an ongoing topic of debate among construction manufacturers and contractors. Traditionally, many fabrication shops have used a single overhead-cost pool accounting system. However, a new costing method, activity-based costing (ABC), may provide more advantages than the traditional system. In this case study, a single overhead-cost pool system is compared with the ABC method to demonstrate how ABC improves cost allocation and provides other benefits. The case study findings indicate that ABC provides such benefits as (1) accurate manufacturing costs; (2) cost information on processes; and (3) information on cost drivers. This paper also bridges the construction and cost accounting literature. Our study contributes to the construction management literature by offering a different cost allocation method to refine fabrication costs assigned to projects. The findings are expected to serve as a reference for industry professionals who recognize the shortcomings of a traditional single overheadcost pool system and are in need of a more accurate costing system. © 2011 Taylor & Francis.

Keywords

Bridges; Costs; Fabrication; Lakes; Project Management; Rebar; Accounting System; Activity Based Costing; Construction Management; Fabrication Shops; Industry Professionals; Manufacturing Cost; Overhead Costs; Traditional Systems

Environmental Impacts Comparison between On-site vs. Prefabricated Just-in-Time (Prefab-JIT) Rebar Supply in Construction Projects

Kim, Yong-Woo; Azari-N, Rahman; Yi, June-Seong; Bae, Jinwoo. (2013). Environmental Impacts Comparison between On-site vs. Prefabricated Just-in-Time (Prefab-JIT) Rebar Supply in Construction Projects. Journal Of Civil Engineering And Management, 19(5), 647 – 655.

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Abstract

In the on-site rebar delivery system, as the common method of rebar supply in the construction industry, reinforced steel bars are delivered in large batches from supplier's facilities through contractor's warehouse to the construction site. Rebars are then fabricated on-site and installed after assembly. In the new delivery system, called prefabrication Just-In-Time (prefab-JIT) system, the off-site cut and bend along with frequent rebar delivery to the site are applied in order to improve the process and increase its efficiency. The main objective of this paper is to assess and compare the environmental impacts resulting from the air emissions associated with the two rebar delivery systems in a case study construction project. Environmental impact categories of interest include global warming, acidification, eutrophication, and smog formation. A process-based cradle-to-gate life cycle assessment methodology is applied to perform the analysis. The results show that the prefab-JIT rebar delivery system causes less contribution to all mentioned environmental impact categories compared with a traditional on-site delivery system.

Keywords

Environmental Impact Analysis; Comparative Studies; Microfabrication; Construction Industry; Reinforcing Bars; Contractors; Product Life Cycle; Environmental Impacts; Life Cycle; On-site Rebar Delivery System; Prefab-jit; Bars; Contracts; Global Warming; Just-in-time; Prefabricated Construction; Product Life Cycle Management; Project Management; Rebar; Steel; Warehousing; Waste Reduction; Smog Formation; Eutrophication; Acidification; Air Emissions; Prefab-jit System; Construction Site; Contractors Warehouse; Reinforced Steel Bars; Construction Projects; Prefabricated Just-in-time Rebar Supply; Environmental Impacts Comparison; Process-based Cradle-to-gate Life Cycle Assessment Methodology; Energy; Products; Wood

Risk Management Strategies for Privatized Infrastructure Projects: Study of the Build-Operate-Transfer Approach in East Asia and the Pacific

Lee, Namhun; Schaufelberger, John E. (2014). Risk Management Strategies for Privatized Infrastructure Projects: Study of the Build-Operate-Transfer Approach in East Asia and the Pacific. Journal Of Management In Engineering, 30(3).

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Abstract

Private-public partnerships have been adopted for the development of public infrastructure to meet the growing demand for public services. Many Asian countries have used the build-operate-transfer (BOT) approach to develop public infrastructure projects. However, the potential benefits of undertaking a BOT project are accompanied by corresponding risks from the private sector's perspective. The objectives of this study are (1)to identify and discuss major risks inherent in the East Asia and Pacific regions, and (2)to propose risk management strategies for future BOT projects to be successful. This paper reports the results of five case study analyses undertaken to review their primary risks and mitigated methods. In addition, this paper proposes some strategies for future BOT projects. Two main categories of risks were analyzed: general risks and project-specific risks. Risk management strategies were suggested for each category of risk. The main finding of this study indicates that the private sector cannot be the only participant in risk management. The host government's active support is the most essential factor for the profitability and economic viability of a BOT project in the East Asia and Pacific regions.

Keywords

Organisational Aspects; Project Management; Public Administration; Public Utilities; Risk Management; Structural Engineering; Risk Management Strategies; Privatized Infrastructure Projects; Build-operate-transfer Approach; East Asia; Private-public Partnerships; Public Services; Asian Countries; Public Infrastructure Projects; Pacific Regions; Future Bot Projects; Project-specific Risks; General Risks; Build-operate-transfer; Privatized Infrastructure