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Showing 2 results for Subject: Engineering Economics

Dr. Yahia Zare Mehrjerdi, Ehsan Haqiqat,
Volume 26, Issue 4 (11-2015)
Abstract

Abstract Project management in construction industry, in many cases, is imperfect with respect to the integration of Occupational Health and Safety (OHS) risks. This imperfection exhibits itself as complications affecting the riskiness of industrial procedures and is illustrated usually by poor awareness of OHS within project teams. Difficulties on OHS regularly came about in the construction industry. The integration of OHS risk is not systematic in construction areas in spite of progressing laws and management systems. As project safety and risk evaluation in construction industry is an important issue, thus, the way on doing evaluation and liability of estimation is necessary. In this paper, we propose a new systematic approach based on Latin Hypercube Sampling (LHS) for integrating occupational health and safety into project risk evaluation. This approach tries to identify and evaluate reinforcement effects in a systematic approach for integrating OHS risks into project risk assessment. Furthermore, the proposed method allows evaluating and comparing OHS risks before and after the mitigation plan. A case study is used to prove the workability, credibility of the risk evaluation approach and uncomplicated integration of OHS risks at a construction project. This approach enables continual revaluation of criteria over the direction of the project or when new information is obtained. This model enables the decision makers such as project managers to integrate OHS risks toward schedule plan and compare them before and after the mitigation plan. The mentioned model is found to be useful for predicting OHS risks in construction industries and thus avoiding accidents over the path of the project.

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Arezoo Jahani, Parastoo Mohammadi, Hamid Mashreghi,
Volume 29, Issue 2 (6-2018)
Abstract

Innovation & Prosperity Fund (IPfund) in Iran as a governmental organization aims to develop new technology-based firms (NTBF) by its available resources through financing these firms. The innovative projects which refer to IPfund for financing are in a stage which can receive both fixed rate facilities and partnership in the projects, i.e. profit loss sharing (PLS). Since this fund must protect its initial and real value of its capital against inflation rate, therefore, this study aims to examine the suitable financing methods with considering risk. For this purpose we study on risk assessment models to see how to use risk adjusted net present value for knowledge based projects. On this basis, the NPV of a project has been analyzed by taking into account the risk variables (sales revenue and the cost of fixed investment) and using Monte Carlo simulation. The results indicate that in most cases for a project, the risk adjusted NPV in partnership scenario is more than the other scenario. In addition to, partnership in projects which demand for industrial production facilities is preferable for the IPfund than projects calling for working capital.

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