Asset owner perspective on managing growth and reinvestment needs

Interface friction: An owner's perspective

Why sustainable construction? Why not? An owner's perspective

Performance Based Contract (PBC) is a contract that integrates the activities of technical planning and construction. This contrasts with the conventional contract, a contract that separates the parts of the job based on the project life cycle. The aims of this study are to find the factors of potential risks that often occur in the project, then analyze the global weight of each risk factor. Primary data was obtained by distributing questionnaires and interviews. Purposive sampling method was used to distribute the questionnaires to experts. The data was then processed to obtain the criteria and sub-criteria of risk that were used to construct a hierarchy and then processed using the AHP method. Risks involved in the project were analyzed using a conventional contract and Performance Based Contract, identified by the project life cycle: The Development And Concept Phase, Design Phase, Procurement Phase, Construction Phase, and Management Phase. The identified risks are the risk that occurs in the two types of contracts. Based Contracts with Analytical Hierarchy Process (AHP), the most risk is the poor of quality control in both of conventional contract and Performance Based Contract.

Improving the energy performance of existing building refurbishment has been identified as one of the key measures to reduce greenhouse gases (GHGs) emissions and combat climate change. According to Environmental Protection Department, buildings in Hong Kong take up almost 90% of urban electricity consumption. Sustainable building refurbishment not only can help decrease energy consumption but may also improve building’s overall condition, and thus prolong its life, uplift the living conditions, ensure better health and safety as well as minimize the negative effects to environment.
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\nTo respond to the energy emission reduction, many researchers focus on technical improvements through various refurbishment methods. However, there is a research gap in determining the appropriate refurbishment solutions for high-rise residential buildings in developed cities like Hong Kong. The challenge is aggravated as there are a number of owners and occupants in multi-storey residential buildings and their behaviour can be very different. Albeit more and more attentions have been attributed to human behaviours and occupant satisfaction, little has been done to examine their effects to the choices and success of sustainable refurbishment solutions. This study aims to systematically analyse the effect of human behaviour to the satisfaction of sustainable refurbishment by setting up a unified model so as to maximize the opportunity for emission reduction without sacrificing the satisfaction of owners and occupants.
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\nLiterature review was first conducted to attain the knowledge of sustainable refurbishment and human behaviour. Then, a list of potential sustainable building refurbishment method items was compiled under five criteria through literature review. In order to further examine the suitability of sustainable building refurbishment methods in Hong Kong scenario from the perspective of owners and occupants, a questionnaire survey was administered. Following that, literature review and interviews were carried out to identify a set of critical success factors (CSFs) of electing sustainable refurbishment strategies as well as key performance indicators (KPIs) of a sustainable building refurbishment scheme. Based on that, another questionnaire survey was conducted to examine the occupants’ perception to the relative importance of the identified CSFs and KPIs. Finally, a structural equation model was set up to unveil the relationships between occupants’ satisfaction and project success, and the findings were validated through expert interviews. The results shows that disruption is the most important factors affecting occupants’ decisions, followed by Management and Organization; Comfort; Cost; and Health and Safety. The technological and environmental accomplishments are proven to be the most important KPIs to the success of a sustainable building refurbishment project. The model developed can help decision-makers select on suitable sustainable building refurbishment methods to meet the social expectations of occupants while achieving the carbon emission target.

Introduction Supply Chain Visibility (SCV) is increasingly recognized as a critical enabler of effective material delivery, coordination, and risk management in industrial construction. However, the specific benefits of SCV and how they are perceived across stakeholder groups remain underexamined. This study provides an evaluation of SCV benefits from the perspective of owners, contractors, designers, and suppliers engaged in industrial construction projects. Methods Thirteen SCV benefits were identified through a detailed literature review and refined using structured expert workshops. These benefits were then evaluated through an industry survey (n = 165). The analysis used Relative Importance Index (RII) to rank the benefits, Kruskal–Wallis tests to assess between-group differences, and Percentage Agreement and Kendall’s tau rank correlation coefficient for the rank agreement analysis. Results The results reveal broad agreement on the top SCV benefits, including risk mitigation, ability to track and trace materials, field installation productivity improvement, and improved delivery timing. Notably, traditionally emphasized benefits like lead time reduction were ranked lower, suggesting unique visibility needs in construction compared to other industries. Kruskal–Wallis tests found no median differences between the four groups (all p > 0.05). The percentage agreement patterns and the Kendall’s tau rank correlation coefficient results indicate that contractors play a central role in aligning upstream and downstream visibility needs (Owner–Contractor, PA = 64.63%, τ-b = 0.555, adjusted p-value <0.05; Contractor–Supplier, PA = 65.47%, τ-b = 0.578, adjusted p-value <0.05). Discussion The benefit rankings offer construction professionals a benchmark for prioritizing and communicating SCV initiatives. The results also inform more targeted visibility strategies tailored to the roles and priorities of different stakeholder groups. This study is among the first to define and assess SCV benefits across multiple construction stakeholder groups. It contributes to theory and practice by offering a stakeholder-informed foundation for evaluating SCV in industrial construction.

Distributed key-value stores are rapidly evolving to serve the needs of high-performance web services and large-scale cloud computing applications. It is desirable to search directly over an encrypted key value (KV) store, as data is increasingly stored in the cloud. Encrypted, distributed and searchable key- value stores have been the focus of research, where a data owner outsources his key-value store to a remote server in the cloud in the encrypted form, yet still keeping it searchable. In this paper, we explore the encrypted KV store with the secure multi-client query support. In particular, the data owner can authorize multiple trustable clients (third parties) and allow them to search its encrypted database over KV store. The design goal is to ensure the data confidentiality and query privacy. From the data owner's perspective, the authorized query should not leak too much information thus causing threats to its private database. From clients' perspective, they have the explicit requirement that the query values should not be exposed to the data owner. We design two encryption schemes and token generation methods to satisfy different requirements. To validate the effciency of our protocols, we implement the system prototype to evaluate their performance.

In the architecture, engineering, construction, owner, and operator (AECOO) industry, there is growing interest in the use of building information modeling (BIM) for facilities management (FM). BIM prevents facility information from being lost, eases the access to data, and automates data entry. Despite these advantages, however, the adoption of FM BIM is facing slow growth. To promote the use of FM BIM, we need to understand the challenges of transitioning to BIM for facility owners. The objective of this research is to investigate the process and effort of developing and utilizing FM BIM. The research is based on a case study of a large public owner organization in Canada. The Owner recently completed the construction of an institutional facility that utilized BIM in design and construction. A pilot study was conducted to inform the owner of the effort to develop the handover BIM for FM purposes. The research was conducted in three phases: (1) the pre pilot study revealed the limitations of current FM processes, (2) the pilot study investigated the process to develop a FM BIM, and (3) the post pilot study identified the organizational barriers to utilizing the FM BIM. The pre pilot study revealed the inefficiencies in the daily FM practice and FM information systems, which was due to the poor quality of handover documents, inaccuracy of facility data, and lack of interoperability among the systems. These inefficiencies motivated the owner to consider the opportunities that BIM could provide for efficient data management. The pilot study detailed the process of developing the FM BIM, which included numerous steps: analyzing handover model, obtaining data from handover documents, populating the model, and attaching the O&M files. A significant amount of effort was required due to the poor quality of handover model, unorganized handover documents, and the absence of parameter template. Beyond these challenges, there were barriers to the utilization of the FM BIM, including the absence of BIM experts, lack of training, and lack of proper hardware and software, which emphasized the need for support from high-level management.

For PPP projects, the lowest price is not the top criteria for bidding winning, instead, the quality issue is a leading concern by the employer or government. Thus, contractors need to spend a lot of effort and expense in the bidding stage to balance profitability and quality, in order to reduce incurring costs in the construction phase. Encouraging high effort of the tenderer in the procurement stage is a critical problem based on the owner's perspective. Whereas, bid compensation is one of the suggestions which should be analyzed the feasibility in many scenarios. In this paper, the objective is to assess how to use effectively bid compensation in a particular case that has involving the owner, strong contractor, and normal contractor. Game-theoretic is applied to set up the modeling concept of bid compensation, as well as, explain strategic interaction between players. To solve the model is to solve the Nash Equilibrium solution. For purposes, this research should compare among models with the increasing number of bidders to provide the effectiveness of the bid compensation decision by the owner. Moreover, it will also be measured the weight of bid compensation amount that impacts to depth investing of bidder’s choice.

Experience in selecting and working with outside directors is not yet common among family business executives. This firsthand account from the president of a family firm describes how he chose his board and how he works with his directors.

<p>Managing large infrastructure systems is a multi-disciplinary activity requiring expertise from many areas, including fields of research beyond the typical scope of the structural engineer. The process of risk analysis and decision-making itself involves knowledge of the cognitive mechanisms and the psychology of economic decisions. Mere structural reliability is just one of many aspects affecting decisions, while economic, social, ethical and legal issues must also be considered in a risk model answering to the owner's perspective. This contribution focuses on the legal issues entailed by the authorization - to be issued by transportation agencies - of overweight traffic on road bridges. In fact, correct decision-making should consider the legal liability involved in possible catastrophic events. Currently, transportation agencies do not know how to behave in the case of transit applications on their bridges. This is because most bridges operating in Western Countries were built according to old codes that foresaw design loads inconsistent with today’s traffic demand. In this paper we illustrate how this problem is addressed by the Department of Transportation of the Italian Autonomous Province of Trento, a medium-sized agency managing approximately one thousand bridges across its territory. In their basic approach, APT does not authorize the transit of overweight loads unless it is demonstrated that the effect is less than that of the nominal design load. When this condition is not satisfied, a formal evaluation is carried out in an attempt to assess a higher load carrying capacity for the bridge. If, after the reassessment, the capacity is insufficient, the bridge is classified as sub-standard and a formal evaluation of the operational risk is performed in order to define a priority ranking for future reinforcement or replacement. We illustrate the system operation with a number of practical examples.</p>

Research background: The literature overview shows a blank space regarding the effects of ownership on the determination of enterprises' spatial distribution. Various papers identify differences between determinants of the spatial distribution of foreign direct investments, exporters in foreign ownership, and domestically owned exporters; however, they mostly agree on the role of big cities, economic centres, and state of infrastructure as well as historical patterns. Purpose of the article: The article focuses on the spatial distribution analysis of enterprise units from their owner's perspective on the empirical evidence from all 79 districts of the Slovak Republic. Special attention is given to the category of the least developed districts. Methods: Within the presented article, the authors investigate the characteristics of the regional spatial distribution of business entities concerning standard ownership categories using the cluster analysis. The presented approach is twofold: firstly, the authors investigate the share of individual ownership types on the district level, and secondly, the number of enterprises by ownership categories is adjusted to 100,000 inhabitants. Cluster analysis and methods of spatial statistics are applied in both approaches. Findings & value added: The main results show a relation between the district's inclusion into the group of the least developed districts and enterprise ownership characteristics in these districts mainly through the relative underrepresentation of the secluded inland, foreign and international types of ownership, as well as their geographical clustering. The results of the presented research can be used in policy-making targeting business activity in underdeveloped districts. At the same time, the results provide basis for limited theoretical generalisations based on a single-country case study with regard to principles of business ownership structures development.

Organizations need to have IT governance within a certain time frame or commonly referred to as an IT blueprint as a guideline for the organization's strategic planning in designing the needs, development and management of information systems and technology. Sekolah Tinggi Manajemen Informatika dan Komputer (STMIK) Muhammadiyah Paguyangan Brebes is a university that has the view that IS/IT strategic planning is a basic need that can be used to realize the vision and mission. The scope of this research is limited to the academic section (BAA) by dividing the main activities and supporting activities using the value chain, while the enterprise architecture methodology uses the Zachman framework which refers to the first line of the planner's perspective, the second line of the owner's perspective and the data, function and network columns. . This research produces a blueprint for information systems and technology that can be used as a reference in the development of information systems and technology in the 2021-2026 timeframe which has been tested with the results that it is feasible to apply in STMIK-MPB.

When effort cannot be costlessly monitored, Pareto optimal employee compensation schemes require that owners and managers deviate from perfect risk sharing to improve the work incentives facing the manager. This article investigates the implications of this misallocation of risk for the behavior of firms in which managers make decisions for owners. The presented model predicts that, from the owner's perspective, managers will exhibit excessive risk aversion and underinvest in risky projects.

The purpose of this study was to conduct in-depth interviews with restaurant owners regarding the concepts of “eating out service” and “dangol customers” and academically analyze the inherent views and factors that are considered when providing eating out services. First, the study found, from the restaurant owner's perspective, the values and philosophies of restaurant services, the difficult reality of small self-employed businesses, and the responsibilities and missions of the restaurant industry. Second, in terms of restaurant operation, the results highlighted the importance of improving and maintaining food tastes and employees to the restaurant's reputation and longevity. Third, in terms of technology, themes included the imperfection of robots and innovative smart devices, as well as positive considerations of serving and cooking robots to fight labor shortages. Finally, regarding dangol customers, this study identified humane and affective feelings that the restaurant owners exchange with them. Food was stressed as fundamentally important in food service, and to overcome the difficult reality of small self-employed businesses, the restaurant owners tried to find an appropriate service position and demonstrate consistent, humble, and pro-customer attitudes. In addition, efforts were made to remember and recognize dangol customers, maintain their trust, and exchange positive sentiments with them, so the relationships can last long. Despite the current technological and physical limitations, a gradual introduction of restaurant service technologies may complement the weakness of the Korean restaurant service industry and enhance its operational efficiency.

Simulating and comparing various price-driven bid selection methods from an owner's perspective. (c2017)