Abstracts – Browse Results
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Afum, E, Issau, K, Agyabeng-Mensah, Y, Baah, C, Dacosta, E, Essandoh, E and Agyenim Boateng, E (2023) The missing links of sustainable supply chain management and green radical product innovation between sustainable entrepreneurship orientation and sustainability performance. Journal of Engineering, Design and Technology, 21(01), 167-87.
Afum, E, Sun, Z, Agyabeng-Mensah, Y and Baah, C (2023) Lean production systems, social sustainability performance and green competitiveness: the mediating roles of green technology adoption and green product innovation. Journal of Engineering, Design and Technology, 21(01), 206-27.
Ajayi, S O, Oyebiyi, F and Alaka, H A (2023) Facilitating compliance with BIM ISO 19650 naming convention through automation. Journal of Engineering, Design and Technology, 21(01), 108-29.
Al-Mohammad, M S, Haron, A T, Aloko, M N and Rahman, R A (2023) Factors affecting BIM implementation in post-conflict low-income economies: the case of Afghanistan. Journal of Engineering, Design and Technology, 21(01), 299-318.
Farouk, A M, Rahman, R A and Romali, N S (2023) Economic analysis of rehabilitation approaches for water distribution networks: comparative study between Egypt and Malaysia. Journal of Engineering, Design and Technology, 21(01), 130-49.
Goyal, S and Routroy, S (2023) Analyzing environmental sustainability enablers for an Indian steel manufacturing supply chain. Journal of Engineering, Design and Technology, 21(01), 1-22.
Koranteng, C, Simons, B, Abrokwa Gyimah, K and Nkrumah, J (2023) Ghana’s green building assessment journey: an appraisal of the thermal performance of an office building in Accra. Journal of Engineering, Design and Technology, 21(01), 188-205.
Lawal, Y S, Ibrahim, A M, Abubakar, M, Ishaq, Z H and Sa'ad, M M (2023) A simulation-based binomial model for building development appraisal. Journal of Engineering, Design and Technology, 21(01), 75-107.
- Type: Journal Article
- Keywords: binomial method; building investment; construction management; development option; Monte Carlo simulation; sustainable construction
- ISBN/ISSN:
- URL: https://doi.org/10.1108/JEDT-02-2021-0094
- Abstract:
Purpose: Building developments are often capital intensive, have a long payback period and many associated risks and uncertainties. This makes investments in building projects to be a big challenge. This study aims to develop a computerized simulation-based binomial model (CSBBM) for building investment appraisal with a view to improving the economic sustainability of proposed building projects. Design/methodology/approach: Mathematical equations and algorithms were developed based on the binomial method (BM) of real options analysis and then implemented on a computer system. A hybrid algorithm that integrates Monte Carlo simulation (MCS) and BM was also developed. A real-life project was used to test the model. Sensitivity analysis was also conducted to explore the influence of input variables on development option value (DOV). Findings: The test result shows that the model developed provides a better estimate of the value of an investment when compared with traditional net present value technique, which underestimate the value. Moreover, inflation rate (i) and rental value (Ri) are the most sensitive variables for DOV. An increase in i and Ri by just 5% causes a corresponding increase in DOV by 202% and 132%, respectively. While the least sensitive variable is the discount rate (r), as an increase in r by 5% causes a corresponding decrease in DOV by just 9%. The CSBBM is capable of determining the optimal time of development of buildings with an accuracy of 80.77%. Practical implications: The hybrid model produces higher DOV than that of only the BM because MCS considers randomness in uncontrollable variables. Thus, building investment decision-makers should always use MCS to complement the BM in an investment analysis. Originality/value: There is limited evidence on the use of this kind of hybrid model for determining DOV in practice. © 2021, Emerald Publishing Limited.
Nandeppanavar, M M, M.C, K and N, R (2023) Effect of non-linear thermal radiation on the stagnation point flow of double diffusive free convection due to movingvertical plate. Journal of Engineering, Design and Technology, 21(01), 150-66.
Osama, M, Sherif, A and Badawy, M (2023) Risk analysis of construction of administration projects using Bayesian networks. Journal of Engineering, Design and Technology, 21(01), 281-98.
Othman, A A E and ElKady, M M (2023) A knowledge management based framework for enhancing the learning culture in architectural design firms in developing countries. Journal of Engineering, Design and Technology, 21(01), 23-57.
Weerasekara, G K T, Shandraseharan, A, Perera, B A K S and Disaratna, V (2023) The impact of building morphology factors on the cost and aesthetical appearance of urban detached residential buildings in Sri Lanka. Journal of Engineering, Design and Technology, 21(01), 58-74.
Yu, T, Zhang, H, Sun, J, Wang, Y, Huang, S and Chen, D (2023) Study on generalized friction coefficient between base and surface layers of asphalt pavement. Journal of Engineering, Design and Technology, 21(01), 266-80.