• Title/Summary/Keyword: Forecasting Ability

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MODELING ACCURATE INTEREST IN CASH FLOWS OF CONSTRUCTION PROJECTS TOWARD IMPROVED FORECASTING OF COST OF CAPITAL

  • Gunnar Lucko;Richard C. Thompson, Jr.
    • International conference on construction engineering and project management
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    • 2013.01a
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    • pp.467-474
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    • 2013
  • Construction contactors must continuously seek to improve their cash flows, which reside at the heart of their financial success. They require careful planning, analysis, and optimization to avoid the risk of bankruptcy, remain profitable, and secure long-term growth. Sources of cash include bank loans and retained earnings, which are conceptually similar in that they both incur a cost of capital. Financial management therefore requires accurate yet customizable modeling capabilities that can quantify all expenses, including said cost of capital. However, currently existing cash flow models in construction engineering and management have strongly simplified the manner in which interest is assessed, which may even lead to overstating it at a disadvantage to contractors. The variable nature of cash balances, especially in the early phases of construction projects, contribute to this challenging issue. This research therefore extends a new cash flow model with an accurate interest calculation. It utilizes singularity functions, so called because of their ability to flexibly model changes across any number of different ranges. The interest function is continuous for activity costs of any duration and allows the realistic case that activities may begin between integer time periods, which are often calendar months. Such fractional interest calculation has hitherto been lacking from the literature. It also provides insights into the self-referential behavior of compound interest for variable cash balances. The contribution of this study is twofold; augmenting the corpus of financial analysis theory with a new interest formula, whose strengths include its generic nature and that it can be evaluated at any fractional value of time, and providing construction managers with a tool to help improve and fine-tune the financial performance of their projects.

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Prediction of TBM disc cutter wear based on field parameters regression analysis

  • Lei She;Yan-long Li;Chao Wang;She-rong Zhang;Sun-wen He;Wen-jie Liu;Min Du;Shi-min Li
    • Geomechanics and Engineering
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    • v.35 no.6
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    • pp.647-663
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    • 2023
  • The investigation of the disc cutter wear prediction has an important guiding role in TBM equipment selection, project planning, and cost forecasting, especially when tunneling in a long-distance rock formations with high strength and high abrasivity. In this study, a comprehensive database of disc cutter wear data, geological properties, and tunneling parameters is obtained from a 1326 m excavated metro tunnel project in leptynite in Shenzhen, China. The failure forms and wear consumption of disc cutters on site are analyzed with emphasis. The results showed that 81% of disc cutters fail due to uniform wear, and other cutters are replaced owing to abnormal wear, especially flat wear of the cutter rings. In addition, it is found that there is a reasonable direct proportional relationship between the uniform wear rate (WR) and the installation radius (R), and the coefficient depends on geological characteristics and tunneling parameters. Thus, a preliminary prediction formula of the uniform wear rate, based on the installation radius of the cutterhead, was established. The correlation between some important geological properties (KV and UCS) along with some tunneling parameters (Fn and p) and wear rate was discussed using regression analysis methods, and several prediction models for uniform wear rate were developed. Compared with a single variable, the multivariable model shows better prediction ability, and 89% of WR can be accurately estimated. The prediction model has reliability and provides a practical tool for wear prediction of disc cutter under similar hard rock projects with similar geological conditions.

Improved Deep Learning-based Approach for Spatial-Temporal Trajectory Planning via Predictive Modeling of Future Location

  • Zain Ul Abideen;Xiaodong Sun;Chao Sun;Hafiz Shafiq Ur Rehman Khalil
    • KSII Transactions on Internet and Information Systems (TIIS)
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    • v.18 no.7
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    • pp.1726-1748
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    • 2024
  • Trajectory planning is vital for autonomous systems like robotics and UAVs, as it determines optimal, safe paths considering physical limitations, environmental factors, and agent interactions. Recent advancements in trajectory planning and future location prediction stem from rapid progress in machine learning and optimization algorithms. In this paper, we proposed a novel framework for Spatial-temporal transformer-based feed-forward neural networks (STTFFNs). From the traffic flow local area point of view, skip-gram model is trained on trajectory data to generate embeddings that capture the high-level features of different trajectories. These embeddings can then be used as input to a transformer-based trajectory planning model, which can generate trajectories for new objects based on the embeddings of similar trajectories in the training data. In the next step, distant regions, we embedded feedforward network is responsible for generating the distant trajectories by taking as input a set of features that represent the object's current state and historical data. One advantage of using feedforward networks for distant trajectory planning is their ability to capture long-term dependencies in the data. In the final step of forecasting for future locations, the encoder and decoder are crucial parts of the proposed technique. Spatial destinations are encoded utilizing location-based social networks(LBSN) based on visiting semantic locations. The model has been specially trained to forecast future locations using precise longitude and latitude values. Following rigorous testing on two real-world datasets, Porto and Manhattan, it was discovered that the model outperformed a prediction accuracy of 8.7% previous state-of-the-art methods.

Errors in the Winter Temperature Response to ENSO over North America in Seasonal Forecast Models

  • Seon Tae Kim;Yun-Young Lee;Ji-Hyun Oh;A-Young Lim
    • Journal of Climate Change Research
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    • v.34 no.20
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    • pp.8257-8271
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    • 2021
  • This study presents the ability of seasonal forecast models to represent the observed midlatitude teleconnection associated with El Niño-Southern Oscillation (ENSO) events over the North American region for the winter months of December, January, and February. Further, the impacts of the associated errors on regional forecast performance for winter temperatures are evaluated, with a focus on 1-month-lead-time forecasts. In most models, there exists a strong linear relationship of temperature anomalies with ENSO, and, thus, a clear anomaly sign separation between both ENSO phases persists throughout the winter, whereas linear relationships are weak in observations. This leads to a difference in the temperature forecast performance between the two ENSO phases. Forecast verification scores show that the winter-season warming events during El Niño in northern North America are more correctly forecast in the models than the cooling events during La Niña and that the winter-season cooling events during El Niño in southern North America are also more correctly forecast in the models than warming events during La Niña. One possible reason for this result is that the remote atmospheric teleconnection pattern in the models is almost linear or symmetric between the El Niño and La Niña phases. The strong linear atmospheric teleconnection appears to be associated with the models' failure in simulating the westward shift of the tropical Pacific Ocean rainfall response for the La Niña phase as compared with that for the El Niño phase, which is attributed to the warmer central tropical Pacific in the models. This study highlights that understanding how the predictive performance of climate models varies according to El Niño or La Niña phases is very important when utilizing predictive information from seasonal forecast models.

Keyword Network Analysis for Technology Forecasting (기술예측을 위한 특허 키워드 네트워크 분석)

  • Choi, Jin-Ho;Kim, Hee-Su;Im, Nam-Gyu
    • Journal of Intelligence and Information Systems
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    • v.17 no.4
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    • pp.227-240
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    • 2011
  • New concepts and ideas often result from extensive recombination of existing concepts or ideas. Both researchers and developers build on existing concepts and ideas in published papers or registered patents to develop new theories and technologies that in turn serve as a basis for further development. As the importance of patent increases, so does that of patent analysis. Patent analysis is largely divided into network-based and keyword-based analyses. The former lacks its ability to analyze information technology in details while the letter is unable to identify the relationship between such technologies. In order to overcome the limitations of network-based and keyword-based analyses, this study, which blends those two methods, suggests the keyword network based analysis methodology. In this study, we collected significant technology information in each patent that is related to Light Emitting Diode (LED) through text mining, built a keyword network, and then executed a community network analysis on the collected data. The results of analysis are as the following. First, the patent keyword network indicated very low density and exceptionally high clustering coefficient. Technically, density is obtained by dividing the number of ties in a network by the number of all possible ties. The value ranges between 0 and 1, with higher values indicating denser networks and lower values indicating sparser networks. In real-world networks, the density varies depending on the size of a network; increasing the size of a network generally leads to a decrease in the density. The clustering coefficient is a network-level measure that illustrates the tendency of nodes to cluster in densely interconnected modules. This measure is to show the small-world property in which a network can be highly clustered even though it has a small average distance between nodes in spite of the large number of nodes. Therefore, high density in patent keyword network means that nodes in the patent keyword network are connected sporadically, and high clustering coefficient shows that nodes in the network are closely connected one another. Second, the cumulative degree distribution of the patent keyword network, as any other knowledge network like citation network or collaboration network, followed a clear power-law distribution. A well-known mechanism of this pattern is the preferential attachment mechanism, whereby a node with more links is likely to attain further new links in the evolution of the corresponding network. Unlike general normal distributions, the power-law distribution does not have a representative scale. This means that one cannot pick a representative or an average because there is always a considerable probability of finding much larger values. Networks with power-law distributions are therefore often referred to as scale-free networks. The presence of heavy-tailed scale-free distribution represents the fundamental signature of an emergent collective behavior of the actors who contribute to forming the network. In our context, the more frequently a patent keyword is used, the more often it is selected by researchers and is associated with other keywords or concepts to constitute and convey new patents or technologies. The evidence of power-law distribution implies that the preferential attachment mechanism suggests the origin of heavy-tailed distributions in a wide range of growing patent keyword network. Third, we found that among keywords that flew into a particular field, the vast majority of keywords with new links join existing keywords in the associated community in forming the concept of a new patent. This finding resulted in the same outcomes for both the short-term period (4-year) and long-term period (10-year) analyses. Furthermore, using the keyword combination information that was derived from the methodology suggested by our study enables one to forecast which concepts combine to form a new patent dimension and refer to those concepts when developing a new patent.

Proposing Research and Development Activities for Utilizing the Global Precipitation Measurement (GPM) (전구강수관측(GPM) 활용을 위한 제언)

  • Sohn, Byung-Ju;Nam, Jae-Cheol;Park, Seon-Ki;Ahn, Myung-Hwan;Yoo, Jung-Moon;Lee, Hee-Sang;Chang, Dong-Eon;Ho, Chang-Hoi;Bae, Deg-Hyo;Kim, Seong-Jun;Oh, Hyun-Jong;Park, Seong-Chan;Kim, Ju-Hong
    • Atmosphere
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    • v.15 no.1
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    • pp.47-57
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    • 2005
  • Extending the success of the Tropical Rainfall Measuring Mission (TRMM), the spaceborne measurement of precipitation by Global Precipitation Measurement (GPM) is initiated. The GPM consists of a core satellite which will have a dual-frequency precipitation radar (DPR) and a constellation of small satellites equipped with microwave radiometers. The GPM is inherently a global program. Responding to the GPM plan, many other nations are much interested in participating in the GPM team or simply utilizing GPM products aiming at the development of meteorological technology. Korea can fully function its role if Korea is selected as a CAL/VAL site for the GPM because Korea maintains a well-established dense rain gauge network (AWS), precipitation radars, and the Haenam super site for surface observation. In this feasibility study, the necessities of the GPM project in the context of academical and social backgrounds and associated international and domestic activities are investigated. And GPM-related core technologies and application areas are defined. As a result, it is found that GPM will represent a great opportunity for us because of its ability to provide not only much enhanced three-hourly global rain products but also very useful tools for the enhancement of weather forecasting capabilities, management of water resources, development and implementation of monitoring techniques for severe weather phenomena, agricultural managements and climate application. Furthermore, rain retrieval and CAL/VAL technologies obtained during the involvement in the international GPM project will serve as basic knowledges to run our own geostationary satellite program.

A Case Analysis of Volcanic Ash Dispersion under Various Volcanic Explosivity Index of the Mt. Baegdu (백두산 분화 강도에 따른 화산재 확산 사례 분석)

  • Lee, Soon-Hwan;Jang, Eun-Suk;Lee, Hyun-Mi
    • Journal of the Korean earth science society
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    • v.33 no.3
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    • pp.280-293
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    • 2012
  • In order to clarify the characteristics of dispersion of volcanic tephra emitted from the Mt. Baegdu with various eruption environment, numerical analysis were performed using numerical models, Weather Research and Forecast (WRF) and FLEXPART. Synoptic conditions at 12 October 2010 was adopted because the volcanic ash of Mt. Baegdu can reach the Korean peninsula and its dispersion pattern was compared with different Volcanic Explosivity Index (VEI) and particle size. Predominant size of falling out ash flowing in the peninsular is smaller than 0.5 mm and the ash large than the size is difficult to get in the peninsular due to the its weak ability of truculent diffusion. the difference of ash distribution with various VEI scenarios is not so much but number density of ash in the air is dramatically changed. Volcanic ash tends to be deposited easily in eastern coastal area such as Gangneung and Busan, because of the inflow of ash from East Sea and barrier effect of the Taeback mountains along the east coast of the Korean Peninsula. Accumulated amount of ash deposition can be increased in short period in several urban areas.

An Analysis of Change in the Employment Structure Data Caused by the Industrial Revolution (산업혁명에 따른 고용구조 변화 데이터 분석)

  • Kim, JeaYoung;Kim, Hyunsoo
    • Journal of Service Research and Studies
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    • v.7 no.3
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    • pp.57-70
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    • 2017
  • It is anticipated that the employment structure of the whole industry will change drastically as the Fourth Industrial Revolution era arrives. Particularly, there are numerous reseraches that the development of artifical intelligence will promote automation causing jobs in manufacturing industry to decrease; thus, the economy will be reorganized with service-centered jobs, which heavily depend on human ability. This study was conducted to verify the trend-forecasting model based on the theoretical analysis. We analyzed the change in employment structure over the past decades in each country and period to gain insights from the changes in the employment structure caused by the Fourth Industrial Revoltion. The results of this study are as follows: First, we investigaed whether the current economy is moving along the U-shaped model suggested by an existing researcher. As a result of the analysis, the data substantiated that the change of the employment structure is moving along the U-shaped model. It is also suggested that this U-shaped trend is expected to accelerate in the era of the Fourth Industrial Revolution. In the future, more accurate data analyses are needed to verify the model, and additional researches on the change in the employment structed is also needed.

A Model to Forecast Rice Blast Disease Based on Weather Indexing (기상지수에 의한 벼도열병 예찰의 한 모델)

  • Kim Choong-Hoe;MacKenzie D. R.;Rush M. C.
    • Korean Journal Plant Pathology
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    • v.3 no.3
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    • pp.210-216
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    • 1987
  • A computer program written to predict blast occurrence based on micro climatic events was developed and tested as an on-site microcomputer in field plots in 1984 and 1985. A microcomputer unit operating on alkaline batteries; continuously monitored air temperature, leaf wetness, and relative humidity; interpreted the microclimate information in relation to rice blast development and displayed daily values (0-8) of blast units of severity (BUS). Cumulative daily BUS values (CBUS) were highly correlated with blast development on the two susceptible cultivars, M-201 and Brazos grown in field plots. When CBUS values were used to predict the logit of disease proportions, the average coefficients of determination $(R^2)$ between these two factors were 71 to $91\%$, depending on cultivar and year. This was a significant improvement when compared to 61 to $79\%$ when days were used as a predictor of logit disease severity. The ability of CBUS to predict logit disease severity was slightly less with Brazos than M-201. This is significant inasmuch as Brazos showed field resistance at mid-sea­son. The results in this study indicate that the model has the potential for future use and that the model could be improved by incorporating other variables associated with host plants and pathogen races in addition to the key environmental variables.

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Research Suggestion for Disaster Prediction using Safety Report of Korea Government (안전신문고를 이용한 재난 예측 방법론 제안)

  • Lee, Jun;Shin, Jindong;Cho, Sangmyeong;Lee, Sanghwa
    • Journal of Korean Society of Disaster and Security
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    • v.12 no.4
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    • pp.15-26
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    • 2019
  • Anjunshinmungo (The safety e-report) has been in operation since 2014, and there are about 1 million cumulative reports by June 2019. This study analyzes the contents of more than 1 million safety newspapers reported at the present time of information age to determine how powerful and meaningful the people's voice and interest are. In particular, we are interested in forecasting ability. We wanted to check whether the report of the safety newspaper was related to possible disasters. To this end, the researchers received data reported in the safety newspaper as text and analyzed it by natural language analysis methodology. Based on this, the newspaper articles during the analysis of the safety newspaper were analyzed, and the correlation between the contents of the newspaper and the newspaper was analyzed. As a result, accidents occurred within a few months as the number of reports related to response and confirmation increased, and analyzing the contents of safety reports previously reported on social instability can be used to predict future disasters.