Choosing the right type of technology to integrate into a building design is not an easy task and any miscalculations or incorrect selections can lead to increased energy costs, lower that average outputs, and insufficient amount of services or comfort for users. Problems in decision making are most notable in design phase for new construction where designers attempt to match building & product specifications, and installation phase for existing buildings.
This is categorized into 4 contexts, where the choice between using new technology and existing technology runs a thin line, more often than not, determined by architects & engineering consultants through Costs, Quality and Brand name of technology (Tuominen, 2001);
- Conceptual design
- Schematic detailing
- Design development stages
- Existing conditions for technology installation in building (requirements & performance),
This narrows a building designs scope that doesn’t allow for embracing different brand name products which may or may not provide better functions and services.
A recognized feature of building design practice is the need to make Changes to previous aspects of design as process continues. Iteration is often used where earlier details at one level must be adjusted or changed when more detailed issues are addressed, and when these changes in design occur there is often the need for change in technology specifications to meet the new design details.
Only in standardized design situations can effective technology selection and procurement be done without back tracking or making changes, such as in residential building and hotels (Garud, 1997).
In retrospect, preliminary meetings between myself and Architects & Engineers from design firms based in Bangkok, Thailand, has revealed that “Many Designers choose Technology products from suppliers and manufacturers whom they have a good working relationship with, or have used their technology in past projects”. It was also revealed that Designers in the construction industry are reluctant to embrace new suppliers or manufacturers in the market, as their products are untested for success or failure in construction projects and there is high risk in embracing these new technologies.
As mentioned previously, the development of technology for buildings and infrastructures has become one of the fastest growing markets in today’s economy, with multitude of products becoming more increasingly available to clients, designers and the general public alike. With this choice and availability comes the most commonly asked question in technology selection: Which One?
In today’s markets, Costs and Brand name alone cannot be seen as good measures for technology selection. A wide range of parameters must be considered, some of which include product lifecycle, maintenance and spare parts, certification and governmental standards, etc. Therefore, taking all these parameter into account, the problem becomes apparent;
“There is a need for suitable Decision-making & Selection Methods / Techniques for choosing the most appropriate M&E building technology systems for any one given construction project.”
In addressing the problem of choosing the right type of technology for any building project, and considering all factors which affect technology design & development, Mr. James Suvanaphen made a research which the core objectives were to: (1) investigate Current Technology selection practices in the construction industry; (2) design a Process & Decision model portraying an efficient selection technique; and (3) examine effectiveness of both models from its use by a Design professional.
To assess the success or failure of the both Process & Decision model on a Design project by way of Survey feedback on its usefulness from potential users, i.e.; Architects and Engineers.
This study focused on the trends of current technology in Building construction, looks at its usage compared with existing technology, and attempts to portray an efficient technique in technology selection for the benefit of any one construction project, in terms of financial costs, innovation, procurement and sustainability.
One of the main purposes of supplementing the Process model is to create guidelines for Consultants in selecting M&E equipment for various Building projects, through development of a Technology Comparator; a technology awareness tool that consultants can use to determine feasibility of using different M&E technologies in projects by looking at parameters such as design, functions, procurement, etc (This term is later referenced as the Decision Model)
Outcome of Model implementation in the Construction industry
The final analysis of this research study involves examining the feasibility of both the Process & Decision model when used by Architects and Engineers in the Construction Industry of Thailand. This analysis is concurrent with the 3rd objective of CHP 1 to examine model effectiveness. To start off, one copy of both the Process & Decision models were sent to an Architectural design consultants firm* based in Thailand for their use and assessment**.
The models were sent in late March 2007 and feedback was received towards the end of April 2007. This feedback came in the form of a written statement from the firm, as an overview of the opinions of many of their Architects regarding the feasibility of both models. It should be noted at this point that both models were not fully used by the Architects due to the lengthy process time it takes to implement the use of the models, and the short assessment time of this analysis. A summary of this feedback statement is presented below;
In evaluation of both models, it was discovered that not everyone at the Architectural firm was keen to use a Decision model as they may see it as a relatively time consuming exercise rather than a measurement tool. However, it was also relayed that the Architects were keener to use the Process model because it shows the selection process from a broader perspective and visualizes “the big picture” in technology selection. They had commented that the Process model in itself portrayed an effective selection technique which, given more time, they would like to use on their projects.
In regards to the Decision model, some positive comments were made about the model as portraying a clear view of the selection process, similar to the Process model. However, other comments relayed that the technology selection chart used a rather crude method of assigning values, and there were suggestions of using a more precise numerical rating method, such as Fuzzy sets. Nonetheless, it was stated in the objectives of this study that the chart would portray a simple calculation method that everyone would understand.
It was also discovered that the lead & response time from Building services contractor in reviewing and selecting appropriate suppliers was taking too much time, and may cause minor delays in the long run of using the models. However the firm also stressed that it is Building services contractors who were more qualified to select these suppliers as they had or would have to work with them in inspecting, installing and commissioning all building technology products
One final piece of information that was conveyed during this final analysis from the Architectural firm was that in the Building technology industry, hindsight had led them to believe that the one method that Architects and Engineers use the most to select their technology products is their experience with past products and suppliers. This is because they had successfully used technology in past projects and feel that they can rely on this same technology or suppliers for use in their new projects. The firm assumed that people involved in the selection process would be unwilling to try new technology products that are released into the market as there is a high risk involved, from not knowing if the new product can be successful in new projects or not.
*: This Architectural firm reserved the right to remain anonymous during this final analysis.
**: A similar copy of both models was sent to an M&E engineering consultants firm in Thailand as well, however no feedback was received in time to convey a final assessment from their point of view. Therefore their inclusion in this evaluation had to be voided under these circumstances.
Discussion
The models proposed in this Research study are basically attempts to simplify and organize the Technology product & Supplier selection process. It matches considerations which are important to decision makers who need to make selection decisions. Since decision makers should be directly involved with the selection process at each of its stages, support tools (either manual or computer based) may be essential to implement any single technique used, and the models leaves the choice of components or parameters to be used in any of these techniques up to the decision makers. This generic approach also allows each component or parameter chosen to be integrated into a decision support system which provides far better and more acceptable selections than those which can be generated by any single technique discussed throughout this Research study. Because of the concept of using “stages”, it is possible to eliminate certain stages if the model user finds it more efficient to do so. It is suggested to users that after their first application of the models, strategy development and component or parameter selection need only be reviewed as required, and not every time a new technology system is re-considered. Also, Technology screening is discretionary since it is used only to reduce the number of Products in the selection stage. This may not be needed if the number of Products is small or if there are interdependencies among all the Products being considered.
Conclusion
This research study addressed the current problems facing Architects and Engineers in the selection of suitable Building Technology products for any Construction project, and attempts to suggest many solutions to alleviate these problems. These solutions initially come in the form of 2 generic models based on current technology components & parameters used in the industry. However, in the end the choice of Technology product ultimately rests with the client, being the governing body that is investing in a project, therefore they dictate how their money is spent. The only thing that Architects and Engineers can really do regarding Technology selection is advise the clients and make potable suggestions as best as they could.
But this does not mean that the process of Technology selection should be taken for granted. As shown throughout this research study, technology selection techniques are essential in providing the most efficient measurement & awareness tool to get the most suitable machines and equipment there is for a building project. Current issues surrounding technology selection such as energy saving, sustainability and alternative energy sources are being addressed at the economic global level, and will affect the way a supplier designs and manufactures their product. It is hoped that the research and solutions presented in this study will help all parties involved in making the right choice in technology selection, both now and in the future.
His thesis abstract is copied and posted.
ABSTRACT
This Research Study aimed to examine the impact of Supplier selection on Building technology selection in a Construction project, and the outcome of comparing one technology product against another to assist Architects and Engineers in making the correct choices in the selection and decision making process. In doing so, its main objective was to design potent models which could be applied to the technology selection process and used accordingly.
In this Research study, details regarding the current industry practices of the UK and Thailand were analyzed to form models of the current techniques being used today. A survey of Architects and Engineers was also conducted to gather more information and data straight from design professionals in the field of Building technology. This survey took the form of interview and questionnaires with professionals in the UK and Thailand.
Analysis of all these data resulted in extracting components and parameters for use in the design process of a Supplier selection and Technology comparison model as mentioned above. These models were then supplied to an Architectural firm for their use and assessment of its feasibility as an efficient measurement tool.
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Professional Masters in Project Management and CEIM Graduation Photo
Dear All
MPM2 Vung Tau, MPM2 HCM, MPM1 Hanoi and PETRAIT and CEIM programs finally received their degree in December 2009 in AIT Main Campus Thailand.
Everybody look very happy in the photo.
Congratulations!
The name of the graduants and project case study topic:
Name - Thesis or Project Case Study Title
Nguyen Van Tam - Claims in Building Project in Public Sector ; Case Study in Mekong Area, Vietnam.
Karma Gyamtsho - Collaboratie Strategy Between Stakeholders of Hydropower and Power Intensive Industry in Bhutan.
Sonam Tobgay - Construction Claim Types and Causes: A Study of Tala Hydroelectric Project, Bhutan.
Willy Sanjaya - The Characteristics of Innovative Construction Project: A Study in Thailand Construction Industry.
Andi Sanjaya - Strategy in Working Capital Management under Adverse Economic Condition: A Case Study of Indoesia Construction SMEs.
Dang Dinh Lam - Design Management for Architectual Project: A Case Study of PVMTC-Petrovietnam Building Project.
Phan Vu - The delay factors in building construction stage - a case study of office builing in HCMC., Vietnam
Tran Thi Nguyen Cat - THE COMMUNICATION IN DESIGN PROCESS BETWEEN THE EMPLOYERS AND CONSULTANTS
Phan Hong Hoan - Factors causing delay in construction project - a case study of commercial construction project in HCM city
Le Hoai Viet - APPLICATION OF PROJECT MANAGEMENT FUNCTIONS IN SMALL CONSTRUCTION COMPANIES: CASE STUDY OF SMALL CONTRACTORS IN HOCHIMINH CITY
Nguyen Canh Toan - COMMUNICATION MANAGEMENT WITHIN CONSTRUCTION PROJECT TEAM: A CASE STUDY OF CONDOMINIUM PROJECT IN HO CHI MINH CITY
Le Khac Bao - The Construction Logistic for pre engineering building (PEB) construction
Bui Van Cuong - PRACTICES OF CONTRACTOR OF SCHEDULE/COST PLANNING AND CONTROL - A CASE STUDY OF RESETTLEMENT HIGH-RISE BUILDING PROJECT IN HO CHI MINH CITY
Nguyen Phong - Matrix structure in small scale & fast track construction project - A case study of fitting out & interior project
Bui Giang Nam - Focus on Fabrication and Erection of Steel Structure
Tran Hong Quan - Project Owner’s Quality Management System – A case study of Estella Residential Development Building Construction Project
Nguyen An Khe - SOME CASE STUDIES COMPARING THE ROLE OF ENGINEER BETWEEN VIETNAMESE AND FIDIC CONTRACT
Hoang Ngoc Anh Focus on Risk in New Urban Infrastructure Development Project
Nguyen Thi Thanh Truc CLAIM MANAGEMENT AND ANALYSIS CASE STUDY OF HYDROPOWER PLANT
Nguyen Hoang Anh Chuong In New Residential Development Project ; Focus on Cost and Financial Management
Nguyen Huynh Trung Hai GREEN BUILDING : ISSUES, APPROACHES AND IMPLEMENTATION.
Nguyen Duc Hung Project delay in machenical factory construction project
Nguyen Huu Phuc Project Materials Management for Telecom steel Towers erected project in Vietnam
Hoang Don Dung Safety and Quality Management for Construction Temporary Structure with Reference of Construction Regulation and Contract in Vietnam.
Pham Thi Ngoc Hien Cash flow projection management in small – medium sized Vietnamese Contractor
Nguyen Anh Kiet QUALITY MANAGEMENT IN DESIGN PHASE OF CONSTRUCTION PROJECT
Mr.Truong Quang Dien Delays in construction project in Vietnam, causes and effects
Mr. Hoang Huu Cam A case study of delay in commissioning actitvity of Phu My Gas Distribution Center Project, Vietnam
Mr. Tran Dang Thuyet Owner’s EPCI Contract Management for Oil and Gas Development Projects – A Case Study of Vietnam Oil and Gas Project
Mr. Pham Xuan Thinh Some main factors affecting quality of construction projects- A case study of Expanding phase III port – Petroleum technical service base in Vung Tau, Vietnam
Mr. Le Van Thong Quality management in construction project
Mr. Do Van Hanh Contract management-how owner can responsible to change order in Oil and gas project management
Ms. Pham Thi Thuy Giang Subcontractor management of pipeline construction project
Mr. Phan Tuong Liem Engineering, procurement, construction (Epc)contract management- Case study: epc contract management for rang dong full field development block 15-2 offshore vietnam
Mr. Tran Tuan Binh Quality Management and soil improvement of PVMPC
Mr. Nguyen Sinh Khang Owner's Project cost management approach: A Case study of underground oil storage cavern project in Vietnam.
Mr. Dang Viet Cuong "FACTORS INFLUENCING TO BENEFIT OF PROJECT
A CASE STUDY OF PETROVIETNAM HOTEL
COMPLEX PROJECT"
Ms. Pham Minh Nga "Integration of Gas Gathering System in Oil Field Development Project
A solution for Offshore Oil Field Early Development - CASE STUDY: GAS PIPELINE SYSTEM FOR BLOCK 16-1 TGT FIELD &
15-2/1 HST – HSD FIELD DEVELOPMENT
"
Mr. Nguyen Dinh Duong DELAYING CAUSES IN SUB-PROJECTS OF THE HO CHI MINH NATIONAL HIGHWAY CONSTRUCTION PROJECT
Mr. Tran Dang Manh Customer-driven strategy and KPIs using CRM approach- a case study of construction enterprises in Vietnam
Mr. Bui Tien Dung "CONTRACT CLAUSES IN EPC thermal power PROJECTS - A CASE STUDY OF Hai phong thermal power PROJECT
"
Mr. Pham Quoc Hung QUALITY MANAGEMENT SYSTEM FOR MANUFACTURER AND CONTRACTOR OF PRE-CAST PILE FOUNDATION
Ms. Nguyen Thi Thu Huong DELAY CAUSES IN THE CONSTRUCTION OF THE REFINERY PROJECTS IN VIETNAM– A CASE STUDY ON THE DUNG QUAT REFINERY PROJECT.
Mr. Vu Dinh Duy "CONTRACT CLAUSES IN EPC CONTRACT - A CASE STUDY OF DINH VU POLYESTER PROJECT, HAI PHONG, VIETNAM
"
Mr. Le Tu Anh "MARINE FACILITY DESIGN AND ITS IMPACT TO PROJECT COST IN
REFINERY PROJECT -A CASE STUDY OF NGHI SON REFINERY AND PETROCHEMICAL COMPLEX PROJECT
"
Mr. Dinh Van Ngu "MANAGING THE PRECOMMISSIONING AND
COMMISSIONING PHASE IN EPC CONTRACT
A CASE STUDY OF DUNG QUAT REFINERY PROJECT, QUANG NGAI, Vietnam
"
Regards
Hadikusumo
Analysis Of The Dynamic Behavior Of Office Building Demand And Supply
The 2000’s have claimed as the most fluctuated decade of the Thailand’s real estate economic as well as overall economic. Before 1997, the Capital Companies go abroad to do the road show exhibition and bring back a lot of money to the country. This situation created the economic that the academician called “Bubble Economy” (The economic that speculates the profit is more than the fundamental economic). This Bubble Economy encouraged the Real Estate Market to have highest growth, the land and stock price went up also with the loan interest rate. Thai people expended money more than usual (Thai people expend money around 10% of GDP).
From GDP graph the Bubble Economy can stay for a while. So in the early 1996 the problems of the economic happen, the GDP (Gross Domestic Product) of the country reduce 8.2% because of the principal’s enlargement. Institutional Investor Magazine, Standard & Poor's, Fitch And Moody's reduce the credit rank of Thailand from A to Ba1 that make untruth to the foreign investors. The foreign investors withdraw the capital from Thailand (call the loan back to their country) that effect to the Real Estate Economic. So in the late 1996, the foreign companies didn’t give any loan to Thailand that made the Financial Institution be illiquid. Finally, 1997 the Bubble Economy was broken and the real estate market was dead end. Thailand came to the economic crisis and the economic went to down turn.
(Source: Institutional Investor Magazine, Standard & Poor's, Fitch And Moody's, 1997)
In 2000 the government tried to recover the economic by using the public finance strategy to stimulate the economic. The strategy effect on the interest rate of the loan because the government wanted to reduce the interest to activate the economic and reduce the debt responsibility of the government. The interest rate reduce from 15.25 - 15.50% to 11.50 - 12.00% in the end of 1999 and 8.25 - 8.50% and 8.00 - 8.50% in March 2000. Because of the low interest rate of loan the investors tried to invest in the economic again and help the economic went up. When the economic went up the real estate economic was come to the up turn also. But the up turn didn’t take a long time.
In 2006, the Government Housing bank does the research “The model to predict the trend of the real estate in Thailand”. That research indicate that the demand of the people who live in Thailand in any kind and prize of the real estate is 257,130 units in 2003 and has trend to increase to 294,966 in 2007. The supply of the real estate in 2003 is 207,575 units. So in 2000-2005, the real estate market is stay at up turn. Although the demand is going up but the research indicates that after 2006 the real estate market will be saturated because of the problem in the overall economic again due to the oil prize and the political aspects.
(Source: Government Housing Bank, 2006)
From the information we can see that the real estate in 2000’s decade was fluctuated and hardly to predict combined with the rarely system analysis of the overall office market in the past researches. In order to understand and predict the trend of the Real Estate and office market Economic, it is important to develop the factor and economic model of the real estate economic. The model is in the form of a computer simulation which employs the conceptual framework and methodology of “System Dynamics,” developed by Jay W. Forrester in the 1960’s at the Sloan School of management at the Massachusetts Institute of Technology. The model can be used as a forecasting tool in various assumption and factor such as, interest rate, political and macroeconomic.
Mr. Apinun Tantiviriyapan made a research which aim was to solve the problems. His objectives were as follows: (1) to identify the factors that affect the office market; (2) to identify the relationship between those factors and between factors to the office market economic and generate causal loop diagram; and (3) to develop the System Dynamic Model of the Office market Economic
Conclusions
The objective of this modeling exercise was firstly to understand the mechanism of various endogenous and exogenous parameters affecting the change of Gross Domestic Product, Demand of Office Building and Supply of Office Building. Gross Domestic Product, Demand of Office Building, Supply of Office Building, Inflation Rate, Interest Rate, Exchange Rate, Consumption Expenditure, Investment, Net Export, Cost of Material, Cost of Labor and Rental Prize are the primary focused variables within the economic boundary. Secondly, to identify the relationship between those factors and between factors to the office market economic and generate causal loop diagram. From the relation historical data was use to develop relative equation at each main component.
Change Gross Domestic Product is affected by Demand of Office Building, Supply of Office Building and Net Export. Demand of Office Building affects Gross Domestic Product in positive way same as Supply of Office Building and Net Export.
Change in Demand of Office Building is affected by Investment, Consumption Expenditure and Government Spending – Tax. Investment, Consumption Expenditure and Government Spending – Tax have positive relation to Change in Demand of Office Building.
Change in Supply of Office Building is affected by Cost of Labor, Cost of Material and Rental Prize. Rental Prize plays a positive relation to Change in Supply of Office Building but Cost of Labor and Cost of Material play a negative relation to Change in Supply of Office Building.
Economic Condition is measure in term of historical data index. This model structure is based on the literature reviews and the information gathered from the interview conducted with the different parties namely Office Development and Contractor Companies and Academic Institution.
Finally, a dynamic simulation mode was build to represent the perceived mode was built by using the system dynamic methodology. Simulation describes the current behavior and the inferred future. From the result of the simulation, we can develop the pattern of main components and conduct several test to ensure the result.
Several tests such as Unit Consistency Test, Boundary Test and Sensibility test was brought to develop the confidence of the result compare to the real world. The model was applied to the investigation for various components affecting office economic. The simulation trend will give guild line for the investors, developers and contractors to understand the behavior of Office Build Market. This guild line also help in decision making process to make better decision.
His thesis abstract is copied and posted.
ABSTRACT
To understand the office economic behavior, Demand, Supply and Gross Domestic Product are main components that should be defined the trend. There are a lot of factors and variables that affect the trend of main components. This research investigates the impact of various components on the Gross Domestic Produce, Demand of Office Building and Supply of Office Building
The objective of this modeling exercise was firstly to understand the mechanism of various endogenous and exogenous parameters affecting the change of Gross Domestic Product, Demand of Office Building and Supply of Office Building. Secondly, to identify the relationship between those factors and between factors to the office market economic and generate causal loop diagram. Finally, a dynamic simulation mode was build to represent the perceived mode was built by using the system dynamic methodology.
From the result of the simulation, we can develop the pattern of main components that can use as a guild line for the investors, developers and contractors to understand the behavior of Office Building Market. This guideline also helps in decision making process to make better decision.
From GDP graph the Bubble Economy can stay for a while. So in the early 1996 the problems of the economic happen, the GDP (Gross Domestic Product) of the country reduce 8.2% because of the principal’s enlargement. Institutional Investor Magazine, Standard & Poor's, Fitch And Moody's reduce the credit rank of Thailand from A to Ba1 that make untruth to the foreign investors. The foreign investors withdraw the capital from Thailand (call the loan back to their country) that effect to the Real Estate Economic. So in the late 1996, the foreign companies didn’t give any loan to Thailand that made the Financial Institution be illiquid. Finally, 1997 the Bubble Economy was broken and the real estate market was dead end. Thailand came to the economic crisis and the economic went to down turn.
(Source: Institutional Investor Magazine, Standard & Poor's, Fitch And Moody's, 1997)
In 2000 the government tried to recover the economic by using the public finance strategy to stimulate the economic. The strategy effect on the interest rate of the loan because the government wanted to reduce the interest to activate the economic and reduce the debt responsibility of the government. The interest rate reduce from 15.25 - 15.50% to 11.50 - 12.00% in the end of 1999 and 8.25 - 8.50% and 8.00 - 8.50% in March 2000. Because of the low interest rate of loan the investors tried to invest in the economic again and help the economic went up. When the economic went up the real estate economic was come to the up turn also. But the up turn didn’t take a long time.
In 2006, the Government Housing bank does the research “The model to predict the trend of the real estate in Thailand”. That research indicate that the demand of the people who live in Thailand in any kind and prize of the real estate is 257,130 units in 2003 and has trend to increase to 294,966 in 2007. The supply of the real estate in 2003 is 207,575 units. So in 2000-2005, the real estate market is stay at up turn. Although the demand is going up but the research indicates that after 2006 the real estate market will be saturated because of the problem in the overall economic again due to the oil prize and the political aspects.
(Source: Government Housing Bank, 2006)
From the information we can see that the real estate in 2000’s decade was fluctuated and hardly to predict combined with the rarely system analysis of the overall office market in the past researches. In order to understand and predict the trend of the Real Estate and office market Economic, it is important to develop the factor and economic model of the real estate economic. The model is in the form of a computer simulation which employs the conceptual framework and methodology of “System Dynamics,” developed by Jay W. Forrester in the 1960’s at the Sloan School of management at the Massachusetts Institute of Technology. The model can be used as a forecasting tool in various assumption and factor such as, interest rate, political and macroeconomic.
Mr. Apinun Tantiviriyapan made a research which aim was to solve the problems. His objectives were as follows: (1) to identify the factors that affect the office market; (2) to identify the relationship between those factors and between factors to the office market economic and generate causal loop diagram; and (3) to develop the System Dynamic Model of the Office market Economic
Conclusions
The objective of this modeling exercise was firstly to understand the mechanism of various endogenous and exogenous parameters affecting the change of Gross Domestic Product, Demand of Office Building and Supply of Office Building. Gross Domestic Product, Demand of Office Building, Supply of Office Building, Inflation Rate, Interest Rate, Exchange Rate, Consumption Expenditure, Investment, Net Export, Cost of Material, Cost of Labor and Rental Prize are the primary focused variables within the economic boundary. Secondly, to identify the relationship between those factors and between factors to the office market economic and generate causal loop diagram. From the relation historical data was use to develop relative equation at each main component.
Change Gross Domestic Product is affected by Demand of Office Building, Supply of Office Building and Net Export. Demand of Office Building affects Gross Domestic Product in positive way same as Supply of Office Building and Net Export.
Change in Demand of Office Building is affected by Investment, Consumption Expenditure and Government Spending – Tax. Investment, Consumption Expenditure and Government Spending – Tax have positive relation to Change in Demand of Office Building.
Change in Supply of Office Building is affected by Cost of Labor, Cost of Material and Rental Prize. Rental Prize plays a positive relation to Change in Supply of Office Building but Cost of Labor and Cost of Material play a negative relation to Change in Supply of Office Building.
Economic Condition is measure in term of historical data index. This model structure is based on the literature reviews and the information gathered from the interview conducted with the different parties namely Office Development and Contractor Companies and Academic Institution.
Finally, a dynamic simulation mode was build to represent the perceived mode was built by using the system dynamic methodology. Simulation describes the current behavior and the inferred future. From the result of the simulation, we can develop the pattern of main components and conduct several test to ensure the result.
Several tests such as Unit Consistency Test, Boundary Test and Sensibility test was brought to develop the confidence of the result compare to the real world. The model was applied to the investigation for various components affecting office economic. The simulation trend will give guild line for the investors, developers and contractors to understand the behavior of Office Build Market. This guild line also help in decision making process to make better decision.
His thesis abstract is copied and posted.
ABSTRACT
To understand the office economic behavior, Demand, Supply and Gross Domestic Product are main components that should be defined the trend. There are a lot of factors and variables that affect the trend of main components. This research investigates the impact of various components on the Gross Domestic Produce, Demand of Office Building and Supply of Office Building
The objective of this modeling exercise was firstly to understand the mechanism of various endogenous and exogenous parameters affecting the change of Gross Domestic Product, Demand of Office Building and Supply of Office Building. Secondly, to identify the relationship between those factors and between factors to the office market economic and generate causal loop diagram. Finally, a dynamic simulation mode was build to represent the perceived mode was built by using the system dynamic methodology.
From the result of the simulation, we can develop the pattern of main components that can use as a guild line for the investors, developers and contractors to understand the behavior of Office Building Market. This guideline also helps in decision making process to make better decision.
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