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Description
The construction industry in India suffers from major time and cost overruns. Data from government and industry reports suggest that projects suffer from 20 to 25 percent time and cost overruns. Waste of resources has been identified as a major source of inefficiency. Despite a substantial increase in the past few years, demand for professionals and contractors still exceeds supply by a large margin. The traditional methods adopted in the Indian construction industry may not suffice the needs of this dynamic environment, as they have produced large inefficiencies. Innovative ways of procurement and project management can satisfy the needs aspired to as well as bring added value. The problems faced by the Indian construction industry are very similar to those faced by other developing countries. The objective of this paper is to discuss and analyze the economic concerns, inefficiencies and investigate a model that both explains the Indian construction industry structure and provides a framework to improve efficiencies. The Best Value (BV) model is examined as an approach to be adopted in lieu of the traditional approach. This could result in efficient construction projects by minimizing cost overruns and delays, which until now have been a rarity.
ContributorsNihas, Syed (Author) / Kashiwagi, Dean (Thesis advisor) / Sullivan, Kenneth (Committee member) / Kashiwagi, Jacob (Committee member) / Arizona State University (Publisher)
Created2013
Description
The Performance Based Studies Research Group (PBSRG) has developed industry-tested leadership and management techniques that have been proven to increase organizational performance. The Leadership Society of Arizona (LSA) has worked closely with PBSRG to develop an educational framework that introduces these leadership concepts to college students. LSA is now endeavoring to make this curriculum more accessible for K-12 students and educators. As part of a thesis creative project, the author has developed a strategy to connect with and enable local high schools, teachers, and students to engage with the professional industry and higher education. This strategy will allow LSA to connect with up to 150 high school students over the summer of 2016. By making this education easily accessible, the author has accomplished a milestone in the larger effort encompassed by LSA. The course chosen to present to high school students is an abridged variation of the Barrett Honors College course "Deductive Logic: Leadership and Management Techniques". The class framework is designed to instantiate a self-sustaining program for future summer school courses. The summer school course will allow high school students to learn, understand, and apply college level concepts into their education, work, and personal lives. The development of the framework for the program encompasses networking/partnering efforts, marketing package creation, and the delivery of the summer school course over the months of June and July in 2016.
ContributorsDunn, Melissa Anne (Author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Industrial, Systems (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
For this thesis, the authors would like to create a hypothetical Private Equity Real Estate Investment firm that focuses on creating value for partners by taking an opportunistic approach to acquiring under-performing urban multi-family properties with large upside potential for investing. The project will focus on both the market analysis and financial modeling associated with investment strategy and transactions. There is a substantial amount of complexity within commercial real estate and this thesis seeks to offer an accurate and comprehensive documentary of the process, while simplifying it for everyday readers. Additionally, there are a significant amount of risk factors associated with investment decisions, so the best practices from the industry documented in this manuscript are valuable tools for successful investing in the future. To gain the most profound and reliable industry knowledge, the authors leveraged the experience of dozens of industry professionals through research and personal interviews. Through careful analysis, the authors were able to ascertain the current economic position in the real estate cycle and to create a plan for future investing. Additionally, they were able to identify and evaluate a specific asset for purchase. As a result, the authors found that multifamily properties are a sound investment for the next two years and that the company should slowly start to shift directions to office and retail in 2018.
ContributorsBacon, David (Co-author) / Soto, Justin (Co-author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Department of Finance (Contributor) / Department of Supply Chain Management (Contributor) / Department of Marketing (Contributor) / W. P. Carey School of Business (Contributor) / School of Accountancy (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
The current model of revenue generation for some free to play video games is preventing the companies controlling them from growing, but with a few changes in approach these issues could be alleviated. A new style of video games, called a MOBA (Massive Online Battle Arena) has emerged in the past few years bringing with it a new style of generating wealth. Contrary to past gaming models, where users must either purchase the game outright, view advertisements, or purchase items to gain a competitive advantage, MOBAs require no payment of any kind. These are free to play computer games that provides users with all the tools necessary to compete with anyone free of charge; no advantages can be purchased in this game. This leaves the only way for users to provide money to the company through optional purchases of purely aesthetic items, only to be purchased if the buyer wishes to see their character in a different set of attire. The genre’s best in show—called League of Legends, or LOL—has spearheaded this method of revenue-generation. Fortunately for LOL, its level of popularity has reached levels never seen in video games: the world championships had more viewers than game 7 of the NBA Finals (Dorsey). The player base alone is enough to keep the company afloat currently, but the fact that they only convert 3.75% of the players into revenue is alarming. Each player brings the company an average of $1.32, or 30% of what some other free to play games earn per user (Comparing MMO). It is this low per player income that has caused Riot Games, the developer of LOL, to state that their e-sports division is not currently profitable. To resolve this issue, LOL must take on a more aggressive marketing plan. Advertisements for the NBA Finals cost $460,000 for 30 seconds, and LOL should aim for ads in this range (Lombardo). With an average of 3 million people logged on at any time, 90% of the players being male and 85% being between the ages of 16 and 30, advertising via this game would appeal to many companies, making a deal easy to strike (LOL infographic 2012). The idea also appeals to players: 81% of players surveyed said that an advertisement on the client that allows for the option to place an order would improve or not impact their experience. Moving forward with this, the gaming client would be updated to contain both an option to order pizza and an advertisement for Mountain Dew. This type of advertising was determined based on community responses through a sequence of survey questions. These small adjustments to the game would allow LOL to generate enough income for Riot Games to expand into other areas of the e-sports industry.
ContributorsSeip, Patrick (Co-author) / Zhao, BoNing (Co-author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Barrett, The Honors College (Contributor) / Sandra Day O'Connor College of Law (Contributor) / Department of Economics (Contributor) / Department of Supply Chain Management (Contributor)
Created2015-05
Description
Dr. Dean Kashiwagi created a new thinking paradigm, Information Measurement Theory (IMT), which utilizes the understanding of natural laws to help individuals minimize decision-making and risk, which leads to reduced stress. In this new paradigm, any given situation can only have one unique outcome. The more information an individual has for the given situation, the better they can predict the outcome. Using IMT can help correctly "predict the future" of any situation if given enough of the correct information. A prime example of using IMT would be: to correctly predict what a young woman will be like when she's older, simply look at the young woman's mother. In essence, if you can't fall in love with the mother, don't marry the young woman. The researchers are utilizing the concept of IMT and extrapolating it to the financial investing world. They researched different financial investing strategies and were able to come to the conclusion that a strategy utilizing IMT would yield the highest results for investors while minimizing stress. Investors using deductive logic to invest received, on average, 1300% more returns than investors who did not over a 25-year period. Where other investors made many decisions and were constantly stressed with the tribulations of the market, the investors utilizing IMT made one decision and made much more than other investors. The research confirms the stock market will continue to increase over time by looking at the history of the stock market from a birds-eye view. Throughout the existence of the stock market, there have been highs and lows, but at the end of the day, the market continues to break through new ceilings. Investing in the stock market can be a dark and scary place for the blind investor. Using the concept of IMT can eliminate that blindfold to reduce stress on investors while earning the highest financial return potential. Using the basis of IMT, the researchers predict the market will continue to increase in the future; in conclusion, the best investment strategy is to invest in blue chip stocks that have a history of past success, in order to capture secure growth with minimal risk and stress.
ContributorsBerns, Ryan (Co-author) / Ybanez, Julian (Co-author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Barrett, The Honors College (Contributor) / Department of Finance (Contributor) / Department of Marketing (Contributor) / W. P. Carey School of Business (Contributor)
Created2015-05
Description
ABSTRACT
The problem of litigation and disputes in the construction sector is a major impediment to countries’ development goals. The purpose of this paper is to investigate the problem of high legal costs and long delays that arise due to litigation involving project owners, designers, contractors and other construction parties worldwide and in Saudi Arabia, as well as to give recommendation according to the outcomes of this research. The causes of litigious behavior in Saudi Arabia and other countries around the world were identified and documented, also the differences in litigation of the Saudi Arabian construction industry as compared to other countries were identified. Preliminary investigations revealed that there are some level of similarity in the nature of the causes. Thus, these causes were grouped into three main categories which are expectation factors, communications factors and documentation factors. Further research based on existing literature showed that the practices used to minimize litigation in the construction industry were investigated. The following delivery process were researched: design-build (DB) delivery method, Alliance Contracting, Construction Manager at Risk (CMAR), Best Value Approach, Integrated Project Delivery (IPD), and Public-Private Partnerships (PPPs), and the PIPS/PIRMS approach. These delivery methods were found to have issues, which means the methods by observation do not seem to be the ideal solution to minimize litigation in the construction industry. The only delivery method found to have no litigation issues was the PIPS/PIRMS approach.
The problem of litigation and disputes in the construction sector is a major impediment to countries’ development goals. The purpose of this paper is to investigate the problem of high legal costs and long delays that arise due to litigation involving project owners, designers, contractors and other construction parties worldwide and in Saudi Arabia, as well as to give recommendation according to the outcomes of this research. The causes of litigious behavior in Saudi Arabia and other countries around the world were identified and documented, also the differences in litigation of the Saudi Arabian construction industry as compared to other countries were identified. Preliminary investigations revealed that there are some level of similarity in the nature of the causes. Thus, these causes were grouped into three main categories which are expectation factors, communications factors and documentation factors. Further research based on existing literature showed that the practices used to minimize litigation in the construction industry were investigated. The following delivery process were researched: design-build (DB) delivery method, Alliance Contracting, Construction Manager at Risk (CMAR), Best Value Approach, Integrated Project Delivery (IPD), and Public-Private Partnerships (PPPs), and the PIPS/PIRMS approach. These delivery methods were found to have issues, which means the methods by observation do not seem to be the ideal solution to minimize litigation in the construction industry. The only delivery method found to have no litigation issues was the PIPS/PIRMS approach.
ContributorsAlmutairi, Saud (Author) / Kashiwagi, Dean (Thesis advisor) / Sullivan, Kenneth (Committee member) / Kashiwagi, Jacob (Committee member) / Arizona State University (Publisher)
Created2015
Description
Delays are a major cause for concern in the construction industry both globally and locally in Saudi Arabia. This paper identifies the main causes of delay in infrastructure projects in the holy city of Makkah (Saudi Arabia) and compares these with projects around the rest of the country and other Gulf countries as well. Data were obtained from 49 infrastructure projects that were undertaken by the owner and were analyzed quantitatively to understand the severity and causes of delay. 10 risk factors were identified in this study and these factors were grouped into four categories. The average delay in infrastructure projects in the city of Makkah was found to be 39%. The most severe cause of delay was found to be the land acquisition factor. This highlights the critical land ownership and acquisition issues that is prevailing in Makkah. In addition to this, other factors include contractors’ lack of expertise, haphazard underground utilities (line services), and re-designing. It is concluded that majority of delays were caused from the owner’s side as compared to contractors, consultants, and other project’s stakeholders. This finding was in line with the research findings of the Gulf Countries Construction (GCC) Industry’s literature as well. This study will fill an important practice and research gap for improving the efficiency in project delivery for infrastructure projects in the holy city of Makkah and the Gulf countries at large.
ContributorsElawi, Ghazi Saad A (Author) / Kashiwagi, Dean (Thesis advisor) / Sullivan, Kenneth (Committee member) / Kashiwagi, Jacob (Committee member) / Arizona State University (Publisher)
Created2015
Description
Saudi Arabia has been facing issues with completing construction projects on time and on budget. It has been documented that 70% of public construction projects are delayed. Studies have identified the low-bid delivery method as an important factor in causing such delays. The procurement system (low-bid) ignores contractors’ performance, and that is reflected in projects’ performance. A case study was performed, at a University campus in northern Saudi Arabia, identifying the major causes of project delays and cost overruns. The University was experiencing delays from 50% to 150%. Also, the actual project costs for four projects were examined and found that all four projects’ costs were higher than the original bid. The delay and cost overruns factors were gathered from the University engineers. A literature research identified one construction management method, best value performance information procurement system (BV PIPS), has documented multiple times its ability to improve project performance. In a comparison using the result of a case study and the results of (BV PIPS), Saudi Arabia’s delivery system was identified as a potential cause of project performance issues. The current procurement system was analyzed and modified to adapt with the (BV PIPS). The proposed procurement system using BV PIPS, which can be implemented in Saudi Arabia, was created with owner side. A large survey was conducted of 761 classified contractors and 43 universities’ representatives who rated causes of delay factors and cost overruns. The delay factors were then compared to delay factors experienced on Saudi construction projects, identified by performing a literature research. The comparison identified 14 important causes of delays. Moreover, the survey showed that classified contractors and universities’ representatives unsatisfied with low-bid, and they agreed with BV PIPS which selecting vendors based on performance with price. The proposed model required a submitted level of experience (LE), risk assessment (RA), and value added (VA). Besides, project managers of vendors should be interviewed during the clarification phase. In addition, venders should submit the project’s scope, technical schedule, milestone schedule, and risk management plan. In the execution phase, vendors should submit a weekly risk report (WRR) and director’s report (DR).
ContributorsAlzara, Majed (Author) / Kashiwagi, Dean (Thesis advisor) / Kashiwagi, Jacob (Committee member) / Al-Tassan, Abdulrahman (Committee member) / Arizona State University (Publisher)
Created2016
Description
Since 1994, the Performance Based Studies Research Group at Arizona State University has utilized an approach to industry called Best Value (BV). Since its origin, this approach has been used in 1860 tests creating $6.4 billion dollars of projects and services delivered, at a customer satisfaction rating of 95%. Best Value (BV) is rooted in simplicity, and seeks to help organizations hire experts, plan ahead, minimize risk, optimize resources, and optimize resources. This is accomplished largely through the use of a tool the PBSRG calls the Kashiwagi Solution Model (KSM). Kashiwagi Solution Models can be used across every industry from construction to Wall Street to help achieve sustainable success in what is perhaps the most efficient and effective manner available today. Using Best Value (BV) and the Kashiwagi Solution Model (KSM), the author identified groups on Wall Street and throughout the world who deal in a unique entity called "Over-The-Counter (OTC) Derivatives". More specifically, this paper focuses on the current status and ramifications of derivative contracts that two parties enter with the sole intention of speculating. KSMs are used in Information Measurement Theory, which seeks to take seemingly complex subjects and simplify them into terms that everyone can understand. This document uses Information Measurement Theory to explain what OTC derivatives are in the simplest possible way, so that little prior knowledge of finance is required to understand the material. Through research and observation, KSMs can be used to identify the characteristics of groups who deal in OTC derivatives, which contributed to the financial crisis in 2008 and have grown in size and complexity. This document uses dominant information in order to see the potential problems within the OTC derivatives market from 30,000 feet, and offer solutions to those problems. Keywords: simplicity, best value approach, identify characteristics, dominant information
ContributorsBills, Andrew Marius (Author) / Kashiwagi, Dean (Thesis director) / Kashiwagi, Jacob (Committee member) / Rivera, Alfredo (Committee member) / Department of Finance (Contributor) / W. P. Carey School of Business (Contributor) / Barrett, The Honors College (Contributor)
Created2016-05
Description
The overall purpose of this investigation is to examine the differences between the Best Value Approach and Best Value Procurement, and to test if the Best Value Approach can be used for the successful delivery of roofing systems. Best Value Procurement has been run on delivering roofing services for many years. However, in the last three years, it was discovered that Best Value Procurement was not sustainable and filled with risk. To examine if the Best Value Approach can be used for the successful delivery of roofing systems, the researcher identified a client in need of a new 70,000 sq. ft. industrial roof installation at their facility in the Phoenix Metropolitan area. The client willingly agreed to test the Best Value Approach as the project delivery method. The results of the project were documented, and they show that the Best Value Approach can be successfully implemented on an industrial roofing project with high performance results. The Best Value Approach’s advantage over Best Value Procurement is it addresses risk using “level of expertise” and cost to select a vendor. This paper identifies the differences between the methodologies and shows how the Best Value Approach can be an optimal approach for other roofing projects.
ContributorsBills, Andrew Marius (Author) / Sullivan, Ken (Thesis advisor) / Badger, William (Thesis advisor) / Kashiwagi, Jacob (Committee member) / Arizona State University (Publisher)
Created2017