No abstract

The construction industry is one of the largest and most diverse of the sectors with continuous development. The momentum and impact of the industry's development is highly influenced by a complex system of different elements including innovation. However, the sector is relatively weak at all stages of the innovation process and the strength of collaboration among government, industry and academia is insufficient. It is generally accepted that construction companies invest less in new knowledge and process development as well as engage significantly less in innovation related activities than firms in other sectors. Hence, it is very important to control and manage the significant factors that affect success in innovation taking into account the complexity and the inherent dynamics of the construction innovation diffusion. By doing so, this study addresses the decision making process within the complex innovation process in the construction industry by employing a step-by-step modelling process consisting of a multi-stages analysis, stakeholder-based and modelling approaches. Construction is closely connected to the national social structure and is highly influenced by various institutional actors and interactions among components and, consequently, can be presented as a sectoral system. Hence, the overarching objective of the paper is to introduce a systems approach aiming to conceptualise and formulate an initial simulation model of a complex construction innovation system representing correct and continuous interactions between government, the construction industry and academia. Moreover, the research underpins future development of scenariogenerating modelling in order to reveal potential pathways to rational decision-making along with potential policy recommendations and various innovation planning strategies that improve construction innovation performance in the Russian Federation.

With the advent of smart metering in recent years where water and energy consumption data could be recorded at high resolution, several studies have been undertaken all over the world to unpack various benefits for both consumers and suppliers. Separate analysis and modelling of water or energy data has shown valuable state-of-the-art applications to inform single and multi-utilities and regulatory agencies. This paper suggests a new concept where high resolution multi-utility data is concurrently collected and modelled to allow for enhanced pattern recognition of other resources (e.g. having electricity data assists pattern recognition of water), deeper insight into customer demand and optimal opportunities to manage it. Through using a smart device to capture concurrent water and energy consumption in near real-time, and exploring the correlation between these two consumption activities, the proposed system has helped avoid the need of using Hidden Markov Model and Dynamic Time Warping algorithms in several analysis stages, thus allowed the classification process to be undertaken much faster with higher achieved accuracy. Once finished, the system will result in a wide range of benefits for utilities and regulatory agencies, especially allowing them to have a unique single platform to monitor all water and energy consumption of any particular household or region in near real-time to immediately identify faulty issue with the power system or pipe leakage if it happens. For customer, they will also be immediately alerted when there is any single problem occurring to any water or energy device, or be informed about the current efficiency status of water and power appliance in the house, as well as receiving various incentives when they follow instruction to improve the current supply network.

Housing affordability subsidies to low and middle income households consistently represent an approximate annual expenditure in excess of $1.9 billion AUD to the Australian taxpayer. The National Rental Affordability Scheme (NRAS) is being phased out, presenting an opportunity to innovate for polices which are targeted to the amelioration of 'housing stress' for low-middle income households. Escalating energy and water expenses are increasing net housing costs for average Australian households at a rate in excess of the consumer price index. By metrics of 'housing stress'low and middle income households are most affected. Whilst escalating utility rates apply increasing pressure on households bottom line, conversely, investments made in operational efficiency improvements early in a buildings lifecycle improve the overall net present value proposition when looking at ongoing government housing affordability subsidies as a system. Developers and landlords have been reluctant to invest in 'Green building' principles for low-middle income rental developments due to a lack of incentive. In an era of globally compressing bond yields, the emergence alternate 'low-carbon' funding sources (ie. Green Bonds) present an opportunity to channel a burgeoning 'Socially Responsible Investment' (SRI) portfolio from institutional investors towards the affordable housing problem, whilst promoting a national effort towards a 'green economy' and carbon-reduction commitments made under the UN Framework Convention(s) on Climate Change. This opportunity is particularly relevant when backed by government. The success of the adoption of NRAS by the private (and later) institutional sector has demonstrated that there is a strong appetite for long term (10 year fixed income) government backed policies offering a reliable (and arguably generous) return on investment for those dwellings accepted into the NRAS pool. Data has been analysed for an average Brisbane apartment building, suitable to low-middle income households. At current utility escalation rates (not inclusive of connection fees), utility consumption costs borne by the tenant comprise approximately 8-15% (1 to 3-bedroom units respectively) of total housing costs over a 10 year period (2016-2026). An initial investment into green building principles (such as operationally efficient lighting, appliances) from the beginning of the period can reduce these costs by 1.7-3.8% respectively. The study found that these 'green' 'low carbon' improvements could be offset through the effective use of low interest debt-particularly via the issuance of a government backed 'Green Bond'. This paper shall expand upon this analysis, testing a variety of scenarios with systems dynamics. The complex interconnection between the variety of stakeholders involved in the delivery and management of social/affordable housing developments in Australia will be explored. These main stakeholders include Government (Federal, Local and State), Developers, Investors (private and institutional) and Tenants.