Cost–benefit analysis of construction waste source reduction: a system dynamics approach

Tu, Bocun; Pan, Min; Zuo, Jian; Chang, Ruidong; Webber, Ronald; Zou, Zhuojing; Dong, Na

doi:10.1007/s11356-022-22148-z

Cited by 14 publications

(6 citation statements)

References 84 publications

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“…Another method used in the literature to evaluate 'BIM's monetary impact is the CBA (Tu et al, 2023). The ROI measures the financial gain or loss relative to the investment cost and is solely focused on the financial return (Barlish and Sullivan, 2012).…”

Section: Quantification Of Building Information Modelling Investment ...mentioning

confidence: 99%

“…A number of benefits have been found to result from the use of BIM in the analysed literature, including improved productivity (Poirier et al, 2015), reduced construction costs (Yu et al, 2022) and enhanced collaboration, all of which can contribute to a higher ROI (Chen et al, 2022). The CBA involves calculating costs associated with the implementation of BIM, such as the cost of hardware and software, training and maintenance (Tu et al, 2023). The result of the CBA is usually reported as a final value of the difference between the summation of costs deducted from the summation of benefits, such as the results of the study by Khanzode et al (2008), which applied CBA to examine the value of BIM for a health-care project.…”

Section: Quantification Of Building Information Modelling Investment ...mentioning

confidence: 99%

“…However, with the use of BIM, the number of RFIs can be greatly reduced (Toan et al, 2022;Zakeri et al, 2023). To prevent errors and omissions that would typically result in RFIs during construction, BIM allows construction professionals to collaborate and identify potential issues before construction begins (Tu et al, 2023). BIM can also reduce the time required to respond to RFIs by providing a centralized platform for information sharing.…”

Section: Requests For Informationmentioning

confidence: 99%

“…There is a wide range of numerical values reported in these cases; therefore, these results question the reliability of BIM applications and lead to a negative perception of them (S anchez et al, 2022). Another limitation of previous BIM investment evaluation studies is that it is difficult to propose a comprehensive BIM assessment methodology that considers all possible effects (Barlish and Sullivan, 2012;Tu et al, 2023). In construction projects, BIM creates a variety of effects, and an integrated BIM evaluation should take all possible effects into consideration (Zakeri et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

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Quantifying BIM investment value: a systematic review

Gharaibeh,

Eriksson,

Lantz

2024

JEDT

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Purpose Perceived benefits of building information modelling (BIM) have been discussed for some time, but cost–benefit benchmarking has been inconsistent. The purpose of this paper is to investigate BIM feasibility and evaluate investment worth to elucidate and develop the current understanding of BIM merit. The aim of the study is to propose a research agenda towards a more holistic perspective of BIM use incorporating quantifying investment return. Design/methodology/approach An in-depth examination of research patterns has been conducted to identify challenges in the assessment of the investment value and return on investment (ROI) for BIM in the construction industry. A total of 75 research articles were considered for the final literature review. An evaluation of the literature is conducted using a combination of bibliometric analysis and systematic reviews. Findings This study, which analysed 75 articles, unveils key findings in quantifying BIM benefits, primarily through ROI calculation. Two major research gaps are identified: the absence of a standardized BIM ROI method and insufficient exploration of intangible benefits. Research focus varies across phases, emphasizing design and construction integration and exploring post-construction phases. The study categorizes quantifiable factors, including productivity, changes and rework reduction, requests for information reduction, schedule efficiency, safety, environmental sustainability and operations and facility management. These findings offer vital insights for researchers and practitioners, enhancing understanding of ’BIM’s financial benefits and signalling areas for further exploration in construction. Originality/value The ’study’s outcomes offer the latest insights for researchers and practitioners to create effective approaches for quantifying ’BIM’s financial benefits. Additionally, the proposed research agenda aims to improve the current limited understanding of BIM feasibility and investment worth evaluation. Results of the study could assist practitioners in overcoming limitations associated with BIM investment and economic evaluations in the construction industry.

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Section: Quantification Of Building Information Modelling Investment ...mentioning

confidence: 99%

Section: Quantification Of Building Information Modelling Investment ...mentioning

confidence: 99%

Section: Requests For Informationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Quantifying BIM investment value: a systematic review

Gharaibeh,

Eriksson,

Lantz

2024

JEDT

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“…Sensitivity analysis plays a critical role in validating the model, as it focuses primarily on examining how sensitive the state or output variables of an analytical system model are to changes in system parameters or surrounding conditions. 31 Taking the consumption factor as an example, the adjustment of the proportion of industrial gas is utilized in this demonstration, as shown in Figure 5. Notably, altering a single parameter does not…”

Section: The Sensitivity Of the Modelmentioning

confidence: 99%

A system dynamic model for natural gas safety supply and demand balance mechanism

Hong,

Sha,

Qian

2023

Energy Science & Engineering

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The security of natural gas supply and demand has always been an important topic, and as a result, analyzing and predicting the supply and demand of natural gas has received considerable attention from researchers. Numerous studies have extensively researched the supply and demand of natural gas. The main purpose of this study is to explore the supply‐demand balance mechanism for natural gas security. A system dynamics model is constructed to assess the supply and demand of natural gas in Sichuan Province, China. A new system dynamics model based on domestic gas, production gas, ecological environment and natural gas supply is proposed. The study considers four scenarios: natural development, economic priority development, environmental priority development and coordinated development. The results show that the rapid economic development has led to an excessive environmental carrying capacity, a larger gap between natural gas supply and demand, a decline in the quality of life of residents, and even affected the energy security of Sichuan Province and China. The findings also show that people's overprotection of the environment can lead to slow economic development, which prevents it from achieving its desired goals. The coordinated development scenario in this paper not only ensures the production of natural gas and the quality of life of residents, but also is an optimal scheme with low energy consumption and pollution. According to the research conclusions, considering the overall situation of China's energy security and the situation in Sichuan Province, the author proposes reforms from the supply and demand sides of natural gas.

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Boon and burden: economic performance and future perspectives of the Venice flood protection system

Giupponi,

Bidoia,

Breil

et al. 2024

Reg Environ Change

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Sea-level rise (SLR) and flooding are among the climate change stressors challenging human society in the twenty-first century. Many coastal areas and cities are implementing innovative solutions to mitigate flood risks and enhance resilience. Venice has recently developed a system of storm surge mobile barriers, known as the MoSE (Modulo Sperimentale Elettromeccanico or Experimental Electromechanical Module). This study aims to investigate the economic viability of MoSE operations in light of the potential future evolution of SLR. To conduct a cost-benefit analysis, a system dynamics model is utilised to assess the impact of MoSE operations on economic and residential activities of Venice and its port. Simulations are conducted until the end of the century, considering two SLR scenarios. The results suggest that the economic benefits largely outweigh the combined costs of investment and foregone port revenues resulting from the MoSE closures. Nevertheless, the increasing number of closures due to SLR seriously challenges the viability of the infrastructure in the medium to long term. Even more importantly, very frequent closures will have serious impacts on the quality of the lagoon ecosystem. These findings suggest a revision and stronger integration of the city’s safeguarding strategies, including the increase of the MoSE closure level officially set at 110 cm, and other coordinated interventions, such as sewer system consolidation.

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Cost–benefit analysis of construction waste source reduction: a system dynamics approach

Cited by 14 publications

References 84 publications

Quantifying BIM investment value: a systematic review

Quantifying BIM investment value: a systematic review

A system dynamic model for natural gas safety supply and demand balance mechanism

Boon and burden: economic performance and future perspectives of the Venice flood protection system

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