Five Things You Should Know About Cost Overrun
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Words That Work: It's Not What You Say, It's What People Hear
ï . •,";,£ CASL M T. ^oÛNTAE À SUL'S, REVITA 1ENT, HASSLE- NT_ MAIN STR " \CCOUNTA ;, INNOVAT MLUE, CASL : REVITA JOVATh IE, CASL )UNTAE CO M M XIMEN1 VlTA • Ml ^re aW c^Pti ( °rds *cc Po 0 ^rof°>lish lu*t* >nk Lan <^l^ gua a ul Vic r ntz °ko Ono." - Somehow, W( c< Words are enorm i Jheer pleasure of CJ ftj* * - ! love laag^ liant about Words." gM °rder- Franl< Luntz * bril- 'Frank Luntz understands the power of words to move public Opinion and communicate big ideas. Any Democrat who writes off his analysis and decades of experience just because he works for the other side is making a big mistake. His les sons don't have a party label. The only question is, where s our Frank Luntz^^^^^^^™ îy are some people so much better than others at talking their way into a job or nit of trouble? What makes some advertising jingles cut through the clutter of our crowded memories? What's behind winning campaign slogans and career-ending political blunders? Why do some speeches resonate and endure while others are forgotten moments after they are given? The answers lie in the way words are used to influence and motivate, the way they connect thought and emotion. And no person knows more about the intersection of words and deeds than language architect and public-opinion guru Dr. Frank Luntz. In Words That Work, Dr. Luntz not only raises the curtain on the craft of effective language, but also offers priceless insight on how to find and use the right words to get what you want out of life. -
An Assessment of the Causes of Schedule and Cost Overruns in South African Megaprojects: a Case of the Critical Gov.Za> Energy Sector Projects of Medupi and Kusile
Review articles • Oorsigartikels Fhumulani Tshidavhu Ms Fhumulani Tshidavhu, Old Mutual Building, 78 Hans Van Rensburg Street, Polokwane, 0699, Limpopo, Published by the UFS RSA National Department of Public http://journals.ufs.ac.za/index.php/as Works, Polokwane, South Africa. Phone: 071 679 8604, © Creative Commons With Attribution (CC-BY) e-mail: <Fhumulani.Tshidavhu@dpw. How to cite: Tshidavhu, F. & Khatleli, N. 2020. An assessment of the causes of schedule and cost overruns in South African megaprojects: A case of the critical gov.za> energy sector projects of Medupi and Kusile. Acta Structilia, 26(2), pp. 119-143. Nthatisi Khatleli AN ASSESSMENT OF THE CAUSES Dr Nthatisi Khatleli, senior lecturer, School of Construction Economics OF SCHEDULE AND COST and Management, University of OVERRUNS IN SOUTH AFRICAN the Witwatersrand, Johannesburg, South Africa. MEGAPROJECTS: A CASE Phone: 011 7177651, e-mail: <[email protected]> OF THE CRITICAL ENERGY DOI: http://dx.doi. SECTOR PROJECTS OF org/10.18820/24150487/as27i1.5 MEDUPI AND KUSILE ISSN: 1023-0564 e-ISSN: 2415-0487 Peer reviewed and revised March 2020 Acta Structilia 2020 27(1): 119-143 Published June 2020 *The authors declared no conflict of interest for the article or title ABSTRACT Cost and schedule overruns are the most common challenges in mega construction projects around the globe, and South Africa is no different. Although comparatively small in number, megaprojects have an inordinate number of projects failing, due to budget overflow and schedule slippage. This article assessed the causes of cost and schedule overruns as well as the challenges with the implementation of critical construction megaprojects, using Kusile and Medupi energy-sector megaprojects in South Africa. -
Fake News Detection in Social Media
Fake news detection in social media Kasseropoulos Dimitrios-Panagiotis SID: 3308190011 SCHOOL OF SCIENCE & TECHNOLOGY A thesis submitted for the degree of Master of Science (MSc) in Data Science JANUARY, 2021 THESSALONIKI - GREECE i Fake news detection in social media Kasseropoulos Dimitrios-Panagiotis SID: 3308190011 Supervisor: Assoc. Prof. Christos Tjortjis Supervising Committee Members: Prof. Panagiotis Bozanis Dr. Leonidas Akritidis SCHOOL OF SCIENCE & TECHNOLOGY A thesis submitted for the degree of Master of Science (MSc) in Data Science JANUARY, 2021 THESSALONIKI - GREECE ii Abstract This dissertation was written as a part of the MSc in Data Science at the International Hellenic University. The easy propagation and access to information in the web has the potential to become a serious issue when it comes to disinformation. The term “fake news” is describing the intentional propagation of fake news with the intent to mislead and harm the public, and has gained more attention since the U.S elections of 2016. Recent studies have used machine learning techniques to tackle it. This thesis reviews the style-based machine learning approach which relies on the textual information of news, such as the manually extraction of lexical features from the text (e.g. part of speech counts), and testing the performance of both classic and non-classic (artificial neural networks) algorithms. We have managed to find a subset of best performing linguistic features, using information-based metrics, which also tend to agree with the already existing literature. Also, we combined the Name Entity Recognition (NER) functionality of spacy’s library with the FP Growth algorithm to gain a deeper perspective of the name entities used in the two classes. -
78 Risk Assessment of Time and Cost Overrun Factors Throughout
Risk Assessment of Time and Cost Overrun Factors throughout Construction Project Lifecycle Prof. Mostafa Hasan Kotb1, Prof. Amin Saleh Aly2 and Eng. Khaled Muhammad Ali Muhammad3 1Professor, Structural Engineering Department, Faculty of Engineering, Al-Azhar University, Cairo, Egypt 2Professor, Structural Engineering Department, Faculty of Engineering, Ain Shams University, Cairo, Egypt 3PhD Student,, Structural Engineering Department, Faculty of Engineering, Al-Azhar University, Cairo, Egypt [email protected] Abstract: The construction industry has a reputation for delivering projects over budget. This research identifies actual project examples illustrating the problem of cost overruns. Results of a questionnaire survey present perceptions of the main reasons why building construction projects sometimes exceed the initial budget estimate. The paper reviews how the construction industry is responding to the challenge of accurate budgeting. In the domain of facility capital cost budgets and risk management, two key conclusions are made. Firstly, that complete design information leads to more accurate budget estimates. Secondly, that client driven design change is the greatest risk. Clients are the key drivers of change and they must therefore take a look at themselves before blaming the industry for being inefficient. [Mostafa Hasan Kotb, Amin Saleh Aly, and Khaled Muhammad Ali Muhammad. Risk Assessment of Time and Cost Overrun Factors throughout Construction Project Lifecycle. Life Sci J 2019;16(9):78-91]. ISSN: 1097- 8135 (Print) -
Simulation Modeling of Cost Overrun in Construction Project in Ethiopia Geletaw Taye
International Journal of Recent Technology and Engineering (IJRTE) ISSN: 2277-3878, Volume-8 Issue-4, November 2019 Simulation Modeling of Cost Overrun in Construction Project in Ethiopia Geletaw Taye Abstract: Cost is an essential part of any construction worldwide and it is more severe in developing countries. project. It was observed that cost overrun is one of the most Like many other developing countries, the construction frequently occurring issues in construction projects of Ethiopia and it is more severe in different parts of the country. The aim of industry in Ethiopia also affected by the cost overrun. Most this research has identified the factors that influence cost of the construction projects in Ethiopia are exposed to cost overruns of construction projects, quantified the percentage of overrun this leading to loss of projects profit, budget identified factors, established probability distribution of identified shortfall of project owners, falling the project to deliver on factors and develop simulation modeling of cost overrun. The study was conducted based on the desk study and questionnaire time, the company or firms exposed to bad debt or survey. Questionnaire surveys were analyzed by using Relative bankruptcy, and it also considered another a big problem, Important Index (RII) ranking and significance of data checked which hinders project's progress since it decreases the by using a t-test at a 95% confidence level. Based on the desk study of 19 projects, a simulation model of cost overrun was contractor profit leading to huge losses leaving the project in developed by using the Monte Carlo simulation method. a big trouble. -
Combatting White Nationalism: Lessons from Marx by Andrew Kliman
Combatting White Nationalism: Lessons from Marx by Andrew Kliman October 2, 2017 version Abstract This essay seeks to draw lessons from Karl Marx’s writings and practice that can help combat Trumpism and other expressions of white nationalism. The foremost lesson is that fighting white nationalism in the tradition of Marx entails the perspective of solidarizing with the “white working class” by decisively defeating Trumpism and other far-right forces. Their defeat will help liberate the “white working class” from the grip of reaction and thereby spur the independent emancipatory self-development of working people as a whole. The anti-neoliberal “left” claims that Trump’s electoral victory was due to an uprising of the “white working class” against a rapacious neoliberalism that has caused its income to stagnate for decades. However, working-class income (measured reasonably) did not stagnate, nor is “economic distress” a source of Trump’s surprisingly strong support from “working-class” whites. And by looking back at the presidential campaigns of George Wallace between 1964 and 1972, it becomes clear that Trumpism is a manifestation of a long-standing white nationalist strain in US politics, not a response to neoliberalism or globalization. Marx differed from the anti-neoliberal “left” in that he sought to encourage the “independent movement of the workers” toward human emancipation, not further the political interests of “the left.” Their different responses to white nationalism are rooted in this general difference. Detailed analysis of Marx’s writings and activity around the US Civil War and the Irish independence struggle against England reveals that Marx stood for the defeat of the Confederacy, and the defeat of England, largely because he anticipated that these defeats would stimulate the independent emancipatory self-development of the working class. -
Online Media and the 2016 US Presidential Election
Partisanship, Propaganda, and Disinformation: Online Media and the 2016 U.S. Presidential Election The Harvard community has made this article openly available. Please share how this access benefits you. Your story matters Citation Faris, Robert M., Hal Roberts, Bruce Etling, Nikki Bourassa, Ethan Zuckerman, and Yochai Benkler. 2017. Partisanship, Propaganda, and Disinformation: Online Media and the 2016 U.S. Presidential Election. Berkman Klein Center for Internet & Society Research Paper. Citable link http://nrs.harvard.edu/urn-3:HUL.InstRepos:33759251 Terms of Use This article was downloaded from Harvard University’s DASH repository, and is made available under the terms and conditions applicable to Other Posted Material, as set forth at http:// nrs.harvard.edu/urn-3:HUL.InstRepos:dash.current.terms-of- use#LAA AUGUST 2017 PARTISANSHIP, Robert Faris Hal Roberts PROPAGANDA, & Bruce Etling Nikki Bourassa DISINFORMATION Ethan Zuckerman Yochai Benkler Online Media & the 2016 U.S. Presidential Election ACKNOWLEDGMENTS This paper is the result of months of effort and has only come to be as a result of the generous input of many people from the Berkman Klein Center and beyond. Jonas Kaiser and Paola Villarreal expanded our thinking around methods and interpretation. Brendan Roach provided excellent research assistance. Rebekah Heacock Jones helped get this research off the ground, and Justin Clark helped bring it home. We are grateful to Gretchen Weber, David Talbot, and Daniel Dennis Jones for their assistance in the production and publication of this study. This paper has also benefited from contributions of many outside the Berkman Klein community. The entire Media Cloud team at the Center for Civic Media at MIT’s Media Lab has been essential to this research. -
Putin's New Russia
PUTIN’S NEW RUSSIA Edited by Jon Hellevig and Alexandre Latsa With an Introduction by Peter Lavelle Contributors: Patrick Armstrong, Mark Chapman, Aleksandr Grishin, Jon Hellevig, Anatoly Karlin, Eric Kraus, Alexandre Latsa, Nils van der Vegte, Craig James Willy Publisher: Kontinent USA September, 2012 First edition published 2012 First edition published 2012 Copyright to Jon Hellevig and Alexander Latsa Publisher: Kontinent USA 1800 Connecticut Avenue, NW Washington, DC 20009 [email protected] www.us-russia.org/kontinent Cover by Alexandra Mozilova on motive of painting by Ilya Komov Printed at Printing house "Citius" ISBN 978-0-9883137-0-5 This is a book authored by independent minded Western observers who have real experience of how Russia has developed after the failed perestroika since Putin first became president in 2000. Common sense warning: The book you are about to read is dangerous. If you are from the English language media sphere, virtually everything you may think you know about contemporary Rus- sia; its political system, leaders, economy, population, so-called opposition, foreign policy and much more is either seriously flawed or just plain wrong. This has not happened by accident. This book explains why. This book is also about gross double standards, hypocrisy, and venal stupidity with western media playing the role of willing accomplice. After reading this interesting tome, you might reconsider everything you “learn” from mainstream media about Russia and the world. Contents PETER LAVELLE ............................................................................................1 -
Using Agile in Construction Projects: It’S More Than a Methodology
Using agile in construction projects: It’s more than a methodology Milind Padalkar Indian Institute of Management, Kozhikode, Kerala, India Saji Gopinath Bennett University, NOIDA, UP, India [email protected] Abhilash Kumar UL Technology Solutions Ltd., Trivandrum, Kerala, India Abstract Agile methods have been successful in information technology projects. Can they lead to superior performance in construction projects under high uncertainty? From case study of a high performance construction company, we find that agile methods succeed when supplemented by high levels of trust, vertical communication, empowerment, and ethical values. Keywords: Agile methods, Construction industry, Organizational trust, Values INTRODUCTION Despite several decades of practice experience and research attention, project performance remains far from satisfactory. According to a recent Standish Group survey report, 61 per cent of information technology projects either failed or were challenged to meet success criteria; and 74 per cent faced schedule overruns (Standish, 2013). Zwikael and Globerson (2006) survey project managers from several industries and report that despite much discussion in practitioner literature about critical success factors, the failure rate of projects remains high, with average schedule overrun of 32 per cent and average cost overrun of 25 per cent. Another study finds that 40 to 200 per cent schedule overrun is normal in information technology projects (Lyneis et al. 2001). Multiple studies link failures in information systems projects to an inability to foresee and manage uncertainty in project contexts such as user involvement, stakeholder communication; or process risks such as weak estimates, requirements analysis (Yeo, 2002, p. 245; Nelson, 2008, p. 70-71; Chua, 2009, p. -
IMIA Working Group Paper 96(16) Cost Overrun in Construction Projects 49 Annual IMIA Conference, September 2016, Qatar
IMIA WG Pape 96(16), Cost Overrun . I M I A Working Group Paper 96(16) Cost Overrun in Construction Projects 49th Annual IMIA Conference, September 2016, Qatar Working Group Members Caroline Hairsine, CNA Hardy – Chairperson Roman Emelyanov, Sogaz Vitaly Valyuk, Sogaz Cedric Wong, Swiss Re Marina Zyuganova, Renaissance Insurance Group IMIA EC Sponsor: Olivier Hautefeuille, SCOR 1 IMIA WG Pape 96(16), Cost Overrun . Table of Contents Executive Summary ........................................................................................................................ 3 Cost overrun in the Construction Industry .................................................................................... 4 What is Cost Overrun ................................................................................................................. 4 The challenges for construction industry .................................................................................. 4 What are the causes of Cost overrun? ..................................................................................... 8 Does the type of contract have an impact on cost overrun? ................................................. 12 Liquidated Damages and it’s interface with cost overrun ...................................................... 13 Feasibility Studies & Risk Management as a means to mitigate cost overrun .................... 13 Project Finance Issues ............................................................................................................. 14 Cost and -
Cost Engineering Journal
THE JOURNAL OF AACE® INTERNATIONAL - THE AUTHORITY FOR TOTAL COST MANAGEMENT® March/April 2016 ENGINEERINGENGINEERING COSCOSTT www.aacei.org REVIEWING RESOURCE LEVELED SCHEDULES USING P6TM THE PLANNING FALLACY AND ITS EFFECT ON REALISTIC PROJECT SCHEDULES FORENSIC SCHEDULE ANALYSIS AND DISCRETIONARY LOGIC TECHNICAL ARTICLE The Planning Fallacy and Its Effect on Realistic Project Schedules Jeffrey Valdahl and Shannon A. Katt performing similar tasks. Kahneman Abstract: “How long do you think that task will take?” It’s a question that is states that the planning fallacy asked frequently during the course of a project, but is often answered with describes plans and forecasts that: little or no factual basis. Project team members typically underestimate the time needed to complete a task they are responsible for. This tendency has been referred to as the “planning fallacy,” and it can have a dramatic effect • Are unrealistically close to best- on developing a realistic overall project schedule. This article examines var- case scenarios ious causes of the planning fallacy, including optimism bias, lack of task un- • Could be improved by consulting packing, and short memory. the statistics of similar cases [7]. As a project manager or planner, it is important to recognize when these psychological effects are impacting your project schedule. This article uses Kahneman also describes the examples from various projects to show where this challenging planning exercise that first led him to describe issue is likely to occur. Identifying where adjustments need to be made, at the concept. He was working with a both the task and overall project level, is essential in developing a project team of colleagues to write an schedule that is both achievable and reasonable. -
Cost Overruns in Large-Scale Transportation Infrastructure Projects: Explanations and Their Theoretical Embeddedness
Cost overruns in Large-Scale Transportation Infrastructure Projects: Explanations and Their Theoretical Embeddedness By Chantal C. Cantarelli, Bent Flybjerg, Eric J. E. Molin, and Bert van Wee Full reference: Cantarelli, C. C., Flyvbjerg, B., Molin, E.J.E., and van Wee, B. 2010. “Cost Overruns in Large-Scale Transportation Infrastructure Projects: Explanations and Their Theoretical Embeddedness,” European Journal of Transport and Infrastructure Research, 10 (1): 5-18. Link to published article: http://www.ejtir.tbm.tudelft.nl/issues/2010_01 2 Abstract Managing large-scale transportation infrastructure projects is difficult due to frequent misinformation about the costs which results in large cost overruns that often threaten the overall project viability. This paper investigates the explanations for cost overruns that are given in the literature. Overall, four categories of explanations can be distinguished: technical, economic, psychological, and political. Political explanations have been seen to be the most dominant explanations for cost overruns. Agency theory is considered the most interesting for political explanations and an eclectic theory is also considered possible. Non- political explanations are diverse in character, therefore a range of different theories (including rational choice theory and prospect theory), depending on the kind of explanation is considered more appropriate than one all-embracing theory. Keywords: cost overruns, explanations, large-scale projects, theoretical embeddedness, transportation infrastructure 3 Introduction Investments in infrastructure are a considerable burden on a country’s gross domestic product (GDP). For example, in 2005 the Dutch government invested about 8 billion euros (CBS, 2005 in KIM, 2007) in infrastructure, amounting to 1.55% of GDP. This is of even greater concern if the inefficient allocation of financial resources as the result of decisions based on misinformation are recognised (Flyvbjerg, 2005b, De Bruijn and Leijten, 2007).