Abstract:The majority of WEC (wave energy converter) projects are expensive and pose a large risk to a developer. Currently no developers have been successful in commercialising a WEC. So far, many wave energy feasibility studies have only considered the LCOE (levelised cost of electricity), assessing investment in marine energy technologies from a purely financial point of view. No previous studies have, however, explicitly accounted for development risk as well as the LCOE to determine the feasibility of a project. This paper proposes a new methodology that can be used to account for both risk and the LCOE to give a clearer picture of the feasibility of a WEC development. By combining the LCOE and risk score for a particular development, the "value for risk" can be calculated, presented here as the "RR ratio" ("Risk/Reward ratio"). A number of case studies were chosen to test the model, investigating the RR ratio for a number of different WEC technologies and ranking them to suggest an optimal development path for the industry. Results showed that projects that combine many innovative technologies provide the best "value for risk". These devices overall had the highest risk, suggesting that multiple developers are likely required to collaborate in order to reduce the risk down to acceptable levels for each.
The aim of this paper is to alert the engineering industry to opportunities in foreign markets. The key to success in the international market place is shown to be directly dependent upon an understanding of the environment of particular overseas countries, districts, cities and towns. The paper stresses the importance of an effective understanding of economic, cultural, institutional, ethical, political, legal and other aspects of an overseas market. The paper concludes that international marketing is founded on research in a similar way to domestic marketing. However, the process is seen to require a closer understanding of subjective as well as objective analysis. Otherwise service, design or product strategy will not produce plans which achieve the long term profits which warrant overseas operations.
This paper highlights construction and management problems in the provision of cost effective housing for low income groups in developing countries based on a case study in the Republic of Vietnam inThe lessons learnt from the project include those associated with design, cost control systems, communication, contract law and planning. The cost effectiveness of sophisticated construction equipment b compared with traditional construction methoak in developing countries. The effect of monsoonal weather patterns is analysed to show how "'downtime" on building sites can be minimised. The problems of supplying to and obtaining supplies from within developing countries are evaluated against design and construction programmes. Part of this analysis includes the quality of designers and managers as well as the repair of equipment.An appreciation of the evidence compounded from the problemsportrayed throughout the paper lea& to conclusions of the need for simplipcation of design, the impact of inadequate local support and hence the need for detailed and complete advancedplanning. In addition, the conclusions stress the need for the careful selection of se!f-supporting teams of multi4isciplined professionals and sub-professionah. 1970-72.
Aims to report the results of research into the techniques of forecasting long‐term building industry prospects. Outlines the actual results of research into the Australian building industry and contrasts the results and factors stressed by a number of forecasters. Develops a model to show the interrelationships between the key parameters. Consequent on comparisons over a long period (mostly 1960/70 et seq.) and detailed research since 1980, a high degree of validity of the resultant hypothesis has been developed. Therefore, considers the hypothesis and resultant model to be reliable to forecast building industry forecasts beyond the year 2000. Gives consideration to the reliability and validity of the results of the research into forecasting the building industry prospects in any country′s economy.
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