Effect of Common Cause Failures on Indirect Costs

Adey, Bryan T.; Hajdin, Rade; Brühwiler, Eugen

doi:10.1061/(asce)1084-0702(2004)9:2(200)

Cited by 29 publications

(24 citation statements)

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“…in literature and in practice one can find different definitions of overhead costs (cilensek 1991;Tah et al 1994;Holland, Hobson 1999;assaf et al 2001;adey et al 2004;Enshassi et al 2008;Šiškina et al 2009;apanaviciene, Daugeliene 2011). it is worth noting that some contractors cannot precisely define this notion.…”

Section: Defining Overhead Costs and Profitmentioning

confidence: 99%

Overhead Costs and Profit Calculation by Polish Contractors

Plebankiewicz

Leśniak

2013

Technological and Economic Development of Economy

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The main criterion taken into consideration when choosing a contractor is the bid price that the contractor suggests. The basis for determining such a price are the direct costs connected with works realization as well as mark-ups, mainly overhead costs and profit. Overhead costs and profit constitute a considerable part of the bid price and their improper calculation can significantly influence the financial situation of the company. In literature and in practice one can find many definitions and ways of determining overhead costs and profit. The article presents research results concerning defining and calculating overhead costs and profit by Polish contractors, carried out twice – in 2004 and 2010. They were compared with similar studies performed in other countries. The article also presents mathematical methods created by the authors, by means of which overhead costs and profit can be calculated more precisely than by the popular methods commonly employed by Polish contractors.

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Section: Defining Overhead Costs and Profitmentioning

confidence: 99%

Overhead Costs and Profit Calculation by Polish Contractors

Plebankiewicz

Leśniak

2013

Technological and Economic Development of Economy

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“…Losses resulted from natural hazards can be divided into direct losses (such as repair of infrastructure, replacement of damaged contents and components) and indirect losses (business disruptions, relocations expenses, supply chain interruption), as shown in Brookshire et al (1997) [20]. In particular, Adey et al (2004) [22] show that indirect losses of an infrastructure network can be divided into two categories: those associated with temporal prolongation of time and those associated with loss of connectivity. In general, since indirect losses affect the communities that is served by the infrastructure, it is fundamental to take into account the source of the damage.…”

Section: -Indirect Lossesmentioning

confidence: 99%

“…These losses should include both direct and indirect costs (Brookshire et al (1997), Forcellini (2016), [20,21]). As shown in Adey et al (2004) [22], direct costs are those incurred by the infrastructure owner, such as material and labor costs due to undertake an action (i.e. deck replacement and rehabilitation).…”

Section: -Introductionmentioning

confidence: 99%

A New Methodology to Assess Indirect Losses in Bridges Subjected to Multiple Hazards

Forcellini

2018

Emerg Sci J

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Decision making approaches to manage bridge recovering after the impact of multiple hazards are increasing all over the world. In particular, bridges can be considered critical links in highway networks because of their vulnerability and their resilience can be assessed on the basis of evaluation of direct and indirect losses. This paper aims at proposing a new methodology to assess indirect losses for bridges subjected to multiple hazards. The method applied to calculate direct costs is the credited Performance Based Earthquake Engineering (PBEE) methodology by the Pacific Earthquake Engineering Research (PEER) center. Therefore, the main objective of the study consists in the assessment of indirect losses that are generally neglected elsewhere. In particular, the paper proposes to calculate indirect losses from direct costs and to divide them into connectivity losses and prolongation of time. The presented formulation has been applied to a real case study aimed at strengthening a benchmark bridge with several isolated configurations. The results show that the application of the proposed methodology allows to evaluate possible solutions to strengthen the original configuration.

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“…Construction contractor surveys, analysis of situation and statistical research on the understanding of the overhead costs concept as well as categorization of indirect costs, the implementation of evaluation, planning and control in practice Pfaff (1994), Holland, Hobson (1999), Luther, Robson (2001), Assaf et al (2001), Chan, Lee (2003), Leung et al (2005), Dikmen et al (2007), Enshassi et al (2008), Elazouni (2009) 2 Analysis of construction delays vs. overhead costs volume Taam, Singh (2003), Adey et al (2004), Zayed et al (2005), Błaszczyk, Nowak (2009) 3 Analysis of the construction company's overhead costs distribution and allocation Kim, Ballard (2001, 2002, Shakantu et al (2003), Chen et al (2008), Kee (2008) 4 Analysis of fixed expenses recovering Schiffers (1979), Sehlhoff (2001Sehlhoff ( , 2003, Drees, Paul (2002), Meinen (2005), Horngren et al (2006), Lea (2007), Ginevičius (2007), Kachaner (2009) Research papers in the first group reflect the overhead costs evaluation and management experience of construction contractors from various countries. Scientists carry out contractor surveys and statistical analysis of the results in order to determine whether construction contractors correctly understand the definitions of indirect and overhead costs as well as whether appropriate costs evaluation methods and costs allocation techniques are applied.…”

Section: Relevant Literature On Construction Company Overhead Costsmentioning

confidence: 99%

New Classification of Construction Companies: Overhead Costs Aspect / Naujas Statybos Įmoni Ųklasifikavimas: Pridėtinių Išlaidų Aspektas

Apanavičienė

Daugeliene

2011

Journal of Civil Engineering and Management

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The traditional classification of construction companies depending on the number of employees is not appropriate when analysing the competitiveness of construction companies. The collected data of Lithuanian construction companies was analysed by applying statistical methods and the construction companies were classified into competitiveness classes according to the relative value of the overhead costs. The new classification provides the basis for economical evaluation of the construction companies and modelling of their competitiveness in regard to the value of overhead costs as well as applying the competitive advantages for the estimation of construction bidding price. Santrauka Tradicinė statybos įmonių klasifikacija pagal įmonės darbuotojų skaičių nėra korektiška statybos įmonėms analizuoti ir jų konkurencingumui vertinti. Taikant statistinius duomenų apdorojimo metodus išnagrinėti Lietuvos statybos įmonių duomenys ir pasiūlyta nauja statybos įmonių klasifikacija į konkurencingumo klases pagal jų pridėtinių išlaidų santykinio rodiklio reikšmę. Sukurta nauja statybosį monių klasifikacija leidžia atlikti ekonominį statybos įmonių įvertinimą ir modeliuoti jų konkurencingumą pridėtinių išlaidų aspektu, suformuoti konkurencingą pasiūlymo kainą, įvertinant konkrečius statybos įmonės konkurencinius pranašumus.

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Effect of Common Cause Failures on Indirect Costs

Cited by 29 publications

References 0 publications

Overhead Costs and Profit Calculation by Polish Contractors

Overhead Costs and Profit Calculation by Polish Contractors

A New Methodology to Assess Indirect Losses in Bridges Subjected to Multiple Hazards

New Classification of Construction Companies: Overhead Costs Aspect / Naujas Statybos Įmoni Ųklasifikavimas: Pridėtinių Išlaidų Aspektas

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