Effectiveness of two forms of grouted reinforced confinement methods to hollow concrete masonry panels

This paper presents a study on the effectiveness of two forms of reinforced grout confining systems for hollow concrete block masonry. The systems considered are: (1) a layer of grout directly confining the unreinforced masonry, and (2) a layer of grout indirectly confining the unreinforced masonry through block shells. The study involves experimental testing and finite-element (FE) modeling of six diagonally loaded masonry panels containing the two confining systems. The failure mode, the ultimate load, and the load-deformation behaviors of the diagonally loaded panels were successfully simulated using the finite-element model. In-plane shear strength and stiffness of the masonry thus determined are used to evaluate some selected models of the confined masonry shear including the strut-and-tie model reported in the literature. The evaluated strut width is compared with the prediction of the FE model and then extended for rational prediction of the strength of confined masonry shear walls.

Responding to black markets: Role of IT and network structures

This paper presents the unique black markets of asset pooling and leasing services, which exposes the nature and extent of industry-specific threats. We explore how firms providing such services together with their network structures that constitute the foundations of asset pooling and leasing respond to the threat of black markets. We encapsulate detecting and encountering the threat of black markets through the theoretical lens of agility, which encompasses the elements of sensing and responding (Overby et al. 2006; Roberts and Grover 2012). This novel concept of responding to threats using the agility lens has not been adequately addressed by past studies on enterprise agility. Through a case study of a global asset pooling and leasing company, we reveal the criticality of network structures, the impracticality of IT and inadequate tracking mechanisms that challenge firms in minimizing such threats.

Fault detection of wind turbine drivetrain utilizing power-speed characteristics

Wind energy, being the fastest growing renewable energy source in the present world, requires a large number of wind turbines to transform wind energy into electricity. One factor driving the cost of this energy is the reliable operation of these turbines. Therefore, it is a growing requirement within the wind farm community, to monitor the operation of the wind turbines on a continuous basis so that a possible fault can be detected ahead of time. As the wind turbine operates in an environment of constantly changing wind speed, it is a challenging task to design a fault detection technique which can accommodate the stochastic operational behavior of the turbines. Addressing this issue, this paper proposes a novel fault detection criterion which is robust against operational uncertainty, as well as having the ability to quantify severity level specifically of the drivetrain abnormality within an operating wind turbine. A benchmark model of wind turbine has been utilized to simulate drivetrain fault condition and effectiveness of the proposed technique has been tested accordingly. From the simulation result it can be concluded that the proposed criterion exhibits consistent performance for drivetrain faults for varying wind speed and has linear relationship with the fault severity level.

Remaining useful life prediction of rotating equipment using covariate-based hazard models : industry applications

The ability to estimate the expected Remaining Useful Life (RUL) is critical to reduce maintenance costs, operational downtime and safety hazards. In most industries, reliability analysis is based on the Reliability Centred Maintenance (RCM) and lifetime distribution models. In these models, the lifetime of an asset is estimated using failure time data; however, statistically sufficient failure time data are often difficult to attain in practice due to the fixed time-based replacement and the small population of identical assets. When condition indicator data are available in addition to failure time data, one of the alternate approaches to the traditional reliability models is the Condition-Based Maintenance (CBM). The covariate-based hazard modelling is one of CBM approaches. There are a number of covariate-based hazard models; however, little study has been conducted to evaluate the performance of these models in asset life prediction using various condition indicators and data availability. This paper reviews two covariate-based hazard models, Proportional Hazard Model (PHM) and Proportional Covariate Model (PCM). To assess these models’ performance, the expected RUL is compared to the actual RUL. Outcomes demonstrate that both models achieve convincingly good results in RUL prediction; however, PCM has smaller absolute prediction error. In addition, PHM shows over-smoothing tendency compared to PCM in sudden changes of condition data. Moreover, the case studies show PCM is not being biased in the case of small sample size.

Delisted stocks and momentum: Evidence from a new Australian dataset

We explore the impact of delisting on the performance of the momentum trading strategy in Australia. We employ a new dataset of hand-collected delisting returns for all Australian stocks and provide the first study outside the U.S. to jointly examine the effects of delisting and missing returns on the magnitude of momentum profits. In the sample of all stocks, we find that the profitability of momentum strategies depends crucially on the returns of delisted stocks, especiallyon bankrupt firms. In the sample of large stocks, however, the momentum effect remains strong after controlling for the effect of delisted stocks, in contrast to the U.S. evidence in which delisting returns can explain 40% of momentum profits. As these large stocks are less exposed to liquidity risks, the momentum effect in Australia is even more puzzling than in the U.S.

The influence of financial risk tolerance and risk perception on individual investment decision-making in a financial advice context

The aim of this thesis is to examine how risk tolerance and risk perception, two important but often misunderstood constructs, jointly influence client investment decisions in a financial advice context. By distinguishing the roles of these two risk constructs in client decision-making, in this thesis a new direction in studying financial/investment risks is provided while practice and regulation in the financial services industry is potentially informed. Based on the literature relating to risks and individual decision-making, a theoretical framework is developed and relevant hypotheses are tested in two studies with financial adviser clients in Australia. Results reveal that financial risk tolerance influences asset allocation both directly and indirectly through risk perception. The intervening role of risk perception suggests that risk tolerance affects how clients perceive the riskiness of an investment product which influences client decision-making.

Different approaches of applying single-objective binary genetic algorithm on the wind farm design

This paper discusses three different ways of applying the single-objective binary genetic algorithm into designing the wind farm. The introduction of different applications is through altering the binary encoding methods in GA codes. The first encoding method is the traditional one with fixed wind turbine positions. The second involves varying the initial positions from results of the first method, and it is achieved by using binary digits to represent the coordination of wind turbine on X or Y axis. The third is the mixing of the first encoding method with another one, which is by adding four more binary digits to represent one of the unavailable plots. The goal of this paper is to demonstrate how the single-objective binary algorithm can be applied and how the wind turbines are distributed under various conditions with best fitness. The main emphasis of discussion is focused on the scenario of wind direction varying from 0° to 45°. Results show that choosing the appropriate position of wind turbines is more significant than choosing the wind turbine numbers, considering that the former has a bigger influence on the whole farm fitness than the latter. And the farm has best performance of fitness values, farm efficiency, and total power with the direction between 20°to 30°.

Emerging issues for road construction and maintenance – A futuristic view

In the coming decades the design, construction and maintenance of roads will face a range of new issues and as such will require a number of new approaches. In particular, road authorities will be required to consider and respond to a range of issues related to climate change, and associated extreme weather events, such as the extensive flooding in January 2011 in Queensland, Australia Figure 1). Coupled with diminishing access to road construction supplies (such as aggregate), water scarcity, and the potential for increases in oil and electricity prices, this range of challenges bear little resemblance to those previously faced. In Australia, state and federal authorities face further pressures given the variety of needs resulting from the country's geographical and population diversity, expansive road networks, road freight requirements and relatively small population base.

Reducing environmental pressures of road building

Although road construction and use provides significant economic and social benefits its environmental impact is of growing concern. Roads are one of the greatest greenhouse gas contributors both directly through fossil energy consumed in mining, transporting, earthworks, and paving work, along with in-direct emissions from road use by vehicles. This discussion paper will outline opportunities within the Australian context for reducing environmental pressure in road building and consider the future environmental impacts of road projects.

Understanding pressures on the future of roads: A sustainable built environment National Research Centre Discussion Paper

According to the Australian Government, when combined with expected population growth and internal migration, expected changes in temperature and rainfall are expected to increase road maintenance costs by over 30 percent by 2100. This presents a significant future economic risk, in response, this paper will discuss the potential for roads to improve their resilience to the impacts of climate change and other key pressures. The paper will also highlight how such measures can inform state and national main road infrastructure planning and reduce future associated risks and costs.

The future of roads: How road agencies are facing a conflicted future

Although road construction and use provides significant economic and social benefits, its environmental impact is of growing concern. Roads are one of the greatest greenhouse gas contributors, both directly through fossil energy consumed in mining, transporting, earthworks and paving work, and through the emissions from road use by vehicles. Further,according to the Australian Government, when combined with expected population growth and internal migration,expected changes in temperature and rainfall are expected to increase road maintenance costs. This discussion paper will outline opportunities within the Australian context for reducing environmental and carbon pressure from road building, and provide a framework for considering the potential pressures that will affect the resilience of roads to the impacts of climate change and oil vulnerability.

The future of roads: Reducing environmental pressures and the management of carbon

Although road construction and use provides significant economic and social benefits, its environmental impact is of growing concern. Roads are one of the greatest greenhouse gas contributors, both directly through fossil energy consumed in mining, transporting, earthworks and paving work, plus the emissions from road use by vehicles. Further, according to the Australian Government, when combined with forecast population growth, internal migration and changes in temperature and rainfall, these are expected to increase road maintenance costs. This discussion paper outlines opportunities within the Australian context for reducing environmental and carbon pressure from road building, and provides a framework for considering the potential future pressures that will affect the resilience of roads to the impacts of climate change and oil vulnerability. Seven strategic areas are outlined for further investigation, including a guide to carbon management for road agencies covering planning, funding, procurement, delivery and maintenance of roads.

Reducing the environmental impact of road construction

The practice of road construction and maintenance is inherently lean and efficient; a result of the economic benefits that are gained by minimizing wasted resources. In this age of conservation and environmental management, the inbuilt sustainability of existing road construction practices is being developed and extended to produce variety of environmentally sustainable options. A new concept of a “sustainable road” has emerged through both academia and industry, and is defined to be a road that is: - constructed to reduce environmental impacts; - designed to optimise the alignment (vertical and horizontal including considerations of ecological constraints and operational use by vehicles); - resilient to future environmental and economic pressures (e.g. climate change and resource scarcity); - adaptable to changing uses including increased travel volumes, greater demand for public and active (cycling and walking) transport, and; - able to harvest the energy to power itself.

Scenario planning and emerging global trends for the future of roads and automobile transport

Roads and road infrastructure will be faced with multiple challenges over the coming decades – challenges that in many ways bear little resemblance to those previously faced - and as such will require new approaches. The opportunity exists to transform the way road infrastructure is conceived and constructed, as a key part of the process of assisting society to respond to climate change and reduce other environmental pressures. Innovations in road construction, use and management in order to manage these changes can now be seen. Scenario planning is one tool that can take into account emerging challenges, develop or adopt new approaches, and thus help this transformation to occur. The paper explores scenario planning methodologies, global innovations and trends in road construction and maintenance and the findings from stakeholder workshops in Brisbane and Perth. It highlights key opportunities for road agencies to use scenarios to enable planning that, in the face of future uncertainties, facilitates appropriate responses.

How will the future of roads be navigated?

In the coming decades the design, construction and maintenance of roads will face a range of new challenges - that in many ways will bear little resemblance to the challenges previously faced - and as such will require a number of new approaches. Such challenges will result from a growing number of interconnected environmental, social and economic factors, which are set to apply significant pressure on the future of roads. For instance, environmental pressures will include the impacts of climate change on rainfall patterns and temperature profiles; economic pressure will be affected by shifting global economic balances and flows, and will include materials and resources shortages, along with predicted increases in energy and resource prices globally,i and social pressures will include potential shifts to lighter vehicles, reduced use of cars due to higher fuel costs, and political pressure to respond to climate change.