A dynamic approach to forecast rental growth

Numerous econometric models have been proposed for forecasting property market performance, but limited success has been achieved in finding a reliable and consistent model to predict property market movements over a five to ten year timeframe. This research focuses on office rental growth forecasts and overviews many of the office rent models that have evolved over the past 20 years. A model by DiPasquale and Wheaton is selected for testing in the Brisbane, Australia office market. The adaptation of this study did not provide explanatory variables that could assist in developing a reliable, predictive model of office rental growth. In light of this result, the paper suggests a system dynamics framework that includes an econometric model based on historical data as well as user input guidance for the primary variables. The rent forecast outputs would be assessed having regard to market expectations and probability profiling undertaken for use in simulation exercises. The paper concludes with ideas for ongoing research.

Supply chain sustainability : a relationship management approach moderated by culture and commitment

This research explores the nature of relationship management on construction projects in Australia and examines the effects of culture, by means of Schwarz’s value survey, on relationships under different contract strategies. The research was based on the view that the development of a sustainable supply chain depends on the transfer of knowledge and capabilities from the larger players in the supply chain through collaboration brought about by relationship management. The research adopted a triangulated approach in which quantitative data were collected by questionnaire, interviews were conducted to explore and enrich the quantitative data and case studies were undertaken in order to illustrate and validate the findings. The aim was to investigate how values and attitudes enhance or reduce the incorporation of the supply chain into the project. From the research it was found that the degree of match and mismatch between values and contract strategy impacts commitment and the engagement and empowerment of the supply chain.

Moving tele-monitoring and tele-treatment from promise to practice : a business model approach for a chronic lower back pain application

The availability of new information and communication technologies creates opportunities for new, mobile tele-health services. While many promising tele-health projects deliver working R&D prototypes, they often do not result in actual deployment. We aim to identify critical issues than can increase our understanding and enhance the viability of the mobile tele-health services beyond the R&D phase by developing a business model. The present study describes the systematic development and evaluation of a service-oriented business model for tele-monitoring and -treatment of chronic lower back pain patients based on a mobile technology prototype. We address challenges of multi-sector collaboration and disruptive innovation.

Improving team dynamics and innovation : the “Aspect Design” approach applied to interaction design

Interaction Design is a fast developing branch of Industrial Design. The availability of cheap microprocessors and sensor electronics allow interactions between people and products that were until recently impossible. This has added additional layers of complexity to the design process. Novice designers find it difficult to effectively juggle these complexities and typically tend to focus on one aspect at a time. They also tend to take a linear, step-by-step approach to the design process in contrast to expert designers who pursue “parallel lines of thought” whilst simultaneously co-evolving both problem and solution. (Lawson, 1993) This paper explores an approach that encourages designers (in this case novice designers) to take a parallel rather than linear approach to the design process. It also addresses the problem of social loafing that tends to occur in team activities.

A pattern mining approach for information filtering systems

It is a big challenge to clearly identify the boundary between positive and negative streams for information filtering systems. Several attempts have used negative feedback to solve this challenge; however, there are two issues for using negative relevance feedback to improve the effectiveness of information filtering. The first one is how to select constructive negative samples in order to reduce the space of negative documents. The second issue is how to decide noisy extracted features that should be updated based on the selected negative samples. This paper proposes a pattern mining based approach to select some offenders from the negative documents, where an offender can be used to reduce the side effects of noisy features. It also classifies extracted features (i.e., terms) into three categories: positive specific terms, general terms, and negative specific terms. In this way, multiple revising strategies can be used to update extracted features. An iterative learning algorithm is also proposed to implement this approach on the RCV1 data collection, and substantial experiments show that the proposed approach achieves encouraging performance and the performance is also consistent for adaptive filtering as well.

Website customization : exploring a tag-based approach in the Australian banking context

Website customization can help to better fulfill the needs and wants of individual customers. It is an important aspect of customer satisfaction of online banking, especially among the younger generation. This dimension, however, is poorly addressed particularly in the Australian context. The proposed research aims to fulfill this gap by exploring the use of a popular Web 2.0 technology known as tags or user assigned metadata to facilitate customization at the interaction level. A prototype is proposed to demonstrate the various interaction-based customization types, evaluated through a series of experiments to assess the impact on customer satisfaction. The expected research outcome is a set of guidelines akin to interaction design patterns for aiding the design and implementation of the proposed tag-based approach.

Ethics and Socially Responsible Investment : A Philosophical Approach

This volume breaks new ground by approaching Socially Responsible Investment (SRI) as an explicitly ethical practice in financial markets. The work explains the philosophical and practical shortcomings of ‘long term shareholder value’ and the origins and conceptual structure of SRI, and links its pursuit to both its deeper philosophical foundations and the broader, multi-dimensional global movement towards greater social responsibility in global markets. Interviews with fund managers in the Australian SRI sector generate recommendations for better integrating ethics into SRI practice via ethically informed engagement with invested companies, and an in-depth discussion of the central practical SRI issue of fiduciary responsibility strengthens the case in favour of SRI. The practical and ethical theoretical perspectives are then brought together to sketch out an achievable ideal for SRI worldwide, in which those who are involved in investment and business decisions become part of an ‘ethical chain’ of decision makers linking the ultimate owners of capital with the business executives who frame, advocate and implement business strategies. In between there are investment advisors, fund managers, business analysts and boards. The problem lies in the fact that the ultimate owners are discouraged from considering their own values, or even their own long term interests, whilst the others often look only to short term interests. The solution lies in the latter recognising themselves as links in the ethical chain.

Latent degradation indicators estimation and prediction : a Monte Carlo approach

Asset health inspections can produce two types of indicators: (1) direct indicators (e.g. the thickness of a brake pad, and the crack depth on a gear) which directly relate to a failure mechanism; and (2) indirect indicators (e.g. the indicators extracted from vibration signals and oil analysis data) which can only partially reveal a failure mechanism. While direct indicators enable more precise references to asset health condition, they are often more difficult to obtain than indirect indicators. The state space model provides an efficient approach to estimating direct indicators by using indirect indicators. However, existing state space models to estimate direct indicators largely depend on assumptions such as, discrete time, discrete state, linearity, and Gaussianity. The discrete time assumption requires fixed inspection intervals. The discrete state assumption entails discretising continuous degradation indicators, which often introduces additional errors. The linear and Gaussian assumptions are not consistent with nonlinear and irreversible degradation processes in most engineering assets. This paper proposes a state space model without these assumptions. Monte Carlo-based algorithms are developed to estimate the model parameters and the remaining useful life. These algorithms are evaluated for performance using numerical simulations through MATLAB. The result shows that both the parameters and the remaining useful life are estimated accurately. Finally, the new state space model is used to process vibration and crack depth data from an accelerated test of a gearbox. During this application, the new state space model shows a better fitness result than the state space model with linear and Gaussian assumption.

Maintenance chain integration using Petri-net enabled multiagent system modeling and implementation approach

Engineering asset management (EAM) is a broad discipline and the EAM functions and processes are characterized by its distributed nature. However, engineering asset nowadays mostly relies on self-maintained experiential rule bases and periodic maintenance, which is lacking a collaborative engineering approach. This research proposes a collaborative environment integrated by a service center with domain expertise such as diagnosis, prognosis, and asset operations. The collaborative maintenance chain combines asset operation sites, service center (i.e., maintenance operation coordinator), system provider, first tier collaborators, and maintenance part suppliers. Meanwhile, to realize the automation of communication and negotiation among organizations, multiagent system (MAS) technique is applied to enhance the entire service level. During the MAS design processes, this research combines Prometheus MAS modeling approach with Petri-net modeling methodology and unified modeling language to visualize and rationalize the design processes of MAS. The major contributions of this research include developing a Petri-net enabled Prometheus MAS modeling methodology and constructing a collaborative agent-based maintenance chain framework for integrated EAM.

Damage detection in truss bridges using vibration based multi-criteria approach

This paper uses dynamic computer simulation techniques to develop and apply a multi-criteria procedure using non-destructive vibration-based parameters for damage assessment in truss bridges. In addition to changes in natural frequencies, this procedure incorporates two parameters, namely the modal flexibility and the modal strain energy. Using the numerically simulated modal data obtained through finite element analysis of the healthy and damaged bridge models, algorithms based on modal flexibility and modal strain energy changes before and after damage are obtained and used as the indices for the assessment of structural health state. The application of the two proposed parameters to truss-type structures is limited in the literature. The proposed multi-criteria based damage assessment procedure is therefore developed and applied to truss bridges. The application of the approach is demonstrated through numerical simulation studies of a single-span simply supported truss bridge with eight damage scenarios corresponding to different types of deck and truss damage. Results show that the proposed multi-criteria method is effective in damage assessment in this type of bridge superstructure.

Outcomes and implications of one teacher's approach to context-based science in the middle years

In Australia, there is a crisis in science education with students becoming disengaged with canonical science in the middle years of schooling. One recent initiative that aims to improve student interest and motivation without diminishing conceptual understanding is the context-based approach. Contextual units that connect the canonical science with the students’ real world of their local community have been used in the senior years but are new in the middle years. This ethnographic study explored the learning transactions that occurred in one 9th grade science class studying a context-based Environmental Science unit for 11 weeks. Outcomes of the study and implications are discussed in this paper.