Modelling construction business performance

Searching academic databases for records on ‘business failure’, ‘business distress’ or ‘bankruptcy’ yields a large body of studies on qualitative, empirical, theoretical and simulation aspects. It is a central part of this research to distil from this large quantity of potentially relevant reports and methodologies those which can both flag and predict business failure in the construction industry. An additional search term, such as, ‘construction’, ‘construction industry’ or ‘contractor’ yields a much smaller number of hits, many of which emphasize the construction industry’s distinctive characteristics. We scientists need first to understand the subject of investigation and the environment in which it lives. To do so, an analysis of existing successful and failed approaches to particular research questions is helpful before embarking on new territory. This guides the structure of the following report for we first review papers that specifically report on aspects of business failure in the construction industry followed by, (a) an overview of promising candidates borrowed from other disciplines and industries, and (b) a possible novel approach. An Australian (Queensland) perspective on the topic will also drive this investigation as most of the published research has been applied to the US and UK construction industries.

Static load modelling and voltage stability indices

This paper analyzes the performance of some of the widely used voltage stability indices, namely, singular value, eigenvalue, and loading margin with different static load models. Well-known ZIP model is used to represent loads having components with different power to voltage sensitivities. Studies are carried out on a 10-bus power system and the New England 39-bus power system models. The effects of variation of load model on the performance of the voltage stability indices are discussed. The choice of voltage stability index in the context of load modelling is also suggested in this paper.