A comparative review of quantitative VFM methodology for PPP infrastructure project in Indonesia and Australia

The Government of Indonesia (GoI) increasingly relies on the private sector financing to build and operate infrastructures through public private partnership (PPP) schemes. However, PPP does not automatically provide the solution for the financing scheme due to value for money (VFM) issues. The procurement authority must show whether a PPP proposal is the optimal solution that provides best VFM outcome. The paper presents a literature review of comparing quantitative VFM methodology for PPP infrastructure project procurement in Indonesia and Australia. Public Sector Comparator (PSC) is used to assess the potential project VFM quantitatively in Australia. In Indonesia, the PSC has not been applied, where the PPP procurement authority tends to utilize a common project evaluation method that ignores the issues of risk. Unlike the conventional price bid evaluation, the PSC enables a financial comparison including costs/gains and risks. Since the construction of PSC is primarily on risk management approach, it can facilitate risk negotiation processes between the involved parties. The study indicates that the quantitative VFM methodology of PSC is potentially applicable in Indonesia for water supply sector. Various supporting regulations are available that emphasize the importance of VFM and risk management in infrastructure investment. However, the study also reveals a number of challenges that need to be anticipated, such as the need of a more comprehensive PPP policy at both central and local government level, a more specific legal instrument for bidding evaluation method and the issue of institutional capacity development in PPP Units at the local level.

Confidence in the police : balancing public image with community safety : a comparative review of the literature

Examining the evolution of British and Australian policing, this comparative review of the literature considers the historical underpinnings of policing in these two countries and the impact of community legitimacy derived from the early concepts of policing by consent. Using the August 2011 disorder in Britain as a lens, this paper considers whether, in striving to maintain community confidence, undue emphasis is placed on the police's public image at the expense of community safety. Examining the path of policing reform, the impact of bureaucracy on policing and the evolving debate surrounding police performance, this review suggests that, while largely delivering on the ideal of an ethical and strong police force, a preoccupation with self-image may in fact result in tarnishing the very thing British and Australian police forces strive to achieve – their standing with the public. This paper advocates for a more realistic goal of gaining public respect rather than affection in order to achieve the difficult balance between maintaining trust and respect as an approachable, ethical entity providing firm, confident policing in this ever-evolving, modern society.

Towards a dignified and sustainable electricity generation sector in Australia : a comparative review of three models

Electricity is the cornerstone of modern life. It is essential to economic stability and growth, jobs and improved living standards. Electricity is also the fundamental ingredient for a dignified life; it is the source of such basic human requirements as cooked food, a comfortable living temperature and essential health care. For these reasons, it is unimaginable that today's economies could function without electricity and the modern energy services that it delivers. Somewhat ironically, however, the current approach to electricity generation also contributes to two of the gravest and most persistent problems threatening the livelihood of humans. These problems are anthropogenic climate change and sustained human poverty. To address these challenges, the global electricity sector must reduce its reliance on fossil fuel sources. In this context, the object of this research is twofold. Initially it is to consider the design of the Renewable Energy (Electricity) Act 2000 (Cth) (Renewable Electricity Act), which represents Australia's primary regulatory approach to increase the production of renewable sourced electricity. This analysis is conducted by reference to the regulatory models that exist in Germany and Great Britain. Within this context, this thesis then evaluates whether the Renewable Electricity Act is designed effectively to contribute to a more sustainable and dignified electricity generation sector in Australia. On the basis of the appraisal of the Renewable Electricity Act, this thesis contends that while certain aspects of the regulatory regime have merit, ultimately its design does not represent an effective and coherent regulatory approach to increase the production of renewable sourced electricity. In this regard, this thesis proposes a number of recommendations to reform the existing regime. These recommendations are not intended to provide instantaneous or simple solutions to the current regulatory regime. Instead, the purpose of these recommendations is to establish the legal foundations for an effective regulatory regime that is designed to increase the production of renewable sourced electricity in Australia in order to contribute to a more sustainable and dignified approach to electricity production.

A Comparative Review of Existing Data and Methodologies for Calculating Embodied Energy and Carbon of Buildings

In the Climate Change Act of 2008 the UK Government pledged to reduce carbon emissions by 80% by 2050. As one step towards this, regulations are being introduced requiring all new buildings to be ‘zero carbon’ by 2019. These are defined as buildings which emit net zero carbon during their operational lifetime. However, in order to meet the 80% target it is necessary to reduce the carbon emitted during the whole life-cycle of buildings, including that emitted during the processes of construction. These elements make up the ‘embodied carbon’ of the building. While there are no regulations yet in place to restrict embodied carbon, a number of different approaches have been made. There are several existing databases of embodied carbon and embodied energy. Most provide data for the material extraction and manufacturing only, the ‘cradle to factory gate’ phase. In addition to the databases, various software tools have been developed to calculate embodied energy and carbon of individual buildings. A third source of data comes from the research literature, in which individual life cycle analyses of buildings are reported. This paper provides a comprehensive review, comparing and assessing data sources, boundaries and methodologies. The paper concludes that the wide variations in these aspects produce incomparable results. It highlights the areas where existing data is reliable, and where new data and more precise methods are needed. This comprehensive review will guide the future development of a consistent and transparent database and software tool to calculate the embodied energy and carbon of buildings.

A Comparative Review of existing data and methodologies for calculating embodied energy and carbon of buildings

In the Climate Change Act of 2008 the UK Government pledged to reduce carbon emissions by 80% by 2050. As one step towards this, regulations are being introduced requiring all new buildings to be ‘zero carbon’ by 2019. These are defined as buildingswhichemitnetzerocarbonduringtheiroperationallifetime.However,inordertomeetthe80%targetitisnecessary to reduce the carbon emitted during the whole life-cycle of buildings, including that emitted during the processes of construction. These elements make up the ‘embodied carbon’ of the building. While there are no regulations yet in place to restrictembodiedcarbon,anumberofdifferentapproacheshavebeenmade.Thereareseveralexistingdatabasesofembodied carbonandembodiedenergy.Mostprovidedataforthematerialextractionandmanufacturingonly,the‘cradletofactorygate’ phase. In addition to the databases, various software tools have been developed to calculate embodied energy and carbon of individual buildings. A third source of data comes from the research literature, in which individual life cycle analyses of buildings are reported. This paper provides a comprehensive review, comparing and assessing data sources, boundaries and methodologies. The paper concludes that the wide variations in these aspects produce incomparable results. It highlights the areas where existing data is reliable, and where new data and more precise methods are needed. This comprehensive review will guide the future development of a consistent and transparent database and software tool to calculate the embodied energy and carbon of buildings.

Incorporation of the United Nations Convention on the Rights of the Child in Law: A Comparative Review

Incorporation in law is recognised as key to the implementation of the UNCRC. This article considers the ways in which a variety of countries have chosen to incorporate the CRC, drawing on a study conducted by the authors for UNICEF-UK. It categorises the different approaches adopted into examples of direct incorporation (where the CRC forms part of domestic law) and indirect incorporation (where there are legal obligations which encourage its incorporation); and full incorporation (where the CRC has been wholly incorporated in law) and partial incorporation (where elements of the CRC have been incorporated). Drawing on evidence and interviews conducted during field visits in six of the countries studied, it concludes that children’s rights are better protected – at least in law if not also in practice – in countries that have given legal status to the CRC in a systematic way and have followed this up by establishing the necessary systems to support, monitor and enforce the implementation of CRC rights.

A comparative review of risk based portfolio allocations: An empirical study throughout rising yields

Since the financial crisis, risk based portfolio allocations have gained a great deal in popularity. This increase in popularity is primarily due to the fact that they make no assumptions as to the expected return of the assets in the portfolio. These portfolios implicitly put risk management at the heart of asset allocation and thus their recent appeal. This paper will serve as a comparison of four well-known risk based portfolio allocation methods; minimum variance, maximum diversification, inverse volatility and equally weighted risk contribution. Empirical backtests will be performed throughout rising interest rate periods from 1953 to 2015. Additionally, I will compare these portfolios to more simple allocation methods, such as equally weighted and a 60/40 asset-allocation mix. This paper will help to answer the question if these portfolios can survive in a rising interest rate environment.

A comparative review of dimension reduction methods in approximate Bayesian computation

Approximate Bayesian computation (ABC) methods make use of comparisons between simulated and observed summary statistics to overcome the problem of computationally intractable likelihood functions. As the practical implementation of ABC requires computations based on vectors of summary statistics, rather than full data sets, a central question is how to derive low-dimensional summary statistics from the observed data with minimal loss of information. In this article we provide a comprehensive review and comparison of the performance of the principal methods of dimension reduction proposed in the ABC literature. The methods are split into three nonmutually exclusive classes consisting of best subset selection methods, projection techniques and regularization. In addition, we introduce two new methods of dimension reduction. The first is a best subset selection method based on Akaike and Bayesian information criteria, and the second uses ridge regression as a regularization procedure. We illustrate the performance of these dimension reduction techniques through the analysis of three challenging models and data sets.

A comparative review of skill assessment: performance, prediction and profiling

The assessment of chess players is an increasingly attractive opportunity and an unfortunate necessity. The chess community needs to limit potential reputational damage by inhibiting cheating and unjustified accusations of cheating: there has been a recent rise in both. A number of counter-intuitive discoveries have been made by benchmarking the intrinsic merit of players’ moves: these call for further investigation. Is Capablanca actually, objectively the most accurate World Champion? Has ELO rating inflation not taken place? Stimulated by FIDE/ACP, we revisit the fundamentals of the subject to advance a framework suitable for improved standards of computational experiment and more precise results. Other domains look to chess as the demonstrator of good practice, including the rating of professionals making high-value decisions under pressure, personnel evaluation by Multichoice Assessment and the organization of crowd-sourcing in citizen science projects. The ‘3P’ themes of performance, prediction and profiling pervade all these domains.

Professionalisation and accounting in China: a historical and comparative review

While applied broadly within the setting of accounting and some other occupations, “a profession” is a particularly Western concept with peculiarly British origins. Additionally, the significance of such status and the process of “professionalisation” by which it is acquired remain beset by lingering uncertainties. Examination of the sociology of the accounting occupation within non-Western locations can contribute to exposing and clarifying these problematic and contingent aspects of occupational stratification, as well as assist in redressing the bias towards English-speaking and European countries within the accounting history literature. Proceeding from these theoretical premises, a historical and comparative study of the accounting occupation within China is undertaken. This seeks to integrate the world’s most populous nation into the historical narrative of the professionalisation of accounting, and reinforces – often vividly – that accountants’ work status is not bound to any predetermined trajectory which is innate to the occupation. Instead, the variety of localised and time-specific variables which constitute the occupational context are shown to exert a dominating influence.