Value Creation And The Pursuit Of Multi Factor Productivity Improvement

This paper links Value Management to macro-economics to explore transformational innovation. It borrows from economics and the relationship between technological progress and rising living standards for citizens. Central to this is seeing 'technology' in a wider sense than devices. What makes this paper different is it attempts to link Government spending on capital projects directly to economic growth in an economy. Whilst macroeconomists use historic data, this paper applies those theories to the conceptual stages of capital-projects to become part of a Government's investment appraisal process. As such, this paper outlines a 'how to' approach that will help Governments prefer Foreign Investments that lead to long-term economic growth. The hope is that this paper will stimulate other researchers to replicate the methodology and in so doing open a new direction for innovation methodologies such as Value Engineering and Value Management that link capital projects to growth in GDP

Empowering Added Value in Highway Project: A Strategy to Improve the Feasibility

Most mega-project infrastructure such as highway construction requires an enormous amount of cost. This situation might be a problem to developing countries that have limited national budget plan. On the other hand, the capability to transfer the funding of infrastructure depends on the project attractiveness to the private sector. The evaluation to involve in the project should be supported by a significant value for money from the business perspective. Optimum feasibility plays a vital role in bridging the partnership between the government and private interests. The study uses a case study of highway project development of Trans-Sumatera highway road (TSHR) that spans about 2700 km to elaborate on how project feasibility can be improved through creative method. Value engineering (VE) approach as a systematic way to generate innovative ideas by combining multidiscipline backgrounds perspective is used. The study shows that additional functions for the project include integration with motorbike toll road, dry port, and railway line; others also include tourism, fiber optic, and service area development. The innovative ideas have contributed to the significant increase in the internal rate of return (IRR) to the project from 7.79 to 12.76%. The study also formulates institutional scheme through build operate sharing transfer (BOST) which administers government’s role in the project development

Improving Feasibility of High-Speed Train Project: Creating Added Value

Infrastructure plays a significant role in increasing economic development by providing access of transportation and improving connectivity. High-speed train (HST), one of mega infrastructure projects, has a positive impact on economic development of a nation. However, the project feasibility requires the maximum value for money and an acceptable risk to attract private investors. This study aims to improve the feasibility of the project by producing a conceptual design of Jakarta-Surabaya high-speed train in Indonesia. Value engineering will be used to evaluate both technical and financial aspects of the project. The methodology uses both qualitative and quantitative approaches through a case study, in-depth interviews, and life-cycle cost analysis. The result shows an optimum route sketching for the project and potential added value to the project. It consists of the solar cell, fiber optic, tourism, and transit-oriented development. The output also generates the division of responsibility between the government and business entity during the project lifecycle regarding the project financing. The institutional scheme will regulate the position and roles for each related stakeholder that was involved in the HST project development

The Role of Technology in Building a Resilient City: Managing Natural Disasters

Catastrophic losses, as a result of natural disasters, have caused fatalities and destroyed urban areas. Therefore, there must be well-established approaches to planning an adaptation to climate change. Well-prepared urban plans, (re)development, operations, and maintenance after a natural disaster are necessary to build a resilient city. In coming decades, this will be essential for urban developmental policy. Climate change will have a serious impact on cities if it is not properly managed. Climate forecasting and modeling should be employed to identify the impacted developmental sectors, in order to reduce vulnerability, as well as to develop a robust infrastructure that is able to withstand future stress. The development of urban ecosystems and green infrastructure are necessary assets to build a sustainable and supple city. Rendering cities safe from disaster is a concern for all parties. Governments, the private sector, professionals, as well as citizens need to be engaged and contribute to building urban areas that can overcome natural disasters. Better policies and tools are required to anticipate these problems and to ensure urban development sustainability. Urban sustainability provides continual reasons to upgrade the public infrastructure, produce renewable energy, food, and water security, increase safety, and leads to urban renewal. The development of a strong city requires continual commitment and support from the government and engagement of the public in response to disaster mitigation and prevention. Participatory budgeting, monitoring, and planning are required to enable the allocation of funding, after identifying vulnerable urban areas. Citizen empowerment is crucial in mitigating disaster impact, including the ability to adapt to shocks and stresses, and to quickly respond to a changing environment. The choice of land and environment to build new urban developments and the enforcement of effective building codes is required. Although there are dedicated financial supports for such causes, the utilization of public-private partnerships can be employed to reduce further financial constraints. There are opportunities to involve the private sector. For instance, the government and private sectors could develop infrastructure in which the utilization of modern technology is employed, which results in savings of operational costs and better service. The Use of Technology in Mitigating Disaster The cities are required to update their public policies and urban development standards. By considering an urban area's economic, environmental, and social well-being, cities are expected to have better preparation for climate change. A contingency plan is required to anticipate unpredictable disasters, which involves an increase in capacity to manage natural disasters--particularly for shelter, food, water, and energy--the basic needs. Understanding disaster in its various dimensions, such as the vulnerability it exposes and its impact, is  necessary  to  implement  effective  policies and  practices  for disaster  management,  including appropriate preparedness and an effective response. The technology that is required encompasses disaster prediction, monitoring, mitigation, in addition to rescue operations and rehabilitation management.Information and Communication Technologies (ICTs) contribute a significant role in disaster prevention, mitigation, and management. ICTs can be utilized as tools to dispatch early warning information, as well as to track and communicate during emergency situations and post-disaster periods. Timely, predictable, and effective information is required by government agencies and stakeholders that are involved in rescue operations and decision-making processes. The technological advancement that employs urban development datasets (e.g., infrastructure, environmental area locators, weather and seismic wave predictors, and real-time monitoring) has enabled the construction of models to predict damages and fatalities, as well as identification of areas that can flourish from city redevelopment.For instance, Indonesia, and other countries, are prone to earthquakes, floods, and tsunamis, and therefore require resilient urban area and infrastructure development. The devastating 7.5 magnitude earthquake that was followed by a tsunami on Sulawesi Island in Indonesia last month demonstrates that quick responses from the government, disaster relief organizations, and the local and international community of Indonesia has enabled better stakeholder coordination with regards to mitigating the disaster impact. The use of different information and communication technologies, including satellite imagery through the Geographic Information Systems (GIS), radio and television, mobile networks, drones, the internet, and social media contributes to enhancing capacity and reducing vulnerability. Immediate information regarding damaged areas and the location of people who remain stranded, as well as emergency management to develop more targeted response plans, has been conducted with technological advancements. Learning from catastrophes around the world, there should be a greater emphasis on the development of novel technologies for disaster mitigation and further construction of stronger cities. Disaster preparedness and management is the only effective method of mitigating the impact of future catastrophes

Multi-Criteria Decision Making for Photovoltaic Alternatives: A Case Study in Hot Climate Country

Photovoltaic (PV) experiences significant growth and has installed in many locations worldwide over the past decades. However, selecting the best alternative of PV system remains a problem in developing countries which often involves both interest and multiple objectives and from stakeholders. This research aims to select ideal PV model in an isolated island in the eastern part of Indonesia. Multi-criteria decision making (MCDM) will provide an ideal solution that uses a systematic process of decision making. This research proposes an alternative concept of MCDM by taking into account best-worst method and VIKOR method. In general, the main purpose of the both methods are to obtain weights and rank alternatives with the advantages of less information required and produce a more consistent result compared to AHP method. The result shows the best alternative for PV installation, which offers the highest power and potentially developed not only for daily access to electricity but also to support economic activities such as tourism and aquaculture

The Fourth Industrial Revolution: Managing Technology Development for Competitiveness

We are in the midst of a fourth industrial revolution, in which technological advances in every aspect of our lives are being integrated. Industry 4.0 has evolved in response to developments in information and data technology. A shift in workplace culture has been highlighted by the Internet of Things (IoT) through the exponential growth of smart devices that connect all things, data, and services, with people. Entire value chains are interconnected by autonomous systems created by intelligent machine and data networks. The unification of effective projects, products, and services is dynamic, with the consequence that entire production systems–across and within companies, industries, and society–are being transformed. The value creation chain over the entire life cycle of products is interconnected, resulting in a fusion of physical and digital worlds. An isolated aspect of the production process is no longer being considered by industry personnel. Instead, integration is being applied from inception to product output, using services supported by new, advanced, and enhanced data collection technology. Technologies such as smart and intelligent machines, artificial intelligence, cyber production systems, and three-dimensional technology are increasingly being used to accelerate product or service competitiveness. The fourth industrial revolution is transforming the economic paradigm and mechanisms used to create value and generate benefits, i.e., efficiency, effectiveness, and customization, as well as quality and innovative products, projects, and services. The extensive utilization of technological advancements in many smart city sectors, a topical IoT-related development, has become the most effective way of improving quality of life. Technological breakthroughs impact on the way in which we live, work, and interact in the urban space. The integration of smart cities technologies is becoming more visible and enhancing the lived urban experience

Welcome to International Journal of Technology theme: Optimizing Product/Project Performance towards Sustainable Development

Editorial Note

Creating Sustainable Design and Technology Development: A Call for Innovation

Technology innovation plays a critical role in expediting transition to a sustainable mode of development and it becomes an important instrument to increase the flow of new ideas and next-generation products. Central to innovation management is the ability to produce worthy ideas for improvement. Creating and accessing idea generation in industrial innovation settings contribute to an essential step towards design and technology development. The acceleration of design and technology development is a key effort to gain product or project competitiveness advantages: producing improved products that draw on the latest technologies and service models. Designs and technologies evolve through different phases and need different approaches to speed them along – from creating ideas, producing new prototypes to product commercialization

Accelerating Sustainable Infrastructure Development: Assuring Well-Being and Ensuring Environmental Sustainability

The concept of sustainable development is conceived as a balance of sustainable economic growth and ecological regeneration. For the well-being of societies, technological innovation must contribute to developing a new model of sustainable social, economic, and environmental growth to make the system more sustainable. The challenge for any nation is continuing its economic growth and distributing welfare while ensuring environmental sustainability.Sustainable development requires institutional and values changes and cultural adjustments. Sustainable development must be incorporated into mainstream policies to promote national and international cooperation. In this context, sustainable development enables technology transfer and increased well-being

Stimulating Innovation and Creativity: The Way Forward

One of the most difficult challenges that companies face today is the rapidly changing market and its highly competitive environment. Those companies that are unable to adapt and correspondingly innovate face stiff competition. Continuing our discussion on innovation and technology development, my current note explains how stimulating innovation and creativity in technology development can be used by companies to remain competitive in the market and further produce innovative products and services that meet customer requirements. Companies and the market, in general, have benefited from technology-driven improvements, such as efficient and effective products and services that provide value for money. Companies must exploit their innovative capabilities by developing and using innovation programs and techniques. Innovation management starts with idea generation, so a theory of how to improve ideas (creativity) marks a contribution to this field