Cost Budget Research Articles

Approximation Scheme for the Single-Client Capacitated Facility Location Problem With Operational Cost Budget Constraint

Approximation Scheme for the Single-Client Capacitated Facility Location Problem With Operational Cost Budget Constraint

DDQN-based online computation offloading and application caching for dynamic edge computing service management

Multi-access Edge Computing (MEC) reduces task service latency and energy consumption by offloading computing tasks to MEC servers. However, constrained by the limited bandwidth and computing resources, MEC servers often cannot parallelly process all computing tasks. Simultaneously, the high dynamism of service popularity necessitates MEC servers to dynamically update cached applications, under ensuring compliance with storage resource constraints and the system cache updating cost budget for service providers. In response to the above two issues, this paper firstly formulates computation offloading and application caching as a dual-timescale decision optimization problem, aiming to minimize the average service latency for users by obtaining optimal offloading decision, cache decision, transmission bandwidth, and computing resource. Then, we propose a Deep Reinforcement Learning (DRL)-based two-stage online computation offloading and application caching (DTSO2C) algorithm, effectively stabilizing application cache update costs and enhancing Quality of Service (QoS) for users. Furthermore, we utilize convex optimization algorithms to derive the optimal communication bandwidth and computing resource allocation strategy, further reducing the average service latency for users. Simulation results demonstrate that the DTSO2C algorithm outperforms the compared algorithms, achieving an average reduction in service latency of 66.2%, with an average cache update cost of only 0.15 USD per time frame.

Development and implementation of cost control strategies in oil and gas engineering projects

This review delves into the development and implementation of cost control strategies in oil and gas engineering projects, an area critical for maintaining project viability and profitability amidst fluctuating market conditions. Effective cost control is essential in the oil and gas sector, where projects are often capital-intensive and subject to economic and operational uncertainties. This review examines various cost control methodologies and their application throughout the project lifecycle, from initial planning and budgeting to execution and closure. The paper highlights key cost control strategies, including detailed project cost estimation, budget forecasting, and variance analysis. It discusses the use of advanced project management tools and technologies, such as software for real-time cost tracking and predictive analytics, which enhance decision-making and financial oversight. The review also covers the importance of risk management practices in identifying and mitigating potential cost overruns, emphasizing the role of contingency planning and risk assessment in maintaining financial control. Case studies demonstrate how successful implementation of these strategies can lead to significant cost savings, improved project efficiency, and enhanced financial performance. The challenges associated with cost control, including dealing with unexpected price fluctuations, scope changes, and regulatory compliance issues, are also addressed. Solutions to these challenges, such as adopting flexible budgeting techniques and leveraging data-driven insights, are discussed. The review concludes with recommendations for refining cost control practices in oil and gas engineering projects, including the need for continuous monitoring and adjustment of cost control measures, integrating cost management with overall project strategy, and fostering collaboration among project stakeholders to ensure alignment and accountability.

Post-project financial auditing as a continuous improvement tool for SMEs

Post-project financial auditing is a critical tool for ensuring transparency, accountability, and financial accuracy within small and medium-sized enterprises (SMEs). As SMEs navigate project-based operations, it is essential to assess the financial outcomes of completed projects to inform future decision-making and resource allocation. This review explores the role of post-project financial auditing as a continuous improvement tool in SMEs, highlighting its ability to enhance financial discipline, improve cost control, and promote long-term financial sustainability. By examining key aspects of project revenues, expenditures, and profitability, post-project financial audits provide insights into financial performance that are essential for strategic planning. These audits help identify budget deviations, resource misallocations, and cost inefficiencies, enabling SMEs to adjust future financial planning and project management practices. In doing so, audits contribute to refining budgeting processes, promoting data-driven decision-making, and reducing financial risks in subsequent projects. The review also emphasizes the benefits of post-project auditing in fostering a culture of financial responsibility within SMEs. Through the audit process, SMEs can strengthen internal controls, monitor compliance with financial regulations, and ensure that project outcomes align with organizational financial goals. Additionally, the integration of audit findings into future financial strategies enables SMEs to continuously improve their profitability, mitigate risks, and enhance overall financial stability. Despite the clear advantages, challenges such as resource constraints, data management issues, and limited audit expertise can hinder the adoption of post-project audits in SMEs. The review offers practical recommendations to address these challenges, advocating for the use of scalable audit frameworks, digital tools, and ongoing staff training to support effective auditing practices. Ultimately, post-project financial auditing represents a vital mechanism for driving continuous improvement and ensuring the financial resilience of SMEs in an increasingly competitive marketplace.

Analysis of Cost and Time Using Earned Value on the Boarding School Construction Project at SMA Muhammadiyah 3 Tulangan Sidoarjo

Effective project management is crucial for the successful completion of construction projects, including the construction of a dormitory at SMA Muhammadiyah 3 Tulangan. Challenges such as design changes, adverse weather conditions, and limited labor resources impact the project's progress. The Earned Value Method is used to monitor project performance by analyzing indicators like BCWS, BCWP, ACWP, SV, CV, SPI, and CPI. This analysis shows that the project initially experienced delays and exceeded budget costs, but the situation improved significantly over time. Despite weekly variations in costs, the project remained on a financially manageable track. The conclusion from this analysis is that while the project faced time delays, cost performance remained under control. Recommendations for improvement include more thorough planning, better resource management, and quicker responses to changes.

Single-vendor single-buyer multi-product economic production quantity problem with stochastic constraints: a modified generalized elimination method

This study designs a single-buyer single-vendor multi-product Economic Production Quantity (EPQ) model to optimize the total cost in an inventory system. To do so, a Non-Linear Programming (NLP) model is developed considering a set of stochastic constraints on space or warehouse capacity, backordering cost, procurement, ordering, and obtainable budget. A modified Generalized Elimination Method (GEM) is then offered to treat the complexity of the model wherein the variables are eliminated by adding two equations. The developed method generates much more high-quality solutions compared with the classic GEM, while the number of iterations slightly increases. Three problem instances in different scales are then taken into account to assess the efficiency of the modified GEM in terms of optimality criteria. The results demonstrate that the modified GEM has an excellent performance with respect to optimal solutions, infeasibility, number of iterations, complementarity, and errors of optimality. Finally, the behavior of the objective function is analyzed against order quantity fluctuations to draw out practical implications.

Case Studies and Parametric Analysis of Heliostat Performance with a Tradeoff-informed Technoeconomic Analysis Metric

Abstract The Heliostat Consortium (HelioCon) was launched in 2021 to advance heliostat technology. This work presents a collection of baseline case studies for the technoeconomic analysis (TEA) of candidate heliostat improvements for concentrating solar power (CSP) and concentrated solar thermal (CST) systems that employ central receivers. The case studies we develop include a large-scale CSP plant, a smaller, modular CSP plant, and a small CST plant used for industrial process heat. In this work, we propose a novel metric for TEA of a plant component technology that recasts relative changes in levelized system costs into component-specific capital cost budgets. This measure, which we refer to as the equivalent breakeven installed cost, is the maximum budget for the technology component that leads to improved levelized costs. Finally, we perform a parametric analysis to show the impact of candidate technologies on levelized cost of heat and, by extension, equivalent breakeven installed cost.

An Economic Cost Analysis of Implementing a Frailty Care Bundle to Reduce Risk of Hospital Associated Decline Among Older Patients.

To conduct an economic cost analysis and budget impact assessment (BIA) of implementing the Frailty Care Bundle (FCB) intervention nationally over five-years for hip fracture patients. The FCB was designed to reduce hospital associated decline in older hospitalised patients. The FCB was delivered in two Irish hospitals on two wards per hospital. A micro level cost analysis, from the Irish health service perspective was undertaken. Direct costs of the FCB were considered (personnel, training, resources), expressed in Euros (2020). For the BIA national population estimates for hip fracture and costs avoided were based on 18% difference in patients returning to their baseline capability in the post compared to pre-intervention group, valued using cost estimates of functional decline. We estimated total intervention costs at €53,619 (89% for personnel) and the average cost per patient was €156.03. The expected costs of implementing the FCB nationally over 12-months was €57,274 per hospital (€72.92 per patient). The BIA for an expected targeted population (16,000 over 5 years), estimated that the cost of implementing the FCB (€1.2m) was less than the expected value of functional decline avoided owing to the intervention (€3.6m), suggesting a positive net effect (€2.4m). Investment in the FCB can be offset with more rapid patient return to baseline functional capability, reducing health care costs. Trial and Protocol Registration (retrospective): BMC ISRCTN 15145850, (https://doi.org/10.1186/ISRCTN15145850).

Capital Budgeting Methods and Practices: Evidence from Privately Owned Firms in Pakistan

The aim of this research paper is to study the degree of using capital budgeting methods on choosing the appropriate project for investment by privately owned firms in Pakistan. We surveyed 58 chief executive officers (CEOs) of privately owned firms. Our survey contained fifteen questions to explore capital budgeting and cost of capital. The study covers the period from September, 2018 to May, 2019. Firms rely heavily on IRR as a project evaluation method. According to cost of capital methods, average historical rate of return on common stock is mostly used by the firms. The regression test showed significant relationship between firm characteristics with respective to the use of capital budgeting techniques and cost of capital methods.

Nice to value. Unraveling the nexus between management accounting use and financial performance: A quantitative study of SMEs

ABSTRACT This study investigates the intricate relationship between management accounting (MA) practices and financial performance (FP) in small and medium-sized enterprises (SMEs) in Italy and Germany, offering practical insights for practitioners and policy makers. Despite the theoretical benefits of MA practices like cost accounting, budgeting, and key performance indicators, their implementation in SMEs remains limited. Prior research suggests that SMEs often rely on informal control systems due to resource constraints and a lack of familiarity with MA tools. The COVID-19 pandemic and recent European conflicts have stressed the need for robust MA practices to navigate economic volatility and enhance resilience. Using a quantitative approach, data were collected via questionnaires from 238 SMEs in Italy and Germany, targeting chief financial officers, board members, and majority shareholders. The analysis, employing partial least squares structural equation modeling, reveals a significant positive impact of MA practices on FP. Factors such as resource availability, training, and the culture of control play crucial roles in this relationship. These findings underscore the strategic importance of MA in driving organizational performance and highlight the need for SMEs to adopt these practices more comprehensively. This study offers valuable guidance for SME managers in enhancing operational efficiency and strategic decision making. Moreover, it provides policy makers with evidence-based recommendations to support SME growth and resilience through targeted training programs and resource allocation, ensuring a robust framework for economic stability and development.

Analysis of the Cost of Footplate Foundation Work in the Construction of the Exit Gate and Cafeteria of Delta Surya Hospital, Sidoarjo District, Sidoarjo Regency

Cost is the main factor in a stage of a construction project that concerns the provision of funds that must be prepared by the project owner. Cost budgets have a crucial role in project implementation so they need to be taken into account to achieve efficiency and effectiveness in project implementation. In the cost analysis, a calculation of the unit price of wages, labor, materials and technical details of the work in detail has been determined for the planning of the total cost. The implementation of the construction of the Exit Gate and Cafeteria of Delta Surya Hospital is divided into several works, starting from preparatory work to finishing. Among these types of work, one of them is footplate foundation work which is further divided into sub-work or job description, namely excavation work, formwork work, ironing work, and casting work. Every work in a project requires cost planning or a Cost Budget Plan (RAB) with high precision to determine the amount of funds that must be provided in the work of a project to avoid losses for the parties involved. The discussion of this article will focus on cost analysis in the preparation of RAB which contains details of the cost of materials or materials, labor, equipment and overhead costs and a recapitulation of all costs for footplate foundation work by PT. Muliif Teknika Utama as a contractor from the description of the activity from the beginning to the end.

A Budget Impact Analysis of Adalimumab Biosimilars; The Albanian Context

Adalimumab is used to treat various autoimmune conditions, such as rheumatoid arthritis, ankylosing spondylitis, psoriasis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis. Adalimumab is a tumor necrosis factor (TNF) inhibitor. Adalimumab biosimilars have the potential to reduce costs for the healthcare system. The aim of the study is to develop a drug budget impact analysis to assess the potential financial impact of the availability of the biosimilar adalimumab-aacf in terms of cost savings due to its lower price compared to adalimumab-adaz. Methods: This is a budget impact analysis and cost calculator model in Microsoft Excel based on FDSKSH’s data for 2023. Results: Adalimumab biosimilars accounted for approximately 25% of biologic drug prescriptions in 2023. The reimbursement cost of biologic drugs for autoimmune diseases was ALL 186,523,409 in 2023 (1 ALL = 0.01 USD). Of that cost, 15.21% accounted for treatment with adalimumab biosimilars. Adalimumab-aacf was available at a 15.82% lower price than adalimumab–adaz. The analysis indicated that the replacement of the biosimilar adalimumab-adaz with the biosimilar adalimumab-aacf could have resulted in cost savings of ALL 968,138, and the reimbursement cost of biologic drugs for autoimmune diseases could have been 3% lower. With the potential cost savings, two more patients could have had access to biologic drugs in 2023. Conclusions: The Drug Budget Impact Analysis estimated that the availability of adalimumab-aacf would be more profitable in terms of cost savings compared to adalimumab-adaz. The scenario could result in increased treatment access for patients.

Budget impact and cost per responder analysis of upadacitinib for the treatment of moderate to severe atopic dermatitis from the perspective of the social security and the private sector in Argentina

ABSTRACT Objectives Our study assessed the budget impact and cost per responder of upadacitinib15mg and 30 mg for moderate to severe atopic dermatitis (MS-AD) treatment from social security and private health sector perspective in Argentina. Methods A budget impact model was adapted to depict clinical and economic aspects of treatment over a 5-years horizon time. Scenario analyses and deterministic sensitivity analyses were performed. A 16-weeks cost per responder model was adapted based on a network meta-analysis. Primary analyses assessed the cost per Eczema Area and Severity Index 50, 75 and 90 at week 16. Results The inclusion of upadacitinib 15 mg and 30 mg in the biological treatment mix for MS-AD was associated with an average budget saving per-member per-month ofU$S0.062 (social security) and U$S0.064 (private sector). Percentage of patients with access to treatment, acquisition cost of upadacitinib 30 mg and prevalence of MS-AD were the most influential parameters in the budget impact results. At week 16, upadacitinib 30 mg was associated with the lowest number needed to treat and the lowest cost per responder for all outcomes. Conclusion The introduction of upadacitinib in MS-AD treatment was associated with modest savings for the social security and private payer budget in Argentina.

Policies and cost analyses of voluntary assisted dying (VAD) laws – a mapping review & analysis

ObjectivesTo investigate the current literature on healthcare policies and cost analyses around international Voluntary Assisted Dying (VAD) laws. The study design is a mapping literature review following Preferred-Reporting-Items-for-Systematic-Reviews-and-Meta-Analyses (PRISMA) guidelines.MethodsOriginal research articles published between January 1990 to March 2023, investigating the financial cost and healthcare budget effect of VAD laws internationally. Citations were screened for relevance and eligibility, and any non-full-text research that did not explore cost analysis was excluded. The following data sources were screened: MEDLINE, PubMed, EMBASE, CINAHL and any relevant international health authority annual reports were also reviewed.ResultsOf the 2790 screened articles, eight studies met the inclusion criteria and three were included in the mapping review. The reviewed studies included prospective studies, two Canadian and one US. Only one of the Canadian studies provided a cost analysis using data from current VAD laws. All three studies showed VAD laws would reduce healthcare spending, with the US approximating $627million in 1995. Canada approximating $17.1 to $77.1million in 2017 and $86.9 to $149.0million in 2021, overall, leading to an average percentage reduction in costs of approximately 87% compared to original costs of end-of-life care.ConclusionThis review identifies a scarcity in cost-analysis literature and provides a summary of the latest international VAD laws, from which a potential cost reduction is apparent. The absence of retrospectively collated financial VAD data highlights a need for future research to inform policymakers of the economic factors affecting current policies with a need for annual fiscal reports and to optimise future legislative frameworks internationally.

Analysis of Conflict of Interest Discourse on Online Fundraising Platforms Protect the Forest

Ecology has become one of the main global issues today due to the worsening climate crisis around the world. LindungiHutan as the largest fundraising platform focusing on forest and environmental conservation in Indonesia can commercialise ecological issues through its digital means. This research aims to find out the conflict-of-interest discourse on LindungiHutan's online fundraising platform. The research was conducted qualitatively using the methods of text discourse analysis, social cognition, and social context. The results showed that LindungiHutan has commodified ecology through the nature campaign programme, collaboratree, corporatree, corporate social responsibility. LindungiHutan has collaborated with several companies that have contributed to the destruction of forests and the environment: MayBank, Mondelez International, DBS Bank, BCA Bank, PT Santos Jaya Abadi. LindungiHutan provides tree purchase packages divided into basic and additional services. LindungiHutan keeps the cost budget details and accountability report of each nature campaign confidential. The commodification of forests and the environment can also be seen from the establishment of a 5% administration fee policy for every fundraising campaign conducted by LindungiHutan.

Convergent least-squares optimization methods for variational data assimilation

Data assimilation combines prior (or background) information with observations to estimate the initial state of a dynamical system over a given time-window. A common application is in numerical weather prediction where a previous forecast and atmospheric observations are used to obtain the initial conditions for a numerical weather forecast. In four-dimensional variational data assimilation (4D-Var), the problem is formulated as a nonlinear least-squares problem, usually solved using a variant of the classical Gauss-Newton (GN) method. However, we show that GN may not converge if poorly initialized. In particular, we show that this may occur when there is greater uncertainty in the background information compared to the observations, or when a long time-window is used in 4D-Var allowing more observations. The difficulties GN encounters may lead to inaccurate initial state conditions for subsequent forecasts. To overcome this, we apply two convergent GN variants (line search and regularization) to the long time-window 4D-Var problem and investigate the cases where they locate a more accurate estimate compared to GN within a given budget of computational time and cost. We show that these methods are able to improve the estimate of the initial state, which may lead to a more accurate forecast. Highlights Poor initialization of Gauss-Newton method may result in failure to converge. Safeguarded Gauss-Newton improves initial state estimate within limited time/cost. Results using twin experiments with long time-window and chaotic Lorenz models. Apply state of the art least-squares convergence theory to data assimilation. Improvements to initial state estimate may lead to a more accurate forecast.

Discussion on Cost Budgeting and Cost Control Strategies for Prefabricated Construction Projects

Discussion on Cost Budgeting and Cost Control Strategies for Prefabricated Construction Projects

Analisis Anggaran Biaya Produksi dalam Menunjang Efektivitas Pengendalian Biaya Produksi untuk Meningkatkan Laba

It is important for companies to calculate production cost budgets in order to increase a company's profits. Researchers conducted research on CV. GTT Kediri by calculating the production cost budget. The researcher aims to find out how production cost budget analysis supports the effectiveness of controlling production costs to increase profits. In this research, researchers used quantitative descriptive research. The data sources used in this research are interviews and documentation as well as the analysis techniques used, namely calculating the production cost budget, calculating the effectiveness of production costs, calculating the cost of production, and comparing profit and loss report data from the company with research results. The result of this research is that by calculating the production cost budget, it proves that production costs can be said to be effective because the results are above 90%. Calculating the production cost budget is able to increase company profits, the company's net profit data for 2022 is IDR 767,264,000. then the net profit results from the research without using the 2023 production cost budget calculation were IDR 892,934,000 and the profit and loss results from research using the 2023 production cost budget calculation were IDR 901,705,000.

Perencanaan Sumber Daya Material pada Pekerjaan Arsitektur dengan Material Requerement Planning (MRP) pada Proyek Gedung Bertingkat

Construction in Indonesia is one of the government's top priorities in an effort to improve the welfare of the society. Construction planning must be carefully planned in order to achieve efficiency in project implementation, in terms of time and cost. A construction project requires planning and controlling material inventory. The purpose of material planning and control is so that construction projects can run smoothly, effectively and efficiently. Material planning and control can be analyzed using the material requirements planning (MRP) method. In this study, using economic order quantity (EOQ) and period order quantity (POQ) techniques. Cost budget design data, s-curves, work unit price analysis, and work progress reports are the data components to be processed. The results showed the cost of procurement of materials needed with the EOQ technique, namely: purchase cost of IDR 8,466,623,718.49, ordering cost of IDR 1,598,050.00, and storage cost of IDR 8,942,979.62. The total cost required is IDR 8,477,164,748.11. Furthermore, for the POQ technique, namely: purchase cost of IDR 8,466,623,718.49, ordering cost of IDR 1,598,050.00 and storage cost of IDR 9,674,554.05. The total cost required is IDR 8,477,896,322.53 Comparison of the costs required from the EOQ and POQ techniques can be concluded that Material Requirement Planning (MRP) using the Economic Order Quality (EOQ) technique is less costly than the Period Order Quantity (POQ) technique. Material procurement using Economic Order Quality (EOQ) is more effective. This is because the EOQ technique requires less costly / economic procurement compared to the POQ technique. In addition, with the application of the EOQ technique, there is a clearer material ordering schedule and the amount of material ordered is in accordance with the needs so that the material storage is not too much.

Operational Cost Budget Optimization Analysis to Improve Efficiency of PT Citra Robin Sarana

The aim of the study is to assess the company's ability to optimize the operating cost estimates with the data for the period 2021-2023. A quantitative approach with multi-objective analysis is used, collecting data through interviews and analysis of administrative and financial data. The data used are secondary data from annual financial reports and data of operational costs as well as financial production data of the company. The results of the research showed the difference between the cost of budget and the costs of operational realization of the company: Rs. -161.525.511 in 2021, Rs. 1.530.471.758 in 2022, and Rs. 706.742.283 in 2023. Despite an increase from 2022 to 2023, operating costs are still not optimal. Efforts to optimize risk management have been seen, but have not achieved the expected results.