Abstract: An important feature of the exploitation of associated gas as fuel for gas turbine engines is a declining supply. So when exploiting this resource, the divestment of prime movers is very important as the fuel supply diminishes with time. This paper explores the influence of engine degradation on the timing of divestments. Hypothetical but realistic gas turbine engines were modelled with Turbomatch, the Cranfield University gas turbine performance simulation tool. The results were deployed in three degradation scenarios within the TERA (Techno-economic and environmental risk analysis) framework to develop economic models. An optimisation with Genetic Algorithms was carried out to maximize the economic benefit. The results show that degradation will have a significant impact. It will delay the divestment of power plants, while they are running less efficiently. Over a 20 year investment, a decrease of $0.11bn, $0.26bn and $0.45bn (billion US dollars) were observed for the three degradation scenarios as against the clean case.
Abstract: Tourism is the most viable and sustainable economic development option for Georgia and one of the main sources of foreign exchange earnings. Events are considered as one of the most effective ways to attract foreign visitors to the country, and, recently, the government of Georgia has begun investing in this sector very actively. This article stresses the necessity of research based economic policy in the tourism sector. In this regard, it is of paramount importance to measure the economic effects of the events which are subsidized by taxpayers’ money. The economic effect of events can be analyzed from two perspectives; financial perspective of the government and perspective of economic effects of the tourism administration. The article emphasizes more realistic and all-inclusive focus of the economic effect analysis of the tourism administration as it concentrates on the income of residents and local businesses, part of which generate tax revenues for the government. The public would like to know what the economic returns to investment are. In this article, the methodology used to describe the economic effects of UEFA Super Cup held in Tbilisi, will help to answer this question. Methodology is based on three main principles and covers three stages. Using the suggested methodology article estimates the direct economic effect of UEFA Super cup on Georgian economy. Although the attempt to make an economic effect analysis of the event was successful in Georgia, some obstacles and insufficiencies were identified during the survey. The article offers several recommendations that will help to refine methodology and improve the accuracy of the data. Furthermore, it is very important to receive the correct standard of measurement of events in Georgia. In this caseü non-ethical acts of measurement which are widely utilized by different research companies will not trigger others to show overestimated effects. It is worth mentioning that to author’s best knowledge, this is the first attempt to measure the economic effect of an event held in Georgia.
Abstract: This exploratory study gives an overview of the
evolution of the main financial and performance indicators of the
Academic Spin-Off’s and High Growth Academic Spin-Off’s in year
3 and year 6 after its creation in the region of Catalonia in Spain. The
study compares and evaluates results of these different measures of
performance and the degree of success of these companies for each
University.
We found that the average Catalonian Academic Spin-Off is small
and have not achieved the sustainability stage at year 6. On the
contrary, a small group of High Growth Academic Spin-Off’s
exhibits robust performance with high profits in year 6. Our results
support the need to increase selectivity and support for these
companies especially near year 3, because are the ones that will bring
wealth and employment. University role as an investor has rigid
norms and habits that impede an efficient economic return from their
ASO investment.
Universities with high performance on sales and employment in
year 3 not always could sustain this growth in year 6 because their
ASO’s are not profitable. On the contrary, profitable ASO exhibit
superior performance in all measurement indicators in year 6. We
advocate the need of a balanced growth (with profits) as a way to
obtain subsequent continuous growth.
Abstract: While to minimize the overall project cost is always
one of the objectives of construction managers, to obtain the
maximum economic return is definitely one the ultimate goals of the
project investors. As there is a trade-off relationship between the
project time and cost, and the project delivery time directly affects the
timing of economic recovery of an investment project, to provide a
method that can quantify the relationship between the project delivery
time and cost, and identify the optimal delivery time to maximize
economic return has always been the focus of researchers and
industrial practitioners. Using genetic algorithms, this study
introduces an optimization model that can quantify the relationship
between the project delivery time and cost and furthermore, determine
the optimal delivery time to maximize the economic return of the
project. The results provide objective quantification for accurately
evaluating the project delivery time and cost, and facilitate the
analysis of the economic return of a project.
Abstract: UK breweries generate extensive by products in the
form of spent grain, slurry and yeast. Much of the spent grain is
produced by large breweries and processed in bulk for animal feed.
Spent brewery grains contain up to 20% protein dry weight and up to
60% fiber and are useful additions to animal feed. Bulk processing is
economic and allows spent grain to be sold so providing an income
to the brewery. A proportion of spent grain, however, is produced by
small local breweries and is more variably distributed to farms or
other users using intermittent collection methods. Such use is much
less economic and may incur losses if not carefully assessed for
transport costs. This study reports an economic returns of using wet
brewery spent grain (WBSG) in animal feed using the Co-product
Optimizer Decision Evaluator model (Cattle CODE) developed by
the University of Nebraska to predict performance and economic
returns when byproducts are fed to finishing cattle. The results
indicated that distance from brewery to farm had a significantly
greater effect on the economics of use of small brewery spent grain
and that alternative uses than cattle feed may be important to
develop.
Abstract: In conventional seedling production, the seedlings are
being grown in the open field under natural conditions. Here they are
susceptible to sudden changes in climate were their quality and yield
is affected. Quality seedlings are essential for good growth and
performance of crops in main field; they serve as a foundation for the
economic returns to the farmer. Producing quality seedling demands
usage of hybrid seeds as they have the ability to result in better yield,
greater uniformity, improved color, disease resistance, and so forth.
Hybrid seed production poses major operational challenge and its
seed use efficiency plays an important role. Thus in order to
overcome the difficulties currently present in conventional seedling
production and to efficiently use hybrid seeds, ITC Limited Agri
Business Divisions - Sustainability Cell as conceptualized a novel
method of seedling production unit for farmers in West Godavari
District of Andhra Pradesh. The “Green House based Float Seedling"
methodology aims at a protected cultivation technique wherein the
micro climate surrounding the plant/seedling body is controlled
partially or fully as per the requirement of the species. This paper
reports on the techno economic evaluation of green house for
cultivation of float based seedling production with experimental
results that was attained from the pilot implementation in West
Godavari District, Rajahmundry region of India.
Abstract: With the development of technology, the growing
trend of fast and safe passenger transport, air pollution, traffic
congestion, increase in problems such as the increasing population
and the high cost of private vehicle usage made many cities around
the world with a population of more or less, start to build rail systems
as a means of urban transport in order to ensure the economic and
environmental sustainability and more efficient use of land in the
city. The implementation phase of rail systems costs much more than
other public transport systems. However, social and economic returns
in the long term made these systems the most popular investment tool
for planned and developing cities.
In our country, the purpose, goals and policies of transportation
plans are away from integrity, and the problems are not clearly
detected. Also, not defined and incomplete assessment of
transportation systems and insufficient financial analysis are the most
important cause of failure. Rail systems and other transportation
systems to be addressed as a whole is seen as the main factor in
increasing efficiency in applications that are not integrated yet in our
country to come to this point has led to the problem.