Abstract: In spite of the advent of new materials, clay bricks
remain, arguably, the most popular construction materials today.
Nevertheless the low cost and versatility of clay bricks cannot always
be associated with high environmental and sustainable values,
especially in terms of raw material sources and manufacturing
processes. At the same time, the worldwide agricultural footprint is
fast growing, with vast agricultural land cultivation and active
expansion of the agro-based industry. The resulting large quantities of
agricultural wastes, unfortunately, are not always well managed or
utilised. These wastes can be recycled, such as by retrieving fibres
from disposed leaves and fruit bunches, and then incorporated in
brick-making. This way the clay bricks are made a 'greener' building
material and the discarded natural wastes can be reutilised, avoiding
otherwise wasteful landfill and harmful open incineration. This study
examined the physical and mechanical properties of clay bricks made
by adding two natural fibres to a clay-water mixture, with baked and
non-baked conditions. The fibres were sourced from pineapple leaves
(PF) and oil palm fruit bunch (OF), and added within the range of
0.25-0.75 %. Cement was added as a binder to the mixture at 5-15 %.
Although the two fibres had different effects on the bricks produced,
cement appeared to dominate the compressive strength. The
non-baked bricks disintegrated when submerged in water, while the
baked ones displayed cement-dependent characteristics in
water-absorption and density changes. Interestingly, further increase
in fibre content did not cause significant density decrease in both the
baked and non-baked bricks.
Abstract: This study proposes a materials procurement contracts
model to which the zero-cost collar option is applied for heading price
fluctuation risks in construction.The material contract model based on
the collar option that consists of the call option striking zone of the
construction company(the buyer) following the materials price
increase andthe put option striking zone of the material vendor(the
supplier) following a materials price decrease. This study first
determined the call option strike price Xc of the construction company
by a simple approach: it uses the predicted profit at the project starting
point and then determines the strike price of put option Xp that has an
identical option value, which completes the zero-cost material
contract.The analysis results indicate that the cost saving of the
construction company increased as Xc decreased. This was because the
critical level of the steel materials price increasewas set at a low level.
However, as Xc decreased, Xpof a put option that had an identical
option value gradually increased. Cost saving increased as Xc
decreased. However, as Xp gradually increased, the risk of loss from a
construction company increased as the steel materials price decreased.
Meanwhile, cost saving did not occur for the construction company,
because of volatility. This result originated in the zero-cost features of
the two-way contract of the collar option. In the case of the regular
one-way option, the transaction cost had to be subtracted from the cost
saving. The transaction cost originated from an option value that
fluctuated with the volatility. That is, the cost saving of the one-way
option was affected by the volatility. Meanwhile, even though the
collar option with zero transaction cost cut the connection between
volatility and cost saving, there was a risk of exercising the put option.
Abstract: Construction cost in India is increasing at around 50
per cent over the average inflation levels. It have registered increase
of up to 15 per cent every year, primarily due to cost of basic
building materials such as steel, cement, bricks, timber and other
inputs as well as cost of labour. As a result, the cost of construction
using conventional building materials and construction is becoming
beyond the affordable limits particularly for low-income groups of
population as well as a large cross section of the middle - income
groups. Therefore, there is a need to adopt cost-effective construction
methods either by up-gradation of traditional technologies using local
resources or applying modern construction materials and techniques
with efficient inputs leading to economic solutions. This has become
the most relevant aspect in the context of the large volume of housing
to be constructed in both rural and urban areas and the consideration
of limitations in the availability of resources such as building
materials and finance. This paper makes an overview of the housing
status in India and adoption of appropriate and cost effective
technologies in the country.