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Critical Factors Affecting Construction Price Index: An Integrated Fuzzy Logic and Analytical Hierarchy Process. Journal of Asian Finance, Economics and Business, 7(8), 197-204. https://doi. org ...
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The ranks of factors affecting resale value of construction equipment as resulted from the analytical hierarchy process report using Expert Choice software is shown in Fig. 7. Relative importance indicates the most influencing factors on resale value for construction equipment.
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Economic and Political Uncertainties May Affect Growth of Construction Industry. While near-term growth in the global construction equipment industry is uncertain, infrastructure development and investments will drive the industry over the long term. The past year was a relatively strong one for much of the heavy equipment …
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The economy of India is fifth position in the world by nominal Gross Domestic Production (GDP) with share of global GDP of 7.74%. Large instability exists in an economic system, this instability ...
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4.3 Factors Affecting Job-Site Productivity. Job-site productivity is influenced by many factors which can be characterized either as labor characteristics, project work conditions or as non-productive activities. The labor characteristics include: age, skill and experience of workforce leadership and motivation of workforce
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Several factors influence plant and machinery valuations: Age and Condition: The age and overall condition of the machinery can significantly impact its value. Older machinery may have a lower value due to wear and tear, while machinery in good condition can retain a higher value. Market Demand: The current market demand for a specific type of ...
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The global construction equipment market size was valued at USD 142.39 billion in 2022 and is projected to grow from USD 151.60 billion in 2023 to USD 237.66 billion by 2030, exhibiting a CAGR of 6.6% during the forecast period of 2023-2030. The global market is growing due to an increase in public-private partnerships, rising …
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Equipment Technology Factors Construction productivity is influenced by different mechanisms of construction machinery. Following five factors are identified to characterize technology changes [1]. 2.5.1 Human energy amplification Amplification of human energy is technology designed to make an activity physically easier to carry out.
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Segmentation. Methodology. Infographics. Request Sample PDF. KEY MARKET INSIGHTS. Listen to Audio Version. The global construction equipment …
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Although many studies have been conducted to understand the causes of the cost overruns among different sectors during COVID-19, no study analyzed the factors affecting cost based on the size and type of construction sector. Therefore, this study aims to identify various challenges the construction industry faced during the pandemic …
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Construction Equipment plays a very important role in the performance of every operation in majorities of construction projects making it a very crucial part. Thus the objective of this research revolts around the technical and financial factors involved in the selection of construction equipment – in the post-Covid era.
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It is one of the five main resources of a construction project. Thus, effective construction equipment management contributes to the success of a project and benefits the relevant construction companies economically. This paper presents the critical risk factors affecting equipment management and proposes suitable solutions.
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These factors depend on the economic, political and social situation of each zone, which influence the price of the materials, labour and machinery prices. These include: The net monthly salary in the construction sector Influences the price of labour.
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prices on July 1 or announced increases effective in August or September. Since BLS collected prices for the June PPIs, retail diesel fuel prices increased a further 3%, or 9 …
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Inflation exerts a direct impact on the cost of construction materials, influencing both ongoing projects and bid prices. With construction materials typically accounting for 35% to 60% of overall construction costs, any increase in their prices can lead to reduced profit margins. Figure-1 illustrates the various factors influencing the cost of ...
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One of the key aspects of equipment management is understanding the different types of costs associated with construction equipment. These costs include not only the initial purchase price but also ongoing expenses such as maintenance, repairs, and fuel. ... and contribute to a more sustainable construction industry. Factors Affecting Equipment ...
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The performance of the construction industry can be improved by understanding the factors that affect the productivity of its equipment. A hypothetical framework was used to analyze six vital ...
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Many factors affect construction costs, but mainly building material prices, labour wages, machinery hire rates and consultation fees, which are directly affected by …
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Good, accurate and reasonable equipment rates play a critical part in three important aspects of construction management. First, they are used in estimating …
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1) The cost of the construction material. The price of construction includes the cost of raw materials, shipping, and taxes. However, the cost of all three elements may vary depending on the location of the project. Furthermore, the scope of the project is critical. For example, if the project is larger in scope, more raw materials are in …
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Project deadlines also affect the selection of the equipment. If there is limited time available to complete a project, then companies may prefer highly advanced construction equipment that can reduce a project's completion time significantly. 3. FACTORS THAT MOSTILY AFFECT THE CONSTRUCTION SITE DUE TO EQUIPMENTS 3.1.
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Factors of production is an economic term that describes the inputs that are used in the production of goods or services in order to make an economic profit. The factors of production include land ...
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Upfront Rental Fee. The most obvious cost involved in renting and operating heavy construction equipment is your daily, weekly or monthly rental fee. As we've seen, this figure can range from as low as $100 per day to as much as $3,500 per day or more, depending on the type of equipment you need to rent and from where.
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A significant topic in the building industry is the difference in construction material prices. Most of the country's projects, time, expense, and quality are negatively affected by this major issue, and its impact is also national. According to the latest study, costs that fluctuate unpredictably have negative effects on the construction industry.
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From the skyrocketing price of steel, lumber, and fuel to the significantly increased cost of skilled labor, the construction industry has been hit hard by the current inflationary environment. And as the insurance market …
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Heavy construction equipment is routinely used on construction projects that entail earthmoving operations. Owning and operating these machines may comprise a significant portion of the project costs.
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Keep in mind, though, that this figure, as the name implies, is only an estimation. It'll be dependent on various components, such as: the model and make of the machine itself. your own specific maintenance practices. the intensity of use. environmental factors, like temperature, humidity, dust, and corrosive materials.
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The research results show that the top five critical factors affecting the construction price index in Vietnam are (1) consumer price index, (2) gross domestic product, (3) basic interest rate, (4 ...
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3. Fuel Efficiency. Fuel is a big cost driver in any operation, so controlling its usage is always a priority. Savvy fleet managers understand that to contain fuel costs, you have to improve fuel efficiency. That means your equipment fleet must be able to do more work with every unit of fuel it burns. Higher quality products backed by dealers ...
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CBRE's new Construction Cost Index forecasts a 14.1% year-over-year increase in construction costs by year-end 2022 as labor and material costs continue to rise. Escalation should stabilize to the 2%-4% range in 2023 and 2024, on par with historical averages. Overall cost inflation for materials is expected to begin cooling by the end of …
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