Audience Focus: Advanced
Application Type: Research
Time/Room: WED 9:45-10:45/Harding
Abstract: In the past 5 years, economic crises have impacted growth in world’s leading economies. First, it was the global financial crisis in 2007; later there was the Euro Zone crisis; and now, recent empirical evidence suggests the Chinese economy is slowing down. Events in these crises have impacted growth propensities in the global construction industry. The overarching question this study seeks to answer is what is the relationship between construction GDP and other sectors in Australian economy? The study aim is to use secondary data to explore the correlations between change trend in construction economy, other sectors’ and the overall growth in Australian economy. Conclusions are drawn on immediate and remote impact of the economic crises on the construction industry. Recommendations reflect possible policy directions that are likely to reduce the impact of major economic crises on the construction industry. (OTH-1429) Personal Financial Management for Cost Professionals
Primary Author: Mr Mark T Chen PE CCE ISTN
Abstract: Cost professionals routinely apply relevant total cost management (TCM) tools and processes to ensure projects will meet established goals. These dedicated professionals work so hard to the extent of possibly overlooking their personal lives. In particular, it is an alarming situation that many cost professionals do not have plans to become financially independent. No project or program could be successful without a plan. How could these professionals have blind faith that their financial needs will be met without a realistic plan?
This paper provides thought-provoking ideas to motivate cost professionals to pay special attention to their personal financial management. Key concepts and tools will be shared to guide them to meet not only the current financial needs of their families or loved ones, but also at the time of their glorious and hard-earned retirement. A well-developed and realistic plan, executed with conviction using a systematic investment approach and risk management is essential. Becoming financially independent is a goal well within the reach of many cost professionals. (OTH-1439) (Presentation) Envisioning a Nation's Capital: L’Enfant’s Urban Design for Washington, DC
Primary Author: Dr Caren Yglesias Virginia Tech
Abstract: Washington, the District of Columbia, is not only our nation’s capital, but it is also one of the world’s few planned cities. President George Washington had Pierre Charles L’Enfant design a ‘Plan of the City intended for the Permanent Seat of the Government of the United States’ for the new capital city in 1791. His goal was to design a city that represented the highest ideals of the new nation exemplified in the name: United States of America. Today, Washington’s urban plan is known for its expansive avenues named for the nation’s states along with monuments and memorials located at key intersections. While many think the radiating pattern of avenues generated the proposed layout geometrically, actually L’Enfant examined the topography first and located fifteen public squares on the higher elevations designating each to a state in the union, with a few to spare. Avenues were then laid out connecting the squares and these links united the city visually. L’Enfant further proposed that the land around the squares be developed by each state in a manner that represented it, although speculators subverted this good intention. This presentation overlays eighteenth-century terrain maps with L’Enfant’s design to show how his concept demonstrated a new nation’s ideal of independent unity in a built reality, and explains how the final design that still controls Washington’s plan took shape.