The mission of the Economics of the Sustainable Built Environment (ESBE) Lab, which I funded at Georgia Tech in fall 2009, is to develop the state-of-the-art financial models for enhancing efficient and effective investments in built environment assets. Avoiding under- or over-investment contributes directly to the objective of sustainable development, which aims to maximize future benefits considering the resources used. Examples of Research Initiatives are:
- Energy-efficient green buildings: Flexible Technologies and Systems for Green-Convertible Buildings. This project is a timely effort to extensively identify, model, and analyze flexibility in sustainable building design. Development of a flexibility identification framework will provide a novel approach for building designers and retrofitters to enhance the future utilization of renewable energy technologies, such as PV Systems, and facilitate the conversion of existing buildings to energy-efficient buildings.
- Transportation systems: Economic Analysis of Public-Private Partnership (PPP) Highway Projects under Traffic Uncertainty. Public-Private Partnerships (PPPs) have often failed primary due to the lack of proper financial analysis and inappropriate risk sharing mechanisms between public and private sectors. In this research program, we use the real option theory to evaluate the financial performance of PPPs under evolving tolled-road revenue uncertainty.
- Healthcare planning and design: Enhancing the Value of Healthcare Facilities by Flexible Design and Planning. Uncertainty about healthcare environment is considerably important for healthcare infrastructure planners and hospital designers. Incorporating appropriate flexible features in planning and design of healthcare facilities is an effective strategy to manage uncertainty about the healthcare environment.
Published Books and Parts of Books
(1) Ashuri, B., Rouse W.B., and Augenbroe G. (2007). “Different Models of Work in the Modern Services Enterprise.” Work, workflow, and information systems, IOS Press, Amsterdam, Netherlands.
Published Journal Papers (Refereed)
(2) Ashuri, B., Shahandashti, S.M., and Lu, J. (2012). “Empirical Tests for Identifying Leading Indicators of ENR Construction Cost Index.” Construction Management and Economics, 30(11), 917-927.
(3) Ashuri, B. and Tavakolan, M. (2012). “A Fuzzy Enabled Hybrid Genetic Algorithm‐Particle Swarm Optimization Approach to Solve Time‐Cost‐Resource Optimization (TCRO) Problems in Construction Project Planning.” ASCE Journal of Construction Engineering and Management, 138(9), 1065–1074.
(4) Ashuri, B., Kashani, H, Molenaar, K.R., Lee, S. and Lu, J. (2012). “A Risk-neutral Pricing Approach for Evaluating BOT Highway Projects with Government Minimum Revenue Guarantee Options.” ASCE Journal of Construction Engineering and Management, 138(4), 545-557.
(5) Ashuri, B., Lu, J., and Kashani, H. (2011). “A Real Options Framework to Evaluate Investments in Toll Road Projects Delivered under the Two-Phase Development Strategy.” Built Environment Project and Asset Management, 1(1), 14-31 (Highly Commended Award Winner at the Emerald Literati Network Awards for Excellence 2012).
(6) Ashuri, B. and Lu, J. (2010). “Time Series Analysis of ENR Construction Cost Index.” ASCE Journal of Construction Engineering and Management, 136(11), 1227-1237.
(7) Fard, J., Kangari, R., and Ashuri, B. (2010). “The Effects of Organizational Variables on Hospital Costs in Georgia.” International Journal of Facility Management, 1(2), 1-21.
(8) Ashuri, B. (2010). “Valuation of Flexible Leases for Corporate Tenants Facing Uncertainty in Their Required Workspace.” International Journal of Strategic Property Management, 14(1), 49-72.
(9) Durmus-pedini, A., and Ashuri, B. (2010). “An Overview of the Benefits and Risk Factors of Going Green in Existing Buildings.” International Journal of Facility Management, 1(1), 1-15.
(10) Ashuri, B., Rouse W.B., and Augenbroe G. (2007). “Different Models of Work in the Modern Services Enterprise.” Information - Knowledge - Systems Management, 6(1), 25-59.
(11) Mofid, M., Alizadegan R., Ashuri B., and Yavari A. (2001). “Computing the Kern of a General Cross-section.” Advances in Engineering Software, 32(12), 949-955.
Accepted for Publication
(12) Kim, D. Y., Han, S. H., and Ashuri, B. “Financial Valuation of Investments in International Construction Markets: A Real Options Approach for Market Entry Decision Making.” ASEC Journal of Management in Engineering (doi: http://dx.doi.org/10.1061/(ASCE)ME.1943-5479.0000152).
Recent Funded Projects
- Managing a Portfolio of Projects – Metrics for Improvement (Construction Industry Institute (CII))
- A Systematic Approach for the Assessment of Green Opportunities for Electrical Contractors (ELECTRI International – The Foundation for Electrical Construction)
- Best Practices for Determining Value of Research Results (The Southeast Transportation Consortium (STC) and the Louisiana Transportation Research Center (LTRC))
- Development of Risk Management Strategies for State DOTs to Effectively Deal with Volatile Prices of Transportation Construction Materials (Georgia Tech University Transportation Center (UTC), The US Department of Transportation/Research & Innovative Technology Administration, with the matching fund provided by the Georgia Department of Transportation)
- How Can Innovative Project Delivery Systems Improve GDOT’s Overall Efficiency in Transportation Project Delivery? (Georgia Department of Transportation)
- Timing of Investments in Building Solar Energy Intervention: A Real Options Framework to Evaluate Investments in Solar Energy for Buildings (Royal Institution of Chartered Surveyors, London, UK)
- Recommended Guide for Next Generation of Transportation Design Build Procurement and Contracting in the State of Georgia (Georgia Department of Transportation)
- AUMScore®, Multifamily Property Utility Benchmarking Program (American Utility Management (AUM), Inc.)
- Time Series Analysis of ENR Construction Cost Index (Royal Institution of Chartered Surveyors, London, UK)
- Presidential Undergraduate Research Award (PURA) at Georgia Tech
- Georgia Tech’s Undergraduate Research Award for the Best Poster, Spring 2010