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Faculty of Accounting and Informatics

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Start date: 2022Subject: search.filters.subject.Cost effectiveness

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Now showing 1 - 3 of 3
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    Bio-inspired optimisation of a new cost model for minimising labour costs in computer networking infrastructure
    (2024) Nketsiah, Richard Nana; Millham, Richard Charles; Agbehadji, Israel Edem
    This thesis revolves around the bio-inspired optimisation of a newly formulated cost model tailored for initial installation of a user-specified computer networking infrastructure, motivated by requirements of networking industries, with a focal point on minimising labour costs. The new cost function of this infrastructure installation incorporates essential decision variables related to labour, encompassing the daily requirements and costs of both skilled and unskilled workers, their respective hourly rates, installation hours, and the overall project duration. This deliberate emphasis on labour-centric factors aim to offer nuanced insights into the intricacies of project budgeting and resource allocation. The research critically evaluates the effectiveness of the cost function by examining various factors, such as daily fixed costs, a size and complexity factor tailored to individual scenarios, and a penalty coefficient aimed at ensuring compliance with project schedules. Significantly, the deliberate exclusion of equipment, material, maintenance and operational costs underscores the focused examination of labour-related expenditures, providing a unique contribution to the optimisation landscape within the installation of the user-specified computer networking infrastructure projects. Utilising advanced bio-inspired optimisation techniques, alongside real-world data, this study endeavours to gauge the effectiveness of the new cost model in minimising labour expenses while upholding optimal network performance. The anticipated outcomes of this study extend beyond theoretical contexts to practical implications, providing actionable insights and recommendations for network infrastructure planners. The significance of labour-centric considerations in project planning and design is underscored, providing a more encompassing perspective that aligns with the evolving landscape of modern technological infrastructures. By giving attention to labour-intensive aspects within installation of computer networking infrastructure projects, the thesis aspires to enhance budgeting accuracy and streamline resource allocation processes, thereby fostering more efficient and cost-effective project outcomes.
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    Cost control and operational performance at eThekwini human settlement unit
    (2024) Jwara, Msawenkosi Cedric; Marimuthu, Ferina; Nzuza, Zwelihle Wiseman
    Government municipalities have encountered notable challenges due to their inability to undergo necessary revitalisation and keep pace with the ongoing modernisation of the contemporary business environment. Within South African municipalities, prevailing cost accounting methods exhibit a lack of alignment with contemporary advancements in cost management. This misalignment has resulted in delays in delivering vital community services due to an insufficient grasp of strategic resource cost control. Consequently, there arises a distinct imperative to undertake an inquiry into the practical cost control techniques employed, the determinative factors influencing cost controls and the resultant effectiveness of such controls in improving operational performance of the eThekwini Human Settlement Unit (HSU). This study aims to identify the role of cost controls in improving the eThekwini HSU's operational performance. Specific objectives include investigating cost control techniques, factors influencing cost controls, and their effectiveness. Employing a quantitative approach, this study used a questionnaire instrument with closed-ended questions to gather data from 44 purposefully selected HSU employees. Data analysis involved descriptive and inferential statistics using SPSS (version 27®), ensuring reliability and validity. Ethical considerations were observed throughout the research process. The investigation revealed that the eThekwini HSU implements an array of strategies encompassing budgetary frameworks, audit techniques, cost estimation and cost analysis tools in its pursuit of cost containment. Conversely, negative factors of cost control were identified, prominently including challenges rooted in deficient communication, a lack of administrative accountability and socio-political influences. In the context of perceptions, a notable agreement emerged amongst the surveyed personnel, showing the effectiveness of established cost control mechanisms. Based on the findings derived from this study, it is recommended that the eThekwini HSU take proactive measures to address the identified challenges in cost control. This research contributes to the adoption of modern cost control techniques in the eThekwini HSU and, by extension, other municipalities. Improved cost management processes enhance service delivery and benefit citizens by ensuring efficient resource allocation.
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    The impact of standard cost as a cost control tool in the automobile industry in Durban, KwaZulu-Natal, South Africa
    (2022-05-13) Aberdeen, Anneen Irene; Olarewaju, Odunayo Magret
    Standard cost variance analysis is a recognized expenditure control technique that has been used as part of firm’s accounting function over the years. Nevertheless, there have been wide debates about its functionality in the current era. The research problem was framed around the relevance, functionality and viability of standard cost. The objectives focused on the relevance and effectiveness of standard cost as budget control tool in the automobile industry in Durban, Kwazulu-Natal, South Africa. The research questions tapered towards the critical factors affecting the relevance and effectiveness of standard cost analysis as well as its contribution to cost management and this profitability of automotive firms in Durban, South Africa, in 2021. While, the study found mixed opinions on applicability of standard cost to extant automotive firms in some regions of the global economy, there is an inclination towards its effectiveness in some automobile firms Durban, Kwazulu-Natal, South Africa. Content analysis method was employed in the study considering its suitability for social science work and also the qualitative nature of the data collected. Cost management was found to be a source of profitability and thus competitive advantage for a number of the automotive firms surveyed. For instance, managing cost by diversifying supplier base served as a robust source of cost management, through which considerable information regarding domestic macroeconomic and international automotive market condition were gleaned. Standard cost variance analysis was described by some respondents as being relevant for the automotive sector in the geographic scope of the research, under differing conditions. As for instance, being more unsuitable for variable cost over foxed cost functions, in addition to mixed responses to strategies employed in standard cost technique adoption. Furthermore, some firms indicated that they combined balanced scorecard with standard cost method, while others did not use standard cost with any additional management tool. A few firms stated the viability of this tool for periodic forecasting which improves cost management, while others operating certain business models including retail and warranty-base firms indicated its unsuitability. Customer budgets and quality specification was found as effective in cost management. Other firms stated that operating without standard cost would culminate in bankruptcy. External considerations such as fluctuating macroeconomic outcomes of exchange rates and high shipping costs affected the viability of standard cost analysis. The structure, composition and nature of variable and fixed costs in the total cost function of automotive firms in Durban, Kwazulu-Natal, South Africa should be factored as key managerial accounting practice tools for maintaining expenditure within budget limits, towards the objective of profit maximization. These can as well enhance the sustenance of economies of scale. In addition, technology management principles can be incorporated curtailing the variable cost component, while advanced statistical methods can be employed to cushion the radical effect of variable cost which are less stable than fixed cost. This will help ease the challenges associated with variable cost budgeting. Further research on the feasibility of standard cost variance analysis should be undertaken within a wide spectrum of industries, with the objective of shedding more light on the effect of this cost control mechanism.