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Evaluation of Port Operations Cost Optimization
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Evaluation of Port Operations Cost Optimization

The study evaluates the cost optimization of port operation using linear programming approach. It is very fundamental that man's main aim of venturing into businesses of all kinds is to make profit. Though profit tends to grow with time, a better planning, analysis and implementation strategy can in a least expected manner bring efficiency, stability and the much needed profit. The maritime sector of the Nigerian economy is one that has a lot of resources that are been utilized in the course of its day to day operations. The resources engaged in this sector ranges from human, to finance and technological know-how. This research study is therefore determined to optimize the cost of port operations in Nigeria with a view to critically analyze it from the perspective of linear programming model.

The quantitative estimates used here were concerned with the activities associated with the operations of Nigerian ports, the costs and the benefits derived by users of these ports etc. A Linear Programming Model as earlier indicated was formulated from the cost components associated with the vessel-port relationships. With the aid of M for Windows Software, an optimal solution was derived. Then the result showed indicated the minimum cost of port operations as well as the optimal time frames for the decision variables of port operations under review. This provides a basis for future projections so as to determine the range of values of the constraints and decision variables for which the Nigeria port operations could be at minimal cost.

Material Excerpt on Evaluation of Port Operations Cost Optimization

TABLE OF CONTENTS

PRELIMINARY PAGES

  • Title page
  • Approval page
  • Dedication
  • Acknowledgement
  • Table of Contents
  • Abstract

CHAPTER ONE

INTRODUCTION

  • 1.1 Background of Study
  • 1.2 Statement of the Problem
  • 1.3 Objectives of the Study
  • 1.4 Research Questions
  • 1.5 Significance of the Study
  • 1.6 Scope of the Study
  • 1.7 Limitation of the Study
  • 1.8 Definition of Terms

CHAPTER TWO

LITERATURE REVIEW

  • 2.1 Introduction
  • 2.2 The Concept of Cost Optimization
  • 2.3 Need for Cost Optimization Strategy
  • 2.4 Steps in Cost Optimization
  • 2.5 Implementation of Cost Optimization Strategies
  • 2.5.1 Out-Staffing
  • 2.5.2 Hybrid Cloud Implementation
  • 2.5.3 Virtualization
  • 2.6 Cost Optimization Techniques
  • 2.7 Element of Cost Training As A Strategy For Labour Cost Optimization
  • 2.8 Reductions in Labour Turnover Rate As A Strategy For Labour Cost Optimization
  • 2.9 Overhead Cost Optimization Techniques Cost Optimization Report
  • 2.9.1 Reduction of Overhead Expenses Through Professional Optimization
  • 2.10 Problem of Cost Optimization Strategies
  • 2.11 Principles of Cost Optimization
  • 2.11.1 Financial Transparency
  • 2.11.2 People and Processes
  • 2.11.3 Continuous Monitoring
  • 2.12 Cost Optimization Framework
  • 2.13 Concept of Cost Management Project
  • 2.14 Advantages of a Cost Management Project

CHAPTER THREE

RESEARCH METHODOLOGY

  • 3.1 Sources of Data
  • 3.2 Method of Data Analysis
  • 3.2.1 The Linear Programming Model
  • 3.2.2 Definition of the Variables For Objective Function

CHAPTER FOUR

RESULTS AND DISCUSSION

  • 4.1 Data Presentation and Description
  • Table 4.1 Port Operations and Expenses Generated Based On Averages of Different Kinds of Cargo
  • Table 4.2 Linear Programming Model For Nigerian Ports Operations
  • Table 4.3 Ranging Table
  • Variable Definition Table — Table 4.4: Solution List
  • 4.2 Result Discussion

CHAPTER FIVE

SUMMARY, CONCLUSION, AND RECOMMENDATION

  • 5.1 Summary of Findings
  • 5.2 Conclusion
  • 5.3 Recommendations

BIBLIOGRAPHY

APPENDIX - "QUESTIONNAIRE"

CHAPTER ONE

1.1 Introduction

In this section, Evaluation of Port Operations Cost Optimization is discussed, with relevant and recent citations. As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the aim and objectives of the study. Others are significance of the study, scope of work, research hypothesis and questions, limitation of the study and definition of terms.

CHAPTER TWO

LITERATURE REVIEW

2.1 Introduction

This chapter focuses on the review of related literature. A literature review presents current knowledge, as well as theoretical and methodological contributions, related to Evaluation of Port Operations Cost Optimization. It documents the state of the art on the subject under study and provides a comprehensive survey of existing literature. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …

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