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The purpose of this paper is to attempt to shed light on procurement innovation by examining two state-of-the-art procurement systems in China – an agent-construction system (ACS or in Chinese Dai Jian Zhi) and public-private partnership (PPP), with special consideration given to the systems’ particular political, economic, social, technological, environmental, and legal (PESTEL) background.

The paper does so by using content analyses, semi-structured interviews, and a “PESTEL-Procurement Innovation” framework.

It is found that PPP has not been as popular as expected, while the ACS, which is little known to the international construction management community, is widespread in China. The study of ACS and PPP further reveals that congruence between a procurement system and its external PESTEL conditions is essential for procurement innovation.

The “PESTEL-Procurement Innovation” framework could be a useful tool for devising procurement innovation; although there are many questions yet to be answered by further research.

The paper provides useful insights into procurement innovation, particularly when governments worldwide are searching for innovative procurement systems to help deliver public projects and services.

The paper possesses originality in that it tackles procurement innovation, an area that is under researched in construction management. It exhorts the re-connection between a procurement system and its external PESTEL conditions for devising bona fide procurement innovations.

The purpose of this paper is to develop a robot vision system for surface defect detection of 3D objects. It aims at the ill‐defined qualitative items such as stains and scratches.

A robot vision system for surface defect detection may counter: high surface reflection at some viewing angles; and no reference markers in any sensed images for matching. A filtering process is used to separate the illumination and reflection components of an image. An automatic marker‐selection process and a template‐matching method are then proposed for image registration and anomaly detection in reflection‐free images.

Tests were performed on a variety of hand‐held electronic devices such as cellular phones. Experimental results show that the proposed system can reliably avoid reflection surfaces and effectively identify small local defects on the surfaces in different viewing angles.

The results have practical implications for industrial objects with arbitrary surfaces.

Traditional visual inspection systems mainly work for two‐dimensional planar surfaces such as printed circuit boards and wafers. The proposed system can find the viewing angles with minimum surface reflection and detect small local defects under image misalignment for three‐dimensional objects.

Special purpose companies issue stocks to raise money to finance development of real estate and infrastructure. The advantage of a stock issue is that it does not entail financial cost such as interest on a loan. However, financing obtained in this way has been insufficient due to low interest by investors because of the large variability of the stocks’ earnings rates. The purpose of this paper is to propose methods to improve investment earnings rate for financing.

The proposed methods are Markowitz’s model and a combination of Markowitz’s model and Monte Carlo simulation. The proposed methods were verified by comparison with actual earnings rate.

The earnings rate was increased by as much as 23 percent over the actual value. Then, earnings rate compared with risk was analyzed using the Sharpe ratio which is a method to measure investment performance. The performance was also increased by as much as 23 percent over the actual value. The proposed method can help activate investment by increasing investors’ interest in the stock issue.

This study verified that Markowitz’s portfolio model, which is used for econometrics, could be applied for financing of construction project. It is valuable because the previous studies did not propose the method for financing.