Baabak Ashuri

Baabak Ashuri

Associate Professor

Director, Economics of the Sustainable Built Environment (ESBE) Lab

baabak [dot] ashuri [at] coa [dot] gatech [dot] edu (Send Email)Phone: (404) 385-7608Fax: (404) 894-1641

Baabak Ashuri is Associate Professor in the School of Building Construction and the School of Civil & Environmental Engineering at Georgia Tech. His work focuses on Economic Decision Analysis of Resilient and Sustainable Infrastructure Systems. This field is multidisciplinary and lies at the confluence of Construction Engineering & Project Management, Infrastructure Asset Management, and Quantitative & Computational Finance. His work has significant implications for improving long-range planning and integrated decision-making processes for buildings and civil infrastructure assets, advancing economic/financial valuation methods for investments in major capital projects while preserving environmental and social conditions to foster resilient and sustainable development.

Dr. Ashuri's most significant research and scholarly accomplishments are 1 book, 1 book chapter, 20 journal articles, 7 research reports, 44 refereed conference proceedings, 23 invited research presentations, and 10 poster presentations. He has been principal investigator of 14 external research projects, total worth of $1,981,606, sponsored by several public and private organizations, such as National Science Foundation (NSF), Department of Energy (DOE), Construction Industry Institute (CII), Georgia Department of Transportation (GDOT), Royal Institution of Chartered Surveyors (RICS), and American Utility Management (AUM). He has been principal investigator of 12 internal research projects, total worth of $133,641, sponsored by several Georgia Tech units, such as Digital Building Lab (DBL), Georgia Tech Research Institute (GTRI), Georgia Tech Foundation (GTF), and Georgia Intern Fellowships for Teachers (GIFT).

Dr. Ashuri is the recipient of several research awards for his scholarly accomplishments. He was recently selected to Engineering News-Record (ENR) Southeast’s “Top 20 Under 40” list for 2014. His research project “Recommended Guide for Next Generation of Transportation Design Build Procurement and Contracting in the State of Georgia” received 2013 High Value Research “Sweet Sixteen” Award from the Value of Research Task Force of the American Association of State Highway and Transportation Officials (AASHTO). “A Real Options Model to Evaluate Toll Highway Project under Two-Phase Development Plan” published in the Built Environment Project and Asset Management Journal was the 2012 Highly Commended Award Winner at the Emerald Literati Network Awards for Excellence. “An Investment Analysis Framework for Energy Retrofit in Existing Buildings” received the Best Paper Award from the 47th Annual International Conference of the Associated Schools of Construction (ASC). In 2014, Dr. Ashuri was elected as the Secretary of the ASCE Construction Research Congress (CRC) and was appointed as the Vice Chair of the ASCE T&DI Committee of Sustainability. Dr. Ashuri holds a PhD in Industrial & Systems Engineering, an MS in Operations Research, and an MS in Building Construction & Facility Management, all from Georgia Tech, and a BS in Civil Engineering from Sharif University of Technology.

Areas of Expertise

  • Innovative Project Delivery Systems (Design-Build, CMGC, IPD, & Public-Private Partnership (P3))
  • Economic Decision Analysis of Resilient & Sustainable Infrastructure Systems
  • Investment Valuation of High-Performance Buildings
  • Energy Performance Benchmarking of Multifamily Properties (AUMScore®)
  • Financial Feasibility Analysis of Alternative Energy Technologies (e.g., Solar Energy Valuation)
  • Predictive Project Analytics
  • Data Mining of BIM Projects
  • Project Finance
  • Real Options Analysis for Infrastructure Asset Valuation
  • Cost Estimation & Forecasting
  • Budget-based Design
  • Risk Management
  • Portfolio Management

 

Summary of Sponsored Research Projects

Title: Valuation of Investments in Building Energy Improvements under Uncertainties

Role: Principal Investigator

Funding: $250,000

 

Source: Civil Infrastructure Systems Program, Division of Civil, Mechanical and Manufacturing Innovation, National Science Foundation

 

Title: Streamlining Project Delivery through Risk Analysis

Role: Principal Investigator (Co-Principal Investigators: Dr. Gordon Kingsley and Dr. Juan Rogers (School of Public Policy, Georgia Tech))

Funding: $499,994

Source: Georgia Department of Transportation

 

Title: Managing a Portfolio of Projects – Metrics for Improvement

Role: Co-Principal Investigator (Principal Investigator: Ali Touran (Northeastern University) and Co-Principal Investigator: Ed Minchin (University of Florida))

Funding: $250,000 – Funded ($60,273 is Georgia Tech’s budget)

Source: Construction Industry Institute (CII)

 

Title: Innovative Project Delivery Using Alternative Financing Mechanisms: Assessment of Benefits, Costs, and Risks

Role: Principal Investigator

Funding: $206,164

Source: Georgia Department of Transportation

 

Title: Solar, Installation, Mounting, Production, Labor, and Equipment Balance of System (SIMPLE BoS)

Role: Subcontractor to the Georgia Tech Research Institute (GTRI) in year 2 for conducting productivity and time and motion study (The project is led by the Georgia Tech Research Institute (GTRI, Atlanta, Georgia, U.S.) in collaboration with Suniva (Norcross, Georgia, U.S.) and Radiance Solar (Atlanta, Georgia, U.S.).

Funding: $41,006

Source: Department of Energy’s (DOE’s) SunShot Initiative (The GTRI project is $2.87 Million Federal, $5.87Million Total Project Value)

 

Title: A Systematic Approach for the Assessment of Green Opportunities for Electrical Contractors

Role: Principal Investigator

Funding: $7,000

Source: ELECTRI International – The Foundation for Electrical Construction

 

Title: Best Practices for Determining Value of Research Results

Role: Principal Investigator

Funding: $30,000

Source: The Southeast Transportation Consortium (STC) and the Louisiana Transportation Research Center (LTRC)

 

Title: Development of Risk Management Strategies for State DOTs to Effectively Deal with Volatile Prices of Transportation Construction Materials

Role: Principal Investigator

Funding: $169,045 – Funded ($76,552 from NCTSPM; $92,493 from GDOT)

Source: Georgia Tech National Center for Transportation Systems Productivity and Management (NCTSPM) (The US Department of Transportation/Research & Innovative Technology Administration), with the matching fund provided by the Georgia Department of Transportation.

 

Title: How Can Innovative Project Delivery Systems Improve GDOT’s Overall Efficiency in Transportation Project Delivery?

Role: Principal Investigator

Funding: $199,976

Source: Georgia Department of Transportation

 

Title: Timing of Investments in Building Solar Energy Intervention: A Real Options Framework to Evaluate Investments in Solar Energy for Buildings

Role: Principal Investigator

Funding: $10,337

Source: The Education Trust of The Royal Institution of Chartered Surveyors (RICS), London, UK

 

Title: Recommended Guide for Next Generation of Transportation Design Build Procurement and Contracting in the State of Georgia

Recipient of 2013 High Value Research “Sweet Sixteen” Award by the Value of Research Task Force, the American Association of State Highway and Transportation Officials (AASHTO)

Role: Principal Investigator

Funding: $172,242

Source: Georgia Department of Transportation

 

Title: AUMScore®, Multifamily Property Utility Benchmarking Program

Role: Principal Investigator

Funding: $37,977

Source: American Utility Management (AUM), Inc.

 

Title: A Time Series Model for Forecasting Construction Cost Index

Role: Principal Investigator

Funding: $7,600

Source: The Education Trust of The Royal Institution of Chartered Surveyors, London, UK

 

Title: DBL Community of Practice for Productivity Analysis of Mechanical, Electrical, and Plumbing (MEP) Coordination

Role: Principal Investigator

Funding: $32,000

Source: Digital Building Laboratory (DBL)

 

Title: Determine the Impact and Effectiveness of BIM

Role: Principal Investigator

Funding: $32,000

Source: Digital Building Laboratory (DBL)

 

Title: Pricing Flexibility in Solar-Ready Homes

Role: Principal Investigator

Funding: $10,041

Source: Georgia Tech Foundation (GTF)

 

Title: Uncertainty Analysis Games for Teaching Construction Risk Management

Role: Principal Investigator

Funding: $1,000

Source: Class of 1969 Teaching Fellow

 

Selected Publications

1)      Castro-Lacouture, D., Irizarry, J., and Ashuri, B. (2014). Construction Research Congress: Construction in a Global Network, ASCE, 2405 pp.

2)      Shahandashti, S.M., and Ashuri, B. (2013). “Forecasting ENR Construction Cost Index using Multivariate Time Series Models.” ASCE Journal of Construction Engineering and Management, 139(9), 1237–1243.

3)      Kim, D. Y., Han, S. H., and Ashuri, B. (2013). “Financial Valuation of Investments in International Construction Markets: A Real Options Approach for Market Entry Decision Making.” ASEC Journal of Management in Engineering, 29(4), 355–368.

4)      Ashuri, B., Kashani, H., Lu, J., and Shahandashti, S.M. (2013). “Investment in solar energy: An alternative approach.” Royal Institution of Chartered Surveyors (RICS) Land Journal, September/October 2013, 20.

5)      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.

6)      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.

7)      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.

8)      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).

9)      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.

10)   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.

11)   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.

12)   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.

13)   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.

Courses Developed & Taught at Georgia Tech

  • BC 7200 Advanced Readings in Building Construction
  • BC 7100 Quantitative Methods for Construction Research
  • BC 6250 Value Management for Integrated Facility Design and Construction
  • BC 6550 Design & Construction Processes
  • BC 4610 Value Engineering & Building Economics
  • BC 3630 Project Management I
  • BC 8823 Advanced Cost and Financial Management in AEC
  • BC 8803/BC 4803 Productivity Analysis for Solar Contractors