scholarly journals Analisis Kebutuhan Modal Kerja Kontraktor Berdasarkan Sistem Pembayaran di Gedung Rawat Inap Rumah Sakit Sanjiwani Gianyar

2021 ◽  
Vol 16 (2) ◽  
pp. 72
Author(s):  
Made Sudiarsa ◽  
I Ketut Sutapa
Keyword(s):  
Cash Flow ◽  
Flow Condition ◽  
Construction Project ◽  
Payment System ◽  
Bank Loan ◽  
Working Capital ◽  
Policy Alternatives ◽  
Implementation Time ◽  
Research Analysis ◽  
Selection Of

A construction project is a series that is only implemented once and is generally short-term, with limited resources. Before the implementation of a construction project runs, it usually starts with the preparation of a work plan and a project implementation time (time schedule). The realization of work plans in the field often experiences delays in the process, because revenue realization is very much determined by the selection of the payment system used by the contractor which will affect the project cash flow (cash flow), the amount of working capital required, the progress of a job, and to determine policy alternatives. that needs to be done so that the project does not experience a deficit. This study aims to determine the payment system that requires less working capital and benefits the contractor in terms of project benefits. The analysis uses 2 alternative policies carried out by the contractor during the project, alternative 1 by making a loan to the bank and alternative 2 with a material payment policy. From the results of this research analysis, it is found that the MC payment system does not require working capital because the project cash flow condition is always a surplus, while the term payment system requires working capital in the form of a bank loan of IDR 410,000,000.00 so that the project cash flow condition does not experience a deficit, as was done. on policy alternatives 1.

Modeling of the harmonization method for executing a multi-unit construction project

2019 ◽  
Vol 9 (1) ◽  
pp. 282-291 ◽  
Author(s):  
Michał Tomczak
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Construction Project ◽  
Optimization Method ◽  
Linear Processes ◽  
Project Duration ◽  
Construction Enterprises ◽  
Non Linear ◽  
Implementation Time ◽  
Selection Of

AbstractOne of the key problems in managing the realization of a construction project is the selection of appropriate working crews and coordinating their activities in a way that ensures the highest degree of implementation of defined goals (minimizing the project duration and/or reducing downtime and related costs). Most of the existing methods of work harmonization used in construction industry allow obtaining the desired results only in relation to the organization of the processes realization in repetitive linear projects. In case of realization of non-linear construction objects or construction units, it is usually necessary to choose between the reduction of the project implementation time and maintaining the continuity of crews work on the units. It was found that there is a lack in the literature of developed method enabling harmonization of crews’ work, while minimizing the downtime at work and the duration of the entire project taking into account additional constraints, e.g. the need to not exceed the deadlines for the realization of the project stages.The article presents the concept of a multi-criteria optimization method of harmonizing the execution of non-linear processes of a multi-unit construction project in deterministic conditions. It will enable the reduction of realization time and downtimes in work, taking into account the preferences of the decision maker regarding the relevance of the optimization criteria. A mathematical model for optimizing the selection of crews and order of completion of units in multi-unit construction projects was also developed. In order to present the possibility of usage of the developed concept, an example of the optimal selection of crews and their work schedule was solved and presented. The proposed method may allow for better use of the existing production potential of construction enterprises and ensure synchronization of the crews employed during the work, especially in the case of difficulties in acquiring qualified staff in construction industry.

scholarly journals OPTIMALISASI CASHFLOW MENGGUNAKAN METODE PENJADWALAN EST DAN PENGATURAN SUMBERDAYA PADA PROYEK BANGUNAN GEDUNG

2014 ◽  
Vol 8 (1) ◽  
pp. 55
Author(s):  
Sitti Safiatus Riskijah
Keyword(s):  
Cash Flow ◽  
Construction Project ◽  
Payment System ◽  
Balance Of Payments ◽  
Start Time ◽  
Maximum Profit ◽  
Flow Systems ◽  
The One

An appropriate and accurate management of financial source will be able to run activities of a project well and increases the contractor’s profit. This reasearch aims at determining the kind of optimum cashflow of a multi purpose construction project in Malang. Schedule, debits and credits, loan interest, installment plan, completed with the system of contract payment from the owner to the contractor were needed to make the cash flow. It was done by employing 20% and 0% down payment based on EST (Earlierst Start Time), 27 kinds of resource payment system varied in start, prorate, and end of cost, material, and work. Each Cash flow will not only determine the balance of payments and total credits of each period but also the profit. The findings the show that the kinds of Cash flow which gives maximum profit for contractors, are as follow: 1) the one based on EST with no down payment system at a difference profit of IDR 109.708.207,51 or 1,5%; 2) the one based on arrangement of cost, material, and work payment system which results in Start-End-End payment; 3) the application of the two Cash flow systems results in  Start-End-End system is able to give maximum profit of IDR 7.869.632.694,74.Keywords: Cash flow, debit, credit, payment system, maximum profit

scholarly journals Delay in payment effects on productivity of small and medium construction companies in Oman: exploration and ranking

2021 ◽  
Author(s):  
Mubarak Al Alawi
Keyword(s):  
Cash Flow ◽  
Questionnaire Survey ◽  
Financial Stability ◽  
Construction Project ◽  
Internal Factors ◽  
Construction Productivity ◽  
Construction Companies ◽  
Productivity Rate ◽  
Delay In Payments ◽  
Productivity Factors

AbstractMaintaining a stable productivity rate in a construction project is a challenge. Many external and internal factors influence it. Delay in payment is one of the factors representing the project cash flow and mirrors the company’s financial stability status. This study explores the delay in payments effects on the construction productivity of the small and medium construction companies in Oman. Also, it ranks the delay in payment among other productivity factors. Sixty-five small and medium construction companies registered in Oman Tender Board participated in the questionnaire survey. The results showed that delay in payment significantly affects the financial stability of the companies. The delay in payment was ranked third out of 21 influencing productivity factors. The results were compared with a previous study that covered large construction companies in Oman. It was found that the rank of delay in payment in the small and medium construction is significantly higher than what was found in large companies.

Application of machine learning in predicting construction project profit in Ghana using Support Vector Regression Algorithm (SVRA)

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Emmanuel Adinyira ◽  
Emmanuel Akoi-Gyebi Adjei ◽  
Kofi Agyekum ◽  
Frank Desmond Kofi Fugar
Keyword(s):  
Machine Learning ◽  
Support Vector Regression ◽  
Cash Flow ◽  
Predictive Accuracy ◽  
Model Development ◽  
Construction Project ◽  
Support Vector ◽  
Sensitivity Index ◽  
Content Type ◽  
Hyperparameter Selection

PurposeKnowledge of the effect of various cash-flow factors on expected project profit is important to effectively manage productivity on construction projects. This study was conducted to develop and test the sensitivity of a Machine Learning Support Vector Regression Algorithm (SVRA) to predict construction project profit in Ghana.Design/methodology/approachThe study relied on data from 150 institutional projects executed within the past five years (2014–2018) in developing the model. Eighty percent (80%) of the data from the 150 projects was used at hyperparameter selection and final training phases of the model development and the remaining 20% for model testing. Using MATLAB for Support Vector Regression, the parameters available for tuning were the epsilon values, the kernel scale, the box constraint and standardisations. The sensitivity index was computed to determine the degree to which the independent variables impact the dependent variable.FindingsThe developed model's predictions perfectly fitted the data and explained all the variability of the response data around its mean. Average predictive accuracy of 73.66% was achieved with all the variables on the different projects in validation. The developed SVR model was sensitive to labour and loan.Originality/valueThe developed SVRA combines variation, defective works and labour with other financial constraints, which have been the variables used in previous studies. It will aid contractors in predicting profit on completion at commencement and also provide information on the effect of changes to cash-flow factors on profit.

scholarly journals Simulation evidence on the properties of alternative measures of working capital accruals

2017 ◽  
Vol 25 (4) ◽  
pp. 378-394
Author(s):  
Javad Izadi Zadeh Darjezi ◽  
Homagni Choudhury ◽  
Alireza Nazarian
Keyword(s):  
Cash Flow ◽  
Estimation Error ◽  
Explanatory Power ◽  
Cash Flows ◽  
Working Capital ◽  
Accrual Quality ◽  
Content Type ◽  
Explanatory Variables ◽  
Study Results ◽  
The Uk

Purpose This paper aims to investigate the specification and power of tests based on the DD and modified DD model through the UK data between years 2000 and 2013, and make comparisons with tests using working capital accruals creating a measure of accruals quality as the standard deviation of the residuals value from firm-specific regressions base on working capital accruals on last, current and one-year-ahead cash flows from operations. Design/methodology/approach This study focuses both on the DD model and modified DD model to find out which of them can more accurately capture total working capital accrual estimation error and accrual quality. According to the DD model, the past, current and future net cash from operating activities as the three years’ operating cash inflows or outflows become omitted and correlated variables. In this study, the authors continue to document residuals from the DD and MDD models to demonstrate properties that are more consistent with behaviours of accruals estimation errors. Therefore, in this study, the authors are looking to compare the results from both the MDD and DD models and find which one of them is more effective in explaining the working capital accruals in the UK. Findings The authors find that adding additional explanatory variables may add additional explanatory power of variables to the DD model and extent to which accruals map into cash flow insights based on the UK data. This study is empirically well fitting with the internal workings of cash flows. As investors fixate only on the accounting earnings, they may fail to reflect fully on information contained within cash flow components and working capital accruals of current and future earnings. Originality/value The authors compare different equation to cover more items of working capital accruals. In addition, after examining earnings and accrual quality, the findings show that the average UK company behaviour was quite similar to the behaviour that was founded earlier for both models in the USA. Furthermore, this study results show that more volatility of sales, cash flow, accruals and earnings make a lower accrual quality. The results demonstrate that both models can capture the power to predict working capital accruals. Moreover, we find that adding additional explanatory variable of employee growth rate adds additional explanatory variables to DD model.

The determinants of corporate cash holdings: evidence from Shariah-compliant and non-Shariah-compliant corporations

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Faisal Alnori ◽  
Abdullah Bugshan ◽  
Walid Bakry
Keyword(s):  
Cash Flow ◽  
Capital Expenditure ◽  
Cash Holdings ◽  
Order Theory ◽  
Working Capital ◽  
Pecking Order Theory ◽  
Content Type ◽  
Financial Firms ◽  
Operating Cash Flow ◽  
The Difference

PurposeThe purpose of this study is to investigate the difference between the determinants of cash holdings of Shariah-compliant and non-Shariah-compliant firms, for non-financial corporations in the Gulf Cooperation Council (GCC).Design/methodology/approachThe data include all non-financial firms listed in six GCC markets over a period 2005–2019. The IdealRatings database is used to identify Shariah-compliant firms in the GCC. To examine the determinants of cash holdings, a static model is used. To confirm the applicability of the method applied, the Breusch–Pagan Lagrange Multiplier (LM) and Hausman (1978) are used to choose the most efficient and consistent static panel regression.FindingsThe results show that, for Shariah-compliant firms, the relevant determinants of cash holdings are leverage, profitability, capital expenditure, net working capital and operating cash flow. For non-Shariah-compliant firms, the only relevant determinants of cash holdings are leverage, net working capital and operating cash flow. The findings suggest that the cash holding decisions of Shariah-compliant firms can be best explained using the pecking order theory. This reveals that Shariah-compliant firms use liquid assets as their first financing option, due to the Shariah regulations.Research limitations/implicationsFuture studies may investigate the optimal levels of cash holdings and compare the adjustment speeds toward target cash holdings of both the Shariah-compliant firms and their conventional counterparts.Originality/valueThis study is the first to investigate the difference between the determinants of cash holdings of Shariah-compliant and non-Shariah-compliant firms.

Knowledge Management in Public Construction Project Initiation

2014 ◽  
pp. 422-435
Author(s):  
Marja Naaranoja ◽  
Lorna Uden
Keyword(s):  
Decision Making ◽  
Knowledge Management ◽  
Knowledge Integration ◽  
Construction Project ◽  
The Other ◽  
Construction Project Management ◽  
Small Project ◽  
Conflicting Interests ◽  
Public Construction ◽  
Selection Of

Despite the importance of knowledge integration in construction project management, it rarely happens in reality. This chapter describes two case studies involving knowledge management of a public construction project for two universities in Finland. There were many different stakeholders involved in the projects. Although much effort has been put into the project during the initial stages, the projects’ starts were delayed. This chapter gives underlying reasons for the delays followed by proposing an approach where co-creation of value for knowledge integration can be used to overcome the problems with the conflicting interests of the stakeholders. The other project introduces a small project where the initiator is a facility owner. This study shows how the selection of the stakeholders for decision-making was a challenge.

scholarly journals Quantifying fishers' and citizens' support for Dutch flatfish management policy

2011 ◽  
Vol 68 (5) ◽  
pp. 919-928 ◽  
Author(s):  
Rolf A. Groeneveld
Keyword(s):  
Maximum Sustainable Yield ◽  
Management Policy ◽  
Spawning Period ◽  
Policy Alternatives ◽  
Spawning Stock ◽  
Fisheries Policy ◽  
Minimum Landing Size ◽  
Policy Objectives ◽  
The Impact ◽  
Selection Of

Abstract Groeneveld, R. A. 2011. Quantifying fishers' and citizens' support for Dutch flatfish management policy. – ICES Journal of Marine Science, 68: 919–928. Fisheries policy is most effective when supported by fishers and the general public. Dutch citizens' and fishers' support for a selection of policy alternatives to enhance the sustainability of the Dutch North Sea cutter fleet is estimated, and the same groups' support for policy alternatives is expressed in monetary terms. A stated-choice survey was held among a representative sample of the Dutch population to assess their average willingness to pay for a selection of policy objectives, and among Dutch flatfish fishers to estimate their willingness to accept a selection of policy measures. The results indicate that citizens are most concerned about the impact of beam trawling on benthic megafauna, because they are on average willing to pay €21.46 per year to reduce the impact, but reducing fishing pressure in the plaice (Pleuronectes platessa) spawning period and restoring spawning-stock biomass of plaice and sole (Solea solea) to the levels of maximum sustainable yield are also supported. Fishers seem to support enhanced fines for the use of illegal fishing gear, but they are most opposed to increasing the minimum landing size of sole.

Sign in / Sign up

Export Citation Format

Share Document