scholarly journals Application of Fuzzy Modelling to Predict Construction Projects Cash Flow

2019 ◽  
Author(s):  
Sayed Mohammad Amin Tabei ◽  
Morteza Bagherpour ◽  
Amin Mahmoudi
Keyword(s):  
Fuzzy Sets ◽  
Cash Flow ◽  
Construction Projects ◽  
High Performance ◽  
Construction Project ◽  
Project Managers ◽  
Correct Prediction ◽  
Grey System ◽  
Fuzzy Environment ◽  
Uncertainty Environment

Construction project managers are always looking for methods for forecasting future projects and preventing of potential delays in the project. One of the most crucial requirements of construction project managers and financial planners is awareness of project cash flow and financial status. On the other hand, the unique properties of construction projects with uncertainties such as activity duration, the variability of resources, material costs and also ambiguity in the employer’s payments are factors that have an effect on the correct prediction of project cash flow. Hence, the project team should examine project cash flow under uncertainty environment. There are many approaches for considering uncertainty such as fuzzy sets, interval theory, rough and grey system. But the most well-known approach is fuzzy sets which has wide applications in engineering and management. Hence in this paper, we proposed a new method for forecasting project cash flow under fuzzy environment. Finally, the proposed method was applied on an “Engineering, Procurement and Construction” (EPC) project and it is demonstrated that the proposed model has a high performance in the prediction of project cash flow.

scholarly journals The Importance of Communication Management Improving the Performance of Construction Project Managers in Developing Countries

2021 ◽  
Vol 56 (3) ◽  
pp. 473-484
Author(s):  
Zulkifli Lubis
Keyword(s):  
Developing Countries ◽  
Public Relations ◽  
Construction Projects ◽  
Construction Project ◽  
Project Managers ◽  
Infrastructure Development ◽  
Communication Management ◽  
The Public ◽  
Study Results

The biggest threat that results in the project not being successful is failure to build a stakeholder project. Based on research on construction projects in developing countries, the lack of communication among workers due to cultural uniformity and the uniqueness of their respective regions can become work constraints that can affect implementation performance and productivity, namely, there is a 69.61% decrease in time performance. The main objective of this research is to analyze the role of communication management in improving the performance of construction project managers in developing countries, particularly the role of construction managers in implementing a construction project. This research uses a qualitative approach and a case study method. Sampling using purposive sampling. Forum Group Discussion to see how the opinions of construction project managers in Indonesia view the importance of communication management in the success of construction projects. The study results explain that the need for Public Relations Infrastructure management plays a role in ensuring various policies and communication to the public. This is a reflection of the effective function of public relations in the implementation of infrastructure development. In carrying out the construction, the construction project manager must pay attention to communication dynamics to support the success of infrastructure development projects. Contractors and other parties involved in infrastructure development must raise awareness of the essence of effective communication in fostering trust in the public concerned with infrastructure development.

scholarly journals Application of Boosting Regression Trees to Preliminary Cost Estimation in Building Construction Projects

2015 ◽  
Vol 2015 ◽  
pp. 1-9 ◽  
Author(s):  
Yoonseok Shin
Keyword(s):  
Cost Estimation ◽  
Construction Projects ◽  
High Performance ◽  
Learning Algorithm ◽  
Early Stage ◽  
Construction Project ◽  
Regression Tree ◽  
Building Construction ◽  
Regression Problem ◽  
Additional Information

Among the recent data mining techniques available, the boosting approach has attracted a great deal of attention because of its effective learning algorithm and strong boundaries in terms of its generalization performance. However, the boosting approach has yet to be used in regression problems within the construction domain, including cost estimations, but has been actively utilized in other domains. Therefore, a boosting regression tree (BRT) is applied to cost estimations at the early stage of a construction project to examine the applicability of the boosting approach to a regression problem within the construction domain. To evaluate the performance of the BRT model, its performance was compared with that of a neural network (NN) model, which has been proven to have a high performance in cost estimation domains. The BRT model has shown results similar to those of NN model using 234 actual cost datasets of a building construction project. In addition, the BRT model can provide additional information such as the importance plot and structure model, which can support estimators in comprehending the decision making process. Consequently, the boosting approach has potential applicability in preliminary cost estimations in a building construction project.

scholarly journals ANALISIS KUALITAS MANAJER PROYEK TERHADAP PELAKSANAAN PROYEK KONSTRUKSI (STUDI KASUS : DI DENPASAR DAN BADUNG)

2017 ◽  
Vol 5 (1) ◽  
Author(s):  
I Gde Eka Dharsika ◽  
IN Budiartha ◽  
I W Yansen
Keyword(s):  
Construction Projects ◽  
Linear Regression Analysis ◽  
Construction Project ◽  
Project Managers ◽  
Project Manager ◽  
Project Work ◽  
Dominant Factor ◽  
Labor Costs ◽  
A Value

Abstract: Problems in construction projects caused by the extension of working time and an increase in labor costs. A limited ability of project management contribute to the decline in the quality of project work. The quality of project manager has an important role to smooth a construction project. Dedication in this profession requires project managers to carry out the work going according to plan. Analyzing the quality of the project manager for the implementation of construction projectsis one wayto measure the quality of a project. It needs  a right measurements way to providean accurate assessment of qualified and reliable project managers. This study aimed to obtain and analyze the factors that affect the quality of the project manager and its to construction projects.This used a sample of 45 respondents from several construction projects in the area of Badung and Denpasar during the period 2007-2012. The method used in this study is the method of multiple linear regression analysis by testing for the F-test and t-test. The results found 8 dominant factor that has a value eigen values??> 1. Sequentially, the factors that have been named are experience 41.63%,  education 9.278%, knowledge 7.240%, ability 5.088%, character 4.047%, network 3.843%, relationship communication 3.550%, confidence 3.357%. Influence the quality of the project manager on the performance fee of 51.9%, against 43.1% for quality performance, on-time performance, with a value of 57.9%. The results of this study prove that the powerful influence between the quality of the construction project manager to the implementation of construction projects.

Overall multiobjective optimization of construction projects scheduling using particle swarm

2016 ◽  
Vol 23 (3) ◽  
pp. 265-282 ◽  
Author(s):  
Emad Elbeltagi ◽  
Mohammed Ammar ◽  
Haytham Sanad ◽  
Moustafa Kassab
Keyword(s):  
Cash Flow ◽  
Construction Projects ◽  
Real Life ◽  
Particle Swarm ◽  
Project Managers ◽  
Time Cost ◽  
Swarm Optimization ◽  
Content Type ◽  
Proposed Model ◽  
Optimized Schedule

Purpose – Developing an optimized project schedule that considers all decision criteria represents a challenge for project managers. The purpose of this paper is to provide a multi-objectives overall optimization model for project scheduling considering time, cost, resources, and cash flow. This development aims to overcome the limitations of optimizing each objective at once resulting of non-overall optimized schedule. Design/methodology/approach – In this paper, a multi-objectives overall optimization model for project scheduling is developed using particle swarm optimization with a new evolutionary strategy based on the compromise solution of the Pareto-front. This model optimizes the most important decisions that affect a given project including: time, cost, resources, and cash flow. The study assumes each activity has different execution methods accompanied by different time, cost, cost distribution pattern, and multiple resource utilization schemes. Findings – Applying the developed model to schedule a real-life case study project proves that the proposed model is valid in modeling real-life construction projects and gives important results for schedulers and project managers. The proposed model is expected to help construction managers and decision makers in successfully completing the project on time and reduced budget by utilizing the available information and resources. Originality/value – The paper presented a novel model that has four main characteristics: it produces an optimized schedule considering time, cost, resources, and cash flow simultaneously; it incorporates a powerful particle swarm optimization technique to search for the optimum schedule; it applies multi-objectives optimization rather than single-objective and it uses a unique Pareto-compromise solution to drive the fitness calculations of the evolutionary process.

scholarly journals Toward Reducing Construction Project Delivery Time under Limited Resources

2021 ◽  
Vol 13 (19) ◽  
pp. 11035
Author(s):  
Hossam H. Mohamed ◽  
Ahmed H. Ibrahim ◽  
Asmaa A. Soliman
Keyword(s):  
Construction Projects ◽  
Resource Constraints ◽  
Optimization Problems ◽  
Cost Optimization ◽  
Construction Project ◽  
Limited Resource ◽  
Project Managers ◽  
Project Schedule ◽  
Java Program ◽  
Optimizing Model

One of the most vital construction project aspects is to complete a project in minimum time restricted to the time–cost trade-off. Overlapping activities’ planning and their impact on the project under limited resource constraints should be considered. This study aims to develop a model for optimizing the project schedule and cost regarding overlap activities and their impacts. This study reviews previous studies on changes in past activities likely to produce additional reworking of subsequent activities. In addition, an AHP model is developed to assess the reworking time of subsequent activities based on possible changes in previous activities. In addition, five realistic construction projects are applied. Finally, an optimizing model is developed for optimizing project time and cost using overlapping techniques by using the Java program. The results indicate that the proposed model can be used by project managers easily for solving time and cost optimization problems. In addition, it can be updated to continuously improve its functionality. Finally, it can be updated later to support AI for finding better solutions.

scholarly journals The Assessment of Risk Management & Engineering Management Practices at Project Planning Phase on Performance of Construction Projects

2020 ◽  
Vol 6 (4) ◽  
pp. 1365-1375
Author(s):  
Shahid Iqbal ◽  
Nabeel Ehtisham ◽  
Syed Farqaleet K. Bukhari ◽  
Shahid Mahmood
Keyword(s):  
Risk Management ◽  
Site Selection ◽  
Construction Projects ◽  
Management Practices ◽  
Construction Project ◽  
Engineering Management ◽  
Project Planning ◽  
Project Managers ◽  
Planning Stage ◽  
The World

Project Risk management is known as an important workout for the achievement of desired objectives for the construction projects. Success in construction project is quantified by attaining its enactment in terms of project quality, project cost, project time, project safety. Construction projects in Pakistan, typically in the whole world have a high risk of being pointedly late and over budget. However, a bit of schedule and cost related risks are unavoidable in any construction project around the world. It was found out that the engineers were generally nominated earlier the design phase of any project. Due to this reason maximum projects did not get the advantage from SMEs at the planning stage of the project. This study also supports that project managers who are engineers be involved in construction projects site selection, in preliminary budget and schedule development by using good Engineering Management Practices.

scholarly journals An Ability of WhatsApp Usage in Industrialised Building System (IBS) Construction Project

2019 ◽  
Vol 13 (04) ◽  
pp. 188
Author(s):  
Mohd Affendi Ahmad Pozin ◽  
Mohd Nasrun Mohd Nawi ◽  
Md Azree Othuman Mydin ◽  
Salman Riazi Mehdi Riazi ◽  
Ayub Ilfandy Imran
Keyword(s):  
Construction Projects ◽  
Empirical Studies ◽  
Construction Project ◽  
Effective Communication ◽  
Structured Interview ◽  
Project Managers ◽  
Project Teams ◽  
Distributed Teams ◽  
Communication Performance ◽  
Interview Methodology

In this article, we discuss about WhatsApp application practise around project managers in managing IBS construction projects. The WhatsApp application offera great advantages, especially in collecting, managing information and data in a timely manner. Previous study highlighted effective communication become as a bridge between practitioners to share a knowledge, information and integration. Unfortunately, there is still a lack of empirical studies on how efficiencies of WhatsApp application overcome the communication barriers while managing distributed project teams on construction project. Thus this study seeks to explore communication performance perceived through WhatsApp application. The semi-structured interview methodology was used to gain in-depth knowledge from several project managers who have experiences in managing construction projects virtually through WhatsApp application. The finding from this study revealed that WhatsApp application has become an effective communication channel to overcome the barriers of communication while managing distributed teams and allowing timely information sharing.

scholarly journals Understanding the Key Quality Factors in Construction Projects—A Systematic Literature Review

2020 ◽  
Vol 12 (24) ◽  
pp. 10376
Author(s):  
Sławomir Wawak ◽  
Žanesa Ljevo ◽  
Mladen Vukomanović
Keyword(s):  
Project Management ◽  
Literature Review ◽  
Systematic Literature Review ◽  
Construction Projects ◽  
Construction Project ◽  
Project Managers ◽  
Related Factors ◽  
Planning Stage ◽  
Starting Point

Project management frameworks describe the preferred approaches to project quality management, as well as applicable methods and tools. Despite this, quality problems in the construction project are still widespread. This study aimed to identify crucial quality-related factors in construction project management and find relations between them, to help researchers and project managers better respond to quality issues. A systematic literature review (SLR) was used to identify previous studies on quality-related factors. Literature review and further quantitative analysis revealed that quality-related factors are related to three categories: Quality of project process, quality of organisational processes, and quality of results (products), which together create the quality of the whole construction project. The results highlight quality-related factors (14 related to the quality of processes, 6 to quality of an organisation, and 13 to quality of products) that should be taken into account in further research, as well as planning and executing construction projects. Their inclusion at the planning stage should help project managers, sponsors, and steering committees avoid or minimise quality-related problems. Moreover, this study sheds an interesting light on quality. We found that the quality of processes and quality of an organisation has precedence over the final product quality. Based on the results of the study, structural equation modelling (SEM) was used to create a null model that will be the starting point for further research in the construction enterprises.

scholarly journals Identifying client project manager competency in Indonesian construction project

2019 ◽  
Vol 276 ◽  
pp. 02007
Author(s):  
Kartika Puspa Negara ◽  
Fiona Lamari ◽  
Connie Susilawati ◽  
Bambang Trigunarsyah
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Project Managers ◽  
Project Manager ◽  
Importance Index ◽  
Client Involvement ◽  
Project Construction ◽  
Public Construction ◽  
Client Side ◽  
Active Client

The influence of active client involvement towards project construction success is gaining recognition in the last few decades. The growing concern on the client involvement has drifted the perception towards client away from the passive role into contributor of project success. During client involvement in the construction project, a representative from client or client project manager (CPM) should be complemented with certain competencies in order to succeed in commissioning construction projects. Evidence shows that some public construction projects in Indonesia failed due to the lack of competency of client project managers. Whilst most of the previous studies concern on the competency of general project managers, this paper specifically investigates competency of project manager from client side who works as a civil servant, and commissioning public construction sectors. This paper aims to identify the important competencies required by CPM in construction projects in Indonesia and examine current Indonesian CPM competency standard. Relative Importance Index (RII) was employed to assess the important level of competencies. The findings will enrich understanding on client project manager competency and become a basis to undergird further empirical research in client project manager development areas.

Project Managers' Profile Influence on Design and Implementation of Cost Monitoring and Control Systems for Construction Projects

2015 ◽  
Vol 6 (3) ◽  
pp. 1-25 ◽  
Author(s):  
Georgios N. Aretoulis ◽  
Glykeria P. Kalfakakou ◽  
Aikaterini A. Seridou
Keyword(s):  
Statistical Analysis ◽  
Control Systems ◽  
Construction Projects ◽  
Construction Project ◽  
Project Managers ◽  
Project Manager ◽  
Monitoring And Control ◽  
Design And Implementation ◽  
Monitoring And Control Systems ◽  
And Control

“Cost Monitoring and Control Systems” (CMCS), are important for every construction project, in order to keep cost at completion, within budget. Uniqueness of every project requires a corresponding uniquely planned, organized and operating CMCS. Perception and realization of content and context of the CMCS are affected by experience and knowledge of the project manager (PM). This paper examines the influence of PMs' stereotypes on the CMCS. A prototype questionnaire was designed and a following survey took place. Statistical analysis highlighted several PMs' properties and conceptions that correlate with the setup and implementation of the CMCS.

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