Hybrid multiple objective evolutionary algorithms for optimising multi-mode time, cost and risk trade-off problem

Long, Luong Duc; Tran, Duc Hoc; Nguyen, Phong Thanh

doi:10.1504/ijcat.2019.100299

Cited by 17 publications

(5 citation statements)

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“…In case there is an extension, construction unit prices may vary. In short, the "extension of project implementation schedule" is significant, which significantly affects the cost overruns of the foreign contractors (Long, Tran, & Nguyen, 2019). The solutions for contractors, such as: (i) Before signing contracts, contractors need to carefully negotiate terms (FIDIC can be applied) on an owners' request for the extensions of project implementation schedules and corresponding compensation levels; (ii) In the construction phases, contractors should:…”

Section: Resultsmentioning

confidence: 99%

Factors Influencing Cost Overruns in Construction Projects of International Contractors in Vietnam

Vu¹,

Pham²,

Nguyen³

et al. 2020

JAFEB

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A construction project is a designed product made up of labors, materials, and installations in the project positioned on the ground and may include the underground and ground section, and the section in water or on the water surface. It is a civil, industrial, transport, agricultural and rural development, infrastructure, or some other. A key phase in the life cycle of these construction projects is the implementation when building products are made directly with workers, equipment, materials, and managers. If there is a lack of management experience, information, and problem-solving solutions to tackle the risks faced by contractors, especially foreign ones, will fail in controlling the project's cost. This study was conducted with investigations, discussions, and evaluation of the factors that lead to cost overruns in the construction projects of international contractors in Vietnam. The principal component analysis (PCA) showed that those factors that influence cost overruns these construction projects fall into five general groups, including factors related to (i) the owners, (ii) the foreign contractors, (iii) the subcontractors and suppliers, (iv) state management, and (v) the project itself. Besides, the study proposes solutions to limit cost overruns in construction projects and improve the profitability of international contractors in Vietnam.

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Section: Resultsmentioning

confidence: 99%

Factors Influencing Cost Overruns in Construction Projects of International Contractors in Vietnam

Vu¹,

Pham²,

Nguyen³

et al. 2020

JAFEB

Self Cite

View full text Add to dashboard Cite

show abstract

“…Managers were not in a position to fully understanding risk management. The consequence was unclear plans and the absence of prevention goals (Long et al, 2019;Purwanti et al, 2020;Sy et al, 2017). They were not ready to coordinate with accountants in their information presentations and disclosures.…”

Section: Resultsmentioning

confidence: 99%

Barriers to Derivative Accounting Disclosure: The Case of Vietnamese Firms

Nguyen¹,

TRAN²,

Nguyen³

2020

JAFEB

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This paper explores the barriers to derivative accounting disclosures in Vietnamese companies and ranks their relative importance for effective and efficient remedies. The Delphi technique was applied to get agreement of panel of experts on the measurement of factors hindering disclosure. Unstructured questionnaires were first sent to twelve experts who had both practical experience and academic knowledge in the field to get ideas on the obstructions to derivatives disclosure. The structured questionnaire was designed to get their agreement on barriers to derivative accounting disclosures. The data analysis with mean, median, mode, standard deviation, and quartile has been implemented to ensure the unanimity. Market-related factors, legislation, accountants' attributes, managers' attributes, information technology and communication, and on-site training were the six major obstacles agreed upon by the experts during their in-depth interviews. Then, these factors were ranked by applying the analytical hierarchy process (AHP). The findings confirmed the priority of information technology and communication, which held the greatest weight. Legislation ranked second, followed by market-related factors and on-site training, which explained the impediments to derivatives disclosure. Managers' and accountants' attributes had the least contribution to the barriers to derivative disclosures. The results have important implications for actions to enhance corporate derivative disclosures in Vietnam.

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“…They suggested considering risks in their model to enhance schedule flexibility. Long et al ( 2019 ) optimized the multi-mode TCRTP. To solve the model, they considered a hybrid multiple objective evolutionary algorithms for optimizing by Artificial Bee Colony (ABC) and differential evolution (DE).…”

Section: Survey On Related Workmentioning

confidence: 99%

Resource-constrained time–cost-quality-energy-environment tradeoff problem by considering blockchain technology, risk and robustness: a case study of healthcare project

Lotfi

Kargar

Gharehbaghi

et al. 2022

Environ Sci Pollut Res

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Blockchain Technology (BCT) is expanding day by day and is used in all pillars of life and projects. In this research, we survey applicable BCT in project management for the first time. We presented a Resource-Constrained Time–Cost-Quality-Energy-Environment Tradeoff Problem by considering BCT, Risk and Robustness (RCTCQEETPBCTRR) in project scheduling. We utilize hybrid robust stochastic programming, worst case, and Conditional Value at Risk (CVaR) to cope with uncertainty and risks. This type of robustification and risk-averse is presented in this research. A real case study is presented in a healthcare project. We utilize GAMS-CPLEX to solve the model. Finally, we analyze finish time, conservative coefficient, the confidence level of CVaR, and the number of scenarios. The most important research result is that applying BCT decreases cost, energy, and pollution and increases quality. Moreover, the total gap between RCTCQEETPBCTRR and without BCT is approximately 2.6%. When compacting finish time happens or if the conservative coefficient increases to 100%, costs, energy, and pollution environment increase, but quality decreases. If the confidence level of CVaR increases, the cost, energy, and environment function functions grow up, and quality is approximately not changed.

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Hybrid multiple objective evolutionary algorithms for optimising multi-mode time, cost and risk trade-off problem

Cited by 17 publications

References 0 publications

Factors Influencing Cost Overruns in Construction Projects of International Contractors in Vietnam

Factors Influencing Cost Overruns in Construction Projects of International Contractors in Vietnam

Barriers to Derivative Accounting Disclosure: The Case of Vietnamese Firms

Resource-constrained time–cost-quality-energy-environment tradeoff problem by considering blockchain technology, risk and robustness: a case study of healthcare project

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