Profit Optimization for Multiproject Scheduling Problems Considering Cash Flow

Liu, Shu‐Shun; Wang, Chang‐Jung

doi:10.1061/(asce)co.1943-7862.0000235

Cited by 48 publications

(35 citation statements)

References 31 publications

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“…Since most companies handle multiple projects simultaneously, managing project finance becomes complicated and tough for contractors (Liu, Wang 2010). Insolvency is more likely to occur in the construction industry than most other industries (Kaka, Price 1993).…”

Section: Cash Flow Forecastingmentioning

confidence: 99%

An Investigation on the Improvement of Construction Expenditure Forecasting

Ross

Dalton

Sertyeşilışık

2013

Journal of Civil Engineering and Management

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This study aims to determine the accuracy of the cash flow models and to investigate if these models could be more accurate if they accounted for the potentially influential variables specific to individual construction projects. An analytical case study research strategy has been implemented in collecting data for the construction projects. The data collected has been tested against recognised models. Statistical analyses have been carried out on the data for the specified variables, culminating in the potential proposal of an improved model with respect to these identified variables. The results revealed that the independent variables (type of construction, procurement route and type of work) affect the cash flow forecast. The findings suggested that a model could be more accurate with the input of more job-specific variables and that Hudson's DHSS model is best suited to a construction project procured traditionally. Adopting the 'trial and error' approach, Hudson's DHSS model has been recognised as an accurate model that could be adapted slightly, through changing the parameter values. The clients and the contractors are the main beneficiaries approached for this study.

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Section: Cash Flow Forecastingmentioning

confidence: 99%

An Investigation on the Improvement of Construction Expenditure Forecasting

Ross

Dalton

Sertyeşilışık

2013

Journal of Civil Engineering and Management

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“…A detailed review of constraints influencing construction of scheduling models can be found in [43,75,76].…”

Section: Quantitative Illustrationmentioning

confidence: 99%

A Survey of Recent Research on Optimization Models and Algorithms for Operations Management from the Process View

Fei

Shen

2017

Scientific Programming

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Over the past decades, optimization in operations management has grown ever more popular not only in the academic literature but also in practice. However, the problems have varied a lot, and few literature reviews have provided an overview of the models and algorithms that are applied to the optimization in operations management. In this paper, we first classify crucial optimization areas of operations management from the process point of view and then analyze the current status and trends of the studies in those areas. The purpose of this study is to give an overview of optimization modelling and resolution approaches, which are applied to operations management.

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“…In another work, constraint programming was also applied by Liu and Wang [11] to propose a profit optimization model for multi-project scheduling problems by considering cash flow and the financial requirements of contractor working in a multi-project environment.…”

Section: Literature Reviewmentioning

confidence: 99%

Condition-Based Building Maintenance Strategy Selection Using Constraint Programming

Liu¹,

Ramadhan²

2017

Proceedings of the International Symposium on Automation and Robotics in Construction (IAARC)

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Abstract-Naturally, buildings will deteriorate during its life cycle. On the other hand, sustainability of building condition is the main objective of providing service for users. Therefore, building maintenance management should be a priority to achieve that objective. In Indonesia, there are many public buildings with different conditions and some of them are not in optimal conditions demanding urgent maintenance treatment. In addition, limited budget and absence of building maintenance decisionmaking tool are among factors causing unmanaged maintenance activities. Moreover, agencies must allocate maintenance budget and prioritize buildings maintenance manually. This paper proposes an optimization mathematical model which adopts Constraint Programming (CP) formulation to assist in selecting the most cost-effective strategy for particular building and determining budget allocation each year. CP is famous on its flexibility to problem declaration that makes scenario analysis conduct effectively. This CP-based model subjects to budget constraint and required condition level. In this case, budget, maintenance strategy options, building deterioration rate, time period, and minimum acceptable building condition are set. There are four maintenance strategy options available, Light Repair, Rehabilitation, Renovation, and Restoration which have different improvement impact for each strategy. Therefore, a case study is conducted to implement the model which involves 15 buildings in a 10-year time of period and two scenarios are presented in this proposed model. The result shows that the two scenarios allocate annual maintenance budget differently depending on diversities of planner management goals.

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Profit Optimization for Multiproject Scheduling Problems Considering Cash Flow

Cited by 48 publications

References 31 publications

An Investigation on the Improvement of Construction Expenditure Forecasting

An Investigation on the Improvement of Construction Expenditure Forecasting

A Survey of Recent Research on Optimization Models and Algorithms for Operations Management from the Process View

Condition-Based Building Maintenance Strategy Selection Using Constraint Programming

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