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Al-Sobiei, O S, Arditi, D and Polat, G (2005) Managing Owner’s Risk of Contractor Default. Journal of Construction Engineering and Management, 131(09), 973–8.
Gambatese, J A, Behm, M and Hinze, J W (2005) Viability of Designing for Construction Worker Safety. Journal of Construction Engineering and Management, 131(09), 1029–36.
Goodrum, P M and Dai, J (2005) Differences in Occupational Injuries, Illnesses, and Fatalities among Hispanic and Non-Hispanic Construction Workers. Journal of Construction Engineering and Management, 131(09), 1021–8.
Harper, D G and Bernold, L E (2005) Success of Supplier Alliances for Capital Projects. Journal of Construction Engineering and Management, 131(09), 979–85.
Jiang, G and Shi, J (2005) Exact Algorithm for Solving Project Scheduling Problems under Multiple Resource Constraints. Journal of Construction Engineering and Management, 131(09), 986–92.
Kilian, J J and Gibson, G E (2005) Construction Litigation for the U.S. Naval Facilities Engineering Command, 1982–2002. Journal of Construction Engineering and Management, 131(09), 945–52.
Mohamed, Y and AbouRizk, S (2005) Technical Knowledge Consolidation using Theory of Inventive Problem Solving. Journal of Construction Engineering and Management, 131(09), 993–1001.
O’Connor, J T and Huh, Y (2005) Crew Production Rates for Contract Time Estimation: Bent Footing, Column, and Cap of Highway Bridges. Journal of Construction Engineering and Management, 131(09), 1013–20.
Riley, D R, Diller, B E and Kerr, D (2005) Effects of Delivery Systems on Change Order Size and Frequency in Mechanical Construction. Journal of Construction Engineering and Management, 131(09), 953–62.
Wibowo, A and Kochendörfer, B (2005) Financial Risk Analysis of Project Finance in Indonesian Toll Roads. Journal of Construction Engineering and Management, 131(09), 963–72.
Yang, I (2005) Chance-Constrained Time–Cost Tradeoff Analysis Considering Funding Variability. Journal of Construction Engineering and Management, 131(09), 1002–12.
- Type: Journal Article
- Keywords: Computer aided scheduling; Stochastic models; Optimization; Project management; Risk management; Uncertainty principles; Time factors; Costs;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)0733-9364(2005)131:9(1002)
- Abstract:
This paper proposes a chance-constrained programming model to incorporate the variability of funding, which is quantified by the coefficient of variation. The proposed model formulates financial feasibility as a stochastic constraint, transforms it into a deterministic equivalent at a prespecified confidence level, and solves the system by means of classical optimization techniques. The time–cost curve generated by the proposed model serves as a foundation for optimizing total project cost. To demonstrate the uniqueness of the proposed model, it is compared to previous approaches through a small building example.