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Elazouni, A M and Metwally, F G (2007) Expanding Finance-Based Scheduling to Devise Overall-Optimized Project Schedules. Journal of Construction Engineering and Management, 133(01), 86–90.

  • Type: Journal Article
  • Keywords: Financial management; Scheduling; Algorithms; Optimization; Construction management; Contractors;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(2007)133:1(86)
  • Abstract:
    Construction contractors often finance projects using bank credit lines that allow contractors to withdraw money up to certain credit limits. Finance-based scheduling provides schedules that ensure that the contractor’s indebtedness at any time during the construction stage does not exceed the credit limit. Generally, constricted credit limits tend to yield prolonged schedules. Provided that credit limits can be adequately relaxed, compressed schedules of compressed-duration activities can be attained. Devising a compressed schedule calls for the incorporation of time-cost trade-off (TCT) analysis to strike a balance between the decreased overhead costs and the increased direct costs of the activities. Since employing TCT analysis usually causes great fluctuations in the daily resource requirements by mixing compressed-duration activities of high resource demand with others of low resource demand, therefore, the need for resource management techniques becomes inevitable to ensure efficient utilization of resources. This note used genetic algorithms to expand finance-based scheduling to devise schedules for relaxed credit limits. A prototype system was developed and coded using VISUAL BASIC, then demonstrated using a five-activity example project. The prototype was validated by comparing the results with those obtained by using the integer programming. Expanding finance-based scheduling to handle the whole spectrum of credit limits helps devise overall-optimized schedules that consider cash, time, cost, and resources.

Goldenberg, M and Shapira, A (2007) Systematic Evaluation of Construction Equipment Alternatives: Case Study. Journal of Construction Engineering and Management, 133(01), 72–85.

Hanna, A S, Chang, C, Lackney, J A and Sullivan, K T (2007) Impact of Overmanning on Mechanical and Sheet Metal Labor Productivity. Journal of Construction Engineering and Management, 133(01), 22–28.

Jung, Y and Kang, S (2007) Knowledge-Based Standard Progress Measurement for Integrated Cost and Schedule Performance Control. Journal of Construction Engineering and Management, 133(01), 10–21.

Li, Y, Nie, X and Chen, S (2007) Fuzzy Approach to Prequalifying Construction Contractors. Journal of Construction Engineering and Management, 133(01), 40–49.

Liu, L and Zhu, K (2007) Improving Cost Estimates of Construction Projects Using Phased Cost Factors. Journal of Construction Engineering and Management, 133(01), 91–95.

Lucko, G, Vorster, M C and Anderson-Cook, C M (2007) Unknown Element of Owning Costs—Impact of Residual Value. Journal of Construction Engineering and Management, 133(01), 3–9.

Moussa, M, Ruwanpura, J and Jergeas, G (2007) CTAN for Risk Assessments Using Multilevel Stochastic Networks. Journal of Construction Engineering and Management, 133(01), 96–101.

Polat, G, Arditi, D and Mungen, U (2007) Simulation-Based Decision Support System for Economical Supply Chain Management of Rebar. Journal of Construction Engineering and Management, 133(01), 29–39.

Salman, A F M, Skibniewski, M J and Basha, I (2007) BOT Viability Model for Large-Scale Infrastructure Projects. Journal of Construction Engineering and Management, 133(01), 50–63.

Subprasom, K and Chen, A (2007) Effects of Regulation on Highway Pricing and Capacity Choice of a Build-Operate-Transfer Scheme. Journal of Construction Engineering and Management, 133(01), 64–71.