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Cruz, C O, Marques, R C and Pereira, I (2015) Alternative Contractual Arrangements for Urban Light Rail Systems: Lessons from Two Case Studies. Journal of Construction Engineering and Management, 141(03).

Hwang, S, Park, M, Lee, H, Lee, S and Kim, H (2015) Postdisaster Interdependent Built Environment Recovery Efforts and the Effects of Governmental Plans: Case Analysis Using System Dynamics. Journal of Construction Engineering and Management, 141(03).

Liu, C and Lu, M (2015) Optimizing Earthmoving Job Planning Based on Evaluation of Temporary Haul Road Networks Design for Mass Earthworks Projects. Journal of Construction Engineering and Management, 141(03).

Naderpajouh, N, Hastak, M, Gokhale, S, Bayraktar, M E, Iyer, A and Arif, F (2015) Counterfeiting Risk Governance in the Capital Projects Supply Chain. Journal of Construction Engineering and Management, 141(03).

Obiozo, R N and Smallwood, J J (2015) Biophilic Construction Site Model: Enhancing the Motivational and Humanistic Value of the Green Construction Site. Journal of Construction Engineering and Management, 141(03).

Shuster, W D, Burkman, C E, Grosshans, J, Dadio, S and Losco, R (2015) Green Residential Demolitions: Case Study of Vacant Land Reuse in Storm Water Management in Cleveland. Journal of Construction Engineering and Management, 141(03).

Su, Y and Lucko, G (2015) Synthetic Cash Flow Model with Singularity Functions. I: Theory for Periodic Phenomena and Time Value of Money. Journal of Construction Engineering and Management, 141(03).

Su, Y and Lucko, G (2015) Synthetic Cash Flow Model with Singularity Functions. II: Feasible Prompt Payment Discount Scenarios. Journal of Construction Engineering and Management, 141(03).

  • Type: Journal Article
  • Keywords: Payment; Financial factors; Construction management; Cash flows; Prompt payment discount; Nomograph; Singularity functions; Cost and schedule;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000906
  • Abstract:
    Accurately comparing balances of normal versus discounted cash flow scenarios is the key for project participants to decide whether to offer or accept a prompt payment discount. Such a decision requires determining what rates and periods are acceptable. These values are calculated through a synthetic cash flow model that uses singularity functions. Singularity functions act upon limited ranges, which is ideal for modeling financial phenomena. A signal function is derived that expresses different payment scenarios and considers the time value of money. Research contributions to the knowledge of body include the following: (1) the model can calculate the balance accurately and efficiently; (2) the new approach evaluates the feasible range for a discount from the views of both payee and payer, which is verified with an engineering economics analysis; and (3) a streamlined process for decision making using new types of nomographs is provided, so that project participants can find mutually beneficial payment arrangements.

van Buiten, M and Hartmann, A (2015) Asset Management Perspective on the Duration of Public-Private Partnership Contracts: Cost-Control Trade-off?. Journal of Construction Engineering and Management, 141(03).

Zhao, X, Hwang, B, Pheng Low, S and Wu, P (2015) Reducing Hindrances to Enterprise Risk Management Implementation in Construction Firms. Journal of Construction Engineering and Management, 141(03).