Abstracts – Browse Results

Search or browse again.

Click on the titles below to expand the information about each abstract.
Viewing 13 results ...

Abouhamad, M and Zayed, T (2019) Risk-Based Asset Management Framework for Subway Systems. Journal of Construction Engineering and Management, 145(11).

Ahn, C R, Lee, S, Sun, C, Jebelli, H, Yang, K and Choi, B (2019) Wearable Sensing Technology Applications in Construction Safety and Health. Journal of Construction Engineering and Management, 145(11).

Alruwaythi, O and Goodrum, P (2019) A Difference in Perspective: Impact of Different Formats of Engineering Information and Spatial Cognition on Craft-Worker Eye-Gaze Patterns. Journal of Construction Engineering and Management, 145(11).

Cheng, M, Chang, Y and Korir, D (2019) Novel Approach to Estimating Schedule to Completion in Construction Projects Using Sequence and Nonsequence Learning. Journal of Construction Engineering and Management, 145(11).

Demirel, H &, Volker, L, Leendertse, W and Hertogh, M (2019) Dealing with Contract Variations in PPPs: Social Mechanisms and Contract Management in Infrastructure Projects. Journal of Construction Engineering and Management, 145(11).

Esmaeeli, A N and Heravi, G (2019) Real Options Approach versus Conventional Approaches to Valuing Highway Projects under Uncertainty. Journal of Construction Engineering and Management, 145(11).

  • Type: Journal Article
  • Keywords: Highway project; Infrastructure investment; Life-cycle costs; Managerial flexibility; Uncertainty; Ranking of alternatives; Real options; Fuzzy set theory;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0001711
  • Abstract:
    Conventional valuation approaches—discounted cash flow—consider project alternatives as preset scenarios of predefined activities and ignore uncertainty and managerial flexibilities. The real options (RO) approach has been recently used by a large number of researchers to overcome the shortcomings of conventional approaches. This research contributes to the existing body of knowledge by presenting an innovative RO method which models flexible strategies in highway projects valuation under uncertainty through four advances over established studies. First, as well as traffic demand and time value of money, uncertainties about unit rates of agency and user costs are accounted for by a fuzzy approach. Second, flexible strategies are developed by considering the options embedded in the decision-making procedure for initial construction and rehabilitation of pavement. Third, a method is used to develop pavement performance curves based on traffic demand and corresponding effects of each construction activity. Fourth, user costs as well as agency costs are considered in analysis. Results of applying the model in a case study in Iran reveal that conventional valuation approaches may overestimate project life-cycle costs and that, in many cases, the flexibilities modeled by the developed fuzzy RO approach help managers enhance project value.

Feng, Y and Trinh, M T (2019) Developing Resilient Safety Culture for Construction Projects. Journal of Construction Engineering and Management, 145(11).

Franco-Duran, D M and Garza, J M d l (2019) Review of Resource-Constrained Scheduling Algorithms. Journal of Construction Engineering and Management, 145(11).

Hamzeh, F R, El Samad, G and Emdanat, S (2019) Advanced Metrics for Construction Planning. Journal of Construction Engineering and Management, 145(11).

Jang, Y, Jeong, I, Cho, Y K and Ahn, Y (2019) Predicting Business Failure of Construction Contractors Using Long Short-Term Memory Recurrent Neural Network. Journal of Construction Engineering and Management, 145(11).

Khalafallah, A and Shalaby, Y (2019) Change Orders: Automating Comparative Data Analysis and Controlling Impacts in Public Projects. Journal of Construction Engineering and Management, 145(11).

Li, K and Cheung, S O (2019) Unveiling Cognitive Biases in Construction Project Dispute Resolution through the Lenses of Third-Party Neutrals. Journal of Construction Engineering and Management, 145(11).

Prakash, A and Phadtare, M (2019) Exploration of Logic in Project Marketing Using Interpretive Structural Modeling. Journal of Construction Engineering and Management, 145(11).