Showing papers in "Engineering, Construction and Architectural Management in 2001"
241 citations
TL;DR: In this article, the authors explore the problems of transferring and applying new management ideas to the construction industry and the impact that institutional factors have on the diffusion and application of knowledge via the creation of particular industry agendas and frames of reference.
Abstract: Recent interest in the UK construction sector in innovative management practices such as partnering, continuous improvement and benchmarking have raised long‐standing questions about the transferability of new management ideas from other industrial sectors into construction. Informed in part by the author's own research into partnering in the UK, this paper sets out to explore the problems of transferring and applying new management ideas to the construction industry. However, rather than simply restricting the discussion to the perennial (and perhaps unanswerable) question of whether or not the construction industry actually is different, this paper goes much further by examining the nature of knowledge diffusion and application processes. Three main themes are highlighted and their implications assessed. First, the many inherent problems and limitations associated with relying on models of ‘best practice’ drawn from other industrial sectors. Second, the highly socialized and politicized nature of supposedly rational processes of knowledge diffusion and implementation. Third, the impact that institutional factors have on the diffusion and application of knowledge via the creation of particular industry agendas and frames of reference.
138 citations
TL;DR: There is a future for increased standardization, but only if the industry recognizes the unique aspects of each client and responds positively to meet those needs.
Abstract: This paper presents the results from interviews of 59 senior personnel from major construction clients. There are two main themes: client drivers for construction projects and their implications for standardization of processes and components. The client sample is described and reasons for procuring construction projects are established along with the extent of their involvement in the construction process and hence their ability to influence the outcomes. Their views on value for money, preconceptions of standardization and their opinion on its future potential are explored. Many clients recognize the need to involve constructors and manufacturers early, although fewer actually achieve this. Misconceptions about standardization exist, but many clients are recognizing the benefits possible from standardization. However, very few actually measure benefits and so are unable to truly evaluate success. There is a future for increased standardization, but only if the industry recognizes the unique aspects of each client and responds positively to meet those needs.
100 citations
TL;DR: In this paper, the authors present a conceptual model of construction partnering, which explores the relationship between two types of partnering (project and strategic) by studying the key factors that affect the partnering process stages.
Abstract: This paper presents the development of a conceptual model of construction partnering. This model aims at exploring the relationship between two types of partnering (project and strategic) by studying the key factors that affect the partnering process stages. It also helps to determine the critical success factors (CSFs) of the two types of partnering. The paper commences by reviewing the literature on project and strategic partnering to develop the conceptual model. A survey was conducted to test the model. Results indicate that there are some critical factors (i.e. top management support, mutual trust, open communication, and effective co‐ordination) affecting both types of partnering, while some are specific to project (i.e. facilitator) or strategic partnering (i.e. long‐term commitment, continuous improvement, learning climate, and partnering experience). Practical implications are given to advise how to facilitate the implementation of partnering. Future research directions are also given to suggest how to improve our understanding of the concept of partnering.
99 citations
TL;DR: In this article, the evidential reasoning (ER) approach is applied as a means of solving the contractor selection problem (CSP), in which both quantitative and qualitative information is represented in a unified manner.
Abstract: Selecting the ‘best’ main contractor is a complex decision process for construction clients. It requires a large number of criteria to be simultaneously measured and evaluated. Many of these criteria are related to one another in a complex way and therefore, they very often conflict insofar as improvement in one often results in decline of another(s). Furthermore, as contractors' attributes are expressed in both quantitative and qualitative terms, decision‐makers have to base their judgements on both quantitative data and experiential subjective assessments. In this paper, the evidential reasoning (ER) approach (which is capable of processing both quantitative and qualitative measures) is applied as a means of solving the contractor selection problem (CSP). The process of building a multiple criteria decision model of a hierarchical structure is presented, in which both quantitative and qualitative information is represented in a unified manner. The CSP is then fully investigated using the ER approach. Bo...
98 citations
TL;DR: In this paper, a product development focus is advocated in reintegrating segregated groups and in empowering and inspiring the innovations that are needed to achieve the dramatic productivity gains now demanded from the construction industry.
Abstract: The heightened state of flux in the construction industry in general and construction procurement strategies in particular, provides welcome opportunities to inject innovative improvements. While some improvements are generated from within the construction industry itself, these evolve sluggishly along prolonged learning curves. These are compared with lessons to be learnt and examples to be drawn from manufacturing in the development of a marketable product. A product development focus is thus advocated in re‐integrating segregated groups and in empowering and inspiring the innovations that are needed to achieve the dramatic productivity gains now demanded from the construction industry.
73 citations
TL;DR: In this paper, the authors investigate the use of a multi-criteria selection (MCS) approach in the tenderer evaluation process and compare it with the traditional lowest-price-win strategy.
Abstract: The ‘lowest‐price wins’ philosophy has been a consistent theme of contractor selection over the years. To comprehensively elucidate this selection preference and compare it with the use of a multi‐criteria selection (MCS) approach in the tenderer evaluation process, this paper investigates MCS tender price selection preferences. That is, project‐specific criteria (PSC) and lowest‐price wins selection practices of UK construction clients, in both building and civil engineering works at in detail via results of the empirical survey. The investigation provides further insight into the evaluation of contractors' attributes (i.e. PSC). Levels of importance assigned (LIA) for each criterion were analysed (i.e. quantitative analysis of the differences in opinions and, variance amongst the respondents) in a multivariate statistical method. Importance attached by construction clients to the ‘lowest‐price wins’ philosophy is also presented. Contrast was made between the MCS approach and the ‘lowest‐price wins’ option amongst the surveyed construction clients. It was found that increased awareness of the use of PSC prevailed amongst the survey construction clients. This indicated that cost has to be tempered with the evaluation of PSC and the attempt of construction clients searching for a new evaluation paradigm (i.e. adoption of MCS approach rather than basing on the lowest‐price wins alone).
73 citations
TL;DR: The greatest challenge facing construction executives is how to manage their intellectual capital The business environment has now entered a knowledge era, where knowledge has become power and learning rapidly and competently has become a pre-eminent strategy for success Thus, knowledge is rapidly becoming more important to organizations than financial resources, market positions, technology and other tangible assets as discussed by the authors.
Abstract: The greatest challenge facing construction executives is how to manage their intellectual capital The business environment has now entered a knowledge era, where knowledge has become power and learning rapidly and competently has become a pre‐eminent strategy for success Thus, knowledge is rapidly becoming more important to organizations than financial resources, market positions, technology and other tangible assets However, the management of intellectual capital is still an under‐charted territory within construction organizations Managing know‐how, know‐what, know‐why is unlike managing finances or construction plant, yet intellectual
71 citations
TL;DR: In this paper, the authors focus on the need for improvement of the efficiency of claims negotiation and suggest the use of multiagent systems as an approach to achieve it, and discuss the potential benefits of the suggested approach.
Abstract: Disputes are now considered endemic in the construction industry. They often arise from the poor resolution of claims in the course of construction projects. Efforts have been geared towards reducing the incidence of claims. These efforts are of two kinds: those that seek answers from basic principles and legal issues at the pre‐construction phase and those that attempt to solve the problems through claims management procedures at the construction phase. This paper reviews the developments in claims management and highlights the deficiencies in current claims management approaches. It focuses on the need for improvement of the efficiency of claims negotiation and suggests the use of multiagent systems as an approach to achieve it. The potential benefits of the suggested approach are discussed in the concluding section of the paper.
52 citations
TL;DR: In this article, the authors identify whether prescriptive procurement guidance was adhered to on a set of case study projects and find that clients usually selected appropriate procurement systems, and where an inappropriate system was selected, alterations were made in contract form to incorporate aspects of the best procurement route.
Abstract: Today there are a number of different types of procurement routes available for clients to choose from. Each different type of procurement (traditional, design and build, management, etc.) has its own proponents and inherent strengths and weaknesses. Selection of optimal procurement systems is difficult, because even experienced clients cannot know all the potential benefits or risks for each system. Procurement is, therefore, a succession of ‘calculated risks’. Industry and academia have focussed research on reducing procurement risk through better procurement‐system selection methods. Current research considers procurement as a set of rationalistic decisions within a closed environment, aiming to produce generic, prescriptive rules for clients and advisers to use to select the ‘best’ procurement route for their project. This paper seeks to identify whether prescriptive procurement guidance was adhered to on a set of case study projects. It was found that clients usually selected appropriate procurement systems, and where an inappropriate system was selected, alterations were made in contract form to incorporate aspects of the ‘best’ procurement route.
49 citations
TL;DR: In this article, a learning model is developed and incorporated into line-of-balance (LOB) calculations to optimize resource allocation by using multiples of the natural rhythm of activities.
Abstract: Although line‐of‐balance (LOB) scheduling can be superior to bar charts and networks in repetitive‐unit construction, there are indications that its use is not widespread. In this study, the major limitations of the existing LOB methodology are identified and then eliminated by developing a computer program called repetitive unit scheduling system (RUSS). An effective algorithm that facilitates the implementation of LOB scheduling is developed. A tool that handles logical and strategic limitations caused by the particular characteristics of repetitive activities is provided. A learning model is developed and incorporated into LOB calculations. The program is designed to optimize resource allocation by using multiples of the natural rhythm of activities. An optimum crew size that guarantees maximum productivity in an activity is used throughout the LOB calculations to achieve cost‐optimized schedules. Non‐linear and discrete activities are incorporated into the LOB calculations. RUSS displays the LOB diagr...
TL;DR: In this article, a study theoretically assessed effectiveness as well as the deficiencies of the traditional cost control systems vis-a-vis the effectiveness of the effective cost control system, by contrasting what are found in the effective and traditional systems and identifying the critical attributes most contributing to the systems' successfulness.
Abstract: The most important function that facilitates construction organizations to accomplish profit maximization is cost control. However, the absence of a well‐established cost control system has caused failures to many Thai contractors especially during the current economic recession period. To comprehensively understand cost control systems in practice, this study theoretically assessed effectiveness as well as the deficiencies of the ‘traditional’ systems vis‐a‐vis the ‘effective’ systems. In addition, by contrasting what are found in ‘effective’ systems but not found in ‘traditional’ systems, critical attributes most contributing to the systems' successfulness were identified so that the improvement steps can be suitably prioritized. The validated findings indicated remarkable contrasts between ‘traditional’ and ‘effective’ systems. Two critical aspects, including advancement of cost control framework and systematic participation of site personnel in cost control, were found to be the major differences. Interestingly, similar conditions were encountered in various countries such as Greece, Pakistan and Australia; hence suggestions from this study could be internationally useful.
TL;DR: In this article, a study on the role of ISO 9000 implementation in the quality development of Singapore's construction industry by ascertaining the perceptions, objectives, motivations and experiences relating to quality in general, and to ISO 9000 certification and implementation in particular was conducted.
Abstract: The construction management literature discusses the benefits which companies derive from having their operations certified to the ISO 9000 series of quality management systems (QMS). In Singapore, quality has been a topical issue in the construction industry for the past decade. ISO 9000 certification, which has been a major part of the construction quality development programme, is now mandatory for large construction contracting and consultancy organizations wishing to register to undertake public‐sector projects. This paper reports on a study on the role which ISO 9000 implementation plays in the quality development of Singapore's construction industry by ascertaining the perceptions, objectives, motivations and experiences (including benefits and problems) relating to quality in general, and to ISO 9000 certification and implementation in particular. A questionnaire‐based survey of large construction companies was conducted. It was found that construction firms benefit from QMS certification, and face no significant problems with it. Recommendations are made for enhancing the benefits of ISO 9000 and ensuring that it has a positive long‐term impact on the development of Singapore's construction industry.
TL;DR: In this article, a behavioural model of the partnering culture is presented, which is based on the Confucian concept of self-cultivation and the central role of goal setting at strategic and project levels.
Abstract: Researchers have written extensively on the partnering approach in project procurement. Some emphasize it as a process, i.e. how it works in terms of the project structure, signing of agreements, etc., and others emphasize the nature of the partnering culture dimensions, i.e. how it works in terms of operating in trust and harmony. It is postulated that the Confucian concept of self‐cultivation is central to the development of the values of trust and harmony. Western perspectives on the partnering culture are relatively abundant in writing; the intention of this paper is to complement existing literature with an Eastern perspective to develop a behavioural model of partnering. This paper examines the partnering dimensions and postulates that an understanding of (1) the Eastern concept of self and self‐cultivation, and (2) the central role of goal setting at strategic and project levels will enhance goal attainment in partnering.
TL;DR: In this paper, the authors report on empirical research that identified the contributions of specialty contractor (SO) knowledge to early design, which led to gains in process efficiency and improvements in product quality These contributions are categorized and illustrated by means of examples that stem from current practice or present potential opportunities for improvement.
Abstract: Specialty contractors have knowledge to contribute to the early design of architecture, engineering, and construction (AEC) products In current practice, however, they are seldom involved in early design, but evidence suggests that their early involvement is increasing Lean construction theory advocates such involvement The practice of involving suppliers in product development efforts and manufacturing has proven to be highly successful The paper reports on empirical research that identified the contributions of specialty contractor (SO knowledge to early design, which led to gains in process efficiency and improvements in product quality These contributions are categorized and illustrated by means of examples that stem from current practice or present potential opportunities for improvement Reasons are given why SC knowledge is often ignored in design Changes in AEC practices nevertheless suggest that organizations are creating conditions to increase interaction between designers and SCs Such interactions will help AEC organizations to retain and share the knowledge of individuals as well as learn to develop new knowledge
TL;DR: In this paper, the authors provide a framework for comparing construction management contracts in the UK and the US construction practices by reviewing previous studies on UK and US contracting practices and explores the main delivery methods, inform of comparison with construction management contracting systems.
Abstract: This study provides a framework for comparing construction management contracts in the UK and the US construction practices. It starts by reviewing previous studies on UK and US contracting practices and explores the main delivery methods, inform of comparison with construction management contracting systems. It examines construction management contracting types, processes and procedures and interaction between the construction manager and other stakeholders. This study was based on a literature review and the result shows the similarities and differences between the American and British CM systems within each practice and between both practices; the distribution of responsibilities and risks both in pre‐construction and during the construction stages; and allocation of responsibility in both practices.
TL;DR: In this paper, an investigative survey was carried out to evaluate the relationship between motivation at work and gender in the construction industry and concluded that there was no statistically significant difference in total motivation and demotivation levels between male and female employees.
Abstract: As a result of sustained gender imbalance in the construction industry, research continues in the fields of attraction and retention of female employees. In Melbourne, Australia, an investigative survey was carried out to evaluate the relationship between motivation at work and gender. The survey also aimed to ascertain if professional men and women in the construction industry were motivated and demotivated by the same variables. The research concluded that there was no statistically significant difference in total motivation and demotivation levels between male and female employees. There were, however, significant differences with regard to the perceived attractiveness and unattractiveness of certain work place and job characteristics. Some characteristics were not gender discriminatory in their unattractiveness. Evidence presented in this paper can lead to a useful re‐appraisal of how the construction industry can create a more attractive workplace environment that entices more employees of either gender to remain in the industry.
TL;DR: In this article, the authors examined how project management companies saw their role, their experiences of managing construction projects and made suggestions for improving relationships in the New Zealand construction industry, finding that the fundamental problems faced were relationship-based.
Abstract: With the proliferation of clients using a separate project management company to manage construction projects, a number of problems arise. This paper analyses the problems found by project management companies when managing construction projects in New Zealand. The fundamental problems faced were relationship‐based. The research in this paper found that project management companies need to overcome problems in their relationships with other professionals on the project team and with the client. The paper discusses these problems using data collected from a survey to project management companies in the New Zealand construction industry. The research in this paper examined how project management companies saw their role, their experiences of managing construction projects and makes suggestions for improving relationships. This research suggests that the problems faced by companies in New Zealand are likely to be global and therefore any solution suggested can be applied to other countries.
TL;DR: The nature, status and role of bid cutting in construction bidding are examined from economic, legal, ethical and management perspectives and some possible means of countering its negative effects are considered.
Abstract: The nature, status and role of bid cutting in construction bidding are examined from economic, legal, ethical and management perspectives. Some possible means of countering its negative effects are considered including prohibition by legislation, the use of bid depositories, earlier formalization of subcontracts, withdrawal of subcontract prices and through alternative procurement methods. An empirical survey of bid cutting practice is described involving a sample of main contractors (MCs) and subcontractors (SCs) in Southeast Queensland. The practice of bid cutting was found to be widespread. All the MCs considered the practice to be ethical and all the SCs considered it to be unethical. In some cases, MCs awarded contracts elsewhere, even after telling SCs they had the job. Most of the SCs had tried individually to counteract bid cutting but were unable to continue this while others were complying with MC bid cutting attempts. SC bid withdrawals are very rare and litigation is never applied by either MCs or SCs. Mainly as a result of incomplete project documentation, MCs disliked the idea of making the subcontract binding at the time of main contract bid subject to its success, although it was generally recognized that it would reduce bid cutting by the MC‐a view that was also shared by half the SCs. Most respondents thought the construction management procurement option might reduce bid cutting but none had sufficient direct experience to be sure.
TL;DR: In this paper, the authors describe the development and initial use of a management game to teach project planning and control, including its design, the choice of the project to be modelled, the user interface and how it makes use of the computer power available.
Abstract: This paper describes the development and initial use of a management game to teach project planning and control. It covers all aspects of the game including its design, the choice of the project to be modelled, the user interface and how it makes use of the computer power available. The sections on the use of the game describe experience gained in its use as part of an undergraduate course and as a demonstration on a course run for industry. Both the design and the use of the game are critically assessed and suggestions for improvement are made. The game was produced as a result of international collaboration between British and Dutch academics with input, where appropriate from construction companies of both nations.
TL;DR: In this paper, the authors proposed a design and build (D/B) procurement method, which allows the client to introduce the contractor's design at any stage resulting in the possibility of having different levels of initial scope establishment.
Abstract: Traditional construction procurement is generally used for projects with no unusual features and a well‐established scope. In this method, work progresses sequentially because each step is completed before the next step is started. As such, making changes during construction is problematic and expensive. Design and build (D/B) method allows the client to introduce the contractor's design at any stage resulting in the possibility of having different levels of initial scope establishment. Consequently, the project can gain benefit through buildability and the integration of design and construction. The client's main criteria for selecting D/B procurement are to reduce the time and cost of projects through one point responsibility. Factors that are related to time and cost performance include: the completeness of the client's brief (the level of initial scope establishment by the client), changes made to the project by the client, the stage and manner in which the changes are reffected, degree of project dif...
TL;DR: In this paper, interviews were carried out with three leading construction companies in Australia to examine the HR needs of the companies by identifying the HRrelated functions and activities conducted, the internal and external users of HR information, the type of data needed, and the specific purpose of those data.
Abstract: The casual nature of employment in the construction industry makes planning human asset requirements a vague exercise. Human resource information systems (HRISs) offer a means of coping with these problems through improvements in the reliability, accuracy and accessibility of the human resources (HR) information. Aimed at improving the understanding of construction HRISs, interviews were carried out with three leading construction companies in Australia. The HR needs of the companies were examined by identifying the HR‐related functions and activities conducted, the internal and external users of HR information, the type of data needed, and the specific purpose of those data. Twenty‐three HR activities were identified and grouped into seven major functions: project management and control, strategic planning, review and analysis, employee profile, employee performance, HR development, payroll and accounting support, and information systems outside the company. The HR information for each function was established. The findings of this study may facilitate the development of a HRIS for construction companies.
TL;DR: The study shows that a common ontology facilitates interaction and negotiation between agents and other distributed systems, and gives recommendations on developing agent‐based systems for collaborative design and decision‐support in the construction sector.
Abstract: Domain ontologies facilitate sharing and re‐use of data and knowledge between distributed collaborating systems. A major problem in the design and application of intelligent systems is to capture and understand: the data and information model that describes the domain; the various levels of knowledge associated with problem solving; and the patterns of interaction, information and data flow in the problem solving space. This paper reports the development of an ontology for agent‐based collaborative design of portal structures, using knowledge acquisition techniques and tools. It illustrates the application of the ontology in the development of a prototype multi‐agent systems. The study shows that a common ontology facilitates interaction and negotiation between agents and other distributed systems. The paper discusses the findings from the knowledge acquisition, their implications in the design and implementation of multi‐agent systems, and gives recommendations on developing agent‐based systems for collaborative design and decision‐support in the construction sector.
TL;DR: In this article, the authors describe four methods of dealing with delay claims that effectively sum up the main approaches to this problem that have been offered in the literature and discuss results from a new survey aimed at finding out exactly how professionals in the UK construction industry approach these difficult issues.
Abstract: The paper describes four methods of dealing with delay claims that effectively sum up the main approaches to this problem that have been offered in the literature. This is then followed by a description and discussion of results from a new survey aimed at finding out exactly how professionals in the UK construction industry approach these difficult issues. It appears that those who deal with delay claims in the UK are likely to use a critical path method network to do this and generally approve of a methodology that attempts to understand how well the contractor would have fared ‘but for’ the existence of employer‐responsible delays. There is less agreement about who should be said to own the float, but as is explained in the paper, it is possible for this matter to be dealt with by the insertion of a clause in the contract documents.
TL;DR: The findings from a survey of attitudes amongst professional and trade groups in the UK construction industry in relation to the use of hybrid concrete construction (HCC) are reported in this article.
Abstract: The findings from a survey of attitudes amongst professional and trade (PT) groups in the UK construction industry in relation to the use of hybrid concrete construction (HCC) are reported in this paper. Following a brief introduction to HCC, the context of the research presented here is explained. An account of the research methods used in the project is given, together with guidance on appropriate techniques for interviewing professional and trade groups in the construction industry. The findings from the survey are divided into two sections: areas of consensus and areas of disagreement. Conclusions are drawn relating to the future design, procurement and construction of buildings that incorporate HCC.
TL;DR: In this article, a cross-profession comparison regarding perceptions of various professionals towards professional ethics is proposed as the first step in professional ethics inquiry, and the authors argue that concepts and perceptions of professional ethics result from the prolonged professional socialization process during both college/university and industry training.
Abstract: This paper proposes conducting extensive cross‐profession comparison regarding perceptions of various professionals towards professional ethics as the first step in professional ethics inquiry. The authors argue that concepts and perceptions of professional ethics result from the prolonged professional socialization process during both college/university and industry training. Differences in professional ethics conceptions both within and between professions can be ascribed to differences in training. For college/university training these differences may lie in varying professional course contents and arrangements, diverse educational professional development (CPD) courses offered by various professional institutions, codes of conduct drafted by professional institutions and corporations, personal work experience may account for these differences. However, this pluralist explanation of these differences is not the end of the inquiry, but rather explicitly points to the difficulty of resolving the conceptual array in professional ethics inquiry.
TL;DR: In this paper, a survey of contractors from three European countries (UK, France and Germany) was conducted to investigate the comparative performance and practices of construction contractors from these three countries.
Abstract: International research concerning the comparative performance and practices of construction contractors from three European countries (UK, France and Germany) has been previously reported. The research has recently been extended to include Australian construction companies, thereby providing the potential for further exploring international contractor performance, the results of which are herein presented. The research methodology involves a questionnaire survey of contractors whereby a hypothetical high rise in situ concrete building is presented to respondents. Participants of the survey are asked to provide various performance data and preferred construction practices for this building. Results suggest that French contractors acquire the fastest construction speeds closely followed by those from Australia. Construction practices are similar in the UK and Australia, which contrast with French and German practice whose preferences were also found to be different. Findings suggest Australian contractors achieve higher levels of performance than those from the UK whilst implementing similar practices. Further research is needed to investigate the cause of the performance disparity found to exist in these two countries.
TL;DR: An insight is provided into the principles of modelling project durations using neurofuzzy methods and the main issues concerning their use and application in construction management are discussed.
Abstract: Construction projects' duration can be modelled using traditional and artificial intelligence methods. The first part of these two papers provides an insight into the principles of modelling project durations using neurofuzzy methods. This paper presents an understanding of how these methods operate and discusses the main issues concerning their use and application in construction management. An introduction to the problems of modelling and predicting construction projects' duration is first presented. This is followed by explaining the neurofuzzy life cycle modelling process and discussing methods for modelling projects' duration. A graphical presentation of the way in which neurofuzzy methods operate is also presented and discussed.
TL;DR: In this paper, the authors looked at the reasons for filtering information coming into the office and the mechanisms used to achieve these objectives Interviews with partners of architectural practices and their receptionists, together with views from a number of trade representatives helped to identify and illustrate issues concerning the relationship between manufacturers and designers.
Abstract: Communication of information from manufacturer to design office is important in raising specifiers' awareness of new building products and product improvements Efficacy of this process will influence the uptake of innovations, yet the small amount of published research suggests that professionals operate managerial systems, both to limit the volume and to control the quality of this information, in an attempt to ensure its relevance to specifiers in their offices The research reported here looked at the reasons for filtering information coming into the office and the mechanisms used to achieve these objectives Interviews with partners of architectural practices and their receptionists, together with views from a number of trade representatives helped to identify and illustrate a number of issues concerning the relationship between manufacturers and designers Combined, the interviews provide a valuable insight on an area largely neglected by researchers, yet a vital part of the specification process
TL;DR: In this paper, a recurrent neural network (RNN) model that integrates multi-objective linear programming and neural network techniques has been developed to model the multiproject cash flow decisions in a contracting firm.
Abstract: Modelling of the multiproject cash flow decisions in a contracting firm facilitates optimal resource utilization, financial planning, profit forecasting and enables the inclusion of cash‐flow liquidity in forecasting. However, a great challenge for contracting firm to manage his multiproject cash flow when large and multiple construction projects are involved (manipulate large amount of resources, e.g. labour, plant, material, cost, etc.). In such cases, the complexity of the problem, hence the constraints involved, renders most existing regular optimization techniques computationally intractable within reasonable time frames. This limit inhibits the ability of contracting firms to complete construction projects at maximum efficiency through efficient utilization of resources among projects. Recently, artificial neural networks have demonstrated its strength in solving many optimization problems efficiently. In this regard a novel recurrent‐neural‐network model that integrates multi‐objective linear programming and neural network (MOLPNN) techniques has been developed. The model was applied to a relatively large contracting company running 10 projects concurrently in Hong Kong. The case study verified the feasibility and applicability of the MOLPNN to the defined problem. A comparison undertaken of two optimal schedules (i.e. risk‐avoiding scheme A and risk‐seeking scheme B) of cash flow based on the decision maker's preference is described in this paper.