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Finance-based scheduling of multiple construction projects using multiobjective evolutionary algorithms

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

3 Scopus citations

Abstract

Financing construction projects is a crucial challenge for contractors in order to run sustained business. Being a concern of the whole corporate rather than the individual projects, contractors manage financing at the corporate level. Contractors finance projects mainly through the owners' progress payments supplemented by fund procured through establishing credit-line accounts. Given the facts that owners actually pay after the accomplishment of the work while retaining some money, and the cash that contractors can withdraw from credit lines is limited in amount, contractors often operate under cash-constrained conditions. Thus, the premise that the best proactive approach of financial planning contractors can follow is to schedule construction activities based on the available finance is strongly advocated. The finance-based scheduling makes the expenditures of the activities during a given period in balance with the available cash during the same period. A Strength Pareto Evolutionary Algorithm (SPEA) is proposed and employed to device a set of optimum finance-based schedules of multiple projects being implemented simultaneously.

Original languageEnglish
Title of host publicationCanadian Society for Civil Engineering Annual Conference 2009
Pages1025-1034
Number of pages10
StatePublished - 2009

Publication series

NameProceedings, Annual Conference - Canadian Society for Civil Engineering
Volume2

ASJC Scopus subject areas

  • General Engineering

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