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FINANCE BASED SCHEDULING OPTIMIZATION FOR CONSTRUCTION PROJECTS PORTFOLIO USING ENHANCED GENETIC ALGORITHM MODEL

Article

Last updated: 13 Dec 2022

Subjects

-

Tags

Portfolio
scheduling
profit
Optimization
genetic algorithm (GA)
FINANCE BASED SCHEDULING OPTIMIZATION FOR CONSTRUCTION PROJECTS PORTFOLIO USING ENHANCED GENETIC ALGORITHM MODEL
ICASGE'21
Construction Management (COM)

Abstract

Recently in the construction industry, Project Portfolio Management (PPM) has become prevalent; it is expected that multiple projects under a single management umbrella will maximize benefits that will not be possible if the projects were managed independently. Although, while multiple projects run in parallel and demand the same resource (cash) simultaneously, which causes an inevitable cash shortage, but the surplus cash in a project will be used to schedule another project. Following this concept in scheduling, all existing and planned projects can be related to the overall liquidity situation of the contractor. So how to determine, manage and balance the right scheduling of projects is crucial to any contractor operating in a multi-project environment. Proper cash-flow management is necessary to ensure that a construction project finishes within time, on budget, and yields a satisfying profit. Poor financial management might put the contractor, in a situation where be unable to finance the project due to insufficient liquidity or engaged in excessive loans to finance the project, decreasing the profit, and creating unsettled debts. The objective of this paper is to present a Finance based Scheduling Optimization using Enhanced Genetic Algorithm Model (FSOEGAM) that aims to maximum profit, minimized financing cost, and minimized extension of work schedule beyond the contract duration at the portfolio level. The model is coded by Python programming language, and it generates an optimal / near optimal work schedule that leads to maximum profit and adjusting the start/finish times of activities in case of a limited /unlimited budget.

Categories

Construction Management (COM)

Keywords

Portfolio, scheduling, profit, Optimization, genetic algorithm (GA)

Authors

First Name

Hamada

Last Name

Kassem

Affiliation

Structural Engineering Department, Faculty of Engineering, Alexandria University, Alexandria, Egypt.

Email

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City

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Orcid

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First Name

Hesham

Last Name

Abd El-Khalik

Affiliation

Structural Engineering Department, Faculty of Engineering, Alexandria University, Alexandria, Egypt.

Email

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City

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Orcid

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First Name

Sherif

Last Name

Hafez

Affiliation

Structural Engineering Department, Faculty of Engineering, Alexandria University, Alexandria, Egypt.

Email

-

City

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Orcid

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Publish Date

14 Jun 2021

Link

https://icasge21.conferences.ekb.eg/article_1047.html

Order

27

Publication Type

Conference

Publication Title

ICASGE'21

Publication Link

https://icasge21.conferences.ekb.eg/

Details

Type

Article

Locale

en

Created At

13 Dec 2022