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Optimizing Cash Flow of Construction Projects through Material Procurement Plans

Article

Last updated: 13 Dec 2022

Subjects

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Tags

Construction projects
Cash Flow
Material Procurement
Optimization
Genetic Algorithm
Artificial Intelligence
Optimizing Cash Flow of Construction Projects through Material Procurement Plans
ICASGE'23

Abstract

There is a widely held perception in many parts of the world today that the construction industry has long been a major component of the economies of the world industrialized nations. Admittedly, the issue of whether we should attempt to maximize contractor profit is certainly a contentious one. Cash flow management is an umbrella term that aims for achieving many objectives such as cash flow prediction, optimization, and monitoring and controlling. Reliable knowledge of project cash flow is essential for effective project management. Efficient planning of materials procurement and storage on construction sites can lead to significant improvements in construction productivity and project profitability. Nonetheless, researchers have proposed evolutionary-based algorithms for searching near-optimum solutions to overcome this source of trouble. In order to maximize contractor's profit, therefore, this research illustrates a significant optimizing model that nominates the optimum material procurement plans for contracting firm which makes the maximum monthly overdraft is minimum and furthermore, the cumulative expenses is minimum employing Genetic algorithm the magnificent artificial intelligence modeling technique.

Keywords

Construction projects, Cash Flow, Material Procurement, Optimization, Genetic Algorithm, Artificial Intelligence

Authors

First Name

Mahmoud

Last Name

AbuElnasr

Affiliation

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Email

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City

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Orcid

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First Name

Emad

Last Name

Etman

Affiliation

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Email

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City

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Orcid

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First Name

Haytham

Last Name

Sanad

Affiliation

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Email

-

City

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Orcid

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Volume

ICASGE2021

Issue Date

1 Jan 2021

Publish Date

29 May 2022

Link

https://icasge.conferences.ekb.eg/article_1598.html

Order

327

Publication Type

Conference

Publication Title

ICASGE'23

Publication Link

https://icasge.conferences.ekb.eg/

Details

Type

Article

Locale

en

Created At

13 Dec 2022