Search results for: Lobna A. Sherif

Authors: Hesham Abdel-Khalek, Sherif M. Hafez, Abdel-Hamid M. el-Lakany, Yasser Abuel-Magd

Abstract:

Investment in a constructed facility represents a cost in the short term that returns benefits only over the long term use of the facility. Thus, the costs occur earlier than the benefits, and the owners of facilities must obtain the capital resources to finance the costs of construction. A project cannot proceed without an adequate financing, and the cost of providing an adequate financing can be quite large. For these reasons, the attention to the project finance is an important aspect of project management. Finance is also a concern to the other organizations involved in a project such as the general contractor and material suppliers. Unless an owner immediately and completely covers the costs incurred by each participant, these organizations face financing problems of their own. At a more general level, the project finance is the only one aspect of the general problem of corporate finance. If numerous projects are considered and financed together, then the net cash flow requirements constitute the corporate financing problem for capital investment. Whether project finance is performed at the project or at the corporate level does not alter the basic financing problem .In this paper, we will first consider facility financing from the owner's perspective, with due consideration for its interaction with other organizations involved in a project. Later, we discuss the problems of construction financing which are crucial to the profitability and solvency of construction contractors. The objective of this paper is to present the steps utilized to determine the best combination of minimum project financing. The proposed model considers financing; schedule and maximum net area .The proposed model is called Project Financing and Schedule Integration using Genetic Algorithms "PFSIGA". This model intended to determine more steps (maximum net area) for any project with a subproject. An illustrative example will demonstrate the feature of this technique. The model verification and testing are put into consideration.

Keywords: Project Management, Large-scale ConstructionProjects, Cash flow, Interest, Investment, Loan, Optimization, Scheduling, Financing and Genetic Algorithms.

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Authors: Refaat H. Abd El Razek, Ahmed M. Diab, Sherif M. Hafez, Remon F. Aziz

Abstract:

Time-Cost Optimization "TCO" is one of the greatest challenges in construction project planning and control, since the optimization of either time or cost, would usually be at the expense of the other. Since there is a hidden trade-off relationship between project and cost, it might be difficult to predict whether the total cost would increase or decrease as a result of the schedule compression. Recently third dimension in trade-off analysis is taken into consideration that is quality of the projects. Few of the existing algorithms are applied in a case of construction project with threedimensional trade-off analysis, Time-Cost-Quality relationships. The objective of this paper is to presents the development of a practical software system; that named Automatic Multi-objective Typical Construction Resource Optimization System "AMTCROS". This system incorporates the basic concepts of Line Of Balance "LOB" and Critical Path Method "CPM" in a multi-objective Genetic Algorithms "GAs" model. The main objective of this system is to provide a practical support for typical construction planners who need to optimize resource utilization in order to minimize project cost and duration while maximizing its quality simultaneously. The application of these research developments in planning the typical construction projects holds a strong promise to: 1) Increase the efficiency of resource use in typical construction projects; 2) Reduce construction duration period; 3) Minimize construction cost (direct cost plus indirect cost); and 4) Improve the quality of newly construction projects. A general description of the proposed software for the Time-Cost-Quality Trade-Off "TCQTO" is presented. The main inputs and outputs of the proposed software are outlined. The main subroutines and the inference engine of this software are detailed. The complexity analysis of the software is discussed. In addition, the verification, and complexity of the proposed software are proved and tested using a real case study.

Keywords: Project management, typical (repetitive) large scale projects, line of balance, multi-objective optimization, genetic algorithms, time-cost-quality trade-offs.

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