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Best, R and Langston, C (2006) Evaluation of construction contractor performance: a critical analysis of some recent research. Construction Management and Economics, 24(04), 439-45.

Cheung, F K T and Skitmore, M (2006) A modified storey enclosure model. Construction Management and Economics, 24(04), 391-405.

Huang, Y-L and Chou, S-P (2006) Valuation of the minimum revenue guarantee and the option to abandon in BOT infrastructure projects. Construction Management and Economics, 24(04), 379-89.

Johnson, C, Lizarralde, G and Davidson, C H (2006) A systems view of temporary housing projects in post-disaster reconstruction. Construction Management and Economics, 24(04), 367-78.

Stewart, R A and Spencer, C A (2006) Six-sigma as a strategy for process improvement on construction projects: a case study. Construction Management and Economics, 24(04), 339-48.

Tang, C M, Wong, C W Y, Leung, A Y T and Lam, K C (2006) Selection of funding schemes by a borrowing decision model: a Hong Kong case study. Construction Management and Economics, 24(04), 349-65.

  • Type: Journal Article
  • Keywords: Construction firm; genetic algorithm; loan and finance; optimization
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446190500434906
  • Abstract:

    In financial decision-making, a number of mathematical models have been developed for financial management in construction. However, optimizing both qualitative and quantitative factors and the semi-structured nature of construction finance optimization problems are key challenges in solving construction finance decisions. The selection of funding schemes by a modified construction loan acquisition model is solved by an adaptive genetic algorithm (AGA) approach. The basic objectives of the model are to optimize the loan and to minimize the interest payments for all projects. Multiple projects being undertaken by a medium-size construction firm in Hong Kong were used as a real case study to demonstrate the application of the model to the borrowing decision problems. A compromise monthly borrowing schedule was finally achieved. The results indicate that Small and Medium Enterprise (SME) Loan Guarantee Scheme (SGS) was first identified as the source of external financing. Selection of sources of funding can then be made to avoid the possibility of financial problems in the firm by classifying qualitative factors into external, interactive and internal types and taking additional qualitative factors including sovereignty, credit ability and networking into consideration. Thus a more accurate, objective and reliable borrowing decision can be provided for the decision-maker to analyse the financial options.

Thomas, A V, Kalidindi, S N and Ganesh, L S (2006) Modelling and assessment of critical risks in BOT road projects. Construction Management and Economics, 24(04), 407-24.

Wong, J T Y and Hui, E C M (2006) Construction project risks: further considerations for constructors' pricing in Hong Kong. Construction Management and Economics, 24(04), 425-38.