Abstracts – Browse Results
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Abraham, D M (1990) A state-based framework using indicators for construction monitoring and evaluation, Unpublished PhD Thesis, , University of Maryland, College Park.
Ahrari, A (2012) A decision support system for dynamic integrated project scheduling and equipment operation planning, Unpublished PhD Thesis, , University of Maryland, College Park.
Akar, G (2009) Analysis of activity choice: The role of activity attributes and individual schedules, Unpublished PhD Thesis, , University of Maryland, College Park.
Al-Fadhala, M M (2002) Uncertainty-based condition assessment of existing concrete structures, Unpublished PhD Thesis, , University of Maryland, College Park.
Al-Wazeer, A A-R (2007) Risk-based bridge maintenance strategies, Unpublished PhD Thesis, , University of Maryland, College Park.
Avetisyan, H G (2013) Sustainable infrastructure modeling and policy analyses: Construction, energy and transportation industries, Unpublished PhD Thesis, , University of Maryland, College Park.
Bai, L (2013) RFID sensor-driven structural condition monitoring in integrated building information modeling environment, Unpublished PhD Thesis, , University of Maryland, College Park.
Bender, W J (2000) A risk-based cost control methodology for constructing complex structures with the mobile offshore base as a case study, Unpublished PhD Thesis, , University of Maryland, College Park.
Chelson, D E (2010) The effects of building information modeling on construction site productivity, Unpublished PhD Thesis, , University of Maryland, College Park.
Chen, C-H (2003) Integrated management of highway maintenance and traffic, Unpublished PhD Thesis, , University of Maryland, College Park.
Cheung, M (2017) The antecedents of safety leadership, Unpublished PhD Thesis, , University of Maryland, College Park.
Chung, B (2007) An analysis of success and failure factors for ERP systems in engineering and construction firms, Unpublished PhD Thesis, , University of Maryland, College Park.
Ding, Q (2018) Using social media to evaluate public acceptance of infrastructure projects, Unpublished PhD Thesis, , University of Maryland, College Park.
Eldukair, Z A R (1988) Safety assessment and optimization of construction operations based on fuzzy sets, Unpublished PhD Thesis, , University of Maryland, College Park.
Erfani, A (2023) Data-driven risk modeling for infrastructure projects using artificial intelligence techniques, Unpublished PhD Thesis, , University of Maryland, College Park.
Hao, J X (2007) Infrastructure investment and economic development, Unpublished PhD Thesis, , University of Maryland, College Park.
Hickey, P J (2023) A study of gender diversity in u.S. Architecture, engineering, and construction (AEC) industry leadership, Unpublished PhD Thesis, , University of Maryland, College Park.
Hsu, S-C (2013) A complexity-based approach to intra-organizational team selection, Unpublished PhD Thesis, , University of Maryland, College Park.
Hu, M (2022) Influence of project design team characteristics on construction cost of sustainable buildings, Unpublished PhD Thesis, , University of Maryland, College Park.
Ingraham, A T (2001) Bidder-auctioneer cheating in sealed-bid auctions, Unpublished PhD Thesis, , University of Maryland, College Park.
Jang, W S (2007) Embedded system for construction material tracking using combination of radio frequency and ultrasound signal, Unpublished PhD Thesis, , University of Maryland, College Park.
Karimi, S (2021) A systematic methodology for evaluating and balancing acceptance risks with pay factors for highway construction materials, Unpublished PhD Thesis, , University of Maryland, College Park.
Lessani, A (2016) Decision analysis in construction claims, Unpublished PhD Thesis, , University of Maryland, College Park.
Lu, R (2010) Impacts of local item dependence of testlet items with the multistage tests for pass-fail decisions, Unpublished PhD Thesis, , University of Maryland, College Park.
McCahill, D F (1990) A practical model for simulation of earthwork construction, with applications for scheduling, Unpublished PhD Thesis, , University of Maryland, College Park.
Mohieldin, Y A (1989) Analysis of construction processes with nonstationary work task durations, Unpublished PhD Thesis, , University of Maryland, College Park.
Moore, W B (1989) Modeling the impact of large construction projects on surrounding communities, Unpublished PhD Thesis, , University of Maryland, College Park.
Neely, L E (2017) Project scheduling disputes: Expert characterization and estimate aggregation, Unpublished PhD Thesis, , University of Maryland, College Park.
Negahban, S (2008) Utilization of enterprise resource planning tools by small to medium size construction organizations: A decision-making model, Unpublished PhD Thesis, , University of Maryland, College Park.
Nyakaana Blair, A M A (1999) Risk analysis of cost and schedule of complex engineering systems, Unpublished PhD Thesis, , University of Maryland, College Park.
Ordonez Arizaga, J F (2007) A methodology for project risk analysis using Bayesian belief networks within a Monte Carlo simulation environment, Unpublished PhD Thesis, , University of Maryland, College Park.
Owoyemi, J A (2018) Performance evaluation of higway transportation design-build project delivery: A case study, Unpublished PhD Thesis, , University of Maryland, College Park.
Parvan, K (2012) Estimating the impact of building information modeling (BIM) utilization on building project performance, Unpublished PhD Thesis, , University of Maryland, College Park.
Quadri, H A (2019) Value engineering decisioneering: A risk management tool in the project management office- case study of electricity distribution companies in Nigeria, Unpublished PhD Thesis, , University of Maryland, College Park.
Salgado, C A (2005) Construction project organizational structuring, Unpublished PhD Thesis, , University of Maryland, College Park.
Shafahi, A (2016) Mathematical model and framework for multi-phase project optimization, Unpublished PhD Thesis, , University of Maryland, College Park.
- Type: Thesis
- Keywords: optimization; rationality; uncertainty; revenues; discounted cash flow; programming; scheduling; heuristic; simulation; duration; construction project; capital investment; investment
- ISBN/ISSN:
- URL: https://www.proquest.com/docview/1873165642
- Abstract:
This research aims to assist investors of “real” tangible assets such as construction projects in making an optimal portfolio of phased and regular projects which will yield the best financial outcome calculated in terms of discounted cash flow of future anticipated revenues and costs. We use optimization techniques to find the optimal timing and phasing of a single project that has the potential of being decomposed into smaller sequential phases. Existence of uncertainties is inevitable especially in cases in which we are planning for long durations. In the presence of these uncertainties, full upfront commitment to large projects may jeopardize the rationality of investments and cause substantial economic risks. Breaking a big project into smaller stages (phases) and implementing a staged development is a potential mechanism to hedge the risk. Under this approach, by adding managerial flexibilities, we may choose to abandon a project at any time once the uncertain outcomes are not favorable. In addition to the benefits resulting from hedging unfavorable risks, phasing a project can transform a financially infeasible project into a feasible one due to less load on capital budgets during each time. Once some phases of a project are delayed and planned to be implemented sequentially, it is important to prepare the infrastructure required for their future development. Initially, we present a Mixed Integer Programming (MIP) model for the deterministic case with no uncertainties that considers interrelationships between phases of projects such as scheduling and costs (economy of scales) in addition to the initial infrastructural investment required for implementation of future phases. Pairing possible phases of a project and doing them in parallel is beneficial due to positive synergies between phases but on the downside requires larger capital investments. Unavailability of enough budgets to fully develop a profitable project will cause the investment to be carried out in different phases e.g. during times when the required capital for developing the next phase (or group of phases) is available. After, presenting the model for the deterministic case, we present a scenario-based multi-stage MIP model for the stochastic case. The source of uncertainty considered is future demand that is modeled using a trinomial lattice. We then present two methods for solving the stochastic problem and finding the value of the here and now decision variable (the size of the infrastructure/foundation). Finding the value of the here and now decision variable for all scenarios using a novel technique that does not require solving all the scenarios is the first method. The second method combines simulation and optimization to find good solutions for the here and now decision variable. Lastly, we present a MIP for the deterministic multi-project case. In this setting, projects could have multiple phases. The MIP will help the managers in making the project selection and scheduling decision simultaneously. It will also assist the managers in making appropriate decisions for the size of the infrastructure and the implementation schedule of the phases of each project. To solve this complex model, we present a pre-processing step that helps reduce the size of the problem and a heuristic that finds good solutions very fast.
Sharma, D K (2012) Design of availabilty payment mechanism for public private partnerships, Unpublished PhD Thesis, , University of Maryland, College Park.
Sundararajan, S K (2004) Project performance-based optimal capital structure for privately financed infrastructure projects, Unpublished PhD Thesis, , University of Maryland, College Park.
Tatari, M O (2009) Empirical analysis of construction enterprise information systems: Assessing the critical factors and benefits, Unpublished PhD Thesis, , University of Maryland, College Park.
Vecino, G A (2016) The feasibility of using web-based technology for the management of dredging projects, Unpublished PhD Thesis, , University of Maryland, College Park.
Yang, N (2010) Optimization of highway work zone decisions considering short-term and long-term impacts, Unpublished PhD Thesis, , University of Maryland, College Park.
Zeng, Y (2010) Risk management for enterprise resource planning system implementations in project-based firms, Unpublished PhD Thesis, , University of Maryland, College Park.
Zhao, Y (2023) Sustainability, acceptance risk analysis and machine learning in assessing mechanical properties and the impact of highway materials in transportation infrastructure, Unpublished PhD Thesis, , University of Maryland, College Park.