Decision-making support model for reusable construction materials in multiple project management

2009 ◽  
Vol 36 (2) ◽  
pp. 304-319 ◽  
Author(s):  
Juyeoun Han ◽  
Kyungrai Kim ◽  
Sangyoon Chin ◽  
Dongwoo Shin
Keyword(s):  
Decision Making ◽  
Project Management ◽  
Economic Analysis ◽  
Construction Materials ◽  
Decision Making Process ◽  
Head Office ◽  
Construction Company ◽  
Construction Companies ◽  
Procurement System ◽  
Multiple Project Management

Although reusable materials in a construction project need to be specifically managed by the head office of the construction company for proper retrieval and reuse, they are not efficiently managed. In many cases, construction companies treat reusable materials no differently from non-reusable materials. To manage reusable materials for effective and efficient procurement, the current procurement system needs to be improved based on the records of usage from multiple projects monitored and managed by the head office of the construction company. The objective of this paper is to discern and analyze the problems of the procurement process of reusable materials for current multiple projects by following case studies of three construction companies against this background. Based on the analysis, this paper emphasizes the need to implement systems for reusable materials procurement requests, outgoing materials quantity forecasts, and economic analysis for vehicle distribution, as well as the need to expand applicable uses of a resource pool. A model is also proposed to support the decision-making process in the procurement of reusable materials.

scholarly journals Application of Genetic Algorithms for Decision-Making in Project Management: A Literature Review

2019 ◽  
Vol 22 ◽  
pp. 22-31
Author(s):  
Ieva Ancveire ◽  
Inese Poļaka
Keyword(s):  
Decision Making ◽  
Genetic Algorithms ◽  
Project Management ◽  
Human Resources ◽  
Scientific Literature ◽  
Management Decision ◽  
Decision Making Process ◽  
Development Projects ◽  
Management Decision Making ◽  
Available Information

In software development projects, managers still have to face a variety of organisational and technical limitations despite the development of technology and approaches to improve the project management process. Projects, Human Resources and Costs are planned for a specific period of time. However, in the progression of project execution, there is a need to make various decisions and to dynamically adjust the work plan during the project in order to conform to its evolution. Thus, there is a need for a method that employs the latest technology to support the project management decision-making process. The aim and the expected result of the article are to identify and collect available information in the scientific literature to answer the following questions: (1) Which challenges of project management have been addressed using genetic algorithms? (2) What are the opportunities and limitations of genetic algorithms in the project management decision-making process? (3) What are the potential solutions to the identified genetic algorithm problems?

scholarly journals CEO Overconfidence and Corporate Governance in Affecting Australian Listed Construction and Property Firms’ Trading Activity

2021 ◽  
Vol 13 (19) ◽  
pp. 10920
Author(s):  
Mahmoud Hijjawi ◽  
Chyi Lin Lee ◽  
Jufri Marzuki
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Investment Decision ◽  
Decision Making Process ◽  
Real Estate Investment ◽  
Profound Impact ◽  
Construction Companies ◽  
Investment Decision Making ◽  
Corporate Governance Mechanisms ◽  
Property Companies

This paper aims to examine whether and to what extent overconfident CEOs affect Australian real estate investment trusts’ (A-REITs) property investment activities during their tenure as the CEO of A-REITs, covering the period 2000–2019. A-REITs’ property investment and disposal activities are separately modelled against CEOs shares in their companies (an indicator of CEO overconfidence), as well as other controlled variables. We found that around 68% of A-REIT CEOs are overconfident over the study period. However, our empirical results also indicated that CEO overconfidence did not have a profound impact on A-REITs’ investment activities, either property acquisitions or disposals. This could be explained by high corporate governance of A-REITs. Specifically, Australian construction and property companies are the leading market players in sustainability. As publicly quoted companies, listed property and construction companies, particularly A-REITs could be exposed to various managerial issues, including corporate CEO overconfidence and its influence on the investment decision-making process. However, this managerial issue could be minimized via an enhancement of corporate governance that is a key pillar of sustainability. The mitigation of corporate overconfidence and implementation of corporate governance mechanisms makes REITs more accountable to their investors. The implications of the findings have also been discussed.

Project Management in Russian Companies: State of Affairs and Statistical Analysis of Characteristics� Correlation

2015 ◽  
Vol 4 (1) ◽  
pp. 3-12
Author(s):  
������ ◽  
O. Bykova
Keyword(s):  
Decision Making ◽  
Project Management ◽  
Statistical Analysis ◽  
System Organization ◽  
Current Situation ◽  
Decision Making Process ◽  
Russian Market ◽  
Main Factors ◽  
State Of Affairs

The research objective is to analyze the current situation in the field of project management in Russian market and to determine the main factors and depended variables, that influence the decision-making process in the field of project system organization. The research demonstrates the result of surveying 57 companies in the Russian market.

scholarly journals Review of Selected Methods of Supporting Decision-Making Process in the Construction Industry

2016 ◽  
Vol 62 (1) ◽  
pp. 111-126 ◽  
Author(s):  
A. Dziadosz ◽  
A. Kończak
Keyword(s):  
Decision Making ◽  
Construction Industry ◽  
Decision Making Process ◽  
Construction Company ◽  
Advantages And Disadvantages ◽  
New Approaches ◽  
Analyse Data

AbstractThe problems related to construction production are multi-faceted and complex. This has promoted the search for different methods/approaches for analizing the data which supports the decision-making process in the construction industry. In the article the authors focus their attention on well-known methods and tools, and on some new approaches to solving decision-making problems. The aim of the article is to analyze the methods used to analyse data in a construction company, convey their advantages and disadvantages, and specify the degree of efficiency in the discussed area.

scholarly journals Innovation in airport design

Aviation ◽  
2017 ◽  
Vol 21 (1) ◽  
pp. 23-28 ◽  
Author(s):  
Alexander MEDVEDEV ◽  
Iyad ALOMAR ◽  
Slawomir AUGUSTYN
Keyword(s):  
Decision Making ◽  
Project Management ◽  
Decision Making Process ◽  
Management Process ◽  
Future Perspectives ◽  
Essential Information ◽  
Airport Management ◽  
Airport Design

This article discusses the issue of innovation in airport design which is supported by aviation project management. This is why the decision making process on innovation in an airport’s design should correlate with future perspectives in aviation. This process influences a decrease in time and money lost during the period of leading an aviation project. A good result is obtained through selected essential information and analysis of the airport management process in order to achieve efficiency in aircraft operation. What is more, the innovation in airport design is closely related with the safety of aircraft and security of passengers.

scholarly journals THE TRANSFORMATION OF ECONOMIC ANALYSIS AT THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM DURING THE 1960S

2020 ◽  
Author(s):  
Juan Acosta ◽  
Beatrice Cherrier
Keyword(s):  
Decision Making ◽  
Economic Analysis ◽  
Federal Reserve ◽  
Large Scale ◽  
Model Building ◽  
Decision Making Process ◽  
Federal Reserve System ◽  
Board Of Governors ◽  
The 1960S ◽  
Reserve System

In this paper, we build on data on officials of the Federal Reserve System, oral history repositories, and hitherto under-researched archival sources to unpack the tortuous path toward crafting an institutional and intellectual space for postwar economic analysis within the Board of Governors. We show that growing attention to new macroeconomic research was a reaction to both mounting external criticisms against the Fed’s decision-making process, and to the spread of new macroeconomic theories and econometric techniques. We argue that the rise of the number of PhD economists working at the Fed is a symptom rather than a cause of this transformation. Key to our story are a handful of economists from the Board of Governors’ Division of Research and Statistics (DRS) who did not hold a PhD but envisioned their role as going beyond mere data accumulation and got involved in large-scale macroeconometric model building. We conclude that the divide between PhD and non-PhD economists may not be fully relevant to understand both the shift in the typeof economics practiced at the Fed and the uses of this knowledge in the decision making-process. Equally important was the rift between different styles of economicanalysis.

scholarly journals The transformation of economic analysis at the Federal Reserve during the 1960s

2018 ◽  
Author(s):  
Juan Acosta ◽  
Beatrice Cherrier
Keyword(s):  
Decision Making ◽  
Economic Analysis ◽  
Oral History ◽  
Federal Reserve ◽  
Large Scale ◽  
Model Building ◽  
Decision Making Process ◽  
Neoclassical Theory ◽  
Macroeconometric Model ◽  
The 1960S

In this paper, we build on data on Fed officials, oral history repositories and hitherto under-researched archival sources to unpack the torturous path toward crafting an institutional and intellectual space for postwar economic analysis within the Fed. We show that growing attention to new macroeconomic research was a reaction to both mounting external criticisms against the Fed’s decision-making process and a process internal to the discipline whereby institutionalism was displaced by neoclassical theory and econometrics. We argue that the rise of the number of PhD economists working at the Fed is a symptom rather than a cause of this transformation. Key to our story are a handful of economists from the Board of Governor’s Division of Research and Statistics (DRS) who paradoxically did not always held a PhD, but envisioned their role as going beyond mere data accumulation and got involved into large-scale macroeconometric model building. We conclude that the divide between PhD and non-PhD economists may not be fully relevant to understand both the shift in the type of economics practiced at the Fed and the uses of this knowledge in the decision making-process. Equally important was the rift between different styles of economic analysis.

DEVELOPMENT AND USEFULNESS OF PLANNING TECHNIQUES AND DECISION‐MAKING FOUNDATIONS ON THE EXAMPLE OF CONSTRUCTION ENTERPRISES IN POLAND / PLANAVIMO METODAI IR SPRENDIMŲ PRIĖMIMO PAGRINDAI LENKIJOS STATYBOS ĮMONĖSE: NAUDINGUMAS IR TOBULINIMAS

2008 ◽  
Vol 14 (4) ◽  
pp. 492-502 ◽  
Author(s):  
Oleg Kapliński
Keyword(s):  
Decision Making ◽  
Construction Sector ◽  
Planning Techniques ◽  
Construction Company ◽  
Construction Enterprises ◽  
Construction Companies ◽  
Type Size

Three groups of planning techniques and foundations for decision‐making techniques have been identified. Their development tendencies have been indicated, as well as degree of practical usage by Polish construction companies. Two periods: the years 1990 and 2005 have been compared. Data and numbers have been obtained mainly by questionnaires and personal contacts. A relationship between the degree of utilisation of the discussed techniques and the type, size, and legal ownership of a construction company has not been found, in spite of current prosperity trends in the construction sector. A discrepancy between the evaluation of the degree of attractiveness of techniques and methods from the viewpoint of academics and building company managers has been pointed out. Santrauka Identifikuotos trys planavimo metodų ir sprendimų priėmimo pagrindų grupės. Nustatytos jų tobulinimo kryptys ir praktinis pritaikymas Lenkijos statybos įmonėse. Palyginti du periodai – 1990 ir 2005 metai. Duomenys surinkti organizuojant apklausas ir naudojantis asmeniniais kontaktais. Nenustatytas ryšys tarp minėtų priemonių naudojimo intensyvumo ir įmonių tipo, dydžio bei teisinio statuso nepaisant dabartinio statybų verslo klestėjimo. Pastebėtas akademinės visuomenės ir statybos kompanijų vadovų nuomonių nesutapimas planavimo priemonių naudojimo ir patrauklumo klausimais.

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