Abstract
The inherent uncertainty and imprecision in project scheduling have motivated the proposal of several fuzzy set theory based extensions of activity network scheduling techniques. Building upon these, a cash flow calculation methodology for projects including activities with fuzzy durations and/or costs is proposed in this paper. According to the proposed approach, the project cash flow is represented by an S-surface (as opposed to the traditional S-curve) ensuing by connecting S-curves at different risk possibility levels. The methodology is exemplified by estimating the working capital requirements in a real world road construction project. Furthermore, the benefits of the methodology and its subsequent computerization are discussed. It is believed that the proposed approach may also be useful for both evaluating project proposals during feasibility studies and for performing earned value analysis for project monitoring and control.
| Original language | English |
|---|---|
| Pages (from-to) | 374-384 |
| Number of pages | 11 |
| Journal | International Journal of Project Management |
| Volume | 30 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - Apr 2012 |
| Externally published | Yes |
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Keywords
- Cash flow
- Fuzzy project scheduling
- S-curve
- S-surface
ASJC Scopus subject areas
- Business and International Management
- Management of Technology and Innovation
- Management, Monitoring, Policy and Law
Cite this
Project cash flow analysis in the presence of uncertainty in activity duration and cost. / Maravas, Alexander; Pantouvakis, John Paris.
In: International Journal of Project Management, Vol. 30, No. 3, 04.2012, p. 374-384.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Project cash flow analysis in the presence of uncertainty in activity duration and cost
AU - Maravas, Alexander
AU - Pantouvakis, John Paris
PY - 2012/4
Y1 - 2012/4
N2 - The inherent uncertainty and imprecision in project scheduling have motivated the proposal of several fuzzy set theory based extensions of activity network scheduling techniques. Building upon these, a cash flow calculation methodology for projects including activities with fuzzy durations and/or costs is proposed in this paper. According to the proposed approach, the project cash flow is represented by an S-surface (as opposed to the traditional S-curve) ensuing by connecting S-curves at different risk possibility levels. The methodology is exemplified by estimating the working capital requirements in a real world road construction project. Furthermore, the benefits of the methodology and its subsequent computerization are discussed. It is believed that the proposed approach may also be useful for both evaluating project proposals during feasibility studies and for performing earned value analysis for project monitoring and control.
AB - The inherent uncertainty and imprecision in project scheduling have motivated the proposal of several fuzzy set theory based extensions of activity network scheduling techniques. Building upon these, a cash flow calculation methodology for projects including activities with fuzzy durations and/or costs is proposed in this paper. According to the proposed approach, the project cash flow is represented by an S-surface (as opposed to the traditional S-curve) ensuing by connecting S-curves at different risk possibility levels. The methodology is exemplified by estimating the working capital requirements in a real world road construction project. Furthermore, the benefits of the methodology and its subsequent computerization are discussed. It is believed that the proposed approach may also be useful for both evaluating project proposals during feasibility studies and for performing earned value analysis for project monitoring and control.
KW - Cash flow
KW - Fuzzy project scheduling
KW - S-curve
KW - S-surface
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UR - http://www.scopus.com/inward/citedby.url?scp=84856607630&partnerID=8YFLogxK
U2 - 10.1016/j.ijproman.2011.08.005
DO - 10.1016/j.ijproman.2011.08.005
M3 - Article
VL - 30
SP - 374
EP - 384
JO - International Journal of Project Management
JF - International Journal of Project Management
SN - 0263-7863
IS - 3
ER -