Pyeon, J-H (2005) Development of a simulation model to predict the impact of incentive contracts on transportation construction project time performance. PhD thesis, University of Florida, USA.
Abstract
Many state highway agencies use incentive contracting methods to improve highway construction project time performance. In general, while reducing project construction time will reduce driver inconveniences caused by construction, few studies have been conducted to evaluate the efficiency of incentive contracting for highway construction projects. Thus, this study focused on developing a model to predict incentive project time performance and to suggest approaches to improve project time performance for Florida Department of Transportation (FDOT) highway construction. A decision-support simulation model using Monte Carlo simulation methods was developed to analyze and improve the efficiency of incentive contracting using key factors in FDOT highway construction projects. The simulation results are presented in the form of probability distributions. The model for the incentive project will be a useful tool for FDOT project planners in that, based on historical data, the simulation results give the planners a complete picture of all possible outcomes. Results of each future project will increase the database and improve the predictive power of the model. The present model will answer the following questions about using incentives for FDOT highway construction projects: (1) For a given project situation, how effective were the incentives in improving project time performance? (2) What levels of project time performance can the MOT project planner expect for a specific project situation? and (3) Which variables are the most dominant factors that affect project time performance for an incentive project? Thus, the present model can assist the planners during their decision-making process. In addition, the effective use of incentives will benefit the traveling public by saving them time and unnecessary delays.
| Item Type: | Thesis (Doctoral) |
|---|---|
| Thesis advisor: | Ellis, R D |
| Uncontrolled Keywords: | contracting methods; highway; probability; Monte Carlo simulation; simulation; construction project; incentive contract |
| Index terms: | incentive contract, agency, construction project, time performance, contracting method, Monte Carlo simulation, decision-making process, database, probability distribution, efficiency, construction time, highway construction, planner |
| Subjects: | production management, civil engineering, performance management, statistical analysis, data management, project controls, sociology, decision analysis, profession, contractual arrangements, modelling and simulation |
| Topics: | Research Practice, Roles and Professions, Digital Applications, Time Control, Engineering Principles, Project Management, Procurement, Risk Management, Quality Management |
| Descriptive scope: | 4 PCTA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here