Khosrowshahi, F (1991) Simulation of expenditure patterns of construction projects. Construction Management and Economics, 9(2), pp. 113-132. ISSN 01446193
Abstract
The existing models for project budgeting and forecasting are either alienating to the user, or involve a laborious process of preparation. This is mainly due to the structure of the model, which itself is determined by the approach adopted in developing the model. In this paper, a new approach to model development based on the analysis and examination of the shape of the pattern of project expenditure is described and contrasted with the approaches that have been adopted so far. Also, the procedure for the generation of a model based on the new approach to model development is outlined. This is an attempt to overcome many of the shortcomings associated with the current models, by building on the many advantageous features of these models. It is anticipated that the approach adopted and the accompanying mathematical model can facilitate the provision of a balanced combination of ease of application, user involvement and user comprehension.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cashflow forecasting; growth curves; mathematical modelling; project financial management |
| Index terms: | mathematical model, model development, construction project, forecasting, financial management, project budgeting, mathematical modelling |
| Subjects: | mathematical modelling, analytical methods, prediction and forecasting, economic analysis, cost planning, production management |
| Topics: | Engineering Principles, Research Practice, Project Management, Business Strategy, Cost Management |
| Descriptive scope: | 2 PA |
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