This paper proposes a chance-constrained programming model to incorporate the variability of funding, which is quantified by the coefficient of variation. The proposed model formulates financial feasibility as a stochastic constraint, transforms it into a deterministic equivalent at a prespecified confidence level, and solves the system by means of classical optimization techniques. The time–cost curve generated by the proposed model serves as a foundation for optimizing total project cost. To demonstrate the uniqueness of the proposed model, it is compared to previous approaches through a small building example. - See more at: http://ascelibrary.org/doi/abs/10.1061/(ASCE)0733-9364(2005)131:9(1002)#sthash.IsTDjli5.dpuf
關聯:
Journal of Construction Engineering & Management 131(9), pp.1002-1012
