A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Construction Project Selection and Bernoulli Utility
A method to estimate the value of construction projects is illustrated that in an uncertain environment will result in the maximization of long-run profits to the construction firm. The risk of a project is valued relative to the size of the firm and to the relations between current and proposed projects. The information used is obtained from a subjective or statistical evaluation of the estimates for construction projects and from the balance sheet of the firm. The ways in which the risk of a project changes with diversification and with the progress of current projects are illustrated. An example shows how a firm can apply these methods to select portfolios of construction projects. The computational aspects are stressed.
Construction Project Selection and Bernoulli Utility
A method to estimate the value of construction projects is illustrated that in an uncertain environment will result in the maximization of long-run profits to the construction firm. The risk of a project is valued relative to the size of the firm and to the relations between current and proposed projects. The information used is obtained from a subjective or statistical evaluation of the estimates for construction projects and from the balance sheet of the firm. The ways in which the risk of a project changes with diversification and with the progress of current projects are illustrated. An example shows how a firm can apply these methods to select portfolios of construction projects. The computational aspects are stressed.
Construction Project Selection and Bernoulli Utility
Handa, V. K. (author) / Georgiades, I. F. (author)
Journal of the Construction Division ; 106 ; 355-370
2021-01-01
161980-01-01 pages
Article (Journal)
Electronic Resource
Unknown
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