Pareto Optimal Decisions in Multi-Criteria Decision Making Explained with Construction Cost Cases

Anysz, Hubert; Nicał, Aleksander; Stević, Željko; Grzegorzewski, Michał; Sikora, Karol S.

doi:10.3390/sym13010046

Cited by 34 publications

(23 citation statements)

References 69 publications

(47 reference statements)

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“…The ABC analysis is based on the Pareto principle [18].Using the ABC method,it is possible to calculate direct and indirect costs more accurately, and match them with the corresponding cost objectives. ABC analysis is one of the stages of functional cost analysis.…”

Section: Methodsmentioning

confidence: 99%

Cost management of a construction company based on functional cost analysis

2021

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In conditions of environmental instability and uncertainty, one of the factors for the effective functioning and development of a construction company is high-quality and continuous cost management. The cost management process is aimed at maximizing profits by increasing the efficiency of the use of all resources. It requires constant monitoring to make adjustments to the planned costs and their amounts. Cost management is impossible without careful analysis. Along with the traditional methods of cost management, it is advisable for construction companies to apply functional cost analysis, which is an effective tool for optimizing costs and the quality of production functions performance. The research studies a construction company. Particular attention in the study is paid to indirect costs due to an increase in their share in the structure of the construction products cost. Within the framework of the functional cost analysis, an ABC analysis was carried out and a Pareto curve was modelled. It allowed us to focus on the allocated cost areas and classify the processes into main, basic and supportive ones. The significance of the identified processes was determined using the paired comparisons method. The results obtained allow us to draw a conclusion about the correspondence of the share of cost items and their significance for the analyzed construction company. The research materials are of interest and practical importance for the CEOs of construction companies.

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Section: Methodsmentioning

confidence: 99%

Cost management of a construction company based on functional cost analysis

2021

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“…Then, the database created-named as mod-1-is modified once more. The next six cases with w = 1 are changed by assigning w = 0 (in rows 3, 32, 46, 58 68, 82) and the other six cases with s = 1 and w = 0 are changed to w = 1 (in rows 4,18,19,30,44,66). Therefore, next, near 20% of cases are modified for the new database (named mod-2) to differ more from the original one-created with the application of the rules.…”

Section: Classifications Of the Modified Simulated Datamentioning

confidence: 99%

“…Decisions can be supported with multicriteria methods [17][18][19], but also with machine learning tools-one of possible approaches supporting this process is Bayesian statistical decision theory providing a mathematical model to make decisions in conditions of uncertainty [20]. In the context of disputes in construction industry, the authors decided however to use decision trees (DT) and artificial neural networks (ANN) considering their application values.…”

Section: Introductionmentioning

confidence: 99%

Quantitative Risk Assessment in Construction Disputes Based on Machine Learning Tools

2021

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A high monetary value of the construction projects is one of the reasons of frequent disputes between a general contractor (GC) and a client. A construction site is a unique, one-time, and single-product factory with many parties involved and dependent on each other. The organizational dependencies and their complexity make any fault or mistake propagate and influence the final result (delays, cost overruns). The constant will of the parties involved results in completing a construction object. The cost increase, over the expected level, may cause settlements between parties difficult and lead to disputes that often finish in a court. Such decision of taking a client to a court may influence the future relations with a client, the trademark of the GC, as well as, its finance. To ascertain the correctness of the decision of this kind, the machine learning tools as decision trees (DT) and artificial neural networks (ANN) are applied to predict the result of a dispute. The dataset of about 10 projects completed by an undisclosed contractor is analyzed. Based on that, a much bigger database is simulated for automated classifications onto the following two classes: a dispute won or lost. The accuracy of over 93% is achieved, and the reasoning based on results from DT and ANN is presented and analyzed. The novelty of the article is the usage of in-company data as the independent variables what makes the model tailored for a specific GC. Secondly, the calculation of the risk of wrong decisions based on machine learning tools predictions is introduced and discussed.

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“…One of the crucial problems in current construction is energy, resource and material efficient technologies [1][2][3][4][5], both in production technologies, that is, associated with the manufacture of materials and structures, and construction, that is, related to the construction of buildings and structures with high efficiency. Thus, scientists and engineers are faced with massive scientific challenges [6,7].…”

Section: Introductionmentioning

confidence: 99%

Influence of Mechanochemical Activation of Concrete Components on the Properties of Vibro-Centrifugated Heavy Concrete

et al. 2021

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One of the crucial problems in current construction is energy, resource, and material efficient technologies in both industrial and civil engineering, associated with new material manufacturing and building construction. This article is devoted to developing comprehensive technology for activation effects on concrete made by various production techniques: vibration, centrifugation, and vibro-centrifugation. The possibility of a significant improvement in the microstructure of concrete and obtaining materials with increased specified characteristics, depending on its manufacturing technology, were studied during the complex activation effect exposed to this concrete and its components. Chemical activation of water and mechanical activation of cement were considered. The urgency and prospects of double, complex mechanochemical activation of concrete mixture components were substantiated. It was proven that the complex mechanochemical activation of the concrete mixture components gives a synergistic effect in obtaining concrete composition with an improved structure and improved characteristics. Furthermore, the relationship between concrete production technology and the technology of activation of its components was established. It was revealed that the most effective is the complex mechanochemical activation of vibro-centrifuged concrete, which gives an increase in strength up to 30%. The study results indicate a further direction of development associated with an increase in variatropic characteristics using both prescription and technological factors.

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Pareto Optimal Decisions in Multi-Criteria Decision Making Explained with Construction Cost Cases

Cited by 34 publications

References 69 publications

Cost management of a construction company based on functional cost analysis

Cost management of a construction company based on functional cost analysis

Quantitative Risk Assessment in Construction Disputes Based on Machine Learning Tools

Influence of Mechanochemical Activation of Concrete Components on the Properties of Vibro-Centrifugated Heavy Concrete

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