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An integration of the fuzzy reasoning technique and the fuzzy optimization method in construction project management decision-making

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Listed:
  • K. C. Lam
  • A.T.P. So
  • Tiesong Hu
  • Thomas Ng
  • R. K. K. Yuen
  • S. M. Lo
  • S. O. Cheung
  • Hongwei Yang

Abstract

Most real world decision-making combines quantitative and qualitative (linguistic) variables. Conventional mathematics that combines qualitative and quantitative concepts exhibits difficulty in modelling actual problems. The research presented in this paper illustrates a mathematical approach to the solution of decision-making problems that combine qualitative and quantitative objectives. A methodical system for construction project management decision-making was developed using a combination of fuzzy multiple-objective decision-making theory and the fuzzy reasoning technique. The mathematical model can be applied to construction project management problems by suggesting an optimal path of corporate cash flow that results in the minimum use of resources. The information provided by the mathematical model allows the planner to eliminate excess use, or idleness, of resources during the construction of a project. Such information is indispensable for decision-makers in analysing the best time to invest in a new project. A case study is demonstrated to illustrate the application to a management decision problem.

Suggested Citation

  • K. C. Lam & A.T.P. So & Tiesong Hu & Thomas Ng & R. K. K. Yuen & S. M. Lo & S. O. Cheung & Hongwei Yang, 2001. "An integration of the fuzzy reasoning technique and the fuzzy optimization method in construction project management decision-making," Construction Management and Economics, Taylor & Francis Journals, vol. 19(1), pages 63-76, January.
    • Handle: RePEc:taf:conmgt:v:19:y:2001:i:1:p:63-76
    DOI: 10.1080/014461901452085
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    Cited by:

    1. Jarosław Konior & Mariusz Szóstak, 2020. "Methodology of Planning the Course of the Cumulative Cost Curve in Construction Projects," Sustainability, MDPI, vol. 12(6), pages 1-22, March.

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