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Mohagheghi, V., mousavi, S., Vahdani, B. (2017). An Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment. Journal of Optimization in Industrial Engineering, 10(22), 73-80. doi: 10.22094/joie.2017.278
Vahid Mohagheghi; SEYED meysam mousavi; Behnam Vahdani. "An Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment". Journal of Optimization in Industrial Engineering, 10, 22, 2017, 73-80. doi: 10.22094/joie.2017.278
Mohagheghi, V., mousavi, S., Vahdani, B. (2017). 'An Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment', Journal of Optimization in Industrial Engineering, 10(22), pp. 73-80. doi: 10.22094/joie.2017.278
Mohagheghi, V., mousavi, S., Vahdani, B. An Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment. Journal of Optimization in Industrial Engineering, 2017; 10(22): 73-80. doi: 10.22094/joie.2017.278

An Assessment Method for Project Cash Flow under Interval-Valued Fuzzy Environment

Article 21, Volume 10, Issue 22, Summer and Autumn 2017, Page 73-80  XML PDF (2916 K)
Document Type: Original Manuscript
DOI: 10.22094/joie.2017.278
Authors
Vahid Mohagheghi1; SEYED meysam mousavi1; Behnam Vahdani 2
1M.Sc. Student, Industrial Engineering Department, Faculty of Engineering, Shahed University, Tehran, Iran
2Assistant Professor, Faculty of Industrial & Mechanical Engineering, Qazvin Branch, Islamic Azad University, Qazvin, Iran
Abstract
Effective project management requires reliable knowledge of cash required in different stages of project life cycle. Getting this knowledge is highly dependent on sophisticated consideration of project environment. Nature of projects and their environments are associated with uncertain conditions. In this paper, a new project cash flow assessment method based on project scheduling is proposed to foresee projects' cash flow in their different stages. Interval-valued fuzzy sets (IVFSs) are applied to address the uncertainty of activity durations and costs. First, an IVF-project scheduling method is proposed to calculate early start time and early finish time of activities under IVF-environment and based on that, a new method of cash flow assessment is introduced under IVF-environment. For the purpose of illustration, the proposed method is implemented to generate cash flow of main activities of a large-scale project. The results show the flexibility of presented assessment method in expressing uncertainty, in addition to its capability in risk evaluation. Furthermore, using alpha-cuts to address different levels of uncertainty and risk provides a comprehensive insight of the cash required in different stages of project life cycle under different levels of risk and uncertainty. Finally, the results are discussed and the proposed method is believed to be useful in the project evaluation.

Highlights
  • in this article a project life cycle is considered
  • A new project cash flow assessment methos based on project scheduling is proposed to foresee project's cash flow
  • A new method of cash flow assessment is introduced under IVF-environment
  • Different levels of uncertailty and risk is studied
Keywords
Cost forecasting; Project cash flow; Fuzzy project scheduling; Assessment method; Interval-valued fuzzy sets (IVFSs)
Main Subjects
Production Planning and Control
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