Digital library of construction informatics and information technology in civil engineering and construction
 
ITC
Digital library
SciX
Tower of Babel
Home All papers Browse by series Browse by authors Browse by keywords Browse by years
Paper: w78-1993-13
Paper title: Beterministic management decision making using forecasting models
Authors: Khosrowshahi F
Summary: It is widely accepted that forecasting is an activity essential to management decision making.Forecasting models are extensively used by the management to assist evaluation of projectfmmcial viability and its resulting financial commitments and capabilities. Furthermore, thesemodels are used at the corpsrate level with wider implications. However, it appears thatoften, the forecasting models are either used as a procedural necessity without much faith intheir outcome or, they are used fatalistically where the outcome is accepted on the whole.This paper attempts to extend the boundaries of the applications of forecasting models andasserts that the pro-active management should be able to take a progressive attitude towardsthe concept of forecasting and exploit it as a tool for deterministic, rather than fatalisticdecision and policy making.This paper is concerned with the above notions primarily in the context of forecasting modelsfor construction project cash flow. To this end, the paper introduces TASC - amathematically based model - the structure and various features of which, accommodate theimplementation of the above concept.
Type:
Year of publication: 1993
Series: w78:1993
ISSN: 2706-6568
Download paper: /pdfs/w78-1993-13.content.pdf
Citation: Khosrowshahi F (1993). Beterministic management decision making using forecasting models. Mathur K S, Betts M P, Tham K W (ed.); Pre-proceedings of the first international conference on the management of information technology for construction; Singapore, August 1993 (ISSN: 2706-6568), http://itc.scix.net/paper/w78-1993-13
hosted by University of Ljubljana University of Ljubljana

includes:

CIB
W78

ECCE

ITcon
© itc.scix.net
inspired by SciX, ported by Robert Klinc [2019]