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Challenged of resource allocation
How to allocate limited resources in an efficient way
Construction management research proposal
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1. Introduction
Specialist contractors – generally known as subcontractors – perform the majority of the work on commercial construction projects. It is common for a typical construction project to utilize dozens of subcontractors, with 80-90% of the work of most building projects in the U.S. being performed by subcontractors (Hinze and Tracey 1994). The performance of the subcontractor is critical to project success (Arditi and Chotibhongs 2005; Gray and Flanagan 1989). Commonly, subcontractors have to perform work on multiple projects simultaneously (Sacks 2004), but with limited resources, each subcontractor strives to maximum its workload at any given time for optimum resource utilization (Mathews et al. 2003; O'Brien and Fischer 2000). Thus, subcontractors work activities are subject to individual resource constraints (Kim and Paulson 2003).
During construction, changes frequently occur and conflict with subcontractor’s capacity constraints, causing immediate reallocation of resource (O'Brien and Fischer 2000). As a result, resource allocation due to frequent changes is a critical challenge for subcontractors. Because of frequent changes, subcontractors normally switch resources among projects, and they strive to understand the potential impacts after reallocating resources. Unfortunately, most existing tools are too complicated and provide limited support for resource reallocation across projects, especially for rapid what-if analysis scenarios for decision making. This leads to reliance on manual resource allocation methods. In response, this paper presents a tool for multi-project resource allocation. A test case with a variety of projects and task durations is presented to demonstrate the tool.
2. Literature Revi...
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As the United States economy struggles through a sluggish time with the stock market dropping and unemployment rising, being competitive in the job market has become extremely important among professionals. Engineers are no exception. For most engineering firms, being competitive and successful requires obtaining design projects offered by companies in other fields. These projects can range from designing heating and ventilation systems for office buildings to water systems for cities to computer networks for businesses—the list of possibilities and disciplines is extensive. To get these jobs, engineers must make a bid proposal for the project. Bidding involves estimating the entire cost of the project, including the designing and building processes, as well as the materials and labor. Usually, the company with the lowest bid and the best plan gets the job. The ethical issue in this process is determining the cheapest building materials and construction procedures possible without compromising public safety.
As the world is constantly changing in terms of program needs and the requirements to achieve them, there is a demand for innovative and tactical ways to increase success in achieving project objectives. The ever-changing technological climate, market dynamics, relatively short-lived solutions and the arduous integration of business and I.T., have proved stumbling blocks in managing complex programs and ultimately attaining desired results on time and on budget.
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Accurately forecasting the cost of projects is vital to the survival of any business or organization. Cost estimators develop the cost information that business owners or managers, professional design team members, and construction contractors need to make budgetary and feasibility determinations. From an Owner's perspective the cost estimate may be used to determine the project scope or whether the project should proceed. According to the U.S. Department of Labor there were about 198,000 cost estimators in 1994. That of which 58% work in the construction industry, 17% employed in manufacturing industries, and the remaining 25% elsewhere. From this we could conclude that a great deal of cost estimation lies in the construction industry, where multi-million dollar contracts are formed after a thorough cost estimation.
Time-phased project work is the basis for project cost control. Work package duration is used to develop the project network. Further, the time-phased budgets for work packages are timetabled to establish fiscal measures for each phase throughout the project. The time-phased budgets are to emulate the real cash needs of the budget, which will be used for project cost control. This information is useful to estimate cash outflows. The project manager's attention is on when the costs are to occur, when the budgeted cost is earned, and when the actual cost materializes. This information is made up to measure project schedule and cost variances (Gray & Larson, 2005). The following are typical types of costs found in a project:
My interest in Information Systems Management was drawn when I was working on my final year project at Maharashtra Institute of Technology under the able guidance of the head of the Computer Engineering department. Professor R. K. Bedi’s support provided a much needed boost to my confidence in my programming skills. This new found confidence, in conjunction with the organization management skills I had acquired through active participation in extracurricular activities like “Tesla”, in inter college programming fest, made me realize I wanted to pursue a program that had comprised a blend of both the computer science and management disciplines.
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