Proceedings of the 2022 European Conference on Computing in Construction

     

Utilizing simulation to predict optimum number of projects

Ahmed Elnady, Yaroslav Broda, Ahmed Hammad, Hamidreza Golabchi, Yasser Mohamed
University of Alberta, Canada

DOI: 10.35490/EC3.2022.144
Abstract: Contractors strive to generate profit from utilizing the available resources. This paper introduces a hybrid model of Discrete Event and Monte Carlo Simulations using SIMPHONY Software to model the operational interdependencies of the construction projects at the work packages level using the common pool of resources. The developed model considers organizational financial and equipment resources to help contractors forecast the optimum number of projects to bid for at the planning phase. A case of Bid/No-Bid in building houses is used to validate the model. The main contribution is in the methodology of applying operational techniques in making strategic decisions.
Keywords: Discrete Event Simulation, Monte Carlo Simulation, SIMPHONY, Bid/No Bid
Paper:
EC32022_144

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