Digital library of construction informatics and information technology in civil engineering and construction
Digital library
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 project fmmcial viability and its resulting financial commitments and capabilities. Furthermore, these models are used at the corpsrate level with wider implications. However, it appears that often, the forecasting models are either used as a procedural necessity without much faith in their 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 and asserts that the pro-active management should be able to take a progressive attitude towards the concept of forecasting and exploit it as a tool for deterministic, rather than fatalistic decision and policy making. This paper is concerned with the above notions primarily in the context of forecasting models for construction project cash flow. To this end, the paper introduces TASC - a mathematically based model - the structure and various features of which, accommodate the implementation 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
includes:
W78
includes:
W78
inspired by SciX, ported by Robert Klinc [2019]