A new approach for multi-scenario project cash flow analysis based on TODIM and critical chain methods under grey uncertainty

Seyed Meysam Mousavi | S.A. Mirnezami | J. Antucheviciene | V. Mohagheghi

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URL :   http://research.shahed.ac.ir/WSR/WebPages/Report/PaperView.aspx?PaperID=159398
Date :  2020/12/28
Publish in :    Economic Computation and Economic Cybernetics Studies and Research


Keywords :Project scheduling, Cash flow, Critical chain project management, Grey theory, TODIM, MCDM

Abstract :

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Prognosticating and monitoring the financial conditions of the projects in terms of the cash are crucial to be considered for companies. Generating reliable cash flow is essential for taking proper decisions and having effective financial control. Furthermore, if the inherent uncertainties in projects are not addressed, they could lead to tremendous rates of projects failure and bankruptcy. Thus, it is crucial to consider the imprecision in projects. Therefore, the objective of this study is to anticipate the projects cash flow. In this paper, a novel approach is proposed to generate the project cash flow by applying both two extensions of critical chain project management and TODIM (an acronym in Portuguese for interactive Multi-Criteria Decision Making (MCDM)) method under grey-environments. Therefore, grey numbers are employed to state the uncertainty of activity durations, qualities, and costs. Finally, a real-world construction project is utilized to demonstrate the applicability and efficiency of proposed approach.