Title :
Optimizations of contract incentives and duration for construction programme management
Author :
Yang, Yaohong ; Li, Zhiyong
Author_Institution :
Water Resources Sch., North China Univ. of Water Conservancy & Electr. Power, Zhengzhou, China
Abstract :
Considering expected operating income, opportunity income, reputation income and others, a Steckelberg decision model was formed from the double viewpoints of the programme owners and multi-contractor. In the model, contract incentives and duration of construction programme were optimized by searching Nash equilibrium. Finally, a case is computed to verify effectiveness of the model.
Keywords :
construction; contracts; decision theory; game theory; incentive schemes; optimisation; Nash equilibrium; Steckelberg decision model; construction programme management; contract duration; contract incentives; double viewpoints; multicontractor; operating income; opportunity income; optimizations; programme owners; reputation income; Computational modeling; Contracts; Educational institutions; Optimization; Tin; Water conservation; Water resources; construction programme; contract incentive; duration optimization; genetic optimization;
Conference_Titel :
Mechanic Automation and Control Engineering (MACE), 2011 Second International Conference on
Conference_Location :
Hohhot
Print_ISBN :
978-1-4244-9436-1
DOI :
10.1109/MACE.2011.5987691
