LAPSE:2023.19439
Published Article
LAPSE:2023.19439
Cash Flow Optimization for Renewable Energy Construction Projects with a New Approach to Critical Chain Scheduling
Janusz Kulejewski, Nabi Ibadov, Jerzy Rosłon, Jacek Zawistowski
March 9, 2023
This study concerns the use of the critical chain method to schedule the construction of renewable energy facilities. The critical chain method is recognized as a useful project management tool, transforming a stochastic problem of uncertainty in activity durations into a deterministic one. However, this method has some shortcomings. There are no clear principles of grouping non-critical activities into feeding chains. Another ambiguity is sizing the feeding buffers with regard to the topology of the network model and the resulting dependencies between activities, located in different chains. As a result, it is often necessary to arbitrarily adjust the calculated sizes of feeding buffers before inserting them into the schedule. The authors present the new approach to sizing the time buffers in the schedule, enabling a quick assessment of the quality of a given solution variant and finding a solution that best meets the established criteria, conditions, and constraints. The essence of the presented approach is the two-step sizing of time buffers with the use of deterministic optimization and stochastic optimization techniques. Taking into account construction management needs, the optimization criteria are based on the construction project cash flow analysis. The effectiveness of the presented approach is illustrated by an example of developing a wind power plant construction schedule. According to the results, the presented approach ensures the protection of the scheduled completion date of the construction and the stability of the schedule.
Keywords
cash flow, critical chain, Optimization, Renewable and Sustainable Energy, Scheduling, time buffers
Suggested Citation
Kulejewski J, Ibadov N, Rosłon J, Zawistowski J. Cash Flow Optimization for Renewable Energy Construction Projects with a New Approach to Critical Chain Scheduling. (2023). LAPSE:2023.19439
Author Affiliations
Kulejewski J: Civil Engineering Faculty, Warsaw University of Technology, Armii Ludowej 16, 00-637 Warszawa, Poland
Ibadov N: Civil Engineering Faculty, Warsaw University of Technology, Armii Ludowej 16, 00-637 Warszawa, Poland
Rosłon J: Civil Engineering Faculty, Warsaw University of Technology, Armii Ludowej 16, 00-637 Warszawa, Poland [ORCID]
Zawistowski J: Polish Association of Building Managers, Emili Plater 18, 00-688 Warszawa, Poland
Journal Name
Energies
Volume
14
Issue
18
First Page
5795
Year
2021
Publication Date
2021-09-14
Published Version
ISSN
1996-1073
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Original Submission
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PII: en14185795, Publication Type: Journal Article
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LAPSE:2023.19439
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doi:10.3390/en14185795
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