Construction Project Portfolio Management Tool (COPPMAN)

Date

2018-04-24

Author

Bilgin, Gözde
Eken, Görkem
Özyurt, Beste
Dikmen Toker, İrem
Birgönül, Mustafa Talat
Özorhon Orakçal, Beliz

Metadata

Show full item record

Item Usage Stats

234
views

0
downloads

Most of the today’s construction organizations are executing several projects concurrently; however, their management routines do not respond to the need of concurrent execution of projects. Portfolio management enables effective management of the right projects for the organization considering its resources, capabilities, strategic objectives, environmental factors, etc. Tools to support decision-making at the portfolio level are needed for successful project management, portfolio management and strategic management of companies; however, there have been very scarce studies responding to this need in the industry. This study reports fundamentals of a tool (alpha version) that has been designed as a decision support tool for portfolio management specific for construction companies. The tool (COPPMAN) will be improved by further testing its validity, reliability and usability within construction companies with real project portfolios. The final version of the tool is believed to be useful for adoption of portfolio management principles in construction companies by capturing project knowledge, enabling analysis of portfolios considering interdependencies between projects, enabling selection of the best portfolio considering strategic priorities of the company and facilitating decision-making by providing visual representations of alternative scenarios.

URI

https://hdl.handle.net/11511/71211

Conference Name

COBRA 2018 Conference

Collections

Department of Civil Engineering, Conference / Seminar

Suggestions

OpenMETU
Core

Critical Sequence Crashing Heuristic for Resource-Constrained Discrete Time-Cost Trade-Off Problem Sönmez, Rifat; Uysal, Furkan (American Society of Civil Engineers (ASCE), 2016-03-01) Despite the importance of project deadlines and resource constraints in construction scheduling, very little success has been achieved in solving the resource-constrained discrete time-cost trade-off problem (RCDTCTP), especially for large-scale projects. In this paper a new heuristic method is designed and developed to achieve fast and high-quality solutions for the large-scale RCDTCTP. The proposed method is based on the novel principles to enable effective exploration of the search space through adequate...
Development of an IT-based tool for portfolio assessment and management for construction companies Bilgin, Gözde; Dikmen Toker, İrem; Özorhon Orakçal, Beliz; Department of Civil Engineering (2019) Development in the construction industry has leaded most of the construction companies to undertake more complex projects than before, which are generally executed concurrently. Therefore, project management routines of the companies may not support effective management of multi-projects. Project portfolio management approach has been suggested to meet requirements for coordinating multi-projects to meet strategic objectives under limited resources. Since project portfolio management requires a comprehensiv...
Activity Uncrashing Heuristic with Noncritical Activity Rescheduling Method for the Discrete Time-Cost Trade-Off Problem Sönmez, Rifat; Atan, Tankut (American Society of Civil Engineers (ASCE), 2020-08-01) Despite intensive research efforts that have been devoted to discrete time-cost optimization of construction projects, the current methods have very limited capabilities for solving the problem for real-life-sized projects. This study presents a new activity uncrashing heuristic with noncritical activity rescheduling method to narrow the gap between the research and practice for time-cost optimization. The uncrashing heuristic searches for new solutions by uncrashing the critical activities with the highest...
The Resource allocation capabilities of commercial construction project management software for the resource leveling problem / Rezvan Khah, Emad; Sönmez, Rifat; Atan, S. Tankut; Department of Civil Engineering (2014) Critical path method (CPM) has been commonly used for scheduling of construction projects. However, CPM only considers the relations between the activities, but does not optimize the resource allocation. Resource leveling problem (RLP) concentrates on optimizing resource utilization histograms obtained by Critical Path Method (CPM) without changing the project duration. Resource leveling is crucial for effective use of construction resources particularly, manpower and machinery resources to minimize the pro...
Integrated resource leveling and cash flow optimization for construction projects using symbiotic organisms search algorithm Seyisoğlu, Başak; Sönmez, Rifat; Department of Civil Engineering (2020) Construction projects are well-known for their inherent complexity as they involve a considerable amount of challenging tasks to be performed in conformance with the contractual documents. Unrealistic schedules that disregard the prominent components such as resources are one of the major reasons for failure of the construction projects. The most widely used scheduling technique is the Critical Path Method (CPM) which usually provides a schedule with unfavorable resource fluctuations. To reduce the negative...

Citation Formats

G. Bilgin, G. Eken, B. Özyurt, İ. Dikmen Toker, M. T. Birgönül, and B. Özorhon Orakçal, “Construction Project Portfolio Management Tool (COPPMAN),” presented at the COBRA 2018 Conference, London, UK, 2018, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/71211.