Optimizing Value and Risk based on Client Expectation in Construction Industry using Intelligent Algorithm : A Case-Study in New Zealand

Authors(1) :-Wei Zhang

New processes and materials pose benefits to architects, designers, and builder and home owners as such change mean the cost of building was lower and in some cases home building projects were able to be completed faster. However as with new processes and materials emerge, new training is required to fully utilize them allowing construction projects to gain added value. The goal of this paper is to illustrate how value management and risk management can be applied to manage the expectation of clients in construction projects. To achieve our goal, first it is shown that with the new ability of clients being able to access information regarding to new materials and processes, they can incorporate more than before in specifying particular materials and processes in the design and construction of the building increases. Then a novel model is provided using Intelligent Algorithm to maximize value and minimize the risk based on client expectation.

Authors and Affiliations

Wei Zhang
College of Civil Engineering and Architecture, Zhejiang University of Technology, Hangzhou, Zhejiang, China

Value Management, Client Expectation, Intelligent Algorithm

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Publication Details

Published in : Volume 4 | Issue 8 | May-June 2018
Date of Publication : 2018-06-30
License:  This work is licensed under a Creative Commons Attribution 4.0 International License.
Page(s) : 395-407
Manuscript Number : IJSRSET184899
Publisher : Technoscience Academy

Print ISSN : 2395-1990, Online ISSN : 2394-4099

Cite This Article :

Wei Zhang, " Optimizing Value and Risk based on Client Expectation in Construction Industry using Intelligent Algorithm : A Case-Study in New Zealand, International Journal of Scientific Research in Science, Engineering and Technology(IJSRSET), Print ISSN : 2395-1990, Online ISSN : 2394-4099, Volume 4, Issue 8, pp.395-407, May-June-2018.
Journal URL : http://ijsrset.com/IJSRSET184899

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