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http://dx.doi.org/10.5345/JKIBC.2012.12.3.257

Development of a Cash Flow Forecasting Model for Housing Construction  

Jang, Joo-Hwan (Graduate School, Hanyang University)
Kim, Ju-Hyung (Department of Architectural Engineering, Hanyang University)
Jee, Nam-Yong (Department of Architectural Engineering, Hanyang University)
Publication Information
Journal of the Korea Institute of Building Construction / v.12, no.3, 2012 , pp. 257-265 More about this Journal
Abstract
Many construction companies are simultaneously carrying out numerous projects in the housing construction industry. It is essential to accurately forecast the cash flow of a project through optimal process management and resource input in order to manage funds rationally and enhance the competitiveness of a company. Current cash flow forecasting methods offer lower accuracy due to a large gap between the revenue and expenditure element. Expenditure elements depends on the real-time changing actual cost for work performed. This research survey was conducted on the actual state of construction management of K company to investigate the problems of cash flow forecasting. To achieve this, the work process and construction management system were integrated to improve the cost management system of K company. To accurately forecast the cash flow of a project, revenue and expenditure elements were displayed in the total cash flow forecast window. This research is expected to assist in the implementation of a system of cash flow forecasting on housing construction by excluding negative elements of revenue and expenditure.
Keywords
cash flow forecasting model; real-time actual cost for work performed; revenue and expenditure element; work process; construction management system;
Citations & Related Records
Times Cited By KSCI : 2  (Citation Analysis)
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