A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects
Road pavement construction projects are a complex type of project that involve a considerable amount of resources and time, which leads in many cases in a considerable increase of costs. Therefore risk and uncertainty are variables that may lead to significant changes in the budget of a project and...
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| Format: | Article |
| Language: | English |
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Stefan cel Mare University of Suceava
2019-12-01
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| Series: | Journal of Applied Computer Science & Mathematics |
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| Online Access: | https://www.jacsm.ro/view/?pid=28_1 |
| _version_ | 1811269198148534272 |
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| author | ARBA Raluca |
| author_facet | ARBA Raluca |
| author_sort | ARBA Raluca |
| collection | DOAJ |
| description | Road pavement construction projects are a complex type of project that involve a considerable amount of resources and time, which leads in many cases in a considerable increase of costs. Therefore risk and uncertainty are variables that may lead to significant changes in the budget of a project and may even lead to failure unless these changes are taking into consideration when determining the budget. This paper aims to present a model of cost simulation using the Monte Carlo Method which takes into consideration the main road parameter that may cause failure of a project – type of road distress, the level of failure and its impact on final budget of a project. |
| first_indexed | 2024-04-12T21:36:38Z |
| format | Article |
| id | doaj.art-5cecf43f1ff84036b5ff9ec4695b60cb |
| institution | Directory Open Access Journal |
| issn | 2066-4273 2066-3129 |
| language | English |
| last_indexed | 2024-04-12T21:36:38Z |
| publishDate | 2019-12-01 |
| publisher | Stefan cel Mare University of Suceava |
| record_format | Article |
| series | Journal of Applied Computer Science & Mathematics |
| spelling | doaj.art-5cecf43f1ff84036b5ff9ec4695b60cb2022-12-22T03:15:52ZengStefan cel Mare University of SuceavaJournal of Applied Computer Science & Mathematics2066-42732066-31292019-12-0113291310.4316/JACSM.201902001A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development ProjectsARBA Raluca0Babes-Bolyai University of Cluj-Napoca, RomaniaRoad pavement construction projects are a complex type of project that involve a considerable amount of resources and time, which leads in many cases in a considerable increase of costs. Therefore risk and uncertainty are variables that may lead to significant changes in the budget of a project and may even lead to failure unless these changes are taking into consideration when determining the budget. This paper aims to present a model of cost simulation using the Monte Carlo Method which takes into consideration the main road parameter that may cause failure of a project – type of road distress, the level of failure and its impact on final budget of a project.https://www.jacsm.ro/view/?pid=28_1impact on costssimulationmonte carlo methodroad pavement projects |
| spellingShingle | ARBA Raluca A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects Journal of Applied Computer Science & Mathematics impact on costs simulation monte carlo method road pavement projects |
| title | A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects |
| title_full | A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects |
| title_fullStr | A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects |
| title_full_unstemmed | A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects |
| title_short | A Model of Costs Simulation using Monte Carlo Method for Road Pavement Development Projects |
| title_sort | model of costs simulation using monte carlo method for road pavement development projects |
| topic | impact on costs simulation monte carlo method road pavement projects |
| url | https://www.jacsm.ro/view/?pid=28_1 |
| work_keys_str_mv | AT arbaraluca amodelofcostssimulationusingmontecarlomethodforroadpavementdevelopmentprojects AT arbaraluca modelofcostssimulationusingmontecarlomethodforroadpavementdevelopmentprojects |