Probabilistic Cash Flow Analysis Considering Risk Impacts by Integrating 5D-Building Information Modeling and Bayesian Belief Network

Mohammad Hosein Madihi, Mohammadsoroush Tafazzoli, Ali Akbar Shirzadi Javid, Farnad Nasirzadeh

Research output: Contribution to journalArticlepeer-review

Abstract

Unrealistic cash flow forecasts negatively affect project stakeholders and are a common issue for construction practitioners. This study proposes a new method for predicting the probabilistic cash flow of a project that can automate the calculation process while considering the impact of risks and their inter-related structure. This research integrates a Bayesian Belief Network (BBN) and 5D-BIM to provide a new probabilistic cash flow analysis approach. Here, 5D-BIM is used to facilitate cash flow calculations and automate the process. The BBN has also been implemented to assess the impact of risk factors on project cash flow, considering their complex inter-related structure. In addition, a hybrid approach combining fuzzy set theory, decision-making trial and evaluation laboratory (DEMATEL), and interpretive structural modeling (ISM) is used to form the BBN. The proposed method provides a robust tool for calculating the probabilistic cash flow of the project. The results showed that the project’s cash flow in the last month was IRR 14.4 billion without considering the impact of risks. The probabilistic cash flow of the project indicates that due to the impact of the risks, the project cash flow will be in the range of IRR −142.2 billion and IRR 1.11 billion at the end of the project. This shows the possibility of experiencing between 11 and 130% deviation in the project cash flow due to existing risks. In conclusion, project cash flow is unreliable without considering the impact of risks. This framework supports better financial decisions and allows for the evaluation of cash flow risk management scenarios.

Original languageEnglish
Article number1774
JournalBuildings
Volume15
Issue number11
DOIs
StatePublished - May 22 2025

Scopus Subject Areas

  • Architecture
  • Civil and Structural Engineering
  • Building and Construction

Keywords

  • 5D-BIM
  • Bayesian belief network
  • fuzzy DEMATEL-ISM
  • probabilistic cash flow
  • risk assessment

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