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Implications Of Cash Flow Forecasting On Highway Projects In Iraq

    Bevian Ismail Al Hadithi

Anbar Journal of Engineering Sciences, 2016, Volume 7, Issue 1, Pages 56-62
10.37649/aengs.2016.124456

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Abstract

The cash flow forecasting is beneficial for the project in both the tender stage and during the
project construction progress, where the contractors want to make sure that their planned cash
funds is sufficient to cover any possible financial deficit of the project. This research aims to
find out minimum fund needed for highway projects in Iraq required by the contractor to
maintain the progress of work under some circumstances and effects of the shortage of fund,
particularly in case of payment delay, in addition to the implication of the payment delay.
Data from record files of 9 highway projects in Iraq, of the unit price type contracts. It was
found that the minimum fund required is 20.944 percent of the contract value of three months
delay . The minimum fund required for those projects is directly proportional to the time of
payment delay. The minimum fund required for projects is represented in a linear equation as
a function of payment delay time, such equation would help the contractor to estimate the
future amount of minimum fund required for any delay in months. Interim profit is calculated
for the purpose of comparison with the expected profit for the purpose of exploring the
consequences in case exceedance. Because of the use of unit price contracts in the
implementation of highway projects in Iraq, it did not cause the appearance that the contractor
receives large profit at early stages of the project. The delay in payment leads to negative
results, including the delay in the project, reduces the level of performance of the contractor
which is negatively affects project, reduce the quality of implementation and, increased cost
of the project in case of the contractor to claim compensation for the damage, as well as the
occurrence of a difference in currency and inflation due to the time difference between the
payment date and the actual date.
Keywords:
    cash flow Road Construction Contract Iraq
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(2016). Implications Of Cash Flow Forecasting On Highway Projects In Iraq. Anbar Journal of Engineering Sciences, 7(1), 56-62. doi: 10.37649/aengs.2016.124456
Bevian Ismail Al Hadithi. "Implications Of Cash Flow Forecasting On Highway Projects In Iraq". Anbar Journal of Engineering Sciences, 7, 1, 2016, 56-62. doi: 10.37649/aengs.2016.124456
(2016). 'Implications Of Cash Flow Forecasting On Highway Projects In Iraq', Anbar Journal of Engineering Sciences, 7(1), pp. 56-62. doi: 10.37649/aengs.2016.124456
Implications Of Cash Flow Forecasting On Highway Projects In Iraq. Anbar Journal of Engineering Sciences, 2016; 7(1): 56-62. doi: 10.37649/aengs.2016.124456
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