The Calculation Method of Basic Reserve Fund in Power Grid Construction Project: A Case Study from China

Xue Liang Hou; Ying Rong Yang; Yue Li

doi:10.4028/www.scientific.net/AMM.584-586.2659

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 584-586The Calculation Method of Basic Reserve Fund in...

The Calculation Method of Basic Reserve Fund in Power Grid Construction Project: A Case Study from China

Abstract:

This paper studied the calculation method of basic reserve fund (BRF) based on distribution fitting and Monte Carlo Simulation (MCS) in power grid construction project (PGCP). BRF copes with the various unforeseen expenses in the process of budget compilation. Nowadays, the measuring method with fixed rate cannot adapt to the request, because of the BRF with larger uncertainty influence factors. MCS technique can achieve a good simulation to solve the problem of uncertainty. The research first uses MINITAB to analysis the distribution of various influence factors, then uses MATLAB to build calculation model to take the stochastic simulation for many times, finally gets a more realistic BRF. A case from China is used to confirm this calculation method works well.

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Periodical:

Applied Mechanics and Materials (Volumes 584-586)

Pages:

2659-2663

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.584-586.2659

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Online since:

July 2014

Authors:

Xue Liang Hou, Ying Rong Yang*, Yue Li

Keywords:

Basic Reserve Fund Calculation, Monte Carlo Simulation, Power Grid Construction Project

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* - Corresponding Author

References

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