Impact of Float Loss on the Project Costs

2011 ◽  
Vol 189-193 ◽  
pp. 1532-1537
Author(s):  
Wei Lo ◽  
Yih Tzoo Chen
Keyword(s):  
Critical Path ◽  
Research Result ◽  
Optimal Schedule ◽  
Step Function ◽  
Project Cost ◽  
Traditional Concept ◽  
Project Completion ◽  
Completion Date ◽  
The Cost ◽  
The Impact

Many techniques have been developed to analyze the time impact and the costs caused by the disruptions of the project works. However, most were limited on the delay of the critical path and the overall project completion date. In recent years, although more attention has been drawn on the impact of the float loss on the overall project cost, not a single research result has been widely accepted and recognized. This study aims to fill this gap. This research firstly introduces a resource-integrated genetic algorithms (G.A.) model, which will be used to develop an optimal schedule including the timing and quantity for each type of resource required to complete each individual activity. Secondly, by using a case study this research intends to identify the impact of float loss on overall project cost through comparing the as-planned optimal schedule with an after-impacted schedule. Based on the research results this research has identified that the relationship between the float loss and project cost can be expressed as a step function and the time span of total float can be divided into and cost-related float and cost-unrelated float, termed as optimal float, in which the consumption of float will not cause the delay of the project completion date, nor the increase of project cost. The findings refute the traditional concept that the total float belongs to neither the owner nor the contractor, and suggest that the utilization float is free only within the optimal float and the float apportionment will never be reasonable unless the cost of float floss has been taken into consideration.

Study on the Relationships of the Construction Technology and the Cost Management Based on Enterprise Quota

2014 ◽  
Vol 543-547 ◽  
pp. 4040-4043
Author(s):  
Wen Zhang ◽  
Li Juan Zhang
Keyword(s):  
Cost Management ◽  
Value Engineering ◽  
Construction Technology ◽  
Project Cost ◽  
The Cost ◽  
The Impact

Enterprise quota is the foundation of project cost management. With the appearance of advanced construction technology, enterprise quota should be constantly updated and improved, so as to improve the level of enterprise cost management. This paper studies the impact of construction technology on cost management based on enterprise quota,and then demonstrated by the Value Engineering. From that, we know the advanced construction technology can help enterprise save the cost and improve the economical benefits.

Predicting the critical path changes using sensitivity analysis: a delay analysis approach

2020 ◽  
Vol 13 (5) ◽  
pp. 1097-1119
Author(s):  
Mohammed Hammad ◽  
Alireza Abbasi ◽  
Ripon K. Chakrabortty ◽  
Michael J. Ryan
Keyword(s):  
Sensitivity Analysis ◽  
Probability Distribution ◽  
Critical Path ◽  
Research Work ◽  
Delay Analysis ◽  
Content Type ◽  
Project Completion ◽  
Analysis Scheme ◽  
Completion Date ◽  
Distribution Type

PurposeThis research presents a framework that allows project managers to predict the next critical paths (CP(s)) and to take extra care when planning and executing those activities that have the potential to cause changes in a project's current CP(s).Design/methodology/approachThe method presented here is based on an assessment of each activity's contribution to the overall schedule variance, which involves assigning a probability distribution function to each activity duration in the project. A sensitivity analysis is also carried out, which forms the basis of identifying which activity most affects the project completion date and therefore will have the greatest effect in changing the CP.FindingsThe authors’ analysis reveals that the most appropriate probability density function (PDF) for the targeted project is the normal distribution. However, the aim of this work is not to determine the most suitable distribution for each activity but rather to study the effect of the activity distribution type on the CP prediction. The results show that the selection of the appropriate probability distribution is very important, since it can impact the CP prediction and estimated project completion date.Originality/valueThis research work proposes a delay analysis scheme which can help the project manager to predict the next CP and to improve performance by identifying which activity is the bottleneck. On the other hand, the simplicity arises from the fact that this method does not require any expensive machines or software to generate results.

scholarly journals STRATEGI PERCEPATAN PROYEK MENGGUNAKAN METODE CRASH PROGRAM (Studi Kasus : Program Kerja Masa Pengeringan Proyek Rehabilitasi Saluran Induk Klambu Kiri Tahun 2017)

2020 ◽  
Vol 25 (2) ◽  
pp. 166
Author(s):  
Eko Marsudi Utomo ◽  
Mochamad Agung Wibowo ◽  
Sriyana Sriyana
Keyword(s):  
Flow Section ◽  
Cropping Pattern ◽  
Cost Component ◽  
Flow Area ◽  
Project Completion ◽  
Normal Duration ◽  
Section Structure ◽  
The Cost ◽  
The Impact ◽  
Predetermined Time

Based on the initial plan from the contract of the Rehabilitation Klambu Kiri’s Project, main channel's work was carried out continously by an open and closed system using the kistdam method. However by the time of execution work, the stakeholders wanted the work in the main channel to be carried out based on cropping pattern, where there a drying period and a drainage period. In this case, flow area and bottom structure of the channel can only be worked during the drying period lasting three months. To be able to determine the impact of these change, a duration calculation is carried out from project's data which are internal's BQ, initial plan's resources, and the relations between activities using Microsoft Project on the flow section structure which be worked in drying period of 2017. The normal duration obtained from analysis is 203 days. It was exceeded time of drying period and possibly could have an impact on the overall project completion schedule resulting in delays, defaults and even termination of contracts. Therefore, it is necessary to have an accelerate strategy of the work on the flow section structure to be completed within a predetermined time. In this study, the acceleration strategy was carried out using crashing analysis in the critical activities from normal duration using Microsoft Project. The crashing method was carried out in stages from the crashing simulation of 30 days, 60 days, to 120 days so that obtained the duration of acceleration was 83 days. The cost component of acceleration is calculated by choosing the lowest cost from the alternatives of increasing work hours (overtime) or by adding resources. From the simulation results, the crash cost to complete the acceleration work is Rp. 1.298.307.591,- or about 2,05% of direct cost, so the efficiency is Rp. 9.692.409,- from normal duration

scholarly journals Project Crashing Using Excel Solver: A Simple AON Network Approach

2012 ◽  
Vol 16 (2) ◽  
pp. 177 ◽  
Author(s):  
Kunpeng Li ◽  
Bin Shao ◽  
Pamela Zelbst
Keyword(s):  
Completion Time ◽  
Critical Path ◽  
New Approach ◽  
Dummy Variables ◽  
Project Completion ◽  
Decision Variables ◽  
Business Practitioners ◽  
Event Times ◽  
Excel Solver ◽  
The Cost

This paper introduces a new and efficient AON-Solver approach to solve project crashing problems. The new approach uses conventional critical path concepts to determine the project completion time and to define network structures in Excel. It is simple and straightforward, with less decision variables and constraints than the existing AOA-Solver approach, which relies on tracking event times of the nodes in the AOA network. Also, there is no requirement to deal with dummy variables, which are often problematic, but frequently required in many AOA networks. In addition, most of the students and business practitioners are more familiar and comfortable with AON network. It would be more appealing and accessible for them to learn and to implement a computerized approach to solve project crashing problems, and to better understand the cost-time tradeoffs in project crashing.

Risk Based Estimate: Keep It Simple...

2010 ◽  
Author(s):  
Ovidiu Cretu ◽  
Vlad Cretu ◽  
Terry Berends ◽  
Robert Stewart
Keyword(s):  
Risk Analysis ◽  
Cost Estimate ◽  
New Method ◽  
Optimum Number ◽  
Project Cost ◽  
Schedule Risk ◽  
Schedule Risk Analysis ◽  
The Cost ◽  
The Impact ◽  
Cost Risk

The project cost and schedule estimate is a very subtle effort that needs to be repeated throughout the entire project’s life. The relatively new method of including risk events into the project cost estimate makes this effort more sensitive to subtleness. The authors have noticed during their work with other professionals that it is a tendency to make the processes of cost risk analysis (Risk Based Estimate (RBE)) more complicated than they should be. The authors call this tendency as “professional sophistication” when the RBE includes too many activities, too many uncertainties, and too many risk events. The “professional sophistication” usually is detrimental to the entire cost and schedule risk analysis and it constitutes a significant source of the analysis’ failure. The paper presents few cases when so called “professional sophistication” led to the initial analysis failure and if not caught in time to the project cost and schedule misrepresentation. The paper presents the reasons why the “Keep It Simple Smarty (KISS)” principle is critical for a robust and reliable cost and schedule risk analysis. The papers evaluate the impact of having too many variables included into RBE. It makes recommendation about the optimum number of variable that may be incorporated in the cost risk analysis. The ultimate recommendation is about being sure that the Risk Based Estimate includes only the uncertainties or risk events that may change significant the project cost or schedule.

Performance-Based Approach for Deciding the Age of New Concrete for Thin Epoxy Overlay Application

2021 ◽  
pp. 036119812110145
Author(s):  
Upul Attanayake ◽  
Abul Fazal Mazumder
Keyword(s):  
Concrete Strength ◽  
Chloride Ion ◽  
Experimental Program ◽  
Project Completion ◽  
Curing Period ◽  
The Cost ◽  
The Impact ◽  
To Receive ◽  
Cost Of Construction ◽  
A Performance

A thin epoxy overlay application is a capital preventive maintenance activity. Epoxy overlays reduce the rate of chloride ion ingress and extend bridge deck service life. Highway agency policies and manufacturer specifications require maintaining a 28-day curing period (7-day wet and 21-day dry curing) before the application of an epoxy overlay on bridge decks requiring new concrete for patches and repairs. Consequently, the contractors wait for 28 days to apply an epoxy overlay. Delaying application time increases project completion time and the cost of construction and mobility. The suitability of new concrete to receive epoxy overlays and the performance of overlays depend on several parameters including concrete strength, moisture, and tendency to crack. Such parameters depend on concrete mixture ingredients and wet and dry curing periods. This paper presents a performance-based procedure for evaluating the possibility of reducing the 28-day waiting period for a thin epoxy overlay application on new concrete. An experimental program was developed and executed to evaluate the impact of epoxy overlay application parameters and overlay performance using a tensile bond pull-off strength test. The results support developing a performance-based procedure for deciding on the suitable age of new concrete to receive a thin epoxy overlay. The pull-off bond strength of epoxy overlays applied at 7, 14, and 21 days, following a 7-day moist curing, shows the possibility of applying an epoxy overlay before the end of the 28-day curing period stipulated in the current specifications.

scholarly journals A Variation-Aware Design Methodology for Distributed Arithmetic

Electronics ◽  
2019 ◽  
Vol 8 (1) ◽  
pp. 108
Author(s):  
Yue Lu ◽  
Shengyu Duan ◽  
Basel Halak ◽  
Tom Kazmierski
Keyword(s):  
Critical Path ◽  
Cmos Process ◽  
Least Significant Bit ◽  
Distributed Arithmetic ◽  
Timing Error ◽  
Worst Case ◽  
Error Resilient ◽  
Variation Aware Design ◽  
The Cost ◽  
The Impact

Distributed arithmetic (DA) brings area and power benefits to digital designs relevant to the Internet-of-Things. Therefore, new error resilient techniques for DA computation are urgently required to improve robustness against the process, voltage, and temperature (PVT) variations. This paper proposes a new in-situ timing error prevention technique to mitigate the impact of variations in DA circuits by providing a guardband for significant (most significant bit) computations. This guardband is initially achieved by modifying the sign extension block and carefully gate-sizing. Therefore, least significant bit (LSB) computation can correspond to the critical path, and timing error can be tolerated at the cost of acceptable accuracy loss. Our approach is demonstrated on a 16-tap finite impulse respons (FIR) filter using the 65 nm CMOS process and the simulation results show that this design can still maintain high-accuracy performance without worst case timing margin, and achieve up to 32 % power savings by voltage scaling when the worst case margin is considered with only 9 % area overhead.

scholarly journals Analysis of Cost of Rework on Time and Cost Performance of Building Construction Projects in Abuja, Nigeria

2018 ◽  
Vol 5 (1) ◽  
Author(s):  
Emmanuel Chidiebere Eze ◽  
John Ebhohimen Idiake
Keyword(s):  
Significant Relationship ◽  
Construction Projects ◽  
Building Construction ◽  
P Value ◽  
Delivery Time ◽  
Cost Performance ◽  
Project Cost ◽  
Final Project ◽  
The Cost ◽  
The Impact

Rework is a menace that leads to undesired and unnecessary loss of efforts, it degrades project cost and schedule performance of construction projects, both at design and construction phases. This study therefore, analyzed the impact of cost of rework on time and cost performance of building construction projects in Nigerian, using selected commercial building project within the country’s capital. A pro forma was adopted for gathering data on rework cost, project cost and time of selected building projects, while structured questionnaire was used to collect information on the likely measures for reducing rework incidences from construction professionals that were involved in the delivery of the identified projects. Regression analysis, relative importance index and Kruskal-Walis test were employed for data analysis. The study revealed a significant relationship between the cost of rework and initial and final project cost of delivering commercial buildings, as an average of 3.53% impact on the initial project cost, 46.60% contribution to cost overrun, and p-value of 0.000 was observed on all assessed projects. For the project delivery time, a significant relationship between the cost of rework and initial and final project duration, as an average of 7.35% impact on the initial delivery time, extra 19 days and p-value of 0.000 was observed on all assessed projects. Team building and education, management commitment, employee involvement, were some of the best possible measures to minimized rework problems.

scholarly journals COVID-19 pandemic impact: an identification of the cause of cost overrun in construction project

2021 ◽  
Vol 331 ◽  
pp. 01014
Author(s):  
Yervi Hesna ◽  
Jati Sunaryati ◽  
Ayu Hidayati
Keyword(s):  
Construction Industry ◽  
Construction Project ◽  
Health And Safety ◽  
Cost Overrun ◽  
Project Cost ◽  
Heavy Equipment ◽  
Two Factors ◽  
Implementation Time ◽  
The Cost ◽  
The Impact

The paper provides a thorough examination of the impact of COVID-19 on increasing the cost of the construction project. The pandemic of COVID-19 had disrupted the financial and operational of the construction industry. Many projects have been closed and suspended, and this situation has caused great uncertainty in the construction industry. Even though the Instruction of the Minister of Public Work No. 2/2020 issued March 27, 2020, stated that construction activities in Indonesia could continue work. However, it still believes COVID-19 can lead to poor project cost performance. The study used a literature review to explore the factors contributing to the increase in project cost. A case study in the hotel construction project is used to test the factors. The research found six factors have a frequency of occurrence for each cause of cost overrun, namely labor, material, implementation time, project financial aspects, estimated cost, and occupational health and safety. The case study’s two factors are not the cause of the cost overrun based on the interviewee’s answer: heavy equipment and overhead. This paper also explains the mechanism to address cost overrun continue in construction work.

scholarly journals Study on Construction Resource Optimization and Uncertain Risk of Urban Sewage Pipe Network

2021 ◽  
Author(s):  
Xin Li ◽  
Jian Huang ◽  
Chunwei Li ◽  
Ning Luo ◽  
Wen Lei ◽  
...  
Keyword(s):  
Meteorological Data ◽  
Optimal Schedule ◽  
Simulation Method ◽  
Optimal Number ◽  
Pipe Network ◽  
Sewage Pipe ◽  
Urban Sewage ◽  
Optimal Resource ◽  
The Cost ◽  
The Impact

With considering sewage pipe network upgrading projects in the “villages” in cities, the optimization of construction resources and the assessment of delay risks could be achieved. Based on the schedule-cost hypothetical theory, the mathematical model with constraint indicators was established to obtain the expression of optimal resource input, and conclude the method to analyze the schedule uncertainties. The analysis showed that cyclical footage of pipe could be regarded as a relatively fixed value, and the cost can be regarded as a function that depending on the number of working teams. The optimal number of teams and the optimal schedule occurred when the minimum total cost achieved. In the case of insufficient meteorological data, the Monte Carlo simulation method and uncertainty analysis method can be applied to assess the impact of rainfall on the total construction period, correspondingly the probability of such risk could be derived. The calculation showed that the risk of overdue completion varied significantly according to the construction starting time. It was necessary to take rainfall risk into consideration and make corresponding strategies and measures.

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