2019-09-20 11:46

Sixteenth Example — Cosmos Project

If the Project Manager has a costed project schedule and wants to know options for minimising the project duration, what advice should the Project Planner provide? Read on to see how all key information can be provided through the #TimeCostCurves program.

Figure 1: Costed project schedule setup for producing the TimeCostCurve.

Setup assumptions for TimeCostCurve program:

Assumptions: Assumed Value: Remarks:
  1. Overheads:

$ 9,000/day
  1. Fixed (sunk) costs:

$79,000 Direct (normal) costs

Figure 2: Normal conditions schedule.

Figure 3

Figure 4: TimeCostCurve with crashed Activity IDs at data points

Advice based on TimeCostCurve program:

Schedule: Duration (days): Cost ($): Remarks:
Normal schedule 17 days 232,000
Least-cost schedule 15 days 226,000
Least-time schedule 15 days 226,000 Same as least-cost schedule since total cost curve is linear in this case
Fully-crashed schedule 15 days TBD

Figure 5: Least-time schedule


example timecostcurve timecostproblemsolved


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Thirteenth Example — Reinforced Concrete Works for Residential Tower Project with Empirical Time and Cost Data If the Project Manager has a costed project schedule and wants to know options for minimising the project duration, what advice should the Project