2019-09-17 12:52

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 Planner provide? Read on to see how all key information can be provided through the #TimeCostCurves program.

Figure 1: Since the task list is >100 tasks, this view is the summary tasks only of the costed project schedule setup for producing the TimeCostCurve. Cost figures are derived from the source [Project crashing to solve Time-Cost Trade-off”, which was described in the 2016 issue of the SSRG International Journal of Civil Engineering (SSRG IJCE)].

Setup assumptions for TimeCostCurve program:

Assumptions: Assumed Value: Remarks:
  1. Overheads:

Rs 5,000,000/day
  1. Fixed (sunk) costs:

Rs 1,343,921,399 Direct (normal) costs

Figure 2: Since the task list is >100 tasks, this view is the gantt chart of the summary tasks only of the costed project schedule.

Figure 3: Since the task list is >100 tasks, this view is the non-summary critical tasks only of the costed project schedule setup for producing the TimeCostCurve.

Figure 4: Since the task list is >100 tasks, this view is the non-summary critical tasks only of the normal conditions schedule.

Figure 5: TimeCostCurve (Note the currency should read Indian Rupees (Rs) rather than AUD)

Advice based on TimeCostCurve program:

Schedule: Duration (days): Cost (Rs): Remarks:
Normal schedule 451 days (100%) Rs 3,598,921,399 (100%)
Least-cost schedule 412 days (91%) Rs 3,527,584,597 (98%)
Least-time schedule 330 days (73%) Rs 3,975,438,685 (110%)
Fully-crashed schedule 330 days (73%) Rs 3,996,862,457 (111%)

Figure 6: Least-time schedule. Since the task list is >100 tasks, this view is the non-summary tasks only of the least-time schedule, with the activity ID noted inside each activity bar.


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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