Twelfth Example – Acquiring Quarry Material for Road Construction 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: Costed project schedule setup for producing the TimeCostCurve. Cost figures are derived from the source webpage [www.isca.in › MATH_SCI › Archive › 3.ISCA-RJMSS-2013-018.pdf].
Setup assumptions for TimeCostCurve program:
| Assumptions: | Assumed Value: | Remarks: |
|---|---|---|
|
Rs 15,500/day | |
|
Rs 4,787,740 | Direct (normal) costs |
Figure 2: Normal conditions schedule.
Figure 3: TimeCostCurve with Task ID data points
Advice based on TimeCostCurve program:
| Schedule: | Duration (days): | Cost (Rs): | Remarks: |
|---|---|---|---|
| Normal schedule | 45 days | Rs 5,485,240 | |
| Least-cost schedule | 38 days | Rs 5,417,170 | |
| Least-time schedule | 33 days | Rs 5,475,470 | |
| Fully-crashed schedule | 33 days | TBD |
Figure 4: Least-time schedule