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: |
|---|---|---|
|
$ 9,000/day | |
|
$79,000 | Direct (normal) costs |
Figure 2: Normal conditions schedule.
Figure 3
Figure 4: TimeCostCurve with crashed Activity ID’s at data points
Advice based on TimeCostCurve program:
| Schedule: | Duration (days): | Cost ($): | 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