If the Project Manager decides the project must be completed in the shortest time possible, what advise should the Project Planner give? Read on to see how all key advice can be provided through the #TimeCostCurves program.
Figure 1: Setup the schedule for producing the TimeCostCurve.
Figure 2: Normal schedule. Note that Overhead Costs are ignored for this example.
Figure 3: TimeCostCurve
|Advise based on TimeCostCurve program|
|Schedule:||Duration (days):||Cost ($):||Remarks:|
|Normal schedule||12 days||$1,900|
|Least-cost schedule||N/A (since overheads are ignored)||By inspection if O/H were say $110 per day, this would result in a 9-day schedule.|
|Least-time schedule||6 days||$2,500|
|Fully-crashed schedule||6 days||$2,700||Activity C can be shortened but it is not on the critical path.|
Figure 4: Least-time schedule