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 [ › MATH_SCI › Archive › 3.ISCA-RJMSS-2013-018.pdf].

Setup assumptions for TimeCostCurve program:

Assumptions: Assumed Value: Remarks:
  1. Overheads:

Rs 15,500/day
  1. Fixed (sunk) costs:

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