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Who use time-cost tradeoff analysis for their project?

1 reply [Last post]
Chachrist Srisuwa...
User offline. Last seen 15 years 27 weeks ago. Offline
Joined: 9 Jan 2007
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i just post a new webpage about time-cost tradeoff analysis. So i want to share with friends here.

i wonder who’s ever done time-cost tradeoff analysis for their project. And what do you do?
thanks in advance for your reply.


James Barnes
User offline. Last seen 1 year 9 weeks ago. Offline
Joined: 6 Sep 2007
Posts: 243
From our point of view, shortening a single activity usually means one of 2 things;

Increase resource availability
Introduce another shift

Both obviously have their own constraints and effects on efficiency

We do basically what your guide says, starting with our critical paths and double shifting work or increasing team sizes to shorten them. We do this manually, considering the cost of each change as we make it.

We’re not trying to save indirect costs as far as staffing’s concerned but lost opportunities in unit production, which often exceeds the work costs themselves. Sometimes we are constrained by the total labour force availability, thus we can only shorten the critical paths by a certain amount before we generate Critical Mass in the multitude of long lag activities. This is less common in newbuild projects where most activities rely on others therefopre creating many long paths. Most of our scope items are independant of one another.

We are also keenly aware that generating multiple critical paths is to be done with caution.