Cost Impact of Float Loss on a Project with Time-cost Trade-off

• Main Authors: Ming-En Kuo, 郭明恩
• Other Authors: none
• Format: Others
• Language: en_US
• Published: 2013
• Online Access: http://ndltd.ncl.edu.tw/handle/55711823187629963496

博士 === 國立高雄第一科技大學 === 工程科技研究所 === 101 === Although delays to non-critical activities within the float do not always affect the overall completion time of a project, they commonly cause disputes over the impact cost and apportionment resulting from the complexity of resource utilization in construction projects. Therefore, considerable attention has been focused on providing an effective and reliable method for analyzing the effects of float loss. Several recent studies have proposed various methods; however, most of these methods are based on the assumption of a fixed duration for each activity or activity-based cost simulation. Few studies have considered the trade-off between time and costs and the integration of project resources. First, this research introduces a critical path method (CPM)-modified resource-integrated model using genetic algorithms (GAs). Under the assumption of a non-linear quadratic relationship between resource efficiency and working duration, the proposed model incorporates the adjustment of activity durations and resource allocation into the CPM to identify the optimal realistic schedule. Subsequently, the quantification of the impact of float loss can be determined definitively by comparing the baseline schedule with the after-impact schedule. An application example was conducted in this research to test the validity and performance of the proposed model. This research suggests that the utilization of float is not free when the optimal schedule is disrupted. Float apportionment will never be reasonable unless the cost associated with float loss is taken into consideration. The proposed method provides an objective approach in which the impact of within-float delays on non-critical paths can be evaluated accurately. Thus, it enables managers to plan the use of float and evaluate the resource utilization plan during construction and facilitates the analysis of the impact on cost and apportionment associated with delay claims in construction projects.