This work contributes to improving available methodologies for duration and cost estimates of ongoing projects with nonlinear cost profiles. It is demonstrated that accurate time estimates can be made when a generalized mathematical formulation of the Earned Schedule and the point estimate methodology are used. It also highlights the advantages of using these duration estimate methodologies to provide more accurate nonlinear schedule-based cost estimates at completion. This is shown via application and comparison of the proposed methodologies to datasets of eight real case projects from the construction industry. In particular, the defined methodologies tend to perform better, on average, than traditional index-based formulae, especially in the early stages of project development when the practical benefits are the greatest for project teams to take their corrective actions.

Earned schedule formulation using nonlinear cost estimates at completion / Warburton, Roger D. H.; DE MARCO, Alberto; Sciuto, Francesco. - In: JOURNAL OF MODERN PROJECT MANAGEMENT. - ISSN 2317-3963. - STAMPA. - 5:1(2017), pp. 75-81. [10.19255/JMPM01307]

Earned schedule formulation using nonlinear cost estimates at completion

DE MARCO, Alberto;SCIUTO, FRANCESCO
2017

Abstract

This work contributes to improving available methodologies for duration and cost estimates of ongoing projects with nonlinear cost profiles. It is demonstrated that accurate time estimates can be made when a generalized mathematical formulation of the Earned Schedule and the point estimate methodology are used. It also highlights the advantages of using these duration estimate methodologies to provide more accurate nonlinear schedule-based cost estimates at completion. This is shown via application and comparison of the proposed methodologies to datasets of eight real case projects from the construction industry. In particular, the defined methodologies tend to perform better, on average, than traditional index-based formulae, especially in the early stages of project development when the practical benefits are the greatest for project teams to take their corrective actions.
File in questo prodotto:
File Dimensione Formato  
JMPM013_paper07.pdf

accesso aperto

Descrizione: Manuscript
Tipologia: 2. Post-print / Author's Accepted Manuscript
Licenza: Creative commons
Dimensione 791.79 kB
Formato Adobe PDF
791.79 kB Adobe PDF Visualizza/Apri
Pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11583/2674510
 Attenzione

Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo