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    • time in project management

    time in project management

    • Posted by Hany Ismail, MSC, PMP
    • Categories Project Management
    • Date February 2, 2013
    • Comments 1 comment

    Time in project management or Time-Cost Trade-Off:

    is the relationship between activity time and cost. by assigning more workers  to a particular activity will normally result in a shorter duration. greater speed may result in higher costs and lower quality, however. In this topic, we shall consider the impacts of time and cost trade-offs in activities.


    time in project management
    time in project management

    Why do we need to reduce project time and what is the value of time in project management?

    Finish the project in a predefined deadline date

    Recover early delays to avoid liquidated damages

    Free key resources early for other projects

    Avoid adverse weather conditions that might affect productivity

    Receive an early completion-bonus

    Improve project cash flow by the scheduling techniques ( reduce project duration)


    What is the way to reduce activity duration?

    time management project
    time management project

    by Working extended hours (Over time)

    Offering incentive payments to increase the productivity

    Using additional resources

    Using materials with faster installation methods

    Using alternate construction methods or sequence


    Activity Time-Cost Relationship:

    Total project costs include both direct costs and indirect costs of performing the activities of the project. Direct costs for the project include  the costs of materials, labor, equipment, and subcontractors. Indirect costs, on the other hand, are the necessary costs of doing work which can not be related to a particular activity, and in some cases can not be related to a specific project

    Decreasing activity duration will increase its cost which related to Project direct cost = summation of direct cost of individual activities.

    time and cost management project
    time and cost management project

    Decreasing activity duration will decreases Project indirect cost = daily indirect cost x project duration.

    time in project management is very valuable factor and we use time management project to find the point between direct cost and indirect cost which equal to minimum cost of the project or Optimum Duration.project management time.


    Shortening Project Duration (Optimum Duration):

    Start by shortening the activity duration on the critical path which has the least cost slope and not been shortened to its crash duration.

    The cost increase due to activity shortening is calculated a cost slope multiplied by the time of time units shortened.

    Continue until no further shortening is possible, and then the crash point is reached.

    The results may be represented graphically by plotting project completion time against cumulative cost increase.

    Project Time-Cost Relationship
    Project Time-Cost Relationship

    using time management project techniques you should be able to identify the Optimum Duration as shown in the figure on the right.

    The objective of the time-cost trade-off analysis is to reduce the original project duration, determined form the critical path analysis, to  meet a specific deadline, with the least cost.

    time in project management is critical in today’s market-driven economy.


    Tag:on time project management, project management and time management, project management time, project on time management, time in project management, time management in project, time management project, time project management

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    Hany Ismail, MSC, PMP
    Hany Ismail, MSC, PMP

    Hany Ismael is the founder and CEO of Planning Engineer Est. in Egypt. He has started his career back in 2003 as a site engineer, technical office engineer, planning engineer, planning manager, and finally planning department manager where he has been involved in several mega construction projects in Egypt and Saudi Arabia. In 2016, he established his own company in Egypt “Planning Engineer Est.” Hany gained his MSc degree in project management from Liverpool University-UK 2013-2016, PMP certified from PMI-USA 2010, and BSc Civil Engineer Tanta University-Egypt 2003. Hany provided more than 3,500 hours of planning and project management training on his website planningengineer.net, YouTube channel, and offline courses since 2011. He enjoys teaching project management in simple and practical way, and he developed several planning tools, techniques and courses.

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      1 Comment

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      Hasan Jlelaty
      February 3, 2013
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      thank you

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