Analysis of techniques leading to radical reduction in project cycle time

Today's construction business relies on first-to-market product strategies to gain competitive advantages and increase profit margins. This has created an increased demand for a high performance capital project delivery system that can achieve a dramatic reduction in project cycle time. Very few decision tools and guidelines exist to assist owners in choosing appropriate delivery systems and project strategies to radically reduce the project cycle time from the preplanning stage through start up. The research presented in this paper surveyed the construction owners and architectural/engineering/construction firms to identify projects that have achieved greater than 25% reduction in overall project cycle time when compared to current industry standards. The data collected were analyzed to determine the techniques that facilitate radical reduction in project cycle time. These techniques include, best practices and schedule reduction techniques as well as the various management techniques employed on the projects identified by the Construction Industry Institute (CII). This research also identified the barriers to radical schedule reduction. The research concludes that radical schedule reduction well in excess of 25% can be achieved through the selective employment of management techniques, schedule reduction techniques and CII best practices. Almost every construction manager can utilize this research to improve project performance whether for radical reduction or simply more effective execution.