Tse, R Y C and Love, P E D (2003) An economic analysis of the effect of delays on project costs. Journal of Construction Research, 4(2), pp. 155-160. ISSN 1609-9451
Abstract
When a delay occurs in a project, there are basically two options: prescribing overtime work and injecting additional resources, in order to meet the project schedule of certain activities. This paper uses economic analysis to demonstrate that a decision maker will select the most suitable alternative by considering productivity losses in overtime work and the relative unit costs between different labor and resource inputs. The paper also suggests some avenues for future empirical research in construction overtime work.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cost; rework; overtime; productivity |
| Index terms: | option, project cost, economic analysis, unit cost, rework, productivity |
| Subjects: | management, financial and cost management, decision analysis, economics, operations management, design analysis |
| Topics: | Business Strategy, Cost Management, Design Practice, Project Management, Risk Management |
| Descriptive scope: | 3 PCA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here