Sohail, M and Edum-Fotwe, F T (2000) Cost-duration tool for policy decision on micro and small projects. Journal of Financial Management of Property and Construction, 5(3), pp. 111-122. ISSN 1366-4387
Abstract
For policy makers connected with infrastructure developments, a decision on whether a particular scheme should be pursued or abandoned will be influenced in no small measure by the overall cost and duration involved in undertaking the scheme. The speed with which such a decision can be arrived at and the cost and time involved in generating the information for making such decisions is equally crucial. For medium to large projects, the cost and time for generating this information is insignificant compared to the overall scheme cost and duration. This however, is not the case for schemes that fall into the magnitude that is categorised as micro and small. The paper presents a simple graphical tool that can be employed to facilitate the decision of policy makers involved in such small and micro projects. The tool was developed with data from 132 micro projects using statistical modelling techniques, and provides a quick and cost effective means of arriving at the information that should support policy decisions relating to small and micro projects.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | micro projects, cost, duration, infrastructure, non-linear regression |
| Index terms: | infrastructure development, statistical modelling, duration, small project |
| Subjects: | infrastructure engineering, production management, statistical analysis, project controls |
| Topics: | Time Control, Research Practice, Engineering Principles, Project 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