Khosrowshahi, F (1997) The optimum project duration and cost curve for Hong Kong public housing projects. Engineering, Construction and Architectural Management, 4(4), pp. 249-269. ISSN 0969-9988
Abstract
Project duration and cost play a significant role in fulfilling the objectives of both the contractor and the client. This paper builds upon the assumption that, for a given project quality, there exists a relationship between the project duration and the project cost. The behaviour of this relationship is very much influenced by the nature of the project. The paper proposes a general set of potential mathematical expressions for the above relationship and facilitates the identification of the project duration which yields lowest project cost. These are then applied to Harmony' type housing projects in Hong Kong. Moreover, while demonstrating the difference between the contractor's optimum cost-time curve and that of the client, the paper suggests that the parties can select one of three options to reach a compromise. To this end, the paper introduces a set of mathematical expressions to represent these compromise-solutions.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | activity crashing; cost-time trade off; Hong Kong; housing; optimum project cost; project duration |
| Index terms: | option, duration, project cost, public housing, housing project, housing, Hong Kong, crashing |
| Subjects: | project controls, decision analysis, economics, construction type, Geography, housing and residential development |
| Topics: | Cost Management, Risk Management, Geographical Context, Urban Studies, Time Control, Construction Technology |
| Descriptive scope: | 2 PC |
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