FREE PROJECT DOCUMENT ON AUTOMATION OF TIME COST TRADE OFF ANALYSIS

AUTOMATION OF TIME COST TRADE OFF ANALYSIS


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DEPARTMENT OF COMPUTER SCIENCE

FACULTY OF SCIENCE

MADONNA UNIVERSITY, NIGERIA.

AUGUST 2016

ABSTRACT

Time Cost Trade Off (TCTO) is a process to identify suitable project activities for speeding up and deciding by how much so as to attain the best possible saving in both time and cost for that project . The objective of TCTO is to reduce the original project duration, determined from the critical path, to meet a specific deadline with the least cost . Performing this computation in the past was prone to error, became complex as well as tedious when the size of data was increased and also of technical knowhow of individuals was a problem. This analysis involves the computation of the TCTO model using the Simple Critical Path Method TCTO Algorithm which in the past was done manually. In this work, time and the resource used resulting to the overall cost of the project are considered and the different cost involved in a project . The aim of this work is to automate TCTO analysis by building a system which will help project managers and individuals alike to perform this computation easier and accurately with little or no knowledge of the model in other to save time using Python Programming Language implemented as a desktop software.


CHAPTER 1
INTRODUCTION

1.1 BACKGROUND OF STUDY
Time/cost trade-off is a process to identify suitable project activities for speeding up and for deciding by how much so as to attain the best possible saving in both time and cost , the objective of the time-cost trade-off is to reduce the original project duration, determined form the critical path, to meet a specific deadline, with the least cost . In addition to that it might be necessary to finish the project in a specific time. Time/cost trade-off is one of the highly important challenges in project execution and has been taken into consideration by project manager. A project in construction contains many uncertainties. It requires a number of resources and a large amount of investment. Time and cost are main management goals. Contractors want to get the highest profit so they must plan to complete the job in early time with a minimum cost . It is general realized that when project duration is compressed the project will call for an increase in labour and more procurement equipment and require more demanding procurement and their cost will increase.

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