Time-cost optimization of building projects

Traditional wisdom suggests that when it comes to construction projects, any effort that might be made to shorten the planned schedule will necessarily lead to increased costs. In Time-Cost Optimization of Building Projects, however, author Uzair Waheed, B.E., PMP shows that it might just be possible, under certain conditions, to actually decrease both time and cost for building projects. After examining the existing research on the relationship between time and cost in construction projects, the author provides an overview of the project management process and examines the various stages -- including initiation, planning, execution, monitoring and control, and closing -- that managers and engineers need to consider as they embark upon a new building project. Using Primavera Project Management (P6) v7.2 software to conduct detailed project simulations and compare them with a baseline, standard scenario, the author then analyzes alternative project plans. Using extensive examples and taking into account all the factors that may come into play -- from delays in acquiring materials to the idea of fast tracking a project to save time -- the author illustrates how project managers might find ways to execute their plans in a manner that saves both time and cost, resulting in added profitability for their projects