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Keywords: optimization, float loss, resource allocation, genetic algorithms.

Summary

The impact of float loss is ambiguous and difficult to be assessed in the construction project. For decades, the critical path method (CPM) has been widely recognized as an effective tool for project scheduling, and based on the CPM scheduling, many techniques have been developed to analyze the time impact and the costs caused by the disruption of the project works. However, most were limited to the delay of the critical path and the overall project completion date. In recent years, although more and more attention has been drawn to the impact of the float loss on the resource allocation and the overall project cost, little progress has been made.

By using an optimization model, this research firstly developed an optimal schedule with the timing and the quantity for each type of resource required to complete each individual activity and then effectively identified the impact of float loss on overall project cost through a case study. The research results show that although the utilization of float will not cause the delay of the project finish date, it will cause the increase of the overall project cost when the optimal schedule is affected, and the relationship between the float loss and the overall project cost can be approximated as a step function. Therefore, it is strongly suggested that both client and contractor should be aware of the fact that the utilization of total float could be costly and that they should pay attention to the need of a new concept for the apportionment of the ownership of total float.

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Front Page Browse CCP CSETS CTR IJRT Other Authors Search Purchase Guide FAQ Contact us	Civil-Comp Proceedings ISSN 1759-3433 CCP: 92 PROCEEDINGS OF THE FIRST INTERNATIONAL CONFERENCE ON SOFT COMPUTING TECHNOLOGY IN CIVIL, STRUCTURAL AND ENVIRONMENTAL ENGINEERING Edited by: B.H.V. Topping and Y. Tsompanakis Paper 17 The Impact of Float Loss on the Project Cost W. Lo¹, Y.T. Chen^1,3 and W.S. Lin^2,3 ¹Institute of Engineering Science and Technology, National Kaohsiung First University of Science and Technology, Taiwan ²Department of Civil Engineering, National Taiwan University, Taiwan ³CECI Engineering Consultants, Inc., Taiwan doi:10.4203/ccp.92.17 purchase the full-text of this paper Full Bibliographic Reference for this paper W. Lo, Y.T. Chen, W.S. Lin, "The Impact of Float Loss on the Project Cost", in B.H.V. Topping, Y. Tsompanakis, (Editors), "Proceedings of the First International Conference on Soft Computing Technology in Civil, Structural and Environmental Engineering", Civil-Comp Press, Stirlingshire, UK, Paper 17, 2009. doi:10.4203/ccp.92.17 Keywords: optimization, float loss, resource allocation, genetic algorithms. Summary The impact of float loss is ambiguous and difficult to be assessed in the construction project. For decades, the critical path method (CPM) has been widely recognized as an effective tool for project scheduling, and based on the CPM scheduling, many techniques have been developed to analyze the time impact and the costs caused by the disruption of the project works. However, most were limited to the delay of the critical path and the overall project completion date. In recent years, although more and more attention has been drawn to the impact of the float loss on the resource allocation and the overall project cost, little progress has been made. By using an optimization model, this research firstly developed an optimal schedule with the timing and the quantity for each type of resource required to complete each individual activity and then effectively identified the impact of float loss on overall project cost through a case study. The research results show that although the utilization of float will not cause the delay of the project finish date, it will cause the increase of the overall project cost when the optimal schedule is affected, and the relationship between the float loss and the overall project cost can be approximated as a step function. Therefore, it is strongly suggested that both client and contractor should be aware of the fact that the utilization of total float could be costly and that they should pay attention to the need of a new concept for the apportionment of the ownership of total float. purchase the full-text of this paper (price £20) go to the previous paper go to the next paper return to the table of contents return to the book description purchase this book (price £78 +P&P)
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