Optimization of Contractor's S-Curve

Lo, Wei; Chen, Yih-Tzoo

doi:10.22260/isarc2007/0069

Cited by 8 publications

(6 citation statements)

References 13 publications

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“…A correct work plan, characterised by a reasonable work and expenditure schedule, increases the efficiency of the work and allows the contract to be executed at the lowest cost [22]. The final verification of the correctness of the schedule development, i.e.…”

Section: Liteature Reviewmentioning

confidence: 99%

Forecasting the Course of Cumulative Cost Curves For Different Construction Projects

SZÓSTAK

2023

Civil and Environmental Engineering Reports

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Planning the course of cumulative cost curves and effectively monitoring the implementation process and the incurred financial outlays are still significant problems in the management of construction projects. This is particularly noticeable during the execution phase of construction works. Therefore, it is worthwhile to correctly determine the shape of the cost curve before starting this stage and to periodically examine its fitting to the scheduled course of the budgeted cost curve, the envelope of cost curves characterised by the best-fit curve. There are many methods of forecasting and estimating the costs of construction works, but they are very often complicated and require the decision-maker to use and elaborate mathematical tools. The aim of the research was to determine the shape and course of the cost curves for selected construction projects. Based on the analysis of the collected data on investment projects in 3 facilities research groups (collective housing, hotels and retail service facilities), an original attempt was made to determine the best fit curve and the area of the curve, which in turn indicates the limits of the correct planning of the cumulative costs of construction projects. The Three Sigma rule was applied, correlations and determinants were determined, and the area of the cost curves was described with a third degree polynomial. The conducted research showed that: 1. the optimal formula for determining the best-fit curve, which allow to determine the cost and time of construction works, is a 3-degree polynomial; 2. cost curves, within a certain bounding box, determine the area of the most likely cash flow; 3. when planning the course of a cost curve, it is advisable to use the bounding box of cost curves rather than a single, model, theoretical, or empirical mathematical expression describing the cost curve.

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Section: Liteature Reviewmentioning

confidence: 99%

Forecasting the Course of Cumulative Cost Curves For Different Construction Projects

SZÓSTAK

2023

Civil and Environmental Engineering Reports

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“…Conventionally, S-Curve has long been adopted as an important baseline in project control system to monitor the project performance most owners take it as part of contractual document to control the contractor progress, while contractors use it to manage progress and cash flow. 6 Consequently it is to say that the initial, most essential and influential cautionary sign of the project condition, is S-Curve.…”

Section: Monitoring and Controlling The Projectmentioning

confidence: 99%

Presenting Countermeasures against Deviations in Projects Progress, Using Improved S-Curve

Cyrus¹,

Maaleki²

2016

World Congress on Mechanical, Chemical, and Material Engineering

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One of the greatest issues of project-driven organizations is the delay in their completion. Delay which has a nature of deviation basis and sometimes look so normal. Delay which instead of playing the role of a caution to managers, acts as a repetitive action. In such a situation the managers prefer to use the control tools and management of projects so that they can take a step for betterment. From these kinds of graphs we can mention Bullet Graph, Bar Graph, Pie Graph and S-Curve. Among these tools, S-Curve can be mentioned as one the essential ones. In this article, first we are going to define this curve; analysing its different usages, we will start with evaluating the role of this curve in management of deviation in the project and identify the problems and issues related to the usage of this curve in the second place. Finally, we will consider solving this problem, develop the S-Curve and introduce a new curve with the title of OS-Curve and apply it in two different projects and present its conclusions.

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“…Managers managing complex construction contracts use key words to assess the progress of their schedules, fully describing planned and actual turnover, budget, and timeliness of implementation [4,5]. These include simple control indicators of the earned value method, used in the strategic assessment of the condition of the project-when monitoring the progress of works using the indicator method [6][7][8][9]. The EVM method is one of performance-based project management methods and is an effective tool for controlling projects in terms of costs, time, and scope of works done [10].…”

Section: Introductionmentioning

confidence: 99%

Monitoring of Time and Cost Variances of Schedule Using Simple Earned Value Method Indicators

Przywara

Rak

2021

Applied Sciences

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The Planning and implementation of construction projects are difficult processes and are burdened with many risk elements. The budget spread over time, which is developed on the basis of the schedule, presents the expected distribution of costs throughout the duration of the works, which during the implementation of the project is subject to constant changes resulting from time, cost, and organizational factors. Managing construction contracts requires managers to be able to analyze on an ongoing basis the variances of production costs-from the values calculated in the offer cost estimate and assumed in the Budgeted Cost of Work Scheduled. The article attempts to analyze the emerging time and cost deviations using proprietary time variances from the schedule (T/S) and variances from planned costs (T/C) monitoring, based on simple indicators of the earned value method (EVM). An example of construction of a multi-family housing development was used to study the variances of planned and incurred costs.

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Optimization of Contractor's S-Curve

Cited by 8 publications

References 13 publications

Forecasting the Course of Cumulative Cost Curves For Different Construction Projects

Forecasting the Course of Cumulative Cost Curves For Different Construction Projects

Presenting Countermeasures against Deviations in Projects Progress, Using Improved S-Curve

Monitoring of Time and Cost Variances of Schedule Using Simple Earned Value Method Indicators

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