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Bayraktar, M E, Hastak, M, Gokhale, S and Safi, B (2011) Decision Tool for Selecting the Optimal Techniques for Cost and Schedule Reduction in Capital Projects. Journal of Construction Engineering and Management, 137(09), 645–55.
- Type: Journal Article
- Keywords: Project management; Decision support systems; Costs; Scheduling; Project management; Decision support systems;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000345
Projects must meet budget, schedule, safety, and quality goals to be regarded as a success. Many factors come into play, and many decisions are made that influence a project’s outcome. Today, owners are often faced with deciding between an execution strategy that emphasizes either project cost or project schedule. Such a decision may be made not once, but throughout the life of the project. Project teams, when required by the owner to make a cost-schedule trade-off, generate common sense ideas, best practices, and other means of achieving the desired trade-off through brainstorming sessions. This paper offers a tool for systematically identifying the techniques which are most effective in achieving the trade-off goal. Project teams can then use these techniques in a timely fashion to increase the likelihood of project success.