Cost impact of float loss on a project with adjustable activity durations

W Lo and Kuo M-E
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W Lo: National Kaohsiung First University of Science and Technology (NKFUST), Kaohsiung City 811, Taiwan (R.O.C.)
Kuo M-E: National Kaohsiung First University of Science and Technology (NKFUST), Kaohsiung City 811, Taiwan (R.O.C.)

Journal of the Operational Research Society, 2013, vol. 64, issue 8, 1147-1156

Abstract: Although delays to non-critical activities within the float do not always affect the overall completion time of a project, they commonly cause disputes over the impact cost and apportionment resulting from the complexity of resource utilization in construction projects. Therefore, considerable attention has been focused on providing an effective and reliable method for analysing the effects of float loss. Several recent studies have proposed various methods; however, most of these methods are based on the assumption of a fixed duration for each activity or activity-based cost simulation. Few studies have considered the trade-off between time and costs and the integration of project resources. Using genetic algorithms, this study introduces a critical path method (CPM)-modified resource-integrated optimization model and successfully quantifies the impact of float loss on the total cost of the project. The results provide objective quantification for accurately evaluating the impact of within-float delays and facilitate the analysis of the impact of delay claims on cost and apportionment in construction projects.

Date: 2013
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