Analysis of Duration and Cost Estimate of Construction Projects Through Computer Simulation
Dukic, D.
Marie, T.
Babic, D.
Res. & Bus. Consultancy, Osijek;
This paper appears in: Information Technology Interfaces, 2007. ITI 2007. 29th International Conference on
Publication Date: 25-28 June 2007
On page(s): 107-112
Location: Cavtat,
ISSN: 1330-1012
ISBN: 953-7138-10-0
INSPEC Accession Number: 9793587
Digital Object Identifier: 10.1109/ITI.2007.4283753
Current Version Published: 2007-08-08
Abstract
Computer simulation has found its place in the field of construction project management as well. Its usage in solving the scheduling problem can significantly enhance the project manager's decision-making, especially in today's complex operating conditions. The model of analysis of duration and cost estimate of construction projects, as presented in this paper, is based on a computer simulation. The theoretical framework for generating random numbers has been laid down by the triangular distribution. A key role in the model is played by statistical analysis whose usage ultimately results in establishing an appropriate confidence interval for the mean project duration.
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