Level: Intermediate
TCM Section(s)
9.2. Progress and Performance Measurement
7.2. Schedule Planning and Development
Venue: 2024 AACE International Conference & Expo
Abstract: The construction industry has been carrying out projects of increasing complexity during the last two decades. In this process, change management has become a key activity; however, changes might impact project schedules that, while not always directly affecting the completion date, they do increase the risk of eventual non-compliance.
This paper is the result of a thorough investigation of project schedule float properties with the objective of producing a simple metric to measure the ability of project schedules to absorb disruptive events without breaching the contractual key milestones.
The paper starts by proving the limits of the earned value management (EVM) methodology for the discussed topic and why total float is a flawed metric to measure disruption. It continues showing how the focus can move from tracking activities to tracking project paths within the schedule by calculating a new float metric, which is named path float (PF). PF is based on certain properties of total float and free float that have never been addressed.
Finally, the project baseline PF curve, the contemporary PF, and the contemporary scope-to-complete are used to calculate the target key performance indicator (KPI) named float performance index (FPI).
TCM Section(s)
9.2. Progress and Performance Measurement
7.2. Schedule Planning and Development
Venue: 2024 AACE International Conference & Expo
Abstract: The construction industry has been carrying out projects of increasing complexity during the last two decades. In this process, change management has become a key activity; however, changes might impact project schedules that, while not always directly affecting the completion date, they do increase the risk of eventual non-compliance.
This paper is the result of a thorough investigation of project schedule float properties with the objective of producing a simple metric to measure the ability of project schedules to absorb disruptive events without breaching the contractual key milestones.
The paper starts by proving the limits of the earned value management (EVM) methodology for the discussed topic and why total float is a flawed metric to measure disruption. It continues showing how the focus can move from tracking activities to tracking project paths within the schedule by calculating a new float metric, which is named path float (PF). PF is based on certain properties of total float and free float that have never been addressed.
Finally, the project baseline PF curve, the contemporary PF, and the contemporary scope-to-complete are used to calculate the target key performance indicator (KPI) named float performance index (FPI).