Cost Model and Time-cost Analysis of a Sustainable Single Storey Residential Building

Abstract

With the rapid increase in construction and the innovative techniques being employed to speed up the construction work which is repetitive in nature like residential building complexes etc., the need for optimizing the time taken to complete a project with respect to its cost has become utmost importance. A time-cost trade-off is thus made to guarantee effective utilization of resources to achieve the optimized duration and cost. As in the real world scenario a balance has to be made between the time employed and the cost associated with finishing the residential building project. Generally, while planning certain assumptions are made but the ground reality may differ and lead to a behind-the-schedule situation. This problem can be resolved by deploying the time-cost tradeoff analysis. As reduction in time brings along additional cost due to increased direct cost as well as reduced indirect cost, a time-cost trade-off helps in determining the most optimized duration and cost to bring the project back on track. The thesis study is an implementation of the time-cost trade-off analysis on a realistic project and focuses on determining the most optimized cost and duration for the construction of a sustainable single storey residential building in Solan (H.P) using constraints like the prevalent market rates for the material and labor by preparing a cost model for varying time durations with the help of software’s like PRIMAVERA P6, AUTODESK REVIT and MS EXCEL to schedule, model and estimate the quantities and cost for the single storey residential building. And using the data from these to make a comparative analysis of various departmental schedules like H.P. FOREST DEPTT., H.P.P.W.D, H.P.I.P.H, C.P.W.D, rates from local contractors and to design a user-form using VBA macro enabled program in MS EXCEL to represent data collected and certain variations that can be included.