It is commonly accepted that construction cost, time and quality performance has been regarded as the major success factors for a construction project. With the increasing use of innovative contracts in highway construction, the relationship between construction cost and time has become more crucial than ever. Improved control of time value has become necessary, for quantifying the functional relationship between construction cost and time. This study explores the functional relationship between highway construction cost and time. Data from projects of the Florida Department of Transportation (FDOT) in the US is utilized to develop and illustrate the quantifying model. The proposed model provides State Highway Agencies (SHAs) and contractors with increased control and understanding regarding the time value of highway construction projects.
Shr, Jin-Fang and Chen, Wei-Tong
"FUNCTIONAL MODEL OF COST AND TIME FOR HIGHWAY CONSTRUCTION PROJECTS,"
Journal of Marine Science and Technology: Vol. 14:
3, Article 1.
Available at: https://jmstt.ntou.edu.tw/journal/vol14/iss3/1