In Project Management Time-Cost
Trade-Off, all significant human undertakings can be viewed as projects; some have more successful outcomes than others. Project
Management Time-Cost Trade-Off is essential both to the individual worker planning his own work and the multinational company
developing new production facilities for the next century. The first stage is to examine the possible projects, estimating
their costs, benefits and risks. The best options are then analyzed in more detail: their costs, time schedules and resource
implications are all assessed. For the Project Management Time-Cost Trade-Off alternative project plans are considered and
the best plan is implemented. Throughout the project the manager must keep control of the schedule, cost and technical quality
to ensure successful completion on time and to budget.
In addition to the common sense
about the Time-Cost Trade-Off there are many Project Management Time-Cost Trade-Off courses which introduce various techniques
and their application. The first part of the course considers the evaluation and selection of projects, while the second part
examines their management by taking the trade-off in between. The techniques are illustrated with examples in a variety of
industries, including software systems’ developments. A number of case studies will be examined, analyzing some of the
dramatic projects of recent years, including:
Challenger disaster, a preventable tragedy?
a £400 Million IT failure?
Channel Tunnel, a financial disaster or a technological triumph?
London Ambulance Service’s computer aid dispatch system.
Jubilee Extension Line, a project fit for a Queen?
Lak Kok, Hong Kong's new airport
Hydro development project, reconciling engineering & social development
Scottish Parliament Building, a devolved folly?
Project Management Time-Cost Trade-Off Course Objectives:
course should enable students to:
the practicalities of project evaluation and management;
and use techniques for the evaluation, planning and management of projects;
the issues and problems in being a project manager;
the use of computer software in project evaluation and management. This will centre on the use of Microsoft Project and Excel