Cost-Time-Risk Diagram: Project Planning and Management

Cost-Time-Risk Diagram: Project Planning and Management

This article presents the integration of cost and time performance measurement with project risk analysis into one diagram, called the Cost-Time-Risk diagram (CTR). The author believes the presented CTR diagram is a revolution in earned value analysis. It plots the total brainstorming of project cos...

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Veröffentlicht in:Cost engineering (Morgantown, W. Va.) W. Va.), 2006-11, Vol.48 (11), p.12-18
Hauptverfasser: Aramvareekul, Peerapong, Seider, Daniel J
Format: Artikel
Sprache:eng
Schlagworte:
Cost engineering
Costs
Decision making
Performance evaluation
Planning
Project management
Quality control
Risk assessment
Risk factors
Schedules
Statistical data
Value analysis
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Zusammenfassung:This article presents the integration of cost and time performance measurement with project risk analysis into one diagram, called the Cost-Time-Risk diagram (CTR). The author believes the presented CTR diagram is a revolution in earned value analysis. It plots the total brainstorming of project cost-time planning versus actual production. It also integrates evaluation of internal risks, external risks, and project specific risks. The steps to prepare and to operate the CTR diagram are explained. The article also illustrates, with graphical movement, decision-making information that many project managers struggle in developing. [PUBLICATION ABSTRACT]
ISSN:0274-9696