Title

An Economical Analysis of the Effect of Delays on Project Costs

Document Type

Journal Article

Publisher

World Scientific Publishing Co

Faculty

Business and Public Management

School

Business

RAS ID

1864

Comments

This article was originally published as: Tse, R. Y. S., & Love, P. (2003). An Economical Analysis of the Effect of Delays on Project Costs. Journal of Construction Research, 4(2), 155-161. Original available here

Abstract

When a delay occurs in a project, there are basically two options: prescribing overtime work and injecting additional resources, in order to meet the project schedule of certain activities. This paper uses economic analysis to demonstrate that a decision maker will select the most suitable alternative by considering productivity losses in overtime work and the relative unit costs between different labor and resource inputs. The paper also suggests some avenues for future empirical research in construction overtime work.

DOI

10.1142/S1609945103000376

 

Link to publisher version (DOI)

10.1142/S1609945103000376