The real life situations of the cost time curve in comparison to the assumption of its being linear. Concept Introduction: Everyactivity /a set of activities have the costs to be incurred and the time of completion. The time and the cost always have a relationship i.e. cost of completion in a given time and vice versa i.e. time of completion for a given cost budget. Both are variable and each may or may not vary in direct proportion to the variation in the other variable. This is discussed below in terms of normal time/cost; crash time/cost; de-crashed time/cost wart projects.(De-crashing is used to reduce costs of non-critical activities by increasing the times because such time increase does not increase the total project time but reduces the resource requirements).

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Chapter 10.3, Problem 9P

Summary Introduction

Interpretation:The real life situations of the cost time curve in comparison to the assumption of its being linear.

Concept Introduction: Everyactivity /a set of activities have the costs to be incurred and the time of completion. The time and the cost always have a relationship i.e. cost of completion in a given time and vice versa i.e. time of completion for a given cost budget. Both are variable and each may or may not vary in direct proportion to the variation in the other variable. This is discussed below in terms of normal time/cost; crash time/cost; de-crashed time/cost wart projects.(De-crashing is used to reduce costs of non-critical activities by increasing the times because such time increase does not increase the total project time but reduces the resource requirements).

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