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Cost and Schedule Controlling in Relation to Liquidity Management during Construction Projects
(2004)
The present paper describes a software application which can be used for relating the scheduled events of a construction project with the respective financial parameters, leading to an overall improvement in general controlling and liquidity management. For this purpose, existing construction schedules are taken and details of the assignment are recorded. Thus it becomes possible to assess a future payment status should changes in the designated schedule occur.
The methods currently used for scheduling building processes have some major advantages as well as disadvantages. The main advantages are the arrangement of the tasks of a project in a clear, easily readable form and the calculation of valuable information like critical paths. The main disadvantage on the other hand is the inflexibility of the model caused by the modeling paradigms. Small changes of the modeled information strongly influence the whole model and lead to the need to change many more details in the plan. In this article an approach is introduced allowing the creation of more flexible schedules. It aims towards a more robust model that lowers the need to change more than a few information while being able to calculate the important propositions of the known models and leading to further valuable conclusions.