dc.description.abstract | “Time is money” this is actually true in construction projects. Due to many parties inherently engaged in and affected by many external factors, delay frequently occurs and truly assessing the impact of delay is commonly a hard job. Hence, many delay analysis techniques have been proposed and used for analyzing schedule delay problems, i.e., real time delay, concurrent delay, pacing delay, acceleration schedule, float ownership and its consumption, resource allocation and productivity loss. However, no universal technique can solve all complex project situations which is accepted by project participants because of the inability of previous approaches to address probably all the aforementioned delay issues. Only Total Float Management (TFM) technique is definitely capable of dealing with formerly identified four major delay problems and measuring total float consumption but the relative cost of float consumption is not plausibly considered. To undoubtedly address one more delay issue, this study is to develop an integrated time and cost approach based on TFM approach that can be used to analyze schedule delays and to prepare delay claims by quantifying delay costs. Accordingly, the proposed approach can calculate float consuming cost and delay costs for project parties. The methodology adopted in the research follows several basic steps. Firstly, this study executes an intensive literature review. Secondly, to identify the ideal delay analysis technique - TFM, and the limitations of the approach have been implemented by a case study simulation. Thirdly, to propose framework components calculates acceleration/escalation, overhead, impact cost, float consumption cost and liquidated damages. Finally, two test cases examine the research outcomes. Study results are helpful since the contract parties may obtain a credibly transparent outcome to certainly allocate and apportion delay damages in terms of time and cost. Future research might develop the comprehensive approach into professional project management software to prepare and assess delay analysis in a consistent and reliable manner, thereby saving time and cost associated with delay claims preparation. | en_US |