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Development of a Damage Model for Assessing Financial Impacts of Delay in Construction Projects
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Saied Yousefi   , Farbod Mortazavi |
| University of Tehran , farbod_mortazavi@yahoo.com |
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Abstract: (1707 Views) |
| If the parties can have the quantity of all the direct and indirect extra costs _caused by the delays_ they may gain a better perspective to have more reliable time management plan and prevent the probable future financial damages. The goal of this research is to figure out the negative effects of delays, both direct and indirect aspects. After determining these aspects and their effects, by considering the contract type and project delivery system, delays can be analyzed by the method of daily windows and under multiple baseline updates. Hence, the financial damages, which are the outputs of this model, can be allocated to the different parties (e.g. client and contractor). On the other hand, this model can calculate the damages based on the comparison of scheduled and hypothetic scenario. According to this analysis, both parties will pre-actively know the financial consequences of delays even before the sign of the contract and in the bid phase (after the completion of design). Therefore, they will schedule project tasks more carefully to minimize the damage. This financial model can lead the contract to have a more fair penalties for delays in it and in this way, future claims can be minimized. |
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| Keywords: Delay damages, Financial Model, Contract, Project Claim Management, Daily Windows Method |
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Full-Text [PDF 1996 kb]
(382 Downloads)
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Type of Study: Research |
Subject:
مدیریت پروژه و روش اجرا
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