Project schedule plays an important role in the success of a project. It provides the essential means to plan and control the works. The project schedule should identify the priorities and most efficient way to accomplish a work. The schedule should be simple to follow and modified regularly to show the changing project scenario.
Construction projects are complex in nature therefore the project manager should have full understanding of the planning and scheduling techniques used on construction projects. The project schedule will be of particular importance for different parties regarding:
1- Determining the contractor’s estimate – Calculation of time and cost of general items/preliminaries (on–site overheads and head office costs) and the time required for alternative construction methods.
2- Preparing and monitoring a cash flow forecast for the employer or the contractor.
3- Monitoring and controlling the contractor’s progress of the work.
4- Estimating the money required for interim payments including preliminaries or general items.
5- Deciding the extension of time and the associated cost to be approved in case of delays and variations.
Reference:
Major Construction Works: Contractural and Financial Management
by Keith Potts and Brendan Patchell
