Application of Mathematical Matrix to Integrate Project Schedule and Cost

Abstract

This research is a numerical approach to the integration of the time and cost data sets for construction projects, which addresses the conflicts between them. Mathematical matrices are introduced to show the interrelationships between the time and cost data sets and their effect on each other, and to solve the conflict due to the differences between work breakdown structure and cost breakdown structure. Several matrices of time and cost data sets of construction projects are defined. The interrelationships among the matrices are investigated and several time- and cost-related matrix equations are presented. Based on the equations, this research develops a project planning and control algorithm that estimates the expected project cost and duration and evaluates the project economy using the matrix equations derived here. The matrix application is implemented through a spreadsheet program in which the matrices are automatically connected with each other. A case study involving a housing project is performed to verify the capability and utility of this computerized matrix application in integrating project time and cost.