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| Author: | Wang, C.-H. Huang, Y.-C. |
| Title: | A new approach to calculating project cost variance |
| Journal: | International Journal of Project Management
2000 : APR, VOL. 18:2, p. 131-138 |
| Index terms: | PROJECT MANAGEMENT COST VARIANCE TIME |
| Language: | eng |
| Abstract: | A new approach to calculating project cost variance is presented in this paper. The computation of project cost variance usually begins with the cost breakdown structure and uses the simulation method to estimate the variance of a project cost. However, the decomposition of the activities of a project is based on the work breakdown structure, not on the cost breakdown structure. To overcome this limitation, this paper assumes the time and cost of a project to be random and correlative and thereby constructs a computation approach to integrating the time and cost. |
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