COST CONTROL SIMULATION AND DECISION MAKING

The objective of the Cost Control Simulation (CCS) Program was to develop a computer model to analyze the financial aspects of a construction project. In order to teach the type of decision making necessary to manage a construction project, the CCS computer program simulates conditions of uncertainty on a construction site. To relate the CCS model to the real life situation, the project is initially reduced to a detailed estimate and schedule. The resources of the student manager are now entries on computer cards and the results become computer output. Using this model, decisions are made with an excess of information in minute detail. In the computer simulation a random number causes a deviation from the initial estimated cost. Sometimes the deviation is beneficial and sometimes it is harmful. The strategy of the user is to make subsequent changes per each reporting period that make the project more profitable. /Author/

• Supplemental Notes:
  • This report was presented at the ASCE Spring Convention Exhibit and Continuing Education Courses, held at Dallas, Texas, April 25-29, 1977.
• Corporate Authors:

  American Society of Civil Engineers

  345 East 47th Street
  New York, NY  United States  10017-2398
• Authors:
  • Borcherding, J D
• Publication Date: 1977-12

Media Info

• Features: Appendices; Figures; References; Tables;
• Pagination: p. 577-591
• Serial:
  • Journal of the Construction Division
  • Volume: 103
  • Issue Number: CO4

Subject/Index Terms

• TRT Terms: Analysis; Computer programs; Construction management; Costs; Decision making; Uncertainty
• Uncontrolled Terms: Cost analysis
• Old TRIS Terms: Random inputs; Sills
• Subject Areas: Construction; Finance; Highways;

Filing Info

• Accession Number: 00172403
• Record Type: Publication
• Report/Paper Numbers: ASCE 13428 Proceeding
• Files: TRIS
• Created Date: Apr 12 1978 12:00AM