Scheduling as Part of the Project Management Effort - Construction Project Scheduling and Control - page 271

Table 10.1 Project Success Measuring Model

Criteria Weight Score (out of 10) Weighted Score

Cost 35 8 28

Schedule 25 10 25

Safety 8 9 7 . 2

Environmentally friendly / Sustainable 4 7 2 . 8

Change orders 8 6 4 . 8

Claim disputes 7 8 5 . 6

Relationship with other parties 5 8 4

Public image 3 9 2 . 7

Satisfied employees/workers 5 8 4

Total 100% 84 . 10 %

Table 10.2a Table 10.2b

Cost Schedule

Outcome Grade Outcome Grade

Finished on or under budget 10 Finished on or ahead of schedule 10

Cost overrun < 1% of budget 9 Finished late 1-3 days 9

Cost overrun 1-2% of budget 8 Finished late 4-6 days 8

Cost overrun 2-3% of budget 7 Finished late 7-9 days 7

Cost overrun 3-4% of budget 6 Finished late 10-12 days 6

Cost overrun 4-5% of budget 5 Finished late 13-15 days 5

Cost overrun 5-6% of budget 4 Finished late 15-17 days 4

Cost overrun 6-7% of budget 3 Finished late 18-20 days 3

Cost overrun 7-8% of budget 2 Finished late 21-23 days 2

Cost overrun 8-9% of budget 1 Finished late 24-26 days 1

Cost overrun > 9% of budget 0 Finished late > 26 days 0

Keep in mind that the model shown is an attempt to measure project success as
objectively as possible. It is not necessarily unique, and it may not always reflect the
degree of success realized by all parties.

SCHEDULING AND ESTIMATING
Scheduling and estimating are closely related, and their relationship is probably one of
the most important relationships in project management. They both make predictions
on future consumption: money for estimating and time for scheduling. They are both