MONITORING PROCEDURES FOR THE APPLICATION OF THE CONCEPT OF PRE-ALLOCATION OF TOTAL FLOAT

摘要

With the increasing complexity in construction projects, monitoring project schedule and managing projects effectively is becoming increasingly important. Most projects being deadline oriented, timely completion becomes a must. A schedule overrun is never predicted at the start of the project. As per the current scheduling practices, float is considered free. It is an expiring resource. To handle the issue of total float management more efficiently, a new concept of total float management is proposed as an effort towards a more fair and equitable system. This concept respects the dynamic nature of construction projects and recognizes float to be an asset for both parties. The new concept proposes to allocate float in the ratio 50:50 between the parties at the start of the project. Monitoring procedures were developed to facilitate monitoring a project schedule closely as well as help in keeping track of the allowable total float for the owner and the contractor.