Abstract
Data on the progress of about a hundred construction projects were provided by Heathrow Airport. Most projects have many adjustments in their scope which impact the cost and schedule. Can an optimised scheduling of the project lead to decreased costs and more rapid completion? To answer this, both a data-centric approach and a complementary mathematical model were developed to better understand the effect of resource constraints on cost and price extension due to resource competition of concurrent projects. The model takes the form of a discrete time stochastic simulation, whose parameters are t to the existing data. While more data is needed to validate the model, the results suggested that gains can be made if more thoughtful scheduling of projects is implemented, and also if the prioritisation of projects is monitored and adjusted intelligently, in particular by prioritising completion of smaller projects.
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