A Simple Project Process Model for Estimating and Controlling Cost and Schedule

This work presents a simple and useful project process model. The project model directly shows how a few basic parameters determine project duration and cost and how changes in these parameters can improve them. Project cost and duration can be traded-off by adjusting the work rate and staffing level. A project's duration and cost can be computed on the back of an envelope, with an engineering calculator, or in a computer spreadsheet. The project model can be simulated dynamically for further insight. The project model shows how and why projects can greatly exceed their expected duration and cost. Delays and rework requirements may create work feedback loops that increase cost and schedule in non-proportional and non-intuitive ways.