Cost Control Simulation and Decision Makingby John D. Borcherding, (M.ASCE), Asst. Prof. of Architectural and Civ. Engrg.; The Univ. of Texas, Austin, Tex.,
Serial Information: Journal of the Construction Division, 1977, Vol. 103, Issue 4, Pg. 577-591
Document Type: Journal Paper
Abstract: 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.
Subject Headings: Computer models | Construction sites | Computer analysis | Computer software | Decision making | Construction costs | Model analysis
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