Research Article
Dec 1977
Cost Control Simulation and Decision Making
Publication: Journal of the Construction Division
Volume 103, Issue 4
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.
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Information
Published In
Journal of the Construction Division
Volume 103 • Issue 4 • December 1977
Pages: 577 - 591
Copyright
© 1977 American Society of Civil Engineers.
History
Published in print: Dec 1977
Published online: Feb 11, 2021
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Authors
Affiliations
John D. Borcherding, M.ASCE
Asst. Prof. of Architectural and Civ. Engrg., The Univ. of Texas, Austin, Tex.
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ASCE Library Cards let you download journal articles, proceedings papers, and available book chapters across the entire ASCE Library platform. ASCE Library Cards remain active for 24 months or until all downloads are used. Note: This content will be debited as one download at time of checkout.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.
Terms of Use: ASCE Library Cards are for individual, personal use only. Reselling, republishing, or forwarding the materials to libraries or reading rooms is prohibited.