Read the Post Graduation Adventure case on p. 154 in Ch. 5 of Project Management: The Managerial Process and submit an APA paper for the following Note: – As a

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154 154 Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts

Post Post Graduation Graduation AdventureAdventure JJosh osh and and Mike Mike met met each each other other as as rroommates oommates during during freshmen freshmen yyear ear at at MacAlisterMacAlister College College in in St. St. Paul, Paul, Minnesota. Minnesota. Despite Despite a a rrockocky y start start they they became became best best friendsfriends.. They They are are planning planning on on going going on on a a twtwo o week week adadventure venture totogether gether to to celebracelebrate te theirtheir graduagraduation tion in in JuneJune. . JJosh osh has has never never been been to to EurEurope ope and and wants wants to to visit visit FFrance rance oror Spain. Spain. MikMike e spent spent a a semester semester aabroad broad in in AarhusAarhus, , Denmark, Denmark, and and tratraveled veled extensivextensivelyely in in Northern Northern EurEuropeope. . Even Even though though he he nenever ver went went to to FFrance rance or or Spain, Spain, MikMike e wantswants to to go go to to some some place place more more eexotic xotic liklike e South South Africa Africa or or Vietnam. Vietnam. FFor or the the past past weekweek they they hahave ve been been arguing arguing back back and and fforth orth ovover er wherwhere e they they should should gogo. . JJosh osh argues argues thathatt it it will will cost cost too too much much to to flfly y to to South South Africa Africa or or Vietnam, Vietnam, wwhile hile Mike Mike counters counters thathatt it it will will be be much much cheacheaper per to to tratravel vel in in Vietnam Vietnam or or South South Africa Africa once once they they arare e therethere.. Each Each ofof them them agreed agreed thathat t they they can can spend spend no no more more than than $3,500 $3,500 each each on on the the triptrip and and could could be be gone gone ffor or only only twtwo o weeksweeks..

One One evening evening wwhen hen they they were were ararguing guing with with each each other other oover ver beers beers with with friendsfriends,, Sara Sara said, said, “W“Whhy y dondon’’t t you you use use wwhat hat yyou ou learned learned in in yyour our project project manamanagement gement classclass to to decide decide whawhat t to to do?”do?” J Josh osh and and MikMike e looked looked aat t each each other other and and agragreed eed that that mademade perfect perfect sensesense..

1. 1. Assume Assume yyou ou are are either either MikMike e or or JJosh; osh; how how wwould ould yyou ou go go aabout bout making making a a decisiondecision using using prproject oject management management methodolomethodology?gy?

CaseCase

stakstakeholders eholders to to check check the the estimates estimates and and to to brainstorm brainstorm ffor or alternatialternative ve solutions;solutions; the the cost cost and and time time estimaestimates tes appeared appeared to to be be rreasonaeasonableble. . Some Some ofof the the suggestionssuggestions ffor or the the brainstorming brainstorming session session are are listed listed belowbelow..

•• Change Change scopescope.. •• Outsource Outsource technolotechnology gy design.design. •• Use Use the the priority priority mamatrix trix (found (found in in ChaChapter pter 4) 4) to to get get top top management management to to clarifyclarify

their their prioritiespriorities.. •• Partner Partner with with another another organizaorganization tion or or build build a a researresearch ch consortium consortium to to shareshare

costs costs and and to to share share the the nenewly wly devdeveloped eloped technology technology and and prproduction oduction methodsmethods.. •• Cancel Cancel the the prproject.oject. • • Commission Commission a a break-ebreak-even ven study study ffor or the the laser laser printerprinter..

VVery ery little little in in the the waway y ofof concrete concrete sasavings vings was was identified, identified, although although therthere e waswas consensus consensus thathat t time time could could be be compressed compressed to to the the markmarket et launch launch dadatete, , but but aatt additional additional costscosts..

Lauren Lauren met met with with the the markmarketing eting (Connor), (Connor), prproduction oduction (Kim), (Kim), and and design design (Gage)(Gage) managers managers wwho ho yielded yielded some some ideas ideas ffor or cutting cutting costscosts, , but but nothing nothing significant significant enoughenough to to hahave ve a a large large impact. impact. GaGage ge remarkremarked, ed, “I “I wouldnwouldn’’t t want want to to be be the the one one to to delivdeliverer the the message message to to top top manamanagement gement thathat t their their cost cost estimate estimate is is $1,250,000 $1,250,000 ofofff! ! GoodGood luck, luck, Lauren.”Lauren.”

1. 1. At At this this point, point, whawhat t would would yyou ou do do ifif y you ou were were the the prproject oject manager?manager? 2. 2. WWas as top top management management acting acting corrcorrectly ectly in in devdeveloping eloping an an estimate?estimate? 3. 3. WhaWhat t estimaestimating ting techniques techniques should should be be used used for for a a mission mission critical critical prproject oject suchsuch

asthis?asthis?

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Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts 155155

Appendix Appendix 5.15.1

Learning Learning Curves Curves for for EstimatingEstimating A A fforecast orecast estimaestimate te ofof the the time time requirrequired ed to to perform perform a a wwork ork package package or or task task is is aa basic basic necessity necessity ffor or scheduling scheduling the the prproject. oject. In In some some casescases, , the the manager manager simplsimply y usesuses judgment judgment and and past past experience experience to to estimaestimate te wwork ork package package timetime, , or or mamay y use use histori-histori- cal cal recorrecords ds ofof similar similar taskstasks..

Most Most manamanagers gers and and worworkers kers intuitiintuitively vely knoknow w thathat t improimprovement vement in in thethe amount amount ofof time time required required to to perfperfororm m a a task task or or grgroup oup ofof tasks tasks occurs occurs with with repe-repe- tition. tition. A A wworkorker er can can perfperfororm m a a task task better/quicker better/quicker the the second second time time and and eacheach succeeding succeeding time time she/he she/he perfperfororms ms it it (without (without anany y technological technological change). change). It It is is thisthis papattern ttern ofof impr improvovement ement that that is is important important to to the the prproject oject manager manager and and prprojectoject schedulerscheduler..

This This imprimprovovement ement from from rrepetition epetition generally generally rresults esults in in a a reduction reduction ofof la laborbor hours hours ffor or the the accomplishment accomplishment ofof tasks tasks and and results results in in lolower wer prproject oject costscosts. . FFromrom empirical empirical evidence evidence acracross oss allall industries industries, , the the pattern pattern ofof this this improimprovement vement has has beenbeen quantified quantified in in the the learning learning curvcurvee (also (also known known as as imprimprovovement ement curvecurve, , experienceexperience curvecurve, , and and industrial industrial prprogress ogress curvcurve), e), which which is is described described by by the the ffollowingollowing relarelationship:tionship:

Each Each time time the the output output quantity quantity doubdoublesles, , the the unit unit labor labor hours hours arare e reduced reduced at at a a constant constant rrate.ate.

FFor or exampleexample, , assume assume that that a a manmanufacturer ufacturer has has a a new new contrcontract act for for 16 16 prprototype ototype unitsunits and and a a total total ofof 800 800 labor labor hours hours wwere ere requirrequired ed for for the the first first unit. unit. PPast ast experience experience hashas indicaindicated ted that that on on similar similar types types ofof units units the the improimprovement vement rarate te was was 80 80 percent. percent. ThisThis relarelationship tionship ofof impr improovement vement in in lalabor bor hours hours is is shown shown belobelow:w:

Unit Unit Labor Labor HoursHours

1 1 800800 2 2 800 800 33 5 5 .80 .80 640640 4 4 640 640 33 5 5 .80 .80 512512 8 8 512 512 33 5 5 .80 .80 410410 16 16 410 410 33 5 5 .80 .80 328328

By By using using TTabable le A5.1 A5.1 unit unit valuesvalues, , similar similar lalabor bor hours hours per per unit unit can can be be deterdetermined.mined. Looking Looking acracross oss the the 16 16 unit unit level level and and dodown wn the the 80 80 percent percent column, column, we we find find a a rratio atio ofof .4096. .4096. By By multiplmultiplying ying this this raratio tio times times the the lalabor bor hours hours for for the the first first unit, unit, wwe e obtainedobtained the the per per unit unit value:value:

.4096 .4096 800 800 328 328 hours hours or or 327.68327.6833 55

ThaThat t isis, , the the 16th 16th unit unit should should require require close close to to 328 328 lalabor bor hourshours, , assuming assuming an an 80 80 per-per- cent cent imprimprovovement ement ratioratio..

2. 2. Looking Looking first first at at onlonly y cost, cost, whawhat t decision decision would would yyou ou makmake?e? 3. 3. After After cost, cost, whawhat t other other factors factors should should be be considered considered befbefore ore making making a a decision?decision?

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TTABLE ABLE A5.1A5.1 Learning Learning CurvesCurves Unit Unit VValuesalues

Units Units 60% 60% 65% 65% 70% 70% 75% 75% 80% 80% 85% 85% 90% 90% 95% 95%

1 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 2 2 .6000 .6000 .6500 .6500 .7000 .7000 .7500 .7500 .8000 .8000 .8500 .8500 .9000 .9000 .9500 .9500 3 3 .4450 .4450 .5052 .5052 .5682 .5682 .6338 .6338 .7021 .7021 .7729 .7729 .8462 .8462 .9219 .9219 4 4 .3600 .3600 .4225 .4225 .4900 .4900 .5625 .5625 .6400 .6400 .7225 .7225 .8100 .8100 .9025 .9025 5 5 .3054 .3054 .3678 .3678 .4368 .4368 .5127 .5127 .5956 .5956 .6857 .6857 .7830 .7830 .8877 .8877 6 6 .2670 .2670 .3284 .3284 .3977 .3977 .4754 .4754 .5617 .5617 .6570 .6570 .7616 .7616 .8758 .8758 7 7 .2383 .2383 .2984 .2984 .3674 .3674 .4459 .4459 .5345 .5345 .6337 .6337 .7439 .7439 .8659 .8659 8 8 .2160 .2160 .2746 .2746 .3430 .3430 .4219 .4219 .5120 .5120 .6141 .6141 .7290 .7290 .8574 .8574 9 9 .1980 .1980 .2552 .2552 .3228 .3228 .4017 .4017 .4930 .4930 .5974 .5974 .7161 .7161 .8499 .8499

10 10 .1832 .1832 .2391 .2391 .3058 .3058 .3846 .3846 .4765 .4765 .5828 .5828 .7047 .7047 .8433 .8433 12 12 .1602 .1602 .2135 .2135 .2784 .2784 .3565 .3565 .4493 .4493 .5584 .5584 .6854 .6854 .8320 .8320 14 14 .1430 .1430 .1940 .1940 .2572 .2572 .3344 .3344 .4276 .4276 .5386 .5386 .6696 .6696 .8226 .8226 16 16 .1296 .1296 .1785 .1785 .2401 .2401 .3164 .3164 .4096 .4096 .5220 .5220 .6561 .6561 .8145 .8145 18 18 .1188 .1188 .1659 .1659 .2260 .2260 .3013 .3013 .3944 .3944 .5078 .5078 .6445 .6445 .8074 .8074 20 20 .1099 .1099 .1554 .1554 .2141 .2141 .2884 .2884 .3812 .3812 .4954 .4954 .6342 .6342 .8012 .8012 22 22 .1025 .1025 .1465 .1465 .2038 .2038 .2772 .2772 .3697 .3697 .4844 .4844 .6251 .6251 .7955 .7955 24 24 .0961 .0961 .1387 .1387 .1949 .1949 .2674 .2674 .3595 .3595 .4747 .4747 .6169 .6169 .7904 .7904 25 25 .0933 .0933 .1353 .1353 .1908 .1908 .2629 .2629 .3548 .3548 .4701 .4701 .6131 .6131 .7880 .7880 30 30 .0815 .0815 .1208 .1208 .1737 .1737 .2437 .2437 .3346 .3346 .4505 .4505 .5963 .5963 .7775 .7775 35 35 .0728 .0728 .1097 .1097 .1605 .1605 .2286 .2286 .3184 .3184 .4345 .4345 .5825 .5825 .7687 .7687 40 40 .0660 .0660 .1010 .1010 .1498 .1498 .2163 .2163 .3050 .3050 .4211 .4211 .5708 .5708 .7611 .7611 45 45 .0605 .0605 .0939 .0939 .1410 .1410 .2060 .2060 .2936 .2936 .4096 .4096 .5607 .5607 .7545 .7545 50 50 .0560 .0560 .0879 .0879 .1336 .1336 .1972 .1972 .2838 .2838 .3996 .3996 .5518 .5518 .7486 .7486 60 60 .0489 .0489 .0785 .0785 .1216 .1216 .1828 .1828 .2676 .2676 .3829 .3829 .5367 .5367 .7386 .7386 70 70 .0437 .0437 .0713 .0713 .1123 .1123 .1715 .1715 .2547 .2547 .3693 .3693 .5243 .5243 .7302 .7302 80 80 .0396 .0396 .0657 .0657 .1049 .1049 .1622 .1622 .2440 .2440 .3579 .3579 .5137 .5137 .7231 .7231 90 90 .0363 .0363 .0610 .0610 .0987 .0987 .1545 .1545 .2349 .2349 .3482 .3482 .5046 .5046 .7168 .7168

100 100 .0336 .0336 .0572 .0572 .0935 .0935 .1479 .1479 .2271 .2271 .3397 .3397 .4966 .4966 .7112 .7112 120 120 .0294 .0294 .0510 .0510 .0851 .0851 .1371 .1371 .2141 .2141 .3255 .3255 .4830 .4830 .7017 .7017 140 140 .0262 .0262 .0464 .0464 .0786 .0786 .1287 .1287 .2038 .2038 .3139 .3139 .4718 .4718 .6937 .6937 160 160 .0237 .0237 .0427 .0427 .0734 .0734 .1217 .1217 .1952 .1952 .3042 .3042 .4623 .4623 .6869 .6869 180 180 .0218 .0218 .0397 .0397 .0691 .0691 .1159 .1159 .1879 .1879 .2959 .2959 .4541 .4541 .6809 .6809 200 200 .0201 .0201 .0371 .0371 .0655 .0655 .1109 .1109 .1816 .1816 .2887 .2887 .4469 .4469 .6757 .6757 250 250 .0171 .0171 .0323 .0323 .0584 .0584 .1011 .1011 .1691 .1691 .2740 .2740 .4320 .4320 .6646 .6646 300 300 .0149 .0149 .0289 .0289 .0531 .0531 .0937 .0937 .1594 .1594 .2625 .2625 .4202 .4202 .5557 .5557 350 350 .0133 .0133 .0262 .0262 .0491 .0491 .0879 .0879 .1517 .1517 .2532 .2532 .4105 .4105 .6482 .6482 400 400 .0121 .0121 .0241 .0241 .0458 .0458 .0832 .0832 .1453 .1453 .2454 .2454 .4022 .4022 .6419 .6419 450 450 .0111 .0111 .0224 .0224 .0431 .0431 .0792 .0792 .1399 .1399 .2387 .2387 .3951 .3951 .6363 .6363 500 500 .0103 .0103 .0210 .0210 .0408 .0408 .0758 .0758 .1352 .1352 .2329 .2329 .3888 .3888 .6314 .6314 600 600 .0090 .0090 .0188 .0188 .0372 .0372 .0703 .0703 .1275 .1275 .2232 .2232 .3782 .3782 .6229 .6229 700 700 .0080 .0080 .0171 .0171 .0344 .0344 .0659 .0659 .1214 .1214 .2152 .2152 .3694 .3694 .6158 .6158 800 800 .0073 .0073 .0157 .0157 .0321 .0321 .0624 .0624 .1163 .1163 .2086 .2086 .3620 .3620 .6098 .6098 900 900 .0067 .0067 .0146 .0146 .0302 .0302 .0594 .0594 .1119 .1119 .2029 .2029 .3556 .3556 .6045 .6045

1,000 1,000 .0062 .0062 .0137 .0137 .0286 .0286 .0569 .0569 .1082 .1082 .1980 .1980 .3499 .3499 .5998 .5998 1,200 1,200 .0054 .0054 .0122 .0122 .0260 .0260 .0527 .0527 .1020 .1020 .1897 .1897 .3404 .3404 .5918 .5918 1,400 1,400 .0048 .0048 .0111 .0111 .0240 .0240 .0495 .0495 .0971 .0971 .1830 .1830 .3325 .3325 .5850 .5850 1,600 1,600 .0044 .0044 .0102 .0102 .0225 .0225 .0468 .0468 .0930 .0930 .1773 .1773 .3258 .3258 .5793 .5793 1,800 1,800 .0040 .0040 .0095 .0095 .0211 .0211 .0446 .0446 .0895 .0895 .1725 .1725 .3200 .3200 .5743 .5743 2,000 2,000 .0037 .0037 .0089 .0089 .0200 .0200 .0427 .0427 .0866 .0866 .1683 .1683 .3149 .3149 .5698 .5698 2,500 2,500 .0031 .0031 .0077 .0077 .0178 .0178 .0389 .0389 .0606 .0606 .1597 .1597 .3044 .3044 .5605 .5605 3,000 3,000 .0027 .0027 .0069 .0069 .0162 .0162 .0360 .0360 .0760 .0760 .1530 .1530 .2961 .2961 .5530 .5530

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Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts 157157

ObviouslObviouslyy, , a a prproject oject manager manager mamay y need need more more than than a a single single unit unit vvalue alue fforor estimaestimating ting the the time time for for some some wwork ork packagespackages. . The The cumulacumulative tive vvalues alues inin TTaablebleA5.2 A5.2 proprovide vide factors factors for for computing computing the the cumcumulaulative tive total total lalabor bor hours hours ofof all all unitsunits. . In In the the previous previous eexamplexample, , ffor or the the first first 16 16 unitsunits, , the the total total lalabor bor hourshours requirrequired ed would would bebe

800 800 8.920 8.920 7,136 7,136 hourshours33 55

By By dividing dividing the the total total cumcumulatiulative ve hours hours (7,136) (7,136) by by the the unitsunits, , the the aaverage verage unit unit lalaborbor hours hours can can be be obtained:obtained:

7,136 7,136 lalabor bor hours/16 hours/16 units units 446 446 aaveraverage ge lalabor bor hours hours per per unitunit55

Note Note hohow w the the labor labor hours hours ffor or the the 16th 16th unit unit (328) (328) differs differs frfrom om the the aaveraverage ge ffor or allall 16 16 units units (446). (446). The The prproject oject managermanager, , knowing knowing the the aaveraverage ge lalabor bor costs costs andand

prprocessing ocessing costscosts, , could could estimate estimate the the total total prprototype ototype costscosts. . (The (The mathemamathematicaltical derivderivation ation ofof factors factors ffound ound in in TTaables bles A5.1 A5.1 and and A5.2 A5.2 can can be be ffound ound in in JJelen, elen, FF. . CC.,., and and JJ. . H. H. Black, Black, 2nd 2nd ed. ed. (Ne(New w YYork:ork:Cost Cost and and Optimization Optimization Engineering,Engineering, McGraMcGraw-Hill, w-Hill, 1983.)1983.)

FOLLOWFOLLOW-ON -ON CONTRACT CONTRACT EXAMPLEEXAMPLE Assume Assume the the prproject oject manager manager gets gets a a ffollow-on ollow-on order order ofof 74 74 units; units; hohow w should should sheshe estimaestimate te lalabor bor hours hours and and cost? cost? Going Going to to the the cumulacumulative tive TTaable ble A5.2 A5.2 we we find find aat t thethe 80 80 percent percent raratio tio and and 90 90 total total units units intersection—a intersection—a 30.35 30.35 ratioratio..

800 800 33 5 5 30.35 30.35 24,280 24,280 labor labor hours hours for for 90 90 unitsunits Less Less previous previous 16 16 units units 5 5 7,136 7,136 TTotal otal follow-on follow-on order order 5 5 17,144 17,144 labor labor hourshours 17,144/74 17,144/74 equals equals 232 232 average average labor labor hours hours per per unitunit

LaLabor bor hours hours ffor or the the 90th 90th unit unit can can be be obtained obtained from from TTaable ble A5.1: A5.1: .2349 .2349 800 800 33 55 187.9 187.9 lalabor bor hourshours. . (F(For or raratios tios between between givgiven en valuesvalues, , simply simply estimaestimatete.).)

Exercise Exercise A5.1A5.1 Norwegian Norwegian Satellite Satellite DeDevelopment velopment CompanCompanyy

Cost Cost EstimatesEstimates forfor

WWorld orld Satellite Satellite TTelephone elephone Exchange Exchange PrProjectoject

NSDC NSDC has has a a contract contract to to prproduce oduce eight eight satellites satellites to to support support a a wworldorldwide wide telephonetelephone system system (f(for or Alaska Alaska TTelecom, elecom, Inc.) Inc.) thathat t allows allows individuals individuals to to use use a a singlesingle, , portaportableble telephone telephone in in anany y location location on on earth earth to to call call in in and and out. out. NSDC NSDC will will dedevelop velop andand prproduce oduce the the eight eight unitsunits. . NSDC NSDC has has estimated estimated thathat t the the R&D R&D costs costs will will be be NOKNOK (Norwegian (Norwegian KrKrone) one) 12,000,000. 12,000,000. Material Material costs costs are are eexpected xpected to to be be NOKNOK 6,000,000. 6,000,000. They They hahave ve estimated estimated the the design design and and prproduction oduction ofof the the first first sasatellitetellite will will requirrequire e 100,000 100,000 labor labor hours hours and and an an 80 80 perpercent cent improimprovement vement curve curve isis

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TTABLE ABLE A5.2A5.2 Learning Learning CurvesCurves CumulativCumulative e VValuesalues

Units Units 60% 60% 65% 65% 70% 70% 75% 75% 80% 80% 85% 85% 90% 90% 95% 95%

1 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2 2 1.600 1.600 1.650 1.650 1.700 1.700 1.750 1.750 1.800 1.800 1.850 1.850 1.900 1.900 1.950 1.950 3 3 2.045 2.045 2.155 2.155 2.268 2.268 2.384 2.384 2.502 2.502 2.623 2.623 2.746 2.746 2.872 2.872 4 4 2.405 2.405 2.578 2.578 2.758 2.758 2.946 2.946 3.142 3.142 3.345 3.345 3.556 3.556 3.774 3.774 5 5 2.710 2.710 2.946 2.946 3.195 3.195 3.459 3.459 3.738 3.738 4.031 4.031 4.339 4.339 4.662 4.662 6 6 2.977 2.977 3.274 3.274 3.593 3.593 3.934 3.934 4.299 4.299 4.688 4.688 5.101 5.101 5.538 5.538 7 7 3.216 3.216 3.572 3.572 3.960 3.960 4.380 4.380 4.834 4.834 5.322 5.322 5.845 5.845 6.404 6.404 8 8 3.432 3.432 3.847 3.847 4.303 4.303 4.802 4.802 5.346 5.346 5.936 5.936 6.574 6.574 7.261 7.261 9 9 3.630 3.630 4.102 4.102 4.626 4.626 5.204 5.204 5.839 5.839 6.533 6.533 7.290 7.290 8.111 8.111

10 10 3.813 3.813 4.341 4.341 4.931 4.931 5.589 5.589 6.315 6.315 7.116 7.116 7.994 7.994 8.955 8.955 12 12 4.144 4.144 4.780 4.780 5.501 5.501 6.315 6.315 7.227 7.227 8.244 8.244 9.374 9.374 10.62 10.62 14 14 4.438 4.438 5.177 5.177 6.026 6.026 6.994 6.994 8.092 8.092 9.331 9.331 10.72 10.72 12.27 12.27 16 16 4.704 4.704 5.541 5.541 6.514 6.514 7.635 7.635 8.920 8.920 10.38 10.38 12.04 12.04 13.91 13.91 18 18 4.946 4.946 5.879 5.879 6.972 6.972 8.245 8.245 9.716 9.716 11.41 11.41 13.33 13.33 15.52 15.52 20 20 5.171 5.171 6.195 6.195 7.407 7.407 8.828 8.828 10.48 10.48 12.40 12.40 14.64 14.64 17.13 17.13 22 22 5.379 5.379 6.492 6.492 7.819 7.819 9.388 9.388 11.23 11.23 13.38 13.38 15.86 15.86 18.72 18.72 24 24 5.574 5.574 6.773 6.773 8.213 8.213 9.928 9.928 11.95 11.95 14.33 14.33 17.10 17.10 20.31 20.31 25 25 5.668 5.668 6.909 6.909 8.404 8.404 10.19 10.19 12.31 12.31 14.80 14.80 17.71 17.71 21.10 21.10 30 30 6.097 6.097 7.540 7.540 9.305 9.305 11.45 11.45 14.02 14.02 17.09 17.09 20.73 20.73 25.00 25.00 35 35 6.478 6.478 8.109 8.109 10.13 10.13 12.72 12.72 15.64 15.64 19.29 19.29 23.67 23.67 28.86 28.86 40 40 6.821 6.821 8.631 8.631 10.90 10.90 13.72 13.72 17.19 17.19 21.43 21.43 26.54 26.54 32.68 32.68 45 45 7.134 7.134 9.114 9.114 11.62 11.62 14.77 14.77 18.68 18.68 23.50 23.50 29.37 29.37 36.47 36.47 50 50 7.422 7.422 9.565 9.565 12.31 12.31 15.78 15.78 20.12 20.12 25.51 25.51 32.14 32.14 40.22 40.22 60 60 7.941 7.941 10.39 10.39 13.57 13.57 17.67 17.67 22.87 22.87 29.41 29.41 37.57 37.57 47.65 47.65 70 70 8.401 8.401 11.13 11.13 14.74 14.74 19.43 19.43 25.47 25.47 33.17 33.17 42.87 42.87 54.99 54.99 80 80 8.814 8.814 11.82 11.82 15.82 15.82 21.09 21.09 27.96 27.96 36.80 36.80 48.05 48.05 62.25 62.25 90 90 9.191 9.191 12.45 12.45 16.83 16.83 22.67 22.67 30.35 30.35 40.32 40.32 53.14 53.14 69.45 69.45

100 100 9.539 9.539 13.03 13.03 17.79 17.79 24.18 24.18 32.65 32.65 43.75 43.75 58.14 58.14 76.59 76.59 120 120 10.16 10.16 14.16 14.16 19.57 19.57 27.02 27.02 37.05 37.05 50.39 50.39 67.93 67.93 90.71 90.71 140 140 10.72 10.72 15.08 15.08 21.20 21.20 29.67 29.67 41.22 41.22 56.78 56.78 77.46 77.46 104.7 104.7 160 160 11.21 11.21 15.97 15.97 22.72 22.72 32.17 32.17 45.20 45.20 62.95 62.95 86.80 86.80 118.5 118.5 180 180 11.67 11.67 16.79 16.79 24.14 24.14 34.54 34.54 49.03 49.03 68.95 68.95 95.96 95.96 132.1 132.1 200 200 12.09 12.09 17.55 17.55 25.48 25.48 36.80 36.80 52.72 52.72 74.79 74.79 105.0 105.0 145.7 145.7 250 250 13.01 13.01 19.28 19.28 28.56 28.56 42.08 42.08 61.47 61.47 88.83 88.83 126.9 126.9 179.2 179.2 300 300 13.81 13.81 20.81 20.81 31.34 31.34 46.94 46.94 69.66 69.66 102.2 102.2 148.2 148.2 212.2 212.2 350 350 14.51 14.51 22.18 22.18 33.89 33.89 51.48 51.48 77.43 77.43 115.1 115.1 169.0 169.0 244.8 244.8 400 400 15.14 15.14 23.44 23.44 36.26 36.26 55.75 55.75 84.85 84.85 127.6 127.6 189.3 189.3 277.0 277.0 450 450 15.72 15.72 24.60 24.60 38.48 38.48 59.80 59.80 91.97 91.97 139.7 139.7 209.2 209.2 309.0 309.0 500 500 16.26 16.26 25.68 25.68 40.58 40.58 63.68 63.68 98.85 98.85 151.5 151.5 228.8 228.8 340.6 340.6 600 600 17.21 17.21 27.67 27.67 44.47 44.47 70.97 70.97 112.0 112.0 174.2 174.2 267.1 267.1 403.3 403.3 700 700 18.06 18.06 29.45 29.45 48.04 48.04 77.77 77.77 124.4 124.4 196.1 196.1 304 304.5 .5 465.3 465.3 800 800 18.82 18.82 31.09 31.09 51.36 51.36 84.18 84.18 136.3 136.3 217.3 217.3 341.0 341.0 526.5 526.5 900 900 19.51 19.51 32.60 32.60 54.46 54.46 90.26 90.26 147.7 147.7 237.9 237.9 376.9 376.9 587.2 587.2

1,000 1,000 20.15 20.15 34.01 34.01 57.40 57.40 96.07 96.07 158.7 158.7 257.9 257.9 412.2 412.2 647.4 647.4 1,200 1,200 21.30 21.30 36.59 36.59 62.85 62.85 107.0 107.0 179.7 179.7 296.6 296.6 481.2 481.2 766.6 766.6 1,400 1,400 22.32 22.32 38.92 38.92 67.85 67.85 117.2 117.2 199.6 199.6 333.9 333.9 548.4 548.4 884.2 884.2 1,600 1,600 23.23 23.23 41.04 41.04 72.49 72.49 126.8 126.8 218.6 218.6 369.9 369.9 614.2 614.2 1001. 1001. 1,800 1,800 24.06 24.06 43.00 43.00 76.85 76.85 135.9 135.9 236.8 236.8 404.9 404.9 678.8 678.8 1116. 1116. 2,000 2,000 24.83 24.83 44.84 44.84 80.96 80.96 144.7 144.7 254.4 254.4 438.9 438.9 742.3 742.3 1230. 1230. 2,500 2,500 26.53 26.53 48.97 48.97 90.39 90.39 165.0 165.0 296.1 296.1 520.8 520.8 897.0 897.0 1513. 1513. 3,000 3,000 27.99 27.99 52.62 52.62 98.90 98.90 183.7 183.7 335.2 335.2 598.9 598.9 1047. 1047. 1791. 1791.

1184431 – McGraw-Hill Higher Education (US) ©

Chapter Chapter 5 5 Estimating Estimating Project Project Times Times and and CostsCosts 159159

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