PREDICTION OF THE TOTAL COST AND MONITORING AND CONTROL OF OFFSHORE PIPEWORK PROJECT USING THE INTEGRATED MATHEMATICAL MATRLX METHOD

Traditionally the prediction of total project cost and schedule/time followed
different methods. The former was based on the schedule of quantities and labors and
the latter on quantity of work and productivity. The major deficiency of the methods
was that the calculations were independent. Changes in schedule were not reflected in
cost and vice versa, i.e. the methods were not integrated. Many researches have been
carried out on the integration of cost and schedule to provide consistency in the
evaluation of cost and schedule. Changes in schedule automatically reflected on the
cost of the project. The integration of cost and schedule requires project management
breakdown structure, project breakdown structure, agreed schedule and resources. The
models developed by Lee and Yi (1999) and Chen (2008) were robust but did not
include all the factors. The integrated technique has also not been applied to offshore
projects. The nature of offshore projects and difficulties in developing the project
breakdown structure were the main challenges.