Christian Hofstadler - Calculation of Construction Costs For Building Projects - Application of The Monte Carlo Method

CASE STUDY
Analysis of Situation Objective
Calculation Mode 1: Deterministic Approach
Calculation Mode 3: Monte Carlo Method
Application: High-Rise Building
Conclusion
Univ.-Doz.Dipl.-Ing.Dr.techn.
Christian Hofstadler
Associate Professor Institute of Construction Management and Economics Graz University of Technology, Austria hofstadler@tugraz.at
Source: Hofstadler
Palisade Risk Conference in London

Construction Management 1
ChristianHOFSTADLER2010
CASE STUDY
Construction time is of crucial importance when it comes to utilizing the production factors in an effective and efficient way. Construction periods that are too short usually result in higher cost, poorer quality and a larger number of disputes. This presentation sets out to demonstrate the calculation of construction time and cost whilst considering key construction management parameters. Beyond a simple, deterministic method, other options for calculation are shown that rely on probability calculus. The approaches described to determine construction time and cost are illustrated by a building project example.
Conclusion
Source: Hofstadler

Production Factors Control Circuit
Production Factors
Elementary Production Factors
Construction Time/Cost
Dispositive Production Factors
Work
Conclusion
Organisation
Equipment
Planning
Material
Direction
Monitoring
Source:

Productivity as a Function of Time
Productivity [%]
Adequate Construction time
100 %
Conclusion
No go
Construction time [d]
Source: Hofstadler

Duration: From the Rough Planning to Detailed Planning Construction Time/ Costs
Rough Planning
Detailed Planning
Conclusion
Entire construction
Component Assembly
Component Assembly per Floor
Components/ Production units
Source: Hofstadler

Duration: From the Rough Planning to Detailed Planning

Construction Time/ Costs
Rough Planning
Detailed Planning
Entire construction
Component Assembly
Component Assembly per Floor
Components/ Production units
Conclusion
+
Accuracy
+
Processing effort
+
Certainty
Source: Hofstadler
_
6

Construction Management
Calculation of Construction Time and Costs Calculation Construction Time/Costs
Calculation Mode 1
Calculation Mode 2
Simplified Stochastic Approach
Calculation Mode 3
Application of Monte Carlo Method
Deterministic Approach
Conclusion
Source: Hofstadler

Calculation of Construction Time and Costs Calculation Construction Time/Costs
Calculation Mode 1
Calculation Mode 2
Simplified Stochastic Approach
Calculation Mode 3
Application of Monte Carlo Method
Deterministic Approach
Conclusion
Source: Hofstadler

Calculation of Construction Time: Deterministic Approach
Conclusion
Source: Hofstadler

Calculation Equation: Rough planning Calculation of Construction Time for Reinforced Concrete Works
Conclusion
WRCW , MAX WRCW , A
..................... Maximum number of workers [wh/hr] ..................... Average number of workers [wh/hr] ..................... Total duration of reinforced concrete works [d] ..................... Duration of the starting period of reinforced concrete works [d] ..................... concrete works [d]
Duration of the main construction time of reinforced
DTOT DSP
DMCT
DFS
..................... Duration of the final stage of reinforced concrete works [d]

Source: Hofstadler

Conclusion
DRCW, BU
QC WRCW WT RCW TRC A, RCW
BU T , RCW 100 %
DRCW, MIN
Source: Hofstadler
DRCW
DRCW, MAX
Conclusion
DRCW, BU RC A, FW
QC WRCW WT RCW FRA, BD RC A, RW RRA, BD RC A,CW
BU T , RCW 100 %
DRCW, MIN
Source: Hofstadler
DRCW
DRCW, MAX
Calculation Equation: Calculation of Construction Time

QC RC A, FW WRCW WT RCW FRA, BD RC A, RW RRA, BD RC A,CW BU T , RCW 100 %
DRCW, BU
DRCW,BU
QC WRCW WTRCW
. Duration of the reinforced concrete works incl. Buffer [d] . Concrete quantity [m] . Average number of workers [wh/hr] . Average daily working time [hr/d] Average labor consumption rate for . formwork-related activities [wh/m] . Average formwork ratio for the entire building [m/m] . Average labor consumption rate for reinforcement works [wh/t] . Average reinforcement ratio for the entire building [t/m] . Average labor consumption rate for concrete works [wh/m] . Buffer for construction time [%]
Source: Hofstadler
Conclusion
RCA, FW
FRA, BD
RCA, RW
RRA, BD
RCA,CW BUT , RCW

Calculation of Cost of Production: Deterministic Approach
Conclusion
Source: Hofstadler

Calculation Equation: Rough planning Calculation of Cost of Production for Reinforced Concrete Works
CPRCW , BU
QC
TCR A, RCW WA A, RCW
c A, EM , RCW
MU OHD 100 %
BU C , RCW 100 %
CRCW, BU
QC
TCRA,RCW
. Duration of the reinforced concrete works incl. Buffer [d] . Concrete quantity [m] Average total labor consumption rate for . reinforced concrete works [wh/m] . Average average wage for reinforced concrete works [/wh] Average equipment and materials costs for . reinforced concrete works [/m] . Mark-up for overhead costs [%] . Buffer for costs [%]
Source: Hofstadler
Conclusion
WAA, RCW
c A, EM, RCW
MU OHD
BUC , RCW

Calculation Equation: Rough planning Calculation of Cost of Production for Reinforced Concrete Works
CPRCW , BU
QC
c A, EM , RCW
MU OHD 100 %
BU C , RCW 100 %
Conclusion
CPRCW, MIN
CPRCW
CPRCW, MAX
Source: Hofstadler

Calculation Equation: Rough planning
TCRA, RCW
RCA, FW FRA, BD RCA, RW RRA, BD RCA,CW
TCRA,RCW
RCA, FW
Average total labor consumption rate for . reinforced concrete works [wh/m] Average labor consumption rate for . formwork-related activities [wh/m] . Average formwork ratio for the entire building [m/m] . Average labor consumption rate for reinforcement works [wh/t] . Average reinforcement ratio for the entire building [t/m] . Average labor consumption rate for concrete works [wh/m]
FRA, BD
RCA, RW
Conclusion
RRA, BD
RCA,CW
Source: Hofstadler

Calculation Equation: Rough planning
c A, EM, RCW
c A, EM, FW FRA, BD c A, EM, RW RRA, BD c A, EM,CW
c A, EM, RCW
c A, EM , FW
Average equipment and materials costs for . reinforced concrete works [/m]
Average equipment and materials costs for . formwork works [/m]

. Average formwork ratio for the entire building [m/m] Average equipment and materials costs for . reinforcement works [/t] . Average reinforcement ratio for the entire building [t/m] Average equipment and materials costs for . concrete works [/m]
FRA, BD
c A, EM , RW
Conclusion
RRA, BD
c A, EM ,CW
Source: Hofstadler

Calculation of Construction Time: Application of Monte Carlo Method
Conclusion
Source: Hofstadler

Influences on Production Rate

Construction method
Type of construction project
Location of the construction project External
Working time scheme
Working time regulations
Internal
General construction site conditions

General operating conditions
Daily working time
Disruptive influences
Influences of the construction method
Staff qualification
Labor productivity
Conclusion
Production Rate
Practice
Composition of the working group
Number of workers
Specific structural conditions
Familiarization
Specific structure conditions Availability Number of equipment Work space
Construction method
Source: Hofstadler

Selection of distribution functions and input of individual values
RCFW
FRBD
RCRW
RRBD
RCCW
Calculation with @RISK Monte Carlo Method
TRCRCW
Presenting the Results as Probability Distribution
Use within Interaction Diagrams
Interaction diagram for reinforced concrete works

12.000 11.500 11.000 10.500 10.000 9.500 9.000 8.500 8.000 7.500 7.000 6.500 6.000 5.500 5.000 4.500 4.000 3.500 3.000 2.500 2.000 1.500 1.000 0.500 0.000
100 90 80 70 60 50 40 30 20 10 0
II
DWT = 8 hr/d DWT = 9 hr/d DWT = 10 hr/d DWT = 11 hr/d

DWT = 12 hr/d DWT = 13 hr/d
Hourly output [m/hr]

140
DWT = 14 hr/d DWT = 15 hr/d DWT = 16 hr/d
130
120
110
12.000 W = 10 wh/hr W = 15 wh/hr W = 20 wh/hr 11.500 11.000 W = 25 wh/hr W = 30 wh/hr W = 35 wh/hr 10.500 W = 40 wh/hr W = 45 wh/hr W = 50 wh/hr 10.000 W = 55 wh/hr W = 60 wh/hr W = 65 wh/hr 9.500 W = 70 wh/hr W = 75 wh/hr W = 80 wh/hr 9.000 8.500 8.000 7.500 7.000 6.500 6.000 5.500 5.000 4.500 4.000 3.500 3.000 2.500 2.000 1.500 1.000 0.500 0.000 5.00 5.25 5.50 5.75 6.00 6.25 6.50 6.75 7.00 7.25 7.50 7.75 8.00 8.25 8.50
Conclusion
Daily output [m/d]

140 130 120 110 100 90 80 70 60 50 40 30 20 10 0
0
DRCW= 40 d DRCW= 45 d DRCW= 50 d DRCW= 55 d DRCW= 60 d DRCW= 65 d DRCW= 70 d DRCW= 75 d DRCW= 80 d DRCW= 85 d DRCW= 90 d DRCW= 95 d DRCW= 100 d DRCW= 105 d DRCW= 110 d
Total consumption rate [wh/m] Total labor productivity [wh/m]

5.00 5.25 5.50 5.75 6.00 6.25 6.50 6.75 7.00 7.25 7.50 7.75 8.00 8.25 8.50 0 1,000
1,000 2,000 3,000 4,000
Concrete quantity [m]
2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000

TWH= 10,000 TWH= 20,000 TWH= 30,000 TWH= 40,000 TWH= 50,000 wh wh wh wh wh TWH= 12,500 TWH= 22,500 TWH= 32,500 TWH= 42,500 TWH= 52,500 wh wh wh wh wh TWH= 15,000 TWH= 25,000 TWH= 35,000 TWH= 45,000 TWH= 55,000 wh wh wh wh wh TWH= 17,500 TWH= 27,500 TWH= 37,500 TWH= 47,500 TWH= 57,500 wh wh wh wh wh
III
91 d 107 d
5,000 6,000 7,000 8,000 9,000 10,000
IV
33,000 Std 38,500 Std
Christian HOFSTADLER
Source: Hofstadler

WRCW
WTRCW
RCFW
FRBD
RCRW
RRBD
RCCW
QC
BUT,RCW
Calculation with @RISK Monte Carlo Method
TRCRCW
PRRCW,ML
DRCW
DRCW, BU Presenting the Results as Probability Distribution
Calculation of Cost of Production: Application of Monte Carlo Method
Conclusion
Source: Hofstadler

RCFW
FRBD
RCRW
RRBD
RCCW
cEM,FW
FRBD
cEM,RW
RRBD
cEM,CW
TRCRCW
WARCW
QC
cEM,RCW
QC
DCLC,RCW
DCEM,RCW
DCRCW
MUOHD
CPRCW
BURCW
CPRCW,BU
Application
Conclusion
Source: Hofstadler

High-Rise Building Project - Key Details

Sectional view
Conclusion
Source: Hofstadler

High-Rise Building Project - Key Details

Floor plan
Conclusion
Source: Hofstadler

High-Rise Building Project - Key Details Office building: quantity determination

Conclusion
Components
1
Forming area
[m] 2 [%] 3
Reinforcement quantity
[t] 4 [%] 5
Concrete quantity
[m] 6 [%] 7 24.39 5.85 2.14 15.06 52.56 100
Ground plate Walls Columns Shafts Slabs
225 5,553 3,598 15,554 24,386 49,316
0.46 11.26 7.30 31.54 49.45 100
431 103 89 266 962 1,851
23.28 5.56 4.81 14.37 51.97 100
3,080 739 270 1,902 6,638 12,629
Source: Hofstadler

High-Rise Building Project - Key Details Input values to calculate the construction time
Construction method Working time scheme Working time regulations Type of construction project Location of the construction project External
Internal
Daily working time
Staff qualification
Labor productivity
Production Rate
Practice

Number of workers
Familiarization
Specific structure conditions
Availability Number of equipment
Work space
Construction method
Conclusion
MIN
EXP
MAX
Average labor consumption rate - formwork works Average formwork ratio for the entire building Average labor consumption rate - reinforcement works Average reinforcement ratio for the entire building Average labor consumption rate - concrete works Maximum number of workers Proportion of the average number of workers Daily working time Concrete Quanity Buffer
Source: Hofstadler
0.60 3.60 7.00 140.00 0.42 36.00 75.00 7.00 12,000 7.50
wh/m m/m wh/t kg/m wh/m wh/hr % hr/d m %
0.65 3.90 8.00 150.00 0.45 37.00 80.00 8.50 12,629 10.00
0.90 4.00 10.00 160.00 0.60 40.00 88.00 10.00 13,000 13.00

Calculation of Construction Time: Calculation Mode 1

MIN EXP MAX
DRCW, BU
QC RC A, FW WRCW WT RCW FRA, BD RC A, RW RRA, BD RC A,CW
BU T , RCW 100 %
0.60 3.60 7.00 140.00 0.42 36.00 75.00 7.00 12,000 7.50
0.65 3.90 8.00 150.00 0.45 37.00 80.00 8.50 12,629 10.00
0.90 4.00 10.00 160.00 0.60 40.00 88.00 10.00 13,000 13.00
Conclusion
DRCW, BU
12,629 m 37 wh / hr 0.8 8.5 hr / d 0.65 wh / m 3.9 m / m 8 wh / t 0.15 t / m 0.45 wh / m
10 % 100 %
231 d
Source: Hofstadler


QC RC A, FW WRCW WT RCW FRA, BD RC A, RW RRA, BD RC A,CW BU T , RCW 100 %
DRCW, BU
Productivity [%]
100 %
Conclusion
No go
231d

Source: Hofstadler

The values from this table are used for the input variables to calculate total labour consumption rate, daily production rate and duration (weighted triangular distribution).
MIN
Conclusion
EXP
MAX
Source: Hofstadler
0.60 3.60 7.00 140.00 0.42 36.00 75.00 7.00 12,000 7.50
0.65 3.90 8.00 150.00 0.45 37.00 80.00 8.50 12,629 10.00
0.90 4.00 10.00 160.00 0.60 40.00 88.00 10.00 13,000 13.00

Monte-Carlo Simulation Results: Duration (incl. Buffer)
Conclusion
5%
95 %
CT 1 = 202 d
Source: @RISK, Hofstadler
CT 2 = 286 d

Change of Distribution Functions
Isosceles Triangular Distribution
Weighted Triangular Distribution
Uniform Distribution
Beta Distribution
Conclusion
Consequences
?
Source: Hofstadler

0.018
Simulation 1 Isosceles Triangular Distribution
Simulation 2 Weighted Triangular Distribution
0.016
0.014
Simulation 3 Unif orm Distribution
0.012
Simulation 4 Beta Distribution
0.010
Conclusion
0.008
0.006
0.004
0.002
0.000 150 200 250 300 350 400
Construction Time incl. Buffer [d]

Source: Hofstadler

Productivity and Construction Time
Productivity [%]
100 %
Conclusion
No go

Source: Hofstadler

High-Rise Building Project - Key Details Input values to calculate the construction time
Construction method Working time scheme Working time regulations Type of construction project Location of the construction project External
Internal
Daily working time
Staff qualification
Labor productivity
Production Rate
Practice

Number of workers
Familiarization
Specific structure conditions
Availability Number of equipment
Work space
Construction method
Conclusion
MIN
EXP
MAX
Equipment and materials costs - formwork Average formwork ratio for the entire building Equipment and materials costs - reinforcement Average reinforcement ratio for the entire building Equipment and materials costs - concrete Average wage Mark-up for overheads Buffer
Source: Hofstadler
5.00 /m 3.60 m/m 400.00 /t 140.00 kg/m 80.00 /m 27.00 /wh 10.00 % 5.00 %
6.00 /m 3.90 m/m 500.00 /t 150.00 kg/m 90.00 /m 30.00 /wh 14.00 % 10.00 %
8.00 /m 4.00 m/m 600.00 /t 160.00 kg/m 95.00 /m 31.00 /wh 17.00 % 15.00 %

Calculation of the Cost of Production: Calculation Mode 1
MIN
EXP
MAX
Equipment and materials costs - formwork Average formwork ratio for the entire building Equipment and materials costs - reinforcement
5.00 /m 3.60 m/m 400.00 /t 140.00 kg/m 80.00 /m 27.00 /wh 10.00 % 5.00 %
6.00 /m 3.90 m/m 500.00 /t 150.00 kg/m 90.00 /m 30.00 /wh 14.00 % 10.00 %
8.00 /m 4.00 m/m 600.00 /t 160.00 kg/m 95.00 /m 31.00 /wh 17.00 % 15.00 %
CPRCW , BU
QC
c A, EM , RCW
MU OHD 100 %
BU C , RCW 100 %
Average reinforcement ratio for the entire building Equipment and materials costs - concrete Average wage Mark-up for overheads Buffer
Conclusion
CPRCW , BU
QC
c A, EM , RCW
MU OHD 100 %
BU C , RCW 100 %
Source: Hofstadler


MIN EXP MAX
CPRCW , BU
QC
c A, EM , RCW
MU OHD 1 100 %
BU C , RCW 100 %
TCRA, RCW
RCA, FW FRA, BD RCA, RW RRA, BD RCA,CW
Average labor consumption rate - formwork works Average formwork ratio for the entire building Equipment and materials costs - formwork Average formwork labor consumption rate - reinforcement works Average ratio for the entire building Average reinforcement ratio for the entire building Equipment and materials costs - reinforcement Average labor consumption rate - concrete works Average reinforcement ratio for the entire building Maximum number of workers Equipment and materials costs - concrete Proportion of the average number of workers Average wagetime Daily working Mark-up for overheads Concrete Quanity Buffer
0.60 wh/m MIN 3.60 /m m/m 5.00 7.00 m/m wh/t 3.60 140.00 kg/m 400.00 /t 0.42 wh/m 140.00 kg/m 36.00 wh/hr 80.00 /m 75.00 % 27.00 7.00 /wh hr/d 10.00 % 12,000 m 5.00 7.50 % %
0.65 wh/m EXP 3.90 /m m/m 6.00 8.00 m/m wh/t 3.90 150.00 kg/m 500.00 /t 0.45 wh/m 150.00 kg/m 37.00 wh/hr 90.00 /m 80.00 % 30.00 8.50 /wh hr/d 14.00 % 12,629 m 10.00 10.00 % %
0.90 wh/m MAX 4.00 /m m/m 8.00 10.00 wh/t 4.00 m/m 160.00 kg/m 600.00 /t 0.60 wh/m 160.00 kg/m 40.00 wh/hr 95.00 /m 88.00 % 31.00 10.00 /wh hr/d 17.00 % 13,000 m 15.00 13.00 % %
TCR A, RCW
0.65 wh / m 3.90 m / m 8.00 wh / t 0.15 t / m 0.45 wh / m 4.19 wh / m

MIN EXP MAX
Conclusion
Equipment and materials costs - formwork Average formwork ratio for the entire building Equipment and materials costs - reinforcement Average reinforcement ratio for the entire building Equipment and materials costs - concrete Average wage
5.00 /m 3.60 m/m 400.00 /t 140.00 kg/m 80.00 /m 27.00 /wh 10.00 % 5.00 %
6.00 /m 3.90 m/m 500.00 /t 150.00 kg/m 90.00 /m 30.00 /wh 14.00 % 10.00 %
8.00 /m 4.00 m/m 600.00 /t 160.00 kg/m 95.00 /m 31.00 /wh 17.00 % 15.00 %
c A, EM, RCW
c A, EM, FW FRA, BD c A, EM, RW RRA, BD c A, EM,CW
Mark-up for overheads Buffer
c A, EM, RCW
6.00 / m 3.90 m / m 500.00 / t 0.15 t / m 90.00 / m 188.40 / m

Source: Hofstadler
MIN
EXP
MAX
Equipment and materials costs - formwork Average formwork ratio for the entire building Equipment and materials costs - reinforcement
5.00 /m 3.60 m/m 400.00 /t 140.00 kg/m 80.00 /m 27.00 /wh 10.00 % 5.00 %
6.00 /m 3.90 m/m 500.00 /t 150.00 kg/m 90.00 /m 30.00 /wh 14.00 % 10.00 %
8.00 /m 4.00 m/m 600.00 /t 160.00 kg/m 95.00 /m 31.00 /wh 17.00 % 15.00 %
CPRCW , BU
QC
c A, EM , RCW
MU OHD 100 %
BU C , RCW 100 %
Average reinforcement ratio for the entire building Equipment and materials costs - concrete Average wage Mark-up for overheads Buffer
Conclusion
CPRCW , BU
12,629 m
4.19 wh / m 30 / wh 188.40 / m
14 % 100 %
10 % 100 %
4,974,328
Source: Hofstadler

The values from this table are used for the input variables to calculate cost of production (weighted triangular distribution).
Conclusion
MIN
EXP
MAX
Equipment and materials costs - formwork Average formwork ratio for the entire building Equipment and materials costs - reinforcement Average reinforcement ratio for the entire building Equipment and materials costs - concrete Average wage Mark-up for overheads Buffer
Source: Hofstadler
5.00 /m 3.60 m/m 400.00 /t 140.00 kg/m 80.00 /m 27.00 /wh 10.00 % 5.00 %
6.00 /m 3.90 m/m 500.00 /t 150.00 kg/m 90.00 /m 30.00 /wh 14.00 % 10.00 %
8.00 /m 4.00 m/m 600.00 /t 160.00 kg/m 95.00 /m 31.00 /wh 17.00 % 15.00 %

Monte-Carlo Simulation Results: Costs (incl. Buffer)
Conclusion
5%
95 %
Source: @RISK, Hofstadler
CP 1 = 4,64
CP 2 = 5,40

Isosceles Triangular Distribution
Weighted Triangular Distribution
Uniform Distribution
Beta Distribution
Conclusion
Consequences
?
Source: Hofstadler

0.0000020 0.0000018 0.0000016

Simulation 1 Isosceles Triangular Distribution Simulation 2 Weighted Triangular Distribution
Simulation 3 Unif orm Distribution
0.0000014 0.0000012 0.0000010
Simulation 4 Beta Distribution
Conclusion
0.0000008 0.0000006 0.0000004 0.0000002 0.0000000 4,000,000
4,500,000
5,000,000
5,500,000
6,000,000
6,500,000
Cost of Production incl. Buffer []

Source: Hofstadler

Construction Time and Construction Costs

Productivity [%]
100 %
No go
Conclusion
The specification of a reasonable construction time makes a substantial contribution towards the economical use of elementary and discretionary production factors, or at least creates the preconditions to do so. Workers, equipment and materials can be used cost-efficiently. A realistic construction time can be calculated once construction management boundary conditions have been considered.
Source: Hofstadler

Many Thanks!
Conclusion
Source: Hofstadler


Christian Hofstadler - Calculation of Construction Costs For Building Projects - Application of The Monte Carlo Method

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Christian Hofstadler - Calculation of Construction Costs For Building Projects - Application of The Monte Carlo Method

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CASE STUDY

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Application: High-Rise Building

Palisade Risk Conference in London

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Application: High-Rise Building

Palisade Risk Conference in London

Production Factors Control Circuit

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Elementary Production Factors

Dispositive Production Factors

Application: High-Rise Building

Palisade Risk Conference in London

Productivity as a Function of Time

Calculation Mode 1: Deterministic Approach

Analysis of Situation Objective

Adequate Construction time

Calculation Mode 3: Monte Carlo Method

Construction time [d]

Palisade Risk Conference in London

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Application: High-Rise Building

Component Assembly per Floor

Components/ Production units

Palisade Risk Conference in London

Duration: From the Rough Planning to Detailed Planning

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Application: High-Rise Building

Component Assembly per Floor

Components/ Production units

Palisade Risk Conference in London

Calculation of Construction Time and Costs Calculation Construction Time/Costs

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Palisade Risk Conference in London

Calculation of Construction Time and Costs Calculation Construction Time/Costs

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Palisade Risk Conference in London

Calculation of Construction Time: Deterministic Approach

Analysis of Situation Objective

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Application: High-Rise Building

Palisade Risk Conference in London

Calculation Mode 1: Deterministic Approach

Calculation Mode 3: Monte Carlo Method

Application: High-Rise Building

WRCW , MAX WRCW , A

..................... Duration of the final stage of reinforced concrete works [d]

Palisade Risk Conference in London