TOTAL FLOAT MANAGEMENT TECHNIQUE UNDER THE FLOAT AND RESOURCE LOADING
10 months ago
Authors:
Võ Minh Huy
Publication date:
30 / 06 / 2023
Name of Publishers:
Tra Vinh University Journal of Science
Abstract:
Schedule delays in construction projects are a common occurrence and can have a significant impact on the overall project duration. Plentiful delay analysis techniques have been proposed and utilized to resolve these issues. The Total Float Management (TFM) method is widely accepted and considered the most fundamental approach as it effectively resolves four major delay issues and measures float consumption. However, current delay analysis techniques are often overlooked the allocation of float and resources, which can remarkably affect the determination of delay responsibilities for involved parties. This study aims to enhance the TFM approach by intensively incorporating float and resource loading considerations prior to delay analysis implementation. The research methodology includes an extensive literature review, identification of crucial issues related to schedule delays arising from the lack of resource and total float allocation, and the application of TFM under float and resource loading through a case study for a test validation. The research findings provide transparent insights into delay liability, considering both time delays and float consumption, and emphasize the importance of float and resource allocation in the early stages of construction projects for a consensus before analyzing and assigning delay responsibilities. Future studies could focus on legalizing the procedural considerations of float ownership and resource allocation in contract agreement.