Time is the most Important Resource for Increasing Construction Efficiency

Abstract

Time is presented as a special category of resource in the investment and construction process influencing directly or indirectly the final economic results of this type of activity. The main emphasis is placed by the authors in the course of justifying their approach on giving consideration in the context of this publication to such parameters as the service live of the ready construction product; investments payback period; duration of object construction; intensity of investment in time; labor productivity, etc. Proceeding from the revealed time losses between designing and construction; preparation to construction and its beginning; inter-shift and whole-shift downtime due to unsatisfactory production discipline; failures to meet the production resources delivery dates; disturbed plans of performing works, a conclusion has been made on the fact that solution of each of the foregoing tasks is the direct time saving and one of the main trends for increasing economic effectiveness of construction. It has been justified that the intensity of investing in time shall grow from a minimum at the initial stage to a maximum at the final stage.