Australian project time-cost analysis: Statistical analysis of intertemporal trends

Abstract

In statistical analysis of intertemporal movements in time–cost relationships via the Bromilow model it is shown that for Ng et al.’s (2001) Australian data, the K value is not significantly different from unity. This is utilized to develop a new and simpler ratio measure of the time–cost relationship, which has the advantage of being obtainable for each project. A scatter plot and a statistical analysis of the project ratios indicate significant yearly fluctuations but no underlying trend. Assuming similar characteristics of the data from previous studies, equivalent average ratios are estimated and plotted, confirming Ng et al.’s visual appearance of a possible downward trend. However, the statistical analysis is inconclusive on the issue, there being insufficient data (six points) for a full analysis.