Abstract
Abstract
The article presents an alternative approach to calculating extensions of time (EOTs) and delay-related claims through the use of Forensic Delay Analysis (FDA) technique – Time Impact Analysis (TIA) – in combination with Quantitative Schedule Risk Analysis (QSRA). The authors present several theoretical and pragmatic arguments in favour of adopting a probabilistic approach to the calculation of time overruns and their cost implications in a major project environment, while identifying areas for further research. The new technique is further presented and tested on the basis of a mock schedule and scenario that mimics a setting frequently encountered in a real project, which is then compared with the results typically obtained through the conventional application of deterministic delay analysis. To add credibility, the proposal is evaluated by a focus group - consisting of practitioners specialised in EOT calculation and delay analysis. The study aims to assess the effectiveness and reliability of the combined TIA and QSRA method in determining extensions of time and delay-related claims in complex projects. It also seeks to explore the practical implications and benefits of adopting a probabilistic approach compared to conventional deterministic delay analysis techniques.