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Project cost dynamics for development policy-making

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  • A N Mashayekhi

    (Sharif University of Technology)

Abstract

Cost and time overruns have been a common characteristic of development projects in many countries. This paper presents a theory of cost and time overruns based on project cost structure. The cost of a development project consists of base cost and progress cost. Base cost keeps a project ready for physical progress. Progress cost creates real physical progress on the project. This cost structure has an important inherent dynamic characteristic with implications for the efficiency and effectiveness of project management. An imbalance between annual budget and ongoing projects results in an increasing inefficiency and ineffectiveness unrelated to the quality of management of individual projects. The policy governing the starting rate of the new projects becomes very important in improving project performances. The paper also suggests some policy recommendations for commencing new projects.

Suggested Citation

  • A N Mashayekhi, 2000. "Project cost dynamics for development policy-making," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 51(3), pages 301-310, March.
    • Handle: RePEc:pal:jorsoc:v:51:y:2000:i:3:d:10.1057_palgrave.jors.2600897
    DOI: 10.1057/palgrave.jors.2600897
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    Cited by:

    1. A. Sardi & E. Sorano, 2021. "Dynamic Performance Management: An Approach for Managing the Common Goods," Papers 2102.04090, arXiv.org.
    2. Alberto Sardi & Enrico Sorano, 2019. "Dynamic Performance Management: An Approach for Managing the Common Goods," Sustainability, MDPI, vol. 11(22), pages 1-22, November.
    3. Mingers, John & White, Leroy, 2010. "A review of the recent contribution of systems thinking to operational research and management science," European Journal of Operational Research, Elsevier, vol. 207(3), pages 1147-1161, December.

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