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EDITOR'S NOTES
“Time is money.” Benjamin Franklin was the first to say it. Economics professor Ian Walker at England’s Warwick University proved it four years ago with an inventive formula. Now, Larry True joins the ranks of professionals who have touted its merits. And, it forms the basis for this month’s project controls feature.
Time saving also plays a major role in the success of a contraction management firm that employed a web-based collaborative tool to boost its productivity, as John Jurewicz points out in his online project management article.
Gordon Aronson offers a tutorial on the effects of manipulating time through a variety of finish constraints in Primavera 5.
And finally, Paul Levin provides a review of a recent information technology survey by the Construction Financial Management Association.
If you have a little extra time on your hands and want to know what your time is worth, here is Professor Walker’s formula as reported by CNN:
V=(W((100-t)/100))/C, where V is the value of an hour, W is a person’s hourly wage, t is the tax rate and C is the local cost of living.
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TIME IS MONEY
By Larry True
From materials to labor to equipment standby costs, everything related to a construction project comes with a price. Time is no exception, says Larry True, in this month’s cost control feature.
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USGLOBALNET: A SUCCESS STORY
By John Jurewicz of ASPTIP.COM
John Jurewicz shows that customization is the trend in web-based collaborative tools. He sits down with company leaders at Menemsha Construction Solutions for a look at how USGlobalNet has helped grow the company’s capabilities.
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