Abstract:
Estimation, the process of approximate the cost of all the activities in a project which exhibit the total cost of the project, and Scheduling, which is the break-down of total time allocated to project into different activity's duration and sequencing it in such a way that it form a network which shows us how these activities are interlinked, are two very important components of project management which are used in different phases of project i.e. planning, execution and monitoring.
This paper helps to develop the basic understanding of these two topics along with project management and its other components. The project is the application of theoretical knowledge about project management and its implementation in construction industry of our country to complete different construction projects effectively. In spite of many developments in construction industry some negligence is made in this part due to which project stakeholders suffers different time and cost overrun. Starting from very basic we estimated the cost of each quantity and will estimate the time and then interlink them which will tell us the total cost and time of project and then we will interlink these activities in a way to give us the best suitable schedule of activities to complete the projects in a cost effective and time effective manner.
After estimating and scheduling a high rise building we will compare the cost and time we planned with the cost and time taken by real-time project and some measurements would be listed that should be taken at right time to avoid any loss.
