DEFINITION of ‘Time Impact Analysis Methodology’
Typically performed by the project scheduler, a Time Impact Analysis is a scheduling methodology used to determine the effect an unexpected event or issue will have on the timeline of a project. The technique can also be leveraged in the validation of schedule impacts from project acceleration or delay. Both sets of information are vital as they enable clear negotiation and they can be particularly useful after-the-fact during litigation or delay claims.
BREAKING DOWN ‘Time Impact Analysis Methodology’
In consideration of excusable risks, such as those caused by a hurricane, implement weather or a labour strike, the Time Impact Analysis helps calculate the amount of time necessary to delay the project, and indeed identifies the time frame which should be / should have been granted to the contractor. A Time Impact Assessment can also be performed in advance to model how potential events might impact the project and how much of a contractual adjustment will be required.