Presentation Topic: Managing Project Float / Time Contingency
Abstract: Contractors and owners try to financially protect themselves by allocating the risk in the contract and setting a fund outside the project cost estimate, called contingency. For contractors, especially in lump-sum contracts, this contingency fund covers events that are likely to happen but are reimbursable by the insurance or owner. Uncertainties and risks also impact time, so the contractor must make provisions for events that are likely to happen (and delay the project), but do not qualify for extension of time.
Typically, the contractor needs to create a time buffer between the target finish date and the contract finish date. The target finish date is calculated based on the contractor’s assumptions, most importantly crews’ and subs’ production rates. We call this buffer project float or time contingency. However, this buffer may not be enough, so the contractor must create another buffer that extends in the opposite direction of project float. It is created by accelerating the schedule and shortening its duration. We call it compressibility.
With both time buffers, the contractor must choose how and when to use them throughout the execution phase. This depends on several factors with the focus on minimizing total cost and maximizing profit.
This presentation will provoke the thinking and offer more questions than answers.
Speaker:
Saleh A. Mubarak, Ph.D.
Consultant, professor, author, and public speaker in construction project management
Dr. Saleh A. Mubarak, professor, consultant, author, public speaker, and trainer, is an international authority in project planning, scheduling, cost estimating, and project controls. He is the author of three books, “Construction Project Scheduling and Control, 5th edition, published by Wiley” and “How to Estimate with Means Data: Basic Skills for Building Construction, 5th edition, published by Wiley”, Project Management in the Construction Industry: From Concept to Completion. Hundreds of presentations at professional conferences such as PMI, AACE International. Public and keynote speaker in many local, regional, and international events. In addition to technical topics, seminars and presentations include non-technical topics such as soft skills for the project management teams.
Dr. Mubarak holds a Ph.D. in civil engineering / construction management from Clemson University and a M.Sc. in civil engineering / structures from Ohio University. Academically, he served for five years at Qatar University, first as professor and then as department head, and his extensive experience in continuing education and professional training has taken him around the world. He is currently an independent consultant and adjunct professor at USF (Tampa).
Dr. Mubarak has over 30 years of diversified experience in the construction industry. He has worked in the private and public sectors, both in the U.S. and internationally. Positions held include civil engineer, structural engineer, project manager, project engineer, cost estimator, planner, scheduler, project controls manager, cost manager, and training manager.
As an active member of several professional organizations, including PMI and AACE International, Dr. Mubarak has given presentations at many local, regional, and international events. Topics include project planning, scheduling, and project controls, but he is also an advocate for holistic healthy living. To learn more about Dr. Saleh Mubarak, click here, for his personal interview with Dr. Kamran Akbarzadeh, the co-director of the Project Control Academy.
Click here to RSVP before the end of business day Wednesday, 10SEP25.
Please register by Wednesday, 09/10/2025; an invitation, including the Webinar link, will be e-mailed to you. For AACE members who hold professional certifications, Webinar attendance counts toward renewal points as long as online attendance for the entire presentation is verified.