Value Of Time
Definition - What does Value Of Time mean?
Value of time in the context of trenchless technology can be defined as the monetary value assigned to time saved or lost in a trenchless installation project.
Any project is guided by the concept of time, and saved or delayed time is compensated in monetary terms either as bonus or fine. Trenchless installation methods such as horizontal directional drilling (HDD), microtunneling etc. require the use of machinery, material and workers that need to be managed well in order to make the project profitable.
Trenchlesspedia explains Value Of Time
The most important part of a trenchless installation or rehabilitation project is the time spent on the completion of the project. Traditional methods of installation and repair required trenching of the ground surface and diversion of traffic leading to lost time in longer routes and closed shops leading to economic losses to individuals and businesses.
Trenchless technology has brought new meaning to the value of time by eliminating the need for excavation, consequently eliminating the need to divert traffic and close businesses. To take advantage of the benefits of trenchless technology, contractors should utilize the concept of the value of time by managing their project from the start to the end. Utilizing time and automated technology effectively can help in completing a project ahead of time, leading to greater monetary profit.