Paper Title:
Assessing the Time-Cost Trade-Off of Construction Projects
  Abstract

By using Genetic Algorithms (GAs), a resource-integrated model is presented to identify the relationships between project time and cost in consideration of the changes in resource efficiency under different working durations. Under the assumption of a non-linear quadratic relationship between resource efficiency and working duration, the minimum and maximum project costs for different project completion times are easily identified and the trade-off relationships between the project time and cost are clearly presented by using the proposed model and a case study. The research results logically suggest that the greater the adjustable range of activity durations, the lower the minimum project cost for a specific project’s completion time will be, and the greater the value of an activity is, the later the activity will be adjusted.

  Info
Periodical
Advanced Materials Research (Volumes 243-249)
Edited by
Chaohe Chen, Yong Huang and Guangfan Li
Pages
6394-6399
DOI
10.4028/www.scientific.net/AMR.243-249.6394
Citation
W. Lo, M. E. Kuo, "Assessing the Time-Cost Trade-Off of Construction Projects", Advanced Materials Research, Vols. 243-249, pp. 6394-6399, 2011
Online since
May 2011
Authors
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Price
$32.00
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