Three Dimensional Time, Cost and Quality Tradeoff Optimization in Project Decision Making

Hadi Mokhtari; Ali Salmasnia; Mahdi Bastan

doi:10.4028/www.scientific.net/AMR.433-440.5746

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HomeAdvanced Materials ResearchAdvanced Materials Research Vols. 433-440Three Dimensional Time, Cost and Quality Tradeoff...

Three Dimensional Time, Cost and Quality Tradeoff Optimization in Project Decision Making

Abstract:

Time, cost and quality are crucial aspects of each project and tradeoff among them is important for improvement of the overall performance of industrial and construction projects. In this paper we suggest that the quality is added into the traditional time-cost trade-off problem (TCTP) and develop a three dimensional time, cost and quality trade-off problem (TCQTP) with some realistic assumptions. To the best of our knowledge this problem has not been extensively treated in literature yet. In order to deal with the suggested stochastic TCQTP, a statistical robust solution method is adapted in which not only the correlations among objectives are considered but also the variance of objectives is minimized. A computational study on an illustrative example is done and the results support the applicability and reliability of the suggested model.

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Periodical:

Advanced Materials Research (Volumes 433-440)

Pages:

5746-5752

DOI:

https://doi.org/10.4028/www.scientific.net/AMR.433-440.5746

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Online since:

January 2012

Authors:

Hadi Mokhtari, Ali Salmasnia, Mahdi Bastan

Keywords:

Component, Cost, Decision-Making, Project Scheduling, Quality Tradeoff Analysis, Robust Method, Time

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