A novel multi criteria decision making model for optimizing time–cost–quality trade-off problems in construction projects

2015 ◽  
Vol 42 (6) ◽  
pp. 3089-3104 ◽  
Author(s):  
Shahryar Monghasemi ◽  
Mohammad Reza Nikoo ◽  
Mohammad Ali Khaksar Fasaee ◽  
Jan Adamowski
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Multi Criteria Decision Making ◽  
Time Cost ◽  
Trade Off ◽  
Decision Making Model

scholarly journals Investigating the Environmental Impacts of Construction Projects in Time-Cost Trade-Off Project Scheduling Problems with CoCoSo Multi-Criteria Decision-Making Method

2021 ◽  
Vol 13 (19) ◽  
pp. 10922
Author(s):  
Sayyid Ali Banihashemi ◽  
Mohammad Khalilzadeh ◽  
Edmundas Kazimieras Zavadskas ◽  
Jurgita Antucheviciene
Keyword(s):  
Decision Making ◽  
Environmental Impacts ◽  
Environmental Effects ◽  
Project Scheduling ◽  
Construction Projects ◽  
Multi Criteria Decision Making ◽  
Time Cost ◽  
Scheduling Problems ◽  
Trade Off ◽  
Project Activity

Currently, construction projects have a significant share in environmental pollution. Usually, the employers and managers of construction projects pay attention to the project implementation with the shortest duration and the lowest cost, whereas less attention is paid to the environmental effects of the implementation of projects. Sustainable development requires the planning and implementation of construction projects, taking environmental impacts, along with other factors, into account. Few studies have investigated the balancing time, cost, and environmental effects. Although the selection of an execution method for the project activity requires the use of decision-making methods, these methods have not been used in the project scheduling problems. This study seeks to simultaneously minimize the project time, cost, and environmental impacts. The purpose of this study is to evaluate the environmental impact of project activities in three physical, biological, and social aspects throughout the construction projects, and to attempt to minimize them as measurable values. In this paper, the environmental effects of an urban water supply construction project as a real case study are assessed in different activity execution modes by the Leopold matrix and the best execution mode of each project activity is selected using the CoCoSo (combined compromise solution) multi-criteria decision-making method, considering the time–cost-environmental impact trade-off. The CoCoSo method is employed because of its high flexibility compared to other multi-criteria decision-making methods. The results of this study will direct managers and stakeholders of construction projects to pay more attention to the environmental effects of construction project activities, together with the other conventional project goals and objectives, such as the time and cost.

Optimizing time–cost in generalized construction projects using multiple-objective social group optimization and multi-criteria decision-making methods

2020 ◽  
Vol 27 (9) ◽  
pp. 2287-2313 ◽  
Author(s):  
Duc Hoc Tran
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Project Managers ◽  
Multiple Objective ◽  
Cost Curve ◽  
Multi Criteria Decision Making ◽  
Construction Process ◽  
Time Cost ◽  
Content Type ◽  
Social Group Optimization

PurposeProject managers work to ensure successful project completion within the shortest period and at the lowest cost. One of the main tasks of a project manager in the planning phase is to generate the project time–cost curve, and furthermore, to determine the most appropriate schedule for the construction process. Numerous existing time–cost tradeoff analysis models have focused on solving a simple project representation without regarding for typical activity and project characteristics. This study aims to present a novel approach called “multiple-objective social group optimization” (MOSGO) for optimizing time–cost decisions in generalized construction projects.Design/methodology/approachIn this paper, a novel MOGSO to mimic the time–cost tradeoff problem in generalized construction projects is proposed. The MOSGO has slightly modified the mechanism operation from the original algorithm to be a free-parameter algorithm and to enhance the exploring and exploiting balance in an optimization algorithm. The evidential reasoning technique is used to rank the global optimal obtained non-dominated solutions to help decision makers reach a single compromise solution.FindingsTwo case studies of real construction projects were investigated and the performance of MOSGO was compared to those of widely considered multiple-objective evolutionary algorithms. The comparison results indicated that the MOSGO approach is a powerful, efficient and effective tool in finding the time–cost curve. In addition, the multi-criteria decision-making approaches were applied to identify the best schedule for project implementation.Research limitations/implicationsAccordingly, the first major practical contribution of the present research is that it provides a tool for handling real-world construction projects by considering all types of construction project. The second important implication of this study derives from research finding on the hybridization multiple-objective and multi-criteria techniques to help project managers in facilitating the time–cost tradeoff (TCT) problems easily. The third implication stems from the wide-range application of the proposed model TCT.Practical implicationsThe model can be used in early stages of the construction process to help project managers in selecting an appropriate plan for whole project lifecycle.Social implicationsThe proposal model can be applied to multi-objective contexts in diversified fields. Moreover, the model is also a useful reference for future research.Originality/valueThis paper makes contributions to extant literature by: introducing a method for making TCT models applicable to actual projects by considering general activity precedence relations; developing a novel MOSGO algorithm to solving TCT problems in multi-objective context by a single simulation; and facilitating the TCT problems to project managers by using multi-criteria decision-making approaches.

scholarly journals Fuzzy Multicriteria Decision-Making Model for Time-Cost-Risk Trade-Off Optimization in Construction Projects

2019 ◽  
Vol 2019 ◽  
pp. 1-7 ◽  
Author(s):  
M. Ammar Alzarrad ◽  
Gary P. Moynihan ◽  
Muhammad T. Hatamleh ◽  
Siyuan Song
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Multicriteria Decision Making ◽  
Attractive Alternative ◽  
Time Cost ◽  
Analytic Hierarchy ◽  
Trade Off ◽  
Multicriteria Decision ◽  
Trade Offs ◽  
Cost Risk

As is often the case in project scheduling, when the project duration is shortened to decrease total cost, the total float is lost resulting in added critical or nearly critical activities. This, in turn, results in decreasing the probability of completing the project on time and increases the risk of schedule delays. To solve this problem, this research developed a fuzzy multicriteria decision-making (FMCDM) model. The objective of this model is to help project managers improve their decisions regarding time-cost-risk trade-offs (TCRTO) in construction projects. In this model, an optimization algorithm based on fuzzy logic and analytic hierarchy process (AHP) has been used to analyze the time-cost-risk trade-off alternatives and select the best one based on selected criteria. The algorithm was implemented in the MATLAB software and applied to two case studies to verify and validate the presented model. The presented FMCDM model could help produce a more reliable schedule and mitigate the risk of projects running overbudget or behind schedule. Further, this model is a powerful decision-making instrument to help managers reduce uncertainties and improve the accuracy of time-cost-risk trade-offs. The presented FMCDM model employed fuzzy linguistic terms, which provide decision-makers with the opportunity to give their judgments as intervals comparing to fixed value judgments. In conclusion, the presented FMCDM model has high robustness, and it is an attractive alternative to the traditional methods to solve the time-cost-risk trade-off problem in construction.

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

2012 ◽  
Vol 433-440 ◽  
pp. 5746-5752 ◽  
Author(s):  
Hadi Mokhtari ◽  
Ali Salmasnia ◽  
Mahdi Bastan
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Solution Method ◽  
Computational Study ◽  
Three Dimensional ◽  
Time Cost ◽  
Suggested Model ◽  
Trade Off ◽  
Robust Solution ◽  
Overall Performance

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.

scholarly journals Optimal Fall Protection System Selection Using a Fuzzy Multi-Criteria Decision-Making Approach for Construction Sites

2021 ◽  
Vol 11 (11) ◽  
pp. 5296
Author(s):  
Haifeng Jin ◽  
Paul M. Goodrum
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Multi Criteria Decision Making ◽  
Construction Sites ◽  
Solution Approach ◽  
Order Preference ◽  
Fall Risks ◽  
Fall Protection ◽  
System Selection ◽  
Decision Making Model

Construction falls are a leading cause of fatalities in almost every construction industry around the globe, and fall protection systems are the key measures to ensure the safety of labor crews. This study develops a fuzzy multi-criteria decision-making model integrating analytical hierarchy process, fuzzy set theory and Technique for Order Preference by Similarity to Ideal Solution approach to analyze the overall performance of various fall protection plans for construction projects, which focuses on evaluation and selection of the appropriate protection plan considering the most influential safety, productivity, and economy factors. Results show that the optimal plan can be effectively identified and determined among all potential alternatives. Besides, the model overcomes the shortcoming of weight value uncertainty and ambiguous decision information through membership function calculations. As a result, it provides guidance for the improvement of construction performance, intending to minimize fall risks, improve labor productivity, and save economical cost on the jobsites.

scholarly journals Trading off Time–Cost–Quality in Construction Project Scheduling Problems with Fuzzy SWARA–TOPSIS Approach

Buildings ◽  
2021 ◽  
Vol 11 (9) ◽  
pp. 387
Author(s):  
Sayyid Ali Banihashemi ◽  
Mohammad Khalilzadeh ◽  
Jurgita Antucheviciene ◽  
Jonas Šaparauskas
Keyword(s):  
Decision Making ◽  
Project Scheduling ◽  
Construction Projects ◽  
Construction Project ◽  
Solution Technique ◽  
Time Cost ◽  
Trade Off ◽  
Project Activity ◽  
Project Objectives ◽  
Construction Project Scheduling

The increasing number of construction projects together with the limited resources of organizations led to tough competition for achieving project goals. Time, cost, and quality have been known as the project iron triangle. Project managers attempt to allocate the appropriate resources and make the best decisions for accomplishing projects with the shortest durations, lowest costs, and the highest quality. No study has examined the time–cost–quality trade-off problem with decision-making approaches. In this study, the fuzzy multi-criteria decision-making (MCDM) methods are exploited to choose the best mode for performing each activity. For this purpose, the SWARA method is applied to determine the importance weights of time, cost, and quality. In addition, the TOPSIS (Technique for the Order Preference by Similarity to Ideal Solution) technique is used to rank and select the best activity execution modes. The proposed model is implemented on two medium- and large-size construction projects to evaluate its efficiency. Several execution modes with fuzzy duration, cost, and quality are considered for each project activity. Finally, sensitivity analysis is conducted taking three different conditions into account: the shortest duration of the execution modes, the lowest cost of the execution modes, and the highest quality of execution modes for each activity. The solution of each trade-off is compared with the solution obtained from the fuzzy SWARA–TOPSIS method. The schedule is developed according to the best execution mode for each project activity. The obtained results in two different construction projects show significant improvements in the overall project objectives so that the projects can be completed in fewer durations and costs along with higher quality. Because of the higher importance of cost, the cost of each activity is closer to the lowest cost. The activity duration is also closer to the most likely duration, and quality is closer to the high-quality level. The application of this approach can create new opportunities for research and knowledge development in the field of construction project scheduling.

scholarly journals Development of Multi-Criteria Decision Making Model in the Packaged Beverage Industry to Minimize Production Costs and Maximize Machine Utility using the Step Method

2021 ◽  
Vol 1 (1) ◽  
pp. 535-544
Author(s):  
Puryani Puryani ◽  
Sutrisno Sutrisno
Keyword(s):  
Decision Making ◽  
Production Costs ◽  
Multi Criteria Decision Making ◽  
Objective Functions ◽  
Step Method ◽  
Trade Off ◽  
Use Of Resources ◽  
Beverage Industry ◽  
Decision Making Problem ◽  
Decision Making Model

The packaged beverage industry has grown rapidly. Now a packaged beverage industry has emerged with various brands. The emergence of many competitors, requires the packaged beverage industry to implement a strategy to survive and win the competition. One of these strategies is to make savings and maximize the use of resources. The savings made are contradictory problems with maximizing the use of resources, this is due to the use of resources, for example, the use of machines will require operational costs, even though the industry must make savings.The problem above is a multi-criteria decision making problem. Multi-criteria decision-making problems are characterized by conflicting goals on a problem to be resolved. The meaning of conflicting goals is that optimizing the value of one objective function will reduce the level of optimality of the other objective functions. One of the savings in an industry is to minimize production costs, while maximizing the use of resources, one of which can be done by maximizing machine utility. To increase the competitiveness of the packaged beverage industry, it is necessary to minimize production costs while maximizing machine utility. This can be done if the company's management implements policies to optimally achieve the two contradictory company goals. Optimization of contradictory or conflicting company goals is a multi-criteria decision-making problem. To facilitate company management in making decisions on conflicting company goals, it is necessary to develop a multi-criteria decision-making model. In this study, a multi-criteria decision-making model will be developed to optimize two conflicting objectives, namely minimizing production costs and maximizing machine utility, with limitations in the form of company resources to achieve these goals. To optimize the multi-criteria decision-making model developed using the step method. The advantage of this method when compared to other multi-criteria decision-making techniques is the iteration in determining the value of the trade-off (simultaneous search for optimal values of two conflicting objective functions). If the determination of the value of the trade-off in an iteration does not satisfy the decision maker, then the alternative value of the trade-off can be found by doing the next iteration. Optimization of the multi-criteria decision-making model will result in minimal production costs and maximum machine utility. The multi-criteria decision-making model that was developed also resulted in a production plan that was in accordance with the number of consumer demands. In addition, the production planning carried out will also be in accordance with the capacity of the warehouse, because the model developed takes into account the capacity of the warehouse.

Applying the Multi-Criteria Decision Making Model for Ranking Commercial Banks: The Case of Vietnam

2019 ◽  
pp. 125-133
Author(s):  
Duong Truong Thi Thuy ◽  
Anh Pham Thi Hoang
Keyword(s):  
Decision Making ◽  
Commercial Banks ◽  
Decision Model ◽  
Business Models ◽  
Multi Criteria Decision Making ◽  
Ideal Solution ◽  
Topsis Method ◽  
Decision Making Model

Banking has always played an important role in the economy because of its effects on individuals as well as on the economy. In the process of renovation and modernization of the country, the system of commercial banks has changed dramatically. Business models and services have become more diversified. Therefore, the performance of commercial banks is always attracting the attention of managers, supervisors, banks and customers. Bank ranking can be viewed as a multi-criteria decision model. This article uses the technique for order of preference by similarity to ideal solution (TOPSIS) method to rank some commercial banks in Vietnam.

scholarly journals Multi-criteria decision-making model for supporting manufacturing settlements location in Africa after COVID-19

2021 ◽  
Vol 13 ◽  
pp. 184797902110233
Author(s):  
Stefania Bait ◽  
Serena Marino Lauria ◽  
Massimiliano M. Schiraldi
Keyword(s):  
Decision Making ◽  
Value Chain ◽  
Multinational Enterprises ◽  
Value Added ◽  
Plant Performance ◽  
Multi Criteria Decision Making ◽  
African Countries ◽  
Analytic Hierarchy ◽  
Location Selection ◽  
Decision Making Model

The COVID-19 emergency is affecting manufacturing industries all over the world. Notably, it has generated several issues in the products’ supply and the global value chain in African countries. Besides this, Africa’s manufacturing value-added rate grew only 1.5 since 2018, and the foreign direct investment (FDI) from multinational enterprises (MNEs) remains very low due to high-risk factors. Most of these factors are linked to a non-optimized location selection that can adversely affect plant performance. For these reasons, supporting decision-makers in selecting the suitable country location in Africa is crucial, both for contributing to countries’ growth and companies’ performance. This research aims at presenting a comprehensive multi-criteria decision-making model (MCDM) to be used by MNEs to evaluate the best countries to develop new manufacturing settlements, highlighting the criteria that COVID-19 has impacted. Thus, it has affected countries’ performance, impacting the plant location selection choices. A combination of the Analytic Hierarchy Process (AHP) and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) methods have also been used for comparative analysis. The criteria used in the proposed approach have been validated with a panel of MNEs experts.

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