Incentive genetic algorithm based time–cost trade-off analysis across a build–operate–transfer project concession period

2011 ◽  
Vol 38 (2) ◽  
pp. 166-174 ◽  
Author(s):  
Hongxian Li ◽  
Mohamed Al-Hussein ◽  
Zhen Lei
Keyword(s):  
Genetic Algorithm ◽  
Sensitivity Analysis ◽  
Genetic Algorithms ◽  
Construction Cost ◽  
Methodological Framework ◽  
Time Cost ◽  
Trade Off ◽  
Operation Period ◽  
Concession Period ◽  
New Infrastructure

The build–operate–transfer (BOT) scheme is widely applied to finance new infrastructure projects with private sector (concessionaire) participation. For a predetermined concession period (CP), assuming that CP consists of the construction duration (CD) and the concession operation period (OP), different construction durations result in different profits for the concessionaire. Meanwhile, according to the time–cost trade-off (TCT) principle, shortening the CD increases the construction cost; shortening the CD also prolongs the OP, which could increase the total benefit of BOT projects. Hence, how to arrange construction reasonably to maximize the whole profit is a key issue for a concessionary. This paper proposes a methodological framework including optimization, sensitivity analysis, and improved (incentive) genetic algorithms (GA) for BOT projects. Through the proposed methodological framework, the reasonable construction duration of a BOT project can be obtained. A numerical example is used to verify the proposed methodology.

A TIME-COST TRADE-OFF MODEL WITH RESOURCE CONSIDERATION USING GENETIC ALGORITHM

1997 ◽  
Vol 14 (4) ◽  
pp. 291-311 ◽  
Author(s):  
D. K. H. CHUA ◽  
W. T. CHAN ◽  
K. GOVINDAN
Keyword(s):  
Genetic Algorithm ◽  
Time Cost ◽  
Trade Off

scholarly journals Sub-activity Time-Cost Trade-off Model of Building Structural Beam on the Projects in the North Aceh Region

2019 ◽  
Vol 8 (2) ◽  
pp. 86-94
Author(s):  
Fachrurrazi Fachrurrazi ◽  
Abdullah Abdullah ◽  
Yuwaldi Away ◽  
Teuku Budi Aulia
Keyword(s):  
Construction Cost ◽  
Specific Model ◽  
Descriptive Statistics ◽  
Time Cost ◽  
Activity Time ◽  
Trade Off ◽  
The North ◽  
Activity Duration ◽  
Normal Duration ◽  
Cost Plan

Problems for both delayed and accelerated activities in scheduling are common in most projects. This problem can implicate on the additional construction cost with different trends as a specific model. A model can provide valuable information to project acceleration judgement. This research aims to develop the TCTO sub-activity model of formwork, rebar work, and concrete work of the building structural beam on the projects in the North Aceh region. We have collected 33 data sourced from the project cost plan report and respondents judgment in the reviewed area. Descriptive statistics and the regression analysis are used to generate the TCTO model. The results show that the activity duration of the structural beam as broken down into sub-activities of formwork, rebar work and concrete work can be compressed until reaching 40%, 50%, and 40% of its normal duration, respectively. The additional cost of the compressed duration for each sub-activity shows the direct incremental cost per days of 3.67%, 3.63%, and 4.27% of its normal cost. Meanwhile, the possible crash cost of each the sub-activities are 122%, 118.15%, 125.61%, respectively. The models practically represent a linear model in the same daily pattern acceleration.

Optimization of construction time-cost trade-off analysis using genetic algorithms

1999 ◽  
Vol 26 (6) ◽  
pp. 685-697 ◽  
Author(s):  
Tarek Hegazy
Keyword(s):  
Genetic Algorithms ◽  
Optimization Problems ◽  
Computer Application ◽  
Time Cost ◽  
Construction Time ◽  
Trade Off ◽  
Project Duration ◽  
Combinatorial Optimization Problems ◽  
Management Procedures ◽  
Optimization Search

In the management of a construction project, the project duration can often be compressed by accelerating some of its activities at an additional expense. This is the so-called time-cost trade-off (TCT) problem, which has been studied extensively in the project management literature. TCT decisions, however, are complex and require planners to select appropriate resources for each project task, including crew size, equipment, methods, and technology. As combinatorial optimization problems, finding optimal decisions is difficult and time consuming considering the number of possible permutations involved. In this paper, a practical model for TCT optimization is developed using the principle of genetic algorithms (GAs). With its robust optimization search, the GAs model minimizes the total project cost as an objective function and accounts for project-specific constraints on time and cost. To maximize its benefits, the model has been implemented as a VBA macro program. This automates TCT analysis and combines it with standard resource-management procedures. Details of the proposed TCT model are described and several experiments conducted to demonstrate its benefits. The developments made in this paper provide guidelines for designing and implementing practical GA applications in the civil engineering domain.Key words: computer application, time-cost trade-off, construction management, genetic algorithms, and optimization.

scholarly journals The Effect of Price Discount on Time-Cost Trade-off Problem Using Genetic Algorithm

Engineering ◽  
2009 ◽  
Vol 01 (01) ◽  
pp. 33-40 ◽  
Author(s):  
Hadi Mokhtari ◽  
Abdollah Aghaie
Keyword(s):  
Genetic Algorithm ◽  
Time Cost ◽  
Price Discount ◽  
Trade Off

scholarly journals Fuzzy Multi-Objective Genetic Algorithm Based Resource Constrained Time-Cost Trade-Off Model under Uncertain Environment

2021 ◽  
Vol 9 (8) ◽  
pp. 1126-1133
Author(s):  
Ashish Sharma
Keyword(s):  
Genetic Algorithm ◽  
Fuzzy Logic ◽  
Construction Projects ◽  
Risk Level ◽  
Pareto Optimal ◽  
Time Cost ◽  
Trade Off ◽  
Multi Objective ◽  
Multi Objective Genetic Algorithm

Abstract: In every construction project, the time and cost are the two most important objectives/factors to be considered. Clients and contractors should strive to optimize the project time and cost to maximize the return. Resources are also one of the major constraints of the construction projects. In recent years, several studies have been conducted to optimize the time and cost of project under constraint conditions of resources. Since most studies assume the time and cost as deterministic parameters, uncertainties should be considered in estimating the time and cost of the project's activities when minimizing the duration and cost of the project. For this purpose, this paper embeds the fuzzy logic to handle the uncertainties in estimating the time and cost. Besides, the multi-objective genetic algorithm (MOGA) is used to develop the resourceconstrained time-cost trade-off model. Alpha-cut approach is utilized to define the accepted risk level of decision maker. The efficiency of the proposed model is demonstrated through solvinga case study project of highway construction. The results of case study project provide a set of Pareto-optimal solutions. The developed model encourage the decision making process by choosing specified risk levels and utilizing the related Pareto-front. Keywords: Construction projects, time-cost trade-off, uncertainties, fuzzy logic, MOGA,Pareto-optimal solution.

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