Assessing the Time-Cost Trade-Off of Construction Projects

2011 ◽  
Vol 243-249 ◽  
pp. 6394-6399
Author(s):  
Wei Lo ◽  
Ming En Kuo
Keyword(s):  
Construction Projects ◽  
Resource Efficiency ◽  
Linear Quadratic ◽  
Trade Off ◽  
Project Completion ◽  
Proposed Model ◽  
Project Costs ◽  
Adjustable Range ◽  
Completion Times

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.

scholarly journals PERCEPATAN WAKTU PELAKSANAAN PEKERJAAN KONSTRUKSI DENGAN METODE CPM DAN TCTO

2019 ◽  
Vol 11 (1) ◽  
pp. 33-40
Author(s):  
Cut Zukhrina Oktaviani ◽  
Ibnu Abbas Majid ◽  
Risdiawati Risdiawati
Keyword(s):  
Completion Time ◽  
Construction Projects ◽  
Critical Path ◽  
Minimum Cost ◽  
Time Cost ◽  
Trade Off ◽  
Project Duration ◽  
Project Completion ◽  
Project Costs ◽  
Total Project

Construction delays are a common and major concern in most construction projects. Construction project delay can indirectly affect of project performance. Delay resolve method is to schedule crashing with various methods. This crashing planning is done by combining the Critical Path Method (CPM) and Time-Cost Trade-Off (TCTO) method for the minimum cost in crash duration calculation. Project A data is used to be a case studi in crash duration calculation and costs increase. Rescheduling with CPM result project completion time 120 days and after crashing project duration becomes 94 days, there was a reduction 26 days project completion time. Crashing programme are do to 18 activities from 30 critical activies rescheduling with CPM result. Total project costs changes is Rp. 19.923.466,- due working time addition (overtime) to reduce project time with Time Cost Trade Off method. Normal condition project costs is Rp. 985,171,182.52 and after duration crash becomes Rp. 1,005,094,648, -.

scholarly journals Multi-dimensional optimization model for schedule fast-tracking without over-stressing construction workers

2019 ◽  
Vol 46 (12) ◽  
pp. 1160-1173 ◽  
Author(s):  
Zinab Abuwarda ◽  
Tarek Hegazy
Keyword(s):  
Construction Projects ◽  
Construction Workers ◽  
Superior Performance ◽  
Schedule Optimization ◽  
Fast Tracking ◽  
Schedule Compression ◽  
Complex Projects ◽  
Proposed Model ◽  
Technique Comparison

Fast-tracking is an important process to speed the delivery of construction projects. To support optimum fast-tracking decisions, this paper introduces a generic schedule optimization framework that integrates four schedule acceleration dimensions: linear activity crashing; discrete activity modes of execution; alternative network paths; and flexible activity overlapping. Because excessive schedule compression can lead to space congestion and overstressed workers, the optimization formulation uses specific variables and constraints to prevent simultaneous use of overlapping and crashing at the same activity segment. To handle complex projects with a variety of milestones, resource limits, and constraints, the framework has been implemented using the constraint programming (CP) technique. Comparison with a literature case study and further experimentation demonstrated the flexibility and superior performance of the proposed model. The novelty of the model stems from its integrated multi-dimensional formulation, its CP engine, and its ability to provide alternative fast-track schedules to strictly constrained projects without overstressing the construction workers.

scholarly journals Conflicts and Delays in Mega Construction Projects – Kuwait International Airport Cargo City – Research

2019 ◽  
Vol 8 (10) ◽  
pp. 1575-1588
Keyword(s):  
Construction Projects ◽  
Negative Impact ◽  
Effective Utilization ◽  
International Airport ◽  
Project Costs ◽  
Work Completion ◽  
Management Conflicts ◽  
Poor Management ◽  
Project Delays

Mega construction projects in general require a lot of planning in terms of land acquisition, estimating material cost, human resources, financials, safety and many more. It is a common scenario with delays occurring in such mega projects attributing to increased project costs, delays in work completion. It leads to creating a negative impact on the prospects of the effective utilization of the project output in terms of space, facility and resources to commence work at that location. This study aims to identify the factors that could potentially contribute to project delays and possible methods of resolving the conflicts that have aroused. A case study on Kuwait International Airport Cargo City was conducted quantitatively as well as qualitatively. It is learnt that management conflicts have a major impact on creating project delays, due to poor management, lack of effective communication and ineffective utilization of resources.

scholarly journals A Practical Method for Assessing the Energy Consumption & CO2 Emissions of Mass Haulers

2016 ◽  
Author(s):  
Hassanean Jassim ◽  
Weizhuo Lu ◽  
Thomas Olofsson
Keyword(s):  
Energy Consumption ◽  
Co2 Emissions ◽  
Environmental Performance ◽  
Construction Projects ◽  
Practical Method ◽  
Project Planning ◽  
Planning Program ◽  
Detailed Model ◽  
Proposed Model

Mass hauling operations play central roles in construction projects. They typically use many haulers that consume large amounts of energy and emit significant quantities of CO2. However, practical methods for estimating the energy consumption and CO2 emissions of such operations during project planning are lacking. This paper presents a detailed model for estimating the energy consumption and CO2 emissions of mass haulers that integrates the mass hauling plan with a set of predictive equations. The mass hauling plan is generated using a planning program such as DynaRoad in conjunction with data on the productivity of selected haulers and the amount of material to be hauled during cutting, filling, borrowing, and disposal operations. This plan is then used as input for estimating the energy consumption and CO2 emissions of the selected hauling fleet. The proposed model will help planners to assess the energy and environmental performance of mass hauling plans, and to select hauler and fleet configurations that will minimize these quantities. The model was applied in a case study, demonstrating that it can reliably predict energy consumption, CO2 emissions, and hauler productivity as functions of the hauling distance for individual haulers and entire hauling fleets.

A novel model for risk management of outsourced construction projects using decision-making methods: a case study

2020 ◽  
Vol 10 (2) ◽  
pp. 97-123 ◽  
Author(s):  
Amin Mahmoudi ◽  
Mehdi Abbasi ◽  
Xiaopeng Deng ◽  
Muhammad Ikram ◽  
Salman Yeganeh
Keyword(s):  
Decision Making ◽  
Construction Projects ◽  
Project Managers ◽  
Analytic Hierarchy ◽  
Suitable Alternative ◽  
Content Type ◽  
Proposed Model ◽  
The Cost ◽  
First Time

PurposeSelecting a suitable contract to outsource construction projects is an ongoing concern for project managers and organizational directors. This study aims to propose a comprehensive model to manage the risks of outsourced construction project contracts.Design/methodology/approachTo employ the proposed model, firstly, the types of contracts and risks in the organization should be identified, then, to prioritize the contracts, the identified risks are considered as criteria. After receiving the experts' opinions, the best–worst method (BWM) integrated with grey relation analysis (GRA) method was used to prioritize the contracts. BWM and GRA are multi-criteria decision-making methods with different approaches and applications. In the current study, BWM has been employed to calculate the weights of criteria because it has better performance than other methods such as the analytic hierarchy process (AHP). After calculating the weights of criteria, the GRA method has been utilized for ranking the alternatives.FindingsAccording to the results obtained from the case study, the cost plus award fee contract is the most suitable alternative for outsourcing construction projects. The proposed methodology can be practically applied through different types of the projects such as construction or “engineering, procurement and construction”.Originality/valueTo the best of our knowledge, this is the first time a conceptual model has been proposed to select an appropriate contract for construction projects. Also, for the first time, the BWM integrated with GRA method has been used to prioritize project contracts based on the potential risks. The proposed model can contribute to project managers for selecting a suitable contract with the least risk in construction projects.

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.

Optimizing the cost, LEED credits, and time trade-offs using a genetic algorithmic model

2020 ◽  
Vol 47 (5) ◽  
pp. 596-608
Author(s):  
Shantanu Kumar ◽  
Mohammed S. Hashem M. Mehany
Keyword(s):  
Construction Projects ◽  
Time Budget ◽  
Study Data ◽  
Trade Off ◽  
Trade Offs ◽  
Dataset Size ◽  
Preliminary Study ◽  
Algorithmic Model ◽  
The Cost

Over the last century, the complexity of construction projects has increased exponentially and its factors (e.g., time, budget, and quality) have generated complicated trade-offs. This research focuses on the trade-off between time, cost, and sustainability represented in Leadership in Energy and Environmental Design (LEED) credits (particularly materials and resources). The research is broken into preliminary and validation studies wherein the preliminary study uses an exhaustive search to find the optimized solution. In the validation case study, dataset size increased exponentially, and it became computationally incompatible to find the optimized solution. Genetic algorithm (GA) is used to find the optimized solution based on user-defined priority factors. Usage of GA is validated using the preliminary study data and then applied to the validation study data. A trade-off is seen between the priority factors and the optimized solution. The optimization model is successful in minimizing the time and cost, concurrently maximizing the points associated with LEED credits for a validation case study.

scholarly journals Decision Tree and AHP Methods Application for Projects Assessment: A Case Study

2021 ◽  
Vol 13 (10) ◽  
pp. 5502
Author(s):  
Augustinas Maceika ◽  
Andrej Bugajev ◽  
Olga Regina Šostak ◽  
Tatjana Vilutienė
Keyword(s):  
Decision Making ◽  
Decision Tree ◽  
Construction Projects ◽  
Decision Making Process ◽  
Analytic Hierarchy ◽  
Model Stability ◽  
Proposed Model ◽  
Tree Methods ◽  
Hierarchy Process

This research is dedicated to the modelling of decision process occurring during the implementation of construction projects. Recent studies generally do not assess the robustness of the decisions regarding the possible changes during the construction project implementation. However, such an assessment might increase the reliability of the decision-making process. We addressed this gap through a new model that combines the decision-making process modelling with the AHP method and includes the analysis of model stability concerning stakeholders’ behaviour. We used the Analytic Hierarchy Process (AHP) and Decision tree methods to model the decision-making process. The proposed model was validated on a case study of multiple construction projects. The assessment was performed from individual investor’s and independent expert’s perspectives. The criteria for the assessment were selected according to the principles of sustainability. We performed the sensitivity analysis, making it possible to assess the possible changes of the decisions depending on the potential patterns of the decision-makers’ behaviour. The results of the study show that, sometimes, small fluctuations in the project factors affect the project selection indicating the possible lack of the robustness of the project decisions.

scholarly journals Case Study of Delay Construction Projects in Bidau Dili Timor-Leste Bridge

2020 ◽  
Vol 3 (1) ◽  
pp. 20-28
Author(s):  
Eliseu Soares Parerira Amaral
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Contract Law ◽  
Project Work ◽  
Bridge Construction ◽  
Project Completion ◽  
Timor Leste ◽  
Clear Identification ◽  
The Cost

The process of implementing development projects has many obstacles that were not predicted beforehand resulting in delays in project completion which have an impact on increasing the cost of project implementation. sometimes the project is not completed in accordance with a predetermined schedule that may be caused by certain factors. Various ways can be done to anticipate and be a solution to the delay. The purpose of the study is to analyze the factors that influence delays in bridge construction projects in Bidau Timor - Leste and how to anticipate delays in project work. The research method used is descriptive method by observation and direct interviews. So that there are several dominant factors that influence the delay of the Bidau Timor-Leste bridge construction project, including the types of weather, material and financial. To anticipate delays in construction projects, it is necessary to do a work contract in accordance with the contract law in which all matters are regulated, so that the anticipation, mitigation and accountability are clear. Identification of the application of overcoming delays in the Bidau Timor-Leste bridge construction project if viewed from the side of the existing contract there are still shortcomings, so it needs to be improved in terms of working contract documents and refer to the contract law.

scholarly journals Risk Determination, Prioritization, and Classifying in Construction Project Case Study: Gharb Tehran Commercial-Administrative Complex

2015 ◽  
Vol 2015 ◽  
pp. 1-10 ◽  
Author(s):  
Azadeh Sohrabinejad ◽  
Mehdi Rahimi
Keyword(s):  
Construction Projects ◽  
Construction Project ◽  
Fuzzy Topsis ◽  
Fuzzy Dematel ◽  
Multiple Risks ◽  
Proposed Model ◽  
Library Studies ◽  
Type Size ◽  
The Subject

Construction projects play an important role in infrastructure projects in developing countries. According to type, size, and complexity of the project, the number and importance of each risk could be different and many projects cannot reach the project goals due to exposure to multiple risks. Many papers have been published on the subject of risk management in construction projects; unfortunately most of them have not been implemented in practical conditions. The aim of this study is to identify and prioritize risks in construction projects. The classical approach used probability and impact for risk assessment, but these criteria do not sufficiently address all aspects of projects risks and there might be a relationship between different criteria. This study proposes the hierarchical dependencies between criteria. A case study of construction project is presented to illustrate performance and usage of the proposed model. Utilizing library studies and interview with experts, managers, and specialists, decision criteria were identified through brain storming. Risks were categorized by the experts into eleven risks. Important risks were evaluated based on the fuzzy ANP, fuzzy DEMATEL, and fuzzy TOPSIS methods. The proposed model is more suitable than the traditional decision-making methods in prioritizing risk concerning cost, time, and quality.

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