An Innovative Time-Cost-Quality Tradeoff Modeling of Building Construction Project Based on Resource Allocation

Abstract

The time, quality, and cost are three important but contradictive objectives in a building construction project. It is a tough challenge for project managers to optimize them since they are different parameters. This paper presents a time-cost-quality optimization model that enables managers to optimize multiobjectives. The model is from the project breakdown structure method where task resources in a construction project are divided into a series of activities and further into construction labors, materials, equipment, and administration. The resources utilized in a construction activity would eventually determine its construction time, cost, and quality, and a complex time-cost-quality trade-off model is finally generated based on correlations between construction activities. A genetic algorithm tool is applied in the model to solve the comprehensive nonlinear time-cost-quality problems. Building of a three-storey house is an example to illustrate the implementation of the model, demonstrate its advantages in optimizing trade-off of construction time, cost, and quality, and help make a winning decision in construction practices. The computational time-cost-quality curves in visual graphics from the case study prove traditional cost-time assumptions reasonable and also prove this time-cost-quality trade-off model sophisticated.

Time variability management and trade-off analysis of quality, productivity, and maintenance efficiency

“…This approach considers a holistic view of the organization, which is different from existing improvement philosophies that include systemic relations between processes but do not use, for example, analytical tools to perform a holistic analysis (Sartal et al, 2017). Thus, the decision framework has the common parameters of each of the performance dimensions (Arinez et al, 2010;Robson et al, 2013;Weinstein and Chung, 1999;Hu and He, 2014) and supports the conceptual model shown in Figure 2. The proposed framework includes the concepts of TVM and trade-off analysis into a realtime data analysis by integrating a system for assisting operators in the execution of tasks, as defined in Figure 3.…”

Project crashing to solve Time-Cost Trade-Off

“…To encapsulate, Project Time Cost Trade-off Problem can be formally stated as follows: given a network with a lot of activities by their sequences, durations, costs, a general status is determined by each activity according to at least one of the following objectives: minimize the project duration and minimize budget. [5] Considering the fact that the construction of this residential tower is subject to a large number of exogenous factors, mostly economical & beyond the scope of the top management, it was decided to focus this research on only the RCC works of the residential tower A in sector R3. The challenge is of bringing the project on schedule and even finishing early.…”

Identification of effective factors involved in reducing the time for building projects by AHP fuzzy method (Case study of Tehran Municipality projects)

“…The third is the resources that are examinedas financial flows, capacity, and consumption. In a paper published in 2014, Van Faho and Jinova Hay [65] presented a cost-quality balance model for building projects with a resource allocation approach, although in terms of mathematical relationships, it facilitates timeconsuming work in the projects, but in practice, especially in civil engineering projects that are operating at a large field, it is simply not possible, or that it is not easy to estimate the time of an activity that has highly complex in terms of execution. For this purpose, the two authors have used genetic algorithm method for solving the model related totheir three-storey building, which consists of only 20 activities.…”