Liu, L; Burns, S A and Feng, C W (1995) Construction time-cost trade-off analysis using LP/IP hybrid method. Journal of Construction Engineering and Management, 121(4), pp. 446-454. ISSN 0733-9364
Abstract
Construction planners must select appropriate resources, including crew size, equipment, methods, and technologies, to perform the tasks of a construction project. In general, there is a trade-off between time and cost to complete a task-the less expensive the resources, the longer it takes. Using critical-pathmethod techniques, the overall project cost can be reduced by using less expensive resources for noncritical activities without impacting the duration. Furthermore planners usually need to adjust the selection of resources in order to shorten or lengthen the project duration. Finding optimal decisions is difficult and time-consuming considering the numbers of permutations involved. For example, a critical-path-method network with only eight activities, each with two options, will have 256 (28) alternatives. Exhaustive enumeration is not economically feasible even with very fast computers. This paper presents a new algorithm using linear and integer programming to efficiently obtain optimal resource selections that optimize time and cost of a construction project.
| Item Type: | Article |
|---|---|
| Index terms: | planner, option, construction project, project cost, duration, construction time, integer programming, construction planner |
| Subjects: | economics, profession, algorithms, decision analysis, practitioner, production management, project controls |
| Topics: | Roles and Professions, Risk Management, Time Control, Project Management, Digital Applications, Cost Management |
| Descriptive scope: | 2 PC |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here