Hegazy, T and Petzold, K (2003) Genetic optimization for dynamic project control. Journal of Construction Engineering and Management, 129(4), pp. 396-404. ISSN 0733-9364
Abstract
This paper presents a comprehensive model for cost optimization and dynamic project control. The model incorporates an integrated formulation for estimating, scheduling, resource management, and cash-flow analysis. The basic premise of the model is to allocate optional construction methods for each activity, varying from cheap and lengthy to expensive and short. Using a genetic algorithms procedure for total cost optimization, the model considers the actual progress of activities and optimizes the schedule of remaining ones (by determining the best combination of construction methods) so that project constraints are respected. The model, as such, is usable not only at the planning stage but also during construction. A description of the model and its application on an example project are provided in this paper. In addition, the paper introduces the recently emerged critical chain method for project control and describes an effort to incorporate some of its features into the earned-value analysis used in the proposed model.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | algorithms; computer applications; optimization; project management |
| Index terms: | project constraint, project management, genetic algorithm, value analysis, estimating, project control, scheduling, resource management, computer application, construction method, cost optimization |
| Subjects: | software systems, operations research, financial analysis, financial and cost management, algorithms, economics, project management theory and practice, building construction, control systems |
| Topics: | Site Management, Time Control, Cost Management, Digital Applications, Project Management |
| Descriptive scope: | 3 PCA |
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