Yang, I T (2007) Using elitist particle swarm optimization to facilitate bicriterion time-cost trade-off analysis. Journal of Construction Engineering and Management, 133(7), pp. 498-505. ISSN 0733-9364
Abstract
The present study develops a new optimization algorithm to find the complete time-cost profile (Pareto front) over a set of feasible project durations, i.e., it solves the time-cost trade-off problem. To improve existing methods, the proposed algorithm aims to achieve three goals: (1) to obtain the entire Pareto front in a single run; (2) to be insensitive to the scales of time and cost; and (3) to treat all existing types of activity time-cost functions, such as linear, nonlinear, discrete, discontinuous, and a hybrid of the above. The proposed algorithm modifies a population-based search procedure, particle swarm optimization, by adopting an elite archiving scheme to store nondominated solutions and by aptly using members of the archive to direct further search. Through a fast food outlet example, the proposed algorithm is shown effective and efficient in conducting advanced bicriterion time-cost analysis. Future applications of the proposed algorithm are suggested in the conclusion.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | algorithms; computer aided scheduling; multiple objective analysis; optimization |
| Index terms: | cost analysis, scheduling, optimization algorithm, population, duration, time-cost trade-off |
| Subjects: | project controls, demography, quantity surveying, algorithms, operations research, financial and cost management |
| Topics: | Cost Management, Risk Management, Urban Studies, Digital Applications, Time Control |
| Descriptive scope: | 2 PC |
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