Gwak, H S; Son, S H; Park, Y J and Lee, D E (2016) Exact time-cost tradeoff analysis in concurrency-based scheduling. Journal of Construction Engineering and Management, 142(10): 04016054, ISSN 0733-9364
Abstract
A construction project can be accelerated by overlapping critical activities. This paper presents a computational method called exact time-cost tradeoff (ETCT) in concurrency-based scheduling that identifies exact global overlaps between critical activities. It calculates the rework cost slope and amount by integrating the activities' concurrency attributes, identifies the exact global solution, and computes the probability to complete a project within the project completion time (PCT) and/or the project completion cost (PCC). The study is of value to project schedulers because ETCT identifies the exact global solution (i.e., the set of activities to be overlapped and the exact overlap rates between these activities) expeditiously, and establishes a compressed schedule that satisfies a project's budget and duration constraints. This is also relevant to researchers in that it clearly defines the computational formula to compute the exact solution in detail and facilitates a comparison of the outcome of a schedule under different project objectives, such as minimizing project completion duration and/or project completion cost. The usability and validity of the computational methods was confirmed by performing two test cases.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | activity overlapping; cost and schedule; optimization; rework costslope; time-cost tradeoff |
| Index terms: | slope, duration, test case, tradeoff, rework, construction project, validity, completion time, usability, scheduling, scheduler |
| Subjects: | operations research, user-centered design, geotechnical engineering, professional practice, evaluation and assessment methods, operations management, decision analysis, production management, practitioner, project controls |
| Topics: | Risk Management, Research Practice, Roles and Professions, Time Control, Engineering Principles, Project Management, Design Practice |
| 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