Alotaibi, M; El-Rayes, K and Altuwaim, A (2021) Optimizing the renovation scheduling of leased residential buildings to minimize total project cost. Journal of Construction Engineering and Management, 147(7): 2063, ISSN 0733-9364
Abstract
This paper presents the development of a novel model for optimizing the scheduling of renovation projects for leased residential buildings. The computations of the developed model are executed using an optimization module that identifies an optimal renovation schedule that minimizes total renovation cost, a scheduling module that calculates the start and finish dates of each activity in all residential units, and a cost module that estimates the total renovation cost of each generated solution in the optimization module. A real-life case study of a residential renovation project is analyzed to compare the generated results by the model to those provided by two available models and three current industry practices. The outcome of this analysis confirms that the model was able to reduce the total renovation cost of the case study by 3.6%-4% compared to available models/practices. Furthermore, the results of the case study clearly illustrate the novel contributions of the model and its unique capability of complying with all relevant constraints, including the unit availability date, identifying an optimal project start date and an optimal unit renovation sequence for all leased residential units and minimizing the total renovation cost of leased residential buildings.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | genetic algorithms; leased residential buildings; optimization; renovation projects; rental income; scheduling; unit availability date; unit renovation sequence |
| Index terms: | computation, estimate, income, genetic algorithm, residential building, project cost, case study, module, renovation, scheduling |
| Subjects: | operations research, renovation and retrofit, data collection methods, economics, algorithms, economic analysis, computational methods, construction type, financial and cost management, architectural elements |
| Topics: | Digital Applications, Research Practice, Design Practice, Time Control, Cost Management, Business Strategy, Construction Technology, Engineering Principles |
| Descriptive scope: | 3 PCE |
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