A multi-objective genetic algorithm model for time-cost trade-off analysis of construction projects

Abstract

Time-cost trade-off analysis is one of the most important aspects of construction project planning and control. There are trade-offs between time and cost to complete the activities of a project. Existing methods for time-cost trade-off analysis are not efficient enough to solve large-scale CPM networks (hundreds of activities or more). This paper presents an advanced and robust multi-objective genetic algorithm model for the time-cost trade-off analysis of construction projects. The model allows construction planners to generate and evaluate optimal/near-optimal trade-offs between project durations and total costs. The computations in the present model are organized in three major modules. A scheduling module that develops practical schedules for construction projects. A cost module that computes the project direct, indirect, and total costs. A multi-objective module that searches for and identifies optimal/near optimal tradeoffs between project duration and total cost. An illustrative example is presented to illustrate the use of the model and to demonstrate its capabilities in the time-cost trade-off analysis of construction projects.