Engineering Commons^™

Fuzzy Multicriteria Decision-Making Model For Time-Cost-Risk Trade-Off Optimization In Construction Projects, M. Ammar Alzarrad, Gary P. Moynihan, Muhammad T. Hatamleh, Siyuan Song

Faculty Publications

As is often the case in project scheduling, when the project duration is shortened to decrease total cost, the total float is lost resulting in added critical or nearly critical activities. This, in turn, results in decreasing the probability of completing the project on time and increases the risk of schedule delays. To solve this problem, this research developed a fuzzy multicriteria decision-making (FMCDM) model. The objective of this model is to help project managers improve their decisions regarding time-cost-risk trade-offs (TCRTO) in construction projects. In this model, an optimization algorithm based on fuzzy logic and analytic hierarchy process (AHP) …