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Construction Engineering

2013

Time-cost tradeoff

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Full-Text Articles in Other Engineering

Multi-Objective Time-Cost Optimization Using Cobb-Douglas Production Function And Hybrid Genetic Algorithm, Zhigang Shen, Ashkan Hassani, Qian Shi Apr 2013

Multi-Objective Time-Cost Optimization Using Cobb-Douglas Production Function And Hybrid Genetic Algorithm, Zhigang Shen, Ashkan Hassani, Qian Shi

Architectural Engineering -- Faculty Publications

Existing research on construction time-cost tradeoff issues rarely explore the origin of the crashing cost. Crashing cost function was either assumed without much justification, or came from historical data of some real projects. As a result the conclusions of the papers can hardly be used to guide allocations of labor and equipment resources respectively. The authors believe Cobb-Douglas function provides a much-needed piece to modeling the cost functions in the construction time-cost tradeoff problem during the crashing process. We believe this new perspective fills a gap of existing time-cost tradeoff research by considering project duration, labor and equipment cost as ...