Stochastic construction time-cost trade-off analysis

Chung Wei Feng, Liang Liu, Scott A. Burns

研究成果: Article同行評審

73 引文 斯高帕斯(Scopus)


Traditional time-cost trade-off analysis assumes that the time and cost of an option within an activity are deterministic. However, in reality the time and cost are uncertain. Therefore, in analyzing the time-cost trade-off problem, uncertainties should be considered when minimizing project duration or cost. Simulation techniques are useful for analyzing stochastic effects, but a general strategy/algorithm is needed to guide the analysis to obtain optimal solutions. This paper presents a hybrid approach that combines simulation techniques and genetic algorithms to solve the time-cost trade-off problem under uncertainty. The results show that genetic algorithms can be integrated with simulation techniques to provide an efficient and practical means of obtaining optimal project schedules while assessing the associated risks in terms of time and cost of a construction project. This new approach provides construction engineers with a new way of analyzing construction time/cost decisions in a more realistic manner. Historical time/cost data and available options to complete a project can be modeled, so that construction engineers can identify the best strategies to take to complete the project at minimum time and cost. Also, what-if scenarios can be explored to decide the desired/optimal time and/or cost in planning and executing project activities.

頁(從 - 到)117-126
期刊Journal of Computing in Civil Engineering
出版狀態Published - 2000 4月

All Science Journal Classification (ASJC) codes

  • 土木與結構工程
  • 電腦科學應用


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