Time-Profit Trade-Off Analysis for Construction Projects
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Volume 135, Issue 8
Abstract
This paper presents a multiobjective optimization model that provides new and unique capabilities including generating and evaluating optimal/near-optimal construction resource utilization and scheduling plans that simultaneously minimize the time and maximize the profit of construction projects. The computations in the present model are organized in three major modules: (1) a scheduling module that develops practical schedules for construction projects; (2) a profit module that computes the project profit; and (3) a multiobjective module that searches for and identifies optimal/near optimal trade-offs between project time and profit. A large-scale construction project is analyzed to illustrate the use of the model and to demonstrate its capabilities in generating and visualizing optimal trade-offs between construction time and profit.
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Acknowledgments
This material is based upon work supported by the Qatar National Research Fund under Award No. UNSPECIFIEDQNRF-NPRP26-6-7-2. Any opinions, findings, and conclusions or recommendations expressed in this publication are those of the authors and do not necessarily reflect the views of the Qatar National Research Fund.
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Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 135 • Issue 8 • August 2009
Pages: 718 - 725
Copyright
© 2009 ASCE.
History
Received: Dec 15, 2008
Accepted: Jan 22, 2009
Published online: Apr 30, 2009
Published in print: Aug 2009
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