Construction Time-Cost Trade-Off Analysis Using LP/IP Hybrid Method
Publication: Journal of Construction Engineering and Management
Volume 121, Issue 4
Abstract
Construction planners must select appropriate resources, including crew size, equipment, methods, and technologies, to perform the tasks of a construction project. In general, there is a trade-off between time and cost to complete a task—the less expensive the resources, the longer it takes. Using critical-path-method techniques, the overall project cost can be reduced by using less expensive resources for noncritical activities without impacting the duration. Furthermore planners usually need to adjust the selection of resources in order to shorten or lengthen the project duration. Finding optimal decisions is difficult and time-consuming considering the numbers of permutations involved. For example, a critical-path-method network with only eight activities, each with two options, will have 256 (2 8 ) alternatives. Exhaustive enumeration is not economically feasible even with very fast computers. This paper presents a new algorithm using linear and integer programming to efficiently obtain optimal resource selections that optimize time and cost of a construction project.
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Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 121 • Issue 4 • December 1995
Pages: 446 - 454
Copyright
Copyright © 1995 American Society of Civil Engineers.
History
Published online: Dec 1, 1995
Published in print: Dec 1995
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