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Time-cost trade-off problems of engineering project with running income

conference contribution
posted on 2008-11-06, 00:00 authored by Hong Xian LiHong Xian Li, H Ouyang
For an engineering project with running income, the result of time-cost trade-off problems (TCTP) concerning construction duration is only partly optimal. More cash flow happens during the running period, and the final goal of clients is to obtain the maximal profit across the lifecycle of engineering projects. In some situations, the cost of compressing construction duration even exceeds the increase of income of running period. Therefore, there should be an optimal scheme with the whole profit maximum. The relationship between the income of running period and the construction duration is analyzed in this paper; with the time value of capital taken into account, the mathematic model of TCTP across the running period is developed. Furthermore, the improved genetic algorithms (GA) proposed in this paper are applied to optimize the model. In the end, an example is given to testify the validity of the TCTP across the running period with the time value of capital considered.

History

Pagination

9-12

Location

Beijing, China

Start date

2008-11-04

End date

2008-11-06

ISBN-13

978-0-7695-3402-2

Language

eng

Publication classification

EN.1 Other conference paper

Copyright notice

2008, IEEE

Editor/Contributor(s)

Kawada S

Title of proceedings

ICRMEM 2008 : Proceedings of the 2008 International Conference on Risk Management and Engineering Management

Event

IEEE Computer Society. Conference (2008 : Beijing, China)

Publisher

Institute of Electrical and Electronics Engineers

Place of publication

Piscataway, N.J.

Series

IEEE Computer Society Conference

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