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Aminbakhsh, A and Sonmez, R (2015) Pareto oriented optimization of discrete time-cost trade-off problem using particle swarm optimization. In: Raiden, A and Aboagye-Nimo, E (Eds.), Proceedings 31st Annual ARCOM Conference, 7-9 September 2015, Lincoln, UK. Association of Researchers in Construction Management, 33–40.

  • Type: Conference Proceedings
  • Keywords: Pareto front, particle swarm optimization, project scheduling, time-cost trade-off problem
  • ISBN/ISSN: 978-0-9552390-9-0
  • URL: http://www.arcom.ac.uk/-docs/proceedings/a2604506123225031831e79ce484fe5d.pdf
  • Abstract:
    In project scheduling, it is feasible to reduce the duration of a project by allocating additional resources to its activities. However, crashing the project schedule will impose additional costs. Numerous research has focused on optimizing the trade-off between time and cost to achieve a set of non-dominated solutions. However, the majority of the research on time-cost trade-off problem developed methods for relatively simple problems including up to eighteen activities, which are not representing the complexity of real-life construction projects. In this work a Particle Swarm Optimization (PSO) technique is presented for Pareto oriented optimization of the complex discrete time-cost trade-off problems. The proposed PSO engages novel principles for representation and position-updating of the particles. The performance of the PSO is compared to the existing methods using a well-known 18-activity benchmark problem. A 63-activity problem is also included in computational experiments to validate the efficiency and effectiveness of the proposed PSO for a more complex problem. The results indicate that the proposed method provides a powerful alternative for the Pareto front optimization of DTCTPs.