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Bowen, P, Govender, R and Edwards, P (2014) Structural Equation Modeling of Occupational Stress in the Construction Industry. Journal of Construction Engineering and Management, 140(09).
Chang, C and Chou, H (2014) Transaction-Cost Approach to the Comparative Analysis of User-Pay and Government-Pay Public-Private Partnership Systems. Journal of Construction Engineering and Management, 140(09).
Choi, B, Lee, H, Park, M, Cho, Y K and Kim, H (2014) Framework for Work-Space Planning Using Four-Dimensional BIM in Construction Projects. Journal of Construction Engineering and Management, 140(09).
Deng, X, Low, S P, Li, Q and Zhao, X (2014) Developing Competitive Advantages in Political Risk Management for International Construction Enterprises. Journal of Construction Engineering and Management, 140(09).
Elazouni, A and Abido, M A (2014) Enhanced Trade-Off of Construction Projects: Finance-Resource-Profit. Journal of Construction Engineering and Management, 140(09).
- Type: Journal Article
- Keywords: Algorithms; Optimization; Resource management; Financial factors; Construction management; Multi-objective; Evolutionary algorithms; Time-cost trade-off; Optimization; Resource leveling; Finance; Cost and Schedule;
- ISBN/ISSN: 0733-9364
- URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000880
- Abstract:
The parameters of finance requirements, resource leveling, and anticipated profit have significant influence on many aspects of project management. These parameters interact and occasionally conflict with each other. Accordingly, achievement of a balance between these three parameters is crucial to ensure the accomplishment of project objectives. A multi-objective multimode scheduling optimization algorithm is proposed to establish the optimal trade-off between these three parameters. The strength Pareto evolutionary algorithm (SPEA) was implemented to obtain the solutions comprising the Pareto-optimal trade-off. The developed SPEA was validated by reproducing identical results of a time/cost trade-off problem in the literature. The developed SPEA was used to obtain the Pareto-optimal trade-off of a network of nine multimode activities that comprised fifty solutions. The trade-off of fifty solutions allows decision makers explore the impact of finance upon the efficiency of resource utilization and anticipated profit and thus select the solution that achieves the desired balance between the parameters. In addition, a fuzzy-based technique was used to identify the best compromise solution of the fifty solutions. The results proved the robustness and scalability of the developed algorithm. Finally, the finance-resource-profit trade-off offers potential solutions of maximized anticipated profit.
Hindman, D P, Bamberg, C R and Nussbaum, M A (2014) Bracing of Wood Composite I-Joists to Resist Lateral Buckling from Walking Loads. Journal of Construction Engineering and Management, 140(09).
Le, Y, Shan, M, Chan, A P C and Hu, Y (2014) Investigating the Causal Relationships between Causes of and Vulnerabilities to Corruption in the Chinese Public Construction Sector. Journal of Construction Engineering and Management, 140(09).
Li, Y and Taylor, T R B (2014) Modeling the Impact of Design Rework on Transportation Infrastructure Construction Project Performance. Journal of Construction Engineering and Management, 140(09).
Mostafa, M A and El-Gohary, N M (2014) Stakeholder-Sensitive Social Welfare–Oriented Benefit Analysis for Sustainable Infrastructure Project Development. Journal of Construction Engineering and Management, 140(09).
Votano, S and Sunindijo, R Y (2014) Client Safety Roles in Small and Medium Construction Projects in Australia. Journal of Construction Engineering and Management, 140(09).
Young-Corbett, D E (2014) Prevention through Design: Health Hazards in Asphalt Roofing. Journal of Construction Engineering and Management, 140(09).