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S.M. El-Sayegh, R. El Haj, "Time-Cost-Float Optimization in Construction Projects", in J. Kruis, Y. Tsompanakis, B.H.V. Topping, (Editors), "Proceedings of the Fifteenth International Conference on Civil, Structural and Environmental Engineering Computing", Civil-Comp Press, Stirlingshire, UK, Paper 275, 2015. doi:10.4203/ccp.108.275

Keywords: optimization, time-cost trade-off, float, project management, risk, construction projects, integer programming.

Summary

Typically, construction projects are constrained by time and money. Contractors aim at completing the project on time to meet contractual requirements, save the indirect cost and release resources to work on new projects. At the same time, contractors try to complete the project within budget in order to realize the profit margin necessary for business continuation. There is a trade-off between time and cost. Time cost trade-off techniques aim at reducing the project duration by crashing critical activities (reducing their duration). When the project duration is reduced, the float available for non-critical activities are reduced which results in reducing the schedule flexibility and increasing the chance of delays in project completion. This is undesirable side effect of the time cost optimization problem. In this paper, we propose a new time cost optimization that includes the cost of float loss in the optimization model. Additionally, we introduce the concept of crashing non-critical activities to increase their float which results in a more flexible schedule. The model uses non-linear integer programming to solve the time cost optimization problem.

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Front Page Browse CCP CSETS CTR IJRT Other Authors Search Purchase Guide FAQ Contact us	Civil-Comp Proceedings ISSN 1759-3433 CCP: 108 PROCEEDINGS OF THE FIFTEENTH INTERNATIONAL CONFERENCE ON CIVIL, STRUCTURAL AND ENVIRONMENTAL ENGINEERING COMPUTING Edited by: J. Kruis, Y. Tsompanakis and B.H.V. Topping Paper 275 Time-Cost-Float Optimization in Construction Projects S.M. El-Sayegh and R. El Haj Civil Engineering Department, American University of Sharjah, United Arab Emirates doi:10.4203/ccp.108.275 purchase the full-text of this paper Full Bibliographic Reference for this paper S.M. El-Sayegh, R. El Haj, "Time-Cost-Float Optimization in Construction Projects", in J. Kruis, Y. Tsompanakis, B.H.V. Topping, (Editors), "Proceedings of the Fifteenth International Conference on Civil, Structural and Environmental Engineering Computing", Civil-Comp Press, Stirlingshire, UK, Paper 275, 2015. doi:10.4203/ccp.108.275 Keywords: optimization, time-cost trade-off, float, project management, risk, construction projects, integer programming. Summary Typically, construction projects are constrained by time and money. Contractors aim at completing the project on time to meet contractual requirements, save the indirect cost and release resources to work on new projects. At the same time, contractors try to complete the project within budget in order to realize the profit margin necessary for business continuation. There is a trade-off between time and cost. Time cost trade-off techniques aim at reducing the project duration by crashing critical activities (reducing their duration). When the project duration is reduced, the float available for non-critical activities are reduced which results in reducing the schedule flexibility and increasing the chance of delays in project completion. This is undesirable side effect of the time cost optimization problem. In this paper, we propose a new time cost optimization that includes the cost of float loss in the optimization model. Additionally, we introduce the concept of crashing non-critical activities to increase their float which results in a more flexible schedule. The model uses non-linear integer programming to solve the time cost optimization problem. purchase the full-text of this paper (price £20) go to the previous paper go to the next paper return to the table of contents return to the book description purchase this book (price £75 +P&P)
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