| Title |
Exact Solution Computation Model for Time-Cost Tradeoff Analysis |
| Authors |
Lee, Dong-Eun ; Gwak, Han-Seong ; Yi, Chang-Yong |
| DOI |
http://dx.doi.org/10.5659/JAIK_SC.2015.31.2.63 |
| Keywords |
Time-cost tradeoff ; activity overlapping ; rework cost-slope ; optimization ; exact solution |
| Abstract |
This paper presents a computational method that computes exact solution for activity overlapping involved in project time-cost tradeoff analysis. The method introduces a concept of rework cost-slope and identifies optimal overlap rate between preceding and succeeding critical activities. The mathematical concepts relative to the exact method are clearly defined and the procedures to formulate the variables are explained in detail. The method identifies the activities and their exact overlapping rates to meet a job site specific needs exactly. It maximizes usability of schedule data obtained from commercial CPM softwares(e.g., P3, SureTrak). Decision makers(i.e., project manager etc.) may make the appropriate decision in accordance with the site-specific conditions involved in the overlapping rates among critical activities. Case studies verify the usability and the validity of the system. |