Title Advanced Time-Cost Trade-Off Model using Mixed Integer Programming
Authors Kwon, Obin ; Lee, Seunghyun ; Son, Jaeho
DOI http://dx.doi.org/10.6106/KJCEM.2015.16.6.053
Page pp.53-62
ISSN 2005-6095
Keywords Project Schedule ; Optimization Model ; Time-Cost Trade-Off Model
Abstract Time-Cost Trade-Off (TCTO) model is an important model in the construction project planning and control area. Two types of Existing TCTO model, continuous and discrete TCTO model, have been developed by researchers. However, Using only one type of model has a limitation to represent a realistic crash scenario of activities in the project. Thus, this paper presents a comprehensive TCTO model that combines a continuous and discrete model. Additional advanced features for non-linear relationship, incentive, and liquidated damage are included in the TCTO model. These features make the proposed model more applicable to the construction project. One CPM network with 6 activities is used to explain the proposed model. The model found an optimal schedule for the example to satisfy all the constraints. The results show that new model can represent more flexible crash scenario in TCTO model.