Time-Cost-Quality Tradeoff Modeling based on Resource Allocation

The overall cost of a construction project is added up with each construction activity's cost and its administration cost $\mathrm{AC}_{(i)}$. Thereby the overall cost $\mathrm{C}$ is calculated as follows:

$C=\sum\limits_{i=1}^{n}\left(\mathrm{LC}_{(i)}+\mathrm{MC}_{(i)}+\mathrm{EC}_{(i)}+\mathrm{AC}_{(i)}\right),$                (12)

where $C=$ the overall cost of a construction project; $\mathrm{LC}_{(i)}, \mathrm{MC}_{(i)}, \mathrm{EC}_{(i)}, \mathrm{AC}_{(i)}=$ the cost of labor, materials, equipment, and administration in construction activity (i) respectfully; $n=$ number of all construction activities.