Time-Cost-Quality Tradeoff Modeling based on Resource Allocation

Read this article. The paper presents an optimization model that enables managers to effectively evaluate trade-offs related to time, cost, and other competing priorities. Pay particular attention to Section 6 as it provides an illustrated example of building a home.

Formulating PTCQTP Model

Calculating Overall Quality

Since a construction project comprises various resources such as materials, machines, method, labors, and even management, the overall quality Q of a construction project is calculated by each activity's quality \mathrm{AQP}_{(i)} and its quality weight \mathrm{WT}_{i} :

\mathrm{Q}=\sum\limits_{i=1}^{n}\left(\mathrm{WT}_{i} \times \mathrm{AQP}_{(i)}\right), (11)

where Q= the general quality of a construction project ; n= number of activities in a construction project; \mathrm{WT}_{i}= quality weight indicator of each construction activity (i), and \sum_{i=1}^{n} \mathrm{WT}_{i}=1.0 ; \mathrm{AQP}_{(i)}= quality performance of construction activity (i) calculated by its labor quality, material quality, construction equipment quality, and administration \mathrm{AQP}_{(0)}=\mathrm{LWT}_{i} \times \mathrm{LQ}_{(i)}+\mathrm{MWT}_{i} \times \mathrm{MQ}_{(i)}+\mathrm{EWT}_{i} \times \mathrm{EQ}_{(i)}+\mathrm{AWT}_{2} \times \mathrm{AQ}_{(i)} ; \mathrm{LWT}_{i} \mathrm{AQP}_{(i)}=\mathrm{LWT}_{i} \times \mathrm{LQ}_{(i)}+\mathrm{MWT}_{i} \times \mathrm{MQ}_{(i)}+\mathrm{EWT}_{i} \times \mathrm{EQ}_{(i)}+\mathrm{AWT}_{i} \times \mathrm{AQ}_{(i)} ; \mathrm{LWT}_{i}, \mathrm{MWT}_{i}, EWT _{i}, \mathrm{AWT}_{i}= weight indicators of construction labor, material, equipment, and administration in activity (i) respectfully; \mathrm{LQ}_{(i)}, \mathrm{MQ}_{(i)}, \mathrm{EQ}_{(i)}, \mathrm{AQ}_{(i)}= quality of construction labor, material, equipment, and administration in activity (i) respectfully.