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 Time in Construction Project

The overall time T of a construction project can be easily calculated by nodes as activities in an acyclic digraph network:

T=\max _{i=1, n}\left(\mathrm{EST}_{(i)}+\operatorname{Dur}_{(i)}\right),           (3)

where T= overall time in construction project, \operatorname{EST}_{(i)}=\max _{h=1, i-1}\left(\operatorname{EST}_{(h)}+\operatorname{Dur}_{(h)}\right), as well as the earliest starting time of activity (i) derived by its predecessors, and the first \mathrm{EST}_{(1)}=0.