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Time-cost optimization: using GA and fuzzy sets theory for uncertainties in cost

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  • Ehsan Eshtehardian
  • Abbas Afshar
  • Reza Abbasnia

Abstract

Uncertainties should be considered in any time-cost trade-off problems when minimizing project cost and duration, which leads to the so-called stochastic time-cost trade-off problem. A new approach to investigate stochastic time-cost trade-off problems employing fuzzy logic theory is presented. The proposed approach fully embeds the fuzzy structure of the uncertainties in total direct cost into the model. An appropriate GA is used to develop a solution to the multi-objective fuzzy time cost model. The accepted risk level of the project manager is defined through α cut approach for which a separate Pareto front with set of non-dominated solutions has been developed. To compare the alternative set of options for any assumed project duration, associated fuzzy costs for different values of α cut are ranked employing two appropriate approaches for fuzzy costs comparison. The proposed models are applied to solve two benchmark test problems. It is shown that the models facilitate the decision-making process by selecting specified risk levels and employing the associated Pareto front.

Suggested Citation

  • Ehsan Eshtehardian & Abbas Afshar & Reza Abbasnia, 2008. "Time-cost optimization: using GA and fuzzy sets theory for uncertainties in cost," Construction Management and Economics, Taylor & Francis Journals, vol. 26(7), pages 679-691.
    • Handle: RePEc:taf:conmgt:v:26:y:2008:i:7:p:679-691
    DOI: 10.1080/01446190802036128
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    References listed on IDEAS

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    1. S. Thomas Ng & Duc Thanh Luu & Swee Eng Chen & Ka Chi Lam, 2002. "Fuzzy membership functions of procurement selection criteria," Construction Management and Economics, Taylor & Francis Journals, vol. 20(3), pages 285-296.
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    Cited by:

    1. Osama Mohamed ElSahly & Salma Ahmed & Akmal Abdelfatah, 2023. "Systematic Review of the Time-Cost Optimization Models in Construction Management," Sustainability, MDPI, vol. 15(6), pages 1-20, March.
    2. Shahryar Monghasemi & Mohammad Reza Nikoo & Mohammad Ali Khaksar Fasaee & Jan Adamowski, 2017. "A Hybrid of Genetic Algorithm and Evidential Reasoning for Optimal Design of Project Scheduling: A Systematic Negotiation Framework for Multiple Decision-Makers," International Journal of Information Technology & Decision Making (IJITDM), World Scientific Publishing Co. Pte. Ltd., vol. 16(02), pages 389-420, March.
    3. Chen, Shih-Pin & Tsai, Ming-Jiun, 2011. "Time-cost trade-off analysis of project networks in fuzzy environments," European Journal of Operational Research, Elsevier, vol. 212(2), pages 386-397, July.

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