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A pareto multi-objective optimization approach for solving time-cost-quality tradeoff problems

    Xundi Diao Affiliation
    ; Heng Li Affiliation
    ; Saixing Zeng Affiliation
    ; Vivian Wy Tam Affiliation
    ; Hongling Guo Affiliation

Abstract

Speeding up a project's duration will definitely increase the cost and decrease the quality. The previous literatures were mainly related to project planning and controlling which mainly focus on cost-time tradeoff. However, limited researches have been referred to project quality based on mathematical methodologies. This paper proposes a tradeoff problem on time-cost-quality performance. A computer-based Pareto multi-objective optimization approach is utilized for solving the tradeoff problems. The approach can help searching near the reality Pareto-optimal set while not receiving any information on the stakeholders’ preference for time, cost and quality. Based on the developed approach, decision-making can become easy according to the sorted non-dominated solutions and project preferences.

Keyword : Time-cost-quality, tradeoff, Pareto optimal set, project management, genetic algorithm

How to Cite
Diao, X., Li, H., Zeng, S., Tam, V., & Guo, H. (2011). A pareto multi-objective optimization approach for solving time-cost-quality tradeoff problems. Technological and Economic Development of Economy, 17(1), 22-41. https://doi.org/10.3846/13928619.2011.553988
Published in Issue
Mar 17, 2011
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