Time-cost Tradeoff Research Articles

Time and Cost Optimization Analysis of Reservoir Building Work in Wosusokas Regional SPAM Project using Time Cost Trade Off Method

Cost and time optimization is an important aspect of project management that aims to achieve optimal efficiency in the use of resources. Time Cost Trade Off (TCTO) method is often used to manage the relationship between time and cost in project completion. This research analyzes cost and time op-timization on construction projects using Primavera P6 software. In optimi-zation with the addition of working hours, 4 alternatives were carried out, namely the addition of 1 hour, 2 hours, 3 hours, and 4 hours of work, the re-sults obtained were a shorter duration but the total cost was getting bigger. Whereas in the alternative of adding workers as many as 1 worker and 2 workers, the optimization results obtained a shorter duration and a reduced total cost. Thus, the TCTO method and the use of Primavera P6 proved ef-fective in identifying the most efficient optimization strategy to achieve pro-ject success on time and within budget.

A Constraint Programming Approach for Discrete Time–Cost Tradeoff Problems in a Time-Constrained Activity Network

The discrete time-cost tradeoff problem (DTCTP) is a well-researched topic in the field of operations research. The majority of existing DTCTP models are based on traditional activity networks, which permit the execution of an activity as soon as all its predecessors have been completed. This assumption is reasonable, but it is important to note that there are always exceptions. The main work of this study was threefold. Firstly, we expanded the analysis of the DTCTP to encompass time-constrained activity networks (DTCTPTC), which encompassed three different types of time constraints. The first constraint was the time-window constraint, which limited the time interval during which an activity could be executed. The second constraint was the time-schedule constraint, which specified the times at which an activity could begin execution. The third constraint was the time-switch constraint, which required project activities to start at specific times and remain inactive during designated time periods. Secondly, a constraint programming (CP) model was developed for the purpose of solving the DTCTPTC. The model employed interval variables to define the activity and its potential time constraints, while CP expressions were utilized to ensure the feasibility of the solution. The objective was to identify the optimal execution mode for each activity, the optimal start times for time-scheduled activities, and the optimal work/rest patterns for time-switch activities, with the aim of minimizing the total cost of the project. Finally, the efficacy of the proposed CP model was validated through two case studies based on two illustrative projects of varying sizes. The outcomes were then compared against existing algorithms. The results demonstrated that time constraints were important factors affecting schedule optimization, and the proposed CP model had the ability to solve large-scale DTCTPTC.

Optimizing time and cost in construction projects with a hybridized multi-verse optimizer and opposition-based learning

PurposeFor successful management of construction projects, a precise analysis of the balance between time and cost is imperative to attain the most effective results. The aim of this study is to present an innovative approach tailored to tackle the challenges posed by time-cost trade-off (TCTO) problems. This objective is achieved through the integration of the multi-verse optimizer (MVO) with opposition-based learning (OBL), thereby introducing a groundbreaking methodology in the field.Design/methodology/approachThe paper aims to develop a new hybrid meta-heuristic algorithm. This is achieved by integrating the MVO with OBL, thereby forming the iMVO algorithm. The integration enhances the optimization capabilities of the algorithm, notably in terms of exploration and exploitation. Consequently, this results in expedited convergence and yields more accurate solutions. The efficacy of the iMVO algorithm will be evaluated through its application to four different TCTO problems. These problems vary in scale – small, medium and large – and include real-life case studies that possess complex relationships.FindingsThe efficacy of the proposed methodology is evaluated by examining TCTO problems, encompassing 18, 29, 69 and 290 activities, respectively. Results indicate that the iMVO provides competitive solutions for TCTO problems in construction projects. It is observed that the algorithm surpasses previous algorithms in terms of both mean deviation percentage (MD) and average running time (ART).Originality/valueThis research represents a significant advancement in the field of meta-heuristic algorithms, particularly in their application to managing TCTO in construction projects. It is noteworthy for being among the few studies that integrate the MVO with OBL for the management of TCTO in construction projects characterized by complex relationships.

Enhancing Efficiency in Industrial Metal Roof Replacement: Utilizing Goal Programming for Cost Optimization

This study explores the use of Goal Programming (GP) to optimise project management decisions in the construction industry, focusing on a case study of a roof replacement project. The construction industry is crucial to a country's development, contributing significantly to economic growth and employment rates. However, construction projects are often complex and resource-intensive. Project management is essential in ensuring the successful completion of construction projects. The study uses GP to address the time-cost trade-off in project management, aiming to minimise project costs while meeting project deadlines and quality requirements. The GP model considers various constraints, such as the availability of workers and equipment, project duration, and budget limitations. The study presents two optimisation options: a time-focused option and a cost-focused ed option. The time-focused option prioritises timely project completion, while the cost-focused option aims to minimise project costs. In the case study, the time-focused option is the most suitable choice. This approach allows the project to be completed in time as the alternative option delay delays the project far too unacceptable. Overall, the study demonstrates the effectiveness of GP in optimising project management decisions in the construction industry. By carefully evaluating project constraints and objectives, GP can help construction companies achieve the best possible outcomes in terms of cost, time, and quality. Keywords: Goal Programming, Construction Industry, Project Management, Time-Cost Trade-off, Optimization

Development of time–cost trade-off optimization model for construction projects with MOPSO technique

Development of time–cost trade-off optimization model for construction projects with MOPSO technique

Augmented Time–Cost Trade-Off Optimization Using Particle Swarm Optimization

Augmented Time–Cost Trade-Off Optimization Using Particle Swarm Optimization

Optimasi Biaya dan Waktu Dengan Metode TCTO pada Pembangunan Casting Mechanical & Civil Work For Oil Storage And Steady Room Workshop Gresik

In planning a project in addition to time and resource variables, cost variables (costs) have a very important role. This research was conducted on the construction of Casting Mechanical &; Civil Work For Oil Storage And Steady Room Workshop Gresik. The purpose of this study is to obtain more efficient optimal cost and time using the Time Cost Trade Off (TCTO) method. This research is carried out by means of compression or emphasis on activities that are on a critical task. From the results of the analysis with the alternative of crashing the addition of working hours (overtime), it was found that the duration of the crashing results for 1 hour of overtime was 175 days, 2 hours of overtime 173 days, and 3 hours of overtime 172 days. As for the crash cost, 1 hour of overtime is Rp. 3,123,406,448 while 2 hours is Rp. 3,119,117,964 and 3 hours of overtime is Rp. 3,117,248,350. Of the three durations, it produces an optimal time of 172 working days with a time efficiency of 3.37% and an optimal cost of Rp. 3,117,248,350 with a cost efficiency of 0.42% with an overtime duration of 3 hours.

Multi-objective planning for time-cost trade-offs in multi-project parallel environment

PurposeProject managers bear the responsibility of selecting and developing resource scheduling methods that align with project requirements and organizational circumstances. This study focuses on resource-constrained project scheduling in multi-project environments. The research simplifies the problem by adopting a single-project perspective using gain coefficients.Design/methodology/approachIt employs uncertainty theory and multi-objective programming to construct a model. The optimal solution is identified using Matlab, while LINGO determines satisfactory alternatives. By combining these methods and considering actual construction project situations, a compromise solution closely approximating the optimal one is derived.FindingsThe study provides fresh insights into modeling and resolving resource-constrained project scheduling issues, supported by real-world examples that effectively illustrate its practical significance.Originality/valueThe research highlights three main contributions: effective resource utilization, project prioritization and conflict management, and addressing uncertainty. It offers decision support for project managers to balance resource allocation, resolve conflicts, and adapt to changing project demands.

Analysis of a time–cost trade-off in a resource-constrained GERT project scheduling problem using the Markov decision process

Analysis of a time–cost trade-off in a resource-constrained GERT project scheduling problem using the Markov decision process

Integrated decisions for global supply chain network configuration: a dynamic multi-modal perspective

ABSTRACT This paper proposes a mathematical model to optimally design a multi-modal global production and logistics network consisting of multiple plants, warehouses, and marketplaces. The proposed model is a mixed integer linear program (MILP), which optimally selects different facilities and warehouses required to be active in each time period to fulfil the demand of various marketplaces. The objective function is cost minimization pertaining to setup, production, inventory holding, and transportation. Along with this, the model also decides the optimal quantities to be transported among the plants, warehouses, and marketplaces. The model also optimally selects the transportation mode to be deployed. The paper then expands the proposed model to include a time-cost trade off by imposing a penalty cost for delays and compares and critiques the results of the two scenarios. The proposed MILP has been validated on a randomly generated data set consisting of 4 plants, 6 warehouses, 4 marketplaces, and 3 time periods (4P-6W-4 M-3T) using LINGO 10 optimization package. The illustration considers three modes of transportation namely, road, rail, and air. Last, the paper concludes with discussing managerial implications of the work along with suggesting some research directions for future.

Clinical site selection problems with probabilistic constraints

Recruiting candidates globally and across multiple sites in different geographic regions is necessary to speed up the enrollment of clinical trials. While patient enrollment can benefit from this globalization, initiating clinical trials has become much more complicated. In the start-up stage, the sites must be selected out of a set of potential candidates around the globe based on the specifics of those clinical trials, such as protocols, operational costs, and recruitment deadlines. Sites in one region can be very distinct from sites in another area. Yet, a common mistake in selecting sites is to rely on too little knowledge or subjective data. Poor selection decisions can lead to study delays and prolong the time to market for life-saving treatments. Thus, this paper proposes a novel framework to aid the decision-making in the global site selection problem (GSSP). To ensure that our framework accurately captures the uncertainty in recruitment time, we adopt a risk-based constraint that accounts for random patient enrollment. The extensive computational studies help quantify significant time-cost trade-offs as a potential solution to control the costs of conducting a trial.

An Alternative Method for Finding the Critical Path of the Network in Fuzzy Time Cost Trade off Problem

Background : The critical path approach is used to determine the network's longest path, according to historical records. This study examines a different approach to determining the construction network's longest path. Method: Here, the network is viewed as a directed acyclic graph, and the critical path of the network is found using the longest path algorithm of the network. To find the best answer for a building project, the longest path that was found was integrated into a linear programming issue. The triangle fuzzy variable defines all of the project's inputs. The 992 square foot building area is incorporated, and three project manager’s quotes are used as a triangular fuzzy variable. Findings : This work has the options of getting quotation from the project managers, convert them as the fuzzy variables such as triangular fuzzy variable, Trapezoidal fuzzy variable and pentagonal fuzzy variable. After the network is converted into a linear programming problem using the fully fuzzy mathematical model, the best possible solution is found. Novelty and applications : Alternative method for critical path of the network has been incorporated. It has been found that the proposed method reduces the time to find the critical path of the larger networks. Keywords: Directed Acyclic Graph, Longest Path Algorithm, Triangular Fuzzy Variable, Fuzzy Linear Programming Problem, Fully Fuzzy Mathematical Model

ANALYSIS OF PROJECT DELAY USING THE CRITICAL PATH METHOD (CPM): A CASE STUDY ON THE CONSTRUCTION PROJECT OF THE OPD OFFICE BUILDING IN PASURUAN

In construction project control, the main factors of concern are quality, time and cost control. So it is necessary to use one method in the implementation of control. This study aims to analyze the time and cost of the Raci OPD Office Building Construction project. The benefit of this research is to anticipate potential delays that occur in the project. The problem limitation is focused on work that has not been completed in the remaining time of the contract period. To analyze time and cost, this research uses Critical Path Method (CPM) and Time-Cost Trade-Off (TCTO) which begins with determining the work network and critical path. TCTO analysis is carried out by shortening the duration of work by adding 3 hours of overtime and calculating the Crash Slope of each job on the critical path. Rescheduling is done by accelerating the work that has the lowest cost. The results showed that the most effective rescheduling was carried out on the Lt.3 Installation and Plastering work with the acquisition of an acceleration duration of 8 days. And the total cost required for this acceleration is Rp. 29,441,424, - or Rp. 1,226,726, - per day for 24 days.

TIME AND COST ANALYSIS ON PROCUREMENT OF SUTET 275 Kv 2CCT QUADRUPLE ZEBRA GUMAWANG – GITET LAMPUNG 1 USING TIME COST TRADE OFF METHOD

Indonesia as an archipelago state is still need an equality development with the intention in achieving the goals to fulfill the requirement of structure and infrastructure. The economy that has experiencing growth, it can be seen with the rising of the demand for supply of electricity power whether it is coming from domestic moreover from industrial usages. Lampung Province, as one of the regions which is in a continuation to develop, requires the support of electric power, which at its peak load reaches 1200 MW, while the capacity of the existing power plant can only produce 700 MW, therefore the construction of a 275 kV Gumawang-Lampung 1 SUTET interconnection network with a capacity of up to 2000 MW was established to meet these requirements. Based on the time schedule which noted that the duration of foundation work started with the excavation, concreting until the reaches of it's curing time in 28 days is 42 days in 2023 December 13th is on try to speed up can be curing in 2023 December 8th, so the schedule tower installation in 2023 December 9th will be on time. Due to this delay, the researcher intends to carry out an acceleration analysis starting with preparing a network diagram using the Microsoft Project software, followed by the crashing process by adding groups of workers and tools of any activities on the critical path. The next step is to calculate the crash cost and cost slope values using the time cost trade off (TCTO) method.

STUDY OF COST AND TIME ANALYSIS USING THE TIME COST TRADE-OFF (TCTO) METHOD IN THE CONSTRUCTION PROJECT OF THE OFFICE BUILDING OF A GOVERNMENT AGENCY (OPD) IN PASURUAN

In construction project control, the main factors of concern are quality, time and cost control. So it is necessary to use one method in the implementation of its control. This study aims to analyze the time and cost of the Raci OPD Office Building Construction project. The benefit of this research is to anticipate potential delays that occur in the project. The problem limitation is focused on work that has not been completed in the remaining time of the contract period. To analyze time and cost, this research uses Critical Path Method (CPM) and Time-Cost Trade- Off (TCTO) which begins with determining the work network and critical path. TCTO analysis is carried out by shortening the duration of work by adding 3 hours of overtime and calculating the Crash Slope of each job on the critical path. Rescheduling is done by accelerating the work that has the lowest cost The results showed that the most effective rescheduling was carried out on the Lt.3 Installation and Plastering work with the acquisition of an acceleration duration of 8 days. And the total cost required for this acceleration is Rp. 29,441,424, - or Rp. 1,226,726,- per day for 24 days.

A Comparative Study of Time and Cost Optimization in Project Management: Primavera P6 & Linear Programming with Lingo Solver

In an effort to boost efficiency and reduce costs, computer-based solutions have become more popular for project management. Although Primavera P6 and other traditional tools have proved essential for project planning and control, difficulties still arise with complicated projects. An innovative approach is provided by the development of mathematical optimization techniques, especially Linear Programming (LP) with programmes like Lingo Solver. The purpose of this study is to compare the time and cost optimization of Primavera P6 and Lingo Solver's LP. The goals are to analyse the advantages and disadvantages, evaluate the effectiveness and adaptability, and offer useful information to decision-makers. Application of Lingo Solver's LP is found to significantly reduce project duration, with a significant impact on cost trends. On the other hand, Primavera P6 shows that project duration can be reduced while maintaining the same level of cost. The study highlights how the duration of the project, additional indirect expenses, and costs interplay dynamically throughout the duration of the project. This research provides useful insights to the continuing discussion on project management methodologies by bridging the gap between conventional project management tools and advanced optimization techniques. This will help decision-makers overcome the complexities of project optimization for optimal results in practical applications. Key Words: Optimization, Construction project, Linear programming, Primavera p6, Lingo, Project management, Mathematical model, Time-cost trade-off.

TIME COST TRADE OFF ANALYSIS ON PROJECT ACCELERATION WITH ADDITIONAL WORKING HOURS (OVERTIME) (CASE STUDY: BUILDING REHABILITATION PROJECT ON DEKRANASDA HALL OF WEST KALIMANTAN)

Acceleration on projects is frequently used when there is a mismatch between the actual and planned schedules. In addition, acceleration is frequently implemented in response to requests from the project owner to complete the project as quickly as possible to meet specific goals so that the building can be used immediately. The owner of the Dekranasda Building and Hall in West Kalimantan requested that the project be finished immediately so that the Dekranasda Building could be used as the location for a national UMKM exhibition event. The initial plan for this project was scheduled for 152 working days. Because there would be an exhibition event, the project was accelerated to 128 working days. The purpose of this research is to accelerate the project for 24 days. The stages of this acceleration analysis start from finding what activities can be softened, then compiling a network diagram to identify activities on the critical path, followed by crashing analysis to get crash duration, crash cost, and cost slope, then Time Cost Trade-Off analysis is carried out. This research uses the PDM (Precedence Diagram Method) method applied to Microsoft Project to compile a Network Diagram. The results of the acceleration analysis show that the crashing process is carried out until the 12th crashing to meet the target acceleration duration of 128 working days from the normal duration of 152 working days, and the usual 24-day length is shortened. Twelve tasks have been added, raising the overall project cost from Rp. 6,794,007,874 to Rp. 7,091,725,614 by a total of Rp. 297,717,741.

Optimizing Project Scheduling Using Linear Programming Approach: A Case Study of Heating Ventilation & Air Conditioning Mechanical Installation

In a construction environment, project scheduling is an essential tool to measure the success of all projects. This research paper will use project crashing of Activity to decrease the project completion schedule through the CPM method of time-cost trade-off and to minimize project cost. It includes linear programming with the aid of Microsoft Excel Solver to determine the result. And at the end of the research paper, it will show the impact of crashing the activities for the HVAC mechanical installation in a project for both normal and crash time, which displays that the selected Activity that had been crashed generated an increase of 9.8 % total cost from the total project cost.

COST AND TIME ANALYSIS OF THE PONTIANAK MCD BUILDING PROJECT USING TIME COST TRADE OFF (TCTO) METHOD

This study aims to apply the Time Cost Trade Off (TCTO) Method in cost and time analysis for the McDonald's construction project in Pontianak. This method allows project managers to explore the relationship between turnaround time and project cost, with the goal of finding the optimum point that produces the lowest cost with an acceptable turnaround time. The analysis process begins with the identification of project activities, estimation of the cost and duration of each activity, and the creation of an initial project schedule. Next, simulations were carried out using TCTO to evaluate time and cost reduction options. By applying the Time Cost Trade Off Method, it is expected that the McDonald's construction project in Pontianak can be completed with minimal costs and in time in accordance with the targets that have been set. From the results of data processing, it was found that the addition of 2 hours of overtime is the optimum acceleration, which can accelerate work time by 18.30 days with an acceleration cost of IDR 62,002,212, so that the total optimum cost becomes IDR 1,091,128,551,-. Where this result is the optimum result of the project fine of IDR 228,366,605 for a delay of 12,628 days.

Cost and Time Analysis of the Construction of the 275 Kv 2cct Quadruple Zebra Sutet Project Gumawang – Gitet Lampung 1 Using the Time Cost Trade Off Method

Indonesia as an archipelago state is still need an equality development with the intention in achieving the goals to fulfil the requirement of structure and infrastructure. The economy that has experiencing growth, it can be see with the rising of the demand for supply of electricity power whether it is coming from domestic moreover from industrial usages. Lampung Province, as one of the regions which in a continuation to develop, requires the support of electric power, which at its peak load reaches 1200 MW, while the capacity of existing power plant can only produce 700 MW, therefore the construction of a 275 kV Gumawang-Lampung 1 SUTET interconnection network with a capacity of up to 2000 MW was established to meet these requirement.Based on the time schedule which noted that the duration of foundation work started with the excavation, concreting until the reaches of it’s curing time in 28 days is 42 days in 2023 December 13th is on try to speed up can be curing in 2023 December 8th, so the schedule tower installation in 2023 December 9th will be on time. Due to this delay, the researcher intends to carry out an acceleration analysis starting with preparing a network diagram using the Microsoft Project software, followed by the crashing process by adding groups of workers and tools of any activities on the critical path. The next step is to calculate the crash cost and cost slope values ??using the time cost trade off (TCTO) method.From the results of the analysis carried out, it was found that the normal project duration was 42 days after the crashing process was carried out to 36 days, with a normal work cost of Rp. 1,774,462,352.84 and after the crashing process was carried out with the alternative of adding labor groups and equipment the cost became Rp. 1,849,762,666.92. It was concluded that with the time cost trade off method there was a reduction in duration and an increase in costs.