Time-Cost-Quality Tradeoff Modeling based on Resource Allocation
Completion requirements
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 \(\mathrm{EST}_{(1)}=0\).