Construction Time-Cost Tradeoff Optimization
S. Burns,* L. Liu,* C. Feng
University of Illinois

Construction planners face the decisions of selecting appropriate resources, including crew sizes, equipment, methods, and technologies, to perform the tasks of a construction project. In general there is a tradeoff between time and cost-the less expensive the resources, the longer it takes. Using CPM techniques, the overall project cost can be reduced by using less expensive resources for noncritical activities without impacting the duration. This project concerns a lower-bounding technique to generate a high-quality estimate of the overall time-cost trade-off curve of a project.