Evaluating The Potential Quality Loss Cost

1692 Words7 Pages
To shorten completion time of construction projects, various researchers have worked on time-cost tradeoff to optimize project plans and resource allocation keeping in mind no potential loss in quality. This paper discussed various research findings in this area and summarizes methods and approaches found. Various approach have been introduced such as The Potential Quality Loss Cost (PQLC) in time-cost tradeoff proposes linear programming model preventing crashing of activities beyond quality limits and bring practicality in planning. Another research highlights using linear and integer programming algorithms for resource optimization while scheduling of project, thereby analyzing potential time-cost tradeoff. In a different approach, researcher used fuzzy multi-attribute utility methodology and justifying it with computational analysis to provide an alternate solution to the problem. A research focusing on principle of genetic algorithms, results in development of VBA macro programs which uses the total project cost as an objective function and accounts for project-specific constraints on time and cost. CE Database subject headings: time-cost tradeoff, linear and integer programming, fuzzy multi-attribute, VBA macro programs, genetic algorithms. Introduction For a project to be successfully completed before due dates and keeping budget under control optimum utilization of resources is necessary; however, these limits may sometimes surpass. A significant variance may be
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