TIME AND COST OPTIMIZATION OF CONSTRUCTION PROJECTS: A REVIEW

Nowadays the maximum construction projects are behind the schedule, so difficult task for a project manager to finish the project on time, within the budget and achieve other project objectives. For that constantly measuring progress, evaluation plans & corrective actions should be taken whenever required. Time and cost are major factors to be considered in the execution of projects. Optimization of construction projects is a systematic way to improve the profit margins and obtains best results under given circumstances. There are various tools and techniques which are available for optimization. Optimizing the performance of the different techniques adopted at one stage of the construction process may not be useful if the methods used are not up to the efficient level. There are different softwares used for systematic planning and programming with effective management and it is necessary for completion of projects in time. This paper includes the different softwares and techniques used for time and cost optimization of construction projects.