Multi-Objective Optimization of Construction Project Time-Cost-Quality Trade - off Using Differential Evolution Algorithm

Time and cost are among the important aspects considered for every construction project. Many research approaches have been followed to model time-cost relationship. There is a constant rise in the use of innovative contract methods which provide incentives for maximizing quality. There is an increasing pressure to improve the project performance due to the innovative contracting methods which necessitate developing models incorporating quality along with time and cost. A main contractor normally subcontracts most of the tasks of a project for improving project performance. It is always a complex and challenging task for a main contractor, to choose a correct bid which satisfies the time, cost and quality requirements of a project. In the present study, a differential evolution algorithm is used to solve this multi-objective time-cost-quality optimization problem. Two case studies are analyzed and the results obtained compared with the existing approaches to test the applicability and efficiency of the algorithm. It is evident from the results that the differential evolution algorithm performs efficiently in locating the optimal solution with minimum function evaluation.