MULTI-OBJECTIVE OPTIMIZATION IN PROJECT SCHEDULING: BALANCING TIME, COST, AND QUALITY IN MULTI-FAMILY CONSTRUCTION

MULTI-OBJECTIVE OPTIMIZATION IN PROJECT SCHEDULING: BALANCING TIME, COST, AND QUALITY IN MULTI-FAMILY CONSTRUCTION

Present methodologies that optimize project schedules while considering trade-offs between cost, duration, and quality outcomes.

Aditya Pandit

Project Manager

BECO Asset Management, LLC

Chesapeake, USA

aditya.pandit.003@gmail.com

Abstract

Project scheduling aims to balance competing time, cost, and quality objectives. Traditional scheduling methods like CPM focus on time optimization but cannot systematically consider trade-offs between objectives. This paper reviews state-of-the-art multi-objective optimization (MOO) techniques for construction project scheduling, focusing on multi-family projects. MOO provides a mathematical framework to balance multiple objectives simultaneously and evaluate trade-offs through Pareto-optimal solutions. Algorithms and mathematical programming methods applied to optimize time-cost quality are discussed. MOO offers advantages over traditional approaches by considering interactions, resource optimization, risk management, and dynamic adjustment capabilities. However, it's essential to know the challenges around data availability, computational complexity, model adaptability, and stakeholder buy-in when implementing optimization. Awareness of these challenges will help you prepare for and overcome them in your construction project scheduling.

Keywords — project scheduling, multi-objective optimization, Pareto optimality, time-cost-quality trade-offs, multi-family construction, evolutionary algorithms, mathematical programming, Monte Carlo simulation, discrete-event simulation, risk management, resource optimization, stakeholder engagement, construction management.