Genetic Algorithm for Optimization of Time-Cost Trade-Off for Construction

Present paper discusses about the hybrid method (genetic algorithm) of multi-objective optimization for studying time-cost trade-off problems (TCTP). In construction system the main objectives are less time taken, higher quality product, satisfaction of employer/clients, less waste of resources, cost-effective use of resources, products are sustainable. In a project management system main target is either to minimize the overall cost or to minimize the total time. Different hybrid techniques like simulated annealing (SA), random search (RS) and complex/simplex have also been discussed. Multi-objective hybrid optimization is the best method to optimize the results. The present study will focus on these objectives and how to minimize the total idle time or delays by optimization technique so that an effective and efficient scheme should be developed for any construction system. At the end we will find the combination of activities cost and their duration for achieving the goal of optimum results. MATLAB will be used to code the mathematical problem.