Multi Objective Optimization of Time Cost Quality Quantity Using Multi Colony Ant Algorithm

Research on a new metaheuristic for optimization is often initially focused on proof of concept applications. Time and cost are the most important factors to be considered in every construction project. Over the years, many research studies have been conducted to model the time-cost relationship. Construction planners often face the challenge of optimum resources utilization to compromise between different and usually conflicting aspects of projects. Time, cost and quality of project delivery are among the crucial aspects of each project. Ant colony optimization, which was introduced in the early 1990’s as a novel technique for solving hard combinational optimization problem, finds itself currently at this point of its life cycle. In this paper, new metaheuristic multi-colony ant algorithm is developed for the optimization of three objectives time-cost quality with quantity as a trade off problem. The model is also applied to two objectives time – cost trade off problem and the results are compared to those of the existing approaches.