In this paper, an efficient multi-objective model is proposed to solve time-cost trade off problem considering cash flows. The proposed multi-objective meta-heuristic is based on Ant colony optimization and is called Non Dominated Archiving Ant Colony Optimization (NAACO). The significant feature of this work is consideration of uncertainties in time, cost and more importantly interest rate. A ...

In project management, spending minimum time and cost while achieving maximum quality is of great significance to its success. Consequently, it is vital to find an optimal equilibrium between the three objectives of construction projects. To achieve this goal, this study presents an advanced nonlinear multiobjective model to solve the time-cost-quality trade-off problem. We assume that the qual...

In common models of project time-cost trade-off, time value of money is not considered and often time-cost trade-off is performed without considering time value of money. In real world, pass of time causes decrease in money value. Therefore, taking into account the time value of money in time-cost trade-off problem makes this problem is becoming more and more realistic. In this paper, we study ...

This paper draws attention to project trade-offs significance in project management and critically reviews the current state of the knowledge on the elements to be considered and the methods to resolve trade-off decisions. Traditionally the elements to be considered in trade-offs are mainly limited to time and cost and to some extent quality or risk or the well-known Project Triangle. The trade...