Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO

Abstract: Completion of the activities within optimal time and cost plays a significant role in construction projects. Recently, project managers have to decrease the total durations and costs of the projects more than before due to the competitive environment. Mostly, decision makers usually seek d...

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Autores principales:	Albayrak,Gülçağ, Özdemir,İlker
Lenguaje:	English
Publicado:	Escuela de Construcción Civil, Pontificia Universidad Católica de Chile 2018
Materias:	Hybrid algorithm metaheuristic method project planning time-cost trade-off
Acceso en línea:	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-915X2018000200304
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spelling	oai:scielo:S0718-915X20180002003042018-11-15Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSOAlbayrak,GülçağÖzdemir,İlker Hybrid algorithm metaheuristic method project planning time-cost trade-off Abstract: Completion of the activities within optimal time and cost plays a significant role in construction projects. Recently, project managers have to decrease the total durations and costs of the projects more than before due to the competitive environment. Mostly, decision makers usually seek different alternatives which reduce time and cost. As well as being one of the most major topics of construction management, this problem called time-cost trade-off (TCTO) which is extremely difficult to solve with traditional mathematical methods. In recent years, metaheuristic algorithms are outstanding methods in this field due to their flexible and adaptable structure. This paper presents a new algorithm called F-PSO which consists of hybridizing Firefly Algorithm (FA) with Particle Swarm Optimization (PSO). In this method, the problem is modelled with various execution modes to select the optimal one for each activity. The applicability and validity of the proposed method is confirmed by performing 18-activity project as a benchmark problem. Comparison of numerical results with different metaheuristic algorithms demonstrates the effectiveness and efficiency of F-PSO with regard to optimality of time and cost outcomes.info:eu-repo/semantics/openAccessEscuela de Construcción Civil, Pontificia Universidad Católica de ChileRevista de la construcción v.17 n.2 20182018-08-01text/htmlhttp://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-915X2018000200304en10.7764/rdlc.17.2.304
institution	Scielo Chile
collection	Scielo Chile
language	English
topic	Hybrid algorithm metaheuristic method project planning time-cost trade-off
spellingShingle	Hybrid algorithm metaheuristic method project planning time-cost trade-off Albayrak,Gülçağ Özdemir,İlker Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO
description	Abstract: Completion of the activities within optimal time and cost plays a significant role in construction projects. Recently, project managers have to decrease the total durations and costs of the projects more than before due to the competitive environment. Mostly, decision makers usually seek different alternatives which reduce time and cost. As well as being one of the most major topics of construction management, this problem called time-cost trade-off (TCTO) which is extremely difficult to solve with traditional mathematical methods. In recent years, metaheuristic algorithms are outstanding methods in this field due to their flexible and adaptable structure. This paper presents a new algorithm called F-PSO which consists of hybridizing Firefly Algorithm (FA) with Particle Swarm Optimization (PSO). In this method, the problem is modelled with various execution modes to select the optimal one for each activity. The applicability and validity of the proposed method is confirmed by performing 18-activity project as a benchmark problem. Comparison of numerical results with different metaheuristic algorithms demonstrates the effectiveness and efficiency of F-PSO with regard to optimality of time and cost outcomes.
author	Albayrak,Gülçağ Özdemir,İlker
author_facet	Albayrak,Gülçağ Özdemir,İlker
author_sort	Albayrak,Gülçağ
title	Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO
title_short	Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO
title_full	Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO
title_fullStr	Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO
title_full_unstemmed	Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO
title_sort	multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on fa and pso
publisher	Escuela de Construcción Civil, Pontificia Universidad Católica de Chile
publishDate	2018
url	http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0718-915X2018000200304
work_keys_str_mv	AT albayrakgulca287 multimodaloptimizationfortimecosttradeoffinconstructionprojectsusinganovelhybridmethodbasedonfaandpso AT ozdemir304lker multimodaloptimizationfortimecosttradeoffinconstructionprojectsusinganovelhybridmethodbasedonfaandpso
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Multimodal optimization for time-cost trade-off in construction projects using a novel hybrid method based on FA and PSO

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