Research on Time-Cost Optimization Model of Construction Projects

Time-cost optimization problem is one of the most important aspects of construction project planning and control. Construction planners must select appropriate resources, including crew size, equipment, methods and technologies to perform tasks of a construction project. In general, there is a trade-off between time and cost to complete a task; the less expensive the resources, the long it takes. Such problems are difficult to solve because they do not have unique solutions. Especially for large construction projects, the current research on project duration optimization cannot meet the growing demands because it is so complicated and there are so many uncertain problems in it. On the basis of Critical Path Method (CPM), this paper analyzed the relationship between time and cost, established time-cost optimization models of construction projects and obtained the condition of optimizing duration. It provides scientific basis for project decision-making and supports the decider powerfully.