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Developing Time-Cost & Storage Optimization Model for a Construction Project – A Linear Programming Approach Prasanna Venkatesan Ramani, Shivaram Kandasamy, Anshul Gupta, Sugeerthi MS Pages 459-466 (2024 Proceedings of the 41st ISARC, Lille, France, ISBN 978-0-6458322-1-1, ISSN 2413-5844) Abstract: Project managers in the construction industry confront challenges in managing inventories and executing projects within the scheduled time frame. In this research, a mathematical model is given for applying the Lagrange method and linear programming (LP) to tackle the time-cost and storage-related difficulties that arise in the construction project. The study's objectives were to minimize the total cost escalation and ascertain the ideal order quantity for a construction project while taking non-negative, start, crash, and floor space limits into account. The optimal order quantity was determined using MS Excel, and the crashing duration was determined by LINDO software. Program analysis produced a workable solution. The model maintained the accuracy of the analysis and the outcomes' correctness. The linear programming approach precisely predicts when each task will take less time to complete by increasing the project's cost. The Economic Order Quantity (EOQ) model was proposed to determine the ideal order quantity of building supplies. The adoption of this technology can yield instant benefits for any real-time construction job. Keywords: Construction Project, Time-cost Optimization, Linear Programming, Lagrange method, Economic Order Quantity DOI: https://doi.org/10.22260/ISARC2024/0060 Download fulltext Download BibTex Download Endnote (RIS) TeX Import to Mendeley
Ramani et al. (Mon,) studied this question.