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GA Based Multi-Objective Time-Cost Optimization in a Project with Resources Consideration

Project planner's main goal is to complete project with minimal time as well as minimal cost. Much effort (e.g. resources which demand cost) is required to complete the project in shorter time. There is a trade-off relationship between activity duration and its resources. This study employed a GA based multi-objective approach for time-cost trade- off using resources-time tradeoff as input. Combining with modified adaptive weight approach (MAWA), this proposed optimization model can find out best optimal solution and Pareto front which provides flexibility to planners and decision makers in making efficient time-cost decisions. This proposed model was developed in MATLAB and applied to test problems. However, it is illustrated that this model could be useful to solve bigger networks in practice.