Stochastic Multi-variate Performance Trade-off Method for Technical Tender Evaluation

This paper presents a computational method called Stochastic Multi-variate Performance Trade-off (SMPT), which identifies optimal sets of construction methods for activities, hence appropriately trading-off the project completion time, cost, environmental impact, and quality. SMPT computes exact sol...

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Bibliographic Details
Published in:KSCE journal of civil engineering 2018, 22(11), , pp.4240-4253
Main Authors: Yi, Chang-Yong, Gwak, Han-Seong, Kim, Byung-Soo, Lee, Dong-Eun
Format: Article
Language:English
Subjects:
Business metrics
Civil Engineering
Completion time
Computation
Computer applications
Computer simulation
Construction
Construction Management
Construction methods
Critical path
Engineering
Environmental impact
Evaluation
Exact solutions
Genetic algorithms
Genetic analysis
Geotechnical Engineering & Applied Earth Sciences
Identification methods
Indicators
Industrial Pollution Prevention
Mathematical models
Methods
Monte Carlo simulation
Optimization
Production scheduling
Tradeoffs
토목공학
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Summary:This paper presents a computational method called Stochastic Multi-variate Performance Trade-off (SMPT), which identifies optimal sets of construction methods for activities, hence appropriately trading-off the project completion time, cost, environmental impact, and quality. SMPT computes exact solution(s), near-optimal solution(s), and stochastic optimal solution(s) using an enumerative analysis, genetic algorithm, and simulation, respectively. This study is of value to project planners because SMPT identifies the sets of construction methods that satisfy user-defined constraints relative to specific performance indicators. SMPT is also of relevance to researchers because it facilitates experiments using different performance indicators, either jointly or independently. Three test cases verify the validity of the computational methods.
ISSN:1226-7988
1976-3808
DOI:10.1007/s12205-018-2563-4