Application of particle swarms for project time-cost optimization

Abstract

The time-cost optimization of a construction project, as related to the costs of its activities and the total project realization costs, is considered in this paper. Direct and indirect costs, durations of all activities, project realization time, and relations between activities, are taken into account. The particle swarm optimisation method is applied for solving this nonlinear problem. The authors adjusted this method for the time-cost optimization, and developed for that purpose an appropriate computer programme in the scope of the MATLAB programming system.