Using genetic algorithm to optimize the Time-Cost-Quality-Risk in construction projects and investment plans

Document Type : Original Article

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Abstract

In this paper, the optimization within the components of the survival pyramid including time, cost, quality and risk in construction has been taken into consideration. The results for other industries such as automotive, appliances and electronic devices, leading industries and etc can be used. The purpose of optimization is to create balance among time, cost, quality and risk to make the best level of customers' satisfaction and end users and to obtain the most optimal level of value for organization. In the current business environment, management accountants need tools and to develop models for decision making and planning that the reduction in delivery time and total cost of the products and with high quality in order to create value for organization. In this paper to optimize the components of the survival pyramid with genetic algorithm in order to inplamenate five case on specific problems. In this case, we optimize every one of time, cost, quality, and risk separately.

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