Abstract
A Strength Pareto Evolutionary Algorithm (SPEA) is proposed and employed to devise a set of optimum finance-based schedules of multiple projects being implemented simultaneously by a construction corporate. The problem involves the minimization of the conflicting objectives of financing costs, duration of the group of projects, and the required credit. The SPEA was employed to obtain the Pareto-optimal fronts for different two-objective combinations. In addition, a fuzzy-based technique was utilized to help the corporate decision makers select the best compromise solution over the Pareto-optimal solutions. The SPEA algorithm was validated using a multiple objective time/cost trade-off algorithm from the literature. The proposed approach has been developed and implemented on two simultaneous projects of 25 and 30 activities. The results obtained by the proposed SPEA and the developed fuzzy-based approach demonstrate its potential and effectiveness in finance-based scheduling of multiple projects from the corporate perspective.
| Original language | English |
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| Title of host publication | EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering |
| Editors | Walid Tizani |
| Publisher | Nottingham |
| ISBN (Electronic) | 9781907284601 |
| State | Published - 2019 |
Publication series
| Name | EG-ICE 2010 - 17th International Workshop on Intelligent Computing in Engineering |
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Bibliographical note
Publisher Copyright:© Nottingham University Press
Keywords
- Construction project
- Financing
- Multiobjective optimization
- Scheduling
ASJC Scopus subject areas
- Computer Science Applications
- General Engineering