Project time–cost analysis under generalised precedence relations

Existing methods dealing with the time–cost trade-off problem, which is encountered in project planning, have focused on the solution of a basic problem that does not adequately represent actual engineering projects. The aim of this paper is to develop a solution method considering additional realistic project characteristics such as generalised activity precedence relations and external time constraints for particular activities. The proposed method is formulated as a linear/integer program and provides the optimal project time–cost curve and the minimum cost schedule. Evaluation results indicate that the method can be reliably applied to engineering projects. [Copyright &y& Elsevier]