Time and Cost–Optimized Decision Support Model for Fast-Track Projects

Abstract

The fast-track method is one of the most recognized methodologies for reducing construction project schedules. However, due to the lack of definitive research to date pertaining to the effects of fast-track application in terms of time and cost, it has been difficult for project owners to determine its correct application. This paper presents the time and cost optimized decision support (TACTICS) model, and it was developed based on the fast-track methodology and genetic algorithms (GAs). TACTICS was applied to two case studies, and the results indicated that the fast-track method could be expected to deliver more efficient projects compared with using the traditional method. In particular, (1) the average reduction in project duration by applying the fast-track method was 40.48% (Case I) and 18.59% (Case II) compared with using the traditional method, and (2) the average project costs were reduced by as much as 0.39% (Case I) and 4.48% (Case II). Consequently, TACTICS could be expected to help in making a decision regarding the fast-track application and further contribute to the project scheduling expertise in the construction engineering and management body of knowledge.