Date of this Version
JOURNAL OF CIVIL ENGINEERING AND MANAGEMENT ISSN 1392-3730 / eISSN 1822-3605 2016 Volume 22(2): 187–198 doi:10.3846/13923730.2014.897966
Existing research on construction time-cost tradeoff issues rarely explore the origin of the crashing cost. Crashing cost function was either assumed without much justification, or came from historical data of some real projects. As a result the conclusions of the papers can hardly be used to guide allocations of labor and equipment resources respectively. The authors believe Cobb-Douglas function provides a much-needed piece to modeling the cost functions in the construction time-cost tradeoff problem during the crashing process. We believe this new perspective fills a gap of existing time-cost tradeoff research by considering project duration, labor and equipment cost as parameters of the Cobb- Douglas production function. A case study was presented to show how the proposed framework works. Our conclusion is that introducing Cobb-Douglas function into time-cost tradeoff problem provides us extra capacity to further identify the optimal allocations of labor and equipment resources during crashing.