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Optimizing time and cost simultaneously in projects with multi-verse optimizer

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Abstract

Balancing time and cost has long been a primary focus of construction project management. In this context, achieving optimal balancing time and cost objectives is crucial. The multi-verse optimizer (MVO) has emerged as a promising stochastic optimization algorithm in this field, as it efficiently explores and exploits the search space. This study proposes the MVO model as a new tool to address time–cost optimization problems (TCOPs). To evaluate MVO's performance, three benchmark test problems were used, each comprising 18 activities. The findings suggest that MVO outperforms other stochastic optimization techniques in terms of effectiveness when applied to small-scale TCOPs.

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The corresponding author can provide the data, model, or code that underlie the findings of study upon request, subject to reasonable conditions.

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Acknowledgements

We would like to express our gratitude to Ho Chi Minh City University of Technology (HCMUT), VNU-HCM, for their provision of time and resources in support of this study.

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No specific funding was received for this research from any public, commercial, or not-for-profit sector grant agencies.

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Authors and Affiliations

  1. Faculty of Civil Engineering, Ho Chi Minh City University of Technology (HCMUT), Vietnam National University (VNU-HCM), Ho Chi Minh City, Vietnam

    Pham Vu Hong Son & Nghiep Trinh Nguyen Dang

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  1. Pham Vu Hong Son
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  2. Nghiep Trinh Nguyen Dang
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The authors collectively composed the main manuscript, generated all figures and tables, and thoroughly reviewed the revisions prior to submission.

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Correspondence to Nghiep Trinh Nguyen Dang.

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Son, P.V.H., Nguyen Dang, N.T. Optimizing time and cost simultaneously in projects with multi-verse optimizer. Asian J Civ Eng 24, 2443–2449 (2023). https://doi.org/10.1007/s42107-023-00652-y

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