Published Paper Details:

The optimal allocation of resources to different project tasks involving different and usually conflicting objectives is one of the recurring challenges for a project manager. The main aim of this research is to optimize the time and cost of a project by analyzing their trade-off. Time cost optimization is one of the main obstacles in project scheduling. This paper proposes a new approach for time cost optimization with fuzzy logic in MATLAB. The project direct cost is altered by difference in resource utilization and Activity duration. The proposed model is formulated using fuzzy theory combining CPM computations, time-cost trade off analysis. By adopting the MATLAB software for ranking process, for each case facilitates obtaining the optimum result. Therefore, through this process now the decision-maker can quite precisely estimate the effect of the project deadline on a total project cost before the submission of a tender. The advantages of the proposed approach are demonstrated through an application example and with an example of the time-cost trade-off analysis.