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Duration and Labor Resource Optimization for Construction Projects—A Conditional-Value-at-Risk-Based Analysis

Author(s):
ORCID




Medium: journal article
Language(s): English
Published in: Buildings, , n. 2, v. 14
Page(s): 553
DOI: 10.3390/buildings14020553
Abstract:

The complexity and uncertainty of construction projects contribute to low efficiency in the construction industry. This research applied the Takt-time planning method to optimize the construction working process, and proposed a risk control framework based on Value at Risk (VaR) and Conditional Value at Risk (CVaR) approaches to explore and predict a project schedule and cost performance under different scenarios. This research selected a high-rise residential building project for a case study and collected 1672 productivity data samples. Arena Simulation models were established based on 90 combinations of labor assignments to assess Takt-time planning strategies’ impact on project performance in four scenarios. The VaR and CVaR evaluations at 75% and 90% confidence levels were compared to balance project benefits and risks. Without any overtime or additional workers, this research found a Takt-time planning method that can reduce the project duration by 20.2% and labor costs by 2.1% at the same time, using a labor assignment of 12 bar placers, 12 carpenters, and 5 pipefitters. The findings can assist construction managers to achieve a shorter duration, reduced cost, and safer work environment, which will be very effective and beneficial to improve project overall performance.

Copyright: © 2024 by the authors; licensee MDPI, Basel, Switzerland.
License:

This creative work has been published under the Creative Commons Attribution 4.0 International (CC-BY 4.0) license which allows copying, and redistribution as well as adaptation of the original work provided appropriate credit is given to the original author and the conditions of the license are met.

  • About this
    data sheet
  • Reference-ID
    10773815
  • Published on:
    29/04/2024
  • Last updated on:
    05/06/2024
 
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