Impact Factor (2025): 6.9
DOI Prefix: 10.47001/IRJIET
Without doubt, construction industry is concerned with
satisfying its customers’ needs by delivering projects that achieve their
objectives and reach their expectations on a specific time, within the
specified budget. In spite of the established housing programs constructed by
governmental authorities, there is a real and irritating housing problem for
the middle and low incomes in Egypt. This problem is attributed to lots of reasons.
Most important one is the inability of the low incomers to cover the high cost
of supplies and limited time needed for construction projects that is known as time–cost
trade-off (TCT) problem. This highlighted the urge to develop innovative and
creative solutions that can deliver housing projects that meet the needs of the
users achieving their satisfaction at the most-cost effective way simultaneously.
This aim will be reached through incorporating both the concepts of Value
Engineering and multi-objective optimization strategies in developing housing
projects for the middle/low-income people. This paper tries to spot the light
on VE methodology and risk management in brief. Also, highlighting the role of
genetic algorithms as an important solution for multi-objective optimization
which is a simple method that collect the characteristics of the project,
direct costs such as (labor, material, equipment, and subcontractors, etc.),
indirect costs and with using multi elitism genetic algorithms techniques, that
improve time-cost trade-off problem, and deals with all the costs of the
project.
Country : Egypt
IRJIET, Volume 6, Issue 3, March 2022 pp. 24-34