This paper draws attention to project trade-offs significance in project management and critically reviews the current state of the knowledge on the elements to be considered and the methods to resolve trade-off decisions. Traditionally the elements to be considered in trade-offs are mainly limited to time and cost and to some extent quality or risk or the well-known Project Triangle. The trade...

P and time are integral dimensions of virtually any decision. To treat them together, we consider the prospect of receiving outcome x with a probability p at time t. We define risk and time distance, and show that if these two distances are traded off linearly, then preferences are characterized by three functions: a value function, a probability discount rate function, and a psychological dist...

Time-cost trade off problem is one of the highly important issues in project accomplishment and has been ever taken into consideration by project managers. Time and cost as two critical objectives of construction project management, are not independent but intricately related. Time-cost optimization may be defined as a process to identify suitable construction activities for speeding up, and fo...