Integrating the multi-objective elephant herding optimization based time–cost trade-off model with earned value management

A construction project consists of many interconnected activities, and each activity can be performed by different alternatives differing in resource consumption, completion time and completion cost. Before performing the actual construction, noteworthy amount of attention has been given to construction project scheduling while solving the time–cost trade-off problems (TCTPs). On the other hand, based on earned value management (EVM) concept, the project should be rescheduled in the execution phase if it gets off-track from the actual budgeted time and cost. For this purpose, at first, this paper determines the multi-objective elephant herding optimization (MOEHO) based best combination of activities alternatives and then predict the overall performance of the project at a particular point of execution using EVM concept. The new alternatives are required to be allocated to the project’s activities if the predicted performance of the project indicates towards rescheduling. The developed EVM-TCT model can facilitate the construction managers to schedule, control and reschedule the real-life construction projects before and during the execution phase. The developed model is also applied to a case study project to demonstrate its applicability and efficiency. Moreover, the superiority of the developed model is demonstrated after comparing the obtained results against those which were obtained through existing TCT models. © 2022, Crown.