The impact of time-cost tradeoff on the Internal Rate of Return for hydropower construction

The previous approach solved the time-cost tradeoff problem without considering the impact of Internal Rate of Return (IRR) of the project. The present paper incorporates it into project time-cost tradeoff for hydropower construction. The research on performance and the tradeoffs between time-cost and performance is of significance when the lasting time of the construction is uncertain. It is also pointed out that the relative importance of each activity for managerial purposes in polynomial time because the probability that each activity will be critical. The methodology provides the means to obtain the optimal time-cost scheduling of expected completion times as well as the variability in these time, cost and performance estimates. Two examples of hydropower construction are used to demonstrate the application.