Evolution of Time-Cost Trade-Off Methods and Parameters from 1960 to 2026: An Analytical Review of the Literature

چکیده

The management of time and cost is a critical aspect of project management and plays a major role in the successful delivery of projects across various industries. This paper presents an analytical review of the evolution of time-cost trade-off (TCT) methods and parameters from 1960 to 2025. By tracing the historical development of TCT methodologies, this study categorizes them into traditional, modern, and advanced frameworks. Each category is examined in terms of its foundational principles, mathematical modeling, applicability, advantages, limitations, and influence on project management practices. The review highlights how TCT methods have evolved from deterministic optimization techniques to more sophisticated approaches incorporating uncertainty, multi-objective optimization, and intelligent decision-support systems. The analysis reveals substantial progress in computational techniques, the integration of risk management, and the emergence of technology-enabled methods such as machine learning, artificial intelligence, and real-time data analytics. Furthermore, increasing attention to sustainability and agile project management has expanded the scope of TCT research beyond conventional time and cost considerations. The findings underscore the importance of adapting TCT methods to contemporary project management challenges and suggest future research directions focused on integrating advanced computational models, sustainability metrics, and adaptive decision-making frameworks to improve project performance and resource utilization.