Adaptive Resource Management in Construction Projects: Integrating Behavioral Insights and Computational Models for Optimization
Keywords:
Dynamic pricing, Resource optimization, Construction project management, Behavioral analysis, Agent-based modeling, Stakeholder decision-making, Market-driven pricing strategies, Cost management, Resource allocation, Efficiency in constructionAbstract
Dynamic pricing has emerged as a transformative approach for optimizing resource allocation in construction projects, addressing the challenges of fluctuating market conditions and resource constraints. This study explores the integration of dynamic pricing with resource optimization strategies to improve efficiency and decision-making in construction project management. By leveraging behavioral analysis and computational modeling, the research examines how stakeholders respond to dynamic pricing mechanisms and their implications for project timelines, cost management, and resource utilization. An agent-based modeling (ABM) framework is employed to simulate various dynamic pricing scenarios, while empirical experiments provide insights into the behavioral responses of project managers and suppliers. The findings reveal that dynamic pricing can significantly enhance resource optimization and project outcomes when designed to balance profitability, fairness, and stakeholder satisfaction. This research provides a practical framework for implementing dynamic pricing strategies in construction, offering recommendations for achieving sustainable and efficient project management practices.