Application of cost-time profile as a criterion for optimizing an investment project

Abstract

Increasing demands for efficient resource allocation and project performance are closely related to balancing economic efficiency and implementation duration. The problem of costtime optimization is a key aspect of investment project planning from the perspective of lean production. Investors and project planners must select appropriate resources, including contractors, equipment, processes, and technology, to ensure efficient project implementation. They are always faced with the need to find a compromise between cost, quality, and time to complete the required activities. The paper analyses a project for building a 50 kW heat and electricity cogeneration plant. Various measures for cost-time optimization of the project are simulated, and their results (project costs, duration, cost-time investment) and consequences are evaluated. The findings show that faster projects offer significant advantages. The article provides important support for decision-making in projects.

Article history: Received (March 24, 2026); Revised (June 24, 2026); Accepted (July 28, 2026); Published online (October 14, 2026)