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Time, cost and quality are important factors to construction project management. Tradeoff optimization among them is significant for the overall benefits of construction projects. In this paper, a model of multi-attribute utility function is established to study the tradeoff among time, cost and quality based on inter-related linear programming functions. In order to get the optimal decision result, an effective algorithm based on the improved particle swarm optimization algorithm and critical path method(CPM) are used according to the characteristic of optimization problem. At last, a case study on heavy repair of instrument control system for hot blast stove is given to verify the feasibility and practicability of the model.