The optimization of the three objectives, time, cost and quality, is the important project management content. This paper applies co-evolutionary algorithm to the optimization of the three engineering project objectives. The populations of time, cost and quality are separately designed for cooperative evolutionary operators in the paper, which are coordinated and compromised to get the coordination solution in pareto optimum. All the programming algorithms are through Matlab, and finally the feasibility and superioirty of this algorithm is proved by a engineering project. �� (2012) Trans Tech Publications, Switzerland.