A Multiple Criteria Decision Making Model for Road Investment ...
A Multiple Criteria Decision Making Model for Road Investment ...
A Multiple Criteria Decision Making Model for Road Investment ...
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A <strong>Multiple</strong> <strong>Criteria</strong> <strong>Decision</strong> <strong>Making</strong> <strong>Model</strong><br />
<strong>for</strong><br />
<strong>Road</strong> <strong>Investment</strong> Management<br />
Qindong Li<br />
CRC CI PhD Scholar<br />
RMIT University
The Challenges<br />
Focus Old paradigm New paradigm<br />
Accountability Financial only <strong>Multiple</strong> Dimensions<br />
<strong>Decision</strong> <strong>Criteria</strong> Quantitative Quantitative&Qualitative<br />
Life-Cycle Analysis Product Function<br />
Integration Internal<br />
Cross Work Categories<br />
Transparency Close<br />
Public Participation<br />
Funds Public only Public-Private Partnerships
Current <strong>Decision</strong>-making<br />
Project Appraisal<br />
Process<br />
Economic Social Environmental<br />
Project Cost & User<br />
Costs <strong>Model</strong>s<br />
Safety, etc.<br />
Polution, Noise,<br />
etc.<br />
Monetisation<br />
Benefit Cost<br />
Analysis<br />
Network Optimisation<br />
Project Alternatives<br />
Optimisation<br />
<strong>Decision</strong>
Proposed <strong>Decision</strong>-making<br />
Project Appraisal<br />
Process<br />
Risk Analysis<br />
Public Risk<br />
Perception<br />
Economic Social Environmental<br />
Project Cost & User<br />
Costs <strong>Model</strong>s<br />
Safety, etc.<br />
Polution, Noise,<br />
etc.<br />
<strong>Multiple</strong> <strong>Criteria</strong><br />
Analysis<br />
Network Optimisation<br />
Project Alternatives<br />
Game Theory<br />
<strong>Decision</strong>
Research Objectives<br />
• <strong>Investment</strong> impact identification<br />
• Budget allocation across portfolio (Routine<br />
Maintenance, Programmed Maintenance, Rehabilitation, and Capital<br />
Works (Improvement)).<br />
• Budget allocation across sub-networks
What are to be Considered<br />
Interanl Considerations<br />
External Considerations<br />
Management<br />
Employee<br />
Government<br />
Public<br />
Regional<br />
Interests<br />
Global<br />
Interests<br />
Economic Environmental Social<br />
Construction Costs Risk Management Political Commitment<br />
Maintenance Costs<br />
Social Image<br />
Operational Costs<br />
Asset Condition<br />
Budget Constraints<br />
<strong>Investment</strong> Efficiency<br />
Land Take<br />
Technology Innovation<br />
Employment Working Environment Work Safety<br />
Pride<br />
Budget Optimisation Environmental Regulations Social Equity<br />
Land Development<br />
Governance<br />
Tax Revenue<br />
Portfilio Integration<br />
Private Involvement<br />
Travel Time Saving Health Travel Safety<br />
Vehicle Operating Costs Noise<br />
Creation<br />
Property Value<br />
Severance<br />
Employment Growth<br />
Service Quality<br />
Business Growth Local Air Condition Assessibility<br />
Transport Efficiency Water Pollution<br />
Landscape<br />
Land Amenity<br />
International Traffic Greenhouse Gas<br />
Emmission
Methodology<br />
• Choice <strong>Model</strong>: identify public perception and<br />
<strong>for</strong>mulate investment goals.<br />
• Goal Programming: representing decision<br />
preferences at sub-network level.<br />
• Genetic Algorithms: searching the optimal<br />
solutions.<br />
• Cooperative Game players: budget allocation<br />
across sub-networks.
Network Optimisation<br />
Dis trict<br />
Propos als<br />
Constraints<br />
Budge t<br />
Dis trict<br />
Preferences<br />
Project<br />
Candidates<br />
Goal Programm ing<br />
Geneti c Algori thms<br />
Maxim ised Goal<br />
Achievement Index<br />
District Goal Achievement<br />
Index<br />
Cooperative Game Theory<br />
Maxim ised Regional<br />
Goal Achievement<br />
Index<br />
Regional Budget<br />
Allocation<br />
Advised District<br />
Program
Thank You
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