Flexible Design of Airport System Using Real Options Analysis - MIT

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12/14/2007 1.231 Planning and Design of Airport System Dai Ohama new project really optimal? Can the design of this project respond to the future uncertainty? The current design of Runway D consists of the Runway (R/W) and the Parallel Taxiway (PT/W). At the Runway D, airplanes depart from south to north and land from north to south, and the projected capacity is based on this operation. A parallel taxiway is usually necessary for a runway since airplanes have to move to a runway in order to take off and to go to terminal after landing. But at this Runway D, a parallel taxiway will be used only when those airplanes which are running for takeoff stop and return to the terminal. This possibility is very low. Because there is turning pad at the end of the runway, it is possible that those airplanes which are running for takeoff return to the terminal by using this area. Therefore, the operation frequency of the PT/W is extremely low. In addition, the area at the south edge of the runway (S/E), is also not used since airplanes do not depart and land this way. Therefore, PT/W & S/E are not necessary for the currently planned operation, and it can be said that this runway island is not designed optimally. This project was based on taxpayers’ money (¥570 billion) and it is excessively invested, so it is indispensable to evaluate if the PT/W and S/E is worthwhile investing or not. North Departure Runway (R/W) South Arrival Parallel Taxiway (PT/W) South Edge (S/E) In the currently designed operation, these areas are not necessary. Existing Airport Figure 2-5 Operation Concepts of Runway D Term Project: Flexible Design of Airport System Page 4 of 22
12/14/2007 1.231 Planning and Design of Airport System Dai Ohama These areas such as PT/W and S/E would be used if airplanes depart from north to south and land from south to north. Thus, if they need this operation in the future, they should be constructed, otherwise they should not be constructed. 2.4 Projected Capacity of Airport So when are such departure and landing necessary? In the current plan, when north wind blows, runway B and D are used for departure and runway A and C are used for landing. When the south wind blows, runway A and C are used for departure and runway B and D are used for landing. In this planning, during south wind, only 12 a/c land at the runway D per hour, while during north wind 28 a/c depart from the runway D per hour. This is because runway usages are decided so that the entire capacity of the airport could be maximized. However, at the runway D, if airplanes depart from N to S and land from S to N, it is possible for the entire capacity of the airport to be increased. North Wind Departure: B-12 ac/hr D-28 Landing : A-28 ac/hr C-12 Total : 40 ac/hr South Wind Departure: A-22 ac/hr C-18 Landing : B-28 ac/hr D-12 Total : 40 ac/hr Figure 2-6 Currently Designed Capacity Source: Ministry of Land, Infrastructure and Transport in Japan, Kanto Regional Development Bureau [2] 2.5 Flexible Design As a matter of fact, estimating this capacity is very complicated because all of four Term Project: Flexible Design of Airport System Page 5 of 22
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Flexible Design of Airport System Using Real Options Analysis - MIT

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