Selecting and scheduling interrelated projects: application in urban road network investment

Elham Shayanfar and Paul M. Schonfeld

International Journal of Logistics Systems and Management, 2018, vol. 29, issue 4, 436-454

Abstract: Decisions about the selection of projects, alternatives, investments, operating policies and their implementation schedules are major subjects in various fields including operations research, financial analysis, business management, engineering economy and transportation planning. In these various disciplines sufficiently good methods have been developed for planning and prioritising projects when interrelations among those projects are negligible. However, methods for analysing interrelated alternatives are still inadequate. We propose a combinatorial method for evaluating and scheduling interrelated roadnetwork projects. In particular, this paper demonstrates how a traffic assignment model can be combined effectively with a genetic algorithm (GA) in a multi-period analysis to select and schedule road network projects while capturing interactions among those projects. The goal is to determine which projects should be selected and when they should be funded in order to minimise the present value of total system cost over a planning horizon, subject to budget flow constraints.

Keywords: project selection and scheduling; genetic algorithm; GA; project interrelations; user equilibrium; project evaluation; system optimisation; planning and prioritising projects; minimising system cost. (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=90472 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijlsma:v:29:y:2018:i:4:p:436-454

Access Statistics for this article

More articles in International Journal of Logistics Systems and Management from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().