Case Studies in Implementing Cross-asset, Multi-objective Resource Allocation PDF Download

Author:
Publisher:
ISBN:
Category : Multiple criteria decision making
Languages : en
Pages : 103

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Author: Juan Diego Porras-Alvarado
Publisher:
ISBN:
Category :
Languages : en
Pages : 298

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Resource allocation mechanisms have become a major issue for transportation agencies in the United States and around the world. For this reason, transportation agencies are exploring alternatives to modify traditional allocation mechanism due to budgetary challenges generated by the decrease in funding and the increasing cost of preserving and operating transportation systems. Transportation asset management (TAM) practices enable agencies to change the operation and management of transportation infrastructure from the traditional concept of “public-owned” systems to more business-oriented processes. One of the main concerns with the TAM framework and its implementation is the absence of an organized process for cross-asset resource allocations. Additionally, most of the alternative methods for funding allocations focus on maximizing infrastructure performance under budget constraints, but ignore the consideration of equity or fairness. The objective of this study is to develop an innovative methodological framework for cross-asset resource allocations, yielding a data-oriented approach to enhancing infrastructure management. The allocation module is comprised of three resource allocation mechanisms following a top-down approach: a fair division approach based on asset performance, a performance-based multi-objective optimization, and an asset value-based multi-objective optimization. In the first mechanism, the fair division method is used to allocate resources in such a way that all parties involved believe they are receiving a fair share of the available resource based on established utility functions. Then, Collective Utility Functions (CUFs) are employed to perform the resource allocation, which results in total utility and total envy values. These values are used to conduct trade-off analyses of the different allocations based on the CUFs. Under the second procedure, a multi-objective optimization formulation is employed to integrate efficiency and equity, where equity is taken into consideration by using utility and envy concepts, while efficiency is incorporated by maximizing performance. In the third mechanism, an innovative asset value methodology is integrated into the cross-asset resource allocation process, serving as a common comparative measure between assets. To demonstrate the applicability of the proposed methodological framework, a case study was conducted using two asset groups, pavements and bridges, from the roadway network of the Austin District located in Texas. Results from the case study shows that the proposed methodological framework has great potential as a tool to support highway agencies in performing cross-asset resource allocations at the network level.

Author: Muddassar Sarfraz
Publisher: BoD – Books on Demand
ISBN: 1839689056
Category : Business & Economics
Languages : en
Pages : 303

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Risk management is a very important process in the context of global and organizational sustainability. It helps organizations prepare for organizational risks and reduce costs before they occur. Risk management contributes to the achievement of organizational objectives and to the development of organizational benefits and risk opportunities. As such, this book identifies strategic challenges for risk management assessment and practices, examines potential factors that affect business growth, and offers new opportunities for enterprises. It includes fifteen chapters that cover such topics as sustainable management in the construction industry, risk communication in the age of COVID, managing tax risks in mergers and acquisitions, corporate governance, and much more.

Author: Harry S. Cohen
Publisher: Transportation Research Board
ISBN: 0309258448
Category : Political Science
Languages : en
Pages : 133

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"TRB's Transit Cooperative Research Program (TCRP) Report 157: State of Good Repair: Prioritizing the Rehabilitation and Replacement of Existing Capital Assets and Evaluating the Implications for Transit presents a framework that builds upon a set of fundamental concepts and provides a basic set of steps for transit agencies to follow when evaluating and prioritizing capital asset rehabilitation and replacement investments. In addition to the printed report, an analytical approach and set of spreadsheet tools were developed to support the framework. These tools address how to evaluate rehabilitation and replacement actions for specific types of transit assets, and how to prioritize candidate rehabilitation and replacement actions."--Publisher's description.

Author: Dilip Datta
Publisher: LAP Lambert Academic Publishing
ISBN: 9783848441358
Category :
Languages : de
Pages : 216

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A resource allocation problem (RAP) is encountered in a variety of areas in operations research and management science. It is a combinatorial optimization problem, where a limited amount of resources are to be allocated to certain number of competitive events in order to achieve the most effective allotment of the resources. Although the properties of an RAP can help in characterizing another RAP, different RAPs are usually studied independently without exploring the similarities among them. Therefore, with the aim of exploring the similarities among different types of RAPs, two versions of NSGA-II, a well-known multi-objective evolutionary algorithm, are developed as the solution techniques for two challenging RAPs of quite different natures, namely the university class timetabling problem and the land-use management problem. Finally, the similarities between the problems, as well as between their solution techniques, are analyzed through a number of case studies under multiple objectives and different sets of hard and soft constraints.

Author: John Wiegmann
Publisher:
ISBN: 9780309258715
Category : Bridges
Languages : en
Pages : 100

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"TRB's National Cooperative Highway Research Program (NCHRP) Report 736: Resource Allocation Logic Framework to Meet Highway Asset Preservation presents a logic framework for allocating limited highway asset preservation funds among competing demands in order to help maximize system performance. The report also presents a spreadsheet-based computational tool that implements the framework. Prototypical application scenarios and case-study examples illustrate how transportation agency staff may use the framework to assist resource allocation decision making"--Publication information.

Author: Prashant A. Shirolkar
Publisher:
ISBN:
Category :
Languages : en
Pages : 272

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Author: Michelle Maggiore
Publisher:
ISBN: 9780309308526
Category : Performance
Languages : en
Pages : 113

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"TRB's National Cooperative Highway Research Program (NCHRP) Report 806: Guide to Cross-Asset Resource Allocation and the Impact on Transportation System Performance provides guidance and a spreadsheet tool to help managers with applying data-driven techniques to project prioritization, program development, scenario analysis, and target setting. The tool and guidebook are intended to assist managers with analyzing and communicating performance impacts of investment decisions. The software is available online only and can be download from TRB's website as an ISO image."--Publisher's description.

Author: Ivan Mutis
Publisher: Springer
ISBN: 3030002209
Category : Technology & Engineering
Languages : en
Pages : 914

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This proceedings volume chronicles the papers presented at the 35th CIB W78 2018 Conference: IT in Design, Construction, and Management, held in Chicago, IL, USA, in October 2018. The theme of the conference focused on fostering, encouraging, and promoting research and development in the application of integrated information technology (IT) throughout the life-cycle of the design, construction, and occupancy of buildings and related facilities. The CIB – International Council for Research and Innovation in Building Construction – was established in 1953 as an association whose objectives were to stimulate and facilitate international cooperation and information exchange between governmental research institutes in the building and construction sector, with an emphasis on those institutes engaged in technical fields of research. The conference brought together more than 200 scholars from 40 countries, who presented the innovative concepts and methods featured in this collection of papers.

Author: National Cooperative Highway Research Program
Publisher: Transportation Research Board
ISBN: 0309155002
Category : Political Science
Languages : en
Pages : 133

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TRB's National Cooperative Highway Research Program (NCHRP) Report 666: Target Setting Methods and Data Management to Support Performance-Based Resource Allocation by Transportation Agencies - Volume I: Research Report, and Volume II: Guide for Target-Setting and Data Management provides a framework and specific guidance for setting performance targets and for ensuring that appropriate data are available to support performance-based decision-making. Volume III to this report was published separately in an electronic-only format as NCHRP Web-Only Document 154. Volume III includes case studies of organizations investigated in the research used to develop NCHRP Report 666.