Author
Wang Chen
Bio: Wang Chen is an academic researcher from Chang'an University. The author has contributed to research in topics: Multi-objective optimization. The author has an hindex of 1, co-authored 1 publications receiving 6 citations.
Topics: Multi-objective optimization
Papers
More filters
••
TL;DR: The strategic decision-making goals, decision processes, sources and characterization methods of uncertainty, intelligent algorithm followed across the globe were reviewed, and the latest development of multi-objective decision-aid tools (MODAT) for PMMS was discussed while emphasizing the importance of establishing joint MOO optimization model of multiple facilities and multiple M&R techniques forPMMS to achieve intelligent decision- making.
43 citations
Cited by
More filters
••
TL;DR: In this article , a systematic review under both scientometric and qualitative analysis is presented to understand the current state and discuss the future research trends of MOO for project improvement. But, the authors do not provide a detailed analysis of these trends.
37 citations
01 Jan 2003
TL;DR: In this article, a study has been conducted to investigate current practices on decision-making under risk and uncertainty for infrastructure project investments, and it was found that the most influential factors affecting risk and uncertainties resulted from forecasting errors.
Abstract: A study has been conducted to investigate current practices on decision-making under risk
and uncertainty for infrastructure project investments. It was found that many European
countries such as the UK, France, Germany including Australia use scenarios for the
investigation of the effects of risk and uncertainty of project investments. Different alternative
scenarios are mostly considered during the engineering economic cost-benefit analysis stage.
For instance, the World Bank requires an analysis of risks in all project appraisals. Risk in
economic evaluation needs to be addressed by calculating sensitivity of the rate of return for a
number of events.
Risks and uncertainties of project developments arise from various sources of errors including
data, model and forecasting errors. It was found that the most influential factors affecting risk
and uncertainty resulted from forecasting errors. Data errors and model errors have trivial
effects. It was argued by many analysts that scenarios do not forecast what will happen but
scenarios indicate only what can happen from given alternatives. It was suggested that the
probability distributions of end-products of the project appraisal, such as cost-benefit ratios
that take forecasting errors into account, are feasible decision tools for economic evaluation.
Political, social, environmental as well as economic and other related risk issues have been
addressed and included in decision-making frameworks, such as in a multi-criteria decisionmaking
framework. But no suggestion has been made on how to incorporate risk into the
investment decision-making process.
36 citations
••
TL;DR: In this article , the authors present and discuss their diverse perceptions and methodologies for these management system elements and further investigate the further investigations required to develop more efficient systems that optimally achieve the environmental, economic, and social objectives.
13 citations
••
TL;DR: In this paper, the authors present and discuss their diverse perceptions and methodologies for these management system elements and further investigate the further investigations required to develop more efficient systems that optimally achieve the environmental, economic, and social objectives.
13 citations
••
TL;DR: In this paper , the authors summarized the main findings of the past studies and provided some perspective reviews for compromising the economic and environmental appurtenances provoked during the road pavement life cycle.
9 citations