Project Appraisal of Rail Projects Using Fuzzy Sets Theory
Research output: Contribution to journal › Article › peer-review
Colleges, School and Institutes
There are significant uncertainties associated with the economic evaluation of infrastructure projects and as a result methods have been developed to help quantify and manage the associated risk. To address the limitations inherent in traditional methods this paper proposes a new mathematical model, based on fuzzy sets theory which can be used as a decision support tool to select the preferred investment option. Thus the developed method serves as a readily implemented sensitivity analysis tool for use in the arena of uncertain decision-making.
|Journal||The International Journal of Railway Technology|
|Publication status||Published - 2013|
- fuzzy alpha-cut, plausible range, fuzzy sets theory, fuzzy present worth, fuzzy possibility theory, fuzzy benefit-cost ratio, fuzzy future worth