Project Appraisal of Rail Projects Using Fuzzy Sets Theory
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Project Appraisal of Rail Projects Using Fuzzy Sets Theory. / El Cheikh, Marwa; Al Sheikh, Dana; Burrow, Michael.
In: The International Journal of Railway Technology, Vol. 2, No. 1, 2013, p. 39-62.Research output: Contribution to journal › Article › peer-review
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TY - JOUR
T1 - Project Appraisal of Rail Projects Using Fuzzy Sets Theory
AU - El Cheikh, Marwa
AU - Al Sheikh, Dana
AU - Burrow, Michael
PY - 2013
Y1 - 2013
N2 - 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.
AB - 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.
KW - fuzzy alpha-cut
KW - plausible range
KW - fuzzy sets theory
KW - fuzzy present worth
KW - fuzzy possibility theory
KW - fuzzy benefit-cost ratio
KW - fuzzy future worth
U2 - 10.4203/ijrt.2.1.2
DO - 10.4203/ijrt.2.1.2
M3 - Article
VL - 2
SP - 39
EP - 62
JO - The International Journal of Railway Technology
JF - The International Journal of Railway Technology
SN - 2049-5358
IS - 1
ER -