Railway projects prioritisation for investment : application of goal programming

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Title: Railway projects prioritisation for investment : application of goal programming
Authors: Ahern, Aoife
Anandarajah, Gabrial
Permanent link: http://hdl.handle.net/10197/2864
Date: Jan-2007
Online since: 2011-03-21T12:46:39Z
Abstract: This research develops a weighted integer goal-programming model for prioritising railway projects for investment. The goal of the model is to prioritise the identified projects for investment while maximising the objectives and meeting the budget limit for capital investment. The model minimises the goal deviations of the objectives. The objectives of the model include quantitative and qualitative attributes. The model is applied to prioritise the new railway projects, which have a total cost of Euro 2 billion for capital investment, identified and analysed by Department of Transport, Ireland. Even though the objective is maximising all the attributes, the investment decision is subject to financial availability. The study recommends investment options at different capital investment levels when the decision is made on the basis of economic benefits, revenue or qualitative goal scores.
Funding Details: Not applicable
Type of material: Journal Article
Publisher: Elsevier
Journal: Transport Policy
Volume: 14
Issue: 1
Start page: 70
End page: 80
Copyright (published version): 2006 Elsevier Ltd
Keywords: RailwayTransport policyProject prioritisation
Subject LCSH: Railroads--Finance
Railroads--Capital investments
Railroads and state
Decision making--Mathematical models
DOI: 10.1016/j.tranpol.2006.10.003
Other versions: http://dx.doi.org/10.1016/j.tranpol.2006.10.003
Language: en
Status of Item: Peer reviewed
Appears in Collections:Civil Engineering Research Collection

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