A Heuristic Approach for Selecting Highway Investment Alternatives

Zongzhi Li · Sunil Madanu · Bei Zhou · Yuanqing Wang · Montasir M. Abbas

32 citations0/0 files storedComputer-Aided Civil and Infrastructure Engineering

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Transportation Planning and Optimization Vehicle Routing Optimization Methods Optimization and Mathematical Programming

Abstract

Abstract: A heuristic approach is developed for systemwide highway project selection. It can assess changes in total project benefits using different project implementation options under budget uncertainty and identify the best option to achieve maximized total benefits. The proposed approach consists of a stochastic model formulated as the zero/one integer doubly constrained multidimensional knapsack problem and an efficient heuristic solution algorithm developed using the Lagrange relaxation technique. A method is also introduced to improve the upper bound for the objective function by simultaneously changing multiple Lagrange multipliers. The approach is applied in a computational study to obtain a comprehensive highway investment plan for a State-maintained highway system in the United States.

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References

1998Introduction to Stochastic Programming 1955Three Problems in Rationing Capital 1964Mathematical Programming and the Analysis of Capital Budgeting Problems.1997Scheduling/Cost Optimization and Neural Dynamics Model for Construction 2002Life‐cycle cost optimization of steel structures 2001Resource Scheduling Using Neural Dynamics Model of Adeli and Park 1999CONSCOM: An OO Construction Scheduling and Change Management System 2003Risk-based Life-cycle Costing of Infrastructure Rehabilitation and Construction Alternatives

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