Dealing with uncertainty through real options for the multi-objective design of water distribution networks
Marques, J.; Cunha, M.C.; Savic, Dragan; et al.Giustolisi, O.
Date: 17 December 2014
Article
Journal
Procedia Engineering
Publisher
Elsevier
Publisher DOI
Abstract
Water supply systems are very important for societies. If these systems are to fonction properly uncertainty must be handled. Flexibility is essential when operating systems for long-term planning horizons where uncertainty is high. This work proposes a multi-objective framework based on Real Options with three objectives. A Pareto ...
Water supply systems are very important for societies. If these systems are to fonction properly uncertainty must be handled. Flexibility is essential when operating systems for long-term planning horizons where uncertainty is high. This work proposes a multi-objective framework based on Real Options with three objectives. A Pareto front of solutions is traced whilst satisfying the constraints of the model. The hydraulic constraints are checked using EPANET hydraulic simulator. The model is solved by means of a multi-objective simulated annealing algorithm and the results are presented through a visualization tool and by showing some water network designs for specific solutions.
Engineering
Faculty of Environment, Science and Economy
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