Dealing with uncertainty through real options for the multi-objective design of water distribution networks
Copyright © 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/3.0/)
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.
European Union - project DESAFIO
16th Water Distribution System Analysis Conference, WDSA2014 — Urban Water Hydroinformatics and Strategic Planning
Vol. 89, pp. 856 - 863