The Analytical hierarchy process for eliciting decision preferences in asset management

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ConferenceINFRA 2005 Urban Infrastructure: Managing the Assets, Mastering the Technology: 21 November 2005, Montréal, QC
Pages131; # of pages: 31
SubjectAsset management
AbstractThere is an increasing awareness in asset management to make use of numerical optimization techniques as a decision support system. In the Municipal Infrastructure Investment Planning (MIIP) project, multi-objective optimization (MOO) is carried out using three parameters (performance, life cycle cost, and risk of failure) to prioritize rehabilitation projects. In addition, for each rehabilitation project there aretypically six alternative solutions ranging from ?complete replacement? to ?do nothing?. However, the rehabilitation prioritization should also incorporate the decision maker's preferences towards the three-optimization parameters and the six rehabilitation alternatives, as their relative importance should influence the final decision. In this paper, the analytical hierarchical process (AHP) is utilized to elicit decision-making preferences from stakeholders, and to compute the corresponding relative weights of their decisionpreferences towards the rehabilitation alternatives and the MOO parameters. The decision making approach of the various MIIP consortium project participant are highlighted and discussed. The potential applications of the AHP weights in the optimization problem are highlighted with examples.
Publication date
AffiliationNRC Institute for Research in Construction; National Research Council Canada
NoteOral Presentation
Peer reviewedYes
NRC number47721
NPARC number20377094
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Record identifier82df7895-66d9-45d7-b3cf-88410762cfde
Record created2012-07-24
Record modified2016-05-09
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