A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
A Multi-Objective Decision Support System for PPP Funding Decisions
PPP is an innovative delivery method used as an option to leverage public funds by attracting private investment into public projects to make the delivery of previously impossible projects possible. Leveraging resources to build more infrastructure increases the output (quantity) of funds; however, besides leveraging resources, the public agency should also increase the outcome (benefits) of those projects by utilizing more efficient funding strategies. Currently, some project level evaluation methods such as VfM and BCA are being practiced to evaluate PPPs; however, those methods fail to consider the overall benefits and costs of PPPs for multiple stakeholders, and they do not provide much assistance in terms of comparison between different projects in portfolio level. This study introduces a Multi-Objective Decision Support System (MODSS) which integrates quantitative and qualitative aspects of PPPs and calculates the utility function based on different interests of multiple stockholders. The ROR on private investment, the regional economic benefits for local people, and long term national level benefits are considered as the main attributes to address different objectives of different stakeholders. This two level MODSS model assists public agencies such as FHWA to better spend their resources in special programs such as TIFIA by optimizing their funding portfolio and allocating the available funds into the optimal portfolio of PPP projects.
A Multi-Objective Decision Support System for PPP Funding Decisions
PPP is an innovative delivery method used as an option to leverage public funds by attracting private investment into public projects to make the delivery of previously impossible projects possible. Leveraging resources to build more infrastructure increases the output (quantity) of funds; however, besides leveraging resources, the public agency should also increase the outcome (benefits) of those projects by utilizing more efficient funding strategies. Currently, some project level evaluation methods such as VfM and BCA are being practiced to evaluate PPPs; however, those methods fail to consider the overall benefits and costs of PPPs for multiple stakeholders, and they do not provide much assistance in terms of comparison between different projects in portfolio level. This study introduces a Multi-Objective Decision Support System (MODSS) which integrates quantitative and qualitative aspects of PPPs and calculates the utility function based on different interests of multiple stockholders. The ROR on private investment, the regional economic benefits for local people, and long term national level benefits are considered as the main attributes to address different objectives of different stakeholders. This two level MODSS model assists public agencies such as FHWA to better spend their resources in special programs such as TIFIA by optimizing their funding portfolio and allocating the available funds into the optimal portfolio of PPP projects.
A Multi-Objective Decision Support System for PPP Funding Decisions
Farajian, Morteza (author) / Cui, Qingbin (author)
International Workshop on Computing in Civil Engineering 2011 ; 2011 ; Miami, Florida, United States
Computing in Civil Engineering (2011) ; 210-218
2011-06-16
Conference paper
Electronic Resource
English
A Multi-Objective Decision Support System for PPP Funding Decisions
| British Library Conference Proceedings | 2011
| Taylor & Francis Verlag | 2018
User-Oriented Model to Support Funding Decisions in Pavement Management
| British Library Online Contents | 2009
Raster Procedures for Multi-Criteria-Multi-Objective Decisions
| Online Contents | 1995
Target Funding for Substate Transportation Investment Decisions
| British Library Conference Proceedings | 1997