01516593

Component

Investment in new large transportation infrastructure is capital-intensive and irreversible in nature. Private sector participation in infrastructure investment has gained popularity in recent times because of scarcity of resources at the public sector, and because of the ability of the private sector to build, operate, maintain such facilities, and share future uncertainties. In such cases, there are multiple entities each with different objectives in the project. Traditional techniques used to determine feasibility of such projects often ignore two critical elements. These are the need (1) to identify major entities involved in these projects and their individual objectives, and (2) the importance of analyzing measures of effectiveness of each entity in a multi objective context. A framework is proposed to address these issues along with a set of relaxation policies to reflect the nature and level of participation by the entities. First, the feasibility of each single entity perspective is determined and next, a multi-objective optimization (MOO) is proposed reflecting the perspectives of all entities. The MOO results in pareto optimal solutions to serve as tradeoff between the participation levels of the multiple entities. Analytic Hierarchy Process (AHP) is used as a tool to narrow down number of options for decision makers for further consideration. AHP and MOO are integrated to determine the feasibility of strategies from multi entity perspectives. The framework is examined on the proposed multibillion dollar international river crossing connecting the city of Detroit in the United States and the city of Windsor in Canada. This methodology provides a decision making process tool for large-scale transportation infrastructure investment consisting of multiple entities.

This paper was sponsored by TRB committee ABE10 Revenue and Finance.

01503729

14-4870

English

20p

2014

Transportation Research Board 93rd Annual Meeting

Digital/other

Figures; References; Tables

Decision making; Infrastructure; Investments; Measures of effectiveness; Optimization; Private enterprise

Detroit (Michigan); Windsor (Canada)

Economics; Transportation (General); I10: Economics and Administration

Transportation Research Board Annual Meeting 2014 Paper #14-4870

TRIS, TRB, ATRI

Jan 27 2014 3:42PM