Optimization in Decision Making in Infrastructure Asset Management: A Review
Abstract
:Featured Application
Abstract
1. Introduction
- Clarifying optimization methods and their abilities when dealing with DM problems in IAM;
- Summarizing and discussing the previous applications of optimization in DM in IAM, based on a total of 337 articles;
- Specifying the popular optimization methods applied in DM in IAM and making recommendations on their applications.
2. Background
- With the help of powerful computers, optimization deals with large data, i.e., a large number of segments and alternative strategies/management interventions, so large networks and life-cycle analysis can be handled.
- Based on well-designed algorithms, optimization is able to find solutions for hard problems, e.g., allocating limited budget to a large network, and therefore promotes the best use of available resources.
- Optimization covers a variety of variables and formulae to describe different management outcomes and examines possible trade-offs accordingly.
- Optimization can involve multiple objectives, even the conflicting ones. The compromise of the conflicting goals is not necessary during the optimization.
- Optimization can also consider uncertainties with fuzzy variables, and can therefore help with estimating the uncertainties and controlling the risks during the management period.
3. Review of the Applications of Optimization Methods in Decision Making in Infrastructure Asset Management
3.1. Application History
3.2. Levels of Decision Making
3.3. Types of Optimization
3.4. Applied Optimization Methods
3.4.1. Deterministic Methods
3.4.2. Heuristics
3.4.3. Other Methods and Software
3.5. Management Outcomes
4. Conclusions and Future Research
- Optimization can greatly assist DM in IAM. It analyzes DM problems even for the large infrastructure networks and life-cycle analysis and attempts to generate the best solution(s) under the goals and requirements of IAM. Therefore, DM becomes easier and more informed and its result is more reasonable and more objective.
- Optimization methods have been applied in DM in IAM for a long time and became popular in the 2000s.
- IAM has the following two types of DM: Project- and network-level, where the former is often used for a specific project and the latter is often used to analyze an infrastructure network when deciding the M&R management.
- DM problems can be defined as SOO or MOO depending on the number of the main goals. Optimization methods can handle both and generate one solution or a set of solutions accordingly.
- There are a broad range of optimization methods that can be applied to assist DM in IAM. This paper summarizes the popular optimization methods within the classes of deterministic methods, heuristics, and other methods and software. These methods have their strengths and weaknesses. The recommendations and suggestions on their applications are also made.
- DM may involve various management outcomes which can be analyzed by optimization methods in terms of objectives and constraints. The common outcomes include financial expense and infrastructure asset condition, while other outcomes are also considered.
Funding
Conflicts of Interest
Appendix A
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Chen, L.; Bai, Q. Optimization in Decision Making in Infrastructure Asset Management: A Review. Appl. Sci. 2019, 9, 1380. https://doi.org/10.3390/app9071380
Chen L, Bai Q. Optimization in Decision Making in Infrastructure Asset Management: A Review. Applied Sciences. 2019; 9(7):1380. https://doi.org/10.3390/app9071380
Chicago/Turabian StyleChen, Lin, and Qiang Bai. 2019. "Optimization in Decision Making in Infrastructure Asset Management: A Review" Applied Sciences 9, no. 7: 1380. https://doi.org/10.3390/app9071380
APA StyleChen, L., & Bai, Q. (2019). Optimization in Decision Making in Infrastructure Asset Management: A Review. Applied Sciences, 9(7), 1380. https://doi.org/10.3390/app9071380