Application of particle swarm optimization and robust net present value for BOT-type contracts

Major infrastructure construction projects contracted to private companies by governments are important for maximizing profitability. This paper extends an existing build–operate–transfer (BOT) concession model (BOTCcM) for identifying the reasonable concession period which would be profitable both to the government and to the private sector. There are some major limitations with BOTCcM – for example, the total investment cost is pre-given and the impact of uncertainty of parameters affecting the concession period were not considered. In this research, the total investment cost is assumed as variable which should be optimally determined and the uncertainty of net cash flows is considered. Further, the proposed model is implemented to calculate the robust concession period and required capital for the construction period, using the obtained values and particle swarm optimization method.

• Record URL:
  https://doi.org/10.1080/03081060.2017.1355884
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/1767712
• Supplemental Notes:
  • Abstract reprinted with permission of Taylor & Francis.
• Authors:
  • Emamian, Soheil
  • Naini, Seyed Gholamreza Jalali
  • Shahanaghi, Kamran
• Publication Date: 2017-11

Language

• English

Media Info

• Media Type: Web
• Pagination: pp 901-913
• Serial:
  • Transportation Planning and Technology
  • Volume: 40
  • Issue Number: 8
  • Publisher: Taylor & Francis
  • ISSN: 0308-1060
  • Serial URL: https://www.tandfonline.com/toc/gtpt20/current

Subject/Index Terms

• TRT Terms: Build operate transfer; Construction projects; Optimization; Profitability
• Subject Areas: Administration and Management; Construction; Transportation (General);

Filing Info

• Accession Number: 01646447
• Record Type: Publication
• Files: TRIS
• Created Date: Sep 25 2017 2:09PM