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A Multistage Stochastic Model for the Management of Flexibility in Infrastructure Systems
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- Authors
- Issue Date
- 2019-05-26
- Citation
- 13th International Conference on Applications of Statistics and Probability in Civil Engineering(ICASP13), Seoul, South Korea, May 26-30, 2019
- Abstract
- Flexibility can be an attractive property to add the infrastructure systems during the design phase to reduce the impact of uncertainty. The management of this flexibility, however, is a complicated sequential decision problem that must be solved to extract all the benefits that flexibility may offer. In this paper, a multistage stochastic model is proposed to simulate the flexibility management process. The model combines a novel mathematical representation of flexibility with a set of policies and a scenario-based representation of uncertainty to determine the optimal initial configuration and the optimal flexibility for the system. The results showed that, under specific conditions, flexibility can be a desirable property to add to the system. In addition, the model provides valuable insight about the interaction between system design properties and management policies.
- Language
- English
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