Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 331-346 |
| Number of pages | 16 |
| Journal | Proceedings of the Institution of Mechanical Engineers, Part F: Journal of Rail and Rapid Transit |
| Volume | 220 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - 2006 |
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Keywords
- Analytic hierarchy process
- Infrastructure asset renewal cost modelling
- Minimal quantitative data
- Three-point estimating
Cite this
Modelling the cost of railway asset renewal projects using pairwise comparisons. / Ling, D. J.; Roy, R.; Shehab, E.; Jaiswal, J.; Stretch, I.
In: Proceedings of the Institution of Mechanical Engineers, Part F: Journal of Rail and Rapid Transit, Vol. 220, No. 4, 2006, p. 331-346.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Modelling the cost of railway asset renewal projects using pairwise comparisons
AU - Ling, D. J.
AU - Roy, R.
AU - Shehab, E.
AU - Jaiswal, J.
AU - Stretch, I.
PY - 2006
Y1 - 2006
N2 - This research article presents the development process of a cost-estimating model for railway renewal projects at the early stage of a project life cycle. The model comprises four main stages: creating a project structure that composes the goal, project criteria, and alternatives; collecting the necessary data in the form of pairwise comparisons made by a domain expert; producing alternative weights using a geometric mean; finally, employing an algorithmic method using the produced alternative weights and the known cost of one alternative per criteria. The practical implications of the developed model are its ability to estimate renewal project costs of railway assets when there is a lack of quantitative data and detailed project definition. The process provides a transparent and a structured way of formalizing subjective judgments, which produces a three-point estimate as the resulting output. The model is described and validated using a switch and crossing case study.
AB - This research article presents the development process of a cost-estimating model for railway renewal projects at the early stage of a project life cycle. The model comprises four main stages: creating a project structure that composes the goal, project criteria, and alternatives; collecting the necessary data in the form of pairwise comparisons made by a domain expert; producing alternative weights using a geometric mean; finally, employing an algorithmic method using the produced alternative weights and the known cost of one alternative per criteria. The practical implications of the developed model are its ability to estimate renewal project costs of railway assets when there is a lack of quantitative data and detailed project definition. The process provides a transparent and a structured way of formalizing subjective judgments, which produces a three-point estimate as the resulting output. The model is described and validated using a switch and crossing case study.
KW - Analytic hierarchy process
KW - Infrastructure asset renewal cost modelling
KW - Minimal quantitative data
KW - Three-point estimating
UR - http://www.mendeley.com/research/modelling-cost-railway-asset-renewal-projects-using-pairwise-comparisons
U2 - 10.1243/09544097JRRT31
DO - 10.1243/09544097JRRT31
M3 - Article
VL - 220
SP - 331
EP - 346
JO - Proceedings of the Institution of Mechanical Engineers, Part F: Journal of Rail and Rapid Transit
JF - Proceedings of the Institution of Mechanical Engineers, Part F: Journal of Rail and Rapid Transit
SN - 0954-4097
IS - 4
ER -